A Business at a Glance
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HARBOR DIVERSIFIED, INC.
HRBR
$92M
Mkt Cap
$2.08
+0.97%
HARBOR DIVERSIFIED, INC. (HRBR) has a 5-year average return on invested capital (ROIC) of 31.5%. This indicates strong capital allocation and a potential competitive advantage.
HARBOR DIVERSIFIED, INC. (HRBR) has a market capitalization of $122M. It is classified as a small-cap stock.
Yes, HARBOR DIVERSIFIED, INC. (HRBR) pays a dividend with a trailing twelve-month yield of 0.90%. The company also returns capital through share buybacks, with a buyback yield of 1.69%.
HARBOR DIVERSIFIED, INC. (HRBR) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
HARBOR DIVERSIFIED, INC. (HRBR) reported annual revenue of $199 million in its most recent fiscal year, based on SEC EDGAR filings.
HARBOR DIVERSIFIED, INC. (HRBR) has a net profit margin of -8.7%. The company is currently unprofitable.
HARBOR DIVERSIFIED, INC. (HRBR) generated $-17 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Harbor is a non-operating holding company that is the parent of a consolidated group of subsidiaries, including AWAC Aviation, Inc. (“AWAC”), which is the sole member of Air Wisconsin, a regional air carrier. Harbor is also the direct parent of three other subsidiaries: (1) Lotus Aviation Leasing, LLC (“Lotus”), which leases flight equipment to Air Wisconsin, (2) Air Wisconsin Funding LLC (“AWF”), which provides flight equipment financing to Air Wisconsin, and (3) Harbor Therapeutics, Inc. (“Therapeutics”), which is a non-operating entity with no material assets. For additional information, please refer to the section titled “--Organizational Structure” in this Annual Report. Because Harbor consolidates Air Wisconsin for financial statement purposes, for purposes of this Annual Report, disclosures relating to activities of Air Wisconsin also apply to Harbor, unless otherwise noted.
| Metric | TTM | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|
| Revenue | 202M | 199M | 281M | 248M | 186M | 264M |
| Net Income | -18M | -17M | 39M | 92M | 39M | -19M |
| EPS | $-0.38 | $-0.39 | $0.61 | $1.29 | $0.56 | $-0.35 |
| Free Cash Flow | 10M | -17M | 40M | 91M | 64M | 4.0M |
| ROIC | -14.2% | -8.1% | 61.9% | 79.8% | 34.2% | -10.4% |
| Gross Margin | - | 99.7% | 28.6% | 58.7% | 100.0% | 99.9% |
| Debt/Equity | 0.00 | 0.07 | 0.35 | 0.36 | 1.06 | 1.72 |
| Dividends/Share | $0.02 | $0.03 | $0.01 | $0.01 | $0.01 | $0.00 |
| Operating Income | -24M | -37M | 56M | 105M | 43M | -21M |
| Operating Margin | -12.0% | -18.5% | 19.9% | 42.5% | 23.3% | -7.9% |
| ROE | -11.5% | -9.2% | 19.7% | 44.7% | 40.2% | -24.8% |
| Shares Outstanding | 58M | 44M | 64M | 71M | 70M | 55M |
| Metric | 2009 | 2010 | 2018 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 0 | 0 | N/A | 241M | 264M | 186M | 248M | 281M | 199M | 202M |
| Gross Margin | N/A | N/A | N/A | 99.9% | 99.9% | 100.0% | 58.7% | 28.6% | 99.7% | N/A |
| R&D | 11M | 3.8M | 177M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 5.1M | 2.8M | 96M | N/A | N/A | N/A | 142M | N/A | N/A | N/A |
| EBIT | N/A | N/A | -262M | -24M | -21M | 43M | 105M | 56M | -37M | -24M |
| Op. Margin | N/A | N/A | N/A | -10.2% | -7.9% | 23.3% | 42.5% | 19.9% | -18.5% | -12.0% |
| Net Income | -16M | -6.6M | -262M | 181M | -19M | 39M | 92M | 39M | -17M | -18M |
| Net Margin | N/A | N/A | N/A | 75.4% | -7.3% | 21.0% | 37.1% | 13.9% | -8.7% | -9.0% |
| Non-Recurring | -69K | -83K | 14K | 0 | 641K | -648K | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||||
| ROIC | N/A | N/A | N/M | 88.2% | -10.4% | 34.2% | 79.8% | 61.9% | -8.1% | -14.2% |
| ROE | -97.0% | -135.7% | -8693.3% | 187.4% | -24.8% | 40.2% | 44.7% | 19.7% | -9.2% | -11.5% |
| ROA | N/A | -108.2% | -5181.9% | 64.4% | -7.0% | 12.5% | 23.0% | 11.4% | -6.0% | -8.9% |
| Cash Flow | ||||||||||
| Op. Cash Flow | -15M | -5.7M | -219M | 16M | 26M | 73M | 94M | 45M | -12M | 13M |
| Free Cash Flow | -15M | -5.7M | -222M | -16M | 4.0M | 64M | 91M | 40M | -17M | 10M |
| Owner Earnings | -16M | -6.3M | -232M | -6.5M | 308K | 46M | 68M | 19M | -38M | -13M |
| CapEx | 9K | 0 | 2.8M | 32M | 21M | 8.7M | 3.6M | 5.5M | 4.5M | 2.9M |
| Maint. CapEx | 208K | 21K | 2.2M | 22M | 25M | 27M | 27M | 26M | 26M | 26M |
