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HLITHarmonic Inc.
$9.51$1.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
HLIT logo

Harmonic Inc.

HLIT
NASDAQ · Networking & Telecom Equipment
$9.51
At close - Nov 6, 4:00 PM EST - USD
Market Cap$1.03B
P/E-29.8x
52W High$17.68
Volume1.4M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Revenue Rebound and Margin Recovery Test Earnings Quality

Harmonic's revenue rebounded from $98.2M in 2025Q4 to $148.8M in 2026Q3, and gross margin has held steady at 51.8%-52.4% across the last three quarters, suggesting the cyclical trough may be behind the company.

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HLIT price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-179% Peers

P/E is 179% below peer median

03

Market leadership

RS 33 · Lag

Laggard (Underperforming 67% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 2

Market performance

Price History →

Trailing total returns as of 11/9/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HLIT-5.09%
S&P 500 (^GSPC)+7.63%
1-Year Return
HLIT-6.58%
S&P 500 (^GSPC)+9.69%
3-Year Return
HLIT-13.78%
S&P 500 (^GSPC)+71.64%
5-Year Return
HLIT-11.94%
S&P 500 (^GSPC)+59.79%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-29.8x
Forward P/E
11.8x
EV/EBITDA0th %ile
12.4x
FCF YieldCash Flow
2.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-29.8x
52.4x
0th· Low
EV/EBITDA
12.4x
41.0x
0th· Low
Price/FCF
37.2x
29.5x
67th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$1.41-85.2%
Base (Fair)$9.66+1.6%
Bull$3.39-64.4%
$1.41 Bear$9.66 Base$3.39 Bull
Current Market Price: $9.51
Trades at a 1.6% discount to Base DCF ($9.66)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$361M-46.9% YoY
Net income FY25
-$43M-210.4% YoY
Free cash flow FY25
$97M+83.7% YoY
Operating margin FY25
4.7%-4.6 pts YoY
ROIC (FY25)2.8%
Avg ROIC 5Y5.8%
ROE (TTM)-9.5%
Piotroski Score4 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate11/12 (92%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 2, 2026
$0.23+36.1%
vs $0.17
$149M+15.0%
vs $129M
Q3 2026
Aug 12, 2026
$0.24+42.6%
vs $0.17
$133M+10.4%
vs $121M
Q2 2026
May 11, 2026
$0.17+41.7%
vs $0.12
$122M+19.1%
vs $102M
Q1 2026
Feb 19, 2026
$0.14+40.0%
vs $0.10
$98M-30.6%
vs $141M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Reuters·Oct 27, 2026
Robinhood CEO's AI startup Harmonic expands into software, chip design verification

Oct 27 (Reuters) - Harmonic (HLIT.

Defense World·Oct 26, 2026
Harmonic (HLIT) Set to Announce Earnings on Monday

Harmonic (NASDAQ: HLIT - Get Free Report) is expected to be releasing its Q3 2026 results after the market closes on Monday, November 2nd. Analysts expect the company to announce earnings of $0.1690 per share and revenue of $129.47 million for the quarter. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY

PRNewsWire·Oct 20, 2026
Harmonic Announces Reporting Date for Third Quarter 2026 Results

SAN JOSE, Oct. 20, 2026 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced it will release its third quarter 2026 financial results after the market close on Monday, November 2, 2026. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m.

Defense World·Oct 15, 2026
Harmonic Inc. (NASDAQ:HLIT) Stock Rated “Hold” by Wall Street Brokerages

Shares of Harmonic Inc. (NASDAQ: HLIT - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the

Filtered for Harmonic Inc.More Headlines
04

Compare before deciding

Benchmark HLIT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Harmonic Inc. (HLIT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HLIT logoHLITHarmonic Inc.Current
$9.51$1.03B-29.79-46.88%-7.01%-9.55%—
VIAV logoVIAVViavi Solutions Inc.
$28.47$7.02B113.1140.03%3.97%6.02%—
ADTN logoADTNADTRAN Holdings Inc.
$4.04$327.23M-13.1017.46%-2.2%-5.08%—
CALX logoCALXCalix, Inc.
$30.60$1.93B43.1020.26%3.99%6.09%—
ATEN logoATENA10 Networks, Inc.
$24.76$1.78B39.1011.03%14.66%21.23%0.95%
CSCO logoCSCOCisco Systems, Inc.
$93.85$369.9B28.2011.77%20.95%27.39%1.75%

Compare HLIT vs Peers

Harmonic Inc. (HLIT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs VIAV

Most directly comparable listed peer for HLIT.

Scale Benchmark

vs AMZN

Larger-name benchmark to compare HLIT against a more recognizable public peer.

Peer Set

Compare Top 5

vs VIAV, ADTN, CALX, ATEN

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HLIT SEC Filings & Documents

Harmonic Inc. (HLIT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Nov 2, 2026·SEC

Material company update

Aug 12, 2026·SEC

Material company update

Jun 17, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 14, 2025·SEC

FY 2024

Feb 16, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Nov 6, 2026·SEC

FY 2026

Aug 17, 2026·SEC

FY 2026

May 13, 2026·SEC

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HLIT Frequently Asked Questions

Harmonic Inc. (HLIT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Harmonic Inc.'s revenue?

Harmonic Inc. (HLIT) reported $502.2M in revenue over the trailing twelve months. Revenue was $360.5M in fiscal year 2025. That is 492% more than the $60.9M of fiscal year 1996.

How fast is Harmonic Inc. growing?

Harmonic Inc. (HLIT) revenue fell by 21.0% over the trailing twelve months, compared with the twelve months before.

Is HLIT profitable?

No. Harmonic Inc. (HLIT) reported a net loss of $35.2M over the trailing twelve months.

Dividend & Returns
What is HLIT's return on equity?

Harmonic Inc. (HLIT) had a return on equity (ROE) of -9.5% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Harmonic Inc.'s free cash flow?

Harmonic Inc. (HLIT) generated $27.7M in free cash flow over the trailing twelve months.

What if you invested $1,000 in HLIT back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →