HARROW, INC. (HROW) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Jun 27, 2026
HARROW, INC. (HROW)
A forensic read on HARROW, INC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
1.3
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-33.7%
ROE
$1.6B
Market cap
HARROW, INC. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 1.3, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+11.3%/yrShare-count dilution.Diluted share count changed +34% over the last 3 years to FY2025 (+11.3%/yr). The count is GROWING — existing holders are being diluted. That's ~11.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~34%.
10%Return on invested capital.Return on invested capital is 10% and rising from 4% — around its ~10% cost of capital, so growth is roughly value-neutral — watch the trend.
5% of revStock-based comp load.Stock-based compensation ran 5% of revenue and 29% of free cash flow in FY2025 — about $0.34 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$2MGoodwill impairments.Took $2M of goodwill writedowns across 1 year(s) (FY2019 ($2M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-1.9%
Debt / Equity4.78x
Free Cash Flow$43.0M
Latest Revenue$272.3M
Return on Equity-9.8%
Revenue Growth YoY+36.4%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on HARROW, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about HROW's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown