Harmonic Inc. (HLIT) P/E Ratio History
Deep ValueTrading at -39.7x · 0th percentile of 5-year range · Significant discount to historical valuation · Data 1995–2025
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P/E Ratio Analysis
As of June 22, 2026, Harmonic Inc. (HLIT) trades at a price-to-earnings ratio of -39.7x, with a stock price of $15.08 and trailing twelve-month earnings per share of $-0.38.
The current P/E is 175% below its 5-year average of 52.7x. Over the past five years, HLIT's P/E has ranged from a low of 16.1x to a high of 240.8x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Technology sector median P/E of 29.0x, HLIT trades at a 237% discount to its sector peers. The sector includes 352 companies with P/E ratios ranging from 0.0x to 187.7x.
Relative to the broader market, HLIT trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our HLIT DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
HLIT Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
HLIT P/E vs Peers
Carrier Network Infrastructure Equipment peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $11B | 314.5 | 68.90 | +225%Best | |
| $2B | 146.0 | - | +158% | |
| $2B | 58.4 | 2.78 | -15% | |
| $471B | 46.9 | - | +0% | |
| $61B | 503.8 | - | +47% | |
| $82B | 4.2 | 0.22 | +30% | |
| $16B | 3.5Lowest | 0.19Best | +4% | |
| $2.6T | 34.1 | 1.22 | +30% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
HLIT Historical P/E Data (1995–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | Sep 26 2025 | $10.07 | $0.42 | 23.8x | -84% |
| FY2025 Q2 | Jun 27 2025 | $9.49 | $0.59 | 16.1x | -89% |
| FY2025 Q1 | Mar 28 2025 | $9.71 | $0.45 | 21.6x | -85% |
| FY2024 Q4 | - | $13.23 | $0.33 | 40.1x | -73% |
| FY2024 Q3 | Sep 27 2024 | $14.49 | $0.73 | 19.8x | -87% |
| FY2024 Q2 | Jun 28 2024 | $11.77 | $0.48 | 24.5x | -83% |
| FY2024 Q1 | Mar 29 2024 | $13.44 | $0.60 | 22.4x | -85% |
| FY2023 Q4 | Dec 31 2023 | $13.04 | $0.71 | 18.4x | -88% |
| FY2023 Q3 | Sep 29 2023 | $9.63 | $0.04 | 240.8x | +63% |
| FY2023 Q2 | Jun 30 2023 | $16.17 | $0.18 | 89.8x | -39% |
| FY2023 Q1 | Mar 31 2023 | $14.59 | $0.31 | 47.1x | -68% |
| FY2022 Q4 | Dec 31 2022 | $13.10 | $0.26 | 50.4x | -66% |
| FY2022 Q3 | Sep 30 2022 | $13.07 | $0.39 | 33.5x | -77% |
| FY2022 Q2 | Jul 01 2022 | $8.60 | $0.32 | 26.9x | -82% |
| FY2022 Q1 | Apr 01 2022 | $9.34 | $0.16 | 58.4x | -61% |
| FY2021 Q4 | Dec 31 2021 | $11.76 | $0.11 | 106.9x | -28% |
| FY2021 Q3 | Oct 01 2021 | $8.81 | $0.06 | 146.8x | -1% |
| FY2014 Q1 | Mar 28 2014 | $6.84 | $0.25 | 27.7x | -81% |
| FY2013 Q4 | - | $7.38 | $0.36 | 20.4x | -86% |
| FY2013 Q3 | Sep 27 2013 | $7.78 | $0.43 | 18.3x | -88% |
| FY2013 Q1 | Mar 29 2013 | $5.79 | $0.03 | 196.3x | +33% |
| FY2012 Q2 | Jun 29 2012 | $4.26 | $0.00 | 1521.4x | +927% |
| FY2012 Q1 | Mar 30 2012 | $5.47 | $0.01 | 896.7x | +505% |
| FY2011 Q4 | Dec 31 2011 | $5.04 | $0.07 | 67.5x | -54% |
| FY2010 Q3 | Oct 01 2010 | $7.00 | $0.10 | 72.2x | -51% |
| FY2010 Q2 | Jul 02 2010 | $5.60 | $0.13 | 42.9x | -71% |
| FY2009 Q1 | Apr 03 2009 | $6.94 | $0.33 | 21.0x | -86% |
| FY2008 Q4 | Dec 31 2008 | $5.61 | $0.67 | 8.4x | -94% |
| FY2008 Q3 | Sep 26 2008 | $8.73 | $0.60 | 14.6x | -90% |
