Latest Ratios: P/E Ratio 36.6x · EV/EBITDA 11.3x · ROE 12.0%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.5B | $2.6B | $3.2B | $4.4B | $4.3B | $3.2B | $5.7B | $5.2B | $4.6B | $3.9B | $2.1B |
| Enterprise Value | $4.5B | $3.5B | $4.1B | $5.0B | $4.7B | $3.8B | $6.3B | $5.5B | $4.8B | $4.0B | $2.3B |
| P/E Ratio → | 36.62 | 26.36 | 19.09 | 37.27 | 36.94 | 75.26 | 71.62 | 67.34 | 84.12 | 86.07 | — |
| P/S Ratio | 2.62 | 1.92 | 2.36 | 3.35 | 3.64 | 3.27 | 6.54 | 5.22 | 4.79 | 4.33 | 2.36 |
| P/B Ratio | 4.46 | 3.21 | 3.91 | 4.57 | 5.20 | 4.33 | 7.78 | 8.80 | 6.93 | 5.20 | 2.83 |
| P/FCF | 13.39 | 9.83 | 22.50 | 38.00 | 26.13 | 42.86 | 79.34 | 47.18 | 114.87 | 26.89 | 25.00 |
| P/OCF | 11.90 | 8.73 | 17.64 | 24.14 | 15.58 | 18.85 | 52.33 | 32.64 | 29.08 | 17.76 | 13.09 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.65 | 3.03 | 3.83 | 4.05 | 3.79 | 7.21 | 5.53 | 4.97 | 4.41 | 2.56 |
| EV / EBITDA | 11.25 | 8.91 | 12.47 | 19.79 | 19.67 | 22.52 | 36.08 | 27.97 | 24.94 | 27.42 | 35.04 |
| EV / EBIT | 18.51 | 14.66 | 16.69 | 24.25 | 28.33 | 35.83 | 62.74 | 32.99 | 57.60 | 62.15 | 57.77 |
| EV / FCF | — | 13.59 | 28.95 | 43.44 | 29.08 | 49.74 | 87.51 | 49.96 | 119.35 | 27.40 | 27.10 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.7% | 55.7% | 57.2% | 54.4% | 53.3% | 53.4% | 49.2% | 49.4% | 43.2% | 45.6% | 42.7% |
| Operating Margin | 18.1% | 18.1% | 16.3% | 12.6% | 13.4% | 8.1% | 10.3% | 10.5% | 8.6% | 6.2% | -2.2% |
| Net Profit Margin | 7.3% | 7.3% | 12.3% | 9.0% | 9.9% | 4.4% | 9.1% | 7.7% | 5.7% | 5.0% | -3.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.0% | 12.0% | 18.8% | 13.2% | 14.7% | 5.9% | 12.1% | 12.2% | 7.7% | 6.1% | -3.6% |
| ROA | 4.0% | 4.0% | 7.2% | 5.7% | 6.1% | 2.4% | 5.1% | 6.0% | 4.4% | 3.7% | -2.1% |
| ROIC | 10.3% | 10.3% | 10.0% | 8.6% | 9.1% | 4.7% | 6.1% | 8.9% | 7.5% | 4.8% | -1.5% |
| ROCE | 12.1% | 12.1% | 11.8% | 9.2% | 10.1% | 5.4% | 7.0% | 10.2% | 8.8% | 6.0% | -1.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.54 | 1.54 | 1.49 | 0.84 | 0.94 | 1.04 | 1.06 | 0.75 | 0.52 | 0.34 | 0.43 |
| Debt / EBITDA | 3.08 | 3.08 | 3.70 | 3.19 | 3.18 | 4.67 | 4.47 | 2.26 | 1.81 | 1.74 | 4.87 |
| Net Debt / Equity | — | 1.23 | 1.12 | 0.66 | 0.59 | 0.70 | 0.80 | 0.52 | 0.27 | 0.10 | 0.24 |
| Net Debt / EBITDA | 2.47 | 2.47 | 2.78 | 2.48 | 2.00 | 3.12 | 3.37 | 1.56 | 0.94 | 0.51 | 2.71 |
| Debt / FCF | — | 3.76 | 6.44 | 5.45 | 2.96 | 6.88 | 8.17 | 2.78 | 4.48 | 0.51 | 2.09 |
| Interest Coverage | 8.41 | 8.41 | 25.35 | 15.89 | 11.43 | 6.14 | 5.95 | 10.23 | 8.43 | 14.18 | 4.84 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.95 | 2.95 | 1.62 | 2.56 | 3.06 | 1.71 | 2.74 | 2.20 | 2.44 | 1.35 | 2.42 |
| Quick Ratio | 1.87 | 1.87 | 0.99 | 1.50 | 2.03 | 1.05 | 1.46 | 1.21 | 1.62 | 0.94 | 1.58 |
| Cash Ratio | 0.87 | 0.87 | 0.53 | 0.60 | 1.13 | 0.59 | 0.76 | 0.50 | 0.72 | 0.47 | 0.66 |
| Asset Turnover | — | 0.56 | 0.56 | 0.60 | 0.60 | 0.53 | 0.48 | 0.78 | 0.76 | 0.73 | 0.72 |
| Inventory Turnover | 1.93 | 1.93 | 1.59 | 1.88 | 2.10 | 1.58 | 1.37 | 1.85 | 2.83 | 3.06 | 2.87 |
| Days Sales Outstanding | — | 59.33 | 54.36 | 57.60 | 55.95 | 58.57 | 53.49 | 61.00 | 69.80 | 61.06 | 62.89 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 3.8% | 5.2% | 2.7% | 2.7% | 1.3% | 1.4% | 1.5% | 1.2% | 1.2% | — |
| FCF Yield | 7.5% | 10.2% | 4.4% | 2.6% | 3.8% | 2.3% | 1.3% | 2.1% | 0.9% | 3.7% | 4.0% |
| Buyback Yield | 5.0% | 6.8% | 7.0% | 0.0% | 1.8% | 0.0% | 0.0% | 3.4% | 3.5% | 2.6% | 0.0% |
| Total Shareholder Yield | 5.0% | 6.8% | 7.0% | 0.0% | 1.8% | 0.0% | 0.0% | 3.4% | 3.5% | 2.6% | 0.0% |
| Shares Outstanding | — | $47M | $51M | $51M | $51M | $51M | $51M | $52M | $53M | $54M | $52M |
Plasma volume and integration
