CLEARFIELD, INC.
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2020 | 40.7% | 9.0% | 7.8% |
| FY2021 | 43.5% | 17.9% | 14.4% |
| FY2022 | 41.7% | 23.6% | 18.2% |
| FY2023 | 35.4% | 16.6% | 14.4% |
| FY2024 | 20.6% | -15.3% | -9.9% |
In the short run, the market is a voting machine but in the long run, it is a weighing machine.