What is Harmonic's operating margin?

Harmonic (HLIT) reported operating margin of 21.5% in Q3 2025.

What is the long-term trend for Harmonic's operating margin?

Over 2 years (2021 to 2024), Harmonic's operating margin has grown at a 103.2% compound annual growth rate (CAGR), from 3.7% to 15.3%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Harmonic HLIT Operating margin

Operating margin at other companies

Cisco Systems, Inc.CSCO

23.4%+3.1pp

CalixCALX

3.8%+2.3pp

MaxLinearMXL

-19.3%-7.5pp

CienaCIEN

9.2%+4.5pp

BeldenBDC

11.5%+0.3pp

ViasatVSAT

2.3%+1.6pp

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%—

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.

operating income/total revenue=21.5%

Based on trailing twelve months.

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 operating margin?: Harmonic (HLIT) reported operating margin of 21.5% in Q3 2025.
What is the long-term trend for Harmonic's operating margin?: Over 2 years (2021 to 2024), Harmonic's operating margin has grown at a 103.2% compound annual growth rate (CAGR), from 3.7% to 15.3%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.