A Business at a Glance
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HAEMONETICS CORP
HAE
$3.7B
Mkt Cap
$78.78
+1.78%
HAEMONETICS CORP (HAE) has a current P/E ratio of 21.7, compared to its historical median P/E of 69.8. The stock is currently considered Cheap based on its historical valuation range.
HAEMONETICS CORP (HAE) has a 5-year average return on invested capital (ROIC) of 8.4%. This is below average and may indicate limited pricing power.
HAEMONETICS CORP (HAE) has a market capitalization of $3.7B. It is classified as a mid-cap stock.
HAEMONETICS CORP (HAE) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 4.68%.
Based on historical P/E analysis, HAEMONETICS CORP (HAE) appears cheap. The current P/E of 21.7 is 69% below its historical median of 69.8. The estimated fair value CAGR (P/E method) is 13.2%.
HAEMONETICS CORP (HAE) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
HAEMONETICS CORP (HAE) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Haemonetics is a global medical technology company operating through three principal segments: Plasma, Blood Center, and Hospital. The Plasma segment provides automated plasma collection systems, donor management software, and supporting software solutions for source plasma collection used in pharmaceutical fractionation, serving vertically integrated biopharmaceutical companies such as CSL, Grifols, Octapharma, and Takeda's BioLife Plasma subsidiary. The Blood Center segment supplies blood collection and processing devices and disposables for plasma, red cells, and platelets, primarily serving blood centers like the American Red Cross. The Hospital segment comprises Interventional Technologies (Vascular Closure, Sensor-Guided Technologies, and Esophageal Protection) and Blood Management Technologies (Hemostasis Management, Cell Salvage, and Transfusion Management). The company's business model is built on recurring revenue from consumable disposables and software solutions, with strong unit economics driven by high-margin innovation platforms including NexSys in Plasma, TEG in Blood Management, and VASCADE in Vascular Closure. Haemonetics distributes its products globally, with particular strength in the United States, which accounts for over half of global plasma volume demand, and maintains competitive advantages through proprietary patent-protected technology, category leadership, and differentiated innovation. The company views Plasma and Hospital as having the greatest growth potential, while Blood Center operates in more challenging markets with a sharpened focus on targeted opportunities in plasma and platelets.
【Margin expansion and growth acceleration】 Management expects fiscal 2027 to mark a return to consistent growth following portfolio transitions, with adjusted operating margin expanding 50 to 100 basis points driven by gross margin improvement from the Plasma innovation cycle including Persona PLUS, favorable mix shift as Hospital contributes higher-margin growth, and operating leverage as revenue growth outpaces expense growth. In Plasma, mid-single-digit growth is anticipated from controllable drivers including share gains and Persona PLUS rollout, with upside if collection trends remain strong or adoption accelerates, while Blood Center is expected to decline in the mid-single digits due to ongoing portfolio rationalization. Hospital is projected to deliver mid-single-digit growth with both franchises contributing, supported by continued TEG 6s installed base expansion and increased HN cartridge utilization in Blood Management Technologies, while Interventional Technologies is expected to return to growth with improved commercial dynamics and a more competitive portfolio including the VASCADE MVP XL label expansion and anticipated PerQseal Elite launch. The company expects free cash flow conversion of approximately 80% and disciplined capital deployment to support organic investment, deleveraging, and opportunistic share buybacks.
