Symbols / HBIO $5.53 +6.35% Harvard Bioscience, Inc.

Healthcare • Medical Instruments & Supplies • United States • NCM
HBIO Chart
About

Harvard Bioscience, Inc. develops, manufactures, and sells technologies, products, and services for life science applications in the Americas, Europe, the Middle East, Africa, Asia, and internationally. The company offers cellular and molecular technology products, such as syringe and peristaltic infusion pump products; electroporation and electrofusion instruments, amino acid analyzers, spectrophotometers, and other equipment for molecular level testing and research; and precision scientific measuring instrumentation and equipment, including data acquisition systems for cellular analysis, complete micro electrode array solutions for in vivo recordings, and in vitro systems for extracellular recordings. It provides preclinical products that includes platform to assess physiological data from organisms for research, drug discovery, and drug development services comprising implantable and externally worn telemetry systems for use in research to collect cardiovascular, central nervous system, respiratory, and metabolic data; behavioral products; isolated organ and surgical products, instruments and accessories for tissue, and organ-based lab research, including surgical products, infusion systems, and behavior research systems; turn-key respiratory system solutions, including plethysmograph chambers, data acquisition hardware, physiological signal analysis software, and final report generation; inhalation and exposure systems; and GLP-capable data acquisition and analysis systems. The company markets its products through websites and distributors to research scientists in pharmaceutical and biotechnology companies, universities, hospitals, and government laboratories; and contract research organizations and academic laboratories. It primarily sells its products under the Harvard Apparatus, Biochrom, BTX, HEKA, KD Scientific, MCS, Warner, DSI, Panlab, Hugo Sachs, and Buxco brands. Harvard Bioscience, Inc. was founded in 1901 and is based in Holliston, Massachusetts.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Instruments & Su Market Cap 24.73M
Enterprise Value 58.92M Income -56.70M Sales 86.55M
Book/sh 3.07 Cash/sh 1.93 Dividend Yield —
Payout 0.00% Employees 316 IPO —
P/E — Forward P/E 6.91 PEG —
P/S 0.29 P/B 1.80 P/C —
EV/EBITDA 7.92 EV/Sales 0.68 Quick Ratio 1.12
Current Ratio 2.20 Debt/Eq 322.39 LT Debt/Eq —
EPS (ttm) -12.80 EPS next Y 0.80 EPS Growth —
Revenue Growth -3.30% Earnings 2026-05-11 ROA 0.91%
ROE -147.13% ROIC — Gross Margin 57.67%
Oper. Margin 14.01% Profit Margin -65.51% Shs Outstand 4.47M
Shs Float 3.46M Short Float 1.41% Short Ratio 1.41
Short Interest — 52W High 9.50 52W Low 2.80
Beta 1.50 Avg Volume 48.96K Volume 56.26K
Target Price $6.00 Recom None Prev Close $5.20
