Stocktoria

HERITAGE FINANCIAL CORP /WA/ HFWA

Nasdaq · stock · Savings Institutions, Not Federally Chartered · website · IPO 1998-01-09

HERITAGE FINANCIAL CORP /WA/ statistics & valuation

P / E18.0×
P / B1.3×
P / FCF14.2×
Graham number +15.3%$34.34

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($34.34); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
8.10% 8.20% 7.00% 8.30% 5.70% 11.50% 10.30% 7.20% 5.00% 7.30% 2016201720182019202020212022202320242025
Shares outstanding
30.0M 29.9M 36.6M 37.0M 36.2M 36.0M 35.5M 35.3M 34.9M 34.5M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.00% 1.00% 1.00% 1.20% 0.70% 1.30% 1.20% 0.90% 0.60% 1.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$1.30 $1.39 $1.49 $1.83 $1.29 $2.73 $2.31 $1.75 $1.24 $1.96 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

HERITAGE FINANCIAL CORP /WA/ trades at about 15.2× earnings — below its 10-year norm (10-year range 8.9×–22.2×, median 18.3×).

8.9× 22.2×

Shaded band = 10-year range (8.9×–22.2×); dot = today's 15.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets1.0%0.6%0.9%1.2%1.3%0.7%1.2%1.0%1.0%1.0%
Return on equity7.3%5.0%7.2%10.3%11.5%5.7%8.3%7.0%8.2%8.1%

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.