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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and PULSE BIOSCIENCES, INC. (PLSE). Click either name above to swap in a different company.

Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3K vs $264.0K, roughly 1.4× PULSE BIOSCIENCES, INC.). Clearwater Paper Corp runs the higher net margin — -3.6% vs -6603.4%, a 6599.9% gap on every dollar of revenue.

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.

Colossal Biosciences Inc. is an American biotechnology and genetic engineering company working to de-extinct several extinct animals, including the woolly mammoth, the Tasmanian tiger, the northern white rhinoceros, the dire wolf, the dodo, and the moa. In 2023, it stated that it wants to have woolly mammoth hybrid calves by 2028, and wants to reintroduce them to the Arctic tundra habitat. Likewise, it launched the Tasmanian Thylacine Advisory Committee, a thylacine research project to releas...

CLW vs PLSE — Head-to-Head

Bigger by revenue
CLW
CLW
1.4× larger
CLW
$360.3K
$264.0K
PLSE
Higher net margin
CLW
CLW
6599.9% more per $
CLW
-3.6%
-6603.4%
PLSE

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
CLW
CLW
PLSE
PLSE
Revenue
$360.3K
$264.0K
Net Profit
$-12.8K
$-17.4M
Gross Margin
-0.2%
Operating Margin
-6914.0%
Net Margin
-3.6%
-6603.4%
Revenue YoY
-4.7%
Net Profit YoY
-103.2%
10.1%
EPS (diluted)

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.

Revenue
CLW
CLW
PLSE
PLSE
Q1 26
$360.3K
Q4 25
$386.4M
$264.0K
Q3 25
$399.0M
$86.0K
Q2 25
$391.8M
$0
Q1 25
$378.2M
$0
Q4 24
$387.1M
$0
Q3 24
$393.3M
$0
Q2 24
$344.4M
$0
Net Profit
CLW
CLW
PLSE
PLSE
Q1 26
$-12.8K
Q4 25
$38.3M
$-17.4M
Q3 25
$-53.3M
$-19.4M
Q2 25
$2.7M
$-19.2M
Q1 25
$-6.3M
$-16.8M
Q4 24
$199.1M
$-19.4M
Q3 24
$5.8M
$-12.7M
Q2 24
$-25.8M
$-11.4M
Gross Margin
CLW
CLW
PLSE
PLSE
Q1 26
-0.2%
Q4 25
4.5%
Q3 25
4.7%
-224.4%
Q2 25
11.0%
Q1 25
9.7%
Q4 24
3.8%
Q3 24
7.7%
Q2 24
-0.6%
Operating Margin
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
1.9%
-6914.0%
Q3 25
-13.9%
-23682.6%
Q2 25
2.5%
Q1 25
-1.1%
Q4 24
-4.0%
Q3 24
-0.3%
Q2 24
-13.6%
Net Margin
CLW
CLW
PLSE
PLSE
Q1 26
-3.6%
Q4 25
9.9%
-6603.4%
Q3 25
-13.4%
-22540.7%
Q2 25
0.7%
Q1 25
-1.7%
Q4 24
51.4%
Q3 24
1.5%
Q2 24
-7.5%
EPS (diluted)
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
$2.36
Q3 25
$-3.30
Q2 25
$0.17
Q1 25
$-0.38
Q4 24
$11.87
Q3 24
$0.35
Q2 24
$-1.55

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CLW
CLW
PLSE
PLSE
Cash + ST InvestmentsLiquidity on hand
$36.5M
$80.7M
Total DebtLower is stronger
$361.1M
Stockholders' EquityBook value
$813.8M
$80.7M
Total Assets
$1.6B
$94.5M
Debt / EquityLower = less leverage
0.44×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CLW
CLW
PLSE
PLSE
Q1 26
$36.5M
Q4 25
$30.7M
$80.7M
Q3 25
$34.4M
$95.2M
Q2 25
$46.7M
$106.3M
Q1 25
$44.0M
$119.3M
Q4 24
$79.6M
$118.0M
Q3 24
$35.5M
$79.0M
Q2 24
$39.6M
$26.2M
Total Debt
CLW
CLW
PLSE
PLSE
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
Stockholders' Equity
CLW
CLW
PLSE
PLSE
Q1 26
$813.8M
Q4 25
$825.3M
$80.7M
Q3 25
$783.0M
$92.7M
Q2 25
$836.8M
$104.5M
Q1 25
$836.6M
$118.5M
Q4 24
$854.6M
$114.9M
Q3 24
$664.6M
$79.1M
Q2 24
$658.6M
$27.0M
Total Assets
CLW
CLW
PLSE
PLSE
Q1 26
$1.6B
Q4 25
$1.6B
$94.5M
Q3 25
$1.6B
$108.8M
Q2 25
$1.6B
$120.3M
Q1 25
$1.6B
$133.4M
Q4 24
$1.7B
$132.5M
Q3 24
$2.5B
$93.0M
Q2 24
$2.5B
$40.4M
Debt / Equity
CLW
CLW
PLSE
PLSE
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
CLW
CLW
PLSE
PLSE
Operating Cash FlowLast quarter
$-14.8M
Free Cash FlowOCF − Capex
$-14.9M
FCF MarginFCF / Revenue
-5628.8%
Capex IntensityCapex / Revenue
39.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-54.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
$5.0M
$-14.8M
Q3 25
$34.0M
$-13.0M
Q2 25
$-28.2M
$-12.8M
Q1 25
$1.5M
$-13.5M
Q4 24
$-35.1M
$-9.1M
Q3 24
$16.2M
$-9.0M
Q2 24
$21.1M
$-8.4M
Free Cash Flow
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
$-9.9M
$-14.9M
Q3 25
$15.7M
$-13.1M
Q2 25
$-51.1M
$-12.9M
Q1 25
$-31.2M
$-13.6M
Q4 24
$-68.1M
$-9.2M
Q3 24
$-30.8M
$-9.1M
Q2 24
$3.0M
$-8.4M
FCF Margin
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
-2.6%
-5628.8%
Q3 25
3.9%
-15233.7%
Q2 25
-13.0%
Q1 25
-8.2%
Q4 24
-17.6%
Q3 24
-7.8%
Q2 24
0.9%
Capex Intensity
CLW
CLW
PLSE
PLSE
Q1 26
Q4 25
3.9%
39.8%
Q3 25
4.6%
72.1%
Q2 25
5.8%
Q1 25
8.6%
Q4 24
8.5%
Q3 24
12.0%
Q2 24
5.3%
Cash Conversion
CLW
CLW
PLSE
PLSE
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.

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