(HROW) Harrow Health - Overview

Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: NASDAQ (USA) | Market Cap: 1.144m USD | Total Return: 9.9% in 12m

Ophthalmic Pharmaceuticals, Compounded Medications, Eye Drops, Biosimilars
Total Rating 28
Safety 69
Buy Signal -1.03
Drug Manufacturers - Specialty & Generic
Industry Rotation: -0.5
Market Cap: 1.14B
Avg Turnover: 19.6M
Risk 3d forecast
Volatility66.5%
VaR 5th Pctl10.3%
VaR vs Median-6.64%
Reward TTM
Sharpe Ratio0.42
Rel. Str. IBD8.2
Rel. Str. Peer Group12.2
Character TTM
Beta2.498
Beta Downside2.179
Hurst Exponent0.579
Drawdowns 3y
Max DD65.43%
CAGR/Max DD0.15
CAGR/Mean DD0.29
EPS (Earnings per Share) EPS (Earnings per Share) of HROW over the last years for every Quarter: "2021-03": 0.01, "2021-06": -0.09, "2021-09": -0.31, "2021-12": -0.27, "2022-03": 0.03, "2022-06": -0.23, "2022-09": -0.24, "2022-12": 0.04, "2023-03": -0.22, "2023-06": -0.14, "2023-09": -0.13, "2023-12": -0.25, "2024-03": -0.38, "2024-06": -0.18, "2024-09": -0.05, "2024-12": 0.4, "2025-03": -0.38, "2025-06": 0.13, "2025-09": 0.33, "2025-12": 0, "2026-03": -0.74,
Last SUE: -3.25
Qual. Beats: -2
Revenue Revenue of HROW over the last years for every Quarter: 2021-03: 15.443, 2021-06: 18.134, 2021-09: 18.711, 2021-12: 20.188, 2022-03: 22.12, 2022-06: 23.323, 2022-09: 22.823, 2022-12: 20.329, 2023-03: 26.103, 2023-06: 33.47, 2023-09: 34.265, 2023-12: 36.355, 2024-03: 34.587, 2024-06: 48.939, 2024-09: 49.257, 2024-12: 66.831, 2025-03: 47.831, 2025-06: 63.742, 2025-09: 71.638, 2025-12: 89.092, 2026-03: 44.203,
Rev. CAGR: 45.03%
Rev. Trend: 99.2%
Last SUE: -1.66
Qual. Beats: -1

Warnings

High Debt/EBITDA (5.2) with thin interest coverage (0.9)

Interest Coverage Ratio 0.9 is critical

Altman Z'' 0.54 < 1.0 - financial distress zone

Choppy Below Avwap Earnings

Tailwinds

No distinct edge detected

Description: HROW Harrow Health

Harrow, Inc. (HROW) is a Nashville-based pharmaceutical company specializing in the development and commercialization of ophthalmic products within the United States. The company operates through two primary segments: Branded, which manages a portfolio of FDA-approved proprietary drugs, and ImprimisRx, which focuses on ophthalmology-specific compounded medications. Its product line addresses a broad range of ocular conditions, including cataract surgery inflammation, bacterial conjunctivitis, glaucoma, and chronic dry eye.

The business model relies heavily on the acquisition and integration of established eyecare brands and the launch of biosimilars, such as BYOOVIZ and OPUVIZ, to compete in high-value therapeutic categories like Wet AMD. In the pharmaceutical sector, biosimilars serve as lower-cost alternatives to high-priced biologic drugs, often gaining market share as original patents expire. Harrows strategy involves consolidating niche ophthalmic assets to leverage a specialized sales force across the surgical and clinical eyecare markets.

For more detailed financial metrics and valuation models, consider reviewing the comprehensive data available on ValueRay.

