Horizon Bancorp (IN) (HBNC) vs Heritage Financial Corporation (HFWA)

Horizon Bancorp (IN) and Heritage Financial Corporation are both Banks Regional companies. Horizon Bancorp (IN) and Heritage Financial Corporation are of similar size ($1.2B and $1.1B). Horizon Bancorp (IN) has negative trailing earnings, so its P/E is not meaningful; Heritage Financial Corporation trades at 14.1×. Heritage Financial Corporation grew revenue faster over the last twelve months: 21.5% against −74.2%. Heritage Financial Corporation has the higher net margin (19.2% vs −149.0%) and the higher return on invested capital (5.47% vs −17.9%). Both pay a dividend; Heritage Financial Corporation yields more (3.43% vs 3.06%). Across the 18 metrics below, Heritage Financial Corporation leads on 14 and Horizon Bancorp (IN) on 4.

Valuation

Metric HBNC HFWA Banks Regional median
P/E n/m 14.08 12.02
P/S 11.04 2.89 2.36
P/B 1.47 1.07 1.23
Price to free cash flow 11.34 14.48 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (15.13%) 7.10% 8.21%
Free cash flow yield 8.82% 6.90% 9.23%

Profitability

Metric HBNC HFWA Banks Regional median
Gross margin (13.47%) 78.21% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin (148.95%) 19.23% 18.82%
Free cash flow margin 97.31% 0.00% 17.97%
Return on equity (18.98%) 7.79% 10.28%
Return on assets (2.02%) 1.00% 1.13%
Return on invested capital (17.93%) 5.47% 8.45%

Growth

Metric HBNC HFWA Banks Regional median
Revenue growth (TTM) (74.21%) 21.51% 6.37%
EPS growth (last fiscal year) (493.75%) 58.06% 18.85%
Revenue growth, 5-year CAGR (16.35%) 5.96% 12.65%
Net income growth, 5-year CAGR 0.00% 7.72% 9.81%

Health

Metric HBNC HFWA Banks Regional median
Debt to equity 0.22 0.13 0.17
Current ratio 0.92 0.83 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric HBNC HFWA Banks Regional median
Dividend yield 3.06% 3.43% 2.49%
Payout ratio — 0.49 0.29

Size

Metric HBNC HFWA Banks Regional median
Market cap 1.07b 1.16b 934.85m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack