Stocktoria

HARMONIC INC. HLIT

Nasdaq · stock · Radio & Tv Broadcasting & Communications Equipment · website · IPO 1995-05-22 · LEI

HARMONIC INC. statistics & valuation

Market cap$1.6B
P / S4.5×
P / B4.2×
P / FCF16.7×
Net margin-12.0%
Return on equity-11.3%
FCF margin26.9%
Net cash$12.0M
Net debt / EBITDA-0.5×
Enterprise value USD$1.6B
EV / EBITDA63.8×
Earnings yield EBIT/EV0.9%
Return on capital2.7%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
-17.80% -23.20% -5.20% -1.50% -7.70% 2.60% 4.50% 21.60% 8.00% -12.00% 2016201720182019202020212022202320242025
Gross margin (%)
49.50% 47.40% 51.80% 55.40% 51.50% 51.20% 50.50% 45.90% 49.20% 48.50% 2016201720182019202020212022202320242025
Operating margin (%)
-16.50% -19.80% -1.20% 3.20% -3.30% 3.70% 7.30% 7.70% 15.30% 3.90% 2016201720182019202020212022202320242025
Return on equity (%)
-26.70% -36.10% -9.20% -2.30% -11.30% 4.50% 8.70% 19.20% 8.40% -11.30% 2016201720182019202020212022202320242025
Shares outstanding
78.5M 82.6M 87.1M 91.9M 98.2M 106.2M 112.4M 117.4M 117.5M 114.2M 2016201720182019202020212022202320242025
Net debt ($)
-$36.3M -$35.2M -$46.3M -$75.9M -$76.8M -$115.5M -$73.7M -$84.3M $12.8M -$12.0M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-13.10% -16.30% -4.10% -1.00% -4.90% 1.90% 4.00% 10.90% 4.90% -6.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
-3.60% -2.30% 1.30% 5.20% 1.80% 5.50% -0.60% -0.40% 10.80% 26.90% 2016201720182019202020212022202320242025
Debt / equity (×)
0.07× 0.10× 0.09× 0.07× 0.08× 0.06× 0.05× 0.00× 0.25× 0.29× 2016201720182019202020212022202320242025
EPS ($)
-$0.07 -$0.30 $0.12 $0.25 $0.72 $0.33 -$0.38 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

HARMONIC INC. trades at about 36.4× earnings — below its 10-year norm (10-year range 16.2×–89.7×, median 52.7×).

16.2× 89.7×

Shaded band = 10-year range (16.2×–89.7×); dot = today's 36.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin48.5%49.2%45.9%50.5%51.2%51.5%55.4%51.8%47.4%49.5%
Operating margin3.9%15.3%7.7%7.3%3.7%-3.3%3.2%-1.2%-19.8%-16.5%
Net margin-12.0%8.0%21.6%4.5%2.6%-7.7%-1.5%-5.2%-23.2%-17.8%
FCF margin26.9%10.8%-0.4%-0.6%5.5%1.8%5.2%1.3%-2.3%-3.6%
Return on assets-6.0%4.9%10.9%4.0%1.9%-4.9%-1.0%-4.1%-16.3%-13.1%
Return on equity-11.3%8.4%19.2%8.7%4.5%-11.3%-2.3%-9.2%-36.1%-26.7%
Debt / equity0.29×0.25×0.00×0.05×0.06×0.08×0.07×0.09×0.10×0.07×
Current ratio2.502.941.211.071.441.621.311.441.211.50

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.