Haemonetics (HAE)
Market Price (12/28/2025): $80.23 | Market Cap: $3.8 BilSector: Health Care | Industry: Health Care Supplies
Haemonetics (HAE)
Market Price (12/28/2025): $80.23Market Cap: $3.8 BilSector: Health CareIndustry: Health Care Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% | Weak multi-year price returns2Y Excs Rtn is -52%, 3Y Excs Rtn is -79% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5%, Rev Chg QQuarterly Revenue Change % is -5.3% |
| Attractive yieldFCF Yield is 6.7% | Key risksHAE key risks include [1] mounting competitive pressure on its VASCADE devices from specific rival products and [2] significant customer concentration in its vital plasma business, Show more. | |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Digital Health & Telemedicine, and Automation & Robotics. Themes include Geriatric Care, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Attractive yieldFCF Yield is 6.7% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, Digital Health & Telemedicine, and Automation & Robotics. Themes include Geriatric Care, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -52%, 3Y Excs Rtn is -79% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.5%, Rev Chg QQuarterly Revenue Change % is -5.3% |
| Key risksHAE key risks include [1] mounting competitive pressure on its VASCADE devices from specific rival products and [2] significant customer concentration in its vital plasma business, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
Haemonetics (HAE) experienced significant positive movements in its stock during the approximate time period from August 31, 2025, to December 28, 2025, driven by several key factors.
<br><br><b>1. Strong Earnings Performance:</b> The company reported robust financial results for its fourth quarter fiscal year 2025 (ending March 29, 2025) and second quarter fiscal year 2026 (ending September 27, 2025). In Q4 FY25, Haemonetics surpassed analysts' expectations with an adjusted EPS of $1.24 and revenue of $331 million, leading to a 3.66% stock price increase following the announcement. Similarly, Q2 FY26 results showed an adjusted EPS of $1.27, beating the consensus estimate of $1.12, and quarterly revenue exceeding expectations at $327.32 million.
<br><br><b>2. Improved Financial Metrics:</b> Haemonetics demonstrated significant improvements in its financial health. In Q4 FY25, the adjusted gross margin improved to 60.2%, up 620 basis points year-over-year, and adjusted operating income increased by 27.5%. The second quarter of fiscal 2026 also saw a 5.3% increase in adjusted net income and a 13.4% rise in adjusted earnings per diluted share compared to the previous year's period, along with higher operating income and margin.
<br><br><b>3. Positive Analyst Coverage and Price Target Increase:</b> On November 7, 2025, BofA upgraded Haemonetics' rating to neutral from underperform and raised its price objective to $75 from $58. This upgrade was attributed to the company's prudent guidance approach following a recovery in plasma collection volumes and potential for margin expansion, resulting in a 4.66% rise in shares.
<br><br><b>4. Enhanced Growth Outlook:</b> The company raised its full-year organic growth outlook for fiscal year 2026 to 7% to 10% from an earlier projection of 6% to 9%. This optimistic outlook was supported by a rebound in plasma collection volumes, with high single-digit growth in the US and double-digit growth in Europe.
<br><br><b>5. Share Buyback Program:</b> Haemonetics executed a $150 million share buyback program during its fourth quarter of fiscal 2025, signaling confidence from the management in the company's financial strength and future prospects.
