Recent News
On November 11, 2025 several outlets reported a consensus analyst rating of “moderate buy” for Haemonetics driven by recent coverage updates and 12-month target revisions. A company filing dated December 27, 2025 disclosed expanded strategic investments and noted completion of the Vivasure acquisition on January 9, 2026 as a subsequent event, with strategic investments rising materially year-to-date.
Technical Analysis
Directional indicators show a strong trend environment: ADX at 39.63 indicates a robust trend strength, while DI+ at 13.8 decreasing and DI- at 33.48 (dip & reversal) together signal the current directional bias favors downside pressure; that combination implies technical momentum currently works against an immediate valuation re-rating.
MACD sits negative at -3.93 and the MACD trend declines with the signal at -2.92, a configuration that denotes bearish momentum and lowers the likelihood of a sustained breakout until momentum stabilizes or the MACD turns higher toward the signal line.
MRO reads -15.88 (negative) with a decreasing trend, which mathematically indicates the price sits below the internal target and contains mean-reversion potential; however, the concurrent negative MACD and falling RSI reduce the probability that that mean reversion will unfold immediately without a momentum shift.
RSI at 41.93 and falling confirms weakened short-term demand but stops short of extreme oversold readings; price trades beneath major trend references (price close $57.69 vs. 200-day average $66.41 and 50-day average $76.60) and below the 26-day EMA ($69.49) and the Ichimoku cloud components, positioning the series under resistance levels such as the super trend upper band at $64.16. Price sits beneath both the 1x and 2x lower Bollinger bounds (lower 1x $61.89; lower 2x $57.89), indicating an extended deviation from typical volatility bands that could compress if momentum stabilizes.
Fundamental Analysis
Revenue totaled $338,967,000 with YoY revenue growth of 3.06% and QoQ revenue growth of 93.27%, signaling recent quarter-to-quarter pickup into higher-margin lines. Gross margin reached 59.71%, improving YoY by 7.52 percentage points, and operating margin stands at 20.09% (operating margin YoY +18.647 percentage points). WMDST’s valuation labels the stock under-valued; margin expansion provides fundamental support for that valuation but also coexists with leverage considerations below.
Profitability: EBIT $67,396,000 produces an EBIT margin of 19.883%, below the industry peer mean of 29.597% and industry peer median of 30.155% but well above the industry peer low of -16.946%; EBITDA equals $94,781,000. EPS for the period registered $1.31 versus an estimate of $1.25, an EPS surprise of +4.8% (EPS surprise ratio 0.048), which demonstrates modest upside relative to consensus expectations.
Cash flow and liquidity: Operating cash flow $85,508,000 and free cash flow $87,215,000 yield a free cash flow yield of 2.59% while the company holds $363,367,000 in cash and short-term investments. Cash conversion remains elongated (cash conversion cycle ~242 days) but the cash flow to earnings ratio near 1.91 and free cash to net income near 1.95 signal strong conversion of reported earnings into cash.
Balance sheet and leverage: Total debt $1,224,733,000 produces net debt $861,366,000 and debt/EBITDA of 12.92x, a materially elevated leverage multiple despite an interest coverage ratio of 9.08. Debt-to-assets reads 49.17% and debt-to-equity about 134.37%, indicating significant financial leverage that increases sensitivity to operating swings even as interest costs remain manageable.
Valuation: Trailing P/E sits at 54.99 with forward P/E ~53.92; price-to-book 3.70 and enterprise multiple 44.68. WMDST values the stock as under-valued based on internal models, yet the premium valuation multiples and low free cash flow yield relative to absolute benchmarks argue that any re-rating toward that intrinsic value will require visible improvement in momentum or a durable margin expansion narrative.
