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Friday 6 November 2026
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Heritage Financial Corporation
HFWA Financial Banks Regional
Heritage Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $336.0 million, up 5.92% from fiscal 2024.
- Revenue
- +24.6%
- EPS
- −17.9%
- Free cash flow
- +0.66%
- Total debt
- −9.86%
Quarter to September 2026, against a year earlier
28.40
0.16
−0.56%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
19.92 | 21.70 | 19.95 | 15.38 | 18.13 | 8.89 | 13.04 | 12.02 | 19.44 | 11.88 |
Piotroski F-Score |
6 | 6 | 6 | 6 | 7 | 6 | 6 | 6 | 7 | 8 |
P/S ratio |
4.52 | 4.92 | 4.53 | 4.16 | 3.35 | 3.52 | 4.15 | 2.44 | 2.66 | 2.39 |
P/FCF ratio |
16.04 | 12.80 | 15.57 | 13.08 | 13.19 | 13.10 | 11.78 | 7.47 | 13.82 | 9.38 |
P/Operating CF |
48.84 | 45.71 | 29.90 | 29.22 | 30.09 | 46.19 | 33.32 | 23.93 | 40.95 | 28.73 |
P/B ratio |
1.60 | 1.77 | 1.38 | 1.29 | 1.03 | 1.02 | 1.34 | 0.87 | 0.98 | 0.87 |
Price to Tangible BV |
2.16 | 2.35 | 2.10 | 1.89 | 1.49 | 1.44 | 1.94 | 1.22 | 1.36 | 1.18 |
EV/Sales |
4.49 | 4.97 | 3.91 | 3.33 | 0.48 | (3.35) | 3.83 | 3.42 | 3.57 | 1.83 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
14.16 | 12.39 | 10.00 | 9.00 | 1.71 | (11.94) | 10.42 | 9.47 | 17.56 | 6.47 |
EV/FCF |
15.95 | 12.93 | 13.46 | 10.46 | 1.88 | (12.47) | 10.87 | 10.46 | 18.53 | 7.15 |
Quick Ratio |
0.03 | 0.03 | 0.04 | 0.05 | 0.13 | 0.26 | 0.02 | 0.04 | 0.02 | 0.04 |
Current Ratio |
0.83 | 0.84 | 0.84 | 0.84 | 0.89 | 0.84 | 0.67 | 0.78 | 0.84 | 0.83 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
2.56% | 2.74% | 0.38% | 0.37% | 0.32% | 0.28% | 0.31% | 7.27% | 5.70% | 0.61% |
Debt/Equity |
0.21 | 0.22 | 0.03 | 0.03 | 0.03 | 0.02 | 0.03 | 0.61 | 0.47 | 0.05 |
Asset Turnover |
0.05 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 |
Operating CF/Net income |
1.40 | 1.77 | 1.71 | 1.37 | 1.51 | 0.71 | 1.15 | 1.77 | 1.49 | 1.40 |
Capex/Depreciation |
(0.48) | (0.28) | (1.08) | (0.71) | 74.06 | 0.16 | (1.26) | (0.47) | (0.15) | (0.34) |
| 8.10% | 8.38% | 8.33% | 8.61% | 5.71% | 11.71% | 9.91% | 7.48% | 5.04% | 7.57% | |
| 1.02% | 1.04% | 1.12% | 1.24% | 0.77% | 1.40% | 1.14% | 0.87% | 0.61% | 0.96% | |
ROIC |
6.90% | 7.26% | 6.49% | 8.42% | 33.91% | 0.00% | 8.68% | 3.96% | 2.84% | 6.72% |
Return on Tangible Assets |
(7.74%) | (8.34%) | (8.04%) | (10.32%) | (8.91%) | (10.16%) | (4.19%) | (5.18%) | (4.92%) | (7.14%) |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
64.65% | 61.93% | 65.14% | 58.77% | 72.16% | 47.20% | 57.11% | 55.58% | 51.37% | 49.52% |
Intangible Assets out of Total Assets |
0.03 | 0.03 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 |
Share Based Compensation of Revenue |
