Harmonic (HLIT) Financials

$9.24 -0.10 (-1.07%)

Closing price 05/21/2025 04:00 PM Eastern

Extended Trading

$9.20 -0.04 (-0.38%)

As of 05/21/2025 07:34 PM Eastern

Annual Income Statements for Harmonic

This table shows Harmonic's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	39	84	28	13	-29	-5.92	-21	-83	-72	-16	-46
Consolidated Net Income / (Loss)	39	84	28	13	-29	-5.92	-21	-83	-72	-16	-46
Net Income / (Loss) Continuing Operations	39	84	28	13	-29	-5.92	-21	-83	-72	-16	-46
Total Pre-Tax Income	58	19	44	8.87	-26	-6.60	-17	-85	-80	-16	-22
Total Operating Income	63	22	46	19	-12	13	-5.01	-71	-67	-13	-22
Total Gross Profit	366	313	316	260	195	223	209	170	201	203	212
Total Revenue	679	608	625	507	379	403	404	358	406	377	434
Operating Revenue	679	608	625	507	379	403	404	358	406	377	434
Total Cost of Revenue	313	295	309	247	184	180	194	188	205	174	221
Operating Cost of Revenue	313	295	309	247	184	180	194	188	205	174	221
Total Operating Expenses	303	290	270	241	207	210	214	241	268	216	234
Selling, General & Admin Expense	153	163	147	138	120	119	119	136	144	121	131
Research & Development Expense	121	126	120	102	82	85	89	96	98	88	93
Impairment Charge	13	0.00	0.00	-	-	-	-	-	-	-	-
Restructuring Charge	16	0.81	3.34	0.11	2.32	3.14	2.92	5.31	15	1.37	2.76
Total Other Income / (Expense), net	-5.20	-3.03	-1.03	-9.94	-14	-20	-12	-14	-13	-3.12	-0.22
Interest Expense	7.33	2.70	5.04	11	13	17	11	0.00	-	-	-
Other Income / (Expense), net	2.12	-0.34	4.01	0.69	-0.90	-2.33	-0.54	-2.22	-0.03	-0.28	-0.36
Income Tax Expense	19	-65	16	-4.38	3.05	-0.67	4.09	-1.75	-8.12	-0.41	24
Basic Earnings per Share	$0.34	$0.75	$0.27	$0.13	($0.30)	($0.07)	($0.25)	($1.02)	($0.93)	($0.18)	($0.50)
Weighted Average Basic Shares Outstanding	115.12M	111.65M	105.08M	101.48M	96.97M	89.58M	85.62M	80.97M	77.71M	87.51M	92.51M
Diluted Earnings per Share	$0.33	$0.72	$0.25	$0.12	($0.30)	($0.07)	($0.25)	($1.02)	($0.93)	($0.18)	($0.50)
Weighted Average Diluted Shares Outstanding	117.48M	117.36M	112.38M	106.17M	96.97M	89.58M	85.62M	80.97M	77.71M	87.51M	92.51M
Weighted Average Basic & Diluted Shares Outstanding	117.05M	111.91M	111.07M	103.74M	96.97M	89.58M	85.62M	80.97M	77.71M	87.51M	92.51M

This table shows Harmonic's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/28/2025	12/31/2024	9/27/2024	6/28/2024	3/29/2024	12/31/2023	9/29/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	5.94	38	22	-13	-8.09	84	-6.50	1.56	5.09	6.13	8.74
Consolidated Net Income / (Loss)	5.94	38	22	-13	-8.09	84	-6.50	1.56	5.09	6.13	8.74
Net Income / (Loss) Continuing Operations	5.94	38	22	-13	-8.09	84	-6.50	1.56	5.09	6.13	8.74
Total Pre-Tax Income	8.48	56	29	-16	-11	8.81	-8.88	9.03	10	15	10
Total Operating Income	10	53	35	-16	-9.53	9.63	-8.60	9.96	11	16	11
Total Gross Profit	79	125	105	73	63	82	62	85	84	86	79
Total Revenue	133	222	196	139	122	167	127	156	158	164	156
Operating Revenue	133	222	196	139	122	167	127	156	158	164	156
Total Cost of Revenue	55	98	91	65	59	85	66	71	74	79	77
Operating Cost of Revenue	55	98	91	65	59	85	66	71	74	-	77
Total Operating Expenses	68	72	69	89	73	72	70	75	73	69	67
Selling, General & Admin Expense	37	39	36	40	39	42	39	43	39	37	36
Research & Development Expense	31	31	30	29	31	30	30	32	34	31	30
Restructuring Charge	0.00	1.17	0.28	11	3.04	-	0.73	0.00	0.08	1.21	0.34
Total Other Income / (Expense), net	-1.65	3.23	-6.62	-0.81	-1.01	-0.82	-0.28	-0.94	-1.00	-1.14	-1.40
Interest Expense	1.47	2.49	2.69	1.42	0.72	0.57	0.62	0.80	0.71	0.93	1.28
Other Income / (Expense), net	-0.17	5.73	-3.93	0.62	-0.29	-0.25	0.34	-0.14	-0.29	-0.21	-0.12
Income Tax Expense	2.54	18	7.09	-3.90	-2.45	-75	-2.38	7.47	5.09	9.21	1.28
Basic Earnings per Share	$0.05	$0.33	$0.19	($0.11)	($0.07)	$0.75	($0.06)	$0.01	$0.05	$0.06	$0.08
Weighted Average Basic Shares Outstanding	116.32M	115.12M	116.40M	115.03M	112.35M	111.65M	112.03M	111.46M	110.79M	105.08M	105.23M
Diluted Earnings per Share	$0.05	$0.32	$0.19	($0.11)	($0.07)	$0.73	($0.06)	$0.01	$0.04	$0.04	$0.08
Weighted Average Diluted Shares Outstanding	117.02M	117.48M	117.36M	115.03M	112.35M	117.36M	112.03M	119.26M	117.76M	112.38M	113.19M
Weighted Average Basic & Diluted Shares Outstanding	113.10M	117.05M	116.53M	116.33M	116.54M	111.91M	112.19M	111.91M	111.36M	111.07M	105.44M