According to current market data, Haemonetics trades at a forward P/E of 15.63, which appears to discount the company's historical P/E of 37.70, suggesting that investors are increasingly skeptical of the firm's ability to sustain long-term earnings growth amidst recent operational and acquisition-related volatility.
The significant spread between trailing and forward multiples implies that the market is pricing in a contraction in earnings quality or a deceleration in the core plasma business. Investors should monitor whether the current EV/EBITDA of 11.51 adequately compensates for the integration risks associated with recent inorganic expansion efforts.
Based on reported financial figures, Haemonetics' ROIC has remained stagnant, hovering near 2.2% in 2026Q4, which indicates that the company is struggling to generate meaningful returns on its invested capital as it continues to deploy significant resources into M&A and infrastructure upgrades.
The persistent low ROIC suggests that the capital allocated toward recent acquisitions has yet to yield the expected synergies or margin expansion. This trend warrants further investigation into whether the company's capital allocation strategy is effectively compounding value or merely diluting returns through excessive goodwill accumulation.
As evidenced by recent quarterly filings, Haemonetics' days inventory outstanding reached 193 days in 2026Q4, a figure that highlights significant inefficiencies in inventory management and suggests that the company's razor-and-blade model is currently burdened by high levels of tied-up working capital.
The elevated DIO, when compared to historical norms, may indicate a buildup of hardware or disposables that are not moving through the supply chain as efficiently as anticipated. This inefficiency appears to be a primary drag on the company's cash conversion cycle, limiting its ability to generate consistent free cash flow.
According to recent balance sheet disclosures, Haemonetics' debt-to-equity ratio has climbed to 1.54, reflecting a more aggressive financing posture that may limit the company's strategic flexibility in a higher interest rate environment compared to its historical, more conservative capital structure.
While the interest coverage ratio of 9.57 suggests that debt service remains manageable for now, the upward trend in leverage warrants close monitoring by investors. The reliance on debt to fund growth initiatives increases the company's sensitivity to any potential downturns in plasma collection volumes or hospital procedure demand.
Based on an analysis of the business model, the P/E ratio is frequently misapplied to Haemonetics because it fails to account for the heavy depreciation of placed equipment and the non-cash amortization of acquisition-related intangibles that distort reported net income.
Investors should instead focus on EV/EBITDA or free cash flow yield to better capture the underlying cash-generating power of the recurring disposable revenue stream. Relying on P/E may lead to an inaccurate assessment of the company's true valuation, as it ignores the significant capital intensity required to maintain the installed base.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HAE stock.
Haemonetics Corporation's current P/E ratio is 36.6x. The historical average is 45.1x. This places it at the 56th percentile of its historical range.
Haemonetics Corporation's current EV/EBITDA is 11.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.4x.
Haemonetics Corporation's return on equity (ROE) is 12.0%. The historical average is 8.7%.
Based on historical data, Haemonetics Corporation is trading at a P/E of 36.6x. This is at the 56th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Haemonetics Corporation has 55.7% gross margin and 18.1% operating margin. Operating margin between 10-20% is typical for established companies.
Haemonetics Corporation's Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.