Show moreStock Movement Drivers
Fundamental Drivers
The 66.7% change in HAE stock from 9/27/2025 to 12/27/2025 was primarily driven by a 60.1% change in the company's P/E Multiple.| 9272025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 48.17 | 80.28 | 66.66% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1346.05 | 1327.85 | -1.35% |
| Net Income Margin (%) | 12.13% | 12.67% | 4.38% |
| P/E Multiple | 14.19 | 22.72 | 60.10% |
| Shares Outstanding (Mil) | 48.11 | 47.59 | 1.08% |
| Cumulative Contribution | 66.64% |
Market Drivers
9/27/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| HAE | 66.7% | |
| Market (SPY) | 4.3% | -4.8% |
| Sector (XLV) | 15.2% | 12.1% |
Fundamental Drivers
The 8.8% change in HAE stock from 6/28/2025 to 12/27/2025 was primarily driven by a 4.9% change in the company's P/E Multiple.| 6282025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 73.80 | 80.28 | 8.78% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1360.82 | 1327.85 | -2.42% |
| Net Income Margin (%) | 12.32% | 12.67% | 2.80% |
| P/E Multiple | 21.65 | 22.72 | 4.92% |
| Shares Outstanding (Mil) | 49.19 | 47.59 | 3.26% |
| Cumulative Contribution | 8.66% |
Market Drivers
6/28/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| HAE | 8.8% | |
| Market (SPY) | 12.6% | 3.4% |
| Sector (XLV) | 17.0% | 26.8% |
Fundamental Drivers
The 3.5% change in HAE stock from 12/27/2024 to 12/27/2025 was primarily driven by a 39.3% change in the company's Net Income Margin (%).| 12272024 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 77.57 | 80.28 | 3.49% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1361.22 | 1327.85 | -2.45% |
| Net Income Margin (%) | 9.10% | 12.67% | 39.26% |
| P/E Multiple | 31.89 | 22.72 | -28.77% |
| Shares Outstanding (Mil) | 50.90 | 47.59 | 6.50% |
| Cumulative Contribution | 3.06% |
Market Drivers
12/27/2024 to 12/27/2025| Return | Correlation | |
|---|---|---|
| HAE | 3.5% | |
| Market (SPY) | 17.0% | 22.9% |
| Sector (XLV) | 13.8% | 31.2% |
Fundamental Drivers
The 3.9% change in HAE stock from 12/28/2022 to 12/27/2025 was primarily driven by a 59.5% change in the company's Net Income Margin (%).| 12282022 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 77.30 | 80.28 | 3.86% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1083.71 | 1327.85 | 22.53% |
| Net Income Margin (%) | 7.94% | 12.67% | 59.53% |
| P/E Multiple | 45.77 | 22.72 | -50.37% |
| Shares Outstanding (Mil) | 50.95 | 47.59 | 6.60% |
| Cumulative Contribution | 3.40% |
Market Drivers
12/28/2023 to 12/27/2025| Return | Correlation | |
|---|---|---|
| HAE | -7.6% | |
| Market (SPY) | 48.0% | 24.2% |
| Sector (XLV) | 17.9% | 29.0% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HAE Return | 3% | -55% | 48% | 9% | -9% | 2% | -30% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| HAE Win Rate | 50% | 42% | 67% | 58% | 42% | 33% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| HAE Max Drawdown | -35% | -58% | -17% | -8% | -17% | -39% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See HAE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | HAE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -68.6% | -25.4% |
| % Gain to Breakeven | 218.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -39.0% | -33.9% |
| % Gain to Breakeven | 63.9% | 51.3% |
| Time to Breakeven | 294 days | 148 days |
| 2018 Correction | ||
| % Loss | -29.9% | -19.8% |
| % Gain to Breakeven | 42.7% | 24.7% |
| Time to Breakeven | 63 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -25.3% | -56.8% |
| % Gain to Breakeven | 33.9% | 131.3% |
| Time to Breakeven | 707 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Haemonetics's stock fell -68.6% during the 2022 Inflation Shock from a high on 2/8/2021. A -68.6% loss requires a 218.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
AI Analysis | Feedback
1. Like BD (Becton, Dickinson and Company) for blood and plasma collection and processing.
2. A specialized Medtronic, but focused purely on blood and plasma technologies.
AI Analysis | Feedback
- NexSys PCS® System: An automated system designed for efficient and safe collection of source plasma from donors.
- TEG® Hemostasis Analyzer System: A diagnostic device providing real-time, comprehensive viscoelastic assessment of a patient's hemostasis to guide transfusion decisions.
- Cell Saver® Elite® + System: A cell salvage system that recovers, processes, and returns a patient's own blood during surgery, reducing the need for allogeneic transfusions.
- SafeTrace Tx® Transfusion Management Software: A software solution for hospitals and blood centers to manage blood product inventory, track transfusions, and enhance patient safety.
AI Analysis | Feedback
Haemonetics (HAE) primarily sells its products and services to other companies and healthcare institutions, operating under a Business-to-Business (B2B) model rather than directly to individuals.
According to Haemonetics' annual reports (e.g., 2023 10-K filing), no single customer accounted for more than 10% of their consolidated net revenue in recent fiscal years. Therefore, while they serve a broad customer base, there isn't one specific "major customer" by the traditional financial disclosure definition.