This table details how cash moves in and out of Harmonic's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	18	-5.32	-44	35	5.59	27	8.00	1.34	-70	53	-17
Net Cash From Operating Activities	62	7.06	5.48	41	39	31	12	3.06	0.44	6.35	47
Net Cash From Continuing Operating Activities	62	7.06	5.48	41	39	31	12	3.06	0.44	6.35	47
Net Income / (Loss) Continuing Operations	39	84	28	13	-29	-5.92	-21	-83	-72	-16	-46
Consolidated Net Income / (Loss)	39	84	28	13	-29	-5.92	-21	-83	-72	-16	-46
Depreciation Expense	12	12	12	13	12	11	13	15	19	13	16
Non-Cash Adjustments To Reconcile Net Income	51	36	24	28	31	34	21	32	25	21	23
Changes in Operating Assets and Liabilities, net	-41	-125	-59	-20	15	-23	-15	25	8.95	-19	33
Net Cash From Investing Activities	-9.19	-8.48	-1.29	-13	-32	-10	-6.94	-4.50	-70	-10	28
Net Cash From Continuing Investing Activities	-9.19	-8.48	-1.29	-13	-32	-10	-6.94	-4.50	-70	-10	28
Purchase of Property, Plant & Equipment	-9.19	-8.48	-9.25	-13	-32	-10	-7.04	-11	-15	-14	-10
Purchase of Investments	0.00	-6.31	0.00	0.00	-	-	-	-	-	-25	-36
Sale and/or Maturity of Investments	0.00	6.31	7.96	0.00	0.00	-	0.10	6.90	20	30	74
Net Cash From Financing Activities	-33	-4.99	-43	7.94	-2.11	6.31	2.65	0.90	-0.15	58	-92
Net Cash From Continuing Financing Activities	-33	-4.99	-43	7.94	-2.11	6.31	2.65	0.90	-0.15	58	-92
Repayment of Debt	-121	-5.89	-42	-6.17	-15	-121	-7.13	-7.41	-8.92	-3.53	0.00
Repurchase of Common Equity	-30	0.00	-5.13	0.00	0.00	-1.49	-0.23	-2.76	-1.64	-76	-97
Issuance of Debt	119	3.84	3.50	3.86	9.40	120	5.07	6.34	5.97	128	0.00
Issuance of Common Equity	6.63	6.56	7.09	12	5.47	8.41	4.95	4.72	4.44	9.22	4.74
Other Financing Activities, net	-7.51	-9.49	-6.30	-2.06	-1.66	-	-	-	-	-	0.02
Other Net Changes in Cash	-1.94	-	-	-1.20	0.74	-0.20	-	1.88	-	-	-
Cash Interest Paid	6.28	1.63	3.80	4.10	4.22	4.26	5.27	5.52	5.28	-	-
Cash Income Taxes Paid	27	18	9.04	2.53	-0.02	1.14	2.03	2.14	-0.05	0.95	1.93

This table details how cash moves in and out of Harmonic's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/28/2025	12/31/2024	9/27/2024	6/28/2024	3/29/2024	12/31/2023	9/29/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	47	43	9.74	-36	0.04	8.65	4.59	-20	1.29	-16	-17
Net Cash From Operating Activities	84	49	8.72	-22	27	6.27	11	-17	6.27	19	-8.22
Net Cash From Continuing Operating Activities	84	49	8.72	-22	27	6.27	11	-17	6.27	19	-8.22
Net Income / (Loss) Continuing Operations	5.94	38	22	-13	-8.09	84	-6.50	1.56	5.09	6.13	8.74
Consolidated Net Income / (Loss)	5.94	38	22	-13	-8.09	84	-6.50	1.56	5.09	6.13	8.74
Depreciation Expense	2.72	2.97	2.86	3.23	3.09	3.08	3.09	3.06	3.03	3.04	3.10
Non-Cash Adjustments To Reconcile Net Income	11	10	14	21	6.57	9.75	8.57	7.12	11	5.85	4.87
Changes in Operating Assets and Liabilities, net	64	-2.61	-30	-34	25	-90	5.88	-28	-13	6.53	-27
Net Cash From Investing Activities	-1.87	-2.35	-2.98	-1.95	-1.91	3.58	-8.22	-1.50	-2.33	-1.86	-1.89
Net Cash From Continuing Investing Activities	-1.87	-2.35	-2.98	-1.95	-1.91	3.58	-8.22	-1.50	-2.33	-1.86	-1.89
Purchase of Property, Plant & Equipment	-1.87	-2.35	-2.98	-1.95	-1.91	-2.73	-1.92	-1.50	-2.33	-1.86	-1.89
Net Cash From Financing Activities	-36	-1.29	2.94	-11	-24	-2.01	2.47	-2.03	-3.42	-38	-2.14
Net Cash From Continuing Financing Activities	-36	-1.29	2.94	-11	-24	-2.01	2.47	-2.03	-3.42	-38	-2.14
Repayment of Debt	-0.50	-0.65	-3.46	-117	-0.33	-1.17	-	-4.57	-0.15	-38	-0.09
Repurchase of Common Equity	-36	-	-	-8.37	-22	-	-	-	0.00	-	-0.12
Issuance of Common Equity	3.06	-	3.09	-	3.54	0.01	3.47	-0.00	3.09	0.96	-0.00
Other Financing Activities, net	-2.55	-0.64	-0.63	-0.84	-5.41	-0.85	-1.00	-1.29	-6.35	-1.29	-1.93
Effect of Exchange Rate Changes	1.59	-	-	-	-1.00	0.81	-0.70	-	-	4.95	-
Cash Interest Paid	1.69	1.92	2.47	-	-	-0.30	0.91	-	-	-	-
Cash Income Taxes Paid	1.14	14	1.49	-	-	12	1.37	-	-	-	-

This table presents Harmonic's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	797	768	710	694	592	587	511	508	554	525	481
Total Current Assets	366	331	345	323	238	251	197	172	217	286	233
Cash & Equivalents	101	84	90	133	99	93	66	57	56	126	73
Restricted Cash	0.33	0.00	-	-	-	-	-	-	-	-	-
Accounts Receivable	178	142	108	89	66	89	82	70	87	70	74
Inventories, net	64	84	121	71	35	29	26	26	41	39	33
Prepaid Expenses	22	21	26	30	38	41	23	19	26	25	18
Plant, Property, & Equipment, net	27	37	40	43	43	23	22	29	32	27	27
Total Noncurrent Assets	404	401	325	328	310	313	292	307	305	212	221
Goodwill	237	239	238	240	244	240	241	243	237	198	198
Noncurrent Deferred & Refundable Income Taxes	121	105	12	-	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	46	57	75	88	67	69	38	43	39	9.94	12
Total Liabilities & Shareholders' Equity	797	768	710	694	592	587	511	508	554	525	481
Total Liabilities	331	331	386	397	333	332	283	290	283	197	109
Total Current Liabilities	168	272	322	224	147	192	136	142	145	85	90
Short-Term Debt	7.14	120	119	42	12	50	7.18	7.61	7.28	0.00	-
Accounts Payable	35	39	67	64	24	41	34	33	29	19	15
Current Deferred Revenue	47	46	62	57	54	37	42	52	52	34	39
Other Current Liabilities	78	68	73	61	58	64	-	-	-	-	-
Total Noncurrent Liabilities	164	59	63	172	186	141	146	148	139	112	19
Long-Term Debt	121	10	11	112	140	99	127	124	117	98	0.00
Other Noncurrent Operating Liabilities	43	48	52	60	46	41	18	23	18	9.73	11
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	465	437	325	296	258	252	228	218	271	328	372
Total Preferred & Common Equity	465	437	325	296	258	252	228	218	271	328	372
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	465	437	325	296	258	252	228	218	271	328	372
Common Stock	2,433	2,405	2,381	2,387	2,354	2,327	2,297	2,273	2,254	2,236	2,262
Retained Earnings	-1,953	-1,963	-2,047	-2,088	-2,101	-2,072	-2,067	-2,058	-1,976	-1,904	-1,888
Accumulated Other Comprehensive Income / (Loss)	-14	-5.71	-9.69	-3.27	5.86	-3.07	-1.22	3.38	-7.27	-4.42	-1.98

