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Horizon Bancorp (HBNC) Financials

Horizon Bancorp logo
$15.03 +0.33 (+2.24%)
Closing price 04:00 PM Eastern
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$15.03 0.00 (0.00%)
As of 04:04 PM Eastern
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Annual Income Statements for Horizon Bancorp

Annual Income Statements for Horizon Bancorp

This table shows Horizon Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders		 35 28 93
Consolidated Net Income / (Loss)		 35 28 93
Net Income / (Loss) Continuing Operations		 35 28 93
Total Pre-Tax Income 		27 39 106
Total Revenue		 192 188 247
Net Interest Income / (Expense)		 189 176 200
Total Interest Income		 356 312 236
Loans and Leases Interest Income		 291 245 174
Investment Securities Interest Income		 56 63 62
Other Interest Income		 9.68 4.97 0.31
Total Interest Expense		 168 137 37
Deposits Interest Expense		 115 86 18
Long-Term Debt Interest Expense		 53 51 19
Total Non-Interest Income		 2.97 12 47
Service Charges on Deposit Accounts		 13 12 12
Other Service Charges		 17 16 15
Net Realized & Unrealized Capital Gains on Investments		 -33 -25 12
Other Non-Interest Income		 6.69 8.79 8.62
Provision for Credit Losses		 5.39 2.46 -1.82
Total Non-Interest Expense		 159 146 143
Salaries and Employee Benefits		 88 81 80
Net Occupancy & Equipment Expense		 24 25 24
Property & Liability Insurance Claims		 5.03 3.88 2.56
Other Operating Expenses		 37 32 32
Amortization Expense		 3.40 3.61 3.70
Other Special Charges		 1.20 1.05 1.05
Income Tax Expense		 -8.08 11 12
Basic Earnings per Share		 $0.81 $0.64 $2.14
Weighted Average Basic Shares Outstanding		 44.01M 44.11M 43.58M
Diluted Earnings per Share		 $0.80 $0.64 $2.14
Weighted Average Diluted Shares Outstanding		 44.01M 44.11M 43.58M
Weighted Average Basic & Diluted Shares Outstanding		 44.01M 44.11M 43.58M
Cash Dividends to Common per Share		 $0.64 $0.64 $0.63

Quarterly Income Statements for Horizon Bancorp

This table shows Horizon Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 -11 18 14 14 -25 16 19 18 21 24
Consolidated Net Income / (Loss)		 -11 18 14 14 -25 16 19 18 21 24
Net Income / (Loss) Continuing Operations		 -11 18 14 14 -25 16 19 18 21 24
Total Pre-Tax Income 		-22 18 16 15 -19 17 20 20 24 26
Total Revenue		 24 58 56 53 22 54 57 55 59 62
Net Interest Income / (Expense)		 53 47 45 43 42 42 46 45 49 52
Total Interest Income		 93 91 87 85 84 80 77 72 67 61
Loans and Leases Interest Income		 77 75 72 67 66 63 61 55 51 46
Investment Securities Interest Income		 13 14 14 14 15 16 16 16 16 16
Other Interest Income		 3.49 0.96 0.74 4.50 3.01 1.33 0.48 0.15 0.08 0.07
Total Interest Expense		 40 44 42 42 41 38 31 27 18 9.64
Deposits Interest Expense		 28 31 28 28 27 25 19 15 11 4.12
Long-Term Debt Interest Expense		 12 13 13 14 14 13 12 12 7.89 5.52
Total Non-Interest Income		 -29 12 10 9.93 -20 12 11 9.62 11 10
Service Charges on Deposit Accounts		 3.28 3.32 3.13 3.21 3.09 3.09 3.02 3.03 2.95 3.02
Other Service Charges		 3.82 4.41 4.32 4.04 4.35 4.27 4.05 3.34 3.87 3.35
Net Realized & Unrealized Capital Gains on Investments		 -38 2.03 1.35 1.07 -30 2.21 1.67 1.00 1.83 1.80
Other Non-Interest Income		 1.65 1.74 1.69 1.61 2.01 2.26 2.26 2.26 2.02 2.02
Provision for Credit Losses		 1.17 1.04 2.37 0.81 1.27 0.26 0.68 0.24 -0.07 -0.60
Total Non-Interest Expense		 45 39 38 37 39 36 36 35 36 37
Salaries and Employee Benefits		 26 22 21 20 22 20 20 19 20 21
Net Occupancy & Equipment Expense		 6.27 6.18 5.77 6.01 6.20 6.28 6.27 6.23 6.16 5.83
Property & Liability Insurance Claims		 1.19 1.20 1.32 1.32 1.20 1.30 0.84 0.54 0.39 0.67
Other Operating Expenses		 11 8.91 8.49 8.62 8.64 7.44 7.96 7.92 8.14 8.38
Amortization Expense		 0.84 0.84 0.84 0.87 0.90 0.90 0.90 0.90 0.93 0.93
Other Special Charges		 0.37 0.30 0.52 0.02 0.51 0.19 0.13 0.22 0.12 0.40
Income Tax Expense		 -11 -0.08 1.73 1.31 6.42 1.28 1.45 1.86 2.65 2.01
Basic Earnings per Share		 ($0.25) $0.42 $0.32 $0.32 ($0.58) $0.37 $0.43 $0.42 $0.48 $0.55
Weighted Average Basic Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M
Diluted Earnings per Share		 ($0.25) $0.41 $0.32 $0.32 ($0.58) $0.37 $0.43 $0.42 $0.48 $0.55
Weighted Average Diluted Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M
Weighted Average Basic & Diluted Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M

