HARMONIC INC (HLIT) Fundamental Analysis & Valuation

NASDAQ:HLIT • US4131601027

Current stock price

9 USD
-0.26 (-2.81%)
At close:
9.08 USD
+0.08 (+0.89%)
After Hours:

This HLIT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. HLIT Profitability Analysis

1.1 Basic Checks

  • HLIT had positive earnings in the past year.
  • In the past year HLIT had a positive cash flow from operations.
  • Of the past 5 years HLIT 4 years were profitable.
  • Each year in the past 5 years HLIT had a positive operating cash flow.
HLIT Yearly Net Income VS EBIT VS OCF VS FCFHLIT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M -50M 100M

1.2 Ratios

  • HLIT has a worse Return On Assets (-6.03%) than 66.67% of its industry peers.
  • HLIT has a Return On Equity of -11.30%. This is in the lower half of the industry: HLIT underperforms 70.83% of its industry peers.
  • The Return On Invested Capital of HLIT (2.58%) is better than 62.50% of its industry peers.
  • HLIT had an Average Return On Invested Capital over the past 3 years of 5.97%. This is below the industry average of 10.22%.
Industry RankSector Rank
ROA -6.03%
ROE -11.3%
ROIC 2.58%
ROA(3y)3.28%
ROA(5y)3.14%
ROE(3y)5.45%
ROE(5y)5.91%
ROIC(3y)5.97%
ROIC(5y)6.25%
HLIT Yearly ROA, ROE, ROICHLIT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20 -30

1.3 Margins

  • With a decent Operating Margin value of 3.93%, HLIT is doing good in the industry, outperforming 62.50% of the companies in the same industry.
  • In the last couple of years the Operating Margin of HLIT has declined.
  • HLIT's Gross Margin of 53.28% is fine compared to the rest of the industry. HLIT outperforms 70.83% of its industry peers.
  • In the last couple of years the Gross Margin of HLIT has remained more or less at the same level.
Industry RankSector Rank
OM 3.93%
PM (TTM) N/A
GM 53.28%
OM growth 3Y-15.76%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.44%
GM growth 5Y-1.31%
HLIT Yearly Profit, Operating, Gross MarginsHLIT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20 40

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6

2. HLIT Health Analysis

2.1 Basic Checks

  • HLIT has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for HLIT has been reduced compared to 1 year ago.
  • Compared to 5 years ago, HLIT has more shares outstanding
  • The debt/assets ratio for HLIT is higher compared to a year ago.
HLIT Yearly Shares OutstandingHLIT Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
HLIT Yearly Total Debt VS Total AssetsHLIT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.2 Solvency

  • HLIT has an Altman-Z score of -1.09. This is a bad value and indicates that HLIT is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of HLIT (-1.09) is worse than 66.67% of its industry peers.
  • The Debt to FCF ratio of HLIT is 1.16, which is an excellent value as it means it would take HLIT, only 1.16 years of fcf income to pay off all of its debts.
  • HLIT has a better Debt to FCF ratio (1.16) than 75.00% of its industry peers.
  • A Debt/Equity ratio of 0.28 indicates that HLIT is not too dependend on debt financing.
  • The Debt to Equity ratio of HLIT (0.28) is worse than 66.67% of its industry peers.
  • Even though the debt/equity ratio score it not favorable for HLIT, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 1.16
Altman-Z -1.09
ROIC/WACC0.31
WACC8.4%
HLIT Yearly LT Debt VS Equity VS FCFHLIT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M 300M 400M

2.3 Liquidity

  • HLIT has a Current Ratio of 2.50. This indicates that HLIT is financially healthy and has no problem in meeting its short term obligations.
  • With a decent Current ratio value of 2.50, HLIT is doing good in the industry, outperforming 62.50% of the companies in the same industry.
  • HLIT has a Quick Ratio of 2.26. This indicates that HLIT is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of HLIT (2.26) is better than 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 2.5
Quick Ratio 2.26
HLIT Yearly Current Assets VS Current LiabilitesHLIT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. HLIT Growth Analysis

