Harmonic Inc.
HLIT Nasdaq· Radio & Tv Broadcasting & Communications Equipment
Last close · Oct 23, 2026
$10.05
KIRA · Stoqly’s AI analyst, in plain words
- Harmonic Inc. had $361M of revenue in fiscal 2025, down 26.2% on the year before. Over five years, revenue changed −1.0% a year on average.
- Its operating margin was 3.9%, down 11.4 pts: of every 100 in sales, about 4 is left after running the business.
- Harmonic Inc. lost $43.3M in fiscal 2025.
- Free cash flow was $96.9M in fiscal 2025, 26.9% of revenue.
- Harmonic Inc. returned $79.0M to shareholders in fiscal 2025, 82% of free cash flow. The diluted share count fell 2.8%.
- Harmonic Inc. has $12.0M more cash than debt.
Market cap
$1.1B
P/E
—
Revenue
$361M
Net income
−$43.3M
Free cash flow
$96.9M
Operating margin
3.9%
Harmonic Inc. in 30 seconds · fiscal 2025
Are sales growing?
−26.2%
No. Sales fell 26.2% last year.
Does it make a profit?
−12.0%
No. It lost money last year.
Does profit turn into cash?
26.9%
Yes. 26.9% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
3 / 9
Weak. It passes 3 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Harmonic Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Legal name
- HARMONIC INC.
- CIK
- 0000851310
Harmonic Inc. · HLIT
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $507M | $625M | $388M | $488M | $361M |
| Revenue growth | 33.9% | 23.2% | −37.8% | 25.7% | −26.2% |
| Gross margin | 51.2% | 50.5% | 45.9% | 49.2% | 48.5% |
| Operating margin | 3.7% | 7.3% | 7.7% | 15.3% | 3.9% |
| Net income | $13.3M | $28.2M | $84.0M | $39.2M | −$43.3M |
| Net margin | 2.6% | 4.5% | 21.6% | 8.0% | −12.0% |
| Diluted EPS | $0.12 | $0.25 | $0.72 | $0.33 | −$0.38 |
| Cash | |||||
| Cash from operations | $41.0M | $5.5M | $7.1M | $61.9M | $108M |
| Capital expenditure | $13.0M | $9.3M | $8.5M | $9.2M | $11.1M |
| Free cash flow | $28.0M | −$3.8M | −$1.4M | $52.7M | $96.9M |
| FCF margin | 5.5% | −0.6% | −0.4% | 10.8% | 26.9% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | — |
| Share buybacks | $0.0M | $5.1M | $0.0M | $30.0M | $79.0M |
| Share count change | 9.5% | 5.8% | 4.4% | 0.1% | −2.8% |
| Debt and strength | |||||
| Cash and short-term investments | $133M | $89.6M | $84.3M | $101M | $124M |
| Debt incl. finance leases | $18.0M | $15.9M | $0.0M | $114M | $112M |
| Shareholders' equity | $296M | $325M | $437M | $465M | $383M |
| Net debt / EBITDA | −3.7x | −1.3x | −2.0x | 0.1x | −0.5x |
| Current ratio | 1.4x | 1.1x | 1.2x | 2.9x | 2.5x |
| Interest coverage | 1.8x | 9.0x | 11.1x | 11.6x | 3.7x |
| Returns and quality | |||||
| Return on capital | 10.4% | 11.8% | 8.5% | 11.1% | 2.5% |
| Return on equity | 4.8% | 9.1% | 22.1% | 8.7% | −10.2% |
| Return on tangible equity | 23.8% | 32.5% | 22.3% | 9.7% | −13.4% |
| Piotroski F-score | 6 | 5 | 5 | 6 | 3 |
| Altman Z'' | −7.9 | −7.9 | −6.2 | −2.8 | −5.4 |
Insiders bought, 12 months
$0.5M
1 insider
Insiders sold, 12 months
$0.8M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Harmonic Inc. · HLIT
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $10.05 a share, the company is worth $1.1B.
Source: SEC EDGAR XBRL filings (CIK 0000851310). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.