Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 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
Safe
Financial health
5.6
Distress distance
Clean
Earnings quality
6
Forensic signals
-103.0
P / E (ttm)
-9.8%
ROE
$1.5B
Market cap
0.00%
Dividend yield
36.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Harrow, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 5.6, placing it in the Safe zone. 6 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+10.2%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +34% over the last 3 years to FY2025 (+10.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~10.2% 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 ~25%.
stopped
FY2013→FY2014
Shareholder returns — halted.Capital returns have STOPPED — $191 of buybacks + dividends in FY2013, but ~$0 in FY2014. A halt usually means the company is conserving cash.
152d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 140 to 152 days FY2024→FY2025 (receivables -5% vs revenue +36%). Receivables are creeping up relative to sales. Across FY2021–FY2025 the day count ran 18 → 22 → 60 → 140 → 152 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter.
10.5%
FY2025
Return on invested capital.Return on invested capital is 10.5% in the latest fiscal year and rising from 4% — around its ~10% cost of capital, so growth is roughly value-neutral.
5% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 5% of revenue and 29% of free cash flow in FY2025 — about $0.34 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 10.4% a year and is falling.
Key fundamentals
Latest Revenue$272.3M
Revenue Growth YoY+36.4%
Revenue CAGR (3yr)+45.4%
Net Margin-1.9%
Free Cash Flow$43.0M
Return on Equity-9.8%
Debt / Equity4.77x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Harrow, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Harrow, Inc. (HROW) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$2M
FY2019–FY2019
Goodwill impairments.Took $2M of goodwill writedowns across 1 year (FY2019 ($2M)) — about 1128% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.