Headlines to Watch Out For
  • IHEEZO market penetration and reimbursement coverage drive core revenue growth
  • VEVYE prescription volume acceleration determines long-term dry eye market share
  • Manufacturing scale and supply chain stability influence gross margin expansion
  • Successful integration of acquired Novartis and Santen ophthalmic product portfolios
  • Regulatory compliance and compounding pharmacy oversight impact operational risk profile
Piotroski VR‑10 (Strict) 5.0
Net Income: -15.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA 13.46 > 1.0
NWC/Revenue: 50.23% < 20% (prev -8.20%; Δ 58.42% < -1%)
CFO/TA 0.04 > 3% & CFO 15.2m > Net Income -15.0m
Net Debt (206.0m) to EBITDA (39.9m): 5.16 < 3
Current Ratio: 2.48 > 1.5 & < 3
Outstanding Shares: last quarter (37.2m) vs 12m ago 3.92% < -2%
Gross Margin: 74.11% > 18% (prev 0.75%; Δ 7.34k% > 0.5%)
Asset Turnover: 68.57% > 50% (prev 58.45%; Δ 10.11% > 0%)
Interest Coverage Ratio: 0.88 > 6 (EBITDA TTM 39.9m / Interest Expense TTM 23.1m)
Altman Z'' 0.54
A: 0.32 (Total Current Assets 226.4m - Total Current Liabilities 91.4m) / Total Assets 419.5m
B: -0.44 (Retained Earnings -184.1m / Total Assets 419.5m)
C: 0.05 (EBIT TTM 20.4m / Avg Total Assets 391.9m)
D: -0.47 (Book Value of Equity -184.1m / Total Liabilities 391.2m)
Altman-Z'' Score: 0.54 = B
Beneish M -2.95
DSRI: 1.04 (Receivables 101.3m/77.3m, Revenue 268.7m/212.9m)
GMI: 1.01 (GM 74.11% / 74.53%)
AQI: 0.87 (AQ_t 0.43 / AQ_t-1 0.50)
SGI: 1.26 (Revenue 268.7m / 212.9m)
TATA: -0.07 (NI -15.0m - CFO 15.2m) / TA 419.5m)
Beneish M-Score: -2.95 (Cap -4..+1) = A
What is the price of HROW shares? As of May 21, 2026, the stock is trading at USD 30.86 with a total of 495,947 shares traded.
Over the past week, the price has changed by +3.45%, over one month by -23.80%, over three months by -40.65% and over the past year by +9.94%.
Is HROW a buy, sell or hold? Harrow Health has received a consensus analysts rating of 4.80. Therefore, it is recommended to buy HROW.
  • StrongBuy: 4
  • Buy: 1
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the HROW price?
Analysts Target Price 67.8 119.5%
Harrow Health (HROW) - Fundamental Data Overview as of 21 May 2026
P/E Forward = 208.3333
P/S = 4.2564
P/B = 40.5396
Revenue TTM = 268.7m USD
EBIT TTM = 20.4m USD
EBITDA TTM = 39.9m USD
Long Term Debt = 292.1m USD (from longTermDebt, last quarter)
Short Term Debt = 915k USD (from shortTermDebt, last quarter)
Debt = 300.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 206.0m USD (from netDebt column, last quarter)
Enterprise Value = 1.35b USD (1.14b + Debt 300.7m - CCE 94.6m)
Interest Coverage Ratio = 0.88 (Ebit TTM 20.4m / Interest Expense TTM 23.1m)
EV/FCF = 94.43x (Enterprise Value 1.35b / FCF TTM 14.3m)
FCF Yield = 1.06% (FCF TTM 14.3m / Enterprise Value 1.35b)
FCF Margin = 5.32% (FCF TTM 14.3m / Revenue TTM 268.7m)
Net Margin = -5.57% (Net Income TTM -15.0m / Revenue TTM 268.7m)
Gross Margin = 74.11% ((Revenue TTM 268.7m - Cost of Revenue TTM 69.6m) / Revenue TTM)
Gross Margin QoQ = 61.18% (prev 79.27%)
Tobins Q-Ratio = 3.22 (Enterprise Value 1.35b / Total Assets 419.5m)
Interest Expense / Debt = 1.83% (Interest Expense 5.50m / Debt 300.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 16.1m (EBIT 20.4m * (1 - 21.00%))
Current Ratio = 2.48 (Total Current Assets 226.4m / Total Current Liabilities 91.4m)
Debt / Equity = 10.47 (Debt 300.7m / totalStockholderEquity, last quarter 28.7m)
Debt / EBITDA = 5.16 (Net Debt 206.0m / EBITDA 39.9m)
Debt / FCF = 14.41 (Net Debt 206.0m / FCF TTM 14.3m)
Total Stockholder Equity = 44.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.82% (Net Income -15.0m / Total Assets 419.5m)
RoE = -33.65% (Net Income TTM -15.0m / Total Stockholder Equity 44.5m)
RoCE = 6.07% (EBIT 20.4m / Capital Employed (Equity 44.5m + L.T.Debt 292.1m))
RoIC = 5.48% (NOPAT 16.1m / Invested Capital 294.5m)
WACC = 12.00% (E(1.14b)/V(1.44b) * Re(14.77%) + D(300.7m)/V(1.44b) * Rd(1.83%) * (1-Tc(0.21)))
Discount Rate = 14.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 2.33%
[DCF] Terminal Value 69.67% ; FCFF base≈14.3m ; Y1≈17.6m ; Y5≈30.1m
[DCF] Fair Price = 2.00 (EV 280.6m - Net Debt 206.0m = Equity 74.6m / Shares 37.3m; r=12.00% [WACC]; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -3.25 | # QB: -2
Revenue Correlation: 99.24 | Revenue CAGR: 45.03% | SUE: -1.66 | # QB: -1
EPS current Quarter (2026-06-30): EPS=-0.23 | Chg30d=N/A | Revisions=-20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.36 | Chg30d=-7.69% | Revisions=+20% | Analysts=3
EPS current Year (2026-12-31): EPS=0.44 | Chg30d=-32.83% | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=+27.9%
EPS next Year (2027-12-31): EPS=2.68 | Chg30d=-1.59% | Revisions=-33% | GrowthEPS=+503.8% | GrowthRev=+48.0%
[Analyst] Revisions Ratio: -33%