Saturday 17 October 2026 Export HLIT’s income statement to Excel — free account

Harmonic Inc.

In the quarter to June 2026, revenue grew 53.6%, EPS fell 166.7%, free cash flow grew 54.6% and total debt fell 11.8%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.

10.69 0.11 +1.04%

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Market cap: $1.2B
P/E: 0.0×
Fwd P/E: 32.4×
Dividend yield: —
F-score: 3/9
Altman Z: −0.97
Beneish M: −3.72
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.50

Total sells 0.79

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	1	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	2	—	—	—	—	—

Insider Ownership 1.46%

Capital & Financial Ratios $m

Market Cap 1,150.00

Revenue 443.88

Net Income (47.14)

Free Cash Flow 53.91

Net Debt (121.25)

Current Ratio 3.05

Debt/Equity 0.31

P/E ratio 0.00

Fwd P/E 32.40

P/S ratio 2.62

P/B ratio 3.22

Past 5Y EPS Growth —

This Y EPS Growth 51.73%

Next Y EPS Growth 13.16%

Next Y revenue growth 43.29%

Next 5Y EPS Growth 25.73%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 76.59%

10-year low 10-year high

P/B against its own 10 years 69.37%

10-year low 10-year high

EV/Sales against its own 10 years 68.04%

10-year low 10-year high

EV/FCF against its own 10 years 18.77%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	84	101	124	232
Receivables	142	144	86	90
Inventory	84	43	48	66
Other	—	267	224	—
	331	565	494	417

	2023	2024	2025	Q'26
Payables	39	28	23	39
ST’ Debt	—	2	3	3
Other	61	142	134	68
	272	192	198	137

Compound Annual Growth %

	10y	5y	3y
Sales	(0.45%)	(0.99%)	(16.75%)
Cash Flow	32.75%	22.48%	170.15%
Earnings	0.00%	0.00%	0.00%
Book Value	1.56%	8.21%	5.70%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	122	133	—	—	—
’25	85	87	142	46	361
’24	122	139	196	32	488
’23	158	156	127	—	388
’22	147	157	156	164	625
’21	112	113	126	156	507
’20	78	74	95	132	379

Fiscal quarters ending in the months shown.

value withheld pending a data check

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	32	(5)	—	—	—
’25	84	(12)	24	12	108
’24	27	(22)	9	49	62
’23	6	(17)	11	6	7
’22	(27)	22	(8)	19	5
’21	2	17	15	7	41
’20	(11)	12	(3)	42	39

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	30	(7)	—	—	—
’25	82	(15)	21	10	97
’24	25	(24)	6	46	53
’23	4	(18)	9	4	(1)
’22	(30)	19	(10)	17	(4)
’21	(2)	13	12	5	28
’20	(22)	2	(9)	36	7

