Heritage Commerce (HTBK) Financials

$9.30 +0.22 (+2.42%)

Closing price 05/2/2025 04:00 PM Eastern

Extended Trading

$9.30 0.00 (0.00%)

As of 05/2/2025 04:40 PM Eastern

Annual Income Statements for Heritage Commerce

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

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	67	64	41
Consolidated Net Income / (Loss)	67	64	41
Net Income / (Loss) Continuing Operations	67	64	41
Total Pre-Tax Income	94	90	57
Total Revenue	190	192	172
Net Interest Income / (Expense)	180	183	164
Total Interest Income	189	234	243
Loans and Leases Interest Income	153	178	183
Investment Securities Interest Income	22	28	22
Deposits and Money Market Investments Interest Income	14	28	38
Total Interest Expense	8.95	51	79
Deposits Interest Expense	6.77	48	77
Short-Term Borrowings Interest Expense	0.00	1.37	0.00
Long-Term Debt Interest Expense	2.18	2.15	2.15
Total Non-Interest Income	10	9.00	8.75
Other Service Charges	7.00	6.36	5.96
Net Realized & Unrealized Capital Gains on Investments	1.19	0.48	0.69
Other Non-Interest Income	1.93	2.16	2.10
Provision for Credit Losses	0.77	0.75	2.14
Total Non-Interest Expense	95	101	114
Salaries and Employee Benefits	55	57	64
Net Occupancy & Equipment Expense	9.64	9.49	10
Other Operating Expenses	30	35	39
Income Tax Expense	28	26	16
Basic Earnings per Share	$1.10	$1.06	$0.66
Weighted Average Basic Shares Outstanding	60.90M	61.17M	61.44M
Diluted Earnings per Share	$1.09	$1.05	$0.66
Weighted Average Diluted Shares Outstanding	60.90M	61.17M	61.44M
Weighted Average Basic & Diluted Shares Outstanding	60.90M	61.17M	61.44M
Cash Dividends to Common per Share	$0.52	$0.52	$0.52

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	18	21	19	16	16	13	10	9.23	11	11
Consolidated Net Income / (Loss)	18	21	19	16	16	13	10	9.23	11	11
Net Income / (Loss) Continuing Operations	18	21	19	16	16	13	10	9.23	11	11
Total Pre-Tax Income	26	29	27	23	22	18	14	13	14	15
Total Revenue	51	55	52	48	48	44	42	42	42	46
Net Interest Income / (Expense)	48	52	49	46	45	42	40	39	40	44
Total Interest Income	50	55	56	58	61	59	58	59	61	65
Loans and Leases Interest Income	39	43	44	44	45	45	45	45	46	47
Investment Securities Interest Income	6.13	7.20	7.30	7.22	7.03	6.74	6.41	5.71	4.90	4.69
Deposits and Money Market Investments Interest Income	5.17	5.49	4.86	7.09	8.91	7.51	6.54	7.90	11	13
Total Interest Expense	2.13	3.45	7.02	12	15	17	17	20	22	20
Deposits Interest Expense	1.60	2.92	5.90	11	15	16	17	19	21	20
Long-Term Debt Interest Expense	0.54	0.54	0.54	0.54	0.54	0.54	0.54	0.54	0.54	0.54
Total Non-Interest Income	2.78	2.77	2.77	2.07	2.22	1.94	2.05	2.28	2.24	2.19
Other Service Charges	1.96	2.29	2.20	1.37	1.39	1.40	1.35	1.46	1.62	1.53
Net Realized & Unrealized Capital Gains on Investments	0.34	0.03	0.08	0.20	0.31	-0.10	0.18	0.30	0.09	0.13
Other Non-Interest Income	0.48	0.45	0.49	0.50	0.52	0.64	0.52	0.52	0.53	0.53
Provision for Credit Losses	1.01	0.51	0.03	0.26	0.17	0.29	0.18	0.47	0.15	1.33
Total Non-Interest Expense	24	25	25	25	25	25	28	28	28	30
Salaries and Employee Benefits	14	14	15	14	14	14	16	16	16	17
Net Occupancy & Equipment Expense	2.42	2.51	2.40	2.42	2.30	2.37	2.44	2.69	2.60	2.50
Other Operating Expenses	7.37	8.09	8.19	8.58	8.72	9.21	9.58	9.71	9.28	11
Income Tax Expense	7.85	8.69	7.67	6.71	6.45	5.14	4.25	3.84	3.94	4.11
Basic Earnings per Share	$0.30	$0.35	$0.31	$0.27	$0.26	$0.22	$0.17	$0.15	$0.17	$0.17
Weighted Average Basic Shares Outstanding	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M
Diluted Earnings per Share	$0.30	$0.34	$0.31	$0.27	$0.26	$0.21	$0.17	$0.15	$0.17	$0.17
Weighted Average Diluted Shares Outstanding	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M
Weighted Average Basic & Diluted Shares Outstanding	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M