Haemonetics' major customer categories, which consist of various companies and institutions, include:
-
Plasma Collection Centers
Haemonetics is a leading supplier of automated plasma collection systems (such as NexSys PCS and PCS2) and related consumables. Their customers in this segment are companies that collect human blood plasma, which is then used to manufacture life-saving plasma-derived therapies. While specific revenue figures per customer are not disclosed, Haemonetics' technology is widely adopted by major global plasma fractionators. Prominent companies in this sector that would be customers include:
- CSL Behring (part of CSL Ltd., ASX: CSL)
- Grifols S.A. (BMAD: GRF)
- Takeda Pharmaceutical Company Limited (NYSE: TAK)
- Octapharma (private company)
- ADMA Biologics, Inc. (NASDAQ: ADMA)
-
Hospitals and Hospital Networks
Haemonetics sells a range of blood management solutions, including cell salvage systems (e.g., Cell Saver), hemostasis analyzers (e.g., TEG), and other blood processing and transfusion products. These products are utilized by surgeons, anesthesiologists, emergency room physicians, hematologists, and perfusionists within hospitals and large integrated delivery networks (IDNs) globally. Sales are typically made to the hospital institutions themselves, often through group purchasing organizations (GPOs).
-
Blood Banks and Blood Centers
These institutions are responsible for the collection, processing, testing, and distribution of whole blood and apheresis platelets. Haemonetics provides systems and consumables for blood component separation, pathogen reduction, and inventory management. Customers include independent blood banks, national blood services (e.g., American Red Cross, NHS Blood and Transplant in the UK), and hospital-based blood centers.
AI Analysis | Feedback
- Sanofi (SNY)
- Fresenius Medical Care AG & Co. KGaA (FMS)
- B. Braun Melsungen AG
- Terumo Corporation (TRUMY)
AI Analysis | Feedback
Christopher Simon President and Chief Executive Officer
Christopher Simon was appointed President and Chief Executive Officer of Haemonetics in May 2016. Prior to joining Haemonetics, he spent over two decades at McKinsey & Company, where he was a Senior Partner and led the Global Medical Products Practice from 1993 to 2016. Mr. Simon also held commercial roles at Baxter Healthcare Corporation and began his career as an Infantry Officer in the U.S. Army.
James D'Arecca Executive Vice President, Chief Financial Officer
James D'Arecca has served as Haemonetics' Executive Vice President and Chief Financial Officer since April 2022. His previous roles include Chief Financial Officer of TherapeuticsMD, Senior Vice President and Chief Accounting Officer of Allergan plc, and Chief Accounting Officer at Bausch & Lomb. Mr. D'Arecca also held various positions at Merck & Co., Inc. and Schering-Plough Corporation.
Frank W. Chan, Ph.D. Executive Vice President, Chief Operating Officer
Frank W. Chan, Ph.D., joined Haemonetics as Executive Vice President, Chief Operating Officer on April 7, 2025. Before Haemonetics, he was President of Acute Care & Monitoring at Medtronic plc, where he oversaw a global portfolio including airway management, patient monitoring, and connected care solutions. Dr. Chan also held roles of increasing responsibility at Covidien plc (which was acquired by Medtronic) and DePuy Orthopaedics, Inc., a Johnson & Johnson company.
Roy Galvin Executive Vice President, Chief Commercial Officer
Roy Galvin was appointed Executive Vice President, Chief Commercial Officer, effective March 3, 2025. He initially joined Haemonetics in 2022 as President, Global Plasma and Blood Center, and has extensive experience in global healthcare technology.
Anila Lingamneni Executive Vice President, Chief Technology Officer
Anila Lingamneni serves as Executive Vice President, Chief Technology Officer at Haemonetics. Prior to this role, she was the Chief Technology Officer for the Global X-ray business at GE Healthcare and served as Vice President of R&D for the Renal Global Business at Baxter International Inc.
AI Analysis | Feedback
The key risks to Haemonetics' business operations are primarily centered around increasing competition in a vital segment, significant customer concentration in its plasma market, and the overarching regulatory landscape.
- Increased Competition in Interventional Technologies: Haemonetics faces substantial competitive pressure in its Interventional Technologies segment. Analysts have cited increased competition from products like Abbott's Perclose ProStyle and Cordis' MYNX Control, which are directly impacting the sales of Haemonetics' VASCADE MVP/MVP XL devices. This intensified competition is projected to lead to a continued decline in this segment through fiscal year 2027, potentially hindering the company's overall revenue and earnings per share growth.