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 | $ 85.5 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 | $ 118.0 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 | 25.402 % | |
| Net Income | $ 44.7 M | |
| Net Income From Continuing Operations | $ 44.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.25 | |
| EPS Actual | $ 1.31 | |
| EPS Difference | $ 0.06 | |
| EPS Surprise | 4.8 % | |
| 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: 50.887 median: 50.887 mean: 50.664 HAE: 44.677 low: -13.859 |
|
| 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: 0.64 HAE: 0.492 mean: 0.279 low: 0.275 median: 0.275 |
|
| Debt To Equity | 1.344 | |
| Debt To Equity QoQ | -6.832 % | |
| Debt To Equity YoY | 23895.0 % | |
| Debt To Equity IPRWA | high: 4.153 HAE: 1.344 mean: 0.497 low: 0.481 median: 0.481 |
|
| 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: 10.911 median: 10.911 mean: 10.269 HAE: 3.701 low: 1.286 |
|
| Price To Earnings (P/E) | 54.985 | |
| Price To Earnings QoQ | 30.021 % | |
| Price To Earnings YoY | -14.708 % | |
| Price To Earnings IPRWA | high: 216.462 mean: 204.752 median: 58.775 HAE: 54.985 low: -7.63 |
|
| 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: 67.849 median: 67.849 mean: 63.515 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 median: 0.144 mean: 0.142 HAE: 0.137 low: 0.115 |
|
| Receivables Turnover | 1.683 | |
| Receivables Turnover Ratio QoQ | 4.857 % | |
| Receivables Turnover Ratio YoY | 2.736 % | |
| Receivables Turnover Ratio IPRWA | high: 10.118 median: 2.165 mean: 2.133 HAE: 1.683 low: 1.622 |
|
| Inventory Turnover | 0.416 | |
| Inventory Turnover Ratio QoQ | 9.189 % | |
| Inventory Turnover Ratio YoY | -0.577 % | |
| Inventory Turnover Ratio IPRWA | high: 3.525 mean: 0.543 low: 0.531 median: 0.531 HAE: 0.416 |
|
| 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 | HAE: 242.468 high: 208.658 median: 208.658 mean: 203.513 low: -2.143 |
|
| 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: 4.875 median: 4.875 mean: 4.797 HAE: 1.748 low: 0.771 |
|
| Quick Ratio | 1.153 | |
| Quick Ratio QoQ | 12.203 % | |
| Quick Ratio YoY | -54.818 % | |
| Quick Ratio IPRWA | high: 3.957 median: 3.957 mean: 3.896 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: 30.115 median: 30.115 mean: 28.354 HAE: 9.082 low: -7.547 |
|
| 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: 7.226 % HAE: 3.56 % mean: 0.168 % low: -0.171 % median: -0.171 % |
|
| Earnings Growth | 3.15 % | |
| Earnings Growth QoQ | -79.618 % | |
| Earnings Growth YoY | -49.6 % | |
| Earnings Growth IPRWA | high: 500.0 % median: 5.417 % mean: 4.979 % HAE: 3.15 % low: -7.965 % |
|
| MARGINS | ||
| Gross Margin | 59.707 % | |
| Gross Margin QoQ | 0.353 % | |
| Gross Margin YoY | 7.522 % | |
| Gross Margin IPRWA | high: 66.44 % median: 66.44 % mean: 65.593 % HAE: 59.707 % low: 23.355 % |
|
| EBIT Margin | 19.883 % | |
| EBIT Margin QoQ | 11.265 % | |
| EBIT Margin YoY | 17.401 % | |
| EBIT Margin IPRWA | high: 30.155 % median: 30.155 % mean: 29.597 % HAE: 19.883 % low: -16.946 % |
|
| Return On Sales (ROS) | 20.094 % | |
| Return On Sales QoQ | -1.942 % | |
| Return On Sales YoY | 18.647 % | |
| Return On Sales IPRWA | high: 30.155 % median: 30.155 % mean: 29.477 % HAE: 20.094 % low: -4.912 % |
|
| 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 % mean: 0.445 % median: 0.375 % low: -25.174 % |
|
| Free Cash Growth | -17.958 % | |
| Free Cash Growth QoQ | -102.644 % | |
| Free Cash Growth YoY | 69.639 % | |
| Free Cash Growth IPRWA | high: 152.763 % median: -0.761 % mean: -3.827 % HAE: -17.958 % low: -446.345 % |
|
| 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: 3.993 % median: 3.993 % mean: 3.813 % HAE: 1.814 % low: -6.678 % |
|
| 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 | HAE: 0.049 high: 0.045 median: 0.045 mean: 0.043 low: -0.428 |
|
| 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: 4.057 % median: 4.057 % mean: 3.923 % HAE: 2.354 % low: -20.838 % |
|