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HARVARD BIOSCIENCE INC (HBIO) Stock Fundamental Analysis

NASDAQ:HBIO - Nasdaq - US4169061052 - Common Stock - Currency: USD

0.99  -0.19 (-16.1%)

After market: 1.02 +0.03 (+3.03%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to HBIO. HBIO was compared to 57 industry peers in the Life Sciences Tools & Services industry. HBIO may be in some trouble as it scores bad on both profitability and health. HBIO has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year HBIO was profitable.
HBIO had a positive operating cash flow in the past year.
In the past 5 years HBIO always reported negative net income.
Each year in the past 5 years HBIO had a positive operating cash flow.
HBIO Yearly Net Income VS EBIT VS OCF VS FCFHBIO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10M -10M

1.2 Ratios

The Return On Assets of HBIO (-10.85%) is comparable to the rest of the industry.
HBIO has a Return On Equity of -21.80%. This is comparable to the rest of the industry: HBIO outperforms 52.63% of its industry peers.
Industry RankSector Rank
ROA -10.85%
ROE -21.8%
ROIC N/A
ROA(3y)-3.07%
ROA(5y)-3.41%
ROE(3y)-6.06%
ROE(5y)-6.82%
ROIC(3y)N/A
ROIC(5y)N/A
HBIO Yearly ROA, ROE, ROICHBIO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -5 -10 -15 -20

1.3 Margins

In the last couple of years the Operating Margin of HBIO has declined.
With a decent Gross Margin value of 58.40%, HBIO is doing good in the industry, outperforming 78.95% of the companies in the same industry.
HBIO's Gross Margin has been stable in the last couple of years.
The Profit Margin and Operating Margin are not available for HBIO so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 58.4%
OM growth 3Y118.22%
OM growth 5Y-12.52%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.35%
GM growth 5Y1.29%
HBIO Yearly Profit, Operating, Gross MarginsHBIO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40

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2

2. Health

2.1 Basic Checks

HBIO does not have a ROIC to compare to the WACC, probably because it is not profitable.
HBIO has more shares outstanding than it did 1 year ago.
The number of shares outstanding for HBIO has been increased compared to 5 years ago.
The debt/assets ratio for HBIO has been reduced compared to a year ago.
HBIO Yearly Shares OutstandingHBIO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
HBIO Yearly Total Debt VS Total AssetsHBIO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

2.2 Solvency

HBIO has an Altman-Z score of -0.39. This is a bad value and indicates that HBIO is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of HBIO (-0.39) is worse than 71.93% of its industry peers.
The Debt to FCF ratio of HBIO is 244.25, which is on the high side as it means it would take HBIO, 244.25 years of fcf income to pay off all of its debts.
HBIO's Debt to FCF ratio of 244.25 is in line compared to the rest of the industry. HBIO outperforms 56.14% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that HBIO is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.52, HBIO is not doing good in the industry: 61.40% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF 244.25
Altman-Z -0.39
ROIC/WACCN/A
WACC11.68%
HBIO Yearly LT Debt VS Equity VS FCFHBIO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20M 40M 60M 80M

2.3 Liquidity

A Current Ratio of 2.06 indicates that HBIO has no problem at all paying its short term obligations.
The Current ratio of HBIO (2.06) is worse than 64.91% of its industry peers.
A Quick Ratio of 0.91 indicates that HBIO may have some problems paying its short term obligations.
HBIO has a Quick ratio of 0.91. This is amonst the worse of the industry: HBIO underperforms 80.70% of its industry peers.
Industry RankSector Rank
Current Ratio 2.06
Quick Ratio 0.91
HBIO Yearly Current Assets VS Current LiabilitesHBIO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

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2

3. Growth

3.1 Past

HBIO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -73.33%.
The Earnings Per Share has been decreasing by -6.51% on average over the past years.
HBIO shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -13.15%.
HBIO shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.46% yearly.
EPS 1Y (TTM)-73.33%
EPS 3Y-2.13%
EPS 5Y-6.51%
EPS Q2Q%-300%
Revenue 1Y (TTM)-13.15%
Revenue growth 3Y3.21%
Revenue growth 5Y-1.46%
Sales Q2Q%-13.38%

3.2 Future

The Earnings Per Share is expected to grow by 19.35% on average over the next years. This is quite good.
Based on estimates for the next years, HBIO will show a decrease in Revenue. The Revenue will decrease by -0.35% on average per year.
EPS Next Y-100%
EPS Next 2Y-7.8%
EPS Next 3Y19.35%
EPS Next 5YN/A
Revenue Next Year-17.16%
Revenue Next 2Y-7.04%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
HBIO Yearly Revenue VS EstimatesHBIO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
HBIO Yearly EPS VS EstimatesHBIO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.05 0.1 0.15 0.2 0.25

