Heritage Financial Corporation (HFWA) P/E Ratio History
Historical price-to-earnings valuation from 1999 to 2025
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HFWA Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Heritage Financial Corporation (HFWA) trades at a price-to-earnings ratio of 14.0x, with a stock price of $27.46 and trailing twelve-month earnings per share of $1.96.
The current P/E is 10% above its 5-year average of 12.7x. Over the past five years, HFWA's P/E has ranged from a low of 7.1x to a high of 20.2x, placing the current valuation at the 60th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.4x, HFWA is roughly in line with its sector peers. The sector includes 774 companies with P/E ratios ranging from 0.0x to 195.8x.
The PEG ratio of 1.61 (P/E divided by 58% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, HFWA trades at a notable discount to the S&P 500 median P/E of 25.2x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our HFWA DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
HFWA P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $7B | 13.1 | - | -10% | |
| $3B | 13.6 | 4.40 | +5% | |
| $5B | 13.4 | 4.42 | +4% | |
| $2B | 15.3 | 1.86 | +16% | |
| $3B | 13.6 | 4.27 | +6% | |
| $6B | 25.0 | - | +18% | |
| $5B | 20.9 | 4.01 | +12% | |
| $24B | 61.3 | 2.51 | -47% | |
| $696M | 9.8Lowest | 1.04Best | +231%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
HFWA Historical P/E Data (1999–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $23.65 | $1.96 | 12.1x | -37% |
| FY2025 Q3 | $24.19 | $1.66 | 14.6x | -23% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $23.84 | $1.43 | 16.7x | -12% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $24.33 | $1.49 | 16.3x | -14% |
| FY2024 Q4 | $24.50 | $1.25 | 19.6x | +3% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $21.77 | $1.08 | 20.2x | +6% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $18.03 | $1.26 | 14.3x | -25% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $19.39 | $1.33 | 14.6x | -23% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $21.39 | $1.75 | 12.2x | -36% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $16.31 | $2.21 | 7.4x | -61% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $16.17 | $2.29 | 7.1x | -63% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $21.40 | $2.33 | 9.2x | -52% |
Average P/E for displayed period: 19.0x
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Start ComparisonHFWA — Frequently Asked Questions
Quick answers to the most common questions about buying HFWA stock.
Is HFWA stock overvalued or undervalued?
HFWA trades at 14.0x P/E, near its 5-year average of 12.7x. The 60th percentile ranking places valuation within normal historical bounds.
How does HFWA's valuation compare to peers?
Heritage Financial Corporation P/E of 14.0x compares to sector median of 13.4x. The premium reflects expected growth above peers.
What is HFWA's PEG ratio?
HFWA PEG ratio is 1.61. Between 1-2 suggests valuation aligns with growth. Historical P/E data spans 1999-2025.