Also trades as: 0J38.L (LSE) · $vol 0M

$15.20

+2.50 (+19.69%)

After Hours: $16.94 (+1.74, +11.41%)

Weekly Expected Move ±7.4%

$11 $12 $13 $13 $14

NASDAQ · Technology · Communication Equipment · Alpha Radar Strong Buy · Power 65 · $1.6B mcap · 107M float · 1.36% daily turnover · Short 39% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

34.0 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 4.6% · 5Y Avg: 8.7%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. HLIT has No discernible competitive edge (34.0/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 4.6% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$15

Low

$16

Avg Target

$18

High

Based on 4 analysts since May 11, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 10Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$15.75

Analysts4

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-12	Northland Securities	Tim Savageaux	$14	$15	+1	+15.3%	$13.01
2026-05-12	Needham	—	$20	$18	-2	+38.2%	$13.02
2026-05-12	Jefferies	Blayne Curtis	$12	$15	+2	+16.9%	$12.83
2026-05-12	Barclays	—	$11	$15	+4	+16.9%	$12.83
2026-02-20	Northland Securities	—	Initiated	$14	—	+23.2%	$11.36
2025-11-05	Barclays	Tim Long	$8	$11	+3	+5.5%	$10.43
2025-07-29	Barclays	Tim Long	$13	$8	-5	-12.5%	$9.14
2024-10-29	Jefferies	George Notter	Initiated	$12	—	+14.1%	$10.96
2024-10-29	Rosenblatt Securities	Steve Frankel	$18	$16	-2	+8.0%	$14.82
2024-04-30	Rosenblatt Securities	Steve Frankel	$17	$18	+1	+67.6%	$10.74
2023-08-01	Needham	Ryan Koontz	$19	$20	+1	+72.0%	$11.63
2023-01-31	Needham	Ryan Koontz	$17	$19	+2	+44.3%	$13.17
2022-09-16	Needham	Ryan Koontz	$17	$17	0	+43.8%	$11.82
2022-09-16	Needham	—	$15	$17	+2	+51.8%	$11.20
2022-08-02	Rosenblatt Securities	—	Initiated	$17	—	+56.7%	$10.85
2022-08-02	Needham	—	Initiated	$15	—	+38.2%	$10.85
2022-05-03	Barclays	—	Initiated	$13	—	+33.5%	$9.74

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

May 22, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. HLIT receives an overall rating of C. Areas of concern: ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5).

Rating Change History

Date	From	To
2026-02-20	B+	C
2026-02-09	B	B+
2026-01-03	B+	B

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 16 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. HLIT scores highest in Balance Sheet (87/100) and lowest in Safety (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

-0.86

Distress Zone

Piotroski F-Score

4/9

✗ ✓ ✗ ✓ ✗ ✓ ✓ ✗ ✗

Beneish M-Score

-3.74

Unlikely Manipulator

Ohlson O-Score

-7.01

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BB-

Score: 39.2/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -1.34x

Accruals: -12.9%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. HLIT scores -0.86, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HLIT scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. HLIT's score of -3.74 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. HLIT's implied 0.1% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HLIT receives an estimated rating of BB- (score: 39.2/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-39.32x

PEG

0.21x

P/S

3.26x

P/B

4.64x

P/FCF

22.39x

P/OCF

18.16x

EV/EBITDA

21.26x

EV/Revenue

2.08x

EV/EBIT

27.14x

EV/FCF

22.92x

Earnings Yield

-4.12%

FCF Yield

4.47%

Shareholder Yield

8.44%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. HLIT currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

-1.220

NI / EBT

Interest Burden

0.896

EBT / EBIT

EBIT Margin

0.077

EBIT / Rev

Asset Turnover

0.661

Rev / Assets

Equity Multiplier

1.785

Assets / Equity

ROE

-9.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HLIT's ROE of -9.9% is driven by Asset Turnover (0.661), indicating efficient use of assets to generate revenue. A tax burden ratio of -1.22 suggests the company retains less than 60% of pre-tax earnings after taxes.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Assessment