1.08% | 1.15% | 1.19% | 1.29% | 1.41% | 1.48% | 1.48% | 1.43% | 1.37% | 1.47% |
Graham Net Nets |
(0.86) | (0.74) | (0.72) | (0.73) | (0.75) | (1.22) | (1.92) | (2.42) | (1.61) | (1.32) |
Graham Number |
21.79 | 23.17 | 26.92 | 30.19 | 25.71 | 38.49 | 34.52 | 31.06 | 26.65 | 34.84 |
Earnings Yield |
5.02% | 4.61% | 5.01% | 6.50% | 5.52% | 11.25% | 7.67% | 8.32% | 5.14% | 8.41% |
Free Cash Flow Yield |
6.23% | 7.81% | 6.42% | 7.65% | 7.58% | 7.64% | 8.49% | 13.40% | 7.24% | 10.66% |
Revenue per Share |
5.73 | 6.16 | 6.56 | 6.81 | 6.98 | 6.94 | 7.32 | 8.66 | 9.20 | 9.88 |
Operating CF per Share |
1.82 | 2.47 | 2.57 | 2.52 | 1.95 | 1.95 | 2.69 | 3.13 | 1.87 | 2.79 |
Capex per Share |
(0.20) | (0.10) | (0.66) | (0.35) | (0.18) | (0.08) | (0.11) | (0.29) | (0.10) | (0.27) |
Free Cash Flow per Share |
1.61 | 2.37 | 1.91 | 2.16 | 1.77 | 1.87 | 2.58 | 2.83 | 1.77 | 2.52 |
Cash per Share |
3.50 | 3.46 | 4.60 | 6.22 | 20.64 | 48.30 | 2.95 | 6.42 | 3.40 | 6.86 |
Shareholders Equity per Share |
16.23 | 17.08 | 21.62 | 22.02 | 22.78 | 23.95 | 22.73 | 24.36 | 25.06 | 27.11 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
16.23 | 17.08 | 21.62 | 22.02 | 22.78 | 23.95 | 22.73 | 24.36 | 25.06 | 27.11 |
Free Cash Flow |
47.92 | 70.45 | 67.17 | 79.55 | 63.89 | 66.58 | 90.55 | 99.23 | 61.11 | 85.72 |
Working Capital |
(561.90) | (557.92) | (737.92) | (742.81) | (607.86) | (1,044.07) | (2,030.72) | (1,267.81) | (951.45) | (1,020.44) |
Capital Expenditures |
(6.06) | (3.06) | (23.24) | (12.94) | (6.44) | (2.95) | (3.91) | (10.30) | (3.38) | (9.10) |
Net Current Asset Value |
(661.22) | (670.43) | (758.22) | (763.40) | (628.74) | (1,065.25) | (2,052.20) | (1,789.58) | (1,356.51) | (1,062.79) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.02 | 0.10 | 0.05 | 0.03 | 0.01 | 0.02 | 0.03 | 0.01 | 0.03 |
Price to Operating Income |
14.58 | 14.99 | 16.27 | 12.84 | 15.84 | 7.24 | 10.73 | 10.16 | 16.16 | 10.23 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.20 | 0.18 | 0.26 | 0.21 | 0.00 | (0.23) | 0.04 | 0.29 | 0.32 | 0.36 |
Cash ROIC |
7.00% | 9.73% | 7.12% | 7.52% | 4.03% | 2.56% | 9.81% | 6.20% | 4.41% | 7.16% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
196,273.98 | 148,390.47 | 130,333.26 | 92,067.19 | 153,363.83 | 331,427.98 | 267,909.64 | 34,462.20 | 20,676.88 | 24,054.87 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
3,168.97 | 3,311.35 | 3,912.73 | 4,507.54 | 5,090.33 | 5,996.14 | 6,159.57 | 5,762.36 | 5,642.24 | 5,802.41 |
Average Assets |
3,764.89 | 3,996.13 | 4,715.10 | 5,434.95 | 6,084.14 | 7,023.87 | 7,206.26 | 7,077.53 | 7,140.62 | 7,036.81 |
Average Common Equity |
475.87 | 495.03 | 634.51 | 785.02 | 814.88 | 837.44 | 826.16 | 825.58 | 858.39 | 892.52 |
Columns are period end dates · fundamentals updated 2 Nov 2026