| Growth CapEx | 0 | N/A | 580K | 9.4M | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 208K | 21K | 2.2M | 22M | 25M | 27M | 27M | 26M | 26M | 26M |
| CapEx/OCF | N/A | N/A | N/A | 202.5% | 84.2% | 12.0% | 3.9% | 12.2% | N/A | 21.8% |
| Capital Allocation | ||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 759K | 792K | 792K | 1.3M | 1.1M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | 12.3% | 0.7% | 0.5% | 1.4% | 0.9% |
| Share Buybacks | 0 | 0 | 346K | 0 | 0 | 0 | 2.8M | 12M | 4.5M | 2.1M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | 1.8% | 8.5% | 5.2% | 1.7% |
| Stock-Based Comp | 1.3M | 626K | 11M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 7.2M | 13M | 40M | 6.3M | 55M | 55M |
| Balance Sheet | ||||||||||
| Net Debt | -9.7M | N/A | N/A | 2.8M | -5.4M | -6.8M | -102M | -117M | -29M | -24M |
| Cash & Equiv. | 9.7M | 5.9M | 1.5M | 60M | 69M | 130M | 37M | 33M | 21M | 24M |
| Long-Term Debt | N/A | N/A | N/A | 109M | 108M | 94M | 62M | 52M | 0 | N/A |
| Debt/Equity | 0.00 | -0.75 | 1.43 | 1.27 | 1.72 | 1.06 | 0.36 | 0.35 | 0.07 | 0.00 |
| Interest Coverage | N/A | N/A | -674.9 | -1.8 | -11.6 | 25.0 | 124.2 | 18622.0 | -2458.1 | -2458.1 |
| Equity | 9.0M | 4.9M | 1.2M | 97M | 78M | 117M | 206M | 199M | 177M | 159M |
| Total Assets | -69K | 6.1M | 4.0M | 282M | 273M | 350M | 399M | 343M | 236M | 204M |
| Total Liabilities | -479K | -3.6M | 1.7M | 185M | 195M | 234M | 194M | 144M | 98M | 11M |
| Intangibles | N/A | N/A | N/A | 5.3M | 5.3M | 5.3M | 5.3M | 5.3M | 5.3M | 5.3M |
| Retained Earnings | N/A | -258M | -262M | -192M | -212M | -172M | -79M | -73M | -89M | -106M |
| Working Capital | N/A | 4.8M | -1.3M | 54M | 25M | 77M | 104M | 147M | 99M | 94M |
| Current Assets | N/A | 6.1M | 1.5M | 111M | 85M | 148M | 194M | 208M | 128M | 128M |
| Current Liabilities | N/A | 1.2M | 2.9M | 57M | 60M | 70M | 90M | 61M | 29M | 33M |
| Per Share Data | ||||||||||
| EPS | 0.53 | 0.20 | 0.11 | 3.27 | -0.35 | 0.56 | 1.29 | 0.61 | -0.39 | -0.38 |
| Owner EPS | N/A | -0.18 | -6.56 | -0.12 | 0.01 | 0.66 | 0.95 | 0.29 | -0.85 | -0.22 |
| Book Value | N/A | 0.14 | 0.03 | 1.74 | 1.41 | 1.67 | 2.89 | 3.10 | 3.98 | 2.72 |
| Cash Flow/Share | N/A | -0.16 | -6.17 | 0.28 | 0.47 | 1.05 | 1.32 | 0.70 | -0.27 | 0.13 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 | 0.01 | 0.01 | 0.01 | 0.03 | 0.02 |
| Shares Out. | N/A | 35.4M | 35.4M | 55.4M | 54.9M | 69.7M | 71.2M | 64.1M | 44.4M | 58.5M |
| Valuation | ||||||||||
| P/E Ratio | N/A | N/A | N/A | 0.0 | N/A | 0.6 | 1.7 | 20.5 | N/A | -5.5 |
| P/FCF | N/A | N/A | N/A | N/A | 0.4 | 0.3 | 1.7 | 3.7 | N/A | 11.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | 0.2 | 0.4 | 11.2 | N/A | N/A |
| Price/Book | N/A | N/A | N/A | 0.0 | 0.0 | 0.2 | 0.8 | 0.7 | 0.5 | 0.8 |
| Price/Sales | N/A | N/A | N/A | 0.0 | 0.0 | 0.0 | 0.4 | 0.6 | 0.5 | 0.6 |
| FCF Yield | N/A | N/A | N/A | -1441.5% | 245.8% | 298.4% | 58.4% | 28.8% | -19.0% | 8.5% |
| Market Cap | 0 | 0 | 0 | 1.1M | 1.6M | 22M | 155M | 137M | 87M | 122M |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.03 | 0.04 | 0.09 | 1.54 | 2.33 | 2.09 | 2.08 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.02 | 0.03 | 0.31 | 2.18 | 2.25 | 1.96 | 2.08 |
HARBOR DIVERSIFIED, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 20.4x vs a median of 1.1x. The company's 5-year average ROIC is 31.5% with a gross margin of 77.4%. Total shareholder yield (dividends + buybacks) is 2.6%. At current prices, the estimated annualized return to fair value is -23.1%.
HARBOR DIVERSIFIED, INC. (HRBR) has a debt-to-equity ratio of 0.07. This indicates a conservatively financed balance sheet.
HARBOR DIVERSIFIED, INC. (HRBR) reported earnings per share (EPS) of $-0.39 in its most recent fiscal year.
HARBOR DIVERSIFIED, INC. (HRBR) has a return on equity (ROE) of -9.2%. A negative ROE may indicate losses or negative equity.
HARBOR DIVERSIFIED, INC. (HRBR) has a 5-year average gross margin of 77.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 9 years of financial data for HARBOR DIVERSIFIED, INC. (HRBR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HARBOR DIVERSIFIED, INC. (HRBR) has a book value per share of $3.98, based on its most recent annual SEC filing.