| Metric | Target | Period |
|---|---|---|
| Revenue growth | 4%-7% reported, 3%-6% organic | FY2027 |
| Adjusted operating margin | 50 to 100 basis points expansion | FY2027 |
| Adjusted EPS | Broadly in line with revenue growth | FY2027 |
| Free cash flow conversion | Approximately 80% | FY2027 |
Revenue growth (FY2027): “we expect fiscal 2027 revenue growth of 4%-7% reported and 3%-6% organic”
Adjusted operating margin (FY2027): “we expect continued margin expansion with adjusted operating margin improving 50 to 100 basis points year-over-year”
Adjusted EPS (FY2027): “we expect adjusted EPS to grow broadly in line with revenue”
Free cash flow conversion (FY2027): “We expect free cash flow conversion of approximately 80%”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.4B | 1.3B | 1.2B | 993M |
| Net Income | 97M | 97M | 168M | 118M | 115M | 43M |
| EPS | $2.05 | $2.05 | $3.31 | $2.29 | $2.24 | $0.84 |
| Free Cash Flow | 260M | 260M | 142M | 144M | 82M | 76M |
| ROIC | 6.7% | 7.4% | 10.6% | 8.9% | 10.8% | 4.4% |
| Gross Margin | 59.0% | 59.0% | 55.0% | 52.8% | 52.6% | 50.9% |
| Debt/Equity | 1.54 | 1.54 | 1.49 | 0.84 | 0.94 | 1.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 157M | 157M | 222M | 165M | 156M | 81M |
| Operating Margin | 11.7% | 11.7% | 16.3% | 12.6% | 13.4% | 8.1% |
| ROE | 12.2% | 12.0% | 18.8% | 13.2% | 14.7% | 5.9% |
| Shares Outstanding | 47M | 47M | 51M | 51M | 52M | 52M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 910M | 909M | 886M | 904M | 968M | 988M | 870M | 993M | 1.2B | 1.3B | 1.4B | 1.3B | 1.3B |
| Gross Margin | 47.7% | 44.7% | 42.7% | 45.6% | 43.2% | 49.0% | 45.7% | 50.9% | 52.6% | 52.8% | 55.0% | 59.0% | 59.0% |
| R&D | 54M | 45M | 38M | 39M | 36M | 31M | 33M | 47M | 50M | 54M | 63M | 60M | 60M |
| SG&A | 337M | 317M | 302M | 317M | 298M | 300M | 274M | 340M | 377M | 430M | 437M | 442M | 442M |
| EBIT | 41M | -44M | -19M | 56M | 84M | 103M | 90M | 81M | 156M | 165M | 222M | 157M | 157M |
| Op. Margin | 4.5% | -4.8% | -2.2% | 6.2% | 8.6% | 10.5% | 10.3% | 8.1% | 13.4% | 12.6% | 16.3% | 11.7% | 11.7% |
| Net Income | 17M | -56M | -26M | 46M | 55M | 77M | 79M | 43M | 115M | 118M | 168M | 97M | 97M |
| Net Margin | 1.9% | -6.1% | -3.0% | 5.0% | 5.7% | 7.7% | 9.1% | 4.4% | 9.9% | 9.0% | 12.3% | 7.3% | 7.3% |
| Non-Recurring | 37M | 115M | 80M | 88M | 395K | 54M | 23M | -5.4M | 275K | 12M | 30M | 90M | 90M |
| Returns on Capital | |||||||||||||
| ROIC | 2.3% | -5.1% | -2.6% | 5.1% | 8.8% | 12.3% | 8.4% | 4.4% | 10.8% | 8.9% | 10.6% | 7.4% | 6.7% |
| ROE | 2.0% | -7.7% | -3.6% | 6.1% | 8.2% | 12.2% | 10.9% | 5.9% | 14.7% | 13.2% | 18.8% | 12.0% | 12.2% |
| ROA | 1.1% | -4.2% | -2.1% | 3.7% | 4.3% | 6.0% | 4.4% | 2.4% | 6.1% | 5.7% | 7.2% | 4.0% | 4.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 127M | 122M | 160M | 220M | 159M | 158M | 109M | 172M | 273M | 182M | 182M | 293M | 293M |
| Free Cash Flow | 5.0M | 19M | 84M | 146M | 40M | 109M | 72M | 76M | 82M | 144M | 142M | 260M | 260M |
| Owner Earnings | 27M | 25M | 61M | 118M | 33M | 27M | -998K | 50M | 154M | 56M | 37M | 148M | 148M |
| CapEx | 122M | 102M | 76M | 75M | 119M | 49M | 37M | 97M | 191M | 38M | 39M | 33M | 33M |
| Maint. CapEx | 86M | 90M | 90M | 89M | 109M | 110M | 84M | 98M | 93M | 97M | 116M | 112M | 112M |
| Growth CapEx | 36M | 12M | 0 | 0 | 9.5M | 0 | 0 | 0 | 98M | 0 | 0 | 0 | 0 |