Price $5.53 Change 6.35%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$6.00
Mean price target
2. Current target
$5.53
Latest analyst target
3. DCF / Fair value
$40.70
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$5.53
Low
$6.00
High
$6.00
Mean
$6.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-16 main Benchmark Speculative Buy → Speculative Buy $6
2026-03-13 main Benchmark Speculative Buy → Speculative Buy $1
2025-09-10 main Benchmark Speculative Buy → Speculative Buy $2
2025-05-13 main Benchmark Speculative Buy → Speculative Buy $3
2025-04-09 down Keybanc Overweight → Sector Weight —
2025-04-08 down Keybanc Overweight → Sector Weight —
2025-03-24 main Benchmark Speculative Buy → Speculative Buy $5
2023-06-22 reit Benchmark Speculative Buy → Speculative Buy $7
2023-04-26 main Benchmark — → Buy $7
2023-04-26 main Keybanc — → Overweight $7
2023-03-10 reit Benchmark — → Buy $4
2022-11-09 main Keybanc — → Overweight $5
2022-08-05 main Keybanc — → Overweight $7
2020-11-10 init Keybanc — → Overweight $6
2020-02-27 main Benchmark — → Speculative Buy $4
2016-11-17 init Singular Research — → Buy $6
2015-07-28 init Benchmark — → Buy $8
2013-11-26 up Sidoti & Co. Neutral → Buy —
News
RSS: Latest HBIO news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-12-17 SNIDER WILLIAM Director — 110,000 $0.00 $0
2025-09-05 DENELSKY STEPHEN J Director — 110,000 $0.00 $0
2025-08-08 DUKE JOHN D. Chief Executive Officer — 1,000,000 $0.00 $0
2025-07-16 GAGNON ROBERT E Director — 110,000 $0.00 $0
2025-07-16 EADE KATHERINE ANNE Director — 110,000 $0.00 $0
2025-07-16 BENSON SETH BENJAMIN Director — 110,000 $0.00 $0
2025-05-12 FROST MARK T Chief Financial Officer — 100,000 $0.00 $0
2024-06-13 GREEN JAMES W Chief Executive Officer — 10,000 $2.91 $29,100
2024-06-06 GREEN JAMES W Chief Executive Officer — 20,000 $3.07 $61,400
2024-05-21 LOEWALD THOMAS W Director — 45,872 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
86.55
-8.06%
94.14
-16.14%
112.25
-0.96%
113.33
Operating Revenue
86.55
-8.06%
94.14
-16.14%
112.25
-0.96%
113.33
Cost Of Revenue
36.64
-6.93%
39.37
-14.75%
46.18
-12.07%
52.52
Reconciled Cost Of Revenue
34.72
-7.33%
37.47
-16.19%
44.71
-12.45%
51.06
Gross Profit
49.91
-8.87%
54.77
-17.11%
66.07
+8.64%
60.82
Operating Expense
49.81
-18.31%
60.98
-4.99%
64.18
-5.60%
67.98
Research And Development
8.82
-15.19%
10.41
-11.54%
11.76
-4.58%
12.33
Selling General And Administration
36.96
-15.44%
43.70
-6.65%
46.82
-5.49%
49.53
Selling And Marketing Expense
19.22
-13.49%
22.21
-7.68%
24.06
-3.92%
25.04
General And Administrative Expense
17.74
-17.45%
21.49
-5.55%
22.76
-7.09%
24.49
Other Gand A
17.74
-17.45%
21.49
-5.55%
22.76
-7.09%
24.49
Other Operating Expenses
—
1.61
+2169.01%
0.07
—
Total Expenses
86.45
-13.85%
100.35
-9.07%
110.36
-8.42%
120.50
Operating Income
0.10
+101.61%
-6.21
