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HARVARD BIOSCIENCE INC (HBIO) Stock Fundamental Analysis

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

0.4438  -0.02 (-4.27%)

After market: 0.4596 +0.02 (+3.56%)

Fundamental Rating

3

Overall HBIO gets a fundamental rating of 3 out of 10. We evaluated HBIO against 55 industry peers in the Life Sciences Tools & Services industry. Both the profitability and financial health of HBIO have multiple concerns. 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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2

1. Profitability

1.1 Basic Checks

In the past year HBIO was profitable.
In the past year HBIO had a positive cash flow from operations.
In the past 5 years HBIO always reported negative net income.
In the past 5 years HBIO always reported a positive cash flow from operatings.
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 2024 0 10M -10M

1.2 Ratios

HBIO has a Return On Assets of -72.74%. This is amonst the worse of the industry: HBIO underperforms 87.27% of its industry peers.
HBIO's Return On Equity of -391.31% is on the low side compared to the rest of the industry. HBIO is outperformed by 87.27% of its industry peers.
Industry RankSector Rank
ROA -72.74%
ROE -391.31%
ROIC N/A
ROA(3y)-6.27%
ROA(5y)-4.8%
ROE(3y)-12.47%
ROE(5y)-9.59%
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 2024 0 -5 -10 -15 -20

1.3 Margins

HBIO has a better Gross Margin (57.09%) than 70.91% of its industry peers.
In the last couple of years the Gross Margin of HBIO has remained more or less at the same level.
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 57.09%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.96%
HBIO Yearly Profit, Operating, Gross MarginsHBIO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

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3

2. Health

2.1 Basic Checks

HBIO does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for HBIO has been increased compared to 1 year ago.
The number of shares outstanding for HBIO has been increased compared to 5 years ago.
The debt/assets ratio for HBIO is higher compared to a year ago.
HBIO Yearly Shares OutstandingHBIO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2024 50M 100M 150M

2.2 Solvency

HBIO has an Altman-Z score of -2.68. This is a bad value and indicates that HBIO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -2.68, HBIO is doing worse than 85.45% of the companies in the same industry.
There is no outstanding debt for HBIO. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -2.68
ROIC/WACCN/A
WACC10.15%
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 2024 0 20M 40M 60M 80M

2.3 Liquidity

A Current Ratio of 0.81 indicates that HBIO may have some problems paying its short term obligations.
HBIO has a Current ratio of 0.81. This is amonst the worse of the industry: HBIO underperforms 90.91% of its industry peers.
HBIO has a Quick Ratio of 0.81. This is a bad value and indicates that HBIO is not financially healthy enough and could expect problems in meeting its short term obligations.
HBIO has a worse Quick ratio (0.40) than 98.18% of its industry peers.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.4
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 2024 20M 40M 60M

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3

3. Growth

3.1 Past

HBIO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -72.73%.
The earnings per share for HBIO have been decreasing by -19.73% on average. This is quite bad
Looking at the last year, HBIO shows a very negative growth in Revenue. The Revenue has decreased by -14.41% in the last year.
The Revenue has been decreasing by -4.12% on average over the past years.
EPS 1Y (TTM)-72.73%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%-150%
Revenue 1Y (TTM)-14.41%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-11.17%

3.2 Future

The Earnings Per Share is expected to grow by 20.21% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 1.01% on average over the next years.
EPS Next Y-15%
EPS Next 2Y20.21%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-7.04%
Revenue Next 2Y1.01%
Revenue Next 3YN/A
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

With a Price/Earnings ratio of 14.79, HBIO is valued correctly.
HBIO's Price/Earnings ratio is rather cheap when compared to the industry. HBIO is cheaper than 89.09% of the companies in the same industry.
HBIO is valuated rather cheaply when we compare the Price/Earnings ratio to 27.15, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 5.12, which 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.
HBIO is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.60, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.79
Fwd PE 5.12
HBIO Price Earnings VS Forward Price EarningsHBIO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HBIO indicates a somewhat cheap valuation: HBIO is cheaper than 67.27% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 22.46
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

HBIO's earnings are expected to grow with 20.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y20.21%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for HBIO!.
Industry RankSector Rank
Dividend Yield N/A

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HARVARD BIOSCIENCE INC

NASDAQ:HBIO (6/30/2025, 8:00:01 PM)

After market: 0.4596 +0.02 (+3.56%)

0.4438

-0.02 (-4.27%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)05-12 2025-05-12/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners73.17%
Inst Owner Change-17.12%
Ins Owners6.2%
Ins Owner Change-0.79%
Market Cap19.62M
Analysts80
Price Target3.06 (589.5%)
Short Float %16.38%
Short Ratio0.45
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)46.57%
Min EPS beat(2)17.65%
Max EPS beat(2)75.49%
EPS beat(4)2
Avg EPS beat(4)-45.1%
Min EPS beat(4)-173.52%
Max EPS beat(4)75.49%
EPS beat(8)2
Avg EPS beat(8)-41.43%
EPS beat(12)4
Avg EPS beat(12)-35.76%
EPS beat(16)4
Avg EPS beat(16)-30.39%
Revenue beat(2)1
Avg Revenue beat(2)5.44%
Min Revenue beat(2)-0.31%
Max Revenue beat(2)11.18%
Revenue beat(4)1
Avg Revenue beat(4)-4.56%
Min Revenue beat(4)-14.86%
Max Revenue beat(4)11.18%
Revenue beat(8)1
Avg Revenue beat(8)-5.8%
Revenue beat(12)2
Avg Revenue beat(12)-5.61%
Revenue beat(16)4
Avg Revenue beat(16)-3.95%
PT rev (1m)-33.33%
PT rev (3m)-29.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-133.33%
EPS NY rev (1m)11.11%
EPS NY rev (3m)-33.33%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.67%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-10.89%
Valuation
Industry RankSector Rank
PE 14.79
Fwd PE 5.12
P/S 0.21
P/FCF N/A
P/OCF 6.49
P/B 1.32
P/tB N/A
EV/EBITDA 22.46
EPS(TTM)0.03
EY6.76%
EPS(NY)0.09
Fwd EY19.54%
FCF(TTM)0
FCFYN/A
OCF(TTM)0.07
OCFY15.41%
SpS2.07
BVpS0.34
TBVpS-0.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -72.74%
ROE -391.31%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 57.09%
FCFM N/A
ROA(3y)-6.27%
ROA(5y)-4.8%
ROE(3y)-12.47%
ROE(5y)-9.59%
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 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.96%
F-Score4
Asset Turnover1.15
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0
Cap/Depr 45.88%
Cap/Sales 3.53%
Interest Coverage N/A
Cash Conversion 133.35%
Profit Quality N/A
Current Ratio 0.81
Quick Ratio 0.4
Altman-Z -2.68
F-Score4
WACC10.15%
ROIC/WACCN/A
Cap/Depr(3y)33.21%
Cap/Depr(5y)26.48%
Cap/Sales(3y)2.31%
Cap/Sales(5y)1.84%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-72.73%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%-150%
EPS Next Y-15%
EPS Next 2Y20.21%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-14.41%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-11.17%
Revenue Next Year-7.04%
Revenue Next 2Y1.01%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-123.98%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year4733.33%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-105.62%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-38.93%
OCF growth 3Y4.55%
OCF growth 5Y-29.12%