HARMONIC INC (HLIT) Fundamental Analysis & Valuation

NASDAQ:HLIT • US4131601027

Current stock price

10.56 USD
+0.13 (+1.25%)
At close:
10.56 USD
0 (0%)
After Hours:

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

3

1. HLIT Profitability Analysis

1.1 Basic Checks

  • In the past year HLIT was profitable.
  • HLIT had a positive operating cash flow in the past year.
  • HLIT had positive earnings in 4 of the past 5 years.
  • HLIT had a positive operating cash flow in each of the past 5 years.
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 76.09% of its industry peers.
  • HLIT has a Return On Equity of -11.30%. This is in the lower half of the industry: HLIT underperforms 73.91% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.58%, HLIT is in line with its industry, outperforming 58.70% of the companies in the same industry.
  • HLIT had an Average Return On Invested Capital over the past 3 years of 5.97%. This is below the industry average of 10.44%.
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's Operating Margin of 3.93% is in line compared to the rest of the industry. HLIT outperforms 58.70% of its industry peers.
  • HLIT's Operating Margin has declined in the last couple of years.
  • HLIT has a better Gross Margin (53.28%) than 69.57% 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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5

2. HLIT Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), HLIT is destroying value.
  • HLIT has less shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, HLIT has more shares outstanding
  • HLIT has a worse debt/assets ratio than last year.
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 -0.79, we must say that HLIT is in the distress zone and has some risk of bankruptcy.
  • HLIT has a Altman-Z score of -0.79. This is in the lower half of the industry: HLIT underperforms 71.74% of its industry peers.
  • HLIT has a debt to FCF ratio of 1.16. This is a very positive value and a sign of high solvency as it would only need 1.16 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.16, HLIT is in the better half of the industry, outperforming 69.57% of the companies in the same industry.
  • A Debt/Equity ratio of 0.28 indicates that HLIT is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.28, HLIT is doing worse than 67.39% of the companies in the same industry.
  • 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 -0.79
ROIC/WACC0.27
WACC9.6%
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.
  • HLIT has a Current ratio (2.50) which is comparable to the rest of the 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 73.91% 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.
  • The Revenue for HLIT has decreased by -36.21% in the past year. This is quite bad
  • 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.
  • Based on estimates for the next years, HLIT will show a quite strong growth in Revenue. The Revenue will grow by 10.40% on average per year.
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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5

4. HLIT Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 22.96, the valuation of HLIT can be described as rather expensive.
  • Based on the Price/Earnings ratio, HLIT is valued a bit cheaper than 73.91% of the companies in the same industry.
  • HLIT is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 18.37, which indicates a rather expensive current valuation of HLIT.
  • HLIT's Price/Forward Earnings ratio is rather cheap when compared to the industry. HLIT is cheaper than 80.43% of the companies in the same industry.
  • HLIT's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.24.
Industry RankSector Rank
PE 22.96
Fwd PE 18.37
HLIT Price Earnings VS Forward Price EarningsHLIT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • HLIT's Enterprise Value to EBITDA is on the same level as the industry average.
  • 86.96% of the companies in the same industry are more expensive than HLIT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 12.02
EV/EBITDA 40.98
HLIT Per share dataHLIT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 1 2 3

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • HLIT's earnings are expected to grow with 43.76% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.92
PEG (5Y)0.5
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%

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HLIT Fundamentals: All Metrics, Ratios and Statistics

HARMONIC INC

NASDAQ:HLIT (4/24/2026, 8:00:01 PM)

After market: 10.56 0 (0%)

10.56

+0.13 (+1.25%)

Chartmill FA Rating
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)02-19
Earnings (Next)05-11
Inst Owners91.48%
Inst Owner Change-0.66%
Ins Owners1.47%
Ins Owner Change6.21%
Market Cap1.16B
Revenue(TTM)432.95M
Net Income(TTM)-43.31M
Analysts73.85
Price Target12.97 (22.82%)
Short Float %2.83%
Short Ratio2.71
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)0%
PT rev (3m)7.88%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.23%
EPS NY rev (1m)0%
EPS NY rev (3m)-22.82%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-27.45%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-25.27%
Valuation
Industry RankSector Rank
PE 22.96
Fwd PE 18.37
P/S 2.69
P/FCF 12.02
P/OCF 10.78
P/B 3.04
P/tB 3.61
EV/EBITDA 40.98
EPS(TTM)0.46
EY4.36%
EPS(NY)0.57
Fwd EY5.44%
FCF(TTM)0.88
FCFY8.32%
OCF(TTM)0.98
OCFY9.27%
SpS3.93
BVpS3.48
TBVpS2.92
PEG (NY)0.92
PEG (5Y)0.5
Graham Number5.99845 (-43.2%)
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 -0.79
F-Score3
WACC9.6%
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 Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for HARMONIC INC?

ChartMill assigns a fundamental rating of 4 / 10 to HLIT.


What is the valuation status of HARMONIC INC (HLIT) stock?

ChartMill assigns a valuation rating of 5 / 10 to HARMONIC INC (HLIT). This can be considered as Fairly Valued.


Can you provide the profitability details for HARMONIC INC?

HARMONIC INC (HLIT) has a profitability rating of 3 / 10.


What are the PE and PB ratios of HARMONIC INC (HLIT) stock?

The Price/Earnings (PE) ratio for HARMONIC INC (HLIT) is 22.96 and the Price/Book (PB) ratio is 3.04.


What is the earnings growth outlook for HARMONIC INC?

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