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

Harrow, 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. In the quarter to June 2026, revenue grew 10.9%, EPS fell 428.6%, free cash flow fell 838.8% and total debt rose 659.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

27.28 1.47 −5.11%

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Market cap: $1.1B
P/E: 0.0×
Fwd P/E: 134×
Dividend yield: —
F-score: 6/9
Altman Z: 3.84
Beneish M: −3.04
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 0.47

Total sells 9.63

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	4	—	—	—	—	—
Sell	—	—	1	1	1	—	—	—	—	1	—	—

Insider Ownership 14.86%

Capital & Financial Ratios $m

Market Cap 1,080.00

Revenue 275.59

Net Income (37.23)

Free Cash Flow (13.08)

Net Debt 208.49

Current Ratio 2.24

Debt/Equity 19.70

P/E ratio 0.00

Fwd P/E 134.00

P/S ratio 3.70

P/B ratio 68.64

Past 5Y EPS Growth —

This Y EPS Growth 47.62%

Next Y EPS Growth 3,072.74%

Next Y revenue growth 28.57%

Next 5Y EPS Growth 15.00%

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 56.25%

10-year low 10-year high

P/B against its own 10 years 92.35%

10-year low 10-year high

EV/Sales against its own 10 years 67.12%

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	83	47	73	84
Receivables	36	116	111	119
Inventory	11	11	14	17
Other	—	—	—	—
	139	190	212	229

	2023	2024	2025	Q'26
Payables	25	41	42	34
ST’ Debt	—	—	—	—
Other	—	—	—	—
	49	91	96	102

Compound Annual Growth %

	10y	5y	3y
Sales	39.56%	40.99%	45.39%
Cash Flow	0.00%	0.00%	195.21%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	14.19%	24.12%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	44	71	—	—	—
’25	48	64	72	89	272
’24	35	49	49	67	200
’23	26	33	34	36	130
’22	22	23	23	20	89
’21	15	18	19	20	72
’20	12	8	14	15	49

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(9)	(10)	—	—	—
’25	20	(1)	17	8	44
’24	(5)	(3)	3	(18)	(22)
’23	(8)	5	(1)	9	4
’22	1	5	0	(4)	2
’21	3	5	(2)	(1)	5
’20	(1)	(3)	3	(1)	(1)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(27)	(10)	—	—	—
’25	19	(1)	16	8	43
’24	(5)	(3)	2	(55)	(61)
’23	(139)	3	(21)	8	(149)
’22	1	5	(1)	(4)	0
’21	3	4	(2)	(16)	(11)
’20	(1)	(3)	2	(1)	(2)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.74)	(0.46)	—	—	—
’25	(0.50)	0.13	0.03	0.17	(0.14)
’24	(0.38)	(0.18)	(0.12)	0.19	(0.49)
’23	(0.22)	(0.14)	(0.13)	(0.26)	(0.75)
’22	(0.09)	(0.23)	(0.24)	0.04	(0.51)
’21	0.01	(0.11)	(0.31)	(0.27)	(0.69)
’20	(0.50)	(0.01)	0.33	0.04	(0.13)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.65	1.35	1.45	4.10	3.33	6.00	5.40	7.60	9.13	20.85	Analyst estimates 2026–2028 Powerpack
	High	6.94	4.69	6.50	8.99	7.89	12.99	15.14	28.25	59.23	51.53
People
People	Employees	144	128	134	133	125	182	217	315	382	373
	Revenue/emp, $m	0.14	0.21	0.31	0.38	0.39	0.40	0.41	0.41	0.52	0.73
Income, $m
Income, $m	Revenue	20	27	41	51	49	72	89	130	200	272
	Gross margin, %	50.70	49.56	60.07	67.26	70.41	74.87	71.35	69.55	75.33	75.05
	EBT	(19)	(13)	15	0	(3)	(18)	(14)	(24)	(17)	(1)
	EBT margin, %	(96.27)	(48.26)	35.35	(0.23)	(6.99)	(24.66)	(15.81)	(18.21)	(8.68)	(0.50)
	Net income	(19)	(12)	15	0	(3)	(18)	(14)	(24)	(17)	(5)
	Depreciation	2	3	2	3	3	3	4	16	19	24
Per share, $
Per share, $	Revenue	1.56	1.34	1.89	2.02	1.89	2.71	3.23	3.99	5.60	7.41
	Earnings	(1.50)	(0.60)	0.67	0.01	(0.13)	(0.69)	(0.51)	(0.75)	(0.49)	(0.14)
	Cash flow	(0.88)	(0.44)	0.03	0.04	(0.04)	0.19	0.06	0.12	(0.62)	1.19
	Capex	(0.56)	(0.05)	(0.10)	(0.07)	(0.04)	(0.59)	(0.06)	(4.68)	(1.08)	(0.03)
	Free cash flow	(1.44)	(0.49)	(0.07)	(0.03)	(0.08)	(0.41)	0.00	(4.56)	(1.71)	1.16
	Book value	0.50	0.13	1.13	1.08	1.04	0.41	0.99	2.16	1.94	1.42
	Shares, m	13	20	22	25	26	27	27	33	36	37
Valuation, ×
Valuation, ×	P/E	0.00	0.00	8.62	389.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	1.58	1.29	3.01	3.85	3.63	3.19	4.58	2.99	5.99	6.61
	P/B	4.89	13.25	5.04	7.19	6.62	21.15	14.90	5.54	17.26	34.58
	EV/Sales	1.59	1.69	2.62	3.55	3.30	3.53	4.65	3.82	6.87	7.25
	EV/FCF	(1.73)	(4.62)	(71.54)	(205.57)	(77.45)	(23.63)	(10,844.38)	(3.34)	(22.54)	46.20
Cash, $m
Cash, $m	Operating cash flow	(11)	(9)	1	1	(1)	5	2	4	(22)	44
	Capex	(7)	(1)	(2)	(2)	(1)	(16)	(2)	(153)	(39)	(1)
	Free cash flow	(18)	(10)	(2)	(1)	(2)	(11)	0	(149)	(61)	43
Balance, $m
Balance, $m	Working capital	5	3	21	24	30	51	100	90	98	115
	Total debt	14	15	15	15	16	72	104	186	220	243
	Net debt	5	11	(13)	(15)	(16)	21	2	103	172	170
	Shareholders’ equity	6	3	25	27	27	11	27	70	69	52
Returns, %
Returns, %	ROA	(92.26)	(46.85)	39.87	0.31	(5.76)	(23.72)	(11.02)	(10.40)	(4.99)	(1.30)
	ROIC	(89.71)	(55.40)	(27.77)	(25.14)	2.32	3.16	4.06	0.16	2.28	8.58
	ROE	(756.37)	(264.95)	106.88	0.64	(12.38)	(97.88)	(73.80)	(50.00)	(25.03)	(8.47)

