Overview Dividends

(HLIT) Harmonic - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4131601027

Broadcast,Video,Infrastructure,Servers,Storage

HLIT EPS (Earnings per Share)

EPS Growth (3Y CAGR): -11.90%
EPS Trend (3Y Correlation): 20.2%

HLIT Revenue

Revenue Growth (3Y CAGR): -5.08%
Revenue Trend (3Y Correlation): -3.5%

Risk via 10d forecast
Volatility	46.3%
Value at Risk 5%th	61.4%

Reward
Sharpe Ratio	-0.34
Alpha	-33.42

Character
Hurst Exponent	0.352
Beta	1.053

Drawdowns 3y
Max DD	55.14%
Mean DD	31.84%

Description: HLIT Harmonic August 21, 2025

Harmonic Inc, listed on NASDAQ under the ticker symbol HLIT, operates in the Communications Equipment sub-industry. The companys stock is a common stock originating from the United States.

To evaluate the investment potential of HLIT, we need to analyze its financial health and key performance indicators (KPIs). The market capitalization of Harmonic Inc stands at approximately $1.013 billion, indicating a mid-cap company. The Price-to-Earnings (P/E) ratio is 15.10, suggesting that the stock is reasonably valued relative to its earnings. However, the forward P/E ratio of 19.19 indicates expected growth in earnings. The Return on Equity (RoE) of 15.37% signifies that the company is generating substantial returns for its shareholders.

Key economic drivers for Harmonic Inc include the demand for communications equipment, driven by the ongoing deployment of 5G networks, increasing demand for bandwidth, and the need for efficient data transmission solutions. The companys performance is closely tied to the telecommunications industrys capital expenditure trends. Harmonics ability to innovate and adapt to emerging technologies will be crucial in maintaining its competitive edge.

To further assess HLITs investment potential, its essential to examine its income statement, particularly the yearly Income Tax Expense, to understand the companys tax obligations and their impact on net income. A thorough analysis of the companys cash flow statements and balance sheet will provide insights into its liquidity, debt management, and overall financial stability.

From a trading perspective, Harmonic Incs stock price movements and volatility should be analyzed in the context of the broader market and industry trends. The stocks beta of 0.999 indicates that it is closely correlated with the overall market, suggesting that its price movements are likely to mirror those of the broader market.

HLIT Stock Overview

Market Cap in USD	1,123m
Sub-Industry	Communications Equipment
IPO / Inception	1995-05-22
Return 12m vs S&P 500	-30.2%
Analyst Rating	4.0 of 5

HLIT Dividends

Currently no dividends paid

HLIT Growth Ratios

CAGR	-9.13%
CAGR/Max DD Calmar Ratio	-0.17
CAGR/Mean DD Pain Ratio	-0.29
Current Volume	886.6k
Average Volume	693.5k

Piotroski VR‑10 (Strict, 0-10) 8.5

Net Income (49.6m TTM) > 0 and > 6% of Revenue (6% = 38.1m TTM)

FCFTA 0.18 (>2.0%) and ΔFCFTA 16.27pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 26.73% (prev 28.01%; Δ -1.28pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.19 (>3.0%) and CFO 144.2m > Net Income 49.6m (YES >=105%, WARN >=100%)

Net Debt (19.2m) to EBITDA (94.9m) ratio: 0.20 <= 3.0 (WARN <= 3.5)

Current Ratio 2.08 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (113.3m) change vs 12m ago -3.44% (target <= -2.0% for YES)

Gross Margin 55.71% (prev 51.81%; Δ 3.89pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 83.73% (prev 82.07%; Δ 1.66pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 13.07 (EBITDA TTM 94.9m / Interest Expense TTM 6.40m) >= 6 (WARN >= 3)

Altman Z'' -13.13

(A) 0.22 = (Total Current Assets 327.0m - Total Current Liabilities 157.1m) / Total Assets 758.6m

(B) -2.65 = Retained Earnings (Balance) -2.01b / Total Assets 758.6m

warn (B) unusual magnitude: -2.65 — check mapping/units

(D) -6.39 = Book Value of Equity -2.02b / Total Liabilities 315.6m

Total Rating: -13.13 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 64.89

1. Piotroski 8.50pt = 3.50

2. FCF Yield 11.68% = 5.0

3. FCF Margin 20.99% = 5.25

4. Debt/Equity 0.33 = 2.45

5. Debt/Ebitda 0.20 = 2.47

6. ROIC - WACC (= -4.35)% = -5.44

7. RoE 11.02% = 0.92

8. Rev. Trend -3.49% = -0.26

9. EPS Trend 20.25% = 1.01

What is the price of HLIT shares?

