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Harrow, Inc. HROW R2K

Healthcare · Drug Manufacturers - Specialty & Generic · United States
https://www.harrow.com

Harrow, Inc., an eyecare pharmaceutical company, engages in the discovery, development, and commercialization of ophthalmic pharmaceutical products in the United States. It operates through Branded and ImprimisRx segments. The company offers ImprimisRx, an ophthalmology-focused compounded medications. It also provides IHEEZO, a chloroprocaine hydrochloride ophthalmic gel; ophthalmic solutions, including IOPIDINE, VEVYE, and ZERVIATE, as well as BYQLOVI; MAXITROL eye drops; ILEVRO and NEVANAC, a non-steroidal and anti-inflammatory eye drop for pain and inflammation associated with cataract surgery; BYOOVIZ, a LUCENTIS biosimilar indicated for the treatment of patients with Neovascular (Wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), and myopic choroidal neovascularization (mCNV); VIGAMOX, a fluoroquinolone antibiotic eye drop for the treatment of bacterial conjunctivitis; OPUVIZ, an EYLEA biosimilar indicated for the treatment of patients with Wet AMD, macular edema following RVO, diabetic macular edema (DME), and diabetic retinopathy (DR); MAXIDEX and FLAREX, a steroid eye drop for steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe and the eye; TRIESENCE, a steroid injection for the treatment of ophthalmic diseases and for visualization during vitrectomy; and NATACYN, a sterile, antifungal drug for the treatment of fungal blepharitis, conjunctivitis, and keratitis. In addition, it offers TOBRADEX ST, a tobramycin and dexamethasone ophthalmic suspension; VERKAZIA cyclosporine ophthalmic emulsion; NEVANAC, a non-steroidal, anti-inflammatory eye drop; and FRESHKOTE preservative free (PF) is a lubricant eye drop. The company was formerly known as Harrow Health, Inc. and changed its name to Harrow, Inc. in September 2023. Harrow, Inc. was founded in 1998 and is headquartered in Nashville, Tennessee.

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$35.21
+25.26% 1Y

Market & Price

Market Cap
$1.31B
Current Price
$35.21
High / Low (52W)
$54.80 / $28.11
Beta
0.34

Valuation

Stock P/E
-
Industry PE
23.65
Forward P/E
13.15
PEG Ratio
-
Book Value
$0.77
Price to Book
45.73
P/S
4.88
EV/EBITDA
39.03
Dividend Yield
-

Profitability & Returns

ROCE
7.52%
ROE
-35.43%
ROA
3.14%
Profit Margin
-5.57%
Op Margin
-49.95%
EPS (Latest Qtr)
$-0.74
EPS (TTM)
$-0.38

Balance Sheet & Liquidity

Debt/Equity
10.61
Quick Ratio
2.16
Current Ratio
2.48
Debt
$300.67M
Total Assets
$399.48M
Current Assets
$211.75M
Working Capital
$115.45M

Ownership

Promoter Holding
15.47%
Chg in Prom Hold
-
FII / Inst Holding
58.90%
Chg in FII Hold
0.00%

Financial Snapshot

Enterprise Value
$1.52B
Total Revenue (TTM)
$268.68M
EBITDA
$38.87M
Free Cash Flow
$-5.05M
Operating Cash Flow
$15.20M
Shares Outstanding
37.28M
Gross Margin
74.11%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
45.39%
Profit 5Y
21.17%
Revenue (YoY)
-7.60%
Earnings (YoY)
-

PROS

  • Compounding revenue at 45.4% over 5 years.
  • Profit CAGR of 21.2% over 5 years.

CONS

  • Trading 35.8% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 HROW Harrow, Inc. R2K 35.21 - $1.31B - 7.52% -35.43% 45.39% 21.17%
2 LLY Eli Lilly and Company SPX 1,105.00 39.21 $985.37B 0.63% 38.44% 107.46% 31.69% 48.96%
3 JNJ Johnson & Johnson SPX 225.33 26.11 $542.42B 2.38% 23.13% 26.42% 5.60% 14.32%
4 UNH UnitedHealth Group Incorporated SPX 380.31 28.66 $345.38B 2.32% 9.60% 12.18% 11.35% -15.69%
5 MRK Merck & Co., Inc. SPX 118.72 33.44 $293.22B 2.86% 20.66% 18.94% 3.12% 7.93%
6 TMO Thermo Fisher Scientific Inc. SPX 492.51 27.11 $183.03B 0.38% 9.17% 13.52% -0.27% -1.19%
7 AMGN Amgen Inc. NDXSPX 336.79 23.42 $181.77B 2.99% 18.02% 101.32% 11.77% 5.58%
8 GILD Gilead Sciences, Inc. NDXSPX 134.43 18.29 $166.90B 2.44% 22.92% 43.36% 2.57% 22.83%
9 ISRG Intuitive Surgical, Inc. NDXSPXAI 424.64 51.53 $150.39B - 15.96% 17.23% 17.39% 29.26%
Ad space

Quarterly Results

Figures in USD.

