HROW
HARROW, INC.
Healthcare • CIK: 0001360214
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Market Cap
$1.75B
P/E (TTM)
-344.1x
Rev Growth (TTM)
+54.9%
Net Margin (TTM)
-2.2%
FCF Yield (TTM)
0.9%
FCF Margin (TTM)
7.2%
Cash Flow Health
Free Cash Flow4/8 positive
TTM$17M
Q3 '25
$16M+1790%
Q2 '25
$-969000-105%
FCF Margin
TTM7.2%
Q3 '2531.8%+2189%
Sector: 0.0%Above Avg
OCF Margin7.7%
OCF/NI-3.54x
CapEx Coverage16.1x
FCF Yield0.9%
FCF Growth (2Y)+100%
Cash Conversion Cycle
14 days
DSO: 134+DIO: 64−DPO: 184
Capital Allocation & Returns
Total Shareholder Yield
TTM0.0%
Div Yield0.0%
Insufficient data
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$16.6M
Capital Return / FCF0.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
-8.2%
Volatile
-1.2% YoY+36.3%
P25MedianP75
25th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
-7.5%
8Q: 4.1%
Asset Turnover
0.63x
8Q: 0.55x
Leverage (1+D/E)
6.17x
D/E: 5.17x
DuPont: -29.1% ≈ -8.2% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
64.26x
8Q:55.52x
+2626.7%
Invested Cap Turn
1.09x
8Q:0.80x
+90.6%
CapEx Intensity
0.5%
8Q:0.5%
CapEx/Depreciation
0.84x
Depreciation Rate Trend
⚠ Declining -2.4%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $230.0M | $51.6M↓19.1% | $63.7M↑33.3% | $47.8M↓28.4% | $66.8M↑134.1% | $28.6M↓41.7% | $48.9M↑41.5% | $34.6M↓4.9% | $36.4M |
Operating Income | $27.8M | $14.7M↑29.3% | $11.4M↑201.6% | $-11.2M↓187.1% | $12.9M↑876.5% | $1.3M↓13.7% | $1.5M↑122.1% | $-6.9M↓42.1% | $-4.9M |
Net Income | $-5.0M | $1.0M↓79.6% | $5.0M↑128.1% | $-17.8M↓362.4% | $6.8M↑260.6% | $-4.2M↑34.8% | $-6.5M↑52.3% | $-13.6M↓48.3% | $-9.1M |
Operating Cash Flow | $17.7M | $16.6M↑2165.8% | $-803.0K↓104.1% | $19.7M↑210.6% | $-17.8M↓702.5% | $3.0M↑207.5% | $-2.7M↑40.7% | $-4.6M↓153.2% | $8.7M |
Free Cash Flow | $16.6M | $16.4M↑1790.2% | $-969.0K↓105.0% | $19.5M↑206.3% | $-18.3M↓881.2% | $2.3M↑176.0% | $-3.1M↑34.5% | $-4.7M↓155.5% | $8.5M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-344.1x
Volatile
8Q: -38.1x+112808%
Valuation Lenses
Earnings
-344.1x
vs – sector
Cash Flow
80.0x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: -8.2%
Shareholder Returns
Dividend
–
Buyback
–
Total Yield
–
Market Cap$1.75B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-16/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
-8.7%
8Q:–
Return on Invested Capital (ROIC)Below Avg
-8.2%
8Q:–
+36.3%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: -7.5%
Asset Turnover: 0.63x
Earnings Quality
Cash Conversion
-3.54x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin81.1%
Capital Efficiency
Invested Capital Turnover1.09x
Working Capital
Cash Conversion Cycle14 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
80/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
54.9%
OpInc Growth YoY
1016.4%
EPS Growth YoY
84.2%
FCF 3Y CAGR
100.0%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 8.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
81.1%
Operating
12.1%
Above Avg in sector
Net
-2.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+9.4 pts
FCF: 7.2% | Net: -2.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $168.58M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
5.17x
Balance sheet risk & solvency analysis