HLIT - HARMONIC INC.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue Growth YoY (%)	-26.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-427%)	-19.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-346%)	-2.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-134%)	23.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+190%)	33.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+323%)	-6.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-175%)	-0.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-102%)	12.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+58%)	-11.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-247%)	7.7% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	-13.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-263%)	-6.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-177%)	-12.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-261%)	-3.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-143%)	29.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+272%)	32.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+306%)	-12.4% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-255%)	—	—
EPS Growth YoY (%)	N/M	-54.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	177.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	107.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—	—	64.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	N/M	N/M	84.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—
Net Income Growth YoY (%)	N/M	-53.3% Weak ↓ Weak Declining Year-over-year change in net income	198.0% Excellent ↑ Excellent Improving Year-over-year change in net income	112.6% Excellent ↑ Excellent Improving Year-over-year change in net income	N/M	-394.1% Weak ↓ Weak Declining Year-over-year change in net income	71.8% Excellent ↑ Excellent Improving Year-over-year change in net income	74.6% Excellent ↑ Excellent Improving Year-over-year change in net income	-14.7% Weak ↑ Weak Improving Year-over-year change in net income	-361.7% Weak Weak Year-over-year change in net income	66.1% Excellent Excellent Year-over-year change in net income	N/M	N/M	N/M	N/M	82.0% Excellent Excellent Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	86.1% Excellent Excellent Year-over-year change in free cash flow	N/M	64.7% Excellent Excellent Year-over-year change in free cash flow	N/M	285.1% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	N/M	9.6% Fair ↓ Fair Declining Year-over-year change in free cash flow	-26.4% Weak Weak Year-over-year change in free cash flow	106.3% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	-94.3% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	-16.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-1.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	17.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	15.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	7.9% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	1.9% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-0.3% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	2.3% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-6.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-4.2% Weak ↑ Weak Improving Compound annual revenue growth over 3 years	-10.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-7.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.0% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	18.4% Excellent Excellent Compound annual revenue growth over 3 years	14.6% Good Good Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	-1.0% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	3.9% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	8.5% Good ↑ Good Improving Compound annual revenue growth over 5 years	11.8% Good ↑ Good Improving Compound annual revenue growth over 5 years	4.6% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	0.1% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-1.5% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-2.7% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-7.6% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-5.9% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-2.3% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	6.3% Fair Fair Compound annual revenue growth over 5 years	4.8% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	37.8% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	-51.0% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Operating Margin (%) (%)	3.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-80%)	15.3% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-23%)	3.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-82%)	7.3% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	3.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	-3.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-116%)	3.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-84%)	-1.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-106%)	-19.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-199%)	-16.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-183%)	-3.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-117%)	-5.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-125%)	-5.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-125%)	-1.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-109%)	2.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-89%)	1.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-94%)	-3.8% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-119%)	10.8% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	—
Effective Tax Rate (%) (%)	86.3% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.1% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-338.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	36.6% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-49.4% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-11.6% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	-12.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-180%)	8.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-46%)	13.8% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-8%)	4.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-70%)	2.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-83%)	-7.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-152%)	-1.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-110%)	-5.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-135%)	-23.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-254%)	-17.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-219%)	-4.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-128%)	-10.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-171%)	8.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	-2.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-114%)	1.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-89%)	-1.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-107%)	-7.6% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-150%)	17.5% Good Good Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+17%)	—
