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Heritage Financial Corporation

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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Market cap: $1.2B
P/E: 14.1×
Fwd P/E: 14.6×
Dividend yield: 3.43%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

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

Show all line items

Columns are period end dates · fundamentals updated 2 Nov 2026

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