# Harmonic Inc. (HLIT) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Technology / Networking & Communications Equipment. Price $10.19, market value $1.1 billion.

## Valuation
- **P/E (trailing): 24.9×** (5-yr avg 52.2×, 3-yr avg 29.1×). Harmonic Inc. trades at 24.9× trailing earnings, well below its own five-year average of 52.2×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×. Forward P/E is 11.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.8×**. Each dollar of revenue is priced at 2.8×.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: 0.1%** (5-yr avg 2.8%). Free cash flow equals 0.1% of the market value, below its five-year average of 2.8%, so the shares are pricier on cash than usual.
- **Earnings yield: 4.0%**. The inverse of the P/E: 4.0% of the price is earned each year.

## Profitability
- **Gross margin: 47.9%**. Harmonic Inc. keeps 47.9% of revenue after the direct cost of what it sells.
- **Operating margin: 12.0%**. 12.0% of revenue is left after running the business.
- **Net margin: -12.0%**. The company reported a net loss over the last twelve months.
- **Return on equity: -11.3%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 10.1%**. Return on all capital, debt included, is 10.1%.
- **Return on assets: -6.6%**. Each dollar of assets produces -6.6% of profit.

## Growth
- **Revenue growth (1 yr): -26.2%** (3-yr -16.8%/yr, 5-yr -1.0%/yr). Revenue fell 26.2% over the last year, against -1.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -215.2%**. Earnings per share fell 215.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.29**. Debt is 0.29 times equity: a conservative balance sheet.
- **Current ratio: 2.50** (quick 2.50). Current assets cover the next year's liabilities 2.50 times.
- **Altman Z-score: 3.80**. A Z-score of 3.80 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Harmonic Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -4.8%** (YTD 3.0%, 3-mo -13.6%). The shares are down 4.8% over twelve months including dividends.
- **From 52-week high: -42.4%** (20.3% above the low). Trading 42% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 42**. An RSI of 42 is neutral.
- **Beta (1 yr): 1.94** (volatility 53%). Beta of 1.94 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HLIT · Page: https://foliofundamentals.com/stocks/hlit

Not investment advice.