-427.93%
1.89
+126.43%
-7.17
Total Operating Income As Reported
-48.58
-682.16%
-6.21
-427.93%
1.89
+127.32%
-6.93
EBITDA
-46.52
-4686.42%
-0.97
-112.10%
8.03
+750.95%
0.94
Normalized EBITDA
2.16
+247.18%
0.62
-92.83%
8.66
+1118.71%
0.71
Reconciled Depreciation
5.95
-16.93%
7.16
+2.27%
7.00
-7.62%
7.58
EBIT
-52.47
-545.45%
-8.13
-885.41%
1.03
+115.61%
-6.63
Total Unusual Items
-48.68
-2955.87%
-1.59
-152.06%
-0.63
-371.24%
0.23
Total Unusual Items Excluding Goodwill
-48.68
-2955.87%
-1.59
-152.06%
-0.63
-371.24%
0.23
Special Income Charges
-48.68
0.00
0.00
-100.00%
0.23
Other Special Charges
0.54
—
—
-0.23
Impairment Of Capital Assets
47.95
0.00
—
—
Restructuring And Mergern Acquisition
0.19
—
—
—
Net Income
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Pretax Income
-57.39
-391.95%
-11.66
-356.38%
-2.56
+72.15%
-9.18
Net Non Operating Interest Income Expense
-4.92
-39.06%
-3.54
+1.53%
-3.59
-40.93%
-2.55
Interest Expense Non Operating
4.92
+39.06%
3.54
-1.53%
3.59
+40.93%
2.55
Net Interest Income
-4.92
-39.06%
-3.54
+1.53%
-3.59
-40.93%
-2.55
Interest Expense
4.92
+39.06%
3.54
-1.53%
3.59
+40.93%
2.55
Other Income Expense
-52.57
-2640.82%
-1.92
-123.28%
-0.86
-260.56%
0.54
Other Non Operating Income Expenses
-3.89
-1096.62%
-0.33
-43.17%
-0.23
-175.17%
0.30
Gain On Sale Of Security
—
-1.59
-152.06%
-0.63
—
Tax Provision
-0.69
-192.70%
0.74
-13.85%
0.86
+154.90%
0.34
Tax Rate For Calcs
0.00
-94.76%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
-0.54
-60.07%
-0.33
-152.06%
-0.13
-371.24%
0.05
Net Income Including Noncontrolling Interests
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Net Income From Continuing Operation Net Minority Interest
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Net Income From Continuing And Discontinued Operation
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Net Income Continuous Operations
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Normalized Income
-8.56
+23.25%
-11.15
-282.29%
-2.92
+69.94%
-9.70
Net Income Common Stockholders
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Diluted EPS
-1.28
+54.29%
-2.80
-250.00%
-0.80
+65.22%
-2.30
Basic EPS
-1.28
+54.29%
-2.80
-250.00%
-0.80
+65.22%
-2.30
Basic Average Shares
44.39
+919.59%
4.35
+2.64%
4.24
+2.43%
4.14
Diluted Average Shares
44.39
+919.59%
4.35
+2.64%
4.24
+2.43%
4.14
Diluted NI Availto Com Stockholders
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Amortization
4.03
-23.37%
5.25
-4.89%
5.53
-9.75%
6.12
Amortization Of Intangibles Income Statement
4.03
-23.37%
5.25
-4.89%
5.53
-9.75%
6.12
Depreciation Amortization Depletion Income Statement
4.03
-23.37%
5.25
-4.89%
5.53
-9.75%
6.12
Depreciation And Amortization In Income Statement
4.03
-23.37%
5.25
-4.89%
5.53
-9.75%
6.12
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
80.07
-36.77%
126.64
-7.81%
137.37
-5.50%
145.36