Overvalued

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$15.20

Median 1Y

$15.54

5th Pctile

$7.02

95th Pctile

$34.35

Ann. Volatility

48.9%

Analyst Target

$15.75

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Anthony J. Ley Chairman, Former President Chief Executive Officer	$338,060	$—	$1,202,038
Patrick J. Harshman President Chief Executive Officer	$374,616	$—	$842,515
Robin N. Dickson Chief Financial Officer	$330,000	$—	$626,146
Israel Levi President, e President, Operations Quality	$275,000	$—	$542,937
Neven Haltmayer President, dent, Research Development	$210,000	$—	$322,758
Charles Bonasera President, dent, Operations	$32,308	$—	$66,524

CEO Pay Ratio

8:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $1,202,038

Avg Employee Cost (SGA/emp): $154,972

Employees: 534

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

534

-56.9% YoY

Revenue / Employee

$675,137

Rev: $360,523,000

Profit / Employee

$-81,105

NI: $-43,310,000

SGA / Employee

$154,972

Avg labor cost proxy

R&D / Employee

$140,371

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	-0.0%	2.7%	4.8%	6.4%	12.5%	15.1%	9.1%	11.2%	6.9%	2.0%	22.1%	18.6%	14.9%	22.3%	8.7%	11.8%	15.2%	11.0%	-10.2%	-9.9%	-9.89%
ROA	-0.0%	1.2%	2.1%	2.8%	5.4%	6.5%	4.0%	5.0%	3.1%	0.9%	11.4%	9.6%	7.7%	11.5%	5.0%	6.8%	8.8%	6.3%	-5.7%	-5.5%	-5.54%
ROIC	-0.1%	4.1%	7.9%	8.2%	11.0%	12.6%	7.3%	8.9%	6.0%	1.8%	19.1%	0.2%	-3.7%	31.2%	8.3%	11.2%	14.2%	9.7%	3.4%	4.6%	4.61%
ROCE	3.0%	4.6%	4.2%	5.3%	9.0%	10.3%	12.8%	14.9%	12.4%	7.4%	4.4%	0.2%	-4.8%	3.2%	10.4%	13.5%	16.6%	13.2%	5.4%	7.4%	7.37%
Gross Margin	53.3%	52.4%	50.0%	46.9%	52.3%	50.5%	52.1%	53.3%	54.5%	48.5%	49.0%	51.7%	52.9%	53.5%	56.1%	59.0%	53.5%	54.2%	44.4%	52.3%	52.27%
Operating Margin	1.9%	4.3%	9.7%	1.7%	9.6%	7.3%	10.0%	7.1%	6.4%	-6.8%	5.8%	-7.8%	-11.3%	18.1%	23.8%	7.6%	2.8%	6.9%	3.8%	16.8%	16.80%
Net Margin	-1.8%	1.2%	12.7%	-1.0%	9.4%	5.6%	3.7%	3.2%	1.0%	-5.1%	50.2%	-6.6%	-9.0%	11.1%	17.2%	4.5%	2.1%	1.9%	-55.8%	6.0%	6.01%
EBITDA Margin	4.5%	6.6%	11.8%	3.9%	14.2%	9.2%	11.7%	8.8%	8.3%	-4.1%	7.5%	-5.5%	-8.5%	17.5%	27.7%	9.5%	5.0%	9.0%	6.5%	18.9%	18.88%
FCF Margin	8.3%	12.1%	5.5%	0.0%	1.0%	-2.6%	-0.6%	4.7%	-1.1%	2.1%	-0.2%	3.4%	2.4%	1.6%	7.8%	15.9%	17.1%	21.0%	18.9%	9.1%	9.08%
OCF Margin	12.6%	15.6%	8.1%	2.2%	2.9%	-1.1%	0.9%	6.2%	0.1%	3.3%	1.2%	4.8%	4.0%	3.2%	9.1%	17.2%	18.7%	22.7%	21.1%	11.2%	11.20%
ROE 3Y Avg	snapshot only																				5.57%
ROE 5Y Avg	snapshot only																				6.69%
ROA 3Y Avg	snapshot only																				3.36%
ROIC 3Y Avg	snapshot only																				5.68%
ROIC Economic	snapshot only																				3.60%
Cash ROA	snapshot only																				7.80%
Cash ROIC	snapshot only																				13.77%
CROIC	snapshot only																				11.17%
NOPAT Margin	snapshot only																				3.75%
Pretax Margin	snapshot only																				6.87%
R&D / Revenue	snapshot only																				19.40%
SGA / Revenue	snapshot only																				24.33%
SBC / Revenue	snapshot only																				3.00%

