Hawthorn Bancshares, Inc. (HWBK) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
9.89
↓-62% vs avg
5yr avg: 26.01
30Y Low0.2·High95.7
P/FCF
↑
11.37
↑+26% vs avg
5yr avg: 9.02
30Y Low1.6·High28.7
P/B Ratio
↑
1.51
+19% vs avg
5yr avg: 1.27
30Y Low0.2·High1.7
ROE
↓
14.7%
↓+24% vs avg
5yr avg: 11.9%
30Y Low-28%·High16%
Debt/EBITDA
↓
4.96
↓-70% vs avg
5yr avg: 16.66
30Y Low0.2·High17.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HWBK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Hawthorn Bancshares, Inc. trades at 11.0x earnings, 75% below its 5-year average of 43.4x, sitting at the 43rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.9x, the stock trades at a discount of 21%. On a free-cash-flow basis, the stock trades at 11.4x P/FCF, 26% above the 5-year average of 9.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $260M | $244M | $198M | $179M | $148M | $172M | $142M | $160M | $127M | $121M | $100M |
| Enterprise Value | $310M | $294M | $279M | $243M | $215M | $166M | $317M | $303M | $260M | $293M | $247M |
| P/E Ratio → | 10.99 | 10.17 | 10.86 | 181.21 | 7.12 | 7.61 | 9.93 | 9.95 | 11.84 | 35.65 | 13.72 |
| P/S Ratio | 2.32 | 2.18 | 1.81 | 2.03 | 1.78 | 2.11 | 1.82 | 2.19 | 1.88 | 2.02 | 1.82 |
| P/B Ratio | 1.51 | 1.40 | 1.33 | 1.31 | 1.16 | 1.15 | 1.09 | 1.39 | 1.28 | 1.32 | 1.10 |
| P/FCF | 11.37 | 10.69 | 8.79 | 11.51 | 8.35 | 5.79 | 7.39 | 9.30 | 9.08 | 10.79 | 8.13 |
| P/OCF | 9.65 | 9.07 | 7.75 | 10.14 | 7.29 | 5.68 | 6.75 | 8.26 | 7.78 | 9.70 | 7.37 |
P/E links to full P/E history page with 30-year chart
HWBK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Hawthorn Bancshares, Inc.'s enterprise value stands at 9.9x EBITDA, 62% below its 5-year average of 26.0x. The Financial Services sector median is 11.5x, placing the stock at a 14% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.63 | 2.55 | 2.76 | 2.59 | 2.04 | 4.06 | 4.15 | 3.86 | 4.89 | 4.50 |
| EV / EBITDA | 9.89 | 9.39 | 11.63 | 95.68 | 7.91 | 5.45 | 16.04 | 13.75 | 18.35 | 22.42 | 19.28 |
| EV / EBIT | 10.65 | 10.11 | 12.49 | 562.12 | 8.59 | 5.89 | 18.12 | 15.17 | 21.02 | 25.86 | 22.39 |
| EV / FCF | — | 12.88 | 12.36 | 15.65 | 12.16 | 5.61 | 16.50 | 17.58 | 18.62 | 26.10 | 20.14 |
HWBK Profitability
Margins and return-on-capital ratios measuring operating efficiency
Hawthorn Bancshares, Inc. earns an operating margin of 26.0%, above the Financial Services sector average of 20.2%. Operating margins have expanded from 0.5% to 26.0% over the past 3 years, signaling improving operational efficiency. ROE of 14.7% is modest. ROIC of 7.1% represents adequate returns on invested capital versus a sector median of 5.4%.
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 | 71.3% | 71.3% | 65.5% | 60.0% | 88.5% | 94.8% | 80.1% | 77.5% | 78.2% | 83.7% | 87.1% |
| Operating Margin | 26.0% | 26.0% | 20.4% | 0.5% | 30.1% | 34.7% | 22.4% | 27.3% | 18.4% | 18.9% | 20.1% |
| Net Profit Margin | 21.2% | 21.2% | 16.6% | 1.1% | 24.9% | 27.7% | 18.3% | 22.1% | 15.9% | 5.7% | 13.3% |
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 | 14.7% | 14.7% | 12.8% | 0.7% | 15.0% | 16.1% | 11.6% | 15.0% | 11.2% | 3.7% | 8.2% |
| ROA | 1.3% | 1.3% | 1.0% | 0.1% | 1.1% | 1.3% | 0.9% | 1.1% | 0.7% | 0.3% | 0.6% |
| ROIC | 7.1% | 7.1% | 5.8% | 0.1% | 6.5% | 6.7% | 4.2% | 5.3% | 3.3% | 3.1% | 3.3% |
| ROCE | 9.2% | 9.2% | 7.5% | 0.1% | 8.7% | 9.5% | 6.0% | 7.4% | 4.6% | 4.4% | 5.0% |
HWBK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Hawthorn Bancshares, Inc. carries a Debt/EBITDA ratio of 5.0x, which is highly leveraged (16% above the sector average of 4.3x). Net debt stands at $50M ($155M total debt minus $105M 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 | 0.89 | 0.89 | 0.89 | 1.16 | 1.21 | 1.02 | 1.56 | 1.53 | 1.70 | 2.17 | 1.91 |
| Debt / EBITDA | 4.96 | 4.96 | 5.53 | 62.14 | 5.66 | 5.00 | 10.31 | 8.00 | 11.94 | 15.20 | 13.57 |
| Net Debt / Equity | — | 0.29 | 0.54 | 0.47 | 0.53 | -0.04 | 1.34 | 1.24 | 1.34 | 1.88 | 1.62 |
| Net Debt / EBITDA | 1.60 | 1.60 | 3.36 | 25.31 | 2.48 | -0.18 | 8.86 | 6.48 | 9.40 | 13.15 | 11.50 |
| Debt / FCF | — | 2.20 | 3.57 | 4.14 | 3.82 | -0.18 | 9.11 | 8.28 | 9.54 | 15.31 | 12.01 |
