HARMONIC INC (HLIT) Fundamental Analysis & Valuation

NASDAQ:HLIT • US4131601027

9.385 USD
-0.12 (-1.31%)
Last: Mar 10, 2026, 03:02 PM
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This HLIT fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Overall HLIT gets a fundamental rating of 5 out of 10. We evaluated HLIT against 48 industry peers in the Communications Equipment industry. Both the profitability and the financial health of HLIT get a neutral evaluation. Nothing too spectacular is happening here. HLIT has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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.
  • In the past 5 years HLIT always reported a positive cash flow from operatings.
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's Return On Assets of -6.03% is on the low side compared to the rest of the industry. HLIT is outperformed by 62.50% of its industry peers.
  • Looking at the Return On Equity, with a value of -11.30%, HLIT is doing worse than 68.75% of the companies in the same industry.
  • HLIT has a Return On Invested Capital of 2.58%. This is in the better half of the industry: HLIT outperforms 62.50% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for HLIT is below the industry average of 10.39%.
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

  • HLIT has a better Operating Margin (3.93%) than 62.50% of its industry peers.
  • HLIT's Operating Margin has declined in the last couple of years.
  • HLIT's Gross Margin of 53.28% is fine compared to the rest of the industry. HLIT outperforms 70.83% of its industry peers.
  • HLIT's Gross Margin has been stable in the last couple of years.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

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.
  • HLIT has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for HLIT has been increased compared to 5 years ago.
  • 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

  • Based on the Altman-Z score of -0.99, we must say that HLIT is in the distress zone and has some risk of bankruptcy.
  • HLIT has a worse Altman-Z score (-0.99) 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's Debt to FCF ratio of 1.16 is fine compared to the rest of the industry. HLIT outperforms 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 64.58% 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 -0.99
ROIC/WACC0.27
WACC9.42%
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.
  • Looking at the Current ratio, with a value of 2.50, HLIT is in the better half of the industry, outperforming 64.58% 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.
  • HLIT has a better Quick ratio (2.26) than 77.08% 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%.
  • Measured over the past years, HLIT shows a very strong growth in Earnings Per Share. The EPS has been growing by 45.72% on average per year.
  • 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

  • HLIT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 43.76% yearly.
  • 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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
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

  • The Price/Earnings ratio is 20.40, which indicates a rather expensive current valuation of HLIT.
  • Based on the Price/Earnings ratio, HLIT is valued a bit cheaper than 77.08% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.45, HLIT is valued a bit cheaper.
  • HLIT is valuated correctly with a Price/Forward Earnings ratio of 16.32.
  • Based on the Price/Forward Earnings ratio, HLIT is valued cheaply inside the industry as 83.33% of the companies are valued more expensively.
  • HLIT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.65.
Industry RankSector Rank
PE 20.4
Fwd PE 16.32
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as HLIT.
  • Based on the Price/Free Cash Flow ratio, HLIT is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 10.68
EV/EBITDA 36.86
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)0.82
PEG (5Y)0.45
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 (3/10/2026, 3:02:48 PM)

9.385

-0.12 (-1.31%)

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 Change6.18%
Market Cap1.03B
Revenue(TTM)432.95M
Net Income(TTM)-43.31M
Analysts73.85
Price Target12.97 (38.2%)
Short Float %2.33%
Short Ratio2.39
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 20.4
Fwd PE 16.32
P/S 2.39
P/FCF 10.68
P/OCF 9.58
P/B 2.7
P/tB 3.21
EV/EBITDA 36.86
EPS(TTM)0.46
EY4.9%
EPS(NY)0.57
Fwd EY6.13%
FCF(TTM)0.88
FCFY9.36%
OCF(TTM)0.98
OCFY10.44%
SpS3.93
BVpS3.48
TBVpS2.92
PEG (NY)0.82
PEG (5Y)0.45
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 -0.99
F-Score3
WACC9.42%
ROIC/WACC0.27
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 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.