This table presents Harmonic's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/28/2025	9/27/2024	6/28/2024	3/29/2024	9/29/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	774	760	714	741	674	690	704	698
Total Current Assets	341	336	285	301	329	332	338	337
Cash & Equivalents	149	58	46	84	76	71	91	105
Restricted Cash	0.33	0.33	2.83	-	-	-	-	-
Accounts Receivable	99	174	120	106	110	119	88	106
Inventories, net	62	74	84	87	104	114	132	99
Prepaid Expenses	31	30	32	24	33	28	27	27
Plant, Property, & Equipment, net	27	28	30	35	37	38	39	40
Total Noncurrent Assets	406	395	400	405	308	321	327	321
Goodwill	238	240	238	238	237	239	238	234
Noncurrent Deferred & Refundable Income Taxes	120	107	113	108	-	-	-	-
Other Noncurrent Operating Assets	48	48	49	58	71	83	88	87
Total Liabilities & Shareholders' Equity	774	760	714	741	674	690	704	698
Total Liabilities	328	331	321	332	333	348	368	397
Total Current Liabilities	165	162	152	275	275	288	306	222
Short-Term Debt	7.55	7.23	9.29	120	119	119	119	42
Accounts Payable	27	42	30	44	47	37	55	61
Current Deferred Revenue	51	51	53	52	56	66	66	58
Other Current Liabilities	79	61	59	60	52	65	66	61
Total Noncurrent Liabilities	162	169	169	57	58	60	62	175
Long-Term Debt	120	122	119	10	9.99	11	11	124
Other Noncurrent Operating Liabilities	42	47	50	46	48	49	51	51
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	446	429	393	409	341	343	336	301
Total Preferred & Common Equity	446	429	393	409	341	343	336	301
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	446	429	393	409	341	343	336	301
Common Stock	2,442	2,424	2,416	2,410	2,399	2,390	2,385	2,376
Retained Earnings	-1,984	-1,992	-2,013	-1,992	-2,046	-2,040	-2,041	-2,053
Accumulated Other Comprehensive Income / (Loss)	-12	-3.89	-10	-8.71	-12	-6.96	-7.66	-22