3.1 Past

  • HLIT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -41.77%.
  • The Earnings Per Share has been growing by 45.72% on average over the past years. This is a very strong growth
  • Looking at the last year, HLIT shows a very negative growth in Revenue. The Revenue has decreased by -36.21% in the last year.
  • HLIT shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.98% yearly.
EPS 1Y (TTM)-41.77%
EPS 3Y-5.2%
EPS 5Y45.72%
EPS Q2Q%-68.89%
Revenue 1Y (TTM)-36.21%
Revenue growth 3Y-16.76%
Revenue growth 5Y-0.98%
Sales Q2Q%-55.78%

3.2 Future

  • Based on estimates for the next years, HLIT will show a very strong growth in Earnings Per Share. The EPS will grow by 43.76% on average per year.
  • HLIT is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.40% yearly.
EPS Next Y24.99%
EPS Next 2Y26.81%
EPS Next 3Y43.76%
EPS Next 5YN/A
Revenue Next Year-9%
Revenue Next 2Y3.78%
Revenue Next 3Y10.4%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same 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.
HLIT Yearly Revenue VS EstimatesHLIT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M
HLIT Yearly EPS VS EstimatesHLIT Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.5 1

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6

4. HLIT Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 19.57, the valuation of HLIT can be described as rather expensive.
  • HLIT's Price/Earnings ratio is a bit cheaper when compared to the industry. HLIT is cheaper than 75.00% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of HLIT to the average of the S&P500 Index (25.23), we can say HLIT is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 15.65, HLIT is valued correctly.
  • HLIT's Price/Forward Earnings ratio is rather cheap when compared to the industry. HLIT is cheaper than 83.33% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 22.42. HLIT is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 19.57
Fwd PE 15.65
HLIT Price Earnings VS Forward Price EarningsHLIT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • HLIT's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, HLIT is valued cheaply inside the industry as 89.58% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 10.24
EV/EBITDA 34.86
HLIT Per share dataHLIT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3

4.3 Compensation for Growth

  • HLIT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as HLIT's earnings are expected to grow with 43.76% in the coming years.
PEG (NY)0.78
PEG (5Y)0.43
EPS Next 2Y26.81%
EPS Next 3Y43.76%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. HLIT Dividend Analysis

5.1 Amount

  • No dividends for HLIT!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

HLIT Fundamentals: All Metrics, Ratios and Statistics

HARMONIC INC

NASDAQ:HLIT (3/20/2026, 8:00:01 PM)

After market: 9.08 +0.08 (+0.89%)

