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HLIT · Nasdaq · United States · Radio & Tv Broadcasting & Communications Equipment
In shortHARMONIC INC. is loss-making, generates cash and holds more cash than debt, with revenue shrinking (−26.2% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 3.9% | 30/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -12.0% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -10.2% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 2.2% | 15/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.50× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.29× | 95/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 3.71× | 21/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -5.38 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 26.9% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 4 of 5 | 80/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 33.1% | 0/100 |
| Operating margin volatility | 4.7% | 66/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -16.8% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 507 | 625 | 388 | 488 | 361 |
| Cost of revenue | 247 | 309 | 210 | 248 | 186 |
| Gross profit | 260 | 316 | 178 | 240 | 175 |
| Research & development | 102 | 120 | 70 | 73 | 76 |
| Selling, general & admin | 138 | 147 | 78 | 79 | 81 |
| Operating income | 19 | 46 | 30 | 75 | 14 |
| Interest expense | 11 | 5 | 2.7 | 6.5 | 3.8 |
| Pre-tax income | 8.9 | 44 | 28 | 72 | 8.9 |
| Income tax | (4.4) | 16 | (60) | 21 | 7.6 |
| Net income | 13 | 28 | 84 | 39 | (43) |
| Diluted EPS | $0.12 | $0.25 | $0.72 | $0.33 | −$0.38 |
| Diluted shares (millions) | 106 | 112 | 117 | 117 | 114 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
−5.38 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jul 3, 2026 · Data updated Aug 17, 2026