HFWA (Heritage Financial Corporation) Stock Financials & Earnings | Market Cap Arena

HFWA (Heritage Financial Corporation) Stock Financials & Earnings | Market Cap Arena

HFWAHeritage Financial Corporation

Mkt Cap$864M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Revenue (TTM)$336M

Net Income (TTM)$68M

EPS (TTM)$1.96

Free Cash Flow (TTM)$33M

Gross Margin72.4%

Op. Margin23.2%

Net Margin20.1%

FCF Margin9.8%

P/S Ratio (TTM)2.6x

P/E Ratio (TTM)12.8x

YoY Rev Growth+5.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$75M	$66M	$25M
Q2 23	$77M	$61M	$20M
Q3 23	$80M	$63M	$22M
Q4 23	$71M	$49M	$7M
Q1 24	$71M	$47M	$7M
Q2 24	$82M	$55M	$16M
Q3 24	$82M	$52M	$13M
Q4 24	$82M	$56M	$16M
Q1 25	$81M	$58M	$16M
Q2 25	$80M	$56M	$14M
Q3 25	$88M	$64M	$22M
Q4 25	$87M	$66M	$25M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.1x	10.5x
Q2 23	2.9x	10.7x
Q3 23	2.8x	11.1x
Q4 23	2.9x	14.0x
Q1 24	2.9x	18.4x
Q2 24	2.8x	19.5x
Q3 24	2.8x	23.0x
Q4 24	2.7x	20.0x
Q1 25	2.6x	16.8x
Q2 25	2.7x	17.5x
Q3 25	2.6x	15.1x
Q4 25	2.6x	12.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$23M	$19M
Q2 23	$24M	$23M
Q3 23	$31M	$27M
Q4 23	$31M	$30M
Q1 24	$13M	$12M
Q2 24	$7M	$6M
Q3 24	$24M	$23M
Q4 24	$21M	$20M
Q1 25	$19M	$18M
Q2 25	$23M	$21M
Q3 25	$25M	$24M
Q4 25	-$26M	-$30M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$5M
Q2 23	$824K
Q3 23	$4M
Q4 23	$1M
Q1 24	$893K
Q2 24	$823K
Q3 24	$941K
Q4 24	$802K
Q1 25	$1M
Q2 25	$2M
Q3 25	$678K
Q4 25	$4M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+31.1%	+48.7%
Q2 23	+31.7%	+58.8%
Q3 23	+16.3%	+35.0%
Q4 23	-2.1%	+44.3%
Q1 24	-4.6%	+28.5%
Q2 24	+5.8%	+14.5%
Q3 24	+2.4%	+18.4%
Q4 24	+15.7%	+2.1%
Q1 25	+13.7%	+0.8%
Q2 25	-2.2%	-0.4%
Q3 25	+7.6%	-4.5%
Q4 25	+5.6%	-6.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$1M	1.5%
Q2 23	$985K	1.3%
Q3 23	$1M	1.4%
Q4 23	$1M	1.6%
Q1 24	$1M	1.4%
Q2 24	$1M	1.3%
Q3 24	$1M	1.4%
Q4 24	$1M	1.4%
Q1 25	$1M	1.6%
Q2 25	$1M	1.6%
Q3 25	$1M	1.4%
Q4 25	$1M	1.4%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$26M	$402K
Q2 23	$26M	$441K
Q3 23	$26M	$389K
Q4 23	$26M	$698K
Q1 24	$26M	$211K
Q2 24	$25M	$244K
Q3 24	$25M	$128K
Q4 24	$25M	$405K
Q1 25	$27M	$335K
Q2 25	$26M	$336K
Q3 25	$27M	$284K
Q4 25	$40M	$296K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$301M	$1.3B	$1.6B
Q2 23	$108M	$1.3B	$1.4B
Q3 23	$221M	$1.1B	$1.4B
Q4 23	$225M	$1.1B	$1.4B
Q1 24	$190M	$997M	$1.2B
Q2 24	$114M	$931M	$1.0B
Q3 24	$176M	$853M	$1.0B
Q4 24	$117M	$764M	$881M
Q1 25	$249M	$643M	$892M
Q2 25	$254M	$585M	$839M
Q3 25	$245M	$562M	$807M
Q4 25	$53M	$608M	$660M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	35M	-0.1%
Q2 23	35M	-0.9%
Q3 23	35M	-0.0%
Q4 23	35M	-0.1%
Q1 24	35M	+0.4%
Q2 24	35M	-0.9%
Q3 24	35M	-0.7%
Q4 24	35M	-0.3%
Q1 25	35M	-0.1%
Q2 25	35M	+0.0%
Q3 25	34M	-0.3%
Q4 25	34M	-0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$184K	748
FY 15	$234K	717
FY 16	$224K	760
FY 17	$249K	735
FY 18	$269K	859
FY 19	$283K	884
FY 20	$313K	804
FY 21	$340K	727
FY 22	$324K	793
FY 23	$397K	764
FY 24	$433K	733
FY 25	$465K	723