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HARVARD BIOSCIENCE INC (HBIO) Stock Fundamental Analysis

NASDAQ:HBIO - Nasdaq - US4169061052 - Common Stock - Currency: USD

0.5317  +0.04 (+9%)

After market: 0.5222 -0.01 (-1.79%)

Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to HBIO. HBIO was compared to 55 industry peers in the Life Sciences Tools & Services industry. HBIO may be in some trouble as it scores bad on both profitability and health. HBIO has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year HBIO was profitable.
In the past year HBIO had a positive cash flow from operations.
In the past 5 years HBIO always reported negative net income.
Each year in the past 5 years HBIO had a positive operating cash flow.
HBIO Yearly Net Income VS EBIT VS OCF VS FCFHBIO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M

1.2 Ratios

With a Return On Assets value of -72.74%, HBIO is not doing good in the industry: 87.27% of the companies in the same industry are doing better.
HBIO has a worse Return On Equity (-391.31%) than 87.27% of its industry peers.
Industry RankSector Rank
ROA -72.74%
ROE -391.31%
ROIC N/A
ROA(3y)-6.27%
ROA(5y)-4.8%
ROE(3y)-12.47%
ROE(5y)-9.59%
ROIC(3y)N/A
ROIC(5y)N/A
HBIO Yearly ROA, ROE, ROICHBIO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -5 -10 -15 -20

1.3 Margins

HBIO has a better Gross Margin (57.09%) than 70.91% of its industry peers.
HBIO's Gross Margin has been stable in the last couple of years.
The Profit Margin and Operating Margin are not available for HBIO so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 57.09%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.96%
HBIO Yearly Profit, Operating, Gross MarginsHBIO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

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3

2. Health

2.1 Basic Checks

HBIO does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for HBIO has been increased compared to 1 year ago.
HBIO has more shares outstanding than it did 5 years ago.
The debt/assets ratio for HBIO is higher compared to a year ago.
HBIO Yearly Shares OutstandingHBIO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
HBIO Yearly Total Debt VS Total AssetsHBIO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

HBIO has an Altman-Z score of -2.67. This is a bad value and indicates that HBIO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -2.67, HBIO is doing worse than 85.45% of the companies in the same industry.
HBIO has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -2.67
ROIC/WACCN/A
WACC10.47%
HBIO Yearly LT Debt VS Equity VS FCFHBIO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M 80M

2.3 Liquidity

A Current Ratio of 0.81 indicates that HBIO may have some problems paying its short term obligations.
With a Current ratio value of 0.81, HBIO is not doing good in the industry: 90.91% of the companies in the same industry are doing better.
A Quick Ratio of 0.40 indicates that HBIO may have some problems paying its short term obligations.
HBIO has a worse Quick ratio (0.40) than 98.18% of its industry peers.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.4
HBIO Yearly Current Assets VS Current LiabilitesHBIO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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3

3. Growth

3.1 Past

HBIO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -72.73%.
Measured over the past years, HBIO shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -19.73% on average per year.
The Revenue for HBIO has decreased by -14.41% in the past year. This is quite bad
Measured over the past years, HBIO shows a decrease in Revenue. The Revenue has been decreasing by -4.12% on average per year.
EPS 1Y (TTM)-72.73%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%-150%
Revenue 1Y (TTM)-14.41%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-11.17%

3.2 Future

HBIO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.21% yearly.
Based on estimates for the next years, HBIO will show a small growth in Revenue. The Revenue will grow by 1.01% on average per year.
EPS Next Y-23.5%
EPS Next 2Y20.21%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-7.04%
Revenue Next 2Y1.01%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
HBIO Yearly Revenue VS EstimatesHBIO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
HBIO Yearly EPS VS EstimatesHBIO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.05 0.1 0.15 0.2 0.25