9

-0.26 (-2.81%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)02-19
Earnings (Next)04-27
Inst Owners91.82%
Inst Owner Change-0.99%
Ins Owners1.45%
Ins Owner Change6.16%
Market Cap992.16M
Revenue(TTM)432.95M
Net Income(TTM)-43.31M
Analysts73.85
Price Target12.97 (44.11%)
Short Float %2.35%
Short Ratio2.32
Dividend
Industry RankSector Rank
Dividend Yield 0%
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)99.32%
Min EPS beat(2)39.1%
Max EPS beat(2)159.54%
EPS beat(4)4
Avg EPS beat(4)134.55%
Min EPS beat(4)39.1%
Max EPS beat(4)230.84%
EPS beat(8)8
Avg EPS beat(8)97.24%
EPS beat(12)10
Avg EPS beat(12)60.89%
EPS beat(16)14
Avg EPS beat(16)59.32%
Revenue beat(2)1
Avg Revenue beat(2)-11.68%
Min Revenue beat(2)-31.86%
Max Revenue beat(2)8.49%
Revenue beat(4)3
Avg Revenue beat(4)-3.83%
Min Revenue beat(4)-31.86%
Max Revenue beat(4)8.49%
Revenue beat(8)6
Avg Revenue beat(8)-0.96%
Revenue beat(12)7
Avg Revenue beat(12)-1.83%
Revenue beat(16)11
Avg Revenue beat(16)-0.74%
PT rev (1m)7.88%
PT rev (3m)7.88%
EPS NQ rev (1m)10.23%
EPS NQ rev (3m)10.23%
EPS NY rev (1m)-22.82%
EPS NY rev (3m)-22.82%
Revenue NQ rev (1m)-27.45%
Revenue NQ rev (3m)-27.45%
Revenue NY rev (1m)-25.27%
Revenue NY rev (3m)-25.29%
Valuation
Industry RankSector Rank
PE 19.57
Fwd PE 15.65
P/S 2.29
P/FCF 10.24
P/OCF 9.19
P/B 2.59
P/tB 3.08
EV/EBITDA 34.86
EPS(TTM)0.46
EY5.11%
EPS(NY)0.57
Fwd EY6.39%
FCF(TTM)0.88
FCFY9.77%
OCF(TTM)0.98
OCFY10.88%
SpS3.93
BVpS3.48
TBVpS2.92
PEG (NY)0.78
PEG (5Y)0.43
Graham Number6
Profitability
Industry RankSector Rank
ROA -6.03%
ROE -11.3%
ROCE 3.27%
ROIC 2.58%
ROICexc 3.39%
ROICexgc 4.01%
OM 3.93%
PM (TTM) N/A
GM 53.28%
FCFM 22.38%
ROA(3y)3.28%
ROA(5y)3.14%
ROE(3y)5.45%
ROE(5y)5.91%
ROIC(3y)5.97%
ROIC(5y)6.25%
ROICexc(3y)7.27%
ROICexc(5y)7.9%
ROICexgc(3y)10.22%
ROICexgc(5y)22.23%
ROCE(3y)7.56%
ROCE(5y)7.91%
ROICexgc growth 3Y-60.36%
ROICexgc growth 5YN/A
ROICexc growth 3Y-36.22%
ROICexc growth 5YN/A
OM growth 3Y-15.76%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.44%
GM growth 5Y-1.31%
F-Score3
Asset Turnover0.6
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 1.16
Debt/EBITDA 3.88
Cap/Depr 99.98%
Cap/Sales 2.56%
Interest Coverage 4.18
Cash Conversion 384.03%
Profit Quality N/A
Current Ratio 2.5
Quick Ratio 2.26
Altman-Z -1.09
F-Score3
WACC8.4%
ROIC/WACC0.31
Cap/Depr(3y)81.6%
Cap/Depr(5y)83.93%
Cap/Sales(3y)2.12%
Cap/Sales(5y)2.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-41.77%
EPS 3Y-5.2%
EPS 5Y45.72%
EPS Q2Q%-68.89%
EPS Next Y24.99%
EPS Next 2Y26.81%
EPS Next 3Y43.76%
EPS Next 5YN/A
Revenue 1Y (TTM)-36.21%
Revenue growth 3Y-16.76%
Revenue growth 5Y-0.98%
Sales Q2Q%-55.78%
Revenue Next Year-9%
Revenue Next 2Y3.78%
Revenue Next 3Y10.4%
Revenue Next 5YN/A
EBIT growth 1Y-81.54%
EBIT growth 3Y-29.88%
EBIT growth 5YN/A
EBIT Next Year54.73%
EBIT Next 3Y66.76%
EBIT Next 5YN/A
FCF growth 1Y83.74%
FCF growth 3YN/A
FCF growth 5Y69.38%
OCF growth 1Y74.37%
OCF growth 3Y170.09%
OCF growth 5Y22.49%

HARMONIC INC / HLIT Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for HARMONIC INC?

ChartMill assigns a fundamental rating of 5 / 10 to HLIT.


Can you provide the valuation status for HARMONIC INC?

ChartMill assigns a valuation rating of 6 / 10 to HARMONIC INC (HLIT). This can be considered as Fairly Valued.


How profitable is HARMONIC INC (HLIT) stock?

HARMONIC INC (HLIT) has a profitability rating of 4 / 10.


How financially healthy is HARMONIC INC?

The financial health rating of HARMONIC INC (HLIT) is 6 / 10.


What is the expected EPS growth for HARMONIC INC (HLIT) stock?

The Earnings per Share (EPS) of HARMONIC INC (HLIT) is expected to grow by 24.99% in the next year.