Annual Cash Flow Statements for Horizon Bancorp

This table details how cash moves in and out of Horizon Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents		 -233 403 -470
Net Cash From Operating Activities		 6.37 89 94
Net Cash From Continuing Operating Activities		 6.37 89 94
Net Income / (Loss) Continuing Operations		 35 28 93
Consolidated Net Income / (Loss)		 35 28 93
Provision For Loan Losses		 5.39 2.46 -1.82
Depreciation Expense		 10 11 11
Amortization Expense		 10 11 14
Non-Cash Adjustments to Reconcile Net Income		 458 170 218
Changes in Operating Assets and Liabilities, net		 -513 -133 -240
Net Cash From Investing Activities		 -53 330 -1,020
Net Cash From Continuing Investing Activities		 -53 330 -1,020
Purchase of Property, Leasehold Improvements and Equipment		 -5.08 -7.78 -6.43
Purchase of Investment Securities		 -260 -144 -716
Divestitures		 0.00 0.00 0.00
Sale and/or Maturity of Investments		 429 622 151
Other Investing Activities, net		 -217 -141 -448
Net Cash From Financing Activities		 -187 -15 456
Net Cash From Continuing Financing Activities		 -187 -15 456
Net Change in Deposits		 -64 -193 55
Issuance of Debt		 513 866 1,179
Repayment of Debt		 -564 -657 -756
Repurchase of Common Equity		 0.00 0.00 0.00
Payment of Dividends		 -28 -28 -28
Other Financing Activities, Net		 -43 -3.06 5.39
Cash Interest Paid		 179 120 33
Cash Income Taxes Paid		 11 2.14 0.80

Quarterly Cash Flow Statements for Horizon Bancorp

This table details how cash moves in and out of Horizon Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 59 89 -125 -255 351 -54 94 11 14 0.81
Net Cash From Operating Activities		 -48 32 16 6.54 15 30 19 25 11 28
Net Cash From Continuing Operating Activities		 -48 32 16 6.54 15 30 19 25 11 28
Net Income / (Loss) Continuing Operations		 -11 18 14 14 -25 16 19 18 21 24
Consolidated Net Income / (Loss)		 -11 18 14 14 -25 16 19 18 21 24
Provision For Loan Losses		 1.17 1.04 2.37 0.81 1.27 0.26 0.68 0.24 -0.07 -0.60
Depreciation Expense		 2.65 2.51 2.52 2.65 3.02 2.65 2.67 2.60 3.11 2.44
Amortization Expense		 2.45 2.63 2.64 2.66 2.53 2.76 2.81 3.00 3.19 3.78
Non-Cash Adjustments to Reconcile Net Income		 366 38 31 22 63 44 38 25 23 50
Changes in Operating Assets and Liabilities, net		 -410 -31 -37 -35 -30 -36 -44 -24 -39 -52
Net Cash From Investing Activities		 270 35 -182 -175 385 -71 35 -19 -112 -94
Net Cash From Continuing Investing Activities		 270 35 -182 -175 385 -71 35 -19 -112 -94
Purchase of Property, Leasehold Improvements and Equipment		 -1.80 -1.28 -0.83 -1.18 -1.34 -1.16 -4.71 -0.57 -1.73 -1.48
Sale and/or Maturity of Investments		 315 43 25 46 447 25 64 86 25 43
Other Investing Activities, net		 -44 -6.38 -120 -47 -35 -57 -20 -28 -73 -77
Net Cash From Financing Activities		 -163 21 41 -87 -49 -12 40 5.40 115 67
Net Cash From Continuing Financing Activities		 -163 21 41 -87 -49 -12 40 5.40 115 67
Net Change in Deposits		 -126 97 50 -85 -35 -9.24 7.39 -156 27 -15
Repayment of Debt		 -0.40 -63 -100 -400 -278 -0.12 -24 -355 -68 -327
Payment of Dividends		 -7.05 -7.11 -7.09 -7.09 -7.06 -7.09 -7.11 -7.06 -7.06 -7.06
Other Financing Activities, Net		 -29 -5.84 -11 2.57 -6.48 0.36 2.70 0.37 -10 4.11
Cash Interest Paid		 40 44 38 56 35 34 24 26 15 10
Cash Income Taxes Paid		 1.21 1.51 8.00 0.00 0.58 - 1.55 0.00 -0.13 0.29