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 17.72, the valuation of HBIO can be described as rather expensive.
Based on the Price/Earnings ratio, HBIO is valued cheaply inside the industry as 87.27% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.35, HBIO is valued a bit cheaper.
The Price/Forward Earnings ratio is 6.13, which indicates a rather cheap valuation of HBIO.
100.00% of the companies in the same industry are more expensive than HBIO, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of HBIO to the average of the S&P500 Index (22.19), we can say HBIO is valued rather cheaply.
Industry RankSector Rank
PE 17.72
Fwd PE 6.13
HBIO Price Earnings VS Forward Price EarningsHBIO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HBIO indicates a somewhat cheap valuation: HBIO is cheaper than 65.45% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 22.93
HBIO Per share dataHBIO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2

4.3 Compensation for Growth

HBIO's earnings are expected to grow with 20.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y20.21%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

No dividends for HBIO!.
Industry RankSector Rank
Dividend Yield N/A

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HARVARD BIOSCIENCE INC

NASDAQ:HBIO (6/20/2025, 8:00:02 PM)

After market: 0.5222 -0.01 (-1.79%)

0.5317

+0.04 (+9%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)05-12 2025-05-12/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners73.17%
Inst Owner Change-17.12%
Ins Owners6.2%
Ins Owner Change-1.6%
Market Cap23.51M
Analysts80
Price Target3.06 (475.51%)
Short Float %16.38%
Short Ratio0.45
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)46.57%
Min EPS beat(2)17.65%
Max EPS beat(2)75.49%
EPS beat(4)2
Avg EPS beat(4)-45.1%
Min EPS beat(4)-173.52%
Max EPS beat(4)75.49%
EPS beat(8)2
Avg EPS beat(8)-41.43%
EPS beat(12)4
Avg EPS beat(12)-35.76%
EPS beat(16)4
Avg EPS beat(16)-30.39%
Revenue beat(2)1
Avg Revenue beat(2)5.44%
Min Revenue beat(2)-0.31%
Max Revenue beat(2)11.18%
Revenue beat(4)1
Avg Revenue beat(4)-4.56%
Min Revenue beat(4)-14.86%
Max Revenue beat(4)11.18%
Revenue beat(8)1
Avg Revenue beat(8)-5.8%
Revenue beat(12)2
Avg Revenue beat(12)-5.61%
Revenue beat(16)4
Avg Revenue beat(16)-3.95%
PT rev (1m)-33.33%
PT rev (3m)-52%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-114.29%
EPS NY rev (1m)0%
EPS NY rev (3m)-64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.93%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-10.89%
Valuation
Industry RankSector Rank
PE 17.72
Fwd PE 6.13
P/S 0.26
P/FCF N/A
P/OCF 7.78
P/B 1.58
P/tB N/A
EV/EBITDA 22.93
EPS(TTM)0.03
EY5.64%
EPS(NY)0.09
Fwd EY16.31%
FCF(TTM)0
FCFYN/A
OCF(TTM)0.07
OCFY12.86%
SpS2.07
BVpS0.34
TBVpS-0.1
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -72.74%
ROE -391.31%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 57.09%
FCFM N/A
ROA(3y)-6.27%
ROA(5y)-4.8%
ROE(3y)-12.47%
ROE(5y)-9.59%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.75%
GM growth 5Y0.96%
F-Score4
Asset Turnover1.15
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0
Cap/Depr 45.88%
Cap/Sales 3.53%
Interest Coverage N/A
Cash Conversion 133.35%
Profit Quality N/A
Current Ratio 0.81
Quick Ratio 0.4
Altman-Z -2.67
F-Score4
WACC10.47%
ROIC/WACCN/A
Cap/Depr(3y)33.21%
Cap/Depr(5y)26.48%
Cap/Sales(3y)2.31%
Cap/Sales(5y)1.84%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-72.73%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%-150%
EPS Next Y-23.5%
EPS Next 2Y20.21%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-14.41%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-11.17%
Revenue Next Year-7.04%
Revenue Next 2Y1.01%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-123.98%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year4733.33%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-105.62%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-38.93%
OCF growth 3Y4.55%
OCF growth 5Y-29.12%