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Harmonic Inc
NASDAQ:HLIT

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Harmonic Inc Logo
Harmonic Inc
NASDAQ:HLIT
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Price: 13.52 USD 3.36% Market Closed
Updated: Mar 28, 2024

Intrinsic Value

Harmonic, Inc. engages in the development and sale of video delivery software, products, system solutions, and services. [ Read More ]

The intrinsic value of one HLIT stock under the Base Case scenario is 12.22 USD. Compared to the current market price of 13.52 USD, Harmonic Inc is Overvalued by 10%.

Key Points:
HLIT Intrinsic Value
Base Case
12.22 USD
Overvaluation 10%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Harmonic Inc

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Fundamental Analysis

Revenue and Margins Show Promise Amid Growth
2023-Q4 Earnings Call

Revenue and Margins Show Promise Amid Growth

The company's Q4 results signal robust growth, with total revenue up nearly 2%, led by a 20% year-over-year rise in Broadband to a record $115.2 million, offset by a year-over-year gross margin dip in Broadband. Video's gross margin peaked at 64.6%, contributing to Q4's $0.13 EPS. With a focus on future growth, a recent $160 million credit facility was secured, and the company plans to redeem all outstanding 2024 convertible notes in Q2, supporting its growth strategy with adequate liquidity. The full-year guidance projects revenues between $460 million to $500 million, with an expected surge in revenue growth in 2025 stemming from the second half of 2024's momentum.

Financials

Balance Sheet Decomposition
Harmonic Inc

Current Assets 330.7m
Cash & Short-Term Investments 84.3m
Receivables 146.3m
Other Current Assets 100.2m
Non-Current Assets 437.5m
PP&E 57.5m
Intangibles 239.2m
Other Non-Current Assets 140.8m
Current Liabilities 272.4m
Accounts Payable 38.6m
Accrued Liabilities 29.6m
Other Current Liabilities 204.3m
Non-Current Liabilities 58.9m
Long-Term Debt 10.5m
Other Non-Current Liabilities 48.4m
Efficiency

Earnings Waterfall
Harmonic Inc

Revenue
607.9m USD
Cost of Revenue
-294.7m USD
Gross Profit
313.2m USD
Operating Expenses
-289.6m USD
Operating Income
23.7m USD
Other Expenses
60.3m USD
Net Income
84m USD

Free Cash Flow Analysis
Harmonic Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
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Table
What is Free Cash Flow?
Fundamental Scores

HLIT Profitability Score
Profitability Due Diligence

Harmonic Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
ROE is Increasing
ROIC is Increasing
Positive 3-Years Revenue Growth
56/100
Profitability
Score

Harmonic Inc's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

HLIT Solvency Score
Solvency Due Diligence

Harmonic Inc's solvency score is 62/100. The higher the solvency score, the more solvent the company is.

Negative Net Debt
Low D/E
High Interest Coverage
Long-Term Solvency
62/100
Solvency
Score

Harmonic Inc's solvency score is 62/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

HLIT Price Targets Summary
Harmonic Inc

Wall Street analysts forecast HLIT stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for HLIT is 16.32 USD with a low forecast of 14.14 USD and a high forecast of 18.9 USD.

Lowest
Price Target
14.14 USD
5% Upside
Average
Price Target
16.32 USD
21% Upside
Highest
Price Target
18.9 USD
40% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

HLIT Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

HLIT Price
Harmonic Inc

1M 1M
+5%
6M 6M
+43%
1Y 1Y
-3%
3Y 3Y
+77%
5Y 5Y
+146%
10Y 10Y
+98%
Annual Price Range
13.52
52w Low
9.14
52w High
18.39
Price Metrics
Average Annual Return 27.33%
Standard Deviation of Annual Returns 32.04%
Max Drawdown -50%
Shares Statistics
Market Capitalization 1.5B USD
Shares Outstanding 111 909 000
Percentage of Shares Shorted 8.14%

HLIT Return Decomposition
Main factors of price return

What is price return decomposition?

HLIT News

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Company Profile

Harmonic Inc Logo
Harmonic Inc

Country

United States of America

Industry

Communications

Market Cap

1.5B USD

Dividend Yield

0%

Description

Harmonic, Inc. engages in the development and sale of video delivery software, products, system solutions, and services. The company is headquartered in San Jose, California and currently employs 1,267 full-time employees. The firm operates through two segments: video and cable access. The Video business sells video processing and production and playout solutions and services to cable operators and satellite and telecommunications (telco) pay television (TV) service providers. The Cable Access business sells cable access solutions and related services, including its CableOS software-based cable access solution, primarily to cable operators. The company offers a range of services such as broadcast and streaming video services to consumer, devices, including televisions, personal computers, laptops, tablets, and smart phones, and cable access solutions. Its cable access products and solutions include software-based cable access solutions and Narrowcast Services Gateway (NSG) products. The firm also provides technical support and professional services.

Contact

CALIFORNIA
San Jose
2590 Orchard Parkway
+18008285521.0
http://www.harmonicinc.com/

IPO

1995-05-22

Employees

1 267

Officers

President, CEO & Director
Dr. Patrick J. Harshman
Senior Vice President of Global Sales & Video Services
Mr. Ian Graham
Senior Vice President of Video R&D
Mr. Neven Haltmayer
Senior VP & GM of Broadband Business
Mr. Nimrod Ben-Natan
Chief Financial Officer
Mr. Walter F. Jankovic
Senior Vice President of Operations & IT
Mr. Jean-Marc Guiot
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Finance & Investor Relations Manager
Mr. Michael Smiley
General Counsel, Senior VP of Human Resources & Corporate Secretary
Mr. Timothy C. Chu
Senior Vice President of Corporate Marketing & Communications
Ms. Crystele Trevisan-Jallu
Senior Vice President of Corporate Development
Mr. Shahar Bar
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See Also

Discover More
What is the Intrinsic Value of one HLIT stock?

The intrinsic value of one HLIT stock under the Base Case scenario is 12.22 USD.

Is HLIT stock undervalued or overvalued?

Compared to the current market price of 13.52 USD, Harmonic Inc is Overvalued by 10%.