Annual Balance Sheets for Horizon Bancorp

This table presents Horizon Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets		 7,801 7,940 7,873
Cash and Due from Banks		 92 113 124
Federal Funds Sold		 0.00 0.22 -
Interest Bearing Deposits at Other Banks		 202 416 2.81
Trading Account Securities		 2,169 2,494 3,026
Loans and Leases, Net of Allowance		 4,795 4,368 4,108
Premises and Equipment, Net		 94 95 93
Goodwill		 155 155 155
Intangible Assets		 10 14 17
Other Assets		 284 286 347
Total Liabilities & Shareholders' Equity		 7,801 7,940 7,873
Total Liabilities		 7,038 7,222 7,195
Non-Interest Bearing Deposits		 1,065 1,116 1,278
Interest Bearing Deposits		 4,536 4,549 4,580
Accrued Interest Payable		 11 22 5.38
Long-Term Debt		 1,345 1,466 1,259
Other Long-Term Liabilities		 80 69 73
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 764 719 677
Total Preferred & Common Equity		 764 719 677
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 764 719 677
Common Stock		 364 356 354
Retained Earnings		 436 429 429
Accumulated Other Comprehensive Income / (Loss)		 -36 -67 -106

Quarterly Balance Sheets for Horizon Bancorp

This table presents Horizon Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 7,927 7,913 7,856 7,959 7,963 7,898 7,719
Cash and Due from Banks		 109 107 271 175 229 135 110
Federal Funds Sold		 114 34 - - - - -
Interest Bearing Deposits at Other Banks		 13 6.67 1.72 2.21 2.45 3.10 2.81
Trading Account Securities		 2,432 2,434 2,462 2,834 2,896 2,961 3,019
Loans and Leases, Net of Allowance		 4,751 4,771 4,568 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 94 94 94 95 95 92 92
Goodwill		 155 155 155 155 155 155 155
Intangible Assets		 11 12 13 15 15 16 18
Other Assets		 249 299 291 4,683 4,570 4,535 4,321
Total Liabilities & Shareholders' Equity		 7,927 7,913 7,856 7,959 7,963 7,898 7,719
Total Liabilities		 7,173 7,186 7,134 7,266 7,254 7,195 7,074
Non-Interest Bearing Deposits		 1,086 1,087 1,093 1,127 1,170 1,232 1,315
Interest Bearing Deposits		 4,641 4,543 4,487 4,573 4,539 4,470 4,516
Accrued Interest Payable		 11 11 7.85 16 13 5.92 1.96
Long-Term Debt		 1,378 1,470 1,472 1,473 1,468 1,428 1,164
Other Long-Term Liabilities		 56 74 75 77 64 60 77
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 755 727 721 693 709 703 645
Total Preferred & Common Equity		 755 727 721 693 709 703 645
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 755 727 721 693 709 703 645
Common Stock		 358 358 357 355 355 354 353
Retained Earnings		 454 443 436 461 452 441 415
Accumulated Other Comprehensive Income / (Loss)		 -58 -74 -71 -123 -98 -92 -123

