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Clearfield vs Franklin Wireless: revenue, profit, margins and growth compared

Clearfield brought in $150.1M of revenue in fiscal 2025, Franklin Wireless $46.1M in fiscal 2025. Revenue changed by +19.6% at Clearfield and +49.6% at Franklin Wireless on the year before, so Franklin Wireless grew faster. Clearfield kept -5.4% of its revenue as net profit, Franklin Wireless -0.5%. Free cash flow was $21.8M at Clearfield and $1.8M at Franklin Wireless.

Side by side, latest fiscal year

CLFDFKWL
Fiscal year endedFY2025 (September 30, 2025)FY2025 (June 30, 2025)
Revenue$150.1M$46.1M
Revenue growth+19.6%+49.6%
Net income-$8.1M-$243.1K
Net margin-5.4%-0.5%
Free cash flow$21.8M$1.8M
Free cash flow margin14.5%3.9%
Earnings per share (diluted)-$0.58-$0.02
Cash$21.5M$14.7M
Debtn/an/a
Price to earningsn/an/a
Market value$422.1M$28.6M
Dividend yieldn/an/a
Rank by revenue in sector#97 of 116 · Utilities#106 of 116 · Utilities

Over the years

Revenue
CLFD FY2018: $77.7MCLFD FY2019: $85MCLFD FY2020: $93.1MCLFD FY2021: $140.8MCLFD FY2022: $270.9MCLFD FY2023: $225.7MCLFD FY2024: $125.6MCLFD FY2025: $150.1MFKWL FY2018: $30.1MFKWL FY2019: $36.5MFKWL FY2020: $75.1MFKWL FY2021: $184.1MFKWL FY2022: $24MFKWL FY2023: $45.9MFKWL FY2024: $30.8MFKWL FY2025: $46.1MFY18FY19FY20FY21FY22FY23FY24FY25
CLFD $150.1MFKWL $46.1M
Net income
CLFD FY2018: $4.3MCLFD FY2019: $4.6MCLFD FY2020: $7.3MCLFD FY2021: $20.3MCLFD FY2022: $49.4MCLFD FY2023: $32.5MCLFD FY2024: -$12.5MCLFD FY2025: -$8.1MFKWL FY2018: -$2.1MFKWL FY2019: -$1.3MFKWL FY2020: $5.6MFKWL FY2021: $17.7MFKWL FY2022: -$3.8MFKWL FY2023: -$2.9MFKWL FY2024: -$4MFKWL FY2025: -$243.1KFY18FY19FY20FY21FY22FY23FY24FY25
CLFD -$8.1MFKWL -$243.1K
Net margin
CLFD FY2018: 5.5%CLFD FY2019: 5.4%CLFD FY2020: 7.8%CLFD FY2021: 14.4%CLFD FY2022: 18.2%CLFD FY2023: 14.4%CLFD FY2024: -9.9%CLFD FY2025: -5.4%FKWL FY2018: -7.0%FKWL FY2019: -3.5%FKWL FY2020: 7.4%FKWL FY2021: 9.6%FKWL FY2022: -15.7%FKWL FY2023: -6.2%FKWL FY2024: -12.9%FKWL FY2025: -0.5%FY18FY19FY20FY21FY22FY23FY24FY25
CLFD -5.4%FKWL -0.5%
Revenue growth
CLFD FY2019: +9.5%CLFD FY2020: +9.5%CLFD FY2021: +51.2%CLFD FY2022: +92.5%CLFD FY2023: -16.7%CLFD FY2024: -44.4%CLFD FY2025: +19.6%FKWL FY2019: +21.3%FKWL FY2020: +105.9%FKWL FY2021: +145.3%FKWL FY2022: -87.0%FKWL FY2023: +91.5%FKWL FY2024: -33.0%FKWL FY2025: +49.6%FY19FY20FY21FY22FY23FY24FY25
CLFD +19.6%FKWL +49.6%
Free cash flow
CLFD FY2018: $3.4MCLFD FY2019: $12.2MCLFD FY2020: $4.8MCLFD FY2021: $8.9MCLFD FY2022: -$6.2MCLFD FY2023: $10.7MCLFD FY2024: $12.7MCLFD FY2025: $21.8MFKWL FY2018: -$2MFKWL FY2019: $674.3KFKWL FY2020: $21.8MFKWL FY2021: $12.1MFKWL FY2022: -$7.4MFKWL FY2023: -$1.9MFKWL FY2024: -$828.4KFKWL FY2025: $1.8MFY18FY19FY20FY21FY22FY23FY24FY25
CLFD $21.8MFKWL $1.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Clearfield and Franklin Wireless

Which is bigger by revenue, Clearfield or Franklin Wireless?

Clearfield is bigger by revenue: $150.1M in fiscal 2025, against $46.1M for Franklin Wireless in fiscal 2025.

Which keeps more of its revenue as profit, Clearfield or Franklin Wireless?

Clearfield had a net margin of -5.4% in fiscal 2025; Franklin Wireless had -0.5% in fiscal 2025.

Which grew revenue faster, Clearfield or Franklin Wireless?

In their latest fiscal years revenue changed by +19.6% at Clearfield and +49.6% at Franklin Wireless.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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