FCF Margin (%) (%)	26.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	10.8% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	-0.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-0.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.5% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	1.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	5.2% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	1.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	-3.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-2.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	8.6% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	8.5% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	11.0% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	5.1% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	-4.3% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	0.9% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	14.1% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-2.24x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.34x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	-0.02x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.13x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	2.12x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.24x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-3.54x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.25x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	—	0.20x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.51x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-0.81x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.06x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	-5.32x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	3.18x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	4.17x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.12x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.81x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Return on Invested Capital (%)	0.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	9.1% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	22.3% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	8.5% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	9.0% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	-5.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	3.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-1.7% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-23.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-18.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-3.1% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-4.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-3.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-2.3% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	7.5% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	2.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	9.4% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	2.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	6.4% Caution ↑ Caution Improving Operating profit relative to total assets Optimal: > 10%	2.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	2.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-1.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-14.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-12.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-4.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-1.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	0.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	-2.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-11.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-194%)	8.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-30%)	19.2% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+60%)	8.7% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-28%)	4.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	-11.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-194%)	-2.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-120%)	-9.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-177%)	-38.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-417%)	-26.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-323%)	-4.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-140%)	-12.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-204%)	7.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-38%)	-2.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-116%)	1.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-87%)	-0.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-107%)	-5.9% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-149%)	15.4% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+29%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Debt to Equity (x)	0.29x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-63%)	0.25x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-69%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.05x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-94%)	0.06x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	—	0.07x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-92%)	—	0.10x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-87%)	0.07x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-91%)	—	—	—	—	—	—	—	—	—
Interest Coverage (x)	3.46x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	11.89x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	13.64x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	9.03x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	1.77x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-1.08x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	1.13x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-0.45x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-6.67x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-6.64x Weak Weak Operating income divided by interest expense Optimal: > 5x	-28.39x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—	—
Net Debt (USD)	$-12.02M	$12.82M	$-84.27M	$-73.67M	$-115.45M	$-98.64M	$-75.91M	$-65.99M	$-35.18M	$-36.30M	$-126.19M	$-73.03M	$-90.33M	$-96.67M	$-90.98M	$-96.53M	$-152.48M	$-179.89M	$-129.00M
Debt / EBITDA (x)	4.45x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.32x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.28x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.57x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	0.70x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	-0.39x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.40x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue per Share (USD)	$3.17	$4.24	$5.44	$5.95	$5.00	$3.91	—	—	—	—	$4.31	$4.69	$4.34	$4.56	$4.77	$4.17	$3.33	$3.86	—
Basic EPS, GAAP (USD)	$-0.38	$0.34	$0.75	$0.27	$0.13	$-0.30	—	—	—	—	$-0.18	$-0.50	$0.35	$-0.09	$0.08	$-0.04	$-0.25	$0.68	—
Free Cash Flow per Share (USD)	$0.85	$0.46	$-0.01	$-0.04	$0.28	$0.07	—	—	—	—	$-0.09	$0.40	$0.37	$0.50	$0.24	$-0.18	$0.03	$0.55	—
Book Value per Share (USD)	$3.45	$3.99	$3.89	$2.95	$2.87	$2.63	$2.75	$2.62	$2.64	$3.45	$4.32	$4.24	$4.97	$4.85	$4.85	$4.63	$4.24	$4.38	—
Tangible Book Value per Share (USD)	$2.90	$3.46	$1.76	$0.79	$0.54	$0.15	$0.14	$-0.14	$-0.30	$0.43	$1.72	$1.98	$2.98	$2.99	$3.03	$2.74	$3.57	$4.38	—
Basic Weighted Avg Shares (shares)	113.66M	115.12M	111.65M	105.08M	101.48M	96.97M	—	—	—	—	87.51M	92.51M	106.53M	116.46M	115.17M	101.49M	95.83M	94.53M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Working Capital (USD)	$296.42M	$372.86M	$58.34M	$23.23M	$98.67M	$90.74M	$59.46M	$60.30M	$29.69M	$71.94M	$201.25M	$142.75M	$243.65M	$293.98M	$279.06M	$217.90M	$325.19M	—	—
LT Debt (USD)	$112.08M	$114.28M	$0.00	$15.92M	$17.98M	—	$17.15M	—	$21.85M	$19.33M	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$383.25M	$465.26M	$436.87M	$324.51M	$295.91M	$258.30M	$252.45M	$228.25M	$218.34M	$270.64M	$328.17M	$371.81M	$494.17M	$553.41M	$564.32M	$520.20M	$407.47M	$414.32M	$334.41M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Sales/Revenue/Turnover (USD)	$360.52M	$488.20M	$607.91M	$624.96M	$507.15M	$378.83M	$402.87M	$403.56M	$358.25M	$405.91M	$377.03M	$433.56M	$461.94M	$530.46M	$549.33M	$423.34M	$319.57M	$364.96M	—
Depreciation Expense (USD)	$11.08M	$12.14M	$12.26M	$12.26M	$12.55M	$11.74M	$11.29M	$12.97M	$14.60M	$18.82M	$13.24M	$16.46M	$16.64M	$15.20M	$13.87M	$9.99M	$8.65M	$7.01M	—
Net Income, GAAP (USD)	$-43.31M	$39.22M	$83.99M	$28.18M	$13.25M	$-29.27M	$-5.92M	$-21.04M	$-82.95M	$-72.31M	$-15.66M	$-46.25M	$37.03M	$-10.94M	$8.78M	$-4.33M	$-24.14M	$63.99M	—
Operating Cash Flow (USD)	$107.97M	$61.92M	$7.06M	$5.48M	$41.02M	$39.16M	$31.30M	$12.28M	—	$438.00K	$6.35M	$47.37M	$53.76M	$70.81M	$45.18M	$17.57M	$11.09M	$60.13M	—

HARMONIC INC.

Analytical Summary

19-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

Compare HLIT with peers