Annual Metrics And Ratios for Horizon Bancorp

This table displays calculated financial ratios and metrics derived from Horizon Bancorp's official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics		 - - -
Revenue Growth		 2.04% -23.98% 5.65%
EBITDA Growth		 -21.26% -53.35% 3.33%
EBIT Growth		 -29.87% -63.06% 3.06%
NOPAT Growth		 26.62% -70.04% 7.25%
Net Income Growth		 26.62% -70.04% 7.25%
EPS Growth		 25.00% -70.09% 8.08%
Operating Cash Flow Growth		 -92.84% -5.77% -11.26%
Free Cash Flow Firm Growth		 150.37% 24.34% -60.06%
Invested Capital Growth		 -3.46% 12.83% 24.80%
Revenue Q/Q Growth		 1.25% -16.70% 1.04%
EBITDA Q/Q Growth		 -6.95% -41.53% -1.85%
EBIT Q/Q Growth		 -10.29% -52.21% -1.58%
NOPAT Q/Q Growth		 67.94% -62.37% -0.28%
Net Income Q/Q Growth		 67.94% -62.37% -0.28%
EPS Q/Q Growth		 70.21% -62.35% -0.93%
Operating Cash Flow Q/Q Growth		 -90.87% 4.17% -6.08%
Free Cash Flow Firm Q/Q Growth		 105.29% 22.06% -32.13%
Invested Capital Q/Q Growth		 -1.13% 0.86% 7.04%
Profitability Metrics		 - - -
EBITDA Margin		 25.09% 32.51% 52.97%
EBIT Margin		 14.28% 20.77% 42.75%
Profit (Net Income) Margin		 18.49% 14.90% 37.82%
Tax Burden Percent		 129.54% 71.75% 88.47%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 -29.54% 28.25% 11.53%
Return on Invested Capital (ROIC)		 1.65% 1.36% 5.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.65% 1.36% 5.36%
Return on Net Nonoperating Assets (RNNOA)		 3.13% 2.65% 7.98%
Return on Equity (ROE)		 4.78% 4.01% 13.34%
Cash Return on Invested Capital (CROIC)		 5.17% -10.70% -16.71%
Operating Return on Assets (OROA)		 0.35% 0.49% 1.38%
Return on Assets (ROA)		 0.45% 0.35% 1.22%
Return on Common Equity (ROCE)		 4.78% 4.01% 13.34%
Return on Equity Simple (ROE_SIMPLE)		 4.64% 3.89% 13.79%
Net Operating Profit after Tax (NOPAT)		 35 28 93
NOPAT Margin		 18.49% 14.90% 37.82%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 58.71% 56.35% 42.18%
Operating Expenses to Revenue		 82.91% 77.92% 57.98%
Earnings before Interest and Taxes (EBIT)		 27 39 106
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 48 61 131
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.91 0.83 0.87
Price to Tangible Book Value (P/TBV)		 1.17 1.08 1.17
Price to Revenue (P/Rev)		 3.64 3.17 2.39
Price to Earnings (P/E)		 19.68 21.27 6.32
Dividend Yield		 4.01% 4.74% 4.61%
Earnings Yield		 5.08% 4.70% 15.82%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.70 0.89
Enterprise Value to Revenue (EV/Rev)		 9.13 8.16 6.98
Enterprise Value to EBITDA (EV/EBITDA)		 36.38 25.10 13.17
Enterprise Value to EBIT (EV/EBIT)		 63.93 39.29 16.32
Enterprise Value to NOPAT (EV/NOPAT)		 49.35 54.76 18.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 274.57 17.23 18.25
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.75 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 1.76 2.04 1.86
Long-Term Debt to Equity		 1.76 2.04 1.86
Financial Leverage		 1.90 1.95 1.49
Leverage Ratio		 10.62 11.33 10.91
Compound Leverage Factor		 10.62 11.33 10.91
Debt to Total Capital		 63.80% 67.10% 65.02%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 63.80% 67.10% 65.02%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 36.21% 32.90% 34.98%
Debt to EBITDA		 28.00 24.02 9.62
Net Debt to EBITDA		 21.88 15.35 8.66
Long-Term Debt to EBITDA		 28.00 24.02 9.62
Debt to NOPAT		 37.98 52.39 13.48
Net Debt to NOPAT		 29.67 33.49 12.12
Long-Term Debt to NOPAT		 37.98 52.39 13.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 111 -220 -291
Operating Cash Flow to CapEx		 125.26% 1,143.87% 1,468.04%
Free Cash Flow to Firm to Interest Expense		 0.66 -1.61 -7.98
Operating Cash Flow to Interest Expense		 0.04 0.65 2.58
Operating Cash Flow Less CapEx to Interest Expense		 0.01 0.59 2.41
Efficiency Ratios		 - - -
Asset Turnover		 0.02 0.02 0.03
Fixed Asset Turnover		 2.03 2.01 2.65
Capital & Investment Metrics		 - - -
Invested Capital		 2,109 2,185 1,936
Invested Capital Turnover		 0.09 0.09 0.14
Increase / (Decrease) in Invested Capital		 -76 248 385
Enterprise Value (EV)		 1,748 1,532 1,723
Market Capitalization		 697 595 590
Book Value per Share		 $17.47 $16.29 $15.42
Tangible Book Value per Share		 $13.68 $12.47 $11.49
Total Capital		 2,109 2,185 1,936
Total Debt		 1,345 1,466 1,259
Total Long-Term Debt		 1,345 1,466 1,259
Net Debt		 1,051 937 1,133
Capital Expenditures (CapEx)		 5.08 7.78 6.43
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 1,345 1,466 1,259
Total Depreciation and Amortization (D&A)		 21 22 25
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.81 $0.64 $2.14
Adjusted Weighted Average Basic Shares Outstanding		 44.01M 44.11M 43.58M
Adjusted Diluted Earnings per Share		 $0.80 $0.64 $2.14
Adjusted Weighted Average Diluted Shares Outstanding		 44.01M 44.11M 43.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 44.01M 44.11M 43.58M
Normalized Net Operating Profit after Tax (NOPAT)		 20 29 94
Normalized NOPAT Margin		 10.43% 15.31% 38.20%
Pre Tax Income Margin		 14.28% 20.77% 42.75%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.16 0.29 2.89
NOPAT to Interest Expense		 0.21 0.20 2.56
EBIT Less CapEx to Interest Expense		 0.13 0.23 2.72
NOPAT Less CapEx to Interest Expense		 0.18 0.15 2.38
Payout Ratios		 - - -
Dividend Payout Ratio		 79.96% 101.18% 29.72%
Augmented Payout Ratio		 79.96% 101.18% 29.72%