Current Assets
48.23
+6.89%
45.12
-8.00%
49.04
-4.08%
51.12
Cash Cash Equivalents And Short Term Investments
8.61
+109.69%
4.11
-4.09%
4.28
-4.99%
4.51
Cash And Cash Equivalents
8.61
+109.69%
4.11
-4.09%
4.28
-4.99%
4.51
Receivables
16.04
+7.92%
14.87
-7.66%
16.10
-3.63%
16.70
Accounts Receivable
16.04
+7.92%
14.87
-7.66%
16.10
-3.63%
16.70
Gross Accounts Receivable
16.25
+7.75%
15.08
-7.25%
16.26
-3.77%
16.90
Allowance For Doubtful Accounts Receivable
-0.21
+3.72%
-0.21
-34.38%
-0.16
+16.23%
-0.19
Inventory
20.80
-10.50%
23.25
-5.95%
24.72
-6.52%
26.44
Raw Materials
12.17
-20.28%
15.27
-0.90%
15.41
-11.65%
17.44
Work In Process
3.26
+18.45%
2.75
-34.24%
4.19
+10.91%
3.78
Finished Goods
5.37
+2.85%
5.22
+1.99%
5.12
-1.97%
5.22
Other Current Assets
2.76
-4.66%
2.90
-26.45%
3.94
+13.48%
3.47
Total Non Current Assets
31.85
-60.94%
81.53
-7.70%
88.33
-6.27%
94.24
Net PPE
11.96
+6.42%
11.24
+28.38%
8.75
-4.66%
9.18
Gross PPE
30.07
+11.15%
27.06
+16.94%
23.14
-3.70%
24.03
Accumulated Depreciation
-18.12
-14.51%
-15.82
-9.98%
-14.38
+3.11%
-14.85
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
20.24
+10.22%
18.36
+15.12%
15.95
+1.55%
15.71
Other Properties
7.17
+16.96%
6.13
+28.47%
4.77
-17.93%
5.82
Leases
2.67
+3.94%
2.56
+6.12%
2.42
-3.59%
2.51
Goodwill And Other Intangible Assets
17.20
-74.50%
67.46
-7.72%
73.10
-5.40%
77.27
Goodwill
9.56
-83.03%
56.32
-1.30%
57.06
+1.43%
56.26
Other Intangible Assets
7.64
-31.38%
11.13
-30.58%
16.04
-23.69%
21.01
Other Non Current Assets
2.69
-5.08%
2.83
-56.23%
6.47
-16.80%
7.78
Total Liabilities Net Minority Interest
66.34
+4.79%
63.30
-1.54%
64.29
-12.10%
73.14
Current Liabilities
21.96
-60.04%
54.96
+107.06%
26.54
+14.16%
23.25
Payables And Accrued Expenses
3.65
-23.71%
4.79
-13.81%
5.55
-13.85%
6.45
Payables
3.65
-23.71%
4.79
-13.81%
5.55
-13.85%
6.45
Accounts Payable
3.65
-23.71%
4.79
-13.81%
5.55
-13.85%
6.45
Pensionand Other Post Retirement Benefit Plans Current
1.81
+5.89%
1.71
-56.38%
3.93
+13.03%
3.48
Total Tax Payable
—
—
—
0.00
Income Tax Payable
—
—
—
0.00
Current Debt And Capital Lease Obligation
1.52
-96.00%
38.11
+423.90%
7.28
+22.35%
5.95
Current Debt
—
36.96
+530.76%
5.86
+53.74%
3.81
Other Current Borrowings
—
36.96
+530.76%
5.86
+53.74%
3.81
Current Capital Lease Obligation
1.52
+31.69%
1.16
-18.22%
1.42
-33.68%
2.13
Current Deferred Liabilities
3.45
-9.43%
3.81
-15.57%
4.51
+33.77%
3.37
Current Deferred Revenue
3.45
-9.43%
3.81
-15.57%
4.51
+33.77%
3.37
Other Current Liabilities
11.52
+76.24%
6.54
+23.90%
5.28
+31.57%
4.01
Total Non Current Liabilities Net Minority Interest
44.38
+431.72%
8.35
-77.89%
37.75
-24.34%
49.89
Long Term Debt And Capital Lease Obligation
42.75
+569.99%
6.38
-82.02%
35.50
-26.50%
48.30
Long Term Debt
35.87
—
30.70
-28.62%
43.01
Long Term Capital Lease Obligation
6.88
+7.85%
6.38
+33.10%
4.79
-9.24%
5.28
Non Current Deferred Liabilities
