stockrowHarrow, Inc.
HROW Healthcare Drug Manufacturers Specialty & Generic
Harrow, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $272.3 million, up 36.4% from fiscal 2024.
- Revenue
- +10.9%
- EPS
- −428.6%
- Free cash flow
- −838.8%
- Total debt
- +659.7%
Quarter to June 2026, against a year earlier
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Harrow, Inc. (HROW) Piotroski F-score
Harrow, Inc.'s Piotroski F-score for fiscal 2025 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 6 | 2.00 |
| FY2024 | 4 | 0.00 |
| FY2023 | 4 | (1.00) |
| FY2022 | 5 | 0.00 |
| FY2021 | 5 | 1.00 |
| FY2020 | 4 | (2.00) |
| FY2019 | 6 | (1.00) |
| FY2018 | 7 | 3.00 |
| FY2017 | 4 | (2.00) |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (1.30%) | (4.99%) | Fail | 0 |
| Positive operating cash flow | 43.86m | (22.20m) | Pass | 1 |
| Rising return on assets | (1.30%) | (4.99%) | Pass | 1 |
| Cash flow above net income | 49.00m | (4.72m) | Pass | 1 |
| Falling long-term leverage | 0.62 | 0.63 | Pass | 1 |
| Rising current ratio | 2.20 | 2.08 | Pass | 1 |
| No new shares issued | 36,760,500 | 35,650,700 | Fail | 0 |
| Rising gross margin | 75.05% | 75.33% | Fail | 0 |
| Rising asset turnover | 0.69 | 0.57 | Pass | 1 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| PCRX Pacira BioSciences, Inc. compare | 8 |
| COLL Collegium Pharmaceutical, Inc. compare | 7 |
| ANIP ANI Pharmaceuticals, Inc. compare | 7 |
| AMPH Amphastar Pharmaceuticals, Inc. compare | 6 |
| PAHC Phibro Animal Health Corporation compare | 6 |
| HROW Harrow, Inc. | 6 |
| ETON Eton Pharmaceuticals, Inc. compare | 5 |
| CRON Cronos Group Inc. compare | 5 |
| ALVO Alvotech compare | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover