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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and iSpecimen Inc. (ISPC). Click either name above to swap in a different company.
iSpecimen Inc. is the larger business by last-quarter revenue ($713.1K vs $360.3K, roughly 2.0× Clearwater Paper Corp). Clearwater Paper Corp runs the higher net margin — -3.6% vs -146.9%, a 143.3% gap on every dollar of revenue. On growth, Clearwater Paper Corp posted the faster year-over-year revenue change (-4.7% vs -75.1%). Over the past eight quarters, iSpecimen Inc.'s revenue compounded faster (-49.3% CAGR vs -96.8%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
Specimen Products is a Chicago-based manufacturer of custom guitars, tube amplifiers, and audio horn speakers led by luthier Ian Schneller. Specimen Products also offers courses in guitar and tube amplifier design, construction, and repair through their Chicago School of Guitar Making. The Specimen workshop offers repair services to the general public, making use of their collection of parts from rare and vintage manufacturers.
CLW vs ISPC — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3K | $713.1K |
| Net Profit | $-12.8K | $-1.0M |
| Gross Margin | -0.2% | 44.4% |
| Operating Margin | — | -255.4% |
| Net Margin | -3.6% | -146.9% |
| Revenue YoY | -4.7% | -75.1% |
| Net Profit YoY | -103.2% | 50.3% |
| EPS (diluted) | — | $-0.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $360.3K | — | ||
| Q4 25 | $386.4M | — | ||
| Q3 25 | $399.0M | — | ||
| Q2 25 | $391.8M | $713.1K | ||
| Q1 25 | $378.2M | $1.1M | ||
| Q4 24 | $387.1M | $1.5M | ||
| Q3 24 | $393.3M | $2.7M | ||
| Q2 24 | $344.4M | $2.9M |
| Q1 26 | $-12.8K | — | ||
| Q4 25 | $38.3M | — | ||
| Q3 25 | $-53.3M | — | ||
| Q2 25 | $2.7M | $-1.0M | ||
| Q1 25 | $-6.3M | $-1.7M | ||
| Q4 24 | $199.1M | $-6.0M | ||
| Q3 24 | $5.8M | $-1.4M | ||
| Q2 24 | $-25.8M | $-2.1M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 11.0% | 44.4% | ||
| Q1 25 | 9.7% | 42.4% | ||
| Q4 24 | 3.8% | 13.5% | ||
| Q3 24 | 7.7% | 43.4% | ||
| Q2 24 | -0.6% | 51.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | -13.9% | — | ||
| Q2 25 | 2.5% | -255.4% | ||
| Q1 25 | -1.1% | -154.9% | ||
| Q4 24 | -4.0% | -395.8% | ||
| Q3 24 | -0.3% | -64.1% | ||
| Q2 24 | -13.6% | -76.2% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | — | ||
| Q3 25 | -13.4% | — | ||
| Q2 25 | 0.7% | -146.9% | ||
| Q1 25 | -1.7% | -156.8% | ||
| Q4 24 | 51.4% | -409.8% | ||
| Q3 24 | 1.5% | -54.1% | ||
| Q2 24 | -7.5% | -73.6% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | — | ||
| Q3 25 | $-3.30 | — | ||
| Q2 25 | $0.17 | $-0.42 | ||
| Q1 25 | $-0.38 | $-0.71 | ||
| Q4 24 | $11.87 | $-5.40 | ||
| Q3 24 | $0.35 | $-2.10 | ||
| Q2 24 | $-1.55 | $-3.72 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.5M | — |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $622.0K |
| Total Assets | $1.6B | $6.0M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | — | ||
| Q3 25 | $34.4M | — | ||
| Q2 25 | $46.7M | — | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $79.6M | $1.9M | ||
| Q3 24 | $35.5M | $1.8M | ||
| Q2 24 | $39.6M | $2.2M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | — | ||
| Q3 25 | $783.0M | — | ||
| Q2 25 | $836.8M | $622.0K | ||
| Q1 25 | $836.6M | $1.7M | ||
| Q4 24 | $854.6M | $3.3M | ||
| Q3 24 | $664.6M | $4.7M | ||
| Q2 24 | $658.6M | $6.1M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | $6.0M | ||
| Q1 25 | $1.6B | $6.8M | ||
| Q4 24 | $1.7B | $9.4M | ||
| Q3 24 | $2.5B | $11.3M | ||
| Q2 24 | $2.5B | $11.9M |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-192.2K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | — | ||
| Q3 25 | $34.0M | — | ||
| Q2 25 | $-28.2M | $-192.2K | ||
| Q1 25 | $1.5M | $-1.1M | ||
| Q4 24 | $-35.1M | $-3.6M | ||
| Q3 24 | $16.2M | $-1.1M | ||
| Q2 24 | $21.1M | $-1.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | — | ||
| Q3 25 | $15.7M | — | ||
| Q2 25 | $-51.1M | — | ||
| Q1 25 | $-31.2M | — | ||
| Q4 24 | $-68.1M | $-3.6M | ||
| Q3 24 | $-30.8M | $-1.1M | ||
| Q2 24 | $3.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | -13.0% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | -17.6% | -242.7% | ||
| Q3 24 | -7.8% | -41.1% | ||
| Q2 24 | 0.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 8.6% | — | ||
| Q4 24 | 8.5% | 0.5% | ||
| Q3 24 | 12.0% | 0.5% | ||
| Q2 24 | 5.3% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -10.44× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | 2.79× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