Quarterly Metrics And Ratios for Horizon Bancorp

This table displays calculated financial ratios and metrics derived from Horizon Bancorp's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 10.84% 8.35% -2.44% -2.99% -63.32% -13.10% -11.35% -10.05% 4.46% -0.86%
EBITDA Growth		 -27.08% 1.53% -18.15% -19.77% -144.01% -28.56% -26.58% -23.68% -7.58% -8.49%
EBIT Growth		 -16.69% 3.52% -21.48% -23.82% -178.93% -32.30% -29.89% -25.87% -6.63% -4.77%
NOPAT Growth		 -16.69% 12.19% -24.64% -23.24% -162.16% -31.97% -24.52% -22.64% -1.21% 3.25%
Net Income Growth		 56.84% 12.19% -24.64% -23.24% -219.14% -31.97% -24.52% -22.64% -1.21% 3.25%
EPS Growth		 56.90% 10.81% -25.58% -23.81% -220.83% -32.73% -24.56% -22.22% -4.00% 5.77%
Operating Cash Flow Growth		 -422.92% 8.16% -15.34% -74.15% 31.16% 8.48% -31.01% -10.22% -34.85% -1.89%
Free Cash Flow Firm Growth		 123.04% 115.01% 98.71% 91.73% 28.06% -17.43% 3.91% -178.45% -46.80% 80.27%
Invested Capital Growth		 -3.46% -1.52% 0.90% 2.95% 12.83% 19.75% 25.66% 40.00% 24.80% 21.02%
Revenue Q/Q Growth		 -58.62% 4.76% 4.79% 144.03% -59.55% -5.66% 4.19% -7.74% -4.18% -3.77%
EBITDA Q/Q Growth		 -172.42% 10.55% 2.04% 255.55% -157.86% -10.87% 0.02% -14.68% -6.08% -8.40%
EBIT Q/Q Growth		 -221.14% 14.06% 3.71% 181.43% -207.47% -13.49% 0.62% -15.63% -7.82% -10.40%
NOPAT Q/Q Growth		 -184.45% 28.57% 1.07% 206.34% -181.19% -13.63% 2.94% -13.88% -11.15% -4.18%
Net Income Q/Q Growth		 -159.86% 28.57% 1.07% 155.49% -255.60% -13.63% 2.94% -13.88% -11.15% -4.18%
EPS Q/Q Growth		 -160.98% 28.13% 0.00% 155.17% -256.76% -13.95% 2.38% -12.50% -12.73% -3.51%
Operating Cash Flow Q/Q Growth		 -249.86% 102.76% 143.26% -56.32% -49.80% 58.71% -25.71% 121.62% -58.48% 0.93%
Free Cash Flow Firm Q/Q Growth		 17.75% 1,030.13% 88.73% 81.33% 23.29% 19.92% 27.89% -62.41% -25.22% 34.48%
Invested Capital Q/Q Growth		 -1.13% -2.91% 0.17% 0.40% 0.86% -0.52% 2.20% 10.03% 7.04% 4.39%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 -69.66% 39.80% 37.72% 38.73% -60.76% 42.48% 44.96% 46.83% 50.64% 51.67%
EBIT Margin		 -90.73% 30.99% 28.46% 28.76% -86.19% 32.44% 35.37% 36.62% 40.05% 41.63%
Profit (Net Income) Margin		 -45.02% 31.12% 25.36% 26.29% -115.62% 30.05% 32.83% 33.23% 35.60% 38.39%
Tax Burden Percent		 49.61% 100.41% 89.08% 91.41% 134.15% 92.66% 92.82% 90.73% 88.88% 92.21%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% -0.41% 10.92% 8.59% 0.00% 7.34% 7.18% 9.27% 11.12% 7.79%
Return on Invested Capital (ROIC)		 -5.67% 2.74% 2.14% 2.26% -5.50% 3.41% 3.92% 4.38% 5.04% 5.68%
ROIC Less NNEP Spread (ROIC-NNEP)		 -5.35% 2.74% 2.14% 2.26% -6.38% 3.41% 3.92% 4.38% 5.04% 5.68%
Return on Net Nonoperating Assets (RNNOA)		 -10.15% 5.39% 4.38% 4.61% -12.46% 6.71% 7.29% 7.22% 7.51% 8.18%
Return on Equity (ROE)		 -15.81% 8.13% 6.52% 6.87% -17.95% 10.12% 11.21% 11.60% 12.55% 13.87%
Cash Return on Invested Capital (CROIC)		 5.17% 2.52% -0.02% -1.81% -10.70% -14.23% -18.55% -28.51% -16.71% -13.35%
Operating Return on Assets (OROA)		 -2.21% 0.74% 0.66% 0.68% -2.05% 0.93% 1.06% 1.15% 1.29% 1.33%
Return on Assets (ROA)		 -1.10% 0.74% 0.59% 0.62% -2.75% 0.86% 0.98% 1.04% 1.15% 1.23%
