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Financials · HFWA

Heritage Financial Corporation (HFWA) financials

For the twelve months ended Sep 30, 2026, Heritage Financial Corporation reported $314.90M of revenue and $77.45M of net income.

Revenue, TTM
$314.90M
Revenue growth, YoY
+33.0%
Net income, TTM
$77.45M
Net income growth, YoY
+35.3%
Net margin
24.6%
Free cash flow, TTM
$84.42M
EPS, diluted, TTM
$2.01
EPS growth, YoY
+21.8%
Cash
$187.07M
P/E
15.00
P/S
3.69
Market cap
$1.16B
Annual revenue$246.14M
FY2016FY2025
Annual net income$67.53M
FY2016FY2025
Annual free cash flow$85.66M
FY2016FY2025

HFWA revenue and earnings growth

HFWA revenueQ3 2026$86.51M

Quarter YoY
+31.7%
QoQ
+2.8%
FY YoY
+13.5%
5Y CAGR
+0.7%
10Y CAGR
+4.3%

HFWA revenue was $86.51M in fiscal Q3 2026 (ended Sep 30, 2026), up 31.7% from a year earlier and up 2.8% from the prior quarter. For the full fiscal 2025 it was $246.14M, up 13.5% from fiscal 2024. Compound annual growth was +0.7% over 5 years and +4.3% over 10 years. It rose in 8 of the last 10 fiscal years.

HFWA net incomeQ3 2026$18.72M

Quarter YoY
-2.3%
QoQ
+6.7%
FY YoY
+56.1%
5Y CAGR
+7.7%
10Y CAGR
+6.1%

HFWA net income was $18.72M in fiscal Q3 2026 (ended Sep 30, 2026), down 2.3% from a year earlier and up 6.7% from the prior quarter. For the full fiscal 2025 it was $67.53M, up 56.1% from fiscal 2024. Compound annual growth was +7.7% over 5 years and +6.1% over 10 years. It rose in 6 of the last 10 fiscal years.

HFWA EPSQ3 2026$0.46

Quarter YoY
-16.4%
QoQ
+9.5%
FY YoY
+58.1%
5Y CAGR
+8.7%
10Y CAGR
+4.6%

HFWA diluted EPS was $0.46 in fiscal Q3 2026 (ended Sep 30, 2026), down 16.4% from a year earlier and up 9.5% from the prior quarter. For the full fiscal 2025 it was $1.96, up 58.1% from fiscal 2024. Compound annual growth was +8.7% over 5 years and +4.6% over 10 years.