Valuation

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	-16979.84	136.63	98.02	54.42	27.01	35.30	54.53	49.36	89.61	171.68	17.96	21.32	23.87	20.02	39.71	21.34	15.69	23.00	-25.80	-24.26	-39.315
P/S Ratio	1.84	1.94	2.56	1.79	1.60	2.40	2.46	2.70	3.04	1.78	2.48	2.64	2.44	2.73	2.29	1.65	1.56	1.80	2.18	2.03	3.259
P/B Ratio	3.22	3.63	4.38	3.27	3.16	4.98	4.74	5.29	5.94	3.32	3.45	3.46	3.10	3.89	3.35	2.44	2.31	2.45	2.92	2.66	4.643
P/FCF	22.14	15.99	46.33	10913.53	152.95	-90.71	-407.17	57.11	-287.86	86.08	-1065.40	77.22	100.48	168.67	29.53	10.37	9.12	8.55	11.53	22.39	22.394
P/OCF	14.67	12.46	31.67	81.92	55.39	—	280.61	43.80	2191.31	53.56	213.71	54.69	61.62	86.55	25.15	9.57	8.34	7.91	10.35	18.16	18.156
EV/EBITDA	32.89	29.94	41.66	27.40	18.14	25.26	26.02	25.56	33.05	28.10	46.36	117.65	-127.01	62.63	20.72	12.22	9.73	12.65	29.49	21.26	21.256
EV/Revenue	2.03	2.12	2.67	1.89	1.69	2.49	2.57	2.82	3.16	1.90	2.60	2.76	2.57	2.84	2.36	1.72	1.63	1.87	2.23	2.08	2.081
EV/EBIT	67.82	49.97	69.55	41.26	23.51	31.72	32.47	30.95	41.41	40.05	72.37	1393.63	-60.15	110.42	24.58	13.91	10.78	14.36	40.93	27.14	27.136
EV/FCF	24.44	17.46	48.35	11551.52	162.21	-94.19	-426.03	59.47	-298.48	91.76	-1116.10	80.89	105.81	175.79	30.42	10.80	9.51	8.90	11.78	22.92	22.916
Earnings Yield	-0.0%	0.7%	1.0%	1.8%	3.7%	2.8%	1.8%	2.0%	1.1%	0.6%	5.6%	4.7%	4.2%	5.0%	2.5%	4.7%	6.4%	4.3%	-3.9%	-4.1%	-4.12%
FCF Yield	4.5%	6.3%	2.2%	0.0%	0.7%	-1.1%	-0.2%	1.8%	-0.3%	1.2%	-0.1%	1.3%	1.0%	0.6%	3.4%	9.6%	11.0%	11.7%	8.7%	4.5%	4.47%
PEG Ratio	snapshot only																				0.208
Price/Tangible Book	snapshot only																				3.157
EV/OCF	snapshot only																				18.580
EV/Gross Profit	snapshot only																				4.035
Acquirers Multiple	snapshot only																				27.474
Shareholder Yield	snapshot only																				8.44%

