Recent News
On March 3, 2026 Haemonetics repaid in full $300.0 million of 0.00% Convertible Senior Notes that matured on March 2, funding the repayment with cash on hand and borrowings under its revolving credit facility.
On January 10, 2026 the company completed an acquisition of Vivasure Medical for €100 million upfront with up to €85 million in contingent milestone payments to broaden vascular-closure offerings, funded from cash.
Haemonetics presented at the J.P. Morgan Healthcare Conference on January 13, 2026; the company made management remarks and hosted a webcast of the presentation.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 24.42 indicates an emerging trend strength. DI- sits at 28.36 and is increasing, which reads as bearish pressure. DI+ at 16.02 shows a dip-and-reversal, which reads as bullish, leaving directional signals in conflict and implying short-term volatility rather than a clean trend.
MACD and momentum: MACD stands at -2.14 and has just completed a dip-and-reversal, a bullish momentum sign; however, MACD remains below its signal line (-1.89) so momentum has turned up but lacks confirmation from a signal-line cross.
MRO (Momentum/Regression Oscillator): MRO at 13.72 sits positive and rising, implying the current price sits above the model target and faces pressure toward a pullback from the current level if mean reversion takes hold.
RSI and short-term condition: RSI at 38.28 with a dip-and-reversal indicates a nascent recovery from lower readings, but the index remains below neutral, signaling limited upside conviction until momentum strengthens.
Price vs. moving averages, bands and volume: Last close $56.36 lies below the 50-day average ($61.90) and the 200-day average ($65.13), while the 12-day EMA trends down, indicating short- and medium-term price underperformance. Price sits slightly above the 1x lower Bollinger band ($55.40), which can accompany mean-reversion bounces. Volume (536,218) trades below recent moving averages, suggesting current moves lack strong conviction.
Fundamental Analysis
Profitability and margins: EBIT of $67,396,000 produces an EBIT margin of 19.883%, up QoQ by 11.265% and up YoY by 17.401%. The EBIT margin sits slightly below the industry peer mean of 20.757% and the industry peer median of 20.883%, reflecting margin expansion but not a clear leadership gap versus peers.
Earnings and cash flow: Reported EPS of $0.95 versus an estimate of $0.90 yielded an EPS surprise of 5.56% on the report dated 2026-02-05. Operating cash flow registered $93,564,000 with free cash flow of $87,215,000; free cash flow yield equals 2.586%, above the industry peer mean of 0.897%.
Revenue and growth dynamics: Total revenue $338,967,000 with headline revenue growth of 3.56%. Quarterly revenue growth shows a one-quarter rise of 93.268% and the provided year-over-year growth figure reads 305.929%, reflecting material timing and portfolio effects across the periods reported.
Balance sheet and leverage: Cash and short-term investments total $363,367,000 while net debt stands at $861,366,000. Debt-to-assets measures 49.168% and debt-to-equity measures 134.372%; debt-to-EBITDA registers 12.92x, indicating materially elevated leverage relative to operating cash flow. Interest coverage near 9.08x provides cushion on interest expense, but leverage levels remain a monitoring point.
Working capital and efficiency: Cash conversion cycle 242.47 days sits well above the industry peer mean of 171.45 days, reflecting elongated working capital. Asset turnover 0.13743 compares modestly to an industry peer mean of 0.12683, indicating reasonable asset utilization.
