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Intrinsic value of Heritage Financial Corporation (HFWA)

Previous Close$25.78
Intrinsic Value
Upside potential
Previous Close
$25.78
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh14.97 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business loans, lines of credit, term equipment financing, and term real estate loans, as well as commercial business loans focuses on real estate related industries and businesses in agricultural, healthcare, legal, and other professions. The company also originates loans that are guaranteed by the U.S. Small Business Administration; and offers trust services through trust powers, as well as objective advice. As of June 30, 2020, the company had a network of 62 branches located in Washington and Oregon. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1927 and is headquartered in Olympia, Washington.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %1.0NaN
Revenue, $240NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m120NaN
Operating income, $m121NaN
EBITDA, $m102NaN
Interest expense (income), $mNaN
Earnings before tax, $m121NaN
Tax expense, $m22NaN
Net income, $m98NaN

BALANCE SHEET

Cash and short-term investments, $m1723NaN
Total assets, $m7432NaN
Adjusted assets (=assets-cash), $m5709NaN
Average production assets, $m358NaN
Working capital, $m-1044NaN
Total debt, $m101NaN
Total liabilities, $m6578NaN
Total equity, $m854NaN
Debt-to-equity ratio0.118NaN
Adjusted equity ratio-0.142NaN

CASH FLOW

Net income, $m98NaN
Depreciation, amort., depletion, $m-19NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m62NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-3NaN
Free cash flow, $m65NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-1044
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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