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Harmonic HLIT Return on invested capital

Return on invested capital at other companies

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16.8%+1.6pp
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6.3%+4.4pp
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-14.2%-5.1pp
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15%+10.9pp
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12.2%+0.5pp
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23.7%+1.1pp

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$1.26B+26.4%
Enterprise value$1.28B+27.5%
P/S3.1×+0.9×

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.

Based on trailing twelve months.

The source filing: Harmonic’s 10-Q, filed November 4, 2025. Open the filing →

Filed
Nov 4, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001193125-25-264696

FAQ

What is Harmonic's return on invested capital?
Harmonic (HLIT) reported return on invested capital of 11.8% in Q3 2025.
How has Harmonic's return on invested capital changed year-over-year?
Harmonic's return on invested capital increased by 95.3% year-over-year, from 6.1% to 11.8%.
What is the long-term trend for Harmonic's return on invested capital?
Over 3 years (2021 to 2024), Harmonic's return on invested capital has grown at a 6.6% compound annual growth rate (CAGR), from 8.8% to 10.6%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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