| FY2008 Q2 | Jun 27 2008 | $9.64 | $0.60 | 16.1x | -89% |
| FY2008 Q1 | Mar 28 2008 | $7.54 | $0.41 | 18.4x | -88% |
| FY2007 Q4 | Dec 31 2007 | $10.48 | $0.28 | 37.5x | -75% |
| FY2007 Q3 | Sep 28 2007 | $10.61 | $0.27 | 38.9x | -74% |
| FY2007 Q2 | Jun 29 2007 | $8.87 | $0.20 | 43.7x | -70% |
| FY2007 Q1 | Mar 30 2007 | $9.82 | $0.08 | 117.2x | -21% |
| FY2006 Q4 | Dec 31 2006 | $7.27 | $0.00 | 1690.7x | +1041% |
| FY2005 Q3 | Sep 30 2005 | $5.82 | $0.09 | 66.8x | -55% |
| FY2005 Q2 | Jul 01 2005 | $4.92 | $0.07 | 73.1x | -51% |
| FY2005 Q1 | Apr 01 2005 | $9.55 | $0.08 | 124.5x | -16% |
| FY2004 Q4 | Dec 31 2004 | $8.34 | $0.02 | 401.0x | +171% |
| FY2000 Q1 | Mar 31 2000 | $83.25 | $0.80 | 104.7x | -29% |
| FY1999 Q4 | Dec 31 1999 | $94.94 | $0.54 | 175.8x | +19% |
| FY1999 Q3 | Oct 01 1999 | $62.31 | $0.24 | 264.3x | +78% |
| FY1999 Q2 | Jul 02 1999 | $27.09 | $0.08 | 332.0x | +124% |
| FY1997 Q4 | Dec 31 1997 | $5.44 | $0.12 | 45.0x | -70% |
| FY1997 Q3 | Sep 26 1997 | $8.31 | $0.20 | 42.6x | -71% |
| FY1997 Q2 | Jun 27 1997 | $8.28 | $0.23 | 36.8x | -75% |
| FY1997 Q1 | Mar 28 1997 | $7.25 | $0.21 | 34.5x | -77% |
| FY1996 Q4 | - | $7.69 | $0.18 | 42.7x | -71% |
| FY1996 Q3 | Sep 27 1996 | $9.63 | $0.14 | 68.2x | -54% |
| FY1996 Q2 | Jun 28 1996 | $11.38 | $0.13 | 86.8x | -41% |
| FY1996 Q1 | Mar 31 1996 | $6.88 | $0.13 | 52.4x | -65% |
| FY1995 Q4 | Dec 31 1995 | $5.50 | $0.13 | 42.0x | -72% |
Average P/E for displayed period: 148.1x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
31+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
HLIT — Frequently Asked Questions
Quick answers to the most common questions about buying HLIT stock.
What is HLIT's P/E ratio?
Harmonic Inc. (HLIT) trailing twelve-month P/E ratio is -39.7x, based on TTM diluted EPS of $-0.38. The 5-year average P/E is 52.7x and the historical range spans 16.1x to 240.8x.
Is HLIT stock overvalued or undervalued?
HLIT trades at -39.7x P/E, below its 5-year average of 52.7x. At the 0th percentile of its historical range (16.1x–240.8x), the stock is priced at a discount to its own history.
Is HLIT stock expensive?
No, HLIT is not expensive on a historical basis. The current P/E of -39.7x is below the 5-year average of 52.7x and sits at the 0th percentile of its valuation range.
What is HLIT's historical P/E range?
Over the past 5 years, HLIT's P/E ratio has ranged from 16.1x to 240.8x, with a median of 27.7x and an average of 52.7x. The current P/E of -39.7x places the stock at the 0th percentile of this range. Full historical data spans 1995–2025.
How does HLIT's P/E compare to the S&P 500?
HLIT trades at -39.7x P/E versus the S&P 500 median of 24.4x. The 263% discount to the market suggests lower growth expectations or perceived higher risk.
How does HLIT's valuation compare to Technology peers?
Harmonic Inc. P/E of -39.7x compares to the Technology sector median of 29.0x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is HLIT's PEG ratio?
HLIT PEG ratio is N/A, based on a P/E of -39.7x and EPS growth of -215.2%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is HLIT's earnings yield?
HLIT earnings yield is N/A, the inverse of its -39.7x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.