What is Harmonic's EV / EBITDA?

Harmonic (HLIT) reported EV / EBITDA of 12.1× in Q3 2025.

How has Harmonic's EV / EBITDA changed year-over-year?

Harmonic's EV / EBITDA decreased by 72.8% year-over-year, from 44.4× to 12.1×.

What is the long-term trend for Harmonic's EV / EBITDA?

Over 3 years (2021 to 2024), Harmonic's EV / EBITDA has grown at a -20.4% compound annual growth rate (CAGR), from 36× to 18.1×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Harmonic HLIT EV / EBITDA

EV / EBITDA at other companies

Cisco Systems, Inc.CSCO

23.2×+5.9×

CalixCALX

54.3×—

MaxLinearMXL

57.4×+47.3×

CienaCIEN

114.9×+84.7×

CoherentCOHR

18.4×-19.5×

BeldenBDC

12.3×-0.3×

Other financials

Income statement

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Revenue$121.7M+43.4%

Gross profit$63.6M+36.9%

Operating income$20.4M+191%

Net income$7.3M+23.0%

EPS (diluted)$0.07+40.0%

Balance sheet

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Cash & equivalents$109.4M-26.6%

Total debt$131.1M-4.4%

Total equity$355.2M-20.4%

Total assets$705.3M-8.8%

Cash flow

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Operating cash flow$31.7M-62.1%

CapEx$1.4M-25.3%

Free cash flow$30.3M-62.9%

Valuation

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Market cap$1.59B-11.8%

Enterprise value$1.61B-8.9%

P/S4×0.0×

Profitability

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Gross margin49.7%—

Operating margin21.5%—

Net margin-10.4%-22.2pp

FCF margin0%—

Returns & leverage

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Return on equity-10.5%-22.9pp

Debt / equity0.4×+0.1×

Current ratio2.3×+0.2×

Where this comes from

Calculated from Harmonic’s reported figures.

enterprise value/ebitda=12.1×

Based on the most recent quarter.

The official record: Harmonic’s 10-Q, filed November 4, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Harmonic's EV / EBITDA?: Harmonic (HLIT) reported EV / EBITDA of 12.1× in Q3 2025.
How has Harmonic's EV / EBITDA changed year-over-year?: Harmonic's EV / EBITDA decreased by 72.8% year-over-year, from 44.4× to 12.1×.
What is the long-term trend for Harmonic's EV / EBITDA?: Over 3 years (2021 to 2024), Harmonic's EV / EBITDA has grown at a -20.4% compound annual growth rate (CAGR), from 36× to 18.1×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.