0.32
-55.35%
0.71
-8.51%
0.78
+31.53%
0.59
Non Current Deferred Taxes Liabilities
0.32
-55.35%
0.71
-8.51%
0.78
+31.53%
0.59
Other Non Current Liabilities
1.31
+4.22%
1.25
-14.97%
1.48
+46.72%
1.01
Stockholders Equity
13.73
-78.32%
63.34
-13.32%
73.07
+1.18%
72.22
Common Stock Equity
13.73
-78.32%
63.34
-13.32%
73.07
+1.18%
72.22
Capital Stock
0.45
+1.36%
0.44
+1.61%
0.43
-4.41%
0.45
Common Stock
0.45
+1.36%
0.44
+1.61%
0.43
-4.41%
0.45
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
4.47
+1.46%
4.41
+1.57%
4.34
+3.12%
4.21
Ordinary Shares Number
4.47
+1.46%
4.41
+1.57%
4.34
+3.12%
4.21
Additional Paid In Capital
239.67
+1.31%
236.58
+1.78%
232.44
+1.50%
229.01
Retained Earnings
-214.71
-35.88%
-158.01
-8.52%
-145.60
-2.40%
-142.19
Gains Losses Not Affecting Retained Earnings
-11.67
+25.51%
-15.67
-10.43%
-14.19
+5.73%
-15.05
Treasury Stock
—
—
—
0.00
Other Equity Adjustments
-11.67
+25.51%
-15.67
-10.43%
-14.19
+5.73%
-15.05
Total Equity Gross Minority Interest
13.73
-78.32%
63.34
-13.32%
73.07
+1.18%
72.22
Total Capitalization
49.60
-21.69%
63.34
-38.97%
103.78
-9.94%
115.23
Working Capital
26.27
+366.89%
-9.84
-143.75%
22.50
-19.30%
27.88
Invested Capital
49.60
-50.54%
100.30
-8.52%
109.64
-7.90%
119.04
Total Debt
44.28
-0.49%
44.49
+4.03%
42.77
-21.14%
54.24
Net Debt
27.26
-17.02%
32.85
+1.76%
32.28
-23.72%
42.32
Capital Lease Obligations
8.41
+11.51%
7.54
+21.40%
6.21
-16.27%
7.42
Net Tangible Assets
-3.46
+15.84%
-4.12
-15144.44%
-0.03
+99.47%
-5.05
Tangible Book Value
-3.46
+15.84%
-4.12
-15144.44%
-0.03
+99.47%
-5.05
Current Provisions
—
—
—
0.27
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
6.73
+367.29%
1.44
-89.73%
14.03
+1117.71%
1.15
Cash Flow From Continuing Operating Activities
6.73
+367.29%
1.44
-89.73%
14.03
+1117.71%
1.15
Net Income From Continuing Operations
-56.70
-357.07%
-12.40
-263.25%
-3.42
+64.11%
-9.52
Depreciation Amortization Depletion
5.95
-16.93%
7.16
+2.27%
7.00
-7.62%
7.58
Depreciation
1.74
+0.93%
1.73
+17.24%
1.47
+1.38%
1.45
Amortization Cash Flow
4.20
-22.62%
5.43
-1.72%
5.53
-9.75%
6.12
Depreciation And Amortization
5.95
-16.93%
7.16
+2.27%
7.00
-7.62%
7.58
Amortization Of Intangibles
4.20
-22.62%
5.43
-1.72%
5.53
-9.75%
6.12
Other Non Cash Items
1.32
+304.28%
0.33
+16.79%
0.28
+107.73%
-3.62
Pension And Employee Benefit Expense
1.23
0.00
—
—
Stock Based Compensation
1.85
-57.26%
4.34
-13.20%
5.00
+13.35%
4.41
Asset Impairment Charge
47.95
0.00
—
—
Deferred Tax
-0.68
-287.33%
0.36
+8.04%
0.34
+181.16%
-0.41
Deferred Income Tax
-0.68
-287.33%
0.36
+8.04%
0.34
+181.16%
-0.41
Operating Gains Losses
1.36
-14.44%
1.59
+595.63%
0.23
—
Gain Loss On Investment Securities
—
1.59
+152.06%
0.63
—
Unrealized Gain Loss On Investment Securities
—
—
0.63
0.00
Change In Working Capital
5.67
+8627.69%
0.07
-98.59%
4.60
+69.37%
2.72
Change In Receivables
-0.93