Return on Common Equity (ROCE)		 -15.81% 8.13% 6.52% 6.87% -17.95% 10.12% 11.21% 11.60% 12.55% 13.87%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 2.79% 2.63% 3.29% 0.00% 10.72% 11.56% 12.54% 0.00% 14.52%
Net Operating Profit after Tax (NOPAT)		 -15 18 14 14 -13 16 19 18 21 24
NOPAT Margin		 -63.51% 31.12% 25.36% 26.29% -60.33% 30.05% 32.83% 33.23% 35.60% 38.39%
Net Nonoperating Expense Percent (NNEP)		 -0.32% 0.00% 0.00% 0.00% 0.89% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 131.70% 47.95% 47.26% 49.38% 128.76% 48.85% 46.24% 45.47% 43.97% 42.62%
Operating Expenses to Revenue		 185.89% 67.22% 67.29% 69.73% 180.35% 67.08% 63.44% 62.93% 60.06% 59.33%
Earnings before Interest and Taxes (EBIT)		 -22 18 16 15 -19 17 20 20 24 26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -17 23 21 21 -13 23 26 26 30 32
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.91 0.89 0.74 0.76 0.83 0.64 0.60 0.63 0.87 1.09
Price to Tangible Book Value (P/TBV)		 1.17 1.14 0.96 1.00 1.08 0.84 0.80 0.83 1.17 1.50
Price to Revenue (P/Rev)		 3.64 3.55 2.92 2.96 3.17 1.96 1.84 1.84 2.39 2.89
Price to Earnings (P/E)		 19.68 31.87 28.17 23.22 21.27 5.94 5.23 5.03 6.32 7.54
Dividend Yield		 4.01% 4.16% 5.24% 5.12% 4.74% 6.39% 6.59% 6.19% 4.61% 3.76%
Earnings Yield		 5.08% 3.14% 3.55% 4.31% 4.70% 16.84% 19.12% 19.87% 15.82% 13.27%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.85 0.85 0.80 0.70 0.80 0.76 0.81 0.89 0.97
Enterprise Value to Revenue (EV/Rev)		 9.13 9.59 10.08 9.41 8.16 7.71 7.13 7.20 6.98 7.19
Enterprise Value to EBITDA (EV/EBITDA)		 36.38 35.14 36.28 31.28 25.10 16.64 14.67 14.11 13.17 13.18
Enterprise Value to EBIT (EV/EBIT)		 63.93 59.53 62.31 51.17 39.29 21.29 18.51 17.58 16.32 16.38
Enterprise Value to NOPAT (EV/NOPAT)		 49.35 86.04 97.34 73.73 54.76 23.36 20.32 19.68 18.44 18.76
Enterprise Value to Operating Cash Flow (EV/OCF)		 274.57 26.03 27.66 24.95 17.23 20.35 20.05 18.94 18.25 17.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.75 33.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.76 1.83 2.02 2.04 2.04 2.12 2.07 2.03 1.86 1.80
Long-Term Debt to Equity		 1.76 1.83 2.02 2.04 2.04 2.12 2.07 2.03 1.86 1.80
Financial Leverage		 1.90 1.97 2.05 2.04 1.95 1.97 1.86 1.65 1.49 1.44
Leverage Ratio		 10.62 10.97 11.06 11.06 11.33 11.71 11.41 11.10 10.91 11.27
Compound Leverage Factor		 10.62 10.97 11.06 11.06 11.33 11.71 11.41 11.10 10.91 11.27
Debt to Total Capital		 63.80% 64.61% 66.93% 67.12% 67.10% 67.99% 67.43% 67.02% 65.02% 64.34%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 63.80% 64.61% 66.93% 67.12% 67.10% 67.99% 67.43% 67.02% 65.02% 64.34%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 36.21% 35.39% 33.07% 32.88% 32.90% 32.01% 32.57% 32.98% 34.98% 35.66%
Debt to EBITDA		 28.00 26.69 28.66 26.31 24.02 14.11 12.93 11.62 9.62 8.73
Net Debt to EBITDA		 21.88 22.13 25.78 21.43 15.35 12.41 10.89 10.50 8.66 7.89
Long-Term Debt to EBITDA		 28.00 26.69 28.66 26.31 24.02 14.11 12.93 11.62 9.62 8.73
Debt to NOPAT		 37.98 65.33 76.90 62.00 52.39 19.81 17.91 16.21 13.48 12.43
Net Debt to NOPAT		 29.67 54.17 69.17 50.51 33.49 17.42 15.09 14.65 12.12 11.23
Long-Term Debt to NOPAT		 37.98 65.33 76.90 62.00 52.39 19.81 17.91 16.21 13.48 12.43
