Harbor Diversified Inc Financials
This page shows Harbor Diversified Inc (HRBR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 24 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2023 annual data. Scores normalized against common benchmarks. How we calculate these scores
Harbor Diversified Inc has an operating margin of -18.5%, meaning the company retains $-19 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 6.1% the prior year.
Harbor Diversified Inc's revenue declined 16.9% year-over-year, from $239.7M to $199.2M. This contraction results in a growth score of 5/100.
Harbor Diversified Inc carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.40, Harbor Diversified Inc holds $4.40 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 87/100.
While Harbor Diversified Inc generated -$12.0M in operating cash flow, capex of $4.5M consumed most of it, leaving -$16.5M in free cash flow. This results in a low score of 4/100, reflecting heavy capital investment rather than weak cash generation.
Harbor Diversified Inc generates a -9.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 3.8% the prior year.
Harbor Diversified Inc passes 5 of 9 financial strength tests. 1 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Harbor Diversified Inc generates $0.75 in operating cash flow (-$12.0M OCF vs -$16.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Harbor Diversified Inc earns $-2458.1 in operating income for every $1 of interest expense (-$36.9M vs $15K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Harbor Diversified Inc generated $199.2M in revenue in fiscal year 2023. This represents a decrease of 16.9% from the prior year.
Harbor Diversified Inc's EBITDA was -$11.3M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 127.6% from the prior year.
Harbor Diversified Inc reported -$16.0M in net income in fiscal year 2023. This represents a decrease of 313.1% from the prior year.
Harbor Diversified Inc earned $-0.39 per diluted share (EPS) in fiscal year 2023. This represents a decrease of 454.5% from the prior year.
Cash & Balance Sheet
Harbor Diversified Inc generated -$16.5M in free cash flow in fiscal year 2023, representing cash available after capex. This represents a decrease of 141.8% from the prior year.
Harbor Diversified Inc held $20.8M in cash against $0 in long-term debt as of fiscal year 2023.
Harbor Diversified Inc had 43M shares outstanding in fiscal year 2023. This represents a decrease of 4.6% from the prior year.
Margins & Returns
Harbor Diversified Inc's operating margin was -18.5% in fiscal year 2023, reflecting core business profitability. This is down 24.6 percentage points from the prior year.
Harbor Diversified Inc's net profit margin was -8.0% in fiscal year 2023, showing the share of revenue converted to profit. This is down 11.1 percentage points from the prior year.
Harbor Diversified Inc's ROE was -9.0% in fiscal year 2023, measuring profit generated per dollar of shareholder equity. This is down 12.8 percentage points from the prior year.
Capital Allocation
Harbor Diversified Inc spent $4.5M on share buybacks in fiscal year 2023, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 61.1% from the prior year.
Harbor Diversified Inc invested $4.5M in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents a decrease of 18.6% from the prior year.
HRBR Income Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $53.6M+13.6% | $47.1M+8.0% | $43.7M-8.3% | $47.6M-4.9% | $50.1M+2.3% | $48.9M-7.0% | $52.6M-7.1% | $56.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$5.5M+41.8% | -$9.5M+12.9% | -$10.9M-31.8% | -$8.3M-63.5% | -$5.1M+65.0% | -$14.5M-61.2% | -$9.0M-166.5% | -$3.4M |