Metric Sep 2013Mar 2014Jun 2014Sep 2014Mar 2015Jun 2015Sep 2015Mar 2016Jun 2016Sep 2016Mar 2017Jun 2017Sep 2017Mar 2018Jun 2018Sep 2018Mar 2019Jun 2019Sep 2019Mar 2020Jun 2020Sep 2020Mar 2021Jun 2021Sep 2021Mar 2022Jun 2022Sep 2022Mar 2023Jun 2023Sep 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue ------------6.48M8.87M10.38M10.74M12.29M13.52M12.76M11.82M8.06M14.40M15.44M18.13M18.71M22.12M23.32M22.82M26.10M33.47M34.27M34.59M48.94M--47.83M63.74M71.64M89.09M44.20M
Cost of Revenue -----------------------------------15.52M16.23M17.71M18.47M17.16M
Gross Profit 2.50K2.00K191.00K202.00K556.00K917.00K1.48M2.13M2.73M2.52M2.74M3.57M3.08M4.79M6.23M6.55M8.39M8.29M8.69M8.19M4.86M10.70M11.67M13.72M13.76M16.16M16.79M16.10M17.83M23.47M24.20M24.03M36.40M--32.31M47.51M53.93M70.62M27.05M
Operating Expenses -----------------------------------43.54M36.10M39.18M55.03M49.12M
Operating Income -2.09M-2.33M-2.60M-2.46M-3.12M-3.48M-3.53M-3.75M-4.01M-4.61M-4.23M-3.02M-2.76M-1.78M-624.00K-649.00K-556.00K-767.00K-4.40M-628.00K-3.21M1.60M2.92M4.17M-3.72M2.10M1.69M-94.00K1.21M2.35M1.74M-6.93M1.53M---11.23M11.41M14.75M15.59M-22.08M
EBITDA ------------------------------------6.32M16.31M11.96M20.55M-16.30M
Interest Expense -----------------------------------6.55M6.41M6.04M5.19M5.50M
Pretax Income ------------------------------------17.78M5.00M1.02M10.40M-27.58M
Tax Provision -----------------------------------514.00K-003.77M25.00K
Net Income -2.08M-2.33M-2.60M-2.45M-3.09M-3.73M-3.95M-4.50M-4.64M-3.85M-5.01M1.48M-5.69M-3.51M2.52M-2.51M11.36M-2.38M-11.47M-12.91M-237.00K8.64M217.00K-2.48M-8.33M-2.44M-6.24M-6.46M-6.64M-4.23M-4.39M-13.56M-6.47M---17.78M5.00M1.02M6.63M-27.60M
Diluted EPS ---------0.35--0.06--0.170.11-0.43-0.09-0.45-0.50-0.010.320.01--0.31-0.09-0.23-0.24-0.22-0.14-0.13-0.38-0.18---0.500.130.030.17-0.74
R&D Expense 469.48K60.00K36.00K70.00K181.00K25.00K93.00K46.00K76.00K16.00K160.00K101.00K63.00K87.00K72.00K233.00K405.00K810.00K444.00K403.00K749.00K670.00K592.00K425.00K6.12M658.00K914.00K775.00K734.00K1.16M1.42M2.15M3.05M2.27M-3.03M2.87M3.32M-5.89M

Profit & Loss (Annual)

Figures in USD.

Metric Dec 1999Dec 2000Dec 2001Dec 2002Dec 2003Dec 2004Dec 2005Dec 2006Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue ------------------26.77M41.37M51.16M48.87M-88.59M130.19M199.61M272.30M
Cost of Revenue -----------------------25.38M39.64M49.24M67.93M
Gross Profit --------------10.00K567.00K4.51M10.11M13.27M24.85M34.42M34.41M-63.21M90.55M150.37M204.37M
Operating Expenses -----------------------61.29M89.74M141.29M173.85M
Operating Income ------------2.50M-939.23K-4.18M-7.69M-10.15M-14.82M-15.88M-12.16M-5.22M-4.79M385.00K-1.92M811.00K9.07M30.52M
EBITDA ------------------------3.10M9.95M20.00M42.49M
Interest Expense -----------------------7.24M21.32M22.79M24.18M
Pretax Income ------------------------14.01M-23.71M-17.32M-1.37M
Tax Provision -----------------------75.00K701.00K161.00K3.77M
Net Income -204.00K-213.09K-208.42K-228.22K-207.20K-508.23K-539.62K-584.23K-4.28M-3.30M-4.55M-2.53M-953.94K-5.38M-7.64M-10.12M-15.90M-19.09M-11.98M14.62M168.00K-3.36M--14.09M-24.41M-17.48M-5.14M
Diluted EPS -------------------0.600.610.01-0.13--0.51-0.75-0.49-0.14
R&D Expense -----------194.59K111.55K1.30M1.62M237.00K332.00K739.00K413.00K825.00K2.08M2.41M11.08M3.05M6.65M12.23M20.94M

Compounded Sales Growth

5 Years:45.39%
1 Year:-7.60%

Compounded Profit Growth

5 Years:21.17%
1 Year:-

Stock Price Performance

1 Year:+25.26%
6 Months:-14.16%
3 Months:-35.01%
1 Month:-12.50%

Balance Sheet (Annual)

Figures in USD.