This table displays calculated financial ratios and metrics derived from Harmonic's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.65%	-2.73%	23.23%	33.87%	-5.97%	-0.17%	12.65%	-11.74%	7.66%	-13.04%	-6.14%
EBITDA Growth	127.03%	-44.82%	59.01%	312.54%	-74.62%	69.84%	148.90%	-57.09%	-522.77%	-55.30%	-26.93%
EBIT Growth	198.85%	-55.91%	154.03%	246.08%	-224.15%	293.80%	92.41%	-8.99%	-406.93%	39.66%	6.18%
NOPAT Growth	-56.07%	237.39%	2.62%	422.48%	-195.15%	361.09%	92.93%	-5.73%	-417.73%	39.98%	6.31%
Net Income Growth	-53.31%	198.04%	112.63%	145.28%	-394.11%	71.84%	74.64%	-14.72%	-361.75%	66.14%	-224.90%
EPS Growth	-54.17%	188.00%	108.33%	140.00%	-328.57%	72.00%	75.49%	-9.68%	-416.67%	64.00%	-247.06%
Operating Cash Flow Growth	777.14%	28.91%	-86.65%	4.73%	25.14%	154.76%	300.91%	599.54%	-93.10%	-86.59%	-11.89%
Free Cash Flow Firm Growth	264.80%	-10.15%	-185.73%	352.74%	-76.31%	33.45%	26.47%	90.46%	-569.60%	-138.02%	231.48%
Invested Capital Growth	1.76%	32.37%	15.04%	1.96%	0.00%	4.75%	1.34%	-11.88%	21.51%	2.52%	-17.51%
Revenue Q/Q Growth	8.83%	0.46%	1.38%	5.03%	2.53%	2.16%	3.24%	-3.27%	6.98%	-5.34%	-2.77%
EBITDA Q/Q Growth	173.51%	-16.71%	-2.43%	-14.66%	474.22%	-2.18%	250.91%	6.42%	-23.89%	-29.47%	-28.31%
EBIT Q/Q Growth	306.60%	-23.96%	2.25%	-7.22%	42.80%	-6.77%	74.22%	6.44%	-16.87%	-14.71%	-4.12%
NOPAT Q/Q Growth	-73.08%	1,269.43%	-35.19%	96.95%	44.72%	-4.52%	75.47%	10.30%	-17.26%	-47.99%	-5.70%
Net Income Q/Q Growth	-53.83%	1,236.63%	-32.75%	93.15%	21.24%	27.44%	41.91%	-1.72%	-4.70%	-17.61%	-5.70%
EPS Q/Q Growth	-55.41%	2,300.00%	-37.50%	50.00%	21.05%	36.36%	40.48%	-2.00%	-3.33%	-20.00%	-2.04%
Operating Cash Flow Q/Q Growth	215.05%	-64.96%	184.07%	-45.48%	41.20%	303.39%	-16.44%	-56.88%	102.95%	-77.65%	2.65%
Free Cash Flow Firm Q/Q Growth	-27.39%	-4.04%	-6.76%	-38.86%	40.61%	70.75%	17.40%	-297.20%	12.74%	-448.24%	6.66%
Invested Capital Q/Q Growth	-1.71%	24.35%	0.99%	6.03%	-3.05%	-3.38%	0.50%	-2.57%	-5.94%	0.50%	-5.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	53.91%	51.41%	50.54%	51.22%	51.47%	55.36%	51.84%	47.40%	49.46%	53.77%	48.98%
EBITDA Margin	11.40%	5.61%	9.89%	7.66%	2.49%	9.21%	5.41%	-12.47%	-7.01%	1.78%	3.47%
Operating Margin	9.30%	3.65%	7.28%	3.71%	-3.29%	3.25%	-1.24%	-19.78%	-16.52%	-3.43%	-4.98%
EBIT Margin	9.62%	3.59%	7.92%	3.84%	-3.52%	2.67%	-1.37%	-20.40%	-16.52%	-3.51%	-5.06%
Profit (Net Income) Margin	5.78%	13.82%	4.51%	2.61%	-7.73%	-1.47%	-5.21%	-23.16%	-17.82%	-4.15%	-10.67%
Tax Burden Percent	67.69%	438.82%	63.35%	149.41%	111.65%	89.81%	124.11%	97.93%	89.91%	97.47%	212.20%
Interest Burden Percent	88.77%	87.65%	89.82%	45.50%	196.44%	-61.36%	305.53%	115.88%	119.92%	121.45%	99.40%
Effective Tax Rate	32.31%	-338.82%	36.65%	-49.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	8.77%	22.95%	8.46%	8.95%	-2.80%	3.01%	-1.19%	-15.86%	-15.48%	-3.35%	-5.11%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.99%	-7.86%	6.30%	-31.71%	-40.56%	-21.15%	-25.64%	-64.69%	-702.41%	4.93%	17.50%
Return on Net Nonoperating Assets (RNNOA)	-0.08%	-0.89%	0.61%	-4.17%	-8.61%	-5.47%	-8.23%	-18.07%	-8.67%	-1.12%	-5.57%
Return on Equity (ROE)	8.69%	22.06%	9.07%	4.78%	-11.41%	-2.45%	-9.42%	-33.93%	-24.15%	-4.47%	-10.68%
Cash Return on Invested Capital (CROIC)	7.03%	-4.90%	-5.53%	7.01%	-2.80%	-1.63%	-2.52%	-3.23%	-34.90%	-5.84%	14.07%
Operating Return on Assets (OROA)	8.34%	2.95%	7.06%	3.03%	-2.26%	1.96%	-1.09%	-13.76%	-12.43%	-2.63%	-4.04%
Return on Assets (ROA)	5.01%	11.36%	4.02%	2.06%	-4.97%	-1.08%	-4.13%	-15.62%	-13.40%	-3.12%	-8.51%
Return on Common Equity (ROCE)	8.69%	22.06%	9.06%	4.77%	-11.35%	-2.44%	-9.42%	-33.93%	-24.15%	-4.47%	-10.68%
Return on Equity Simple (ROE_SIMPLE)	8.43%	19.23%	8.68%	4.48%	-11.33%	-2.35%	-9.22%	-37.99%	-26.72%	-4.77%	-12.44%
Net Operating Profit after Tax (NOPAT)	43	97	29	28	-8.71	9.16	-3.51	-50	-47	-9.06	-15
NOPAT Margin	6.30%	16.00%	4.61%	5.54%	-2.30%	2.27%	-0.87%	-13.85%	-11.56%	-2.40%	-3.48%
Net Nonoperating Expense Percent (NNEP)	9.76%	30.81%	2.16%	40.66%	37.76%	24.16%	24.45%	48.83%	686.93%	-8.28%	-22.62%
Return On Investment Capital (ROIC_SIMPLE)	7.21%	17.15%	6.35%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	46.09%	48.59%	49.46%	48.78%	48.53%	44.64%	48.16%	52.60%	50.54%	46.23%	51.02%
SG&A Expenses to Revenue	22.56%	26.86%	23.48%	27.23%	31.57%	29.55%	29.48%	38.04%	35.57%	32.08%	30.29%
R&D to Revenue	17.82%	20.77%	19.25%	20.16%	21.78%	21.00%	22.09%	26.79%	24.24%	23.22%	21.46%
Operating Expenses to Revenue	44.61%	47.77%	43.26%	47.51%	54.76%	52.11%	53.08%	67.19%	65.97%	57.20%	53.95%
Earnings before Interest and Taxes (EBIT)	65	22	50	19	-13	11	-5.55	-73	-67	-13	-22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	77	34	62	39	9.42	37	22	-45	-28	6.73	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.31	3.35	4.26	4.08	2.80	2.79	1.79	1.57	1.45	1.08	1.66
Price to Tangible Book Value (P/TBV)	6.75	7.40	15.92	21.66	49.38	85.88	0.00	0.00	94.83	2.81	3.78
Price to Revenue (P/Rev)	2.27	2.41	2.21	2.38	1.91	1.75	1.01	0.96	0.97	0.94	1.42
Price to Earnings (P/E)	39.31	17.42	49.01	91.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.54%	5.74%	2.04%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.19	3.12	3.90	3.87	2.49	2.45	1.61	1.42	1.36	1.10	1.92
Enterprise Value to Revenue (EV/Rev)	2.31	2.48	2.27	2.42	2.05	1.89	1.18	1.17	1.12	0.80	1.18
Enterprise Value to EBITDA (EV/EBITDA)	20.26	44.26	23.01	31.59	82.29	20.57	21.87	0.00	0.00	44.57	34.04
Enterprise Value to EBIT (EV/EBIT)	24.02	69.10	28.70	62.96	0.00	71.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	36.68	15.51	49.30	43.68	0.00	83.34	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	25.32	213.77	259.59	29.92	19.79	24.39	38.90	136.25	1,035.69	47.22	10.82
Enterprise Value to Free Cash Flow (EV/FCFF)	45.77	0.00	0.00	55.76	0.00	0.00	0.00	0.00	0.00	0.00	12.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.27	0.30	0.40	0.52	0.59	0.59	0.59	0.60	0.46	0.30	0.00
Long-Term Debt to Equity	0.26	0.02	0.03	0.38	0.54	0.39	0.56	0.57	0.43	0.30	0.00