Valuation snapshot: WMDST values the stock as under-valued. Market multiples include a P/E of 54.99, price-to-book 3.70, EV/Revenue ~12.49, and a price-target mean of $63.86 versus last close $56.36. Relative to the industry peer mean P/E of 120.24 and peer mean price-to-book of 5.99, current multiples position Haemonetics below several peer averages on P/E and P/B measures while free cash flow generation and margin expansion support the assigned under-valued designation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-05 |
| NEXT REPORT DATE: | 2026-05-07 |
| CASH FLOW | Begin Period Cash Flow | $ 296.4 M |
| Operating Cash Flow | $ 93.6 M | |
| Capital Expenditures | $ -6.35 M | |
| Change In Working Capital | $ 11.8 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 66.9 M | |
| End Period Cash Flow | $ 363.4 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 339.0 M | |
| Forward Revenue | $ 117.7 M | |
| COSTS | ||
| Cost Of Revenue | $ 136.6 M | |
| Depreciation | $ 16.5 M | |
| Depreciation and Amortization | $ 27.4 M | |
| Research and Development | $ 14.2 M | |
| Total Operating Expenses | $ 270.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 202.4 M | |
| EBITDA | $ 94.8 M | |
| EBIT | $ 67.4 M | |
| Operating Income | $ 68.1 M | |
| Interest Income | — | |
| Interest Expense | $ 7.4 M | |
| Net Interest Income | $ -7.42 M | |
| Income Before Tax | $ 60.0 M | |
| Tax Provision | $ 15.2 M | |
| Tax Rate | 25.4 % | |
| Net Income | $ 44.7 M | |
| Net Income From Continuing Operations | $ 44.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.90 | |
| EPS Actual | $ 0.95 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 5.556 % | |
| Forward EPS | $ 1.33 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.5 B | |
| Intangible Assets | $ 1.0 B | |
| Net Tangible Assets | $ -115.11 M | |
| Total Current Assets | $ 943.7 M | |
| Cash and Short-Term Investments | $ 363.4 M | |
| Cash | $ 363.4 M | |
| Net Receivables | $ 195.7 M | |
| Inventory | $ 321.2 M | |
| Long-Term Investments | $ 216.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 48.7 M | |
| Short-Term Debt | $ 304.7 M | |
| Total Current Liabilities | $ 539.9 M | |
| Net Debt | $ 861.4 M | |
| Total Debt | $ 1.2 B | |
| Total Liabilities | $ 1.6 B | |
| EQUITY | ||
| Total Equity | $ 911.5 M | |
| Retained Earnings | $ 381.1 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 19.46 | |
| Shares Outstanding | 46.829 M | |
| Revenue Per-Share | $ 7.24 | |
| VALUATION | Market Capitalization | $ 3.4 B |
| Enterprise Value | $ 4.2 B | |
| Enterprise Multiple | 44.677 | |
| Enterprise Multiple QoQ | 12.694 % | |
| Enterprise Multiple YoY | 11.191 % | |
| Enterprise Multiple IPRWA | high: 158.913 median: 85.622 mean: 83.369 HAE: 44.677 low: -144.328 |
|
| EV/R | 12.492 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.733 | |
| Asset To Liability | 1.577 | |
| Debt To Capital | 0.573 | |
| Debt To Assets | 0.492 | |
| Debt To Assets QoQ | -1.956 % | |
| Debt To Assets YoY | 24484.0 % | |
| Debt To Assets IPRWA | high: 0.717 HAE: 0.492 mean: 0.28 median: 0.262 low: 0.004 |
|
| Debt To Equity | 1.344 | |
| Debt To Equity QoQ | -6.832 % | |
| Debt To Equity YoY | 23895.0 % | |
| Debt To Equity IPRWA | high: 2.909 HAE: 1.344 mean: 0.538 median: 0.472 low: 0.006 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.701 | |
| Price To Book QoQ | 25.171 % | |
| Price To Book YoY | -12.913 % | |
| Price To Book IPRWA | high: 13.986 mean: 5.989 median: 5.854 HAE: 3.701 low: 0.42 |
|
| Price To Earnings (P/E) | 54.985 | |
| Price To Earnings QoQ | 30.021 % | |
| Price To Earnings YoY | -14.708 % | |
| Price To Earnings IPRWA | high: 269.298 mean: 120.242 median: 86.718 HAE: 54.985 low: -228.062 |
|
| PE/G Ratio | 17.456 | |
| Price To Sales (P/S) | 9.951 | |
| Price To Sales QoQ | 29.733 % | |
| Price To Sales YoY | -10.0 % | |
| Price To Sales IPRWA | high: 52.884 median: 23.476 mean: 20.245 HAE: 9.951 low: 0.541 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 53.918 | |
| Forward PE/G | 17.117 | |
| Forward P/S | 28.584 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.277 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.137 | |
| Asset Turnover Ratio QoQ | 2.959 % | |
| Asset Turnover Ratio YoY | -0.312 % | |
| Asset Turnover Ratio IPRWA | high: 0.371 HAE: 0.137 median: 0.133 mean: 0.127 low: 0.003 |
|
| Receivables Turnover | 1.683 | |