Leverage & Solvency

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	1.62	1.62	1.44	1.44	1.44	1.44	1.07	1.07	1.07	1.07	1.21	1.21	1.21	1.21	2.18	2.18	2.18	2.18	2.50	2.50	2.497
Quick Ratio	1.38	1.38	1.12	1.12	1.12	1.12	0.70	0.70	0.70	0.70	0.91	0.91	0.91	0.91	1.80	1.80	1.80	1.80	2.26	2.26	2.256
Debt/Equity	0.72	0.72	0.64	0.64	0.64	0.64	0.50	0.50	0.50	0.50	0.36	0.36	0.36	0.36	0.32	0.32	0.32	0.32	0.39	0.39	0.386
Net Debt/Equity	0.33	0.33	0.19	0.19	0.19	0.19	0.22	0.22	0.22	0.22	0.16	0.16	0.16	0.16	0.10	0.10	0.10	0.10	0.06	0.06	0.062
Debt/Assets	0.31	0.31	0.27	0.27	0.27	0.27	0.23	0.23	0.23	0.23	0.20	0.20	0.20	0.20	0.19	0.19	0.19	0.19	0.21	0.21	0.206
Debt/EBITDA	6.62	5.40	5.84	5.07	3.47	3.13	2.60	2.30	2.66	3.93	4.58	11.61	-13.90	5.51	1.92	1.53	1.28	1.58	3.82	3.02	3.018
Net Debt/EBITDA	3.09	2.52	1.74	1.51	1.04	0.93	1.15	1.02	1.18	1.74	2.11	5.34	-6.39	2.54	0.61	0.48	0.41	0.50	0.61	0.48	0.485
Interest Coverage	1.26	1.92	1.83	2.64	5.14	7.10	9.83	13.40	12.98	9.40	8.10	0.42	-7.10	2.97	8.91	10.53	13.19	12.92	6.47	9.81	9.808
Equity Multiplier	2.29	2.29	2.34	2.34	2.34	2.34	2.19	2.19	2.19	2.19	1.76	1.76	1.76	1.76	1.71	1.71	1.71	1.71	1.87	1.87	1.875
Cash Ratio	snapshot only																				0.627
Debt Service Coverage	snapshot only																				12.521
Cash to Debt	snapshot only																				0.839
FCF to Debt	snapshot only																				0.307
Defensive Interval	snapshot only																				348.1 days

Efficiency & Turnover

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	0.77	0.82	0.79	0.85	0.91	0.96	0.89	0.90	0.90	0.86	0.82	0.77	0.75	0.84	0.87	0.88	0.88	0.81	0.68	0.66	0.661
Inventory Turnover	6.72	7.16	4.66	5.07	5.49	5.80	3.22	3.17	3.13	3.01	2.88	2.74	2.68	2.93	4.23	4.17	4.15	3.81	4.27	4.33	4.331
Receivables Turnover	5.06	5.41	6.16	6.60	7.13	7.49	6.17	6.27	6.26	5.98	4.76	4.48	4.34	4.88	4.25	4.32	4.31	3.98	3.88	3.79	3.791
Payables Turnover	6.68	7.12	5.62	6.12	6.62	7.01	4.69	4.62	4.56	4.38	5.57	5.30	5.19	5.67	8.48	8.36	8.33	7.63	8.18	8.30	8.303
DSO	72	67	59	55	51	49	59	58	58	61	77	81	84	75	86	85	85	92	94	96	96.3 days
DIO	54	51	78	72	67	63	113	115	117	121	127	133	136	124	86	88	88	96	86	84	84.3 days
DPO	55	51	65	60	55	52	78	79	80	83	66	69	70	64	43	44	44	48	45	44	44.0 days
Cash Conversion Cycle	72	67	73	68	63	60	95	94	95	99	138	146	150	135	129	128	129	140	135	137	136.6 days
Fixed Asset Turnover	snapshot only																				12.720
Operating Cycle	snapshot only																				180.5 days
Cash Velocity	snapshot only																				4.032
Capital Intensity	snapshot only																				1.436