Financial Leverage	0.08	0.11	0.10	0.13	0.21	0.26	0.32	0.28	0.01	-0.23	-0.32
Leverage Ratio	1.73	1.94	2.26	2.32	2.30	2.27	2.28	2.17	1.80	1.44	1.25
Compound Leverage Factor	1.54	1.70	2.03	1.05	4.51	-1.39	6.97	2.52	2.16	1.74	1.25
Debt to Total Capital	21.56%	22.97%	28.59%	34.12%	36.95%	36.93%	37.11%	37.62%	31.50%	23.05%	0.00%
Short-Term Debt to Total Capital	1.20%	21.12%	26.13%	9.28%	2.87%	12.40%	1.98%	2.17%	1.84%	0.00%	0.00%
Long-Term Debt to Total Capital	20.36%	1.85%	2.46%	24.84%	34.07%	24.53%	35.13%	35.45%	29.66%	23.05%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.20%	0.00%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	78.44%	77.03%	71.41%	65.68%	63.05%	62.47%	62.89%	62.38%	68.50%	76.95%	100.00%
Debt to EBITDA	1.65	3.82	2.10	3.96	16.07	4.02	6.16	-2.95	-4.37	14.61	0.00
Net Debt to EBITDA	0.34	1.35	0.65	0.52	5.60	1.51	3.14	-1.67	-2.18	-8.10	0.00
Long-Term Debt to EBITDA	1.56	0.31	0.18	2.88	14.82	2.67	5.83	-2.78	-4.12	14.61	0.00
Debt to NOPAT	2.99	1.34	4.50	5.47	-17.37	16.29	-38.39	-2.65	-2.65	-10.85	0.00
Net Debt to NOPAT	0.61	0.47	1.40	0.72	-6.05	6.13	-19.58	-1.51	-1.32	6.01	0.00
Long-Term Debt to NOPAT	2.83	0.11	0.39	3.98	-16.02	10.83	-36.35	-2.50	-2.50	-10.85	0.00
Altman Z-Score	0.78	0.05	-0.74	-1.40	-2.92	-2.80	-3.90	-4.66	-3.68	-2.90	-0.99
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.14%	0.16%	0.47%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.18	1.21	1.07	1.44	1.62	1.31	1.44	1.21	1.50	3.37	2.59
Quick Ratio	1.67	0.83	0.61	0.99	1.12	0.95	1.08	0.89	1.03	2.62	1.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	34	-21	-19	22	-8.71	-4.94	-7.42	-10	-106	-16	42
Operating Cash Flow to CapEx	674.04%	83.29%	59.20%	316.12%	121.61%	303.01%	174.39%	26.88%	2.90%	44.24%	470.63%
Free Cash Flow to Firm to Interest Expense	4.68	-7.71	-3.74	2.07	-0.68	-0.28	-0.65	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	8.45	2.62	1.09	3.86	3.04	1.80	1.08	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	7.20	-0.53	-0.75	2.64	0.54	1.21	0.46	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.87	0.82	0.89	0.79	0.64	0.73	0.79	0.67	0.75	0.75	0.80
Accounts Receivable Turnover	4.25	4.86	6.35	6.55	4.90	4.73	5.32	4.58	5.19	5.25	5.81
Inventory Turnover	4.23	2.88	3.22	4.66	5.74	6.58	7.53	5.61	5.13	4.87	6.35
Fixed Asset Turnover	21.38	15.89	15.14	11.81	11.47	17.81	15.65	11.66	13.72	13.90	13.95
Accounts Payable Turnover	8.48	5.57	4.69	5.62	5.70	4.81	5.81	6.08	8.50	10.05	11.74
Days Sales Outstanding (DSO)	85.92	75.04	57.52	55.69	74.54	77.14	68.58	79.78	70.26	69.54	62.80
Days Inventory Outstanding (DIO)	86.34	126.62	113.46	78.36	63.61	55.48	48.47	65.06	71.17	74.93	57.48
Days Payable Outstanding (DPO)	43.06	65.51	77.87	64.89	64.01	75.81	62.81	60.05	42.93	36.31	31.10
Cash Conversion Cycle (CCC)	129.20	136.16	93.10	69.15	74.14	56.82	54.23	84.78	98.51	108.15	89.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	491	483	365	317	311	311	297	293	333	274	267
Invested Capital Turnover	1.39	1.43	1.83	1.61	1.22	1.33	1.37	1.15	1.34	1.39	1.47
Increase / (Decrease) in Invested Capital	8.48	118	48	6.09	-0.01	14	3.92	-40	59	6.74	-57
Enterprise Value (EV)	1,568	1,509	1,422	1,227	775	763	478	417	454	300	512
Market Capitalization	1,542	1,463	1,381	1,206	722	705	409	343	392	354	617
Book Value per Share	$3.99	$3.89	$3.08	$2.89	$2.64	$2.79	$2.63	$2.68	$3.45	$3.77	$4.22
Tangible Book Value per Share	$1.96	$1.76	$0.82	$0.54	$0.15	$0.09	($0.29)	($0.56)	$0.05	$1.45	$1.85
Total Capital	593	567	454	451	410	404	363	350	395	426	372
Total Debt	128	130	130	154	151	149	135	132	124	98	0.00
Total Long-Term Debt	121	10	11	112	140	99	127	124	117	98	0.00
Net Debt	26	46	40	20	53	56	69	75	62	-54	-105
Capital Expenditures (CapEx)	9.19	8.48	9.25	13	32	10	7.04	11	15	14	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	104	94	52	7.05	3.87	16	1.48	-20	17	48	38
Debt-free Net Working Capital (DFNWC)	206	178	142	140	103	110	67	37	79	201	143
Net Working Capital (NWC)	199	58	23	99	91	59	60	30	72	201	143
Net Nonoperating Expense (NNE)	3.52	13	0.66	15	21	15	18	33	25	6.60	31
Net Nonoperating Obligations (NNO)	26	46	40	20	53	56	69	75	62	-54	-105
Total Depreciation and Amortization (D&A)	12	12	12	19	23	26	27	28	39	20	37
Debt-free, Cash-free Net Working Capital to Revenue	15.30%	15.44%	8.38%	1.39%	1.02%	4.09%	0.37%	-5.51%	4.10%	12.85%	8.74%
Debt-free Net Working Capital to Revenue	30.30%	29.30%	22.72%	27.70%	27.06%	27.19%	16.72%	10.41%	19.51%	53.38%	32.93%
Net Working Capital to Revenue	29.25%	9.60%	3.72%	19.46%	23.95%	14.76%	14.94%	8.29%	17.72%	53.38%	32.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.34	$0.75	$0.00	$0.13	($0.30)	($0.07)	($0.25)	($1.02)	($0.93)	($0.18)	($0.50)
Adjusted Weighted Average Basic Shares Outstanding	115.12M	111.65M	0.00	101.48M	100.85M	95.89M	88.68M	84.10M	79.77M	87.51M	92.51M
Adjusted Diluted Earnings per Share	$0.33	$0.72	$0.00	$0.12	($0.30)	($0.07)	($0.25)	($1.02)	($0.93)	($0.18)	($0.50)
Adjusted Weighted Average Diluted Shares Outstanding	117.48M	117.36M	0.00	106.17M	100.85M	95.89M	88.68M	84.10M	79.77M	87.51M	92.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.30)	($0.07)	($0.25)	($1.02)	($0.93)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.05M	111.91M	0.00	103.74M	96.97M	89.58M	85.62M	80.97M	77.71M	77.30M	88.64M
Normalized Net Operating Profit after Tax (NOPAT)	62	16	31	13	-7.09	11	-1.47	-46	-37	-8.10	-13
Normalized NOPAT Margin	9.16%	2.65%	4.95%	2.61%	-1.87%	2.82%	-0.36%	-12.81%	-9.04%	-2.15%	-3.04%
Pre Tax Income Margin	8.54%	3.15%	7.12%	1.75%	-6.92%	-1.64%	-4.20%	-23.64%	-19.81%	-4.26%	-5.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.91	8.10	9.83	1.83	-1.04	0.62	-0.49	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	5.83	36.09	5.72	2.64	-0.68	0.53	-0.31	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	7.65	4.96	7.99	0.61	-3.54	0.02	-1.10	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	4.58	32.94	3.89	1.42	-3.18	-0.07	-0.93	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	76.62%	0.00%	18.21%	0.00%	0.00%	-25.19%	-1.09%	-3.32%	-2.27%	-487.91%	-209.23%