| Interest Coverage | 0.92 | 0.92 | 0.61 | 0.01 | 2.39 | 4.77 | 1.80 | 1.31 | 0.94 | 1.41 | 1.95 |
HWBK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.11x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.18x to 0.11x 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 | 0.11 | 0.11 | 0.18 | 0.18 | 0.21 | 0.31 | 0.16 | 0.18 | 0.21 | 0.23 | 0.24 |
| Quick Ratio | 0.11 | 0.11 | 0.18 | 0.18 | 0.21 | 0.31 | 0.16 | 0.18 | 0.21 | 0.23 | 0.24 |
| Cash Ratio | 0.07 | 0.07 | 0.03 | 0.06 | 0.05 | 0.10 | 0.02 | 0.03 | 0.03 | 0.02 | 0.03 |
| Asset Turnover | — | 0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HWBK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Hawthorn Bancshares, Inc. returns 3.2% to shareholders annually — split between a 2.1% dividend yield and 1.1% buyback yield. The payout ratio of 22.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 9.1% (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 | 2.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 22.8% | 22.8% | 27.6% | 486.3% | 20.4% | 16.1% | 21.2% | 16.7% | 18.6% | 43.2% | 15.1% |
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 | 9.1% | 9.8% | 9.2% | 0.6% | 14.0% | 13.1% | 10.1% | 10.0% | 8.4% | 2.8% | 7.3% |
| FCF Yield | 8.8% | 9.4% | 11.4% | 8.7% | 12.0% | 17.3% | 13.5% | 10.8% | 11.0% | 9.3% | 12.3% |
| Buyback Yield | 1.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.2% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M |
Peer Comparison
Compare HWBK 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 |
|---|---|---|---|---|---|---|---|---|---|
 HWBKYou | $260M | 11.0 | 9.9 | 11.4 | 71.3% | 26.0% | 14.7% | 7.1% | 5.0 |
 CZWI | $207M | 14.7 | 15.7 | 19.9 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 BFST | $956M | 10.5 | 9.2 | 10.4 | 60.9% | 22.2% | 10.4% | 6.2% | 4.6 |
 MOFG | $1B | -13.9 | — | 16.7 | 29.4% | -40.8% | -11.1% | -9.4% | — |
 QCRH | $2B | 12.8 | 15.9 | 4.6 | 57.7% | 22.8% | 12.1% | 6.2% | 4.5 |
 SBCF | $3B | 20.3 | 23.0 | 17.5 | 61.6% | 21.4% | 5.5% | 3.9% | 7.2 |
 FBIZ | $506M | 10.0 | 12.1 | 8.3 | 57.3% | 21.6% | 14.4% | 7.0% | 4.3 |
 GABC | $2B | 15.0 | 13.1 | 11.2 | 70.2% | 28.7% | 12.0% | 9.3% | 1.3 |
 MVBF | $365M | 13.8 | 5.4 | 172.8 | 71.7% | 13.6% | 8.4% | 7.0% | 2.1 |
 CHMG | $349M | 23.2 | 14.6 | 7.9 | 64.2% | 14.2% | 6.4% | 5.0% | 0.2 |
 FIS | $20B | 52.3 | 6.5 | 7.2 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
| Financial Services Median | — | 13.9 | 11.5 | 11.2 | 64.1% | 20.2% | 9.0% | 5.4% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
What if you invested $1,000 in HWBK 10 years ago?
Total return calculator · dividends reinvested
Calculate ReturnsHow much would $100/month in HWBK be worth today?
Dollar cost averaging vs lump sum · see how regular investing compounds over time
Run the NumbersIs HWBK Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationHWBK vs CZWI — which is the better buy?
Side-by-side revenue, margins, P/E and 10-year returns vs Citizens Community Bancorp, Inc..
Compare NowHWBK — Frequently Asked Questions
Quick answers to the most common questions about buying HWBK stock.
What is Hawthorn Bancshares, Inc.'s P/E ratio?
Hawthorn Bancshares, Inc.'s current P/E ratio is 11.0x. The historical average is 18.7x. This places it at the 43th percentile of its historical range.
What is Hawthorn Bancshares, Inc.'s EV/EBITDA?
Hawthorn Bancshares, Inc.'s current EV/EBITDA is 9.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.9x.
What is Hawthorn Bancshares, Inc.'s ROE?
Hawthorn Bancshares, Inc.'s return on equity (ROE) is 14.7%. The historical average is 7.6%.
Is HWBK stock overvalued?
Based on historical data, Hawthorn Bancshares, Inc. is trading at a P/E of 11.0x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Hawthorn Bancshares, Inc.'s dividend yield?
Hawthorn Bancshares, Inc.'s current dividend yield is 2.06% with a payout ratio of 22.8%.
What are Hawthorn Bancshares, Inc.'s profit margins?
Hawthorn Bancshares, Inc. has 71.3% gross margin and 26.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Hawthorn Bancshares, Inc. have?
Hawthorn Bancshares, Inc.'s Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.