Stocks · Technology · Communication Equipment
Harmonic Inc. HLIT
$11.22 +0.45% Close, Oct 5, 2026 · NASDAQ · Market cap $1.21B
High qualityLow risk
Next earnings report: Nov 2, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $-0.41, down 168.8% year over year.
- Earnings beat analyst estimates in each of the last 9 quarters (average surprise over the last four: +72.5%).
- Revenue over the last four quarters was $495.8M, down 28.1% from a year earlier.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 3%
- EPS growth (TTM, YoY)Bottom 8%
- FCF growth (TTM, YoY)Bottom 10%
- Revenue growth, 3-year CAGRBottom 5%
- Revenue growth accelerationBottom 35%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 40%
- Gross marginBottom 50%
- Operating marginTop 32%
- Accruals (lower is better)Top 17%
- Net debt / EBITDA (lower is better)Top 23%
- Interest coverTop 21%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 26%
- Free-cash-flow yieldTop 38%
- EBITDA / enterprise valueTop 31%
- Sales / enterprise valueTop 31%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 46%
- 6-month returnBottom 48%
- 1-year return vs S&P 500Top 49%
- Distance from 52-week highBottom 39%
- Trend checklist (0–4)Bottom 38%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 11%
- Consecutive EPS beatsTop 23%
- Share of analysts rating BuyBottom 26%
- Upside to consensus price targetTop 29%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 33%
- Maximum drawdown, 3 yearsTop 16%
- Beta vs S&P 500 (lower is better)Bottom 42%
- Net debt / EBITDA (lower is better)Top 23%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -27.5% | -28.1% | ↓ |
| EPS growth (YoY) | -179.2% | -168.8% | ↑ |
| Gross margin | 54.6% | 50.7% | ↓ |
| Operating margin | 15.2% | 11.9% | ↓ |
| FCF margin | 17.1% | 10.9% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | -28.1% | -27.5% | ↓ | Bottom 3% |
| EPS growth (TTM, YoY) | -168.8% | -179.2% | ↑ | Bottom 8% |
| Gross margin | 50.7% | 54.6% | ↓ | Bottom 50% |
| Operating margin | 11.9% | 15.2% | ↓ | Top 32% |
| Net margin | -9.5% | 10.0% | ↓ | — |
| Free-cash-flow margin | 10.9% | 17.1% | ↓ | — |
| Return on invested capital | 6.8% | — | Top 40% | |
| Revenue growth, 3-year CAGR | -16.8% | — | Bottom 5% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -17.3%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 7.5%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +0.0 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -1.56×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 15.7×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 5.32%
- Shareholder yield
- 5.32%
- Share count change, 1 year
- -3.4%
- Share count change, 3-year CAGR
- -2.8%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 3, 2026 (filed Aug 17, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 9
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +72.5%
- Average 2-day reaction, last 8
- +1.1%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $17.00
- Target vs current price
- +51.5%
- Analysts with a rating
- 19
- Share rating Buy or Strong Buy
- 47%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 12, 2026 | +42.6% | +4.8% | +11.2% | +3.1% | — |
| May 11, 2026 | +41.7% | +0.2% | -2.1% | +10.0% | -6.5% |
| Feb 19, 2026 | +40.0% | +1.6% | -2.1% | -11.6% | +26.3% |
| Nov 3, 2025 | +165.7% | -0.3% | -6.4% | -12.1% | -7.9% |
| Jul 28, 2025 | +200.0% | +1.6% | -7.2% | +2.1% | +14.3% |
| Apr 28, 2025 | +120.0% | +1.1% | -2.3% | -2.9% | -1.6% |
