Heritage Commerce Corp (HTBK) Financial Ratios
29 years of historical data (1997–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
11.89
↑+92% vs avg
5yr avg: 6.19
30Y Low0.1·High18.7
P/FCF
↓
13.63
+13% vs avg
5yr avg: 12.09
30Y Low5.9·High76.2
P/B Ratio
↓
1.17
+11% vs avg
5yr avg: 1.05
30Y Low0.3·High4.9
ROE
↓
6.8%
-18% vs avg
5yr avg: 8.3%
30Y Low-32%·High15%
Debt/EBITDA
↓
0.56
+7% vs avg
5yr avg: 0.52
30Y Low0.1·High5.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HTBK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Heritage Commerce Corp trades at 17.2x earnings, 30% above its 5-year average of 13.2x, sitting at the 46th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a premium of 31%. On a free-cash-flow basis, the stock trades at 13.6x P/FCF, 13% above the 5-year average of 12.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $828M | $741M | $577M | $608M | $794M | $725M | $534M | $615M | $478M | $592M | $494M |
| Enterprise Value | $847M | $759M | $-351346740 | $240M | $527M | $-541664340 | $-557633970 | $197M | $353M | $314M | $228M |
| P/E Ratio → | 17.24 | 15.40 | 14.21 | 9.45 | 11.93 | 15.11 | 15.03 | 15.27 | 13.50 | 24.71 | 20.04 |
| P/S Ratio | 3.11 | 2.78 | 2.30 | 2.50 | 3.99 | 4.45 | 3.33 | 4.02 | 3.43 | 5.08 | 4.66 |
| P/B Ratio | 1.17 | 1.05 | 0.84 | 0.90 | 1.26 | 1.21 | 0.92 | 1.07 | 1.30 | 2.18 | 1.90 |
| P/FCF | 13.63 | 12.19 | 15.45 | 8.53 | 11.50 | 12.80 | 9.86 | 12.26 | 9.89 | 14.53 | 19.43 |
| P/OCF | 13.43 | 12.02 | 14.81 | 8.33 | 11.37 | 12.75 | 9.31 | 12.21 | 9.85 | 14.30 | 19.07 |
P/E links to full P/E history page with 30-year chart
HTBK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Heritage Commerce Corp's enterprise value stands at 11.9x EBITDA, 92% above its 5-year average of 6.2x. This is roughly in line with the Financial Services sector median of 11.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.85 | -1.40 | 0.98 | 2.65 | -3.32 | -3.48 | 1.29 | 2.53 | 2.70 | 2.15 |
| EV / EBITDA | 11.89 | 10.66 | -5.84 | 2.55 | 5.37 | -7.74 | -10.37 | 3.29 | 6.88 | 6.00 | 4.92 |
| EV / EBIT | 12.51 | 11.21 | -6.20 | 2.65 | 5.58 | -8.22 | -11.36 | 3.50 | 7.26 | 6.25 | 5.18 |
| EV / FCF | — | 12.49 | -9.41 | 3.36 | 7.63 | -9.57 | -10.30 | 3.93 | 7.30 | 7.73 | 8.96 |
HTBK Profitability
Margins and return-on-capital ratios measuring operating efficiency
Heritage Commerce Corp earns an operating margin of 25.4%, above the Financial Services sector average of 21.6%. Operating margins have compressed from 37.2% to 25.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 6.8% is modest, trailing the sector median of 9.4%. ROIC of 6.9% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.6% | 72.6% | 67.7% | 78.7% | 95.1% | 97.5% | 86.4% | 92.4% | 89.1% | 95.3% | 95.8% |
| Operating Margin | 25.4% | 25.4% | 22.5% | 37.2% | 47.4% | 40.4% | 30.6% | 36.8% | 34.9% | 43.2% | 41.5% |
| Net Profit Margin | 18.0% | 18.0% | 16.1% | 26.5% | 33.5% | 29.3% | 22.0% | 26.5% | 25.3% | 20.4% | 25.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | 5.9% | 9.9% | 10.8% | 8.1% | 6.1% | 8.6% | 11.1% | 9.0% | 10.8% |
| ROA | 0.8% | 0.8% | 0.7% | 1.2% | 1.2% | 0.9% | 0.8% | 1.1% | 1.2% | 0.9% | 1.1% |
| ROIC | 6.9% | 6.9% | 5.9% | 9.8% | 10.8% | 7.9% | 6.0% | 8.3% | 10.2% | 13.2% | 13.0% |
| ROCE | 3.1% | 3.1% | 6.9% | 12.2% | 14.4% | 10.5% | 8.0% | 11.0% | 13.6% | 17.6% | 17.4% |
HTBK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Heritage Commerce Corp carries a Debt/EBITDA ratio of 0.6x, which is very conservative (87% below the sector average of 4.1x). Net debt stands at $18M ($40M total debt minus $22M cash). Interest coverage of just 0.9x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.11 | 0.14 | — |
| Debt / EBITDA | 0.56 | 0.56 | 0.66 | 0.42 | 0.40 | 0.57 | 0.74 | 0.67 | 0.77 | 0.75 | — |
| Net Debt / Equity | — | 0.03 | -1.35 | -0.55 | -0.42 | -2.12 | -1.89 | -0.72 | -0.34 | -1.02 | -1.02 |
| Net Debt / EBITDA | 0.25 | 0.25 | -15.42 | -3.92 | -2.72 | -18.11 | -20.30 | -6.97 | -2.44 | -5.28 | -5.75 |
