HLIT

Company Overview — What Does HARMONIC INC 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. 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. HARMONIC INC (HLIT) is classified as a small-cap stock in the Technology sector, specifically within the Electronic Equipment industry. The company is led by CEO Patrick J. Harshman and employs approximately 1,340 people, headquartered in San Jose, California. With a market capitalization of $1.0B, HLIT is one of the notable companies in the Technology sector.

HARMONIC INC (HLIT) Stock Rating — Reduce (April 2026)

As of April 2026, HARMONIC INC receives a Reduce rating with a composite score of 45.3/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.HLIT ranks #1,979 out of 4,446 stocks in our coverage universe. Within the Technology sector, HARMONIC INC ranks #221 of 584 stocks, placing it in the upper half of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

HLIT Stock Price and 52-Week Range

HARMONIC INC (HLIT) currently trades at $9.75. The stock gained $0.06 (0.6%) in the most recent trading session. The 52-week high for HLIT is $12.18, which means the stock is currently trading -20.0% from its annual peak. The 52-week low is $7.80, putting the stock 25.0% above its annual trough. Recent trading volume was 622K shares, suggesting relatively thin trading activity.

Is HLIT Overvalued or Undervalued? — Valuation Analysis

HARMONIC INC (HLIT) carries a value factor score of 41/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 31.13x, compared to the Technology sector average of 45.27x — a discount of 31%. The price-to-book ratio stands at 2.70x, versus the sector average of 3.16x. The price-to-sales ratio is 1.70x, compared to 1.06x for the average Technology stock. On an enterprise value basis, HLIT trades at 19.35x EV/EBITDA, versus 12.79x for the sector.

Overall, HLIT's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

HARMONIC INC Profitability — ROE, Margins, and Quality Score

HARMONIC INC (HLIT) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 8.7%, compared to the Technology sector average of -1.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 4.6% versus the sector average of -1.0%.

On a margin basis, HARMONIC INC reports gross margins of 55.0%, compared to 50.9% for the sector. The operating margin is 8.9% (sector: -0.5%). Net profit margin stands at 4.9%, versus -1.5% for the average Technology stock. Revenue growth is running at 2.6% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.

HLIT Debt, Balance Sheet, and Financial Health

HARMONIC INC has a debt-to-equity ratio of 29.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 2.50x, indicating strong short-term liquidity. Total debt on the balance sheet is $112M. Cash and equivalents stand at $127M.

HLIT has a beta of 1.44, meaning it is more volatile than the broader market — a $10,000 investment in HLIT would be expected to move 43.7% more than the S&P 500 on any given day. The stability factor score for HARMONIC INC is 62/100, reflecting average volatility within the normal range for its sector.

HARMONIC INC Revenue and Earnings History — Quarterly Trend

In TTM 2026, HARMONIC INC reported revenue of $609M and earnings per share (EPS) of $-0.38. Net income for the quarter was $33M. Gross margin was 55.0%. Operating income came in at $59M.

In FY 2025, HARMONIC INC reported revenue of $361M and earnings per share (EPS) of $-0.38. Net income for the quarter was $-43M. Gross margin was 48.5%. Revenue grew -46.9% year-over-year compared to FY 2024. Operating income came in at $14M.

In Q3 2025, HARMONIC INC reported revenue of $142M and earnings per share (EPS) of $0.02. Net income for the quarter was $3M. Gross margin was 54.2%. Revenue grew -27.3% year-over-year compared to Q3 2024. Operating income came in at $10M.

In Q2 2025, HARMONIC INC reported revenue of $138M and earnings per share (EPS) of $0.03. Net income for the quarter was $3M. Gross margin was 53.5%. Revenue grew -0.5% year-over-year compared to Q2 2024. Operating income came in at $4M.

Over the past 8 quarters, HARMONIC INC has demonstrated a growth trajectory, with revenue expanding from $139M to $609M. Investors analyzing HLIT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

HLIT Dividend Yield and Income Analysis

HARMONIC INC (HLIT) does not currently pay a dividend. This is common among smaller companies in the Electronic Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.

HLIT Momentum and Technical Analysis Profile

HARMONIC INC (HLIT) has a momentum factor score of 38/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 53/100 reflects moderate short selling activity.

HLIT vs Competitors — Technology Sector Ranking and Peer Comparison

Within the Technology sector, HARMONIC INC (HLIT) ranks #221 out of 584 stocks based on the Blank Capital composite score. This places HLIT in the upper half of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.

Comparing HLIT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full HLIT vs S&P 500 (SPY) comparison to assess how HARMONIC INC stacks up against the broader market across all factor dimensions.

HLIT Next Earnings Date

No upcoming earnings date has been announced for HARMONIC INC (HLIT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy HLIT? — Investment Thesis Summary

The quantitative profile for HARMONIC INC suggests caution. Momentum is weak at 38/100, a headwind for near-term performance. Low volatility (stability score 62/100) reduces downside risk.

In summary, HARMONIC INC (HLIT) earns a Reduce rating with a composite score of 45.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on HLIT stock.

Related Resources for HLIT Investors

Explore more research and tools: HLIT vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare HLIT head-to-head with peers: HLIT vs IHS, HLIT vs VRSN, HLIT vs ESE.