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 25 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).
Harbor Diversified's 2024 improvement came from cash-flow recovery and a lighter cost base, not a full earnings rebound.
The most important shift is cash conversion: free cash flow moved from-$16.5M in FY2023 to$10.4M in FY2024 even though the company still reported a net loss. That gap says reported losses were cushioned by large non-cash depreciation and light capital spending, so the business consumed far less cash than the income statement alone implies.
FY2024 revenue was roughly flat at
Cash fell from
Financial Health Signals
Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Harbor Diversified Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Harbor Diversified Inc has an operating margin of -12.0%, meaning the company retains $-12 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 up from -18.5% the prior year.
Harbor Diversified Inc's revenue grew a modest 1.6% year-over-year to $202.4M. This slow but positive growth earns a score of 20/100.
Harbor Diversified Inc carries a low D/E ratio of 0.29, meaning only $0.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.82, Harbor Diversified Inc holds $3.82 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.
Harbor Diversified Inc has a free cash flow margin of 5.1%, earning a moderate score of 33/100. The company generates positive cash flow after capital investments, but with room for improvement.
Harbor Diversified Inc generates a -10.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -9.0% the prior year.
Harbor Diversified Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Harbor Diversified Inc generates $-0.77 in operating cash flow ($13.3M OCF vs -$17.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Harbor Diversified Inc earns $-2689.2 in operating income for every $1 of interest expense (-$24.2M vs $9K). 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 $202.4M in revenue in fiscal year 2024. This represents an increase of 1.6% from the prior year.
Harbor Diversified Inc's EBITDA was $1.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 116.3% from the prior year.
Harbor Diversified Inc reported -$17.2M in net income in fiscal year 2024. This represents a decrease of 7.4% from the prior year.
Harbor Diversified Inc earned $-0.36 per diluted share (EPS) in fiscal year 2024. This represents an increase of 7.7% from the prior year.
Cash & Balance Sheet
Harbor Diversified Inc generated $10.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 162.9% from the prior year.
Harbor Diversified Inc held $15.0M in cash against $0 in long-term debt as of fiscal year 2024.
Harbor Diversified Inc had 58M shares outstanding in fiscal year 2024. This represents an increase of 35.6% from the prior year.
Margins & Returns
Harbor Diversified Inc's operating margin was -12.0% in fiscal year 2024, reflecting core business profitability. This is up 6.5 percentage points from the prior year.
Harbor Diversified Inc's net profit margin was -8.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.5 percentage points from the prior year.
Harbor Diversified Inc's ROE was -10.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the prior year.
Capital Allocation
Harbor Diversified Inc spent $2.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 54.8% from the prior year.
Harbor Diversified Inc invested $2.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 35.4% from the prior year.
HRBR Income Statement
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $58.0M+8.3% | $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 |
| 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 | $1.8M+132.3% | -$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 |
| Interest Expense | $3K0.0% | $3K0.0% | $3K | $0-100.0% | $3K | $0-100.0% | $11K+1000.0% | $1K |
| Income Tax | -$728K-2306.1% | $33K+113.5% | -$245K-4.7% | -$234K-147.7% | $491K+184.4% | -$582K+71.8% | -$2.1M-71.3% | -$1.2M |
| Net Income | $2.5M+210.9% | -$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 |
| EPS (Diluted) | N/A | $-0.04+80.0% | $-0.20+13.0% | $-0.23 | N/A | $-0.10+64.3% | $-0.28-154.5% | $-0.11 |
HRBR Balance Sheet
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $204.4M+0.6% | $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 |
| Current Assets | $127.9M+8.3% | $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 |
| Cash & Equivalents | $15.0M+122.3% | $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 |
| 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 | N/A | $0 | N/A | $457K-63.0% | $1.2M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $45.6M-2.3% | $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 |
| Current Liabilities | $33.5M+0.2% | $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 |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $47.6M-7.7% | $51.6M |
| Total Equity | $158.8M+1.5% | $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 |
| Retained Earnings | -$105.9M+2.3% | -$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 |
HRBR Cash Flow Statement
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $9.4M+30371.0% | $31K-99.3% | $4.3M+929.5% | -$522K-108.1% | $6.5M+455.6% | -$1.8M+81.8% | -$10.0M-50.3% | -$6.7M |
| Capital Expenditures | $37K-92.2% | $476K-42.2% | $824K-47.3% | $1.6M+6.3% | $1.5M+160.6% | $564K-11.3% | $636K-65.0% | $1.8M |
| Free Cash Flow | $9.4M+2214.4% | -$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 |
| Investing Cash Flow | -$1.2M+14.7% | -$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 |
| Financing Cash Flow | -$147K-69.0% | -$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 |
| Dividends Paid | $107K | $0-100.0% | $519K+11.4% | $466K+12.8% | $413K+15.4% | $358K+17.4% | $305K+21.0% | $252K |
| Share Buybacks | $40K-54.0% | $87K-90.7% | $937K-5.5% | $992K+50.1% | $661K-19.0% | $816K-61.0% | $2.1M+113.5% | $980K |
HRBR Financial Ratios
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 3.1%+13.4pp | -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% |
| Net Margin | 4.3%+8.4pp | -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% |
| Return on Equity | 1.6%+3.0pp | -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% |
| Return on Assets | 1.2%+2.3pp | -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% |
| Current Ratio | 3.82+0.3 | 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 |
| Debt-to-Equity | 0.29-0.0 | 0.30-0.0 | 0.32+0.0 | 0.28+0.3 | 0.000.0 | 0.00-0.3 | 0.270.0 | 0.27 |
| FCF Margin | 16.2%+17.1pp | -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% |
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Frequently Asked Questions
What is Harbor Diversified Inc's annual revenue?
Harbor Diversified Inc (HRBR) reported $202.4M in total revenue for fiscal year 2024. This represents a 1.6% 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 grew by 1.6% year-over-year, from $199.2M to $202.4M in fiscal year 2024.
Is Harbor Diversified Inc profitable?
No, Harbor Diversified Inc (HRBR) reported a net income of -$17.2M in fiscal year 2024, with a net profit margin of -8.5%.
What is Harbor Diversified Inc's EBITDA?
Harbor Diversified Inc (HRBR) had EBITDA of $1.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Harbor Diversified Inc's operating margin?
Harbor Diversified Inc (HRBR) had an operating margin of -12.0% in fiscal year 2024, 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 -8.5% in fiscal year 2024, 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 -10.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Harbor Diversified Inc's free cash flow?
Harbor Diversified Inc (HRBR) generated $10.4M in free cash flow during fiscal year 2024. This represents a 162.9% 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 $13.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Harbor Diversified Inc's total assets?
Harbor Diversified Inc (HRBR) had $204.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Harbor Diversified Inc's capital expenditures?
Harbor Diversified Inc (HRBR) invested $2.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Harbor Diversified Inc's current ratio?
Harbor Diversified Inc (HRBR) had a current ratio of 3.82 as of fiscal year 2024, 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 0.29 as of fiscal year 2024, 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 -8.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Harbor Diversified Inc's Piotroski F-Score?
Harbor Diversified Inc (HRBR) has a Piotroski F-Score of 3 out of 9, indicating weak 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 to 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 -0.77x, considered mixed quality. 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 -2689.2x, 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 37 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.