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 24.75, which indicates a rather expensive current valuation of HBIO.
HBIO's Price/Earnings ratio is a bit cheaper when compared to the industry. HBIO is cheaper than 75.44% of the companies in the same industry.
HBIO is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 29.63, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 7.76 indicates a rather cheap valuation of HBIO.
Based on the Price/Forward Earnings ratio, HBIO is valued cheaper than 100.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, HBIO is valued rather cheaply.
Industry RankSector Rank
PE 24.75
Fwd PE 7.76
HBIO Price Earnings VS Forward Price EarningsHBIO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

66.67% of the companies in the same industry are more expensive than HBIO, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of HBIO is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 278.6
EV/EBITDA 46.83
HBIO Per share dataHBIO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2

4.3 Compensation for Growth

A more expensive valuation may be justified as HBIO's earnings are expected to grow with 19.35% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-7.8%
EPS Next 3Y19.35%

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0

5. Dividend

5.1 Amount

HBIO does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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HARVARD BIOSCIENCE INC

NASDAQ:HBIO (2/21/2025, 8:25:10 PM)

After market: 1.02 +0.03 (+3.03%)

0.99

-0.19 (-16.1%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)11-07 2024-11-07/bmo
Earnings (Next)03-06 2025-03-06/amc
Inst Owners82.92%
Inst Owner Change2.73%
Ins Owners7.23%
Ins Owner Change-2.09%
Market Cap43.18M
Analysts82.5
Price Target6.38 (544.44%)
Short Float %1.87%
Short Ratio3.33
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-136.76%
Min EPS beat(2)-173.52%
Max EPS beat(2)-100%
EPS beat(4)0
Avg EPS beat(4)-77.76%
Min EPS beat(4)-173.52%
Max EPS beat(4)-15.95%
EPS beat(8)2
Avg EPS beat(8)-48.66%
EPS beat(12)2
Avg EPS beat(12)-47.53%
EPS beat(16)4
Avg EPS beat(16)-31.98%
Revenue beat(2)0
Avg Revenue beat(2)-14.55%
Min Revenue beat(2)-14.86%
Max Revenue beat(2)-14.23%
Revenue beat(4)0
Avg Revenue beat(4)-10.28%
Min Revenue beat(4)-14.86%
Max Revenue beat(4)-5.18%
Revenue beat(8)1
Avg Revenue beat(8)-7.94%
Revenue beat(12)1
Avg Revenue beat(12)-6.82%
Revenue beat(16)5
Avg Revenue beat(16)-3.71%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)11.11%
EPS NQ rev (3m)-25%
EPS NY rev (1m)N/A
EPS NY rev (3m)-100%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-12.29%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-8.56%
Valuation
Industry RankSector Rank
PE 24.75
Fwd PE 7.76
P/S 0.44
P/FCF 278.6
P/OCF 10.76
P/B 0.66
P/tB N/A
EV/EBITDA 46.83
EPS(TTM)0.04
EY4.04%
EPS(NY)0.13
Fwd EY12.88%
FCF(TTM)0
FCFY0.36%
OCF(TTM)0.09
OCFY9.29%
SpS2.24
BVpS1.5
TBVpS-0.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -10.85%
ROE -21.8%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 58.4%
FCFM 0.16%
ROA(3y)-3.07%
ROA(5y)-3.41%
ROE(3y)-6.06%
ROE(5y)-6.82%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y118.22%
OM growth 5Y-12.52%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.35%
GM growth 5Y1.29%
F-Score3
Asset Turnover0.74
Health
Industry RankSector Rank
Debt/Equity 0.52
Debt/FCF 244.25
Debt/EBITDA 18.92
Cap/Depr 53.77%
Cap/Sales 3.95%
Interest Coverage N/A
Cash Conversion 221.71%
Profit Quality N/A
Current Ratio 2.06
Quick Ratio 0.91
Altman-Z -0.39
F-Score3
WACC11.68%
ROIC/WACCN/A
Cap/Depr(3y)23.91%
Cap/Depr(5y)20.52%
Cap/Sales(3y)1.53%
Cap/Sales(5y)1.35%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-73.33%
EPS 3Y-2.13%
EPS 5Y-6.51%
EPS Q2Q%-300%
EPS Next Y-100%
EPS Next 2Y-7.8%
EPS Next 3Y19.35%
EPS Next 5YN/A
Revenue 1Y (TTM)-13.15%
Revenue growth 3Y3.21%
Revenue growth 5Y-1.46%
Sales Q2Q%-13.38%
Revenue Next Year-17.16%
Revenue Next 2Y-7.04%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A
EBIT growth 1Y-562.5%
EBIT growth 3Y125.23%
EBIT growth 5Y-13.8%
EBIT Next Year-43.1%
EBIT Next 3Y11.15%
EBIT Next 5YN/A
FCF growth 1Y104.94%
FCF growth 3Y12.73%
FCF growth 5Y44.34%
OCF growth 1Y382.61%
OCF growth 3Y14.56%
OCF growth 5Y37.25%