profit from every $100 of sales.
$0$100
Harmonic
$10.34-1.24% today
+7.6% in 1 year
1-year low $8.851-year high $17.11
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What Harmonic sold, what it kept, and what it did with the cash.
Sales went from $625 million in 2022 to $361 million in 2025, with -$43.3 million of profit last year.
SalesProfit
Harmonic handed back 82% of the cash it generated last year.
Buybacks $79M
Free cash flow 2025$97M
Bought back its own shares$79M
Paid as dividends–
Cash vs. debt$124M vs. $133M
Harmonic vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Harmonic | No profit yet | ||
 Cisco | 28.4× · Fair price | ||
 Foxconn Industrial Internet | 22.6× · Fair price | ||
 Motorola Solutions | 40.8× · Expensive | ||
 Zhongji Innolight | 50.9× · Expensive |
AI analysis
An AI analyst reads Harmonic's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 625 | 388 | 488 | 361 | |
| 316 | 178 | 240 | 175 | |
| 49 | 30 | 88 | 17 | |
| 62 | 42 | 90 | 24 | |
| 28 | 84 | 39 | -43 | |
| 0.25 | 0.72 | 0.33 | -0.38 | |
| 50.5% | 45.9% | 49.2% | 48.5% | |
| 7.8% | 7.8% | 18.1% | 4.7% | |
| 4.5% | 21.6% | 8.0% | -12.0% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 710 | 768 | 797 | 718 |
| Cash | 90 | 84 | 101 | 124 |
| Total debt | 161 | 156 | 135 | 133 |
| Total liabilities | 386 | 331 | 331 | 335 |
| 325 | 437 | 465 | 383 | |
| 112 | 117 | 117 | 114 | |
| 8.1% | 4.0% | 10.3% | 1.9% | |
| 8.7% | 19.2% | 8.4% | -11.3% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 5 | 7 | 62 | 108 | |
| 9 | 8 | 9 | 11 | |
| -4 | -1 | 53 | 97 | |
| Dividends paid | – | – | – | – |
| 5 | 0 | 30 | 79 | |
| 25 | 27 | 28 | 32 |
Valuation
- –
- 18.4×
- –
- 3.9×
- 3.1×
- 11.5×
- 47.2×
- 8.7%
- -3.9%
- 0.0%
Profitability
- 48.5%
- 4.7%
- -12.0%
- 10.4%
- 4.1%
- 4.2%
- -10.3%
- -5.9%
- 8.4%
- 18.3%
Growth
- −16.8%
- –
- +83.7%
- –
- +2.9%
Financial health
- 0.4×
- 0.37
- 18.6%
- 10.5×
- 2.26
- 2.03
- 0.71
How it ranks in Technology
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 34%of 964
Bottom 35%of 972
Bottom 2%of 977
Top 13%of 981
What analysts expect
- Average price target
- $12.50
- Range
- $11.00 – $14.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 11, 2026 | 0.17 | 0.12 | +41.7% |
| Feb 19, 2026 | 0.14 | 0.10 | +40.0% |
| Nov 3, 2025 | 0.12 | 0.05 | +165.7% |
| Jul 28, 2025 | 0.09 | 0.03 | +200.0% |
| Apr 28, 2025 | 0.11 | 0.05 | +120.0% |
| Feb 10, 2025 | 0.45 | 0.37 | +21.6% |
| Oct 28, 2024 | 0.26 | 0.20 | +30.0% |
| Jul 29, 2024 | 0.08 | 0.04 | +105.1% |
News
Harmonic forecasts $545M-$555M 2026 revenue while raising full-year EPS to $0.80-$0.84Seeking Alpha · Nov 3, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
35No pass
Benjamin Graham
32No pass
Philip Fisher
33No pass
Peter Lynch
25No pass
Joel Greenblatt
0No pass
Charlie Munger
27No pass
Terry Smith
20No pass
Questions about Harmonic
Is Harmonic a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Harmonic AI analysis
What does Harmonic do?
Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. It is in Communication Equipment.
Does Harmonic pay a dividend?
No. Harmonic does not pay a dividend at the moment; in 2025 it returned $79.0 million to shareholders by buying back its own shares.
Is Harmonic stock halal?
Yes. Harmonic passes our halal screen: its business is permitted and its debt is 12% of its market value, under the 30% limit. How we check
How has Harmonic stock done over the past year?
Up 7.6% over the past twelve months, to $10.34. It traded between $8.85 and $17.11 and is 39.6% below its high.
Who are Harmonic's competitors?
The largest listed companies in the same industry are Cisco, Foxconn Industrial Internet, Motorola Solutions and Zhongji Innolight. The peers table on this page compares their profit, growth and price with Harmonic's.
Prices: daily closes to Nov 13, 2026. Fundamentals: company reports via invest-like data.