Growth (YoY)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	15.7%	30.7%	33.9%	31.8%	30.0%	27.7%	23.2%	17.0%	8.0%	-1.8%	-2.7%	-9.9%	-12.4%	3.1%	11.6%	20.5%	24.1%	1.9%	-24.6%	-27.5%	-27.47%
Net Income	99.8%	1.2%	1.5%	2.3%	709.1%	5.1%	1.1%	95.0%	-38.0%	-85.0%	2.0%	1.0%	1.6%	12.5%	-53.3%	-24.8%	21.0%	-41.6%	-2.1%	-1.8%	-1.79%
EPS	99.8%	1.2%	1.4%	2.3%	658.7%	4.7%	1.0%	72.2%	-43.3%	-84.9%	2.0%	1.1%	1.7%	11.9%	-54.1%	-27.8%	22.7%	-39.5%	-2.2%	-1.8%	-1.83%
FCF	3.3%	16.4%	3.0%	-99.7%	-83.7%	-1.3%	-1.1%	337.0%	-2.1%	1.8%	62.5%	-35.0%	3.0%	-19.6%	38.2%	4.6%	7.8%	12.2%	83.8%	-58.5%	-58.52%
EBITDA	46.3%	5.6%	31.6%	1.4%	96.3%	77.8%	89.8%	86.6%	10.4%	-32.7%	-44.8%	-80.8%	-1.2%	-30.9%	1.3%	6.2%	11.3%	2.3%	-50.0%	-49.4%	-49.39%
Op. Income	7.1%	1.9%	2.5%	13.3%	1.8%	1.2%	1.4%	1.2%	28.6%	-34.3%	-51.3%	-97.3%	-1.5%	-31.4%	1.8%	55.5%	5.2%	2.9%	-56.3%	-54.2%	-54.21%
OCF Growth	snapshot only																				-52.78%
Asset Growth	snapshot only																				-9.80%
Equity Growth	snapshot only																				-17.63%
Debt Growth	snapshot only																				-0.32%
Shares Change	snapshot only																				-5.47%

