HLITHarmonic Inc.
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain and big price swings. Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Reported earnings show no manipulation flags Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Net cash and profitable. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -55% · now 36% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can HLIT take a bad year?
Harmonic Inc. holds $121M more cash than debt, so a bad year is a question about profits, not about lenders.
Net cash
- Net debt / EBITDA
- net cash
Net debt / EBITDA · no net borrowings to measure against earnings
- Altman Z-score
- -0.10
Altman Z-score · distress zone, below 1.8
- Interest cover
- 13.7×
Interest cover · operating profit covers the interest bill several times over
Details›
- Total debtQ2 2026
- $111M
- Cash and short-term investments
- $232M
- Net cash
- $121M
- EBITDA, trailing twelve months
- $55M
- Operating profit, trailing twelve months
- $44M
- Debt / equity
- 0.31×
- Total debt / EBITDA
- 2.01×
- Annualised volatilitytwo years of daily moves
- 52%
- Worst drawdown on file
- −55%
- Below its 52-week high
- 36%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.