| D&A | 86M | 90M | 90M | 89M | 109M | 110M | 84M | 98M | 93M | 97M | 116M | 112M | 112M |
| CapEx/OCF | 96.1% | 84.0% | 47.7% | 33.9% | 74.7% | 30.8% | 34.0% | 56.0% | 40.4% | 21.0% | 21.6% | N/A | 11.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 39M | 61M | 0 | 100M | 160M | 175M | 0 | 0 | 75M | 0 | 225M | 175M | 175M |
| Buyback Yield | 1.7% | 3.5% | N/A | 2.6% | 3.5% | 3.4% | N/A | N/A | 1.8% | N/A | 7.0% | 0.0% | 4.7% |
| Stock-Based Comp | 14M | 6.9M | 9.2M | 13M | 17M | 20M | 26M | 24M | 26M | 28M | 30M | 34M | 34M |
| Debt Repayment | 8.5M | 21M | 43M | 62M | 267M | 13M | 22M | 18M | 9.6M | 12M | 4.7M | 300M | 300M |
| Balance Sheet | |||||||||||||
| Net Debt | 267M | 221M | 97M | 88M | 39M | 185M | 340M | 514M | 481M | 629M | 918M | 979M | 979M |
| Cash & Equiv. | 161M | 115M | 140M | 180M | 169M | 137M | 192M | 259M | 284M | 179M | 307M | 245M | 245M |
| Long-Term Debt | 406M | 365M | 254M | 59M | 322M | 306M | 691M | 559M | 754M | 798M | 921M | 1.2B | 1.2B |
| Debt/Equity | 0.52 | 0.63 | 0.51 | 0.60 | 0.57 | 0.78 | 0.99 | 1.03 | 0.94 | 0.84 | 1.49 | 1.54 | 1.54 |
| Interest Coverage | 4.8 | -5.2 | -2.5 | 7.3 | 6.4 | 8.2 | 11.5 | 13.9 | 12.0 | 8.5 | 6.2 | 8.1 | 8.1 |
| Equity | 826M | 722M | 740M | 752M | 668M | 587M | 732M | 749M | 818M | 960M | 821M | 796M | 796M |
| Total Assets | 1.5B | 1.3B | 1.2B | 1.2B | 1.3B | 1.3B | 1.8B | 1.9B | 1.9B | 2.2B | 2.5B | 2.4B | 2.4B |
| Total Liabilities | 659M | 598M | 499M | 485M | 607M | 680M | 1.1B | 1.1B | 1.1B | 1.2B | 1.6B | 1.6B | 1.6B |
| Intangibles | 245M | 204M | 178M | 157M | 128M | 133M | 365M | 310M | 276M | 406M | 456M | 448M | 448M |
| Retained Earnings | 420M | 316M | 290M | 267M | 161M | 79M | 158M | 202M | 253M | 360M | 352M | 279M | 279M |
| Working Capital | 369M | 303M | 299M | 136M | 340M | 329M | 440M | 314M | 518M | 469M | 357M | 552M | 552M |
| Current Assets | 558M | 488M | 510M | 521M | 576M | 604M | 694M | 756M | 770M | 769M | 935M | 835M | 835M |
| Current Liabilities | 189M | 186M | 211M | 385M | 236M | 275M | 253M | 442M | 252M | 300M | 578M | 283M | 283M |
| Per Share Data | |||||||||||||
| EPS | 0.32 | -1.09 | -0.51 | 0.85 | 1.04 | 1.48 | 1.55 | 0.84 | 2.24 | 2.29 | 3.31 | 2.05 | 2.05 |
| Owner EPS | 0.51 | 0.49 | 1.18 | 2.20 | 0.62 | 0.53 | -0.02 | 0.97 | 2.99 | 1.09 | 0.72 | 3.11 | 3.11 |
| Book Value | 15.65 | 14.15 | 14.36 | 14.03 | 12.62 | 11.35 | 14.27 | 14.51 | 15.88 | 18.70 | 16.20 | 16.78 | 16.78 |
| Cash Flow/Share | 2.41 | 2.39 | 3.10 | 4.11 | 3.01 | 3.06 | 2.12 | 3.34 | 5.30 | 3.54 | 3.59 | 6.18 | 4.40 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 52.8M | 51.0M | 51.5M | 53.6M | 52.9M | 51.7M | 51.3M | 51.6M | 51.5M | 51.3M | 50.7M | 47.5M | 47.5M |
| Valuation | |||||||||||||
| P/E Ratio | 138.2 | N/A | N/A | 85.7 | 82.4 | 68.2 | 74.9 | 71.5 | 35.3 | 37.3 | 19.1 | N/A | 38.4 |
| P/FCF | 470.8 | 88.4 | 24.5 | 26.8 | 112.4 | 47.7 | 83.0 | 40.9 | 49.9 | 30.5 | 22.5 | N/A | 14.4 |
| EV/EBIT | 60.7 | N/A | N/A | 71.1 | 54.7 | 52.3 | 70.1 | 44.2 | 27.5 | 29.4 | 18.6 | N/A | 30.1 |
| Price/Book | 2.8 | 2.4 | 2.8 | 5.2 | 6.8 | 8.9 | 8.1 | 4.1 | 5.0 | 4.6 | 3.9 | N/A | 4.7 |
| Price/Sales | 2.1 | 2.0 | 2.0 | 3.0 | 5.2 | 6.0 | 6.2 | 3.3 | 3.2 | 3.3 | 3.0 | N/A | 2.8 |
| FCF Yield | 0.2% | 1.1% | 4.1% | 3.7% | 0.9% | 2.1% | 1.2% | 2.4% | 2.0% | 3.3% | 4.4% | N/A | 7.0% |
