Haemonetics (HAE) has just posted its Q3 2026 numbers, reporting revenue of US$339 million and basic EPS of US$0.96, compared with trailing twelve month EPS of US$3.66 and net income of US$175 million. The company’s quarterly revenue has moved from US$330.6 million in Q4 2025 to US$338.0 million in Q3 2026, while basic EPS has ranged from US$0.71 in Q1 2026 to US$0.96 in the latest quarter. This gives investors a clearer view of how recent earnings relate to its trailing profitability. With trailing net profit margins running above last year and the latest quarter reinforcing that trend, this update keeps the focus on how efficiently Haemonetics is converting its top line into bottom line results.

With the headline numbers now available, the next step is to see how this earnings release compares with the main narratives around Haemonetics, highlighting where the data supports those narratives and where it begins to challenge them.

Margin Profile Strengthens At 13.3%

• Over the last 12 months, Haemonetics converted US$1.3b of revenue into US$175.4 million of net income, giving it a 13.3% net margin compared with 9.5% last year.
• What stands out for bullish investors is that 35% year over year earnings growth together with this higher 13.3% margin sits alongside more modest revenue growth forecasts of about 5.5% a year, which
  • supports the bullish view that profit quality matters, because EPS over the last 12 months reached US$3.66 while revenue was broadly flat on a trailing basis,
  • but also reminds bulls that margin resilience is doing more of the heavy lifting than top line expansion according to the 5.5% revenue and 12.6% earnings growth outlook.

Over the past year of stronger margins and 35% earnings growth, some investors are asking whether this is a turning point for Haemonetics or just a high point in the cycle. 📊 Read the full Haemonetics Consensus Narrative.

Earnings Outpace Sales In Recent Periods

• Within fiscal 2026 so far, revenue has moved from US$321.4 million in Q1 to US$338.0 million in Q3, while basic EPS stepped up from US$0.71 to about US$0.96 over the same stretch.
• Analysts who lean bullish argue that this pattern of EPS growing faster than revenue is a sign of stronger underlying profitability, and the data supports that view to a degree because
  • net income for these quarters progressed from US$34.0 million in Q1 2026 to US$44.7 million in Q3 on revenue that stayed within a fairly tight US$321.4 million to US$338.0 million range,
  • and over the longer 5 year period, earnings have compounded at about 22.3% a year while the latest trailing EPS of US$3.66 reflects that earnings focused story more than pure revenue expansion.

Valuation And Debt Tell A Mixed Story

• At a share price of US$59.34, Haemonetics trades on a trailing P/E of 15.7x versus peers at 32.6x and the wider US Medical Equipment group at 30.7x, while analyst targets cluster around US$88.00 and the DCF fair value figure in the data is US$95.34.
• Critics point to the company’s high debt level as a key risk, and that concern sits alongside the valuation signals because
  • the shares are about 48% below the US$88.00 analyst target and roughly 37.8% below the cited DCF fair value of US$95.34, which value oriented investors may see as a cushion,
  • yet the same risk summary that flags this valuation gap also highlights leverage as a factor that could limit flexibility, so bears can argue the lower 15.7x P/E partly reflects that balance sheet risk.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Haemonetics's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

See What Else Is Out There

Haemonetics pairs stronger margins with relatively high leverage and a lower P/E, which some investors may see as a sign that balance sheet risk is front of mind.

If that level of debt makes you uneasy and you would rather focus on sturdier finances, check out our solid balance sheet and fundamentals stocks screener (45 results) to quickly spot companies with stronger cushions against shocks.

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.