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Harmonic Inc.
$1.4B
Market Cap
40.1
P/E
0.25
PEG
0.4%
ROCE
0.3%
ROE
0.32
D/E
3.9%
OPM
-27.3%
% from 52W High
58
α RS
🔍 HLIT is showing a notable setup because it matches 2 of 37 tracked screener presets and an ECS of 64.3 last quarter. Net: Partial signal stack, not a recommendation. ? Conviction ECS
Sources
Conviction 2/37 · ECS 64.3
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🌏 Global Investor Returns
Currency-adjusted total returns for HLIT including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Harmonic Inc., together with its subsidiaries, provides broadband access solutions worldwide.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding HLIT
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 1.05M $9.5M 0.01% Mar 2026
Steve Cohen Point72 Asset Management 84.8K $762K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED Broadband revenue up 43% YoY to $121.7M, backlog record $582.1M, guidance raised.
Revenue & Profitability
Q1 2026 broadband revenue was $121.7 million, up 43% year-over-year. Non-GAAP EPS was $0.17, operating profit was $26 million. Full-year 2026 broadband revenue guidance raised to $475 million-$495 million, with EPS guidance of $0.57-$0.67. Backlog and deferred revenue reached a record $582.1 million, up 87% year-over-year.
Outlook
Management sees a multi-year network modernization cycle beyond a single upgrade, encompassing DOCSIS 4.0, fiber expansion, and AI-driven autonomous operations. Dell'Oro projects the cable addressable market to exceed $1.1 billion and fiber to exceed $2.6 billion by 2030. North America remains a key region, but international growth is accelerating.
Growth Drivers
Key growth levers include Rest-of-Market revenue, which grew 78% YoY and represented 42% of total revenue. Fiber products contributed over 14% of appliance and integration revenue in the past year. New customer wins such as KBRO (Taiwan) and Vyve Broadband (U.S.) illustrate expanding global adoption of the Harmonic platform.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Q1 2026 gross margins were not explicitly stated, but Q2 2026 guidance is 52%-53%, and full-year 2026 gross margin is guided at 50%-51.5%. Margins are pressured by elevated memory costs (net ~$6 million impact in H2) and new product ramps. Full-year operating profit guidance is $87 million-$101 million, including ~$10 million in stranded costs.
Key Risks
Risks flagged include memory chip pricing and supply dynamics, CPU, PCB, and aluminum supply constraints, server availability for Rest-of-Market customers, macroeconomic uncertainty, the situation in the Middle East, and estimated full-year tariff impacts of approximately $2.3 million. Management is being prudent due to these factors.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-12
Q2 2026 delivered record broadband revenue growth of 54% year-over-year, driven by strong rest of market demand, accelerating fiber deployments, and expanding intelligence platform adoption. Full-year guidance was raised, reflecting robust bookings, a strengthened balance sheet, and improved visibility.
Q1 2026 Q1 2026 2026-05-11
Q1 2026 saw 43% broadband revenue growth and record backlog, prompting a raised full-year outlook. Rest-of-Market revenue surged 78%, and the pending video business sale will sharpen broadband focus. Margins face pressure from memory costs, but strong cash flow supports ongoing share repurchases.
Q4 2025 Q4 2025 2026-02-19
Strong Q4 and FY25 results were driven by record broadband bookings, customer diversification, and robust free cash flow. The pending Video business sale will sharpen strategic focus and provide capital for growth, with 2026 guidance forecasting 22–33% revenue growth and margin expansion.
Q3 2025 Q3 2025 2025-11-03
Q3 2025 revenue and profitability exceeded guidance, driven by strong broadband and video performance, record SaaS growth, and major customer wins. Guidance anticipates moderate near-term broadband activity, with significant growth expected in 2026 as DOCSIS 4.0 ramps.
Q2 2025 Q2 2025 2025-07-28
Second quarter revenue and profitability exceeded guidance, driven by record fiber and SaaS streaming growth, strong rest-of-world performance, and robust customer demand. Guidance for Q3 remains cautious due to tariff and macro uncertainties, but positive momentum and industry tailwinds are expected to drive growth in 2026.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Information Sources:
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