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Heartland Financial USA (HTLF)
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Heartland Financial USA Financial Ratios 2023-2008 | HTLF
Brief overview of Heartland Financial USA's market valuation
The review covers five available annual periods spanning 2018 to 2022.
The current valuation set is P/E 34.95x (median 11.58x), P/B 0.74x (median 0.98x), P/CF 5.1x (median 6.56x). The combined multiple level is about 22.3% below the company's historical norm, suggesting more cautious expectations.
At the current P/E, inverse earnings yield is 2.9%, a useful bridge between price and business earnings.
Returns on assets and capital are represented by ROE -3.6%, ROA -0.4%. The business is not generating positive returns on invested resources. Valuation should be read cautiously until earnings recover.
On PEG (1.65x), valuation is stretched relative to growth and requires strong execution.
Banks and insurers require sector-specific reading: the value and return on capital matter more than standard industrial multiples.
Overall assessment
Heartland Financial USA's valuation is lower, but weak quality metrics call for caution. Recovery in earnings and capital returns is the key catalyst.
Annual Financial Ratios Heartland Financial USA
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -20.3 | 34.9 | 9.7 | 10.8 | 11.6 | 11.8 | 18.9 | 13.6 | 9.9 | 10.8 | 12.0 | 7.6 | 7.7 | - | - | - | |
P/S |
14.6 | 22.6 | 24.4 | 20.9 | 22.9 | 19.3 | 24.1 | 21.8 | 1.7 | 1.6 | 1.8 | 1.5 | 1.1 | - | - | - |
EPS |
-1.7 | 1.4 | 5.0 | 3.6 | 4.1 | 3.5 | 2.7 | 3.3 | 2.9 | 2.2 | 2.1 | 2.8 | 1.2 | 1.1 | 0.1 | - |
EV (Enterprise Value) |
18.6 B | 20.3 B | 18.8 B | 17 B | 13 B | 11.2 B | 10 B | 8.44 B | 7.37 B | 5.93 B | 5.8 B | 4.8 B | 4.04 B | 3.61 B | -182 M | -51.3 M |
EBITDA per Share |
0.48 | 0.57 | 0.64 | 0.73 | 0.86 | 0.93 | 1.07 | 1.25 | 1.16 | 0.96 | 1 | 0.86 | 0.68 | 0.51 | - | - |
EV/EBITDA |
911.7 | 827.9 | 698.9 | 622.0 | 421.5 | 363.4 | 333.2 | 274.5 | 306.4 | 334.3 | 336.5 | 339.2 | 361.1 | 430.9 | -20.2 | - |
PEG |
1.65 | -2.96 | -0.78 | -1.27 | -9.02 | -20.38 | 3.57 | 1.01 | 0.53 | 0.85 | -0.45 | 0.01 | -0.13 | - | - | - |
P/B |
0.7 | 1.2 | 1.0 | 0.7 | 1.1 | 1.0 | 1.4 | 1.5 | 0.9 | 0.9 | 1.0 | 0.9 | 0.6 | - | - | - |
P/CF |
5.1 | 5.5 | 6.6 | 7.8 | 10.7 | 5.7 | 9.1 | 7.4 | 5.8 | 5.6 | 3.3 | 7.8 | 3.7 | - | - | - |
ROE % |
-3.64 | 3.50 | 10.08 | 6.63 | 9.45 | 8.83 | 7.59 | 10.84 | 9.05 | 8.44 | 8.37 | 12.39 | 8.01 | 7.26 | 2.02 | - |
ROA % |
-0.36 | 0.30 | 1.14 | 0.77 | 1.13 | 1.03 | 0.77 | 0.97 | 0.78 | 0.69 | 0.62 | 1.00 | 0.65 | 0.60 | - | - |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | - | - |
DPO |
385.3 | 301.0 | 300.8 | 317.9 | 188.4 | 131.5 | 134.6 | 147.7 | 164.8 | 169.2 | 286.5 | 389.9 | 324.7 | 101.4 | - | - |
Cash Conversion Cycle |
-385.3 | -301.0 | -300.8 | -317.9 | -188.4 | -131.5 | -134.6 | -147.8 | -164.8 | -169.2 | -286.5 | -389.9 | -324.7 | -101.4 | - | - |
Annual performance