Growth (CAGR)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	5.7%	7.3%	7.9%	11.3%	15.7%	16.1%	15.8%	16.6%	17.5%	17.9%	17.1%	11.6%	7.1%	8.9%	10.2%	8.3%	5.5%	1.0%	-6.4%	-7.6%	-7.65%
Revenue 5Y	4.6%	4.9%	4.6%	5.9%	9.1%	10.7%	11.8%	11.7%	10.6%	9.1%	8.5%	7.8%	7.9%	9.6%	11.0%	11.4%	12.0%	11.5%	6.2%	4.0%	3.96%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	1.2%	40.6%	38.4%	23.9%	5.8%	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	1.3%	43.6%	44.0%	25.5%	5.8%	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	3.7%	25.8%	30.5%	1.0%	21.1%	23.1%	44.7%	46.9%	—	2.2%	-4.8%	—	-6.1%	33.5%	37.2%	28.2%	15.6%	-14.4%	-11.2%	-11.21%
EBITDA 5Y	—	—	—	—	—	—	—	—	—	1.6%	15.8%	-4.4%	—	-3.7%	18.5%	33.2%	43.3%	—	1.1%	25.8%	25.78%
Gross Profit 3Y	6.7%	8.7%	7.5%	10.3%	14.6%	11.6%	12.3%	14.9%	16.3%	19.6%	17.0%	11.0%	5.9%	8.4%	12.1%	11.7%	8.9%	4.7%	-4.7%	-7.9%	-7.93%
Gross Profit 5Y	5.0%	5.9%	5.3%	6.4%	10.0%	11.5%	13.2%	13.4%	11.4%	9.9%	8.4%	7.4%	7.4%	7.8%	10.4%	11.8%	12.5%	13.9%	7.0%	3.9%	3.88%
Op. Income 3Y	—	—	—	—	—	47.7%	51.5%	1.5%	2.1%	—	—	-5.8%	—	-0.9%	49.7%	48.7%	38.9%	20.2%	-15.4%	-11.2%	-11.22%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	7.8%	37.0%	88.9%	1.3%	—	—	84.9%	84.86%
FCF 3Y	—	97.0%	74.9%	-82.3%	—	—	—	—	—	—	—	-10.5%	-29.0%	-44.4%	23.4%	9.7%	1.7%	—	—	14.7%	14.74%
FCF 5Y	—	—	—	—	—	—	—	—	—	10.3%	—	3.9%	—	86.7%	20.3%	—	68.5%	—	69.3%	10.8%	10.77%
OCF 3Y	1.5%	72.3%	49.5%	-20.0%	56.8%	—	-44.1%	34.7%	-71.2%	-10.1%	-43.5%	-19.0%	-27.1%	-36.1%	14.7%	1.2%	96.9%	—	1.7%	12.6%	12.63%
OCF 5Y	—	—	1.5%	33.9%	8.3%	—	12.3%	—	-25.0%	6.5%	-10.5%	3.6%	38.0%	20.4%	14.6%	49.2%	28.5%	39.1%	22.5%	1.6%	1.56%
Assets 3Y	5.2%	5.2%	10.7%	10.7%	10.7%	10.7%	6.5%	6.5%	6.5%	6.5%	9.1%	9.1%	9.1%	9.1%	4.7%	4.7%	4.7%	4.7%	0.4%	0.4%	0.40%
Assets 5Y	2.4%	2.4%	4.6%	4.6%	4.6%	4.6%	6.9%	6.9%	6.9%	6.9%	8.5%	8.5%	8.5%	8.5%	6.3%	6.3%	6.3%	6.3%	4.0%	4.0%	3.97%
Equity 3Y	5.8%	5.8%	9.1%	9.1%	9.1%	9.1%	8.7%	8.7%	8.7%	8.7%	19.1%	19.1%	19.1%	19.1%	16.2%	16.2%	16.2%	16.2%	5.7%	5.7%	5.70%
Book Value 3Y	-0.1%	-1.4%	1.6%	3.3%	2.0%	3.9%	2.2%	1.4%	1.4%	3.8%	13.6%	14.6%	14.2%	15.3%	13.7%	11.7%	14.6%	16.1%	7.0%	7.9%	7.93%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	0.69	0.36	0.25	0.42	0.64	0.65	0.74	0.81	0.83	0.76	0.75	0.75	0.72	0.87	0.93	0.85	0.74	0.73	0.30	0.20	0.204
Earnings Stability	0.81	0.72	0.74	0.87	0.96	0.81	0.76	0.88	0.90	0.53	0.75	0.89	0.90	0.63	0.63	0.88	0.91	0.63	0.01	0.00	0.000
Margin Stability	0.97	0.95	0.96	0.96	0.96	0.94	0.94	0.96	0.97	0.98	0.99	0.99	0.98	0.96	0.96	0.96	0.96	0.96	0.97	0.97	0.967
Rev. Growth Consistency	1.00	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	0.00	0.00	0.000
Earn. Growth Consistency	1.00	0.50	0.50	1.00	1.00	1.00	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.50	0.00	0.00	1.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	0	1	1	1	0	0	1	0	0	0	1	0	1	0	1	1	1	1	1	1
Earnings Persistence	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.90	0.92	0.83	0.20	0.20	0.200
Earnings Smoothness	—	—	—	—	—	0.00	0.28	0.36	0.53	0.00	0.00	0.32	0.10	0.00	0.27	0.72	0.81	0.48	—	—	—
ROE Trend	0.10	0.12	0.11	0.12	0.16	0.20	0.12	0.10	0.01	-0.06	0.13	0.08	0.04	0.11	-0.06	-0.02	0.05	-0.00	-0.25	-0.25	-0.248
Gross Margin Trend	-0.01	-0.01	-0.02	-0.03	-0.03	-0.01	-0.01	0.01	0.01	0.01	0.01	-0.00	-0.01	0.01	0.03	0.04	0.04	0.04	0.01	-0.02	-0.015
FCF Margin Trend	0.08	0.13	0.02	-0.03	-0.04	-0.08	-0.04	0.01	-0.06	-0.03	-0.03	0.01	0.02	0.02	0.08	0.12	0.16	0.19	0.15	-0.01	-0.006
Sustainable Growth Rate	—	2.7%	4.8%	6.4%	12.5%	15.1%	9.1%	11.2%	6.9%	2.0%	22.1%	18.6%	14.9%	22.3%	8.7%	11.8%	15.2%	11.0%	—	—	—
Internal Growth Rate	—	1.2%	2.1%	2.9%	5.7%	7.0%	4.2%	5.2%	3.2%	0.9%	12.8%	10.6%	8.3%	13.0%	5.3%	7.3%	9.6%	6.8%	—	—	—

