Harmonic Inc.
HLITTechnologyNASDAQCommunication Equipment · Last scanned Jul 18, 2026
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Daily timeframeHeadquartered within the technology sector, Harmonic Inc. focuses on Communication Equipment services and products. Harmonic Inc., together with its subsidiaries, provides broadband access solutions worldwide. Valued at $1.31B, HLIT is a small-cap name in its sector. The company provides software-based broadband access solution, including cOS software-based broadband access solutions to broadband operators, an end-to-end solution consisting of virtualized cloud-native software; hardware products include Oyster, Ripple and SeaStar DAA nodes; Reef and Wave PHY shelf products; pebble remote PHY Devices; and fin, pearl and pier OLT modules and devices; and cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
Market Cap
$1.31B
Beta
1.29
P/E (TTM)
150.38
P/E (Fwd)
15.48
EPS (TTM)
$0.08
EPS (Fwd)
$0.78
ROE
2.1%
ROA
2.6%
Cash
$109.0M
Total Debt
$131.1M
Free CF
-$81.9M
52W Change
30.0%
Annual Financials
Cash vs Debt
On the balance sheet, HLIT has $109.0M in cash with $131.1M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. The company is burning cash, with free cash flow at -$81.9M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. ROE of 2.1% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.6% is on the lower side, which is common in asset-heavy industries. Revenue has pulled back from $625.0M (2022) to $360.5M (2025), a 42% decline worth watching.
The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. At over 50x earnings, HLIT carries valuation risk — any slowdown in growth expectations could lead to meaningful price adjustments. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing HLIT.