Zacks Investment Research·Jun 26, 2026
New Strong Buy Stocks for June 26thATI, HLIT, LYB, LZRFY and HCI have been added to the Zacks Rank #1 (Strong Buy) List on June 26th, 2026.
Harmonic Inc.(HLIT)Earnings, Financials & Key Ratios
HLIT•NASDAQ
$13.43
Price updated Jul 7, 2026
AboutHarmonic 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. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies. This segment's video processing appliance solutions include network management and application software, and hardware products, such as encoders, video servers, high-density stream processing systems, and edge processors. This segment also provides software-as-a-service (SaaS) solutions, which enables the packaging and delivery of streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion. The Cable Access segment offers CableOS software-based cable access solutions; and CableOS central cloud services primarily to cable operators. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. The company also provides technical support and professional services, such as maintenance and support, consulting, implementation, program management, technical design and planning, building and site preparation, integration and equipment installation, end-to-end system testing, and training. It sells its products through its direct sales force, as well as through independent resellers and systems integrators. The company was incorporated in 1988 and is headquartered in San Jose, California.Show more
- Revenue$361M-46.9%
- EBITDA$28M-62.7%
- Net Income-$43M-210.4%
- EPS (Diluted)-0.38-215.2%
- Gross Margin45.4%-15.8%
- EBITDA Margin7.8%-29.7%
- Operating Margin4.72%-49.2%
- Net Margin-12.01%-307.9%
- ROE-10.21%-217.4%
HLIT Price & Volume
Harmonic Inc. (HLIT) stock price & volume — 10-year historical chart
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Cyclical Revenue Volatility Challenges Software Pivot Strategy
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Contracting
Profitability:Strained
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Cyclical MSO CapEx dependency
Key Thesis Takeaways
- Harmonic's transition to a software-centric CableOS model remains hindered by significant revenue lumpiness, as evidenced by a 46.88% year-over-year revenue decline in the most recent period.
- While the company maintains a healthy liquidity buffer with a 2.26 current ratio, persistent R&D spending often exceeding $60 million annually continues to pressure operating margins.
- Investors should monitor whether the firm can achieve consistent scale in its software segment to offset the inherent volatility of its legacy video infrastructure business.
Verdict Logic
while the company maintains a solid 2.26 current ratio, the inconsistent operating margin profile and the -39.21 TTM P/E ratio suggest significant execution risk remains during the ongoing business model transition.
HLIT Growth Metrics
Harmonic Inc. (HLIT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-0.45%
5 Years-0.99%
3 Years-16.75%
TTM-27.47%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-178.77%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-179.16%
Return on Capital
10 Years-0.1%
5 Years6.79%
3 Years6.4%
Last Year2.96%
HLIT Recent Earnings
Harmonic Inc. (HLIT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.17+41.7%
$0.12
Rev
$122M+19.1%
$102M
Q1 2026
Feb 19, 2026Metric
Actual
Est
EPS
$0.14+40.0%
$0.10
Rev
$98M-30.6%
$141M
Q4 2025
Nov 3, 2025Metric
Actual
Est
EPS
$0.12+165.7%
$0.05
Rev
$142M+11.3%
$128M
Q3 2025
Jul 28, 2025Metric
Actual
Est
EPS
$0.09+200.0%
$0.03
Rev
$138M+7.9%
$128M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.17vs $0.12+41.7% | $122Mvs $102M+19.1% |
| Q1 2026 | Feb 19, 2026 | $0.14vs $0.10+40.0% | $98Mvs $141M-30.6% |
| Q4 2025 | Nov 3, 2025 | $0.12vs $0.05+165.7% | $142Mvs $128M+11.3% |
| Q3 2025 | Jul 28, 2025 | $0.09vs $0.03+200.0% | $138Mvs $128M+7.9% |
Based on last 12 quarters of dataView full earnings history →
Latest HLIT News
Recent stock market news and headlines for Harmonic Inc. (HLIT)
Zacks Investment Research·Jun 25, 2026
Harmonic vs. Belden: Which Connectivity Stock is a Better Buy Now?HLIT's broadband growth, stronger price gains and upbeat estimate revisions help it stand out over BDC despite a richer valuation.
PRNewsWire·Jun 17, 2026
Harmonic Completes Divestiture of Video Business to MediaKindTransaction Positions Harmonic as a Pure-Play Broadband Company SAN JOSE, Calif., June 17, 2026 /PRNewswire/ -- Harmonic Inc. (NASDAQ: HLIT), the worldwide leader in virtualized broadband solutions, today announced the successful completion of the sale of its Video Business to MediaKind, a global leader in cloud-based video streaming technology, for $145 million in cash.
Peers Comparison
Key metrics vs top competitors for Harmonic Inc. (HLIT)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $13.43 | $1.46B | -35.34 | -46.88% | -12.01% | -10.21% | — | |
| $40.22 | $9.31B | 268.13 | 8.39% | -4.03% | -6.92% | — | |
| $12.54 | $1.01B | -22.00 | 17.46% | -2.64% | -5.53% | — | |
| $38.41 | $2.45B | 147.73 | 20.26% | 3.2% | 4.25% | — | |
| $36.52 | $2.62B | 64.07 | 11.03% | 14.9% | 21.19% | — | |
| $111.79 | $440.61B | 43.84 | 5.3% | 19.69% | 25.14% | — |
Compare HLIT vs Peers
Harmonic Inc. (HLIT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HLIT SEC Filings & Documents
Harmonic Inc. (HLIT) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 11, 2026·SEC
Material company update
Apr 2, 2026·SEC
Material company update
Mar 23, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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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 $500.3M in revenue for fiscal year 2025. This represents a 722% increase from $60.9M in 1996.
How fast is Harmonic Inc. growing?
Harmonic Inc. (HLIT) saw revenue decline by 46.9% over the past year.
Is HLIT profitable?
Harmonic Inc. (HLIT) reported a net loss of $41.9M for fiscal year 2025.
Dividend & Returns
What is HLIT's return on equity?
Harmonic Inc. (HLIT) has a return on equity (ROE) of -10.2%. Negative ROE indicates the company is unprofitable.
What is Harmonic Inc.'s free cash flow?
Harmonic Inc. (HLIT) generated $45.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.