| Receivables Turnover Ratio QoQ | 4.857 % | |
| Receivables Turnover Ratio YoY | 2.736 % | |
| Receivables Turnover Ratio IPRWA | high: 2.907 mean: 1.882 median: 1.867 HAE: 1.683 low: 0.47 |
|
| Inventory Turnover | 0.416 | |
| Inventory Turnover Ratio QoQ | 9.189 % | |
| Inventory Turnover Ratio YoY | -0.577 % | |
| Inventory Turnover Ratio IPRWA | high: 1.821 mean: 0.672 median: 0.548 HAE: 0.416 low: 0.167 |
|
| Days Sales Outstanding (DSO) | 54.213 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 242.468 | |
| Cash Conversion Cycle Days QoQ | -8.48 % | |
| Cash Conversion Cycle Days YoY | 4.687 % | |
| Cash Conversion Cycle Days IPRWA | high: 453.393 HAE: 242.468 mean: 171.453 median: 165.533 low: -118.454 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.839 | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -0.386 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.8 B | |
| Net Invested Capital | $ 2.1 B | |
| Invested Capital | $ 2.1 B | |
| Net Tangible Assets | $ -115.11 M | |
| Net Working Capital | $ 403.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.673 | |
| Current Ratio | 1.748 | |
| Current Ratio QoQ | 6.532 % | |
| Current Ratio YoY | -55.994 % | |
| Current Ratio IPRWA | high: 13.536 mean: 2.712 median: 1.893 HAE: 1.748 low: 0.168 |
|
| Quick Ratio | 1.153 | |
| Quick Ratio QoQ | 12.203 % | |
| Quick Ratio YoY | -54.818 % | |
| Quick Ratio IPRWA | high: 12.347 mean: 2.038 median: 1.469 HAE: 1.153 low: 0.437 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.922 | |
| Cost Of Debt | 0.452 % | |
| Interest Coverage Ratio | 9.082 | |
| Interest Coverage Ratio QoQ | 11.886 % | |
| Interest Coverage Ratio YoY | 40.191 % | |
| Interest Coverage Ratio IPRWA | high: 33.446 median: 25.964 mean: 20.992 HAE: 9.082 low: -66.822 |
|
| Operating Cash Flow Ratio | 0.158 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 37.99 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.996 % | |
| Revenue Growth | 3.56 % | |
| Revenue Growth QoQ | 93.268 % | |
| Revenue Growth YoY | 305.929 % | |
| Revenue Growth IPRWA | high: 20.682 % median: 12.969 % mean: 10.166 % HAE: 3.56 % low: -28.254 % |
|
| Earnings Growth | 3.15 % | |
| Earnings Growth QoQ | -79.618 % | |
| Earnings Growth YoY | -49.6 % | |
| Earnings Growth IPRWA | high: 188.889 % mean: 10.352 % median: 6.383 % HAE: 3.15 % low: -142.105 % |
|
| MARGINS | ||
| Gross Margin | 59.707 % | |
| Gross Margin QoQ | 0.353 % | |
| Gross Margin YoY | 7.522 % | |
| Gross Margin IPRWA | high: 89.02 % median: 64.538 % mean: 62.827 % HAE: 59.707 % low: 1.515 % |
|
| EBIT Margin | 19.883 % | |
| EBIT Margin QoQ | 11.265 % | |
| EBIT Margin YoY | 17.401 % | |
| EBIT Margin IPRWA | high: 33.51 % median: 20.883 % mean: 20.757 % HAE: 19.883 % low: -144.871 % |
|
| Return On Sales (ROS) | 20.094 % | |
| Return On Sales QoQ | -1.942 % | |
| Return On Sales YoY | 18.647 % | |
| Return On Sales IPRWA | high: 35.479 % mean: 22.065 % median: 21.965 % HAE: 20.094 % low: -146.78 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 87.2 M | |
| Free Cash Flow Yield | 2.586 % | |
| Free Cash Flow Yield QoQ | -38.923 % | |
| Free Cash Flow Yield YoY | 182.932 % | |
| Free Cash Flow Yield IPRWA | high: 4.073 % HAE: 2.586 % median: 0.969 % mean: 0.897 % low: -15.714 % |
|
| Free Cash Growth | -17.958 % | |
| Free Cash Growth QoQ | -102.644 % | |
| Free Cash Growth YoY | 69.639 % | |
| Free Cash Growth IPRWA | high: 265.331 % mean: 5.07 % median: -0.761 % HAE: -17.958 % low: -303.638 % |
|
| Free Cash To Net Income | 1.949 | |
| Cash Flow Margin | 25.226 % | |
| Cash Flow To Earnings | 1.911 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 1.814 % | |
| Return On Assets QoQ | 14.956 % | |
| Return On Assets YoY | 22.32 % | |
| Return On Assets IPRWA | high: 15.87 % mean: 2.036 % HAE: 1.814 % median: 1.556 % low: -22.379 % |
|
| Return On Capital Employed (ROCE) | 3.454 % | |
| Return On Equity (ROE) | 0.049 | |
| Return On Equity QoQ | 7.772 % | |
| Return On Equity YoY | 18.747 % | |
| Return On Equity IPRWA | high: 0.174 HAE: 0.049 mean: 0.03 median: 0.028 low: -0.518 |
|
| DuPont ROE | 5.082 % | |
| Return On Invested Capital (ROIC) | 2.354 % | |
| Return On Invested Capital QoQ | 10.672 % | |
| Return On Invested Capital YoY | -116.768 % | |
| Return On Invested Capital IPRWA | high: 6.199 % mean: 2.695 % HAE: 2.354 % median: 2.127 % low: -14.233 % |
|