Harmonic Inc.

NasdaqGS:HLIT Stock Report

Market Cap: US$1.2b

Harmonic Valuation

Is HLIT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of HLIT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: HLIT ($10.29) is trading below our estimate of future cash flow value ($28.84)

Significantly Below Future Cash Flow Value: HLIT is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HLIT?

Key metric: As HLIT is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HLIT. This is calculated by dividing HLIT's market cap by their current revenue.
What is HLIT's PS Ratio?
PS Ratio3.2x
SalesUS$360.52m
Market CapUS$1.21b

Price to Sales Ratio vs Peers

How does HLIT's PS Ratio compare to its peers?

The above table shows the PS ratio for HLIT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.3x
ITRN Ituran Location and Control
2.7x7.57%US$970.0m
ADTN ADTRAN Holdings
0.8x7.93%US$804.1m
EXTR Extreme Networks
1.5x7.39%US$1.9b
DGII Digi International
4x8.90%US$1.9b
HLIT Harmonic
3.2x0.43%US$1.2b

Price-To-Sales vs Peers: HLIT is expensive based on its Price-To-Sales Ratio (3.2x) compared to the peer average (2.3x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does HLIT's PS Ratio compare vs other companies in the US Communications Industry?

13 CompaniesPrice / SalesEstimated GrowthMarket Cap
RBBN Ribbon Communications
0.4x3.01%US$367.43m
CMTL Comtech Telecommunications
0.3x-2.76%US$165.11m
TESS TESSCO Technologies
0.2xn/aUS$83.30m
CMBM Cambium Networks
0.2xn/aUS$33.61m
HLIT 3.2xIndustry Avg. 1.9xNo. of Companies14PS0246810+
13 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HLIT is expensive based on its Price-To-Sales Ratio (3.2x) compared to the US Communications industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is HLIT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HLIT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio1.8x

Price-To-Sales vs Fair Ratio: HLIT is expensive based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (1.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HLIT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$10.29
US$12.71
+23.56%
23.68%US$17.00US$8.00n/a7
Feb ’27US$9.72
US$11.79
+21.25%
18.68%US$15.00US$8.00n/a7
Jan ’27US$9.89
US$11.79
+19.17%
18.68%US$15.00US$8.00n/a7
Dec ’26US$9.41
US$11.79
+25.25%
18.68%US$15.00US$8.00n/a7
Nov ’26US$10.70
US$10.50
-1.87%
24.28%US$14.00US$7.00n/a7
Oct ’26US$10.60
US$10.50
-0.94%
24.28%US$14.00US$7.00n/a7
Sep ’26US$9.62
US$10.07
+4.69%
21.30%US$12.50US$7.00n/a7
Aug ’26US$8.35
US$10.07
+20.62%
21.30%US$12.50US$7.00n/a7
Jul ’26US$9.82
US$11.58
+17.96%
12.31%US$14.00US$10.00n/a6
Jun ’26US$9.02
US$11.58
+28.42%
12.31%US$14.00US$10.00n/a6
May ’26US$9.02
US$11.58
+28.42%
12.31%US$14.00US$10.00n/a6
Apr ’26US$9.54
US$11.75
+23.17%
11.97%US$14.00US$10.00n/a6
Mar ’26US$10.31
US$11.75
+13.97%
11.97%US$14.00US$10.00n/a6
Feb ’26US$11.28
US$14.50
+28.55%
12.09%US$18.00US$12.50US$9.727
Jan ’26US$13.23
US$14.93
+12.84%
12.96%US$18.00US$12.50US$9.897
Dec ’25US$12.82
US$14.93
+16.45%
12.96%US$18.00US$12.50US$9.417
Nov ’25US$10.96
US$14.93
+36.21%
12.96%US$18.00US$12.50US$10.707
Oct ’25US$13.95
US$16.57
+18.79%
13.63%US$20.00US$13.00US$10.607
Sep ’25US$14.45
US$16.57
+14.68%
13.63%US$20.00US$13.00US$9.627
Aug ’25US$14.50
US$16.57
+14.29%
13.63%US$20.00US$13.00US$8.357
Jul ’25US$11.87
US$15.57
+31.18%
11.82%US$18.00US$13.00US$9.827
Jun ’25US$12.23
US$15.57
+27.32%
11.82%US$18.00US$13.00US$9.027
May ’25US$11.09
US$16.00
+44.27%
10.21%US$18.00US$14.00US$9.026
Apr ’25US$13.06
US$16.00
+22.51%
10.21%US$18.00US$14.00US$9.546
Mar ’25US$13.37
US$16.00
+19.67%
10.21%US$18.00US$14.00US$10.316
Feb ’25US$12.59
US$16.00
+27.08%
10.21%US$18.00US$14.00US$11.286
US$12.71
Fair Value
19.1% undervalued intrinsic discount
7
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/23 14:07
End of Day Share Price 2026/02/23 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Harmonic Inc. is covered by 18 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amir RozwadowskiBarclays
Timothy LongBarclays
Tal LianiBofA Global Research