This table displays calculated financial ratios and metrics derived from Harmonic's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/28/2025	12/31/2024	9/27/2024	6/28/2024	3/29/2024	12/31/2023	9/29/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.07%	32.96%	53.89%	-11.04%	-22.57%	1.68%	-18.32%	-0.94%	6.92%	5.47%	23.29%
EBITDA Growth	288.34%	394.03%	764.32%	-191.46%	-148.36%	-35.44%	-132.31%	-42.07%	116.27%	3.51%	53.57%
EBIT Growth	201.43%	524.39%	481.26%	-252.77%	-190.15%	-42.31%	-173.06%	-49.24%	319.05%	7.19%	119.19%
NOPAT Growth	206.37%	-60.80%	543.49%	-737.49%	-219.23%	1,291.22%	-160.45%	-86.23%	268.03%	-72.69%	199.69%
Net Income Growth	173.43%	-54.53%	434.38%	-905.92%	-258.83%	1,267.49%	-174.31%	-89.52%	433.09%	-69.12%	471.24%
EPS Growth	171.43%	-56.16%	416.67%	-1,200.00%	-275.00%	1,725.00%	-175.00%	-92.86%	500.00%	-78.95%	700.00%
Operating Cash Flow Growth	211.73%	674.39%	-21.04%	-34.09%	327.75%	-67.61%	234.37%	-175.70%	122.81%	162.89%	-154.01%
Free Cash Flow Firm Growth	142.92%	203.79%	-156.43%	-41.20%	-404.68%	35.70%	36.59%	-130.79%	60.41%	-328.04%	-308.33%
Invested Capital Growth	-6.61%	1.76%	28.74%	17.65%	21.30%	32.37%	7.50%	17.45%	6.45%	15.04%	20.79%
Revenue Q/Q Growth	-40.07%	13.49%	41.10%	13.67%	-26.95%	31.36%	-18.44%	-1.07%	-4.07%	5.52%	-1.08%
EBITDA Q/Q Growth	-79.41%	79.21%	391.49%	-75.11%	-153.05%	340.98%	-140.13%	-7.42%	-30.45%	20.61%	-28.06%
EBIT Q/Q Growth	-83.01%	86.06%	309.79%	-52.94%	-204.59%	213.61%	-184.06%	-9.75%	-33.06%	43.86%	-41.59%
NOPAT Q/Q Growth	-80.26%	34.51%	344.11%	-64.08%	-107.28%	1,621.76%	-450.89%	-69.31%	-15.10%	-33.88%	-20.05%
Net Income Q/Q Growth	-84.42%	75.52%	273.30%	-54.93%	-109.65%	1,390.85%	-517.68%	-69.47%	-16.93%	-29.85%	-41.11%
EPS Q/Q Growth	-84.38%	68.42%	272.73%	-57.14%	-109.59%	1,316.67%	-700.00%	-75.00%	0.00%	-50.00%	-42.86%
Operating Cash Flow Q/Q Growth	72.27%	456.55%	139.36%	-182.60%	327.96%	-43.25%	166.84%	-363.51%	-67.60%	335.44%	-137.66%
Free Cash Flow Firm Q/Q Growth	35.40%	132.32%	-3.75%	5.47%	-227.42%	20.14%	42.87%	-237.85%	58.29%	21.24%	-107.94%
Invested Capital Q/Q Growth	-13.51%	-1.71%	5.81%	3.83%	-5.77%	24.35%	-3.30%	7.05%	2.83%	0.99%	5.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.02%	56.11%	53.50%	52.95%	51.68%	49.00%	48.49%	54.46%	53.32%	52.15%	50.47%
EBITDA Margin	9.52%	27.71%	17.55%	-8.49%	-5.51%	7.46%	-4.07%	8.26%	8.83%	11.74%	10.27%
Operating Margin	7.61%	23.80%	18.10%	-11.27%	-7.80%	5.77%	-6.76%	6.39%	7.09%	10.03%	7.34%
EBIT Margin	7.48%	26.37%	16.09%	-10.82%	-8.04%	5.62%	-6.49%	6.30%	6.91%	9.90%	7.26%
Profit (Net Income) Margin	4.46%	17.16%	11.09%	-9.03%	-6.63%	50.18%	-5.11%	1.00%	3.23%	3.73%	5.61%
Tax Burden Percent	70.04%	67.95%	75.39%	76.25%	76.76%	951.33%	73.15%	17.23%	50.02%	39.98%	87.21%
Interest Burden Percent	85.19%	95.75%	91.47%	109.49%	107.37%	93.92%	107.49%	91.86%	93.52%	94.29%	88.64%
Effective Tax Rate	29.96%	32.05%	24.61%	0.00%	0.00%	-851.33%	0.00%	82.77%	49.98%	60.02%	12.79%
Return on Invested Capital (ROIC)	8.35%	22.53%	19.16%	-10.02%	-7.53%	78.66%	-7.64%	1.88%	6.19%	7.35%	11.94%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.97%	28.62%	10.74%	-12.31%	-10.87%	60.59%	-8.52%	1.57%	5.26%	5.84%	9.06%
Return on Net Nonoperating Assets (RNNOA)	-0.03%	2.29%	1.65%	-2.32%	-1.24%	6.87%	-1.44%	0.25%	0.91%	0.57%	1.34%
Return on Equity (ROE)	8.32%	24.82%	20.81%	-12.33%	-8.78%	85.53%	-9.08%	2.13%	7.10%	7.92%	13.28%
Cash Return on Invested Capital (CROIC)	19.85%	7.03%	10.62%	-20.08%	-19.00%	-4.90%	-5.33%	-9.68%	3.43%	-5.53%	-5.35%
Operating Return on Assets (OROA)	6.81%	22.88%	14.00%	-8.56%	-6.37%	4.62%	-5.73%	5.75%	6.25%	8.81%	6.67%
Return on Assets (ROA)	4.06%	14.89%	9.65%	-7.14%	-5.25%	41.27%	-4.51%	0.91%	2.92%	3.32%	5.16%
Return on Common Equity (ROCE)	8.32%	24.82%	20.81%	-12.33%	-8.78%	85.53%	-9.08%	2.13%	7.10%	7.91%	13.26%
Return on Equity Simple (ROE_SIMPLE)	11.94%	0.00%	19.80%	14.44%	17.31%	0.00%	1.84%	6.28%	10.36%	0.00%	13.94%
Net Operating Profit after Tax (NOPAT)	7.09	36	27	-11	-6.67	92	-6.02	1.72	5.59	6.59	9.96
NOPAT Margin	5.33%	16.17%	13.64%	-7.89%	-5.46%	54.85%	-4.73%	1.10%	3.55%	4.01%	6.40%
Net Nonoperating Expense Percent (NNEP)	9.32%	-6.09%	8.42%	2.30%	3.33%	18.07%	0.87%	0.31%	0.93%	1.50%	2.88%
Return On Investment Capital (ROIC_SIMPLE)	1.24%	6.06%	-	-	-	16.16%	-	-	-	1.45%	-
Cost of Revenue to Revenue	40.98%	43.89%	46.50%	47.05%	48.32%	51.00%	51.51%	45.54%	46.68%	47.85%	49.53%
SG&A Expenses to Revenue	27.86%	17.37%	18.31%	28.70%	31.84%	25.13%	30.85%	27.43%	24.92%	22.47%	23.36%
R&D to Revenue	23.55%	14.14%	15.36%	20.75%	25.16%	18.11%	23.83%	20.65%	21.26%	18.92%	19.56%
Operating Expenses to Revenue	51.41%	32.31%	35.41%	64.21%	59.48%	43.23%	55.26%	48.07%	46.23%	42.12%	43.14%
Earnings before Interest and Taxes (EBIT)	9.96	59	31	-15	-9.82	9.38	-8.26	9.83	11	16	11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	62	34	-12	-6.73	12	-5.17	13	14	19	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.55	3.31	3.93	3.49	3.69	3.35	3.14	5.25	4.83	4.26	4.57
Price to Tangible Book Value (P/TBV)	5.47	6.75	8.90	8.85	8.82	7.40	10.32	17.30	16.65	15.92	20.57
Price to Revenue (P/Rev)	1.65	2.27	2.70	2.47	2.63	2.41	1.77	2.84	2.55	2.21	2.23
Price to Earnings (P/E)	21.35	39.31	19.84	24.18	21.29	17.42	170.21	83.68	46.56	49.01	32.77
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.68%	2.54%	5.04%	4.14%	4.70%	5.74%	0.59%	1.20%	2.15%	2.04%	3.05%
Enterprise Value to Invested Capital (EV/IC)	2.62	3.19	3.51	3.07	3.41	3.12	2.88	4.63	4.42	3.90	3.97
Enterprise Value to Revenue (EV/Rev)	1.62	2.31	2.82	2.61	2.71	2.48	1.85	2.93	2.61	2.27	2.33
Enterprise Value to EBITDA (EV/EBITDA)	11.52	20.26	62.07	0.00	115.56	44.26	27.29	30.73	23.72	23.01	22.64
Enterprise Value to EBIT (EV/EBIT)	13.12	24.02	109.44	0.00	1,368.92	69.10	38.90	38.51	28.71	28.70	29.60
Enterprise Value to NOPAT (EV/NOPAT)	19.47	36.68	11.06	0.00	1,514.05	15.51	157.24	78.52	47.11	49.30	32.22
Enterprise Value to Operating Cash Flow (EV/OCF)	9.40	25.32	89.38	66.04	56.28	213.77	55.46	2,112.96	42.31	259.59	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	12.77	45.77	37.24	0.00	0.00	0.00	0.00	0.00	132.90	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.29	0.27	0.30	0.33	0.32	0.30	0.38	0.38	0.39	0.40	0.55