HFWA free cash flowQ3 2026$28.38M

Quarter YoY
+16.4%
QoQ
+34.5%
FY YoY
+40.4%
5Y CAGR
+6.2%
10Y CAGR
+5.6%

HFWA free cash flow was $28.38M in fiscal Q3 2026 (ended Sep 30, 2026), up 16.4% from a year earlier and up 34.5% from the prior quarter. For the full fiscal 2025 it was $85.66M, up 40.4% from fiscal 2024. Compound annual growth was +6.2% over 5 years and +5.6% over 10 years. It rose in 6 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$246.14M$216.84M$243.82M$248.98M$240.40M$238.23M$232.14M$218.61M$174.94M$164.13M
Interest expense--$59.31M$8.07M$7.04M$13.32M$18.17M$12.41M$8.35M$6.01M
Pre-tax income$78.60M$52.26M$72.92M$99.44M$120.51M$53.18M$81.05M$64.30M$60.15M$52.72M
Income tax$11.07M$9.00M$11.16M$17.56M$22.47M$6.61M$13.49M$11.24M$18.36M$13.80M
Net income$67.53M$43.26M$61.76M$81.88M$98.03M$46.57M$67.56M$53.06M$41.79M$38.92M
EPS, basic$1.99$1.26$1.76$2.33$2.75$1.29$1.84$1.49$1.39$1.30
EPS, diluted$1.96$1.24$1.75$2.31$2.73$1.29$1.83$1.49$1.39$1.30
Diluted shares34.5M34.9M35.3M35.5M36.0M36.2M37.0M35.4M29.8M29.7M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$233.09M$117.10M$224.97M$103.59M$1.72B$743.32M$228.57M$161.91M$103.02M$103.75M
Goodwill$240.94M$240.94M$240.94M$240.94M$240.94M$240.94M$240.94M$240.94M$119.03M$119.03M
Total assets$6.97B$7.11B$7.17B$6.98B$7.43B$6.62B$5.55B$5.32B$4.11B$3.88B
Total liabilities$6.05B$6.24B$6.32B$6.18B$6.58B$5.79B$4.74B$4.56B$3.60B$3.40B
Shareholders' equity$921.50M$863.53M$853.26M$797.89M$854.43M$820.44M$809.31M$760.72M$508.31M$481.76M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$94.82M$64.48M$109.52M$94.46M$69.53M$70.33M$92.49M$90.41M$73.51M$53.98M
Capital expenditures$9.16M$3.46M$10.38M$4.02M$3.02M$7.00M$13.04M$23.27M$3.06M$6.72M
Free cash flow$85.66M$61.02M$99.15M$90.44M$66.51M$63.33M$79.45M$67.15M$70.45M$47.26M
Investing cash flow$186.75M-$85.90M-$93.45M-$1.21B$163.76M-$538.55M-$125.30M-$109.60M-$241.39M-$252.93M
Financing cash flow-$165.58M-$86.45M$105.31M-$506.38M$746.68M$982.97M$99.47M$78.08M$167.15M$176.05M
Dividends paid$32.65M$31.78M$30.82M$29.49M$28.94M$28.86M$30.91M$25.79M$18.30M$21.57M
Share repurchases$5.52M$22.42M$6.97M$3.20M$22.89M$19.12M$8.64M$1.70M$737.0K$2.89M
Stock-based compensation---------$0
Depreciation and amortization$956.0K$1.59M$3.17M$341.0K-$21.74M-$3.61M$14.11M$17.62M$10.70M$12.71M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY13.5%-11.1%-2.1%3.6%0.9%2.6%6.2%25.0%6.6%1.4%
Net income growth, YoY56.1%-30.0%-24.6%-16.5%110.5%-31.1%27.3%27.0%7.4%3.8%
EPS growth, YoY58.1%-29.1%-24.2%-15.4%111.6%-29.5%22.8%7.2%6.9%4.0%
Net margin27.4%19.9%25.3%32.9%40.8%19.5%29.1%24.3%23.9%23.7%
Free cash flow margin34.8%28.1%40.7%36.3%27.7%26.6%34.2%30.7%40.3%28.8%
Return on equity7.3%5.0%7.2%10.3%11.5%5.7%8.3%7.0%8.2%8.1%
Return on assets1.0%0.6%0.9%1.2%1.3%0.7%1.2%1.0%1.0%1.0%

Source: XBRL data Heritage Financial Corporation files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

HFWA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
HFWA$314.90M+33.0%$77.45M24.6%$1.16B
FLG$2.10B-1.4%$96.00M4.6%$4.36B
BBT$887.69M+93.0%$159.79M18.0%$2.56B
NBBK$283.44M+43.2%$66.95M23.6%$968.0M
SMBC$204.74M+9.0%$75.29M36.8%$776.0M
TCBX$248.00M+24.8%$75.26M30.3%$646.4M
GCBC$95.87M+19.9%$44.65M46.6%$615.0M
HBCP$156.11M+7.0%$44.48M28.5%$474.1M

HFWA FAQ

8 questions
  • What is HFWA revenue?
    Heritage Financial Corporation (HFWA) reported $314.90M of revenue for the twelve months ended Sep 30, 2026. That is up 33.0% from the year before. Revenue for fiscal 2025 was $246.14M.
  • Is HFWA profitable?
    Yes. Heritage Financial Corporation earned $77.45M in net income for the twelve months ended Sep 30, 2026, a net margin of 24.6%.
  • How much cash and debt does HFWA have?
    Heritage Financial Corporation reported $187.07M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is HFWA revenue growing?
    Heritage Financial Corporation's revenue changed +13.5% in fiscal 2025, to $246.14M. Its compound annual growth rate was +0.7% over 5 years and +4.3% over 10 years.
  • What is HFWA free cash flow?
    Heritage Financial Corporation generated $84.42M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $95.49M less capital expenditures.
  • What is HFWA earnings per share?
    Diluted earnings per share were $2.01 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did HFWA last report financial results?
    The latest statements here come from Heritage Financial Corporation's 10-Q filed on Nov 6, 2026, covering the period ended Sep 30, 2026.
  • Where does this HFWA financial data come from?
    Quantisnow builds these statements from the structured XBRL data Heritage Financial Corporation files with the SEC. It is provided for information only and is not investment advice.