| Market Cap | 2.3B | 1.7B | 2.0B | 3.9B | 4.5B | 5.2B | 6.0B | 3.1B | 4.1B | 4.4B | 3.2B | 0 | 3.7B |
| Avg. Price | 36.74 | 36.24 | 35.22 | 50.58 | 95.84 | 113.79 | 104.61 | 62.92 | 72.82 | 84.69 | 79.50 | 0.00 | 78.78 |
| Year-End Price | 44.21 | 33.73 | 39.73 | 72.84 | 85.67 | 100.95 | 116.15 | 60.02 | 79.13 | 85.35 | 63.19 | 0.00 | 78.78 |
HAEMONETICS CORP passes 5 of 9 quality checks, suggesting mixed fundamentals.
HAEMONETICS CORP trades at 21.7x trailing earnings, compared to its 15-year median P/E of 69.8x, suggesting it is currently Cheap relative to its historical range. On a free-cash-flow basis, the stock trades at 11.9x vs a median of 35.7x. The company's 5-year average ROIC is 8.4% with a gross margin of 54.1%. Total shareholder yield (buybacks) is 4.7%. At current prices, the estimated annualized return to fair value is +11.0%.
HAEMONETICS CORP (HAE) has a net profit margin of 7.3%. This is a modest margin.
HAEMONETICS CORP (HAE) generated $260 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HAEMONETICS CORP (HAE) has a debt-to-equity ratio of 1.54. This indicates higher leverage, which may increase financial risk.
HAEMONETICS CORP (HAE) reported earnings per share (EPS) of $2.05 in its most recent fiscal year.
HAEMONETICS CORP (HAE) has a return on equity (ROE) of 12.0%. This indicates moderate shareholder returns.
HAEMONETICS CORP (HAE) has a 5-year average gross margin of 54.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for HAEMONETICS CORP (HAE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HAEMONETICS CORP (HAE) has a book value per share of $16.78, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects fiscal 2027 to mark a return to consistent growth following portfolio transitions, with adjusted operating margin expanding 50 to 100 basis points driven by gross margin improvement from the Plasma innovation cycle including Persona PLUS, favorable mix shift as Hospital contributes higher-margin growth, and operating leverage as revenue growth outpaces expense growth. In Plasma, mid-single-digit growth is anticipated from controllable drivers including share gains and Persona PLUS rollout, with upside if collection trends remain strong or adoption accelerates, while Blood Center is expected to decline in the mid-single digits due to ongoing portfolio rationalization. Hospital is projected to deliver mid-single-digit growth with both franchises contributing, supported by continued TEG 6s installed base expansion and increased HN cartridge utilization in Blood Management Technologies, while Interventional Technologies is expected to return to growth with improved commercial dynamics and a more competitive portfolio including the VASCADE MVP XL label expansion and anticipated PerQseal Elite launch. The company expects free cash flow conversion of approximately 80% and disciplined capital deployment to support organic investment, deleveraging, and opportunistic share buybacks.
Based on recent SEC filings and earnings calls, HAEMONETICS CORP (HAE) has provided the following forward guidance: Revenue growth: 4%-7% reported, 3%-6% organic (FY2027); Adjusted operating margin: 50 to 100 basis points expansion (FY2027); Adjusted EPS: Broadly in line with revenue growth (FY2027); Free cash flow conversion: Approximately 80% (FY2027).
No recent press releases.