As of November 11, 2025, the stock is trading at USD 10.09 with a total of 886,634 shares traded.
Over the past week, the price has changed by -5.44%, over one month by +3.91%, over three months by +15.31% and over the past year by -19.54%.

Is Harmonic a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Harmonic is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 64.89 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of HLIT is around 8.59 USD . This means that HLIT is currently overvalued and has a potential downside of -14.87%.

Is HLIT a buy, sell or hold?

Harmonic has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy HLIT.

Strong Buy: 2
Buy: 2
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the HLIT price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	11.4	12.6%
Analysts Target Price	11.4	12.6%
ValueRay Target Price	9.6	-4.9%

HLIT Fundamental Data Overview November 10, 2025

Market Cap USD = 1.12b (1.12b USD * 1.0 USD.USD)
P/E Trailing = 23.8333
P/E Forward = 19.1939
P/S = 1.7672
P/B = 2.7013
P/EG = -0.21
Beta = 1.053
Revenue TTM = 635.7m USD
EBIT TTM = 83.7m USD
EBITDA TTM = 94.9m USD
Long Term Debt = 120.8m USD (from longTermDebt, last fiscal year)
Short Term Debt = 14.7m USD (from shortTermDebt, last quarter)
Debt = 146.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 19.2m USD (from netDebt column, last quarter)
Enterprise Value = 1.14b USD (1.12b + Debt 146.6m - CCE 127.4m)
Interest Coverage Ratio = 13.07 (Ebit TTM 83.7m / Interest Expense TTM 6.40m)
FCF Yield = 11.68% (FCF TTM 133.5m / Enterprise Value 1.14b)
FCF Margin = 20.99% (FCF TTM 133.5m / Revenue TTM 635.7m)
Net Margin = 7.81% (Net Income TTM 49.6m / Revenue TTM 635.7m)
Gross Margin = 55.71% ((Revenue TTM 635.7m - Cost of Revenue TTM 281.6m) / Revenue TTM)
Gross Margin QoQ = 54.17% (prev 53.46%)
Tobins Q-Ratio = 1.51 (Enterprise Value 1.14b / Total Assets 758.6m)
Interest Expense / Debt = 0.81% (Interest Expense 1.18m / Debt 146.6m)
Taxrate = 69.20% (6.05m / 8.75m)
NOPAT = 25.8m (EBIT 83.7m * (1 - 69.20%))
Current Ratio = 2.08 (Total Current Assets 327.0m / Total Current Liabilities 157.1m)
Debt / Equity = 0.33 (Debt 146.6m / totalStockholderEquity, last quarter 443.0m)
Debt / EBITDA = 0.20 (Net Debt 19.2m / EBITDA 94.9m)
Debt / FCF = 0.14 (Net Debt 19.2m / FCF TTM 133.5m)
Total Stockholder Equity = 450.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.54% (Net Income 49.6m / Total Assets 758.6m)
RoE = 11.02% (Net Income TTM 49.6m / Total Stockholder Equity 450.2m)
RoCE = 14.66% (EBIT 83.7m / Capital Employed (Equity 450.2m + L.T.Debt 120.8m))
RoIC = 4.43% (NOPAT 25.8m / Invested Capital 581.5m)
WACC = 8.79% (E(1.12b)/V(1.27b) * Re(9.90%) + D(146.6m)/V(1.27b) * Rd(0.81%) * (1-Tc(0.69)))
Discount Rate = 9.90% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.03%
[DCF Debug] Terminal Value 62.56% ; FCFE base≈84.1m ; Y1≈55.2m ; Y5≈25.3m
Fair Price DCF = 3.35 (DCF Value 375.9m / Shares Outstanding 112.2m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 20.25 | EPS CAGR: -11.90% | SUE: 1.22 | # QB: 5
Revenue Correlation: -3.49 | Revenue CAGR: -5.08% | SUE: 2.45 | # QB: 1

Additional Sources for HLIT Stock

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Fund Manager Positions: Dataroma | Stockcircle