Long-Term Debt to Equity	0.27	0.26	0.29	0.30	0.03	0.02	0.03	0.03	0.03	0.03	0.41
Financial Leverage	0.03	0.08	0.15	0.19	0.11	0.11	0.17	0.16	0.17	0.10	0.15
Leverage Ratio	1.77	1.73	1.86	1.91	1.94	1.94	2.14	2.17	2.26	2.26	2.33
Compound Leverage Factor	1.51	1.66	1.70	2.09	2.08	1.82	2.30	1.99	2.12	2.13	2.07
Debt to Total Capital	22.28%	21.56%	23.19%	24.63%	24.14%	22.97%	27.53%	27.47%	27.95%	28.59%	35.56%
Short-Term Debt to Total Capital	1.32%	1.20%	1.29%	1.78%	22.23%	21.12%	25.41%	25.24%	25.51%	26.13%	9.02%
Long-Term Debt to Total Capital	20.96%	20.36%	21.90%	22.84%	1.90%	1.85%	2.12%	2.23%	2.44%	2.46%	26.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	77.72%	78.44%	76.81%	75.37%	75.86%	77.03%	72.47%	72.53%	72.05%	71.41%	64.44%
Debt to EBITDA	1.32	1.65	4.58	-11.43	9.68	3.82	3.16	2.15	1.86	2.10	2.62
Net Debt to EBITDA	-0.22	0.34	2.51	-7.10	3.41	1.35	1.16	0.97	0.56	0.65	0.96
Long-Term Debt to EBITDA	1.24	1.56	4.32	-10.61	0.76	0.31	0.24	0.17	0.16	0.18	1.96
Debt to NOPAT	2.23	2.99	0.82	-7.60	126.87	1.34	18.22	5.48	3.70	4.50	3.73
Net Debt to NOPAT	-0.37	0.61	0.45	-4.72	44.72	0.47	6.69	2.48	1.12	1.40	1.36
Long-Term Debt to NOPAT	2.10	2.83	0.77	-7.05	10.01	0.11	1.41	0.45	0.32	0.39	2.78
Altman Z-Score	-0.30	0.75	0.62	-0.45	-0.27	0.00	-1.37	0.01	-0.41	-0.89	-0.91
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.06	2.18	2.08	1.87	1.09	1.21	1.20	1.15	1.11	1.07	1.52
Quick Ratio	1.50	1.67	1.43	1.09	0.69	0.83	0.70	0.66	0.59	0.61	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	37	27	-85	-82	-87	-26	-33	-58	-17	-41	-52
Operating Cash Flow to CapEx	4,466.08%	2,068.67%	292.23%	-1,139.02%	1,403.45%	229.90%	576.41%	-1,100.00%	268.98%	1,039.82%	-436.02%
Free Cash Flow to Firm to Interest Expense	25.21	11.01	-31.61	-57.46	-119.73	-46.30	-53.48	-72.44	-24.30	-44.26	-40.66
Operating Cash Flow to Interest Expense	56.72	19.47	3.25	-15.56	37.10	10.98	17.84	-20.65	8.88	20.83	-6.40
Operating Cash Flow Less CapEx to Interest Expense	55.45	18.53	2.14	-16.92	34.45	6.20	14.75	-22.53	5.58	18.83	-7.87
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.91	0.87	0.87	0.79	0.79	0.82	0.88	0.91	0.90	0.89	0.92
Accounts Receivable Turnover	6.75	4.25	4.39	4.64	5.90	4.86	5.61	5.62	6.24	6.35	6.81
Inventory Turnover	4.15	4.23	3.38	2.78	2.57	2.88	2.85	3.06	2.85	3.22	4.09
Fixed Asset Turnover	22.30	21.38	19.08	16.51	15.43	15.89	15.64	16.00	15.58	15.14	14.63
Accounts Payable Turnover	8.67	8.48	6.71	8.19	5.66	5.57	5.35	7.94	5.64	4.69	6.61
Days Sales Outstanding (DSO)	54.08	85.92	83.13	78.64	61.86	75.04	65.12	64.96	58.54	57.52	53.59
Days Inventory Outstanding (DIO)	87.99	86.34	107.86	131.21	141.89	126.62	128.15	119.21	127.97	113.46	89.31
Days Payable Outstanding (DPO)	42.12	43.06	54.42	44.55	64.52	65.51	68.26	45.94	64.70	77.87	55.20
Cash Conversion Cycle (CCC)	99.95	129.20	136.58	165.31	139.23	136.16	125.00	138.23	121.80	93.10	87.71
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	425	491	500	472	455	483	388	402	375	365	361
Invested Capital Turnover	1.57	1.39	1.40	1.27	1.38	1.43	1.61	1.70	1.75	1.83	1.87
Increase / (Decrease) in Invested Capital	-30	8.48	112	71	80	118	27	60	23	48	62
Enterprise Value (EV)	1,115	1,568	1,757	1,451	1,554	1,509	1,117	1,859	1,660	1,422	1,434
Market Capitalization	1,137	1,542	1,686	1,372	1,508	1,463	1,070	1,801	1,621	1,381	1,373
Book Value per Share	$3.81	$3.99	$3.69	$3.37	$3.64	$3.89	$3.05	$3.08	$3.02	$3.08	$2.86
Tangible Book Value per Share	$1.78	$1.96	$1.63	$1.33	$1.52	$1.76	$0.93	$0.93	$0.88	$0.82	$0.64
Total Capital	574	593	558	521	539	567	470	473	466	454	467
Total Debt	128	128	130	128	130	130	129	130	130	130	166
Total Long-Term Debt	120	121	122	119	10	10	9.99	11	11	11	124
Net Debt	-21	26	71	80	46	46	48	59	39	40	61
Capital Expenditures (CapEx)	1.87	2.35	2.98	1.95	1.91	2.73	1.92	1.50	2.33	1.86	1.89
Debt-free, Cash-free Net Working Capital (DFCFNWC)	34	104	123	93	62	94	91	92	60	52	52
Debt-free Net Working Capital (DFNWC)	183	206	182	142	146	178	173	163	151	142	157
Net Working Capital (NWC)	175	199	175	133	26	58	54	44	32	23	115
Net Nonoperating Expense (NNE)	1.15	-2.20	4.99	1.59	1.42	7.80	0.47	0.16	0.50	0.46	1.22
Net Nonoperating Obligations (NNO)	-21	26	71	80	46	46	48	59	39	40	61
Total Depreciation and Amortization (D&A)	2.72	2.97	2.86	3.23	3.09	3.08	3.09	3.06	3.03	3.04	4.70
Debt-free, Cash-free Net Working Capital to Revenue	4.93%	15.30%	19.79%	16.80%	10.76%	15.44%	15.11%	14.53%	9.48%	8.38%	8.36%
Debt-free Net Working Capital to Revenue	26.53%	30.30%	29.17%	25.57%	25.50%	29.30%	28.65%	25.74%	23.79%	22.72%	25.44%
Net Working Capital to Revenue	25.44%	29.25%	28.01%	23.90%	4.54%	9.60%	8.91%	6.92%	5.07%	3.72%	18.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	$0.33	$0.19	($0.11)	($0.07)	$0.75	($0.06)	$0.01	$0.05	$0.06	$0.08
Adjusted Weighted Average Basic Shares Outstanding	116.32M	115.12M	116.40M	115.03M	112.35M	111.65M	112.03M	111.46M	110.79M	105.08M	105.23M
Adjusted Diluted Earnings per Share	$0.05	$0.32	$0.19	($0.11)	($0.07)	$0.73	($0.06)	$0.01	$0.04	$0.04	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	117.02M	117.48M	117.36M	115.03M	112.35M	117.36M	112.03M	119.26M	117.76M	112.38M	113.19M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	113.10M	117.05M	116.53M	116.33M	116.54M	111.91M	112.19M	111.91M	111.36M	111.07M	105.44M
Normalized Net Operating Profit after Tax (NOPAT)	7.09	37	29	3.40	-4.54	6.74	-5.51	6.97	5.63	12	10
Normalized NOPAT Margin	5.33%	16.53%	14.95%	2.45%	-3.72%	4.04%	-4.33%	4.47%	3.57%	7.53%	6.58%
Pre Tax Income Margin	6.37%	25.25%	14.72%	-11.85%	-8.63%	5.27%	-6.98%	5.79%	6.46%	9.33%	6.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.75	23.50	11.72	-10.54	-13.58	16.43	-13.34	12.28	15.42	17.51	8.81
NOPAT to Interest Expense	4.81	14.41	9.94	-7.68	-9.22	160.49	-9.73	2.15	7.92	7.09	7.76
EBIT Less CapEx to Interest Expense	5.48	22.56	10.61	-11.91	-16.22	11.66	-16.44	10.41	12.12	15.50	7.34
NOPAT Less CapEx to Interest Expense	3.54	13.47	8.83	-9.05	-11.87	155.72	-12.82	0.27	4.62	5.09	6.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	83.48%	76.62%	35.38%	52.97%	30.61%	0.00%	0.00%	0.56%	8.60%	18.21%	12.25%

