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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and MATRIX SERVICE CO (MTRX). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $210.5M, roughly 1.7× MATRIX SERVICE CO). MATRIX SERVICE CO runs the higher net margin — -0.4% vs -3.6%, a 3.1% gap on every dollar of revenue. On growth, MATRIX SERVICE CO posted the faster year-over-year revenue change (12.5% vs -4.7%). Over the past eight quarters, MATRIX SERVICE CO's revenue compounded faster (12.6% CAGR vs 2.3%).
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.
Matrix Telecom, Inc., operating as Matrix Business Technologies, Trinsic, Powered by Matrix, Excel Telecommunications and various other niche brands is a United States telecommunications firm that provides voice and data services to consumers and small and medium businesses as well as multi-location distributed enterprise markets. The firm also provides wholesale voice services to the telecommunications, wireless and cable industries.
CLW vs MTRX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $210.5M |
| Net Profit | $-12.8M | $-894.0K |
| Gross Margin | -0.2% | 6.2% |
| Operating Margin | — | -1.0% |
| Net Margin | -3.6% | -0.4% |
| Revenue YoY | -4.7% | 12.5% |
| Net Profit YoY | -103.2% | 83.8% |
| EPS (diluted) | — | $-0.03 |
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 | $360.3M | — | ||
| Q4 25 | $386.4M | $210.5M | ||
| Q3 25 | $399.0M | $211.9M | ||
| Q2 25 | $391.8M | $216.4M | ||
| Q1 25 | $378.2M | $200.2M | ||
| Q4 24 | $387.1M | $187.2M | ||
| Q3 24 | $393.3M | $165.6M | ||
| Q2 24 | $344.4M | $189.5M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $-894.0K | ||
| Q3 25 | $-53.3M | $-3.7M | ||
| Q2 25 | $2.7M | $-11.3M | ||
| Q1 25 | $-6.3M | $-3.4M | ||
| Q4 24 | $199.1M | $-5.5M | ||
| Q3 24 | $5.8M | $-9.2M | ||
| Q2 24 | $-25.8M | $-4.4M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 6.2% | ||
| Q3 25 | 4.7% | 6.7% | ||
| Q2 25 | 11.0% | 3.8% | ||
| Q1 25 | 9.7% | 6.4% | ||
| Q4 24 | 3.8% | 5.8% | ||
| Q3 24 | 7.7% | 4.7% | ||
| Q2 24 | -0.6% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | -1.0% | ||
| Q3 25 | -13.9% | -2.6% | ||
| Q2 25 | 2.5% | -6.0% | ||
| Q1 25 | -1.1% | -2.5% | ||
| Q4 24 | -4.0% | -3.4% | ||
| Q3 24 | -0.3% | -6.5% | ||
| Q2 24 | -13.6% | -2.8% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | -0.4% | ||
| Q3 25 | -13.4% | -1.7% | ||
| Q2 25 | 0.7% | -5.2% | ||
| Q1 25 | -1.7% | -1.7% | ||
| Q4 24 | 51.4% | -3.0% | ||
| Q3 24 | 1.5% | -5.6% | ||
| Q2 24 | -7.5% | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $-0.03 | ||
| Q3 25 | $-3.30 | $-0.13 | ||
| Q2 25 | $0.17 | $-0.41 | ||
| Q1 25 | $-0.38 | $-0.12 | ||
| Q4 24 | $11.87 | $-0.20 | ||
| Q3 24 | $0.35 | $-0.33 | ||
| Q2 24 | $-1.55 | $-0.16 |
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 | $199.0M |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $137.6M |
| Total Assets | $1.6B | $650.2M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $199.0M | ||
| Q3 25 | $34.4M | $192.3M | ||
| Q2 25 | $46.7M | $224.6M | ||
| Q1 25 | $44.0M | $185.5M | ||
| Q4 24 | $79.6M | $156.8M | ||
| Q3 24 | $35.5M | $124.6M | ||
| Q2 24 | $39.6M | $115.6M |
| 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 | $137.6M | ||
| Q3 25 | $783.0M | $136.3M | ||
| Q2 25 | $836.8M | $142.7M | ||
| Q1 25 | $836.6M | $150.7M | ||
| Q4 24 | $854.6M | $151.9M | ||
| Q3 24 | $664.6M | $156.5M | ||
| Q2 24 | $658.6M | $164.2M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $650.2M | ||
| Q3 25 | $1.6B | $598.2M | ||
| Q2 25 | $1.6B | $600.3M | ||
| Q1 25 | $1.6B | $613.7M | ||
| Q4 24 | $1.7B | $513.8M | ||
| Q3 24 | $2.5B | $470.2M | ||
| Q2 24 | $2.5B | $451.4M |
| 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 | — | $7.5M |
| Free Cash FlowOCF − Capex | — | $6.3M |
| FCF MarginFCF / Revenue | — | 3.0% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $45.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $7.5M | ||
| Q3 25 | $34.0M | $-25.9M | ||
| Q2 25 | $-28.2M | $40.7M | ||
| Q1 25 | $1.5M | $31.2M | ||
| Q4 24 | $-35.1M | $33.6M | ||
| Q3 24 | $16.2M | $11.9M | ||
| Q2 24 | $21.1M | $47.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $6.3M | ||
| Q3 25 | $15.7M | $-27.9M | ||
| Q2 25 | $-51.1M | $38.4M | ||
| Q1 25 | $-31.2M | $28.7M | ||
| Q4 24 | $-68.1M | $32.7M | ||
| Q3 24 | $-30.8M | $10.0M | ||
| Q2 24 | $3.0M | $45.7M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 3.0% | ||
| Q3 25 | 3.9% | -13.2% | ||
| Q2 25 | -13.0% | 17.8% | ||
| Q1 25 | -8.2% | 14.3% | ||
| Q4 24 | -17.6% | 17.5% | ||
| Q3 24 | -7.8% | 6.0% | ||
| Q2 24 | 0.9% | 24.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.6% | ||
| Q3 25 | 4.6% | 0.9% | ||
| Q2 25 | 5.8% | 1.0% | ||
| Q1 25 | 8.6% | 1.3% | ||
| Q4 24 | 8.5% | 0.5% | ||
| Q3 24 | 12.0% | 1.2% | ||
| Q2 24 | 5.3% | 0.7% |
| 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.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
MTRX
| Storage And Terminal Solutions | $99.9M | 47% |
| Utility And Power Infrastructure | $75.4M | 36% |
| Process And Industrial Facilities | $35.3M | 17% |