| Debt / FCF | — | 0.30 | -24.86 | -5.17 | -3.87 | -22.37 | -20.16 | -8.33 | -2.59 | -6.81 | -10.47 |
| Interest Coverage | 0.95 | 0.95 | 0.72 | 1.77 | 10.55 | 9.24 | 5.72 | 5.19 | 6.22 | 9.34 | 13.69 |
HTBK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.27x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.19x to 0.27x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.27 | 0.27 | 0.25 | 0.19 | 0.20 | 0.31 | 0.36 | 0.27 | 0.25 | 0.29 | 0.27 |
| Quick Ratio | 0.27 | 0.27 | 0.25 | 0.19 | 0.20 | 0.31 | 0.36 | 0.27 | 0.25 | 0.29 | 0.27 |
| Cash Ratio | 0.01 | 0.01 | 0.20 | 0.09 | 0.07 | 0.27 | 0.28 | 0.13 | 0.06 | 0.12 | 0.12 |
| Asset Turnover | — | 0.05 | 0.04 | 0.05 | 0.04 | 0.03 | 0.03 | 0.04 | 0.05 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HTBK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Heritage Commerce Corp returns 4.3% to shareholders annually — split between a 3.8% dividend yield and 0.5% buyback yield. A payout ratio of 66.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 5.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.8% | 4.3% | 5.5% | 5.2% | 4.0% | 4.3% | 5.8% | 3.7% | 3.9% | 2.6% | 2.8% |
| Payout Ratio | 66.7% | 66.7% | 78.6% | 49.3% | 47.3% | 65.6% | 88.0% | 56.2% | 52.3% | 63.9% | 49.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.8% | 6.5% | 7.0% | 10.6% | 8.4% | 6.6% | 6.7% | 6.5% | 7.4% | 4.0% | 5.0% |
| FCF Yield | 7.3% | 8.2% | 6.5% | 11.7% | 8.7% | 7.8% | 10.1% | 8.2% | 10.1% | 6.9% | 5.1% |
| Buyback Yield | 0.5% | 0.5% | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 30.2% | 16.3% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.3% | 4.9% | 5.5% | 5.2% | 4.2% | 4.3% | 5.8% | 33.9% | 20.2% | 2.6% | 2.8% |
| Shares Outstanding | — | $62M | $62M | $61M | $61M | $61M | $60M | $48M | $42M | $39M | $34M |
Peer Comparison
Compare HTBK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HTBKYou | $828M | 17.2 | 11.9 | 13.6 | 72.6% | 25.4% | 6.8% | 6.9% | 0.6 |
 WAFD | $3B | 13.6 | 13.0 | 13.1 | 50.9% | 20.5% | 7.5% | 3.9% | 6.1 |
 CVBF | $3B | 13.5 | 13.0 | 12.8 | 79.9% | 43.8% | 9.3% | 6.8% | 3.5 |
 BANR | $2B | 11.6 | 9.5 | 9.0 | 79.0% | 29.5% | 10.5% | 7.7% | 1.5 |
 COLB | $7B | 12.9 | 11.8 | 10.0 | 67.7% | 23.4% | 8.5% | 5.4% | 4.5 |
 HAFC | $908M | 12.1 | 8.6 | 4.5 | 57.5% | 24.3% | 10.0% | 7.4% | 2.5 |
 BSVN | $416M | 9.8 | 2.9 | 9.0 | 70.2% | 41.4% | 18.6% | 18.3% | — |
 EWBC | $17B | 12.8 | 9.5 | 11.2 | 60.1% | 37.4% | 15.9% | 11.2% | 1.6 |
 PFBC | $1B | 9.1 | 3.9 | 6.9 | 55.0% | 38.0% | 17.2% | 13.5% | 2.0 |
 BCAL | $613M | 9.9 | 7.2 | 10.8 | 79.4% | 37.8% | 11.6% | 10.6% | 0.8 |
 NBTB | $2B | 13.5 | 10.4 | 10.7 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 29 years · Updated daily
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Start ComparisonHTBK — Frequently Asked Questions
Quick answers to the most common questions about buying HTBK stock.
What is Heritage Commerce Corp's P/E ratio?
Heritage Commerce Corp's current P/E ratio is 17.2x. The historical average is 22.8x. This places it at the 46th percentile of its historical range.
What is Heritage Commerce Corp's EV/EBITDA?
Heritage Commerce Corp's current EV/EBITDA is 11.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.3x.
What is Heritage Commerce Corp's ROE?
Heritage Commerce Corp's return on equity (ROE) is 6.8%. The historical average is 6.7%.
Is HTBK stock overvalued?
Based on historical data, Heritage Commerce Corp is trading at a P/E of 17.2x. This is at the 46th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Heritage Commerce Corp's dividend yield?
Heritage Commerce Corp's current dividend yield is 3.85% with a payout ratio of 66.7%.
What are Heritage Commerce Corp's profit margins?
Heritage Commerce Corp has 72.6% gross margin and 25.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Heritage Commerce Corp have?
Heritage Commerce Corp's Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.