Haemonetics
HAENYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $122.36 Prior regular-session close from the quote source.
- $120.02–$123.06 Regular-session low and high so far today.
- 390.1K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $51.00–$132.00 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own HAE if its mission-critical blood and hospital procedure platforms remain sticky enough to lift mix and cash flow despite near-term revenue softness.
HAE price history
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Investment thesis
What must happen next
Haemonetics’ role in quality- and efficiency-critical blood and plasma workflows should keep customer demand recurring, but that stickiness is under test after the FY2026 revenue decline.HoldingMateriality: High
GAAP annual revenue was $1.334 billion in FY2026, still above $1.169 billion in FY2023. If workflow stickiness holds, revenue can stabilize and grow without constant reinvention; if customers can switch platforms easily, the business becomes a lower-quality equipment cycle.
Watch: A major plasma-collection customer standardizes new centers on a competing platform from Terumo Blood and Cell Technologies, Fresenius Kabi, or Grifols.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue was $1.334 billion in FY2026, still above $1.169 billion in FY2023.
Open source ↗Haemonetics’ higher-value procedure and consumables mix should protect pricing and expand gross profit even when headline revenue is uneven.StrengtheningMateriality: High
GAAP annual gross profit increased to $787.6 million in FY2026 from $749.0 million in FY2025 and $691.5 million in FY2024. Gross-profit durability is the clearest sign that the business has pricing power or favorable mix rather than commodity-device economics.
Watch: Hospital group purchasing organizations or plasma customers force price concessions that offset procedure-volume growth.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit increased to $787.6 million in FY2026 from $749.0 million in FY2025 and $691.5 million in FY2024.
Open source ↗The company’s operating model must convert higher gross profit into GAAP operating income; otherwise spending, integration, or compliance costs are absorbing the economic advantage.WeakeningMateriality: Medium
GAAP annual operating income remained positive at $156.7 million in FY2026. Owners only benefit from mix improvement if it reaches operating profit rather than being consumed by restructuring, SG&A, R&D, or remediation costs.
Watch: Product-quality, regulatory, or supply-chain issues require elevated spending and prevent operating leverage.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income remained positive at $156.7 million in FY2026.
Open source ↗The recurring consumables and procedure-driven nature of the business should translate accounting earnings into strong operating cash flow, giving Haemonetics funding flexibility even when GAAP earnings are volatile.StrengtheningMateriality: Medium
GAAP annual operating cash flow increased to $293.2 million in FY2026 from $181.7 million in FY2025. Cash conversion funds R&D, acquisitions, debt reduction, or buybacks; if it weakens, the company has less room to fix growth or defend share.
Watch: Large hospital or plasma customers stretch payment terms or reduce inventory commitments.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow increased to $293.2 million in FY2026 from $181.7 million in FY2025.
Open source ↗Haemonetics’ capital allocation must stay disciplined because the balance sheet can support investment, but liabilities leave less room for a large failed acquisition or prolonged operating stumble.HoldingMateriality: Medium
Liabilities were $1.600 billion at FY2026 year-end versus cash of $245.4 million. Good capital allocation can compound per-share value; a bad deal or debt-funded strategic error would reduce flexibility just as the business needs investment.
Watch: Management pursues a large debt-funded acquisition in an adjacent device category without clear customer overlap.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Liabilities were $1.600 billion at FY2026 year-end versus cash of $245.4 million.
Open source ↗
Full investment case & evidence
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Original research
Haemonetics’ role in quality- and efficiency-critical blood and plasma workflows should keep customer demand recurring, but that stickiness is under test after the FY2026 revenue decline. If workflow stickiness holds, revenue can stabilize and grow without constant reinvention; if customers can switch platforms easily, the business becomes a lower-quality equipment cycle.
Haemonetics’ higher-value procedure and consumables mix should protect pricing and expand gross profit even when headline revenue is uneven. Gross-profit durability is the clearest sign that the business has pricing power or favorable mix rather than commodity-device economics.
The company’s operating model must convert higher gross profit into GAAP operating income; otherwise spending, integration, or compliance costs are absorbing the economic advantage. Owners only benefit from mix improvement if it reaches operating profit rather than being consumed by restructuring, SG&A, R&D, or remediation costs.
The recurring consumables and procedure-driven nature of the business should translate accounting earnings into strong operating cash flow, giving Haemonetics funding flexibility even when GAAP earnings are volatile. Cash conversion funds R&D, acquisitions, debt reduction, or buybacks; if it weakens, the company has less room to fix growth or defend share.
Haemonetics’ capital allocation must stay disciplined because the balance sheet can support investment, but liabilities leave less room for a large failed acquisition or prolonged operating stumble. Good capital allocation can compound per-share value; a bad deal or debt-funded strategic error would reduce flexibility just as the business needs investment.
All standing thesis claims
Original report summary
its mission-critical blood and hospital procedure platforms remain sticky enough to lift mix and cash flow despite near-term revenue softness.
Bull case and bear case
Bull case and bear case for Haemonetics
Where the evidence on Haemonetics disagrees: Mixed on the latest evidence (Oct 16, 2026). Of its 5 thesis points, 2 strengthening, 2 holding and 1 weakening.
Bull case: what the evidence supports
Haemonetics’ role in quality- and efficiency-critical blood and plasma workflows should keep customer demand recurring, but that stickiness is under test after the FY2026 revenue decline.
Haemonetics’ higher-value procedure and consumables mix should protect pricing and expand gross profit even when headline revenue is uneven.
The recurring consumables and procedure-driven nature of the business should translate accounting earnings into strong operating cash flow, giving Haemonetics funding flexibility even when GAAP earnings are volatile.
Haemonetics’ capital allocation must stay disciplined because the balance sheet can support investment, but liabilities leave less room for a large failed acquisition or prolonged operating stumble.
Bear case: what the evidence questions
The company’s operating model must convert higher gross profit into GAAP operating income; otherwise spending, integration, or compliance costs are absorbing the economic advantage.
Thesis-Break Engine
Thesis-break watch · Haemonetics
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedRegulation FD disclosure.
Haemonetics filed an SEC 8-K on 2026-10-08: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedRegulation FD disclosure.
Haemonetics filed an SEC 8-K on 2026-08-18: Regulation FD disclosure. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Haemonetics filed an SEC 8-K on 2026-08-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A major plasma-collection customer standardizes new centers on a competing platform from Terumo Blood and Cell Technologies, Fresenius Kabi, or Grifols.
- Hospital group purchasing organizations or plasma customers force price concessions that offset procedure-volume growth.
- Product-quality, regulatory, or supply-chain issues require elevated spending and prevent operating leverage.
- Large hospital or plasma customers stretch payment terms or reduce inventory commitments.
- Management pursues a large debt-funded acquisition in an adjacent device category without clear customer overlap.
HAE news
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Financial statements
HAE income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
HAE: quick answers
- Have members of Congress traded HAE?
- 13 trades in HAE have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed HAE trade
- Which well-known investors own HAE?
- 1 of the 37 well-known funds tracked here reported HAE shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
HAE in well-known investors’ portfolios
1 of 37 funds reported HAE shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.02% | $4.5M | +23.5% | Q2 2026 |