CLEARFIELD, INC.
Cash Flow History
| Fiscal Year | Operating Cash Flow | Free Cash Flow | CapEx | Share-Based Compensation |
|---|---|---|---|---|
| FY2021 | $10.9M | $8.9M | $2.0M | $1.3M |
| FY2022 | $2.3M | $-6.2M | $8.5M | $2.3M |
| FY2023 | $18.4M | $10.7M | $7.7M | $3.6M |
| FY2024 | $22.2M | $12.7M | $9.6M | $4.4M |
| FY2025 | $26.6M | $21.8M | $4.7M | $4.6M |
Mimicking the herd invites regression to the mean (merely average performance).