- High Customer Concentration in the Plasma Market: Haemonetics' Plasma business, which accounted for a significant portion of its total revenue in fiscal year 2024 (43.23%), is heavily reliant on a few major players in the US plasma market. Revenue generated from the top 10 clients represented approximately 48% of the company's net revenues in fiscal 2024, creating a vulnerability if any of these key clients reduce their cooperation or purchasing volumes.
- Regulatory Risks: Operating within the highly regulated medical device industry exposes Haemonetics to considerable regulatory risks. Changes in healthcare regulations, pressures related to reimbursement policies, and potential failures in compliance with extensive industry standards could adversely affect the company's business, financial condition, and results of operations.
AI Analysis | Feedback
null
AI Analysis | Feedback
Haemonetics (HAE) operates in several key markets related to blood and plasma management. The addressable market sizes for their main products and services are as follows:
- Vascular Closure Devices: The global vascular closure devices market was valued at approximately USD 1.74 billion in 2024 and is projected to reach USD 3 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 5.7% globally. In the U.S. alone, this market was valued at USD 735.4 million in 2024 and is anticipated to grow at a CAGR of 5.4% between 2025 and 2034. Another estimate places the total addressable market for vascular closure solutions at USD 2.7 billion.
- Blood Collection Devices: The global blood collection market was valued at USD 3.39 billion in 2023 and is projected to reach USD 7.25 billion by 2032, exhibiting a CAGR of 8.84% from 2024 to 2032. Another report estimated the global market size at USD 3.73 billion in 2024, with a projection to grow to USD 8.01 billion in 2033 at a CAGR of 8.87%. The U.S. blood collection market size was approximately USD 1.26 billion in 2024 and is expected to grow at a CAGR of 8.91% from 2025 to 2030.
- Hemostasis Products/Management: The global hemostasis products market was valued at USD 1.75 billion in 2024 and is projected to grow from USD 1.84 billion in 2025 to USD 2.97 billion by 2034, with a CAGR of 5.47%. North America held the largest share of this market, accounting for 32.62% in 2024. The U.S. hemostasis products market was valued at USD 529.40 million in 2023 and is projected to reach USD 917.37 million by 2034, growing at a CAGR of 5.67%. The broader global hemostatic agents market was valued at USD 7.38 billion in 2023 and is expected to grow to USD 15.77 billion by 2032, at a CAGR of 8.8%.
- Blood Transfusion Devices (including Cell Salvage): The global blood transfusion devices market size was USD 6.04 billion in 2024, projected to grow to USD 10.82 billion by 2034, at a CAGR of 6% globally. The U.S. market for blood transfusion devices was valued at USD 1.86 billion in 2024 and is expected to reach approximately USD 3.39 billion by 2034, with a CAGR of 6.14%.
- Plasma Collection: While a specific global market size for "plasma collection systems" with a numerical value was not readily available, the demand for plasma-derived therapies is growing rapidly worldwide. Haemonetics considers its plasma segment to have significant growth potential, especially in the U.S., which collects two-thirds of the world's source plasma.
AI Analysis | Feedback
Haemonetics (HAE) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and strong performance in key business segments.
-
Continued Growth in the Plasma Business: Haemonetics anticipates robust organic growth in its Plasma business, excluding the impact of the CSL transition. This growth is expected to be fueled by share gains, ongoing innovation, and the strong end-market demand for immunoglobulin therapies. The company has guided for 11% to 14% organic growth in its Plasma business ex-CSL for fiscal year 2026.
-
Expansion of the Hospital Business, particularly Blood Management Technologies: The Hospital segment, especially Blood Management Technologies, is a significant driver. This includes sustained strength in hemostasis management, driven by strong utilization of TEG 6s disposables, price increases, and growth in the U.S. installed base. The company's VASCADE vascular closure portfolio is also a key focus for regaining growth momentum and expanding market share. Haemonetics projects its hospital revenue to grow between 4% and 7% for the full fiscal year 2026.