Cash Flow Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	-1157.39	10.96	3.09	0.66	0.49	-0.16	0.19	1.13	0.04	3.21	0.08	0.39	0.39	0.23	1.58	2.23	1.88	2.91	-2.49	-1.34	-1.336
FCF/OCF	0.66	0.78	0.68	0.01	0.36	2.50	-0.69	0.77	-7.61	0.62	-0.20	0.71	0.61	0.51	0.85	0.92	0.91	0.93	0.90	0.81	0.811
FCF/Net Income	snapshot only																				-1.084
OCF/EBITDA	snapshot only																				1.144
CapEx/Revenue	4.2%	3.4%	2.6%	2.2%	1.8%	1.6%	1.5%	1.4%	1.2%	1.3%	1.4%	1.4%	1.5%	1.5%	1.4%	1.3%	1.6%	1.7%	2.2%	2.1%	2.12%
CapEx/Depreciation	snapshot only																				0.999
Accruals Ratio	-0.10	-0.12	-0.04	0.01	0.03	0.08	0.03	-0.01	0.03	-0.02	0.10	0.06	0.05	0.09	-0.03	-0.08	-0.08	-0.12	-0.20	-0.13	-0.129
Sloan Accruals	snapshot only																				0.115
Cash Flow Adequacy	snapshot only																				5.284

Dividends & Buybacks

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	—	0.0%	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	—	0.0%	0.0%	12.0%	14.4%	12.2%	18.2%	8.6%	0.6%	0.0%	0.0%	30.6%	53.0%	35.4%	78.2%	84.7%	73.9%	1.3%	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.2%	0.5%	0.3%	0.3%	0.2%	0.0%	0.0%	0.0%	1.4%	2.2%	1.8%	2.0%	4.0%	4.7%	5.8%	7.1%	8.4%	8.44%
Net Buyback Yield	-1.4%	-1.2%	-0.9%	-0.8%	-0.5%	-0.1%	-0.1%	-0.2%	-0.2%	-0.7%	-0.4%	1.0%	1.7%	1.4%	1.5%	3.4%	4.1%	5.3%	6.5%	7.8%	7.85%
Total Shareholder Return	-1.4%	-1.2%	-0.9%	-0.8%	-0.5%	-0.1%	-0.1%	-0.2%	-0.2%	-0.7%	-0.4%	1.0%	1.7%	1.4%	1.5%	3.4%	4.1%	5.3%	6.5%	7.8%	7.85%

DuPont Factors

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	-0.02	0.70	1.49	1.15	1.02	1.01	0.63	0.65	0.48	0.24	4.39	-44.87	-2.10	7.98	0.68	0.69	0.71	0.65	-1.84	-1.22	-1.220
Interest Burden (EBT/EBIT)	0.20	0.48	0.46	0.62	0.81	0.86	0.90	0.93	0.92	0.89	0.88	-1.39	1.14	0.66	0.89	0.91	0.92	0.92	0.84	0.90	0.896
EBIT Margin	0.03	0.04	0.04	0.05	0.07	0.08	0.08	0.09	0.08	0.05	0.04	0.00	-0.04	0.03	0.10	0.12	0.15	0.13	0.05	0.08	0.077
Asset Turnover	0.77	0.82	0.79	0.85	0.91	0.96	0.89	0.90	0.90	0.86	0.82	0.77	0.75	0.84	0.87	0.88	0.88	0.81	0.68	0.66	0.661
Equity Multiplier	2.31	2.31	2.32	2.32	2.32	2.32	2.26	2.26	2.26	2.26	1.94	1.94	1.94	1.94	1.73	1.73	1.73	1.73	1.79	1.79	1.785