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.07	(0.02)	—	—	—
’25	0.05	0.03	0.02	(0.49)	(0.38)
’24	(0.07)	(0.11)	0.19	0.32	0.33
’23	0.04	0.01	(0.06)	0.72	0.72
’22	(0.01)	0.14	0.08	0.05	0.25
’21	(0.06)	(0.02)	0.01	0.18	0.12
’20	(0.23)	(0.16)	(0.06)	0.13	(0.30)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.51	2.80	2.90	4.51	4.44	6.69	8.25	8.80	9.10	7.80	Analyst estimates 2026–2028 Powerpack
	High	6.13	6.18	6.32	8.39	8.57	12.22	15.80	18.43	15.46	13.68
People
People	Employees	1,376	1,244	1,162	1,172	1,169	1,267	1,340	1,359	1,240	534
	Revenue/emp, $m	0.29	0.29	0.35	0.34	0.32	0.40	0.47	0.29	0.39	0.68
Income, $m
Income, $m	Revenue	406	358	404	403	379	507	625	388	488	361
	Gross margin, %	49.46	47.40	51.84	55.36	51.47	51.22	50.54	45.85	49.18	48.47
	EBT	(80)	(85)	(17)	(7)	(26)	9	44	28	72	9
	EBT margin, %	(19.81)	(23.64)	(4.20)	(1.64)	(6.92)	1.75	7.12	7.17	14.65	2.46
	Net income	(72)	(83)	(21)	(6)	(29)	13	28	84	39	(43)
	Depreciation	39	29	29	40	25	21	12	12	12	69
Per share, $
Per share, $	Revenue	5.22	4.42	4.71	4.50	3.91	5.00	5.95	3.48	4.24	3.17
	Earnings	(0.93)	(1.02)	(0.25)	(0.07)	(0.30)	0.12	0.27	0.75	0.34	(0.38)
	Cash flow	0.01	0.04	0.14	0.35	0.40	0.40	0.05	0.06	0.54	0.95
	Capex	(0.19)	(0.14)	(0.08)	(0.12)	(0.33)	(0.13)	(0.09)	(0.08)	(0.08)	(0.10)
	Free cash flow	(0.19)	(0.10)	0.06	0.23	0.07	0.28	(0.04)	(0.01)	0.46	0.85
	Book value	3.48	2.70	2.67	2.82	2.66	2.92	3.09	3.91	4.04	3.37
	Shares, m	78	81	86	90	97	101	105	112	115	114
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	94.08	49.42	17.48	38.91	0.00
	P/S	1.01	0.95	1.00	1.73	1.89	2.35	2.20	3.79	3.12	3.12
	P/B	1.51	1.56	1.77	2.77	2.77	4.03	4.25	3.37	3.27	2.93
	EV/Sales	1.14	1.16	1.17	1.90	2.05	2.41	2.28	3.92	3.15	3.08
	EV/FCF	(31.53)	(49.76)	90.31	36.54	111.63	43.58	(377.50)	(1,076.11)	29.13	11.48
Cash, $m
Cash, $m	Operating cash flow	0	3	12	31	39	41	5	7	62	108
	Capex	(15)	(11)	(7)	(10)	(32)	(13)	(9)	(8)	(9)	(11)
	Free cash flow	(15)	(8)	5	21	7	28	(4)	(1)	53	97
Balance, $m
Balance, $m	Working capital	72	30	60	59	91	99	23	58	373	296
	Total debt	124	132	135	161	159	162	137	10	114	112
	Net debt	62	75	69	67	60	29	47	(74)	13	(12)
	Shareholders’ equity	271	218	228	252	258	296	325	437	465	383
Returns, %
Returns, %	ROA	(13.40)	(15.62)	(4.13)	(1.08)	(4.97)	2.06	4.02	11.36	5.01	(5.72)
	ROIC	(12.60)	(15.12)	(1.05)	2.56	(2.44)	3.62	7.66	5.17	9.77	2.37
	ROE	(24.15)	(33.93)	(9.42)	(2.46)	(11.46)	4.78	9.08	22.06	8.69	(10.21)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EXTR Extreme Networks, Inc.	$3.0B	67.9×	67.1×	+10.28% (above 0%: growing)	n/m	−13.31% (below 0%: shrinking)	62.17%	6.22%	Compare
DGII Digi International Inc.	$2.7B	53.8×	48.2×	+28.98% (above 0%: growing)	+50.00% (above 0%: growing)	+41.46% (above 0%: growing)	64.85%	16.51%	Compare
VISN Vistance Networks, Inc.	$1.4B	0.2×	9.4×	−1.39% (below 0%: shrinking)	+1,671.43% (above 0%: growing)	−200.40% (below 0%: shrinking)	35.33%	(2.78%)	Compare
HLIT Harmonic Inc.	$1.2B	— (loss-making)	32.4×	+53.55% (above 0%: growing)	n/m	+54.60% (above 0%: growing)	52.37%	17.71%
FEIM Frequency Electronics, Inc.	$788.9M	261×	65.7×	+69.79% (above 0%: growing)	+485.71% (above 0%: growing)	+361.82% (above 0%: growing)	45.84%	22.17%	Compare
TSAT Telesat Corporation	$709.9M	— (loss-making)	— (loss-making)	−25.15% (below 0%: shrinking)	n/m	+68.09% (above 0%: growing)	93.15%	(16.02%)	Compare
GILT Gilat Satellite Networks Ltd.	$620.1M	17.0×	44.7×	+16.86% (above 0%: growing)	−35.29% (below 0%: shrinking)	−250.32% (below 0%: shrinking)	30.37%	3.83%	Compare
NTGR NETGEAR, Inc.	$606.4M	— (loss-making)	— (loss-making)	−1.16% (below 0%: shrinking)	n/m	−118.63% (below 0%: shrinking)	40.21%	(5.01%)	Compare
ADTN ADTRAN Holdings, Inc.	$532.1M	— (loss-making)	— (loss-making)	+6.07% (above 0%: growing)	n/m	−52.65% (below 0%: shrinking)	36.97%	(3.58%)	Compare
Median of peers	$749.4M	53.8×	48.2×	+8.18%	+267.86%	−32.98%	43.03%	0.53%

All 47 Communication Equipment stocks →

Harmonic Inc. (HLIT) key facts

Harmonic Inc. (HLIT) is a Communication Equipment company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, HLIT traded at $10.69, a market capitalization of $1.2 billion.
Return on equity was −10.2% and debt-to-equity 0.31.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −0.97 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.