-
Contributions from Recent Acquisitions and New Product Launches: Recent acquisitions, such as OpSens Inc. and Attune Medical (Advanced Cooling Therapy, Inc.), are expected to contribute significantly to revenue growth, particularly in expanding Haemonetics' market share in electrophysiology, interventional cardiology, and structural heart. Additionally, the global rollout of new products like the hemostasis heparin neutralization cartridge (HN cartridge), MVP XL, and Enzo ETM are anticipated to accelerate growth in the coming years.
-
Strategic Portfolio Optimization: Haemonetics is actively managing its portfolio by investing in attractive new products and rationalizing non-strategic assets to accelerate revenue growth and margin expansion. This strategic focus includes streamlining its apheresis portfolio and reallocating resources to higher-growth areas, such as the Hospital segment and innovative solutions.
AI Analysis | Feedback
Share Repurchases
- Haemonetics authorized a new $500 million share repurchase program in May 2025, slated for execution over the next three years.
- Prior to this, the company completed a $300 million share repurchase program.
- During the second quarter of fiscal 2026 (ending September 27, 2025), Haemonetics repurchased 1,430,579 shares of its common stock for $75.0 million through an accelerated share repurchase agreement.
Outbound Investments
- In March 2024, Haemonetics acquired Attune Medical, a company specializing in esophageal cooling devices, for $160 million.
- Haemonetics acquired OpSens for $253 million in October 2023, expanding its offerings in guidewires used in cardiac procedures.
- In December 2024, the company agreed to sell its whole-blood business to GVS for up to $67.1 million, including an upfront payment of $44.6 million, as part of a strategic move to focus on high-growth hospital markets and plasma.
Capital Expenditures
- Capital expenditures amounted to approximately $59.57 million over the last 12 months as of November 2025.
- The company's cash outlays are primarily directed towards acquisitions, investments, capital expenditures, share repurchases, and market and regional alignment initiatives.
- For the first quarter of fiscal 2026, capital expenditures were $3.8 million, alongside the placement of $11.5 million worth of devices at customer sites.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to HAE. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11142025 | CRL | Charles River Laboratories International | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 21.4% | 21.4% | -3.7% |
| 11142025 | GDRX | GoodRx | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -7.4% | -7.4% | -11.8% |
| 11142025 | ASTH | Astrana Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 18.0% | 18.0% | -5.5% |
| 11142025 | SGRY | Surgery Partners | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.9% | 3.9% | -1.4% |
| 11072025 | TFX | Teleflex | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.2% | 12.2% | -5.1% |
| 08312025 | HAE | Haemonetics | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 47.2% | 47.2% | -12.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Haemonetics
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 79.22 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 17.5% |
| Op Mgn 3Y Avg | 15.5% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 21.2% |
| CFO/Rev 3Y Avg | 18.9% |
| FCF/Rev LTM | 18.7% |
| FCF/Rev 3Y Avg | 15.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 3.6 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 17.2 |
| Total Yield | 4.7% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.0% |
| 3M Rtn | 7.5% |
| 6M Rtn | 12.0% |
| 12M Rtn | 11.8% |
| 3Y Rtn | 76.2% |
| 1M Excs Rtn | -2.5% |
| 3M Excs Rtn | 3.2% |
| 6M Excs Rtn | -0.3% |
| 12M Excs Rtn | -4.6% |
| 3Y Excs Rtn | -6.2% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Plasma | 570 | 500 | 352 | 333 |
| Hospital | 456 | 378 | 322 | 211 |
| Blood Center | 283 | 289 | 295 | 307 |
| Effect of exchange rates | -21 | 4 | -2 | |
| Service | 21 | 21 | 21 | |
| Total | 1,309 | 1,169 | 993 | 870 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Plasma | 182 | 279 | 183 | 172 |
| Hospital | 52 | 154 | 130 | 84 |
| Blood Center | 42 | 132 | 137 | 142 |
| Contingent Consideration | 0 | |||
| Acquisition, integration and divestiture related costs | -11 | |||