Per Share

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$-0.00	$0.06	$0.12	$0.17	$0.32	$0.37	$0.24	$0.30	$0.18	$0.06	$0.73	$0.63	$0.49	$0.72	$0.33	$0.46	$0.60	$0.44	$-0.38	$-0.38	$-0.38
Book Value/Share	$2.55	$2.43	$2.69	$2.85	$2.72	$2.62	$2.77	$2.76	$2.72	$2.90	$3.78	$3.89	$3.80	$3.72	$3.95	$3.98	$4.10	$4.11	$3.39	$3.46	$3.24
Tangible Book/Share	$0.14	$0.14	$0.51	$0.54	$0.52	$0.50	$0.74	$0.74	$0.73	$0.77	$1.71	$1.76	$1.72	$1.68	$1.94	$1.95	$2.01	$2.02	$2.85	$2.91	$2.91
Revenue/Share	$4.46	$4.54	$4.59	$5.22	$5.39	$5.45	$5.33	$5.39	$5.31	$5.40	$5.25	$5.09	$4.83	$5.31	$5.77	$5.89	$6.07	$5.61	$4.53	$4.52	$4.56
FCF/Share	$0.37	$0.55	$0.25	$0.00	$0.06	$-0.14	$-0.03	$0.26	$-0.06	$0.11	$-0.01	$0.17	$0.12	$0.09	$0.45	$0.94	$1.04	$1.18	$0.86	$0.41	$0.41
OCF/Share	$0.56	$0.71	$0.37	$0.11	$0.16	$-0.06	$0.05	$0.33	$0.01	$0.18	$0.06	$0.25	$0.19	$0.17	$0.53	$1.01	$1.14	$1.27	$0.96	$0.51	$0.51
Cash/Share	$0.97	$0.93	$1.21	$1.28	$1.22	$1.18	$0.76	$0.76	$0.75	$0.80	$0.73	$0.75	$0.73	$0.72	$0.86	$0.87	$0.89	$0.90	$1.10	$1.12	$0.99
EBITDA/Share	$0.28	$0.32	$0.29	$0.36	$0.50	$0.54	$0.53	$0.59	$0.51	$0.37	$0.29	$0.12	$-0.10	$0.24	$0.66	$0.83	$1.02	$0.83	$0.34	$0.44	$0.44
Debt/Share	$1.83	$1.74	$1.72	$1.83	$1.75	$1.68	$1.37	$1.37	$1.35	$1.44	$1.35	$1.39	$1.36	$1.33	$1.26	$1.27	$1.31	$1.31	$1.31	$1.34	$1.34
Net Debt/Share	$0.85	$0.81	$0.51	$0.55	$0.52	$0.50	$0.61	$0.60	$0.60	$0.64	$0.62	$0.64	$0.62	$0.61	$0.40	$0.40	$0.41	$0.41	$0.21	$0.21	$0.21

Academic Models

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-0.857
Altman Z-Prime	snapshot only																				-3.168
Piotroski F-Score	7	8	6	5	5	4	6	7	5	5	6	6	6	6	7	7	9	8	4	4	4
Beneish M-Score	-2.92	-3.13	-2.37	-2.12	-2.04	-1.87	-2.19	-2.41	-2.23	-2.36	-1.65	-1.75	-1.86	-1.64	-2.38	-2.69	-2.60	-2.70	-4.05	-3.74	-3.741
Ohlson O-Score	snapshot only																				-7.013
ROIC (Greenblatt)	snapshot only																				11.43%
Net-Net WC	snapshot only																				$1.44
EVA	snapshot only																				$-21942981.14

Credit

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																				BB-
Credit Score	26.48	31.03	26.90	26.49	36.92	37.95	38.04	44.07	44.48	38.36	41.52	20.95	25.53	33.31	58.45	62.39	62.69	61.88	49.24	39.23	39.235
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				-23.150
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				0
Sector Credit Rank	snapshot only																				0

HLIT NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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