| Feb 10, 2025 | +21.6% | -0.1% | -9.6% | -10.5% | -19.9% |
| Oct 28, 2024 | +30.0% | +0.3% | -25.8% | -15.6% | -19.9% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 12, 2026 | $0.24 | $0.17 | +42.6% | $133.5M |
| May 11, 2026 | $0.17 | $0.12 | +41.7% | $121.7M |
| Feb 19, 2026 | $0.14 | $0.10 | +40.0% | $98.2M |
| Nov 3, 2025 | $0.12 | $0.05 | +165.7% | $142.4M |
| Jul 28, 2025 | $0.09 | $0.03 | +200.0% | $138.0M |
| Apr 28, 2025 | $0.11 | $0.05 | +120.0% | $133.1M |
| Feb 10, 2025 | $0.45 | $0.37 | +21.6% | $222.2M |
| Oct 28, 2024 | $0.26 | $0.20 | +30.0% | $195.8M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (forward) | 15.7× | — | — | — |
| EV / EBITDA | 17.1× | — | — | Top 31% |
| EV / Sales | 2.24× | — | — | Top 31% |
| Free-cash-flow yield | 4.45% | — | — | Top 38% |
| Earnings yield | -3.62% | — | — | Bottom 26% |
P/E over the past five years
Range 14.2× – 271.8× since Oct 1, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +5.8%
- Earnings per share growth (TTM)
- -168.8%
- Change in P/E multiple
- +64.0%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -7.3%
- 200-day average slope (20 days)
- +1.3%
- Distance from 50-day average
- -4.1%
- Distance from 200-day average
- -2.6%
- RSI (14)
- 48.1
- Relative volume
- 0.98×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 50.2%
- Volatility vs own 5-year history
- 66th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.54
- Correlation with S&P 500
- 0.49
- Current drawdown from 1-year high
- -34.4%
- Maximum drawdown, 3 years
- -44.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jun 21, 2023 | Apr 8, 2025 | -55.1% | 451 days | Not yet recovered |
| Jan 4, 2022 | Apr 29, 2022 | -31.8% | 80 days | 104 days (Sep 28, 2022) |
| Apr 13, 2021 | May 25, 2021 | -23.6% | 30 days | 46 days (Jul 30, 2021) |
| Oct 28, 2022 | Mar 13, 2023 | -23.5% | 91 days | 22 days (Apr 13, 2023) |
| Aug 3, 2021 | Oct 4, 2021 | -19.0% | 43 days | 22 days (Nov 3, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.21B
- EPS, diluted (TTM)
- -$0.41
- Revenue (TTM)
- $495.8M
- 52-week range
- $8.47 – $17.68
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $507.1M | $625.0M | $607.9M | $678.7M | $360.5M |
| Gross profit | $259.7M | $315.9M | $312.5M | $365.9M | $163.7M |
| Operating income | $18.8M | $45.5M | $22.2M | $63.1M | $17.0M |
| Net income | $13.3M | $28.2M | $84.0M | $39.2M | -$43.3M |
| EPS (diluted) | $0.12 | $0.25 | $0.72 | $0.33 | -$0.38 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $195.8M | $222.2M | $133.1M | $138.0M | $142.4M | $98.2M | $121.7M | $133.5M |
| Net income | $21.7M | $38.1M | $5.9M | $2.9M | $2.7M | -$54.8M | $7.3M | -$2.3M |
| EPS (diluted) | $0.19 | $0.32 | $0.05 | $0.03 | $0.02 | -$0.48 | $0.07 | -$0.02 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $41.0M | $5.5M | $7.1M | $61.9M | $108.0M |
| Capital expenditure | -$13.0M | -$9.3M | -$8.5M | -$9.2M | -$11.1M |
| Free cash flow | $28.0M | -$3.8M | -$1.4M | $52.7M | $96.9M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $12.3M | $2.0M | $6.6M | -$23.4M | -$73.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $231.9M
- Total assets
- $632.6M
- Total liabilities
- $272.3M
- Total debt
- $130.1M
- Net debt
- -$101.7M
- Shareholders’ equity
- $360.3M
As of Jul 3, 2026 (filed Aug 17, 2026).
Short interest
- Shares sold short
- 6,311,693
- Days to cover
- 5.08
- Change vs previous report
- +8.1%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Oct 15, 1999
- 2-for-1