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All numbers in USD currency
Quarterly Financial Ratios Heartland Financial USA
| 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
1.45 | 0.88 | 1.16 | 1.08 | 1.11 | 1.19 | - | 1.28 | 1.17 | 0.97 | 1.12 | 1.27 | 1.41 | 1.2 | 0.98 | 1.23 | 1.2 | 0.54 | 1.03 | 0.94 | 1.26 | 0.91 | 0.93 | 0.98 | 0.85 | 0.76 | 0.46 | 0.73 | 0.82 | 0.68 | 0.75 | 0.82 | 0.85 | 0.84 | 0.68 | 0.7 | 0.73 | 0.77 | 0.65 | 0.64 | 0.57 | 0.36 | 0.43 | 0.39 | 0.55 | 0.72 | 0.54 | 0.77 | 0.79 | 0.72 | 0.32 | 0.21 | 0.54 | 0.18 |
EBITDA per Share |
0.31 | 0.21 | 0.11 | 0.36 | 0.25 | 0.13 | - | 0.44 | 0.31 | 0.16 | - | 0.48 | 0.32 | 0.16 | - | 0.56 | 0.16 | 0.19 | - | 0.64 | 0.46 | 0.24 | - | 0.66 | 0.44 | 0.22 | - | 0.77 | 0.55 | 0.27 | - | 0.93 | 0.61 | 0.33 | - | 0.79 | 0.54 | 0.28 | - | 0.71 | 0.46 | 0.22 | - | 0.74 | 0.27 | 0.14 | - | 0.33 | 0.21 | 0.11 | - | 0.35 | 0.24 | 0.12 |
ROE % |
10.20 | 9.87 | 10.79 | 11.59 | 11.88 | 11.46 | 8.57 | 10.84 | 10.00 | 9.93 | 10.27 | 9.91 | 9.64 | 9.36 | 8.08 | 8.56 | 8.47 | 8.87 | 9.88 | 9.90 | 10.32 | 9.57 | 9.49 | 8.44 | 8.02 | 8.52 | 8.61 | 9.82 | 10.48 | 10.81 | 11.49 | 11.11 | 10.70 | 10.27 | 10.05 | 10.32 | 10.33 | 10.00 | 8.73 | 8.07 | 7.31 | 7.45 | 8.99 | 9.53 | 11.28 | 12.61 | 12.75 | 12.19 | 10.82 | 9.98 | 8.00 | 2.10 | 2.92 | 1.21 |
ROA % |
1.07 | 0.96 | 1.01 | 1.03 | 1.06 | 1.04 | 0.78 | 1.03 | 1.04 | 1.11 | 1.18 | 1.14 | 1.11 | 1.07 | 0.93 | 0.99 | 1.00 | 1.08 | 1.21 | 1.21 | 1.23 | 1.10 | 1.06 | 0.91 | 0.84 | 0.86 | 0.84 | 0.94 | 0.96 | 0.95 | 0.98 | 0.93 | 0.90 | 0.87 | 0.87 | 0.88 | 0.87 | 0.83 | 0.71 | 0.64 | 0.57 | 0.59 | 0.72 | 0.78 | 0.93 | 1.06 | 1.06 | 1.01 | 0.89 | 0.81 | 0.65 | 0.17 | 0.24 | 0.10 |
Current Ratio |
1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | - | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 |
DPO |
349.9 | 318.7 | 479.0 | 530.5 | 362.1 | 152.2 | - | 313.0 | 243.1 | 223.5 | - | 253.1 | 247.8 | 280.7 | - | 325.2 | 238.1 | 272.1 | - | 263.7 | 215.4 | 158.2 | - | 138.9 | 111.4 | 110.7 | - | 118.1 | 113.1 | 128.2 | - | 173.4 | 159.4 | 149.9 | - | 142.6 | 121.2 | 141.2 | - | 124.7 | 119.2 | 132.9 | - | 146.3 | 236.2 | 355.2 | - | 275.3 | 390.9 | 429.4 | - | 510.1 | 517.6 | - |
Cash Conversion Cycle |
-349.9 | -318.7 | -479.0 | -530.5 | -362.1 | -152.2 | - | -175.8 | -108.8 | -223.5 | - | -253.1 | -247.8 | -280.7 | - | -401.5 | -358.2 | -272.1 | - | -254.1 | -78.2 | -187.6 | - | -142.7 | -140.4 | -131.8 | - | -126.5 | -139.1 | -138.1 | - | -142.8 | -138.6 | -144.8 | - | -169.2 | -170.0 | -162.1 | - | -167.3 | -172.3 | -170.0 | - | -186.3 | -182.1 | -284.7 | - | -427.2 | -455.5 | -429.4 | - | -510.1 | -517.6 | - |
Quarterly performance
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All numbers in USD currency
Multiples are an important financial analysis tool for the company Heartland Financial USA, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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