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 60 51 -5.50 -49 -262 -341 -426 -591 -364 -290
Operating Cash Flow to CapEx		 -2,690.38% 2,523.69% 1,920.27% 555.52% 1,122.10% 2,565.95% 399.21% 4,464.02% 660.94% 1,862.56%
Free Cash Flow to Firm to Interest Expense		 1.50 1.16 -0.13 -1.16 -6.34 -8.96 -13.87 -22.23 -19.76 -30.14
Operating Cash Flow to Interest Expense		 -1.20 0.73 0.38 0.16 0.36 0.78 0.61 0.95 0.62 2.86
Operating Cash Flow Less CapEx to Interest Expense		 -1.25 0.70 0.36 0.13 0.33 0.75 0.46 0.93 0.53 2.70
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.02 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 2.03 2.01 1.96 2.00 2.01 2.41 2.47 2.61 2.65 2.63
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,109 2,133 2,197 2,193 2,185 2,166 2,177 2,131 1,936 1,809
Invested Capital Turnover		 0.09 0.09 0.08 0.09 0.09 0.11 0.12 0.13 0.14 0.15
Increase / (Decrease) in Invested Capital		 -76 -33 20 63 248 357 445 609 385 314
Enterprise Value (EV)		 1,748 1,815 1,861 1,751 1,532 1,737 1,665 1,733 1,723 1,758
Market Capitalization		 697 672 539 551 595 442 429 443 590 706
Book Value per Share		 $17.47 $17.27 $16.47 $16.35 $16.29 $15.72 $16.08 $16.12 $15.42 $14.80
Tangible Book Value per Share		 $13.68 $13.46 $12.68 $12.54 $12.47 $11.87 $12.21 $12.19 $11.49 $10.82
Total Capital		 2,109 2,133 2,197 2,193 2,185 2,166 2,177 2,131 1,936 1,809
Total Debt		 1,345 1,378 1,470 1,472 1,466 1,473 1,468 1,428 1,259 1,164
Total Long-Term Debt		 1,345 1,378 1,470 1,472 1,466 1,473 1,468 1,428 1,259 1,164
Net Debt		 1,051 1,143 1,323 1,199 937 1,295 1,237 1,290 1,133 1,051
Capital Expenditures (CapEx)		 1.80 1.28 0.83 1.18 1.34 1.16 4.71 0.57 1.73 1.48
Net Nonoperating Expense (NNE)		 -4.47 0.00 0.00 0.00 12 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 1,345 1,378 1,470 1,472 1,466 1,473 1,468 1,428 1,259 1,164
Total Depreciation and Amortization (D&A)		 5.09 5.15 5.16 5.31 5.55 5.41 5.48 5.60 6.30 6.23
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.25) $0.42 $0.32 $0.32 ($0.58) $0.37 $0.43 $0.42 $0.48 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M
Adjusted Diluted Earnings per Share		 ($0.25) $0.41 $0.32 $0.32 ($0.58) $0.37 $0.43 $0.42 $0.48 $0.55
Adjusted Weighted Average Diluted Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 44.01M 43.72M 43.71M 44.12M 44.11M 44.11M 44.11M 44.12M 43.58M 43.93M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 13 15 14 -13 16 19 18 21 24
Normalized NOPAT Margin		 -62.44% 22.05% 26.18% 26.32% -58.70% 30.38% 33.04% 33.59% 35.77% 38.98%
Pre Tax Income Margin		 -90.73% 30.99% 28.46% 28.76% -86.19% 32.44% 35.37% 36.62% 40.05% 41.63%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -0.55 0.41 0.38 0.36 -0.46 0.46 0.66 0.76 1.29 2.68
NOPAT to Interest Expense		 -0.38 0.41 0.34 0.33 -0.32 0.43 0.61 0.69 1.15 2.47
EBIT Less CapEx to Interest Expense		 -0.59 0.38 0.36 0.34 -0.49 0.43 0.50 0.74 1.20 2.53
NOPAT Less CapEx to Interest Expense		 -0.43 0.38 0.32 0.31 -0.35 0.40 0.46 0.66 1.06 2.32
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 79.96% 134.32% 148.11% 119.36% 101.18% 38.08% 34.50% 32.04% 29.72% 29.18%
Augmented Payout Ratio		 79.96% 134.32% 148.11% 119.36% 101.18% 38.08% 34.50% 32.04% 29.72% 29.18%

