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Harmonic Valuation Multiples

Discover revenue and EBITDA valuation multiples for Harmonic and similar public comparables like Agora, Audioboom Group, and Zoo Digital Group.

Harmonic Overview

About Harmonic

Harmonic Inc engaged in broadband access solutions that enable broadband operators to more efficiently and effectively deploy high-speed internet for data, voice, and video services for their customers and versatile and high-performance video delivery software, products, system solutions and services that enable its customers to efficiently create, prepare, store, playout and deliver a full range of high-quality broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smartphones. It has two segments, Broadband which provides broadband access solutions and related services, and Others; and Video business provides video processing and production and playout solutions and services, and Others.


Founded

1988

HQ

United States of America
Employees

1.2K+

Website

harmonicinc.com

Financials

LTM Revenue $648M

LTM EBITDA $114M

EV

$1.0B

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Harmonic Financials

Harmonic has a last 12-month revenue (LTM) of $648M and a last 12-month EBITDA of $114M.

In the most recent fiscal year, Harmonic achieved revenue of $679M and an EBITDA of $77.4M.

Harmonic expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Harmonic P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $648M XXX $679M XXX XXX XXX
Gross Profit $351M XXX $366M XXX XXX XXX
Gross Margin 54% XXX 54% XXX XXX XXX
EBITDA $114M XXX $77.4M XXX XXX XXX
EBITDA Margin 18% XXX 11% XXX XXX XXX
EBIT $105M XXX $91.8M XXX XXX XXX
EBIT Margin 16% XXX 14% XXX XXX XXX
Net Profit $78.0M XXX $39.2M XXX XXX XXX
Net Margin 12% XXX 6% XXX XXX XXX
Net Debt XXX XXX $26.5M XXX XXX XXX

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Harmonic Stock Performance

As of May 30, 2025, Harmonic's stock price is $9.

Harmonic has current market cap of $1.0B, and EV of $1.0B.

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Harmonic Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.0B $1.0B XXX XXX XXX XXX $0.66

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Harmonic Valuation Multiples

As of May 30, 2025, Harmonic has market cap of $1.0B and EV of $1.0B.

Harmonic's trades at 1.5x EV/Revenue multiple, and 13.2x EV/EBITDA.

Equity research analysts estimate Harmonic's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Harmonic has a P/E ratio of 13.1x.

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Harmonic Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.0B XXX $1.0B XXX XXX XXX
EV (current) $1.0B XXX $1.0B XXX XXX XXX
EV/Revenue 1.6x XXX 1.5x XXX XXX XXX
EV/EBITDA 9.0x XXX 13.2x XXX XXX XXX
EV/EBIT 9.7x XXX 11.1x XXX XXX XXX
EV/Gross Profit 2.9x XXX n/a XXX XXX XXX
P/E 13.1x XXX 26.0x XXX XXX XXX
EV/FCF 15.4x XXX 19.3x XXX XXX XXX

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Harmonic Margins & Growth Rates

Harmonic's last 12 month revenue growth is 1%

Harmonic's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.

Harmonic's rule of 40 is 7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Harmonic's rule of X is 21% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Harmonic Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 1% XXX 4% XXX XXX XXX
EBITDA Margin 18% XXX 11% XXX XXX XXX
EBITDA Growth -8% XXX 56% XXX XXX XXX
Rule of 40 7% XXX 13% XXX XXX XXX
Bessemer Rule of X XXX XXX 21% XXX XXX XXX
Revenue per Employee XXX XXX $0.5M XXX XXX XXX
Opex per Employee XXX XXX $0.2M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 18% XXX XXX XXX
Opex to Revenue XXX XXX 40% XXX XXX XXX

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Harmonic Public Comps

See public comps and valuation multiples for Video & Streaming Software and Networking Hardware comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
EVS Broadcast Equipment XXX XXX XXX XXX XXX XXX
Blackbird XXX XXX XXX XXX XXX XXX
Audioboom Group XXX XXX XXX XXX XXX XXX
Zoo Digital Group XXX XXX XXX XXX XXX XXX
Agora XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Harmonic M&A and Investment Activity

Harmonic acquired  XXX companies to date.

Last acquisition by Harmonic was  XXXXXXXX, XXXXX XXXXX XXXXXX . Harmonic acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Harmonic

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Harmonic

When was Harmonic founded? Harmonic was founded in 1988.
Where is Harmonic headquartered? Harmonic is headquartered in United States of America.
How many employees does Harmonic have? As of today, Harmonic has 1.2K+ employees.
Who is the CEO of Harmonic? Harmonic's CEO is Mr. Nimrod Ben-Natan.
Is Harmonic publicy listed? Yes, Harmonic is a public company listed on NAS.
What is the stock symbol of Harmonic? Harmonic trades under HLIT ticker.
When did Harmonic go public? Harmonic went public in 1995.
Who are competitors of Harmonic? Similar companies to Harmonic include e.g. EVS Broadcast Equipment, Blackbird, Audioboom Group, Zoo Digital Group.
What is the current market cap of Harmonic? Harmonic's current market cap is $1.0B
What is the current revenue of Harmonic? Harmonic's last 12 months revenue is $648M.
What is the current revenue growth of Harmonic? Harmonic revenue growth (NTM/LTM) is 1%.
What is the current EV/Revenue multiple of Harmonic? Current revenue multiple of Harmonic is 1.6x.
Is Harmonic profitable? Yes, Harmonic is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Harmonic? Harmonic's last 12 months EBITDA is $114M.
What is Harmonic's EBITDA margin? Harmonic's last 12 months EBITDA margin is 18%.
What is the current EV/EBITDA multiple of Harmonic? Current EBITDA multiple of Harmonic is 9.0x.
What is the current FCF of Harmonic? Harmonic's last 12 months FCF is $66.4M.
What is Harmonic's FCF margin? Harmonic's last 12 months FCF margin is 10%.
What is the current EV/FCF multiple of Harmonic? Current FCF multiple of Harmonic is 15.4x.

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