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
XERS Xeris Biopharma Holdings, Inc.	$1.8B	— (loss-making)	54.5×	+28.74% (above 0%: growing)	n/m	+8,403.09% (above 0%: growing)	86.41%	5.62%	Compare
ANIP ANI Pharmaceuticals, Inc.	$1.7B	14.9×	14.5×	+25.87% (above 0%: growing)	+194.59% (above 0%: growing)	−22.19% (below 0%: shrinking)	62.35%	15.21%	Compare
PAHC Phibro Animal Health Corporation	$1.5B	15.8×	11.1×	+4.77% (above 0%: growing)	+28.57% (above 0%: growing)	−35.73% (below 0%: shrinking)	33.88%	12.14%	Compare
ETON Eton Pharmaceuticals, Inc.	$1.5B	107×	40.3×	+98.59% (above 0%: growing)	n/m	−8.78% (below 0%: shrinking)	67.61%	34.04%	Compare
PCRX Pacira BioSciences, Inc.	$1.5B	104×	33.7×	+6.24% (above 0%: growing)	n/m	+502.51% (above 0%: growing)	77.05%	2.22%	Compare
CRON Cronos Group Inc.	$1.2B	16.1×	32.2×	+58.44% (above 0%: growing)	n/m	+2,279.22% (above 0%: growing)	53.67%	13.97%	Compare
AMPH Amphastar Pharmaceuticals, Inc.	$1.1B	14.9×	14.7×	+5.44% (above 0%: growing)	+4.55% (above 0%: growing)	+87.61% (above 0%: growing)	50.83%	21.60%	Compare
HROW Harrow, Inc.	$1.1B	— (loss-making)	134×	+10.85% (above 0%: growing)	n/m	−838.78% (below 0%: shrinking)	71.27%	(15.58%)
COLL Collegium Pharmaceutical, Inc.	$754.6M	15.2×	12.5×	+6.32% (above 0%: growing)	n/m	−2.14% (below 0%: shrinking)	55.18%	1.85%	Compare
Median of peers	$1.5B	15.8×	23.5×	+16.09%	+28.57%	+42.74%	58.77%	13.06%

All 86 Drug Manufacturers Specialty & Generic stocks →

Harrow, Inc. (HROW) key facts

Concern: Harrow, Inc. reported a net loss of $5.1 million, or a loss of $0.14 per share, for fiscal 2025.
Strength: Harrow, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $272.3 million, up 36.4% from fiscal 2024.
Harrow, Inc. (HROW) is a Drug Manufacturers Specialty & Generic company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, HROW traded at $27.28, a market capitalization of $1.1 billion.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 3.7× sales.
Return on equity was −8.47% and debt-to-equity 19.70.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.84 (safe zone) for fiscal 2025.