Harmonic Inc.
HLIT · Price history
Price at last available close
$10.73
+$0.18 (+1.71%) 1M
2026-10-28
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Company & revenue
About Harmonic Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Harmonic Inc., along with its affiliated entities, operates globally, delivering advanced software, hardware, system solutions, and related services for video content distribution. The company's business activities are structured into two main divisions: Video and Cable Access. The Video division furnishes comprehensive solutions for video processing, content production, and playout.
How they make money
Harmonic Inc. generates revenue primarily through the sale of broadband access network infrastructure, including hardware, software, and services. The company sells its solutions to cable and telecommunications operators, who pay for the deployment of virtualized broadband platforms and related support services to modernize their networks.
Products & services
Broadband access solutions including CableOS virtualized core software, remote PHY devices, and related professional services for network deployment and maintenance.
Brands & revenue mix
Flagship virtualized broadband core software platform.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company historically experiences significant customer concentration, with a limited number of large cable operators accounting for a substantial portion of total revenue as of the fiscal year ended December 31, 2025.
Suppliers, materials & equipment
- Contract Manufacturers — The company utilizes third-party contract manufacturers to assemble and test its hardware products.Source
Competitors
Strengths
Sources
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-07-03.
Quarterly EPS turned negative at -0.02 versus 0.03 a year earlier.
Separate recurring operating losses from noncash or one-time charges, and check cash flow rather than interpreting negative EPS as a cash-outflow amount.
Quarterly net income turned from a profit to a loss versus the same quarter last year.
Identify the causes in the interim report and distinguish operating cash use from accounting charges. Prior profitability is not a guarantee of recovery.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
33
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
59
Fair
Financial Strength
63
Business Quality / Moat
63
Management
49
Growth Quality
73
Risk / Durability
42
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
36
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
47/100
Building Historical Record
Model Score 47/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Balance-sheet / debt profile scores strongly
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for HLIT
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can HLIT maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is HLIT's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •How is HLIT likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What specifically needs to improve for HLIT to reach sustainable profitability?
- •What future growth or profitability would be needed to justify HLIT's current valuation?
Essential Investment Snapshot
Wall Street Score
33
Opportunity Score
36
Market Cap
$1.17B
P/E Ratio
-25.4
EPS
$-0.42
52-Week High
$17.68
52-Week Low
$8.47
Beta
1.32
Analyst Target
$17.00
Shares Outstanding
114.2M
Total Revenue
$495.8M
Total Debt
$130.1M
Dividend
No current dividend
Liquidation Value / Share
$3.16
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for HLIT
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on HLIT.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Leadership in virtualized broadband access technology.
- +Strong backlog and deferred revenue position.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Communication Equipment industry.
- −High customer concentration and dependence on large capital expenditure cycles.
- −Risks associated with international operations and supply chain disruptions.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
4 historical score records availablePrevious Score
33
Sep 28, 2026
Change
+0.1
points
Current Score
33
Oct 1, 2026
Category Changes
HLIT increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
26
Projected Change
-6.4 points
Preliminary comparable-period financial changes suggest decline of approximately 6.4 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$10.73
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $495.8M | $360.5M | $678.7M | $607.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $244.4M | $196.9M | $312.8M | $295.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $251.4M | $163.7M | $365.9M | $312.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $86.0M | $65.2M | $121.0M | $126.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $106.2M | $81.4M | $153.1M | $163.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $192.6M | $146.6M | $302.8M | $290.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $65.1M | $23.7M | $77.4M | $34.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $58.8M | $17.0M | $63.1M | $22.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $3.7M | $3.8M | $7.3M | $2.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $53.4M | $8.9M | $57.9M | $19.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $22.2M | $7.6M | $18.7M | -$64.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | -$47.1M | -$43.3M | $39.2M | $84.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $-0.42 | $-0.38 | $0.34 | $0.75 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 109M | 114M | 115M | 112M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 110M | 114M | 117M | 117M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$133.5M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$0.02
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-13.8%
Cash Change
+87.1%
Margin Change
-3.8 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
- Debt reduced
What Weakened
- Margins contracted
Potential Score Impact
Positive indicators included cash levels, debt levels. Pressure indicators included revenue growth, EPS growth, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 3.3%. EPS declined 166.7%. Cash increased 87.1%. Total debt declined 13.8%. Net income margin declined by 3.8 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · HLIT
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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