| Interest Expense | $3K0.0% | $3K | $0-100.0% | $3K | $0-100.0% | $11K+1000.0% | $1K-66.7% | $3K |
| Income Tax | $33K+113.5% | -$245K-4.7% | -$234K-147.7% | $491K+184.4% | -$582K+71.8% | -$2.1M-71.3% | -$1.2M-154.0% | $2.2M |
| Net Income | -$2.2M+71.5% | -$7.9M+17.9% | -$9.6M-288.8% | $5.1M+222.1% | -$4.1M+65.4% | -$12.0M-143.9% | -$4.9M-188.6% | -$1.7M |
| EPS (Diluted) | $-0.04+80.0% | $-0.20+13.0% | $-0.23 | N/A | $-0.10+64.3% | $-0.28-154.5% | $-0.11 | N/A |
HRBR Balance Sheet
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $203.2M-3.0% | $209.5M-6.9% | $225.1M-4.8% | $236.3M-16.9% | $284.3M-4.7% | $298.3M-8.7% | $326.5M-4.7% | $342.5M |
| Current Assets | $118.1M+2.1% | $115.6M-6.8% | $124.1M-2.8% | $127.7M-25.9% | $172.2M-3.2% | $177.8M-10.2% | $198.0M-4.8% | $207.9M |
| Cash & Equivalents | $6.7M-16.7% | $8.1M-51.9% | $16.8M-19.2% | $20.8M+31.2% | $15.8M+0.1% | $15.8M-29.7% | $22.5M-32.5% | $33.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | $0 | N/A | $457K-63.0% | $1.2M-46.5% | $2.3M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $46.7M-7.9% | $50.7M+9.7% | $46.3M-0.4% | $46.5M-52.8% | $98.4M-8.1% | $107.1M-11.5% | $121.0M-7.5% | $130.8M |
| Current Liabilities | $33.4M-0.6% | $33.6M+13.4% | $29.6M+2.2% | $29.0M-65.7% | $84.5M+91.3% | $44.2M-18.7% | $54.4M-11.0% | $61.1M |
| Long-Term Debt | N/A | N/A | N/A | $0 | $0-100.0% | $47.6M-7.7% | $51.6M-0.9% | $52.1M |
| Total Equity | $156.5M-1.5% | $158.8M-4.1% | $165.6M-6.2% | $176.6M+2.3% | $172.7M-3.0% | $178.0M-7.5% | $192.4M-3.1% | $198.5M |
| Retained Earnings | -$108.4M-2.1% | -$106.1M-8.0% | -$98.3M-10.8% | -$88.7M+5.4% | -$93.8M-4.6% | -$89.6M-15.4% | -$77.6M-6.8% | -$72.7M |
HRBR Cash Flow Statement
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $31K-99.3% | $4.3M+929.5% | -$522K-108.1% | $6.5M+455.6% | -$1.8M+81.8% | -$10.0M-50.3% | -$6.7M-114.8% | $44.9M |
| Capital Expenditures | $476K-42.2% | $824K-47.3% | $1.6M+6.3% | $1.5M+160.6% | $564K-11.3% | $636K-65.0% | $1.8M-28.7% | $2.5M |
| Free Cash Flow | -$445K-112.7% | $3.5M+268.2% | -$2.1M-141.7% | $5.0M+309.7% | -$2.4M+77.6% | -$10.6M-25.6% | -$8.5M-120.0% | $42.3M |
| Investing Cash Flow | -$1.4M-72.3% | -$799K+59.8% | -$2.0M-104.3% | $46.0M+1261.0% | $3.4M-74.8% | $13.4M+626.0% | -$2.6M+89.7% | -$24.9M |
| Financing Cash Flow | -$87K+99.3% | -$12.2M-734.4% | -$1.5M+96.9% | -$47.5M-2761.1% | -$1.7M+83.3% | -$10.0M-456.7% | -$1.8M+66.0% | -$5.3M |
| Dividends Paid | $0-100.0% | $519K+11.4% | $466K+12.8% | $413K+15.4% | $358K+17.4% | $305K+21.0% | $252K+27.3% | $198K |
| Share Buybacks | $87K-90.7% | $937K-5.5% | $992K+50.1% | $661K-19.0% | $816K-61.0% | $2.1M+113.5% | $980K+1.0% | $970K |
HRBR Financial Ratios
| Metric | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -10.3%+9.8pp | -20.2%+4.9pp | -25.1%-7.6pp | -17.4%-7.3pp | -10.1%+19.5pp | -29.7%-12.6pp | -17.1%-11.1pp | -6.0% |
| Net Margin | -4.2%+12.5pp | -16.7%+5.3pp | -21.9%-32.6pp | 10.6%+18.9pp | -8.3%+16.2pp | -24.5%-15.2pp | -9.3%-6.3pp | -3.0% |
| Return on Equity | -1.4%+3.5pp | -4.9%+0.8pp | -5.8%-8.6pp | 2.9%+5.3pp | -2.4%+4.3pp | -6.7%-4.2pp | -2.6%-1.7pp | -0.9% |
| Return on Assets | -1.1%+2.6pp | -3.8%+0.5pp | -4.3%-6.4pp | 2.1%+3.6pp | -1.5%+2.6pp | -4.0%-2.5pp | -1.5%-1.0pp | -0.5% |
| Current Ratio | 3.53+0.1 | 3.44-0.7 | 4.19-0.2 | 4.40+2.4 | 2.04-2.0 | 4.02+0.4 | 3.64+0.2 | 3.40 |
| Debt-to-Equity | 0.30-0.0 | 0.32+0.0 | 0.28+0.3 | 0.000.0 | 0.00-0.3 | 0.270.0 | 0.270.0 | 0.26 |
| FCF Margin | -0.8%-8.3pp | 7.4%+12.2pp | -4.8%-15.3pp | 10.5%+15.3pp | -4.8%+17.0pp | -21.8%-5.7pp | -16.1%-90.8pp | 74.7% |
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Frequently Asked Questions
What is Harbor Diversified Inc's annual revenue?
