Haemonetics (HAE) has just wrapped up FY 2026 with fourth quarter revenue of US$346.4 million and a basic EPS loss of US$0.44, alongside trailing twelve month revenue of about US$1.33 billion and EPS of US$2.06. Over the last two reported years, quarterly revenue has moved within a tight band from US$321.4 million to US$348.5 million while basic EPS has ranged from US$0.71 to US$1.18 in profitable quarters, before the recent loss. With a trailing net profit margin of 7.3% affected by a one off US$84.7 million loss, the latest numbers keep the focus squarely on how quickly margins can stabilise and rebuild.

See our full analysis for Haemonetics.

With the headline figures in place, the next step is to see how these results line up against the most common narratives around Haemonetics, highlighting where the story holds and where the recent margin pressure raises fresh questions.

Margins Hit By US$84.7m One Off

• Trailing net profit margin is 7.3%, down from 12.3% the prior year, with an US$84.7 million one off loss weighing on the last 12 months.
• Critics highlight that dependence on a few core products and segments could keep pressure on profitability, and the recent margin drop gives some support to that bearish angle:
  • Net income over the last 12 months is US$97.3 million on US$1.33b of revenue, which is a step down from the prior year margin level cited in the analysis.
  • If underperforming areas like Vascular Closure and Interventional Technologies do not improve, bears argue margins could stay closer to the current 7.3% rather than the higher levels analysts model for later years.

Skeptics point to the recent margin compression as a warning sign for future profitability, while others see it as a one off reset rather than a structural shift, and the full bearish narrative lays out that more cautious case in detail 🐻 Haemonetics Bear Case.

Premium 26x P/E With 5% Revenue Growth

• Haemonetics trades on a trailing P/E of 26x compared with 24.5x for peers and 23.9x for the wider US Medical Equipment industry, while revenue growth is reported at about 5% per year versus a 11.4% market comparator.
• Consensus narrative highlights earnings growth expectations of about 24% per year, yet the current premium P/E and modest 5% revenue growth create a clear tension:
  • Bulls point to trailing EPS of US$2.06 and five year earnings growth of about 21.9% annually as evidence the company can grow into the 26x multiple.
  • Bears counter that slower 5% revenue growth and the recent margin drop could make it harder to sustain that earnings trajectory if cost control or volume trends soften.

DCF Fair Value Sits Well Above US$54.37

• A DCF fair value of US$96.20 compares with a current share price of US$54.37, implying the stock trades about 43.5% below that modelled value.
• Supporters of the bullish view lean heavily on this DCF gap and earnings forecasts, but the recent financials show why others are more cautious:
  • On a trailing twelve month basis, net income of US$97.3 million on US$1.33b of revenue underpins the cash flow assumptions, yet the 7.3% margin is below the 12.3% level referenced for the prior year.
  • Bulls argue that technology driven recurring revenue and hospital product growth can help move margins closer to the higher levels analysts model, while skeptics point to elevated debt and premium P/E as reasons the DCF gap may not close quickly.

If you want to see how supporters of the optimistic case connect these earnings and valuation gaps to their long term story for the stock, the detailed bullish narrative sets out their assumptions and risks side by side 🐂 Haemonetics Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Haemonetics on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

With sentiment clearly split between the recent margin hit and the longer term growth story, this is a good moment to look through the numbers yourself and decide where you stand. To weigh the balance of concerns and potential upside, start by checking the 2 key rewards and 3 important warning signs.

Explore Alternatives

Haemonetics is wrestling with margin pressure from a US$84.7 million one off loss, modest 5% revenue growth, and a premium 26x P/E relative to peers.

If that mix of compressed profitability and a rich valuation makes you cautious, compare it with companies that look cheaper against their fundamentals using the 51 high quality undervalued stocks.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.