-195.89%
0.97
+20.25%
0.81
-83.05%
4.78
Changes In Account Receivables
-0.93
-195.89%
0.97
+20.25%
0.81
-83.05%
4.78
Change In Inventory
2.95
+4704.69%
-0.06
-104.20%
1.52
+504.76%
0.25
Change In Payables And Accrued Expense
2.30
+228.85%
-1.78
-241.30%
-0.52
+62.62%
-1.40
Change In Payable
2.30
+228.85%
-1.78
-241.30%
-0.52
+62.62%
-1.40
Change In Account Payable
2.30
+228.85%
-1.78
-241.30%
-0.52
+62.62%
-1.40
Change In Other Working Capital
-0.16
+77.07%
-0.70
-161.69%
1.14
+227.01%
-0.90
Change In Other Current Assets
1.52
-7.37%
1.64
-0.55%
1.65
+248.31%
0.47
Change In Other Current Liabilities
—
—
-1.08
-117.78%
-0.49
Investing Cash Flow
-1.86
-38.62%
-1.34
+25.29%
-1.80
-13.14%
-1.59
Cash Flow From Continuing Investing Activities
-1.86
-38.62%
-1.34
+25.29%
-1.80
-13.14%
-1.59
Net PPE Purchase And Sale
-1.26
+52.42%
-2.64
-47.87%
-1.79
-12.45%
-1.59
Purchase Of PPE
-1.26
+52.42%
-2.64
-47.87%
-1.79
-12.45%
-1.59
Capital Expenditure
-1.86
+42.91%
-3.26
-41.19%
-2.31
-45.35%
-1.59
Capital Expenditure Reported
-0.60
+2.26%
-0.62
-18.36%
-0.52
0.00
Net Investment Purchase And Sale
0.00
-100.00%
1.92
0.00
—
Sale Of Investment
0.00
-100.00%
1.92
0.00
—
Net Business Purchase And Sale
—
0.00
-100.00%
0.51
0.00
Gain Loss On Sale Of Business
—
0.00
+100.00%
-0.40
0.00
Net Intangibles Purchase And Sale
—
—
—
0.00
Purchase Of Intangibles
—
—
—
0.00
Financing Cash Flow
-1.29
-885.50%
-0.13
+98.92%
-12.13
-327.71%
-2.84
Cash Flow From Continuing Financing Activities
-1.29
-885.50%
-0.13
+98.92%
-12.13
-327.71%
-2.84
Net Issuance Payments Of Debt
2.65
+1067.40%
0.23
+102.15%
-10.54
-490.20%
-1.79
Issuance Of Debt
40.00
+354.55%
8.80
+95.56%
4.50
-42.31%
7.80
Repayment Of Debt
-37.35
-335.67%
-8.57
+43.00%
-15.04
-56.91%
-9.59
Long Term Debt Issuance
40.00
+354.55%
8.80
+95.56%
4.50
-42.31%
7.80
Long Term Debt Payments
-37.35
-335.67%
-8.57
+43.00%
-15.04
-56.91%
-9.59
Net Long Term Debt Issuance
2.65
+1067.40%
0.23
+102.15%
-10.54
-490.20%
-1.79
Short Term Debt Issuance
—
—
—
7.80
Short Term Debt Payments
—
—
—
-6.40
Net Short Term Debt Issuance
—
—
—
1.40
Proceeds From Stock Option Exercised
0.05
-87.63%
0.38
-59.14%
0.93
+61.18%
0.58
Net Other Financing Charges
-3.99
-440.38%
-0.74
+70.75%
-2.52
-54.98%
-1.63
Changes In Cash
3.58
+10314.29%
-0.04
-136.84%
0.10
+102.90%
-3.27
Effect Of Exchange Rate Changes
0.93
+765.00%
-0.14
+56.25%
-0.32
-742.11%
-0.04
Beginning Cash Position
4.11
-4.09%
4.28
-4.99%
4.51
-42.36%
7.82
End Cash Position
8.61
+109.69%
4.11
-4.09%
4.28
-4.99%
4.51
Free Cash Flow
4.87
+366.92%
-1.82
-115.56%
11.72
+2775.11%
-0.44
Interest Paid Supplemental Data
3.60
+11.13%
3.23
-14.76%
3.79
+64.00%
2.31
Income Tax Paid Supplemental Data
—
—
0.21
-61.24%
0.53
Sale Of Business
—
0.00
-100.00%
0.51
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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