What is Harmonic's invested capital?

Harmonic (HLIT) reported invested capital of $376.84M in Q1 2026.

How has Harmonic's invested capital changed year-over-year?

Harmonic's invested capital decreased by 13.2% year-over-year, from $434.23M to $376.84M.

What is the long-term trend for Harmonic's invested capital?

Over 5 years (2020 to 2025), Harmonic's invested capital has grown at a 15.2% compound annual growth rate (CAGR), from $193.1M to $391.97M.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Harmonic HLIT Invested capital

Discontinued — last reported Q1 '26

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3.4%+1.8pp

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-0.3%-0.1pp

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17.5%+14.2pp

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$31.7M-62.1%

CapEx$1.4M-25.3%

Free cash flow$30.3M-62.9%

Valuation

See full

Market cap$1.59B-11.8%

Enterprise value$1.61B-8.9%

P/S4×0.0×

Profitability

See full

Gross margin49.7%—

Operating margin21.5%—

Net margin-10.4%-22.2pp

FCF margin0%—

Returns & leverage

See full

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.

$131.1Mtotal debt+$355.2Mtotal stockholders equity−$109.4Mcash and equivalents=$376.84M

The official record: Harmonic’s 10-Q, filed May 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Harmonic's invested capital?: Harmonic (HLIT) reported invested capital of $376.84M in Q1 2026.
How has Harmonic's invested capital changed year-over-year?: Harmonic's invested capital decreased by 13.2% year-over-year, from $434.23M to $376.84M.
What is the long-term trend for Harmonic's invested capital?: Over 5 years (2020 to 2025), Harmonic's invested capital has grown at a 15.2% compound annual growth rate (CAGR), from $193.1M to $391.97M.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).