Haemonetics (HAE) FY2025 results: revenue $1.4 billion, up 4.0% on the year

Haemonetics Corp. (HAE) reported revenue of $1.4 billion for fiscal 2025, the year ended 29 March 2025, up 4.0% on the year before. Net income was $168 million, up 42.6%, and diluted earnings per share $3.31. The figures are the company's own, from the 10-K it filed with the SEC on 21 May 2025.

Revenue

$1.4 billion

+4.0% on the year

FY2018FY2025

Operating margin

16.3%

12.6% a year earlier

FY2018FY2025

Net income

$168 million

+42.6% on the year

FY2018FY2025

Diluted EPS

$3.31

+44.5% on the year

FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ million	FY2025	FY2024	FY2023	On the year
Revenue	1,361	1,309	1,169	+4.0%
Cost of revenue	612	618	554	-0.9%
Gross profit	749	692	615	+8.3%
Gross margin	55.0%	52.8%	52.6%
Research and development	62.7	54.4	50.1	+15.2%
Selling, general and administrative	437	430	377	+1.6%
Operating income	222	165	156	+34.5%
Operating margin	16.3%	12.6%	13.4%
Interest expense	35.9	19.5	13.0	+84.1%
Pre-tax income	212	152	141	+39.6%
Income tax	44.4	34.3	26.0	+29.4%
Effective tax rate	20.9%	22.6%	18.4%
Net income	168	118	115	+42.6%
Net margin	12.3%	9.0%	9.9%
Diluted EPS	$3.31	$2.29	$2.24	+44.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2025	FY2024	FY2023	On the year
Operating cash flow	182	182	273	-0.0%
Capital expenditure	39.3	38.1	191	+3.0%
Free cash flow	142	144	81.7	-0.8%
Free cash flow margin	10.5%	11.0%	7.0%
Cash from investing	-162	-322	-144
Cash from financing	109	38.2	-100	+185.2%
Depreciation and amortisation	116	97.2	93.3	+18.9%
Share-based compensation	29.6	28.3	25.6	+4.6%
Buybacks	225	0.0	75.0
Diluted shares, weighted	51m	51m	51m	-1.3%
Shares outstanding at period end	48m	51m	50m	-5.1%

Balance sheet

$ million	FY2025	FY2024	FY2023	On the year
Shareholders' equity	821	960	818	-14.5%
Debt	1,246	808	766	+54.3%
Operating lease liabilities	50.5	58.0	55.9	-12.9%
Other liabilities	334	370	295	-9.8%
Total liabilities and equity	2,451	2,196	1,935	+11.6%
Fixed assets	284	311	311	-8.8%
Goodwill	604	565	466	+6.9%
Intangible assets	456	406	276	+12.2%
Cash and equivalents	307	179	284	+71.6%
Receivables	203	207	179	-1.9%
Inventory	365	317	259	+15.1%
Other assets	232	210	159	+10.4%
Total assets	2,451	2,196	1,935	+11.6%

10-K for the year ended 29 March 2025, filed 21 May 2025: the filing.