Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Heritage Financial Corporation's quarterly P/E stands at 9.1x, down 48.0% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 51.6% YoY to 8.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 14.01 | 9.10 | 10.80 | 17.03 | 15.21 | 17.50 | 16.49 | 10.99 | 30.30 | 29.71 | 8.00 | 8.42 | 9.22 |
| — | -48.0% | -34.5% | +54.9% | -49.8% | -41.1% | +106.3% | +30.5% | +228.5% | +148.2% | -28.7% | -30.4% | -17.5% | |
| P/S Ratio | 2.78 | 2.34 | 2.37 | 2.57 | 2.58 | 2.57 | 2.31 | 1.92 | 2.39 | 2.64 | 1.80 | 1.84 | 2.53 |
| — | -9.0% | +2.6% | +33.6% | +8.1% | -2.5% | +28.7% | +4.8% | -5.6% | -29.5% | -47.5% | -51.6% | -34.8% | |
| P/B Ratio | 1.03 | 0.88 | 0.92 | 0.93 | 0.95 | 0.98 | 0.86 | 0.74 | 0.81 | 0.88 | 0.70 | 0.69 | 0.92 |
| — | -9.9% | +6.7% | +25.1% | +18.2% | +11.5% | +22.6% | +6.8% | -12.2% | -35.4% | -41.8% | -37.4% | -15.0% | |
| P/FCF | 10.90 | 9.13 | 8.53 | 9.83 | 11.61 | 10.68 | 8.12 | 26.37 | 14.22 | 6.29 | 5.24 | 6.11 | 10.12 |
| — | -14.5% | +5.1% | -62.7% | -18.4% | +69.8% | +55.0% | +331.7% | +40.6% | -29.9% | -38.8% | -38.3% | -53.5% | |
| EV / EBITDA | 11.59 | 7.99 | 8.25 | 14.28 | 12.97 | 16.51 | 18.15 | 15.33 | 32.36 | 32.85 | 9.20 | 11.31 | 8.63 |
| — | -51.6% | -54.5% | -6.8% | -59.9% | -49.8% | +97.3% | +35.5% | +275.0% | +268.9% | +69.6% | +2723.5% | +225.3% | |
| EV / EBIT | 11.87 | 8.08 | 8.37 | 14.77 | 13.57 | 17.37 | 18.81 | 16.22 | 36.96 | 39.81 | 9.72 | 12.20 | 9.13 |
| — | -53.5% | -55.5% | -9.0% | -63.3% | -56.4% | +93.6% | +33.0% | +304.8% | +322.3% | +68.0% | +2852.7% | +237.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Heritage Financial Corporation's operating margin was 28.6% in Q4 2025, up 3.2 pp QoQ and up 8.8 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 23.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 12.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.4% | 76.4% | 72.8% | 69.4% | 70.8% | 67.9% | 64.1% | 67.3% | 66.1% | 69.3% | 78.7% | 79.1% | 88.5% |
| — | +12.5% | +13.5% | +3.1% | +7.1% | -2.0% | -18.5% | -14.9% | -25.3% | -26.3% | -16.7% | -20.2% | -14.4% | |
| Operating Margin | 23.2% | 28.6% | 25.4% | 18.1% | 19.9% | 19.9% | 16.0% | 19.5% | 9.6% | 9.2% | 27.3% | 25.7% | 32.9% |
| — | +44.2% | +58.7% | -7.6% | +106.9% | +114.7% | -41.5% | -23.9% | -70.8% | -75.9% | -26.9% | -33.1% | -19.4% | |
| Net Margin | 20.1% | 25.6% | 21.8% | 15.3% | 17.1% | 14.5% | 14.0% | 17.3% | 8.0% | 8.8% | 22.8% | 21.8% | 27.3% |
| — | +76.6% | +56.0% | -11.8% | +112.8% | +65.5% | -38.8% | -20.5% | -70.5% | -71.8% | -25.4% | -31.2% | -21.0% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.6% | 2.4% | 2.1% | 1.4% | 1.6% | 1.4% | 1.3% | 1.7% | 0.7% | 0.7% | 2.2% | 2.0% | 2.5% |
| — | +77.5% | +61.5% | -17.2% | +135.9% | +83.5% | -40.6% | -18.5% | -73.2% | -73.9% | -15.9% | -10.4% | +6.9% | |
| ROA | 1.0% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.3% | 0.2% | 0.3% |
| — | +90.1% | +69.4% | -14.0% | +142.4% | +92.3% | -37.1% | -14.8% | -72.0% | -72.6% | -11.7% | -6.5% | +8.6% | |
| ROIC | 5.2% | 1.8% | 1.5% | 0.9% | 1.0% | 1.0% | 0.7% | 0.9% | 0.4% | 0.4% | 1.2% | 1.1% | 1.7% |
| — | +91.2% | +102.2% | +5.8% | +165.0% | +161.6% | -40.4% | -23.7% | -78.3% | -85.0% | -45.0% | -40.4% | -10.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Heritage Financial Corporation's Debt/EBITDA ratio is 1.7x, down from 7.1x last quarter — comfortably within a safe range. The current ratio has improved 645.3% YoY to 1.18x, strengthening the short-term liquidity position. Debt/Equity has declined for 5 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.18 | 0.32 | 0.33 | 0.47 | 0.46 | 0.61 | 0.62 | 0.61 | 0.61 | 0.62 | 0.54 |
| — | -90.2% | -61.6% | -47.6% | -47.2% | -23.3% | -24.1% | -1.3% | +14.6% | +616.8% | +663.9% | +693.2% | +527.6% | |
| Debt / EBITDA | 0.53 | 1.68 | 7.08 | 19.09 | 16.95 | 23.57 | 29.83 | 30.84 | 66.54 | 65.47 | 21.49 | 23.80 | 17.00 |
| — | -92.9% | -76.3% | -38.1% | -74.5% | -64.0% | +38.8% | +29.6% | +291.3% | +2739.2% | +850.5% | +773.6% | +443.4% | |
| Current Ratio | 1.18 | 1.18 | 0.14 | 0.15 | 0.16 | 0.16 | 0.18 | 0.19 | 0.22 | 0.25 | 0.24 | 0.29 | 0.32 |
| — | +645.3% | -23.2% | -23.2% | -28.5% | -35.6% | -22.3% | -33.8% | -31.8% | -13.3% | -24.8% | -21.5% | -24.8% | |
| Quick Ratio | 1.18 | 1.18 | 0.14 | 0.15 | 0.16 | 0.16 | 0.18 | 0.19 | 0.22 | 0.25 | 0.24 | 0.29 | 0.32 |
| — | +645.3% | -23.2% | -23.2% | -28.5% | -35.6% | -22.3% | -33.8% | -31.8% | -13.3% | -24.8% | -21.5% | -24.8% | |
| Interest Coverage | 0.87 | 1.21 | 1.01 | 0.61 | 0.68 | 0.65 | 0.49 | 0.63 | 0.30 | 0.32 | 1.22 | 1.39 | 3.62 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Heritage Financial Corporation's current P/E is 14.0x. The average P/E over the last 4 quarters is 13.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Heritage Financial Corporation's current operating margin is 23.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Heritage Financial Corporation's business trajectory between earnings reports.