Haivision Systems Inc
Haivision Systems Inc develops and sells real-time video streaming and encoding solutions for broadcast, enterprise, and government markets.
Business. Haivision Systems Inc (HAI.TO) is a technology equipment company operating in the integrated hardware and software industry. The firm generates revenue primarily through product sales. Specific details regarding operating segments and geographic mix are not available. The company is listed under the ticker HAI.TO.
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4 analysts · consensus BuyAt a glance
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- Macro
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-07-08 · AU
- Rate decisionBank of Canada rate decision (press conf.)2026-07-15 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-07-16 · EU
- Rate decisionBank of Japan rate decision (press conf.)2026-07-16 · JP
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Composite-score breakdown
Synthesis
Haivision Systems Inc (HAI.TO) is a technology equipment company operating in the integrated hardware and software industry. The firm generates revenue primarily through product sales. Specific details regarding operating segments and geographic mix are not available. The company is listed under the ticker HAI.TO.
Haivision maintains a conservative capital structure with a debt-to-equity ratio of 0.12 and a current ratio of 1.75, indicating strong short-term liquidity. Free cash flow of CAD 3.33 million and operating cash flow of CAD 8.77 million support financial flexibility, though net cash is negative after subtracting total debt.
Profitability metrics show a return on equity of 0.98% and return on assets of 0.66%, both below the typical thresholds for high-margin technology firms. Operating income of CAD 1.85 million and net income of CAD 0.93 million reflect modest earnings relative to total assets of CAD 140.29 million.
The company operates as a single business segment with no disclosed geographic revenue breakdown. This lack of diversification increases exposure to market-specific risks, particularly in its core technology equipment segment.
Outlook data indicates flat revenue growth with no significant changes expected in the next fiscal year. Capital expenditures of CAD -0.59 million suggest minimal investment in new infrastructure, aligning with the company's current operational scale.
Risk assessment highlights medium liquidity risk due to negative net cash after debt and low dilution risk. No significant dilution sources are identified in recent filings, and shares outstanding remain unchanged between basic and diluted counts.
Recent analyst estimates show a mean price target of CAD 10.94 with a mean recommendation of 1.75 (leaning toward buy). No major events or filings have been disclosed in the latest data, suggesting stable operations with no immediate strategic shifts.
- Haivision maintains strong liquidity with a current ratio of 1.75 but faces medium liquidity risk due to negative net cash after debt.
- Profitability metrics (ROE 0.98%, ROA 0.66%) are below typical thresholds for high-margin technology firms.
- The company operates as a single segment with no geographic diversification, increasing market-specific risk exposure.
- Analysts project a mean price target of CAD 10.94 with a buy-leaning recommendation, but no significant growth drivers are identified in the outlook.
- Minimal capital expenditures and flat revenue guidance suggest a conservative growth strategy with limited near-term expansion plans.
Bull / Bear case
Generated · model-assistedAnalysts project 146.9% upside to a mean price target of $10.94, signaling strong market confidence in future growth.
Cash conversion of 9.41 is best-in-class compared to the 0.11 cohort median, highlighting exceptional efficiency in generating cash from operations.
Revenue grew at a 10.4% CAGR over four years, indicating consistent top-line expansion despite recent quarterly fluctuations.
The debt-to-equity ratio of 0.12 is below the 0.18 cohort median, reflecting a conservative capital structure with lower financial risk.
The company faces high credit risk, suggesting significant concerns regarding its ability to meet financial obligations or maintain solvency.
In focus — financials by report
Revenue C$35.2M, +25,1% YoY; Operating income +90,9% YoY.
- ▍Revenue C$35.2M, +25,1% YoY
- ▍Operating income +90,9% YoY
- ▍Net income +83,4% YoY
- ▍Free cash flow +198,9% YoY
- ▍Net margin -0.5%
Revenue C$40.2M, +33,2% YoY; Operating income +1 585,2% YoY.
- ▍Revenue C$40.2M, +33,2% YoY
- ▍Operating income +1 585,2% YoY
- ▍Net income +65,7% YoY
- ▍Free cash flow +49,7% YoY
- ▍Net margin 8.5%
Revenue C$35.0M, +14,3% YoY; Operating income −74,1% YoY.
- ▍Revenue C$35.0M, +14,3% YoY
- ▍Operating income −74,1% YoY
- ▍Net income −58,8% YoY
- ▍Free cash flow −7,2% YoY
- ▍Net margin 0.5%
Revenue C$34.3M, +0,3% YoY; Operating income −271,6% YoY.
- ▍Revenue C$34.3M, +0,3% YoY
- ▍Operating income −271,6% YoY
- ▍Net income −356,6% YoY
- ▍Free cash flow −118,8% YoY
- ▍Net margin -7.0%
Revenue C$28.2M; Operating income -C$2.2M.
- ▍Revenue C$28.2M
- ▍Operating income -C$2.2M
- ▍Net margin -3.8%
Revenue C$30.1M; Operating income C$229.9k.
- ▍Revenue C$30.1M
- ▍Operating income C$229.9k
- ▍Net margin 6.8%
Revenue C$30.6M; Operating income C$1.1M.
- ▍Revenue C$30.6M
- ▍Operating income C$1.1M
- ▍Net margin 1.4%
Revenue C$34.2M; Operating income C$1.8M.
- ▍Revenue C$34.2M
- ▍Operating income C$1.8M
- ▍Net margin 2.7%
Revenue C$137.6M, +6,2% YoY; Operating income −121,6% YoY.
- ▍Revenue C$137.6M, +6,2% YoY
- ▍Operating income −121,6% YoY
- ▍Net income −97,6% YoY
- ▍Free cash flow −42,1% YoY
- ▍Net margin 0.1%
Revenue C$129.5M, −7,4% YoY; Operating income +345,8% YoY.
- ▍Revenue C$129.5M, −7,4% YoY
- ▍Operating income +345,8% YoY
- ▍Net income +471,3% YoY
- ▍Free cash flow +70,5% YoY
- ▍Net margin 3.6%
Revenue C$139.9M, +11,3% YoY; Operating income +123,7% YoY.
- ▍Revenue C$139.9M, +11,3% YoY
- ▍Operating income +123,7% YoY
- ▍Net income +79,6% YoY
- ▍Free cash flow +628,2% YoY
- ▍Net margin -0.9%
Revenue C$125.7M, +35,8% YoY; Operating income +5,3% YoY.
- ▍Revenue C$125.7M, +35,8% YoY
- ▍Operating income +5,3% YoY
- ▍Net income +29,5% YoY
- ▍Free cash flow +112,0% YoY
- ▍Net margin -4.9%
Valuation TTM
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Peer comparison
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Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,16 |
| Revenue | —no estimate | —no estimate | 149,2M CAD |
| Operating income | —no estimate | —no estimate | 4,4M CAD |
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consensus EPS · 26-week trendSell-side observations
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- Net cash is negative after subtracting total debt.
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- Haivision Systems Inc Market data — financials · 2026-05-28
- Haivision Systems Inc Market data — analyst estimates · 2026-05-28