Metric Jun 1998Dec 1998Dec 1999Dec 2000Dec 2001Dec 2002Dec 2003Dec 2004Dec 2005Dec 2006Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Total Assets -------------352.29K160.96K10.71M15.76M10.24M14.13M27.25M23.92M49.45M59.09M57.47M-157.38M312.16M388.97M399.48M
Current Assets -------------------------118.26M139.48M189.65M211.75M
Cash & Equivalents ------------1.59M291.46K146.16K10.04M15.58M8.21M2.69M8.85M4.02M-4.75M4.10M-96.27M74.08M47.25M72.93M
Inventory -------------------------6.54M10.87M10.70M13.52M
Receivables -------------------------6.25M36.26M116.37M110.89M
Total Liabilities -------------1.39M1.86M-650.63K2.09M15.52M20.82M21.30M24.70M31.67M30.65M-130.14M241.75M319.67M347.39M
Current Liabilities -------------335.04K1.86M709.56K650.63K1.56M5.37M9.90M5.77M11.90M12.28M10.80M-18.63M49.34M91.34M96.30M
Long Term Debt --------------------23.46M23.46M-20.00M-104.17M185.88M219.54M243.18M
Total Debt -------------------------112.23M193.22M228.83M251.98M
Total Equity 00-4.00K-11.09K-19.51K-47.73K-54.92K-163.15K-272.77K-406.00K3.49M4.57M577.21K-1.04M-1.70M10.00M15.11M8.15M-1.39M6.43M2.62M24.75M27.71M27.18M-27.59M70.77M69.65M52.45M
Shares Outstanding -------------------------29.90M35.17M35.62M37.23M

Cash Flows (Annual)

Figures in USD.

Metric Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating Cash Flow -2.30M-291.16K-1.90M-4.44M-7.06M-11.14M-11.21M-8.80M687.00K950.00K-1.10M-1.71M3.84M-22.20M43.86M
Investing Cash Flow 00-15.49K-70.00K-910.00K-5.13M-7.29M-961.00K-2.20M-1.83M-981.00K--1.74M-152.55M-33.16M-5.46M
Financing Cash Flow 1.00M145.86K11.81M10.05M599.00K10.75M24.67M4.93M4.13M-1.01M1.43M-54.14M126.53M28.53M-12.72M
Capital Expenditure -0-0-15.49K-20.00K-174.00K995.00K-6.89M-772.00K-1.77M-1.47M-862.00K--7.77M-152.55M-38.67M-1.10M
Free Cash Flow -2.30M-291.16K-1.92M-4.46M-7.23M-10.15M-18.10M-9.57M-1.08M-518.00K-1.96M--6.07M-148.71M-60.88M42.76M
Net Change in Cash ------------54.10M-22.18M-26.84M25.68M
Share Buybacks ---191-13.00K-----------

Ratios (Annual)

Figures in %.

Metric Dec 1999Dec 2000Dec 2001Dec 2002Dec 2003Dec 2004Dec 2005Dec 2006Dec 2007Dec 2008Dec 2009Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Gross Margin % ------------------49.6%60.1%67.3%70.4%-71.3%69.6%75.3%75.1%
Operating Margin % -------------------45.4%-12.6%-9.4%0.8%-2.2%0.6%4.5%11.2%
Net Margin % -------------------44.8%35.3%0.3%-6.9%--15.9%-18.7%-8.8%-1.9%
ROE % 5,100.0%1,921.1%1,068.2%478.2%377.2%311.5%197.8%143.9%-122.7%-72.3%-788.9%243.8%56.1%-53.9%-50.6%-124.1%1,147.9%-296.8%-458.3%59.1%0.6%-12.3%--51.0%-34.5%-25.1%-9.8%
ROCE % ------------14,501.7%55.2%-41.8%-50.9%-116.9%-169.3%-91.6%-67.0%-13.9%-10.2%0.8%-1.4%0.3%3.0%10.1%

Shareholding Pattern

Insiders
15.47%
Institutions
58.90%
Public Float
69.68%

Top Institutional Holders

#Holder% HeldSharesValue
1 Opaleye Management Inc. 7.60% 2.83M $99.72M
2 Blackrock Inc. 6.85% 2.55M $89.88M
3 Private Capital Management, LLC 4.19% 1.56M $55.00M
4 Vanguard Capital Management LLC 3.76% 1.40M $49.40M
5 Luxor Capital Group, LP 3.00% 1.12M $39.41M
6 State Street Corporation 2.29% 855.05K $30.11M
7 Geode Capital Management, LLC 2.29% 852.03K $30.00M
8 Marshall Wace LLP 1.73% 644.92K $22.71M
9 Dimensional Fund Advisors LP 1.55% 579.52K $20.40M
10 Ikarian Capital, LLC 1.46% 543.05K $19.12M

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