| Digital transformation costs | -16 | -5 | 0 | |
| Restructuring and restructuring related costs | -24 | -29 | -16 | |
| Other | -26 | |||
| Amortization of acquired assets | -35 | -33 | -47 | -33 |
| Amortization of fair value inventory step-up | 0 | |||
| Corporate expenses | -355 | -281 | -257 | |
| Effect of exchange rates | 8 | 19 | 13 | |
| Gains on divestiture and sale of assets | 0 | 10 | 33 | |
| Impairment of intangible assets | 0 | |||
| Integration and transaction costs | 0 | -22 | -18 | |
| Litigation-related charges | -5 | -1 | -1 | |
| Medical Device Regulation (MDR) and In Vitro Diagnostic Regulation (IVDR) costs | -10 | -11 | ||
| Restructuring costs | -1 | |||
| Restructuring related costs | -11 | |||
| Write downs of certain in-process assets and PCS2 related charges | 1 | -6 | -26 | |
| European Medical Device Regulation costs | -4 | |||
| Total | 165 | 156 | 81 | 90 |
Price Behavior
| Market Price | $80.28 | |
| Market Cap ($ Bil) | 3.8 | |
| First Trading Date | 05/10/1991 | |
| Distance from 52W High | -7.9% | |
| 50 Days | 200 Days | |
| DMA Price | $70.26 | $64.76 |
| DMA Trend | up | up |
| Distance from DMA | 14.3% | 24.0% |
| 3M | 1YR | |
| Volatility | 69.4% | 53.6% |
| Downside Capture | -160.08 | 80.01 |
| Upside Capture | 119.18 | 70.77 |
| Correlation (SPY) | -4.2% | 23.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.47 | -0.50 | -0.28 | 0.21 | 0.63 | 0.68 |
| Up Beta | 0.97 | 1.53 | 1.61 | 1.36 | 0.86 | 0.73 |
| Down Beta | -1.38 | -0.40 | -1.33 | -1.84 | 0.19 | 0.45 |
| Up Capture | 255% | 125% | 100% | 92% | 55% | 37% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 18 | 30 | 37 | 69 | 125 | 387 |
| Down Capture | -496% | -307% | -139% | 79% | 90% | 96% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 2 | 12 | 26 | 54 | 121 | 360 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of HAE With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| HAE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 6.4% | 15.1% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 53.3% | 17.2% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 0.30 | 0.65 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 31.4% | 23.1% | 0.5% | 6.1% | 25.1% | 3.8% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of HAE With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| HAE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -7.5% | 8.4% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 43.5% | 14.5% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | -0.03 | 0.40 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 29.3% | 31.2% | 2.4% | 7.4% | 26.6% | 12.0% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of HAE With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| HAE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 9.8% | 9.9% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 39.7% | 16.6% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.37 | 0.49 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 35.0% | 37.9% | 0.7% | 13.0% | 30.6% | 11.8% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | 32.3% | 44.2% | 64.1% |
| 8/7/2025 | -26.6% | -28.9% | -28.2% |
| 5/8/2025 | 5.9% | 6.8% | 9.7% |
| 2/6/2025 | -11.6% | -13.9% | -3.6% |
| 11/7/2024 | 10.7% | 17.4% | 3.9% |
| 8/8/2024 | -10.8% | -14.6% | -14.6% |
| 5/9/2024 | -0.7% | 3.5% | -8.2% |
| 2/8/2024 | 1.3% | -7.6% | 3.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 14 |
| # Negative | 10 | 10 | 9 |
| Median Positive | 8.9% | 7.6% | 8.0% |
| Median Negative | -8.8% | -7.3% | -8.2% |
| Max Positive | 32.3% | 44.2% | 64.1% |
| Max Negative | -26.6% | -28.9% | -28.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/27/2025 |
| 6302025 | 8072025 | 10-Q 6/28/2025 |
| 3312025 | 5212025 | 10-K 3/29/2025 |
| 12312024 | 2062025 | 10-Q 12/28/2024 |
| 9302024 | 11072024 | 10-Q 9/28/2024 |
| 6302024 | 8082024 | 10-Q 6/29/2024 |
| 3312024 | 5202024 | 10-K 3/30/2024 |
| 12312023 | 2082024 | 10-Q 12/30/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8082023 | 10-Q 7/1/2023 |
| 3312023 | 5222023 | 10-K 4/1/2023 |
| 12312022 | 2072023 | 10-Q 12/31/2022 |
| 9302022 | 11082022 | 10-Q 10/1/2022 |
| 6302022 | 8102022 | 10-Q 7/2/2022 |
| 3312022 | 5252022 | 10-K 4/2/2022 |
| 12312021 | 2082022 | 10-Q 1/1/2022 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.