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

Harmonic Inc.

HLIT Technology Communication Equipment

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%
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 (at or above 1.5: strong)
Debt/Equity 0.31 (at or below 0.5: strong)
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% (at or above 15%: strong)
Next Y EPS Growth 13.16%
Next Y revenue growth 43.29% (at or above 10%: strong)
Next 5Y EPS Growth 25.73% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 2.0×; over the ten years it ranged from 0.6× in 2016 to 5.2× in 2024.
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.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Harmonic Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

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.

Harmonic Inc. (HLIT) Latest News

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stockrow.com/HLIT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com