Clearfield, Inc.

AI-generated fair value estimate for this company.

Method: 5-year FCF DCF off a normalized base FCF of ~$20M (between FY2025's $24.7M and TTM's $15.9M), grown 10%/yr for 5 years (reflecting BEAD rural-broadband-funded fiber buildout demand), 10% discount rate, 3% terminal growth, giving enterprise value of ~$394M; adding the $90.95M net cash position (cash & short-term investments $101.2M less $10.3M debt) and dividing by 13.58M shares outstanding (market cap $419.6M, price $30.89, TTM revenue $153.7M +34% YoY) yields ~$35.50/share.

Reasoning: Clearfield is a profitable-at-scale fiber-connectivity hardware manufacturer with a debt-light balance sheet and a near-term earnings inflection (FY2026 consensus EPS of $0.63 vs. a FY2025 GAAP loss of -$8.05M), making a cash-flow DCF with a cash add-back more appropriate than an earnings multiple distorted by the recent loss year.