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HARVARD BIOSCIENCE INC (HBIO) Stock Fundamental Analysis

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

0.3  0 (0%)

After market: 0.3 0 (0%)

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. Both the profitability and financial health of HBIO have multiple concerns. HBIO is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

HBIO had positive earnings in the past year.
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 -9.80%, HBIO perfoms like the industry average, outperforming 56.36% of the companies in the same industry.
HBIO's Return On Equity of -19.58% is in line compared to the rest of the industry. HBIO outperforms 56.36% of its industry peers.
Industry RankSector Rank
ROA -9.8%
ROE -19.58%
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

With a decent Gross Margin value of 58.18%, HBIO is doing good in the industry, outperforming 74.55% of the companies in the same industry.
In the last couple of years the Gross Margin of HBIO has remained more or less at the same level.
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 58.18%
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.
Compared to 1 year ago, HBIO has more shares outstanding
The number of shares outstanding for HBIO has been increased compared to 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

Based on the Altman-Z score of -1.11, we must say that HBIO is in the distress zone and has some risk of bankruptcy.
HBIO has a worse Altman-Z score (-1.11) than 80.00% of its industry peers.
There is no outstanding debt for HBIO. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z -1.11
ROIC/WACCN/A
WACC9.32%
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

HBIO has a Current Ratio of 0.82. This is a bad value and indicates that HBIO is not financially healthy enough and could expect problems in meeting its short term obligations.
HBIO's Current ratio of 0.82 is on the low side compared to the rest of the industry. HBIO is outperformed by 92.73% of its industry peers.
HBIO has a Quick Ratio of 0.82. This is a bad value and indicates that HBIO is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of HBIO (0.40) is worse than 96.36% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
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 -60.00%.
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.
HBIO shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -16.14%.
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)-60%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%50%
Revenue 1Y (TTM)-16.14%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-12.78%

3.2 Future

The Earnings Per Share is expected to grow by 12.92% on average over the next years. This is quite good.
HBIO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.27% yearly.
EPS Next Y-23.5%
EPS Next 2Y12.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-5.55%
Revenue Next 2Y1.27%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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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6

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 5.00, the valuation of HBIO can be described as very cheap.
Based on the Price/Earnings ratio, HBIO is valued cheaper than 100.00% of the companies in the same industry.
HBIO's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.99.
Based on the Price/Forward Earnings ratio of 6.54, the valuation of HBIO can be described as very cheap.
Based on the Price/Forward Earnings ratio, HBIO is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
HBIO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 20.35.
Industry RankSector Rank
PE 5
Fwd PE 6.54
HBIO Price Earnings VS Forward Price EarningsHBIO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HBIO is valued a bit cheaper than 61.82% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 26.53
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 12.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y12.92%
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 (5/7/2025, 8:09:33 PM)

After market: 0.3 0 (0%)

0.3

0 (0%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryLife Sciences Tools & Services
Earnings (Last)03-12 2025-03-12/bmo
Earnings (Next)05-13 2025-05-13/bmo
Inst Owners82.92%
Inst Owner Change-1.16%
Ins Owners7.23%
Ins Owner Change-2.49%
Market Cap13.26M
Analysts80
Price Target4.59 (1430%)
Short Float %2.61%
Short Ratio2.9
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)1
Avg EPS beat(2)-77.94%
Min EPS beat(2)-173.52%
Max EPS beat(2)17.65%
EPS beat(4)1
Avg EPS beat(4)-67.96%
Min EPS beat(4)-173.52%
Max EPS beat(4)17.65%
EPS beat(8)2
Avg EPS beat(8)-48.66%
EPS beat(12)3
Avg EPS beat(12)-44.26%
EPS beat(16)4
Avg EPS beat(16)-32.17%
Revenue beat(2)0
Avg Revenue beat(2)-7.59%
Min Revenue beat(2)-14.86%
Max Revenue beat(2)-0.31%
Revenue beat(4)0
Avg Revenue beat(4)-9.06%
Min Revenue beat(4)-14.86%
Max Revenue beat(4)-0.31%
Revenue beat(8)1
Avg Revenue beat(8)-6.96%
Revenue beat(12)1
Avg Revenue beat(12)-6.7%
Revenue beat(16)4
Avg Revenue beat(16)-4.48%
PT rev (1m)5.88%
PT rev (3m)-28%
EPS NQ rev (1m)-300%
EPS NQ rev (3m)-366.67%
EPS NY rev (1m)-40%
EPS NY rev (3m)-64%
Revenue NQ rev (1m)-2.54%
Revenue NQ rev (3m)-16.34%
Revenue NY rev (1m)-0.56%
Revenue NY rev (3m)-9.46%
Valuation
Industry RankSector Rank
PE 5
Fwd PE 6.54
P/S 0.14
P/FCF N/A
P/OCF 9.21
P/B 0.21
P/tB N/A
EV/EBITDA 26.53
EPS(TTM)0.06
EY20%
EPS(NY)0.05
Fwd EY15.3%
FCF(TTM)-0.04
FCFYN/A
OCF(TTM)0.03
OCFY10.86%
SpS2.13
BVpS1.43
TBVpS-0.09
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -9.8%
ROE -19.58%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 58.18%
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-Score3
Asset Turnover0.74
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0
Cap/Depr 45.59%
Cap/Sales 3.47%
Interest Coverage N/A
Cash Conversion 82.85%
Profit Quality N/A
Current Ratio 0.82
Quick Ratio 0.4
Altman-Z -1.11
F-Score3
WACC9.32%
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)-60%
EPS 3Y-37.86%
EPS 5Y-19.73%
EPS Q2Q%50%
EPS Next Y-23.5%
EPS Next 2Y12.92%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-16.14%
Revenue growth 3Y-7.49%
Revenue growth 5Y-4.12%
Sales Q2Q%-12.78%
Revenue Next Year-5.55%
Revenue Next 2Y1.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-384.91%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year4766.67%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-115.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-89.73%
OCF growth 3Y4.55%
OCF growth 5Y-29.12%