Frequently Asked Questions About Horizon Bancorp's Financials

When does Horizon Bancorp's fiscal year end?

According to the most recent income statement we have on file, Horizon Bancorp's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Horizon Bancorp's net income changed over the last 2 years?

Horizon Bancorp's net income appears to be on a downward trend, with a most recent value of $35.43 million in 2024, falling from $93.41 million in 2022. The previous period was $27.98 million in 2023. View Horizon Bancorp's forecast to see where analysts expect Horizon Bancorp to go next.

How has Horizon Bancorp revenue changed over the last 2 years?

Over the last 2 years, Horizon Bancorp's total revenue changed from $246.97 million in 2022 to $191.58 million in 2024, a change of -22.4%.

How much debt does Horizon Bancorp have?

Horizon Bancorp's total liabilities were at $7.04 billion at the end of 2024, a 2.5% decrease from 2023, and a 2.2% decrease since 2022.

How much cash does Horizon Bancorp have?

In the past 2 years, Horizon Bancorp's cash and equivalents has ranged from $92.30 million in 2024 to $123.51 million in 2022, and is currently $92.30 million as of their latest financial filing in 2024.

How has Horizon Bancorp's book value per share changed over the last 2 years?

Over the last 2 years, Horizon Bancorp's book value per share changed from 15.42 in 2022 to 17.47 in 2024, a change of 13.3%.


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This page (NASDAQ:HBNC) was last updated on 5/27/2025 by MarketBeat.com Staff
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