Harbor Diversified Inc (HRBR) reported $199.2M in total revenue for fiscal year 2023. This represents a -16.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Harbor Diversified Inc's revenue growing?
Harbor Diversified Inc (HRBR) revenue declined by 16.9% year-over-year, from $239.7M to $199.2M in fiscal year 2023.
Is Harbor Diversified Inc profitable?
No, Harbor Diversified Inc (HRBR) reported a net income of -$16.0M in fiscal year 2023, with a net profit margin of -8.0%.
What is Harbor Diversified Inc's EBITDA?
Harbor Diversified Inc (HRBR) had EBITDA of -$11.3M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Harbor Diversified Inc have?
As of fiscal year 2023, Harbor Diversified Inc (HRBR) had $20.8M in cash and equivalents against $0 in long-term debt.
What is Harbor Diversified Inc's operating margin?
Harbor Diversified Inc (HRBR) had an operating margin of -18.5% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.
What is Harbor Diversified Inc's net profit margin?
Harbor Diversified Inc (HRBR) had a net profit margin of -8.0% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.
What is Harbor Diversified Inc's return on equity (ROE)?
Harbor Diversified Inc (HRBR) has a return on equity of -9.0% for fiscal year 2023, measuring how efficiently the company generates profit from shareholder equity.
What is Harbor Diversified Inc's free cash flow?
Harbor Diversified Inc (HRBR) generated -$16.5M in free cash flow during fiscal year 2023. This represents a -141.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Harbor Diversified Inc's operating cash flow?
Harbor Diversified Inc (HRBR) generated -$12.0M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.
What are Harbor Diversified Inc's total assets?
Harbor Diversified Inc (HRBR) had $236.3M in total assets as of fiscal year 2023, including both current and long-term assets.
What are Harbor Diversified Inc's capital expenditures?
Harbor Diversified Inc (HRBR) invested $4.5M in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.
What is Harbor Diversified Inc's current ratio?
Harbor Diversified Inc (HRBR) had a current ratio of 4.40 as of fiscal year 2023, which is generally considered healthy.
What is Harbor Diversified Inc's debt-to-equity ratio?
Harbor Diversified Inc (HRBR) had a debt-to-equity ratio of 0.00 as of fiscal year 2023, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Harbor Diversified Inc's return on assets (ROA)?
Harbor Diversified Inc (HRBR) had a return on assets of -6.8% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is Harbor Diversified Inc's cash runway?
Based on fiscal year 2023 data, Harbor Diversified Inc (HRBR) had $20.8M in cash against an annual operating cash burn of $12.0M. This gives an estimated cash runway of approximately 21 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Harbor Diversified Inc's Piotroski F-Score?
Harbor Diversified Inc (HRBR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Harbor Diversified Inc's earnings high quality?
Harbor Diversified Inc (HRBR) has an earnings quality ratio of 0.75x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Harbor Diversified Inc cover its interest payments?
Harbor Diversified Inc (HRBR) has an interest coverage ratio of -2458.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Harbor Diversified Inc?
Harbor Diversified Inc (HRBR) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.