Frequently Asked Questions About Harmonic's Financials

When does Harmonic's fiscal year end?

According to the most recent income statement we have on file, Harmonic's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Harmonic's net income changed over the last 10 years?

Harmonic's net income appears to be on a downward trend, with a most recent value of $39.22 million in 2024, falling from -$46.25 million in 2014. The previous period was $83.99 million in 2023. View Harmonic's forecast to see where analysts expect Harmonic to go next.

What is Harmonic's operating income?

Harmonic's total operating income in 2024 was $63.14 million, based on the following breakdown:

Total Gross Profit: $365.92 million
Total Operating Expenses: $302.79 million

How has Harmonic revenue changed over the last 10 years?

Over the last 10 years, Harmonic's total revenue changed from $433.56 million in 2014 to $678.72 million in 2024, a change of 56.5%.

How much debt does Harmonic have?

Harmonic's total liabilities were at $331.25 million at the end of 2024, a 0.0% decrease from 2023, and a 204.7% increase since 2014.

How much cash does Harmonic have?

In the past 10 years, Harmonic's cash and equivalents has ranged from $55.64 million in 2016 to $133.43 million in 2021, and is currently $101.46 million as of their latest financial filing in 2024.

How has Harmonic's book value per share changed over the last 10 years?

Over the last 10 years, Harmonic's book value per share changed from 4.22 in 2014 to 3.99 in 2024, a change of -5.4%.

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This page (NASDAQ:HLIT) was last updated on 5/22/2025 by MarketBeat.com Staff

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Harmonic (HLIT) Financials

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Harmonic (HLIT) Financials

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