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

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-1,000	102	560
Net Cash From Operating Activities	70	73	39
Net Cash From Continuing Operating Activities	70	73	39
Net Income / (Loss) Continuing Operations	67	64	41
Consolidated Net Income / (Loss)	67	64	41
Provision For Loan Losses	0.77	0.75	2.14
Depreciation Expense	1.12	1.12	1.34
Amortization Expense	4.44	-0.86	0.67
Non-Cash Adjustments to Reconcile Net Income	-1.93	-0.91	-0.56
Changes in Operating Assets and Liabilities, net	-1.10	8.48	-5.15
Net Cash From Investing Activities	-669	70	111
Net Cash From Continuing Investing Activities	-669	70	111
Purchase of Property, Leasehold Improvements and Equipment	-0.78	-1.67	-1.62
Purchase of Investment Securities	-780	-52	-173
Sale and/or Maturity of Investments	111	124	285
Net Cash From Financing Activities	-400	-42	410
Net Cash From Continuing Financing Activities	-400	-42	410
Net Change in Deposits	-370	-11	442
Issuance of Debt	39	0.00	0.00
Repayment of Debt	-40	0.00	0.00
Payment of Dividends	-31	-32	-32
Other Financing Activities, Net	2.05	1.22	0.69
Cash Interest Paid	8.65	47	77
Cash Income Taxes Paid	25	28	13

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-195	-375	433	-229	134	-237	133	107	308	12
Net Cash From Operating Activities	16	27	30	31	17	-4.58	7.34	11	5.31	16
Net Cash From Continuing Operating Activities	16	27	30	31	17	-4.58	7.34	11	5.31	16
Net Income / (Loss) Continuing Operations	18	21	19	16	16	13	10	9.23	11	11
Consolidated Net Income / (Loss)	18	21	19	16	16	13	10	9.23	11	11
Provision For Loan Losses	1.01	0.51	0.03	0.26	0.17	0.29	0.18	0.47	0.15	1.33
Depreciation Expense	0.28	0.27	0.27	0.27	0.28	0.29	0.30	0.33	0.35	0.36
Amortization Expense	1.31	-0.19	-0.24	-0.27	-0.24	-0.11	-0.04	0.03	0.35	0.32
Non-Cash Adjustments to Reconcile Net Income	-0.13	-0.71	-0.68	-0.60	1.98	-1.61	0.08	-0.15	0.24	-0.73
Changes in Operating Assets and Liabilities, net	-4.36	6.46	12	15	-1.13	-17	-3.36	0.59	-6.29	3.91
Net Cash From Investing Activities	-273	-102	56	-7.90	50	-28	67	104	26	-87
Net Cash From Continuing Investing Activities	-273	-102	56	-7.90	50	-28	67	104	26	-87
Purchase of Property, Leasehold Improvements and Equipment	-0.12	-0.14	-0.11	-0.33	-0.79	-0.44	-0.43	-0.65	-0.44	-0.11
Purchase of Investment Securities	-297	-121	36	-27	3.05	-65	14	-44	-31	-112
Sale and/or Maturity of Investments	24	19	19	19	48	37	54	149	57	26
Net Cash From Financing Activities	62	-300	348	-251	67	-205	59	-7.96	277	83
Net Cash From Continuing Financing Activities	62	-300	348	-251	67	-205	59	-7.96	277	83
Net Change in Deposits	70	-294	55	56	75	-197	66	-0.05	285	90
Payment of Dividends	-7.89	-7.90	-7.92	-7.94	-7.94	-7.94	-7.95	-7.97	-7.97	-7.97
Other Financing Activities, Net	0.02	1.18	0.68	0.31	-	0.22	0.39	0.06	0.04	0.21
Cash Interest Paid	1.56	3.78	5.66	12	13	17	16	19	21	21
Cash Income Taxes Paid	7.02	6.00	-	-	0.01	28	-	-	2.65	0.88

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

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	5,158	5,194	5,645
Cash and Due from Banks	28	42	30
Interest Bearing Deposits at Other Banks	279	367	938
Trading Account Securities	492	445	259
Loans and Leases, Net of Allowance	3,251	3,302	3,443
Loans and Leases	3,299	3,350	3,492
Allowance for Loan and Lease Losses	48	48	49
Premises and Equipment, Net	9.30	9.86	10
Goodwill	168	168	168
Intangible Assets	11	8.63	6.44
Other Assets	920	853	791
Total Liabilities & Shareholders' Equity	5,158	5,194	5,645
Total Liabilities	4,525	4,521	4,955
Non-Interest Bearing Deposits	1,737	1,292	1,214
Interest Bearing Deposits	2,653	3,086	3,606
Accrued Interest Payable	96	103	96
Long-Term Debt	39	40	40
Total Equity & Noncontrolling Interests	632	673	690
Total Preferred & Common Equity	632	673	690
Preferred Stock	0.00	0.00	0.00
Total Common Equity	632	673	690
Common Stock	503	507	510
Retained Earnings	146	179	188
Accumulated Other Comprehensive Income / (Loss)	-17	-13	-8.11

This table presents Heritage Commerce'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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	5,431	5,537	5,312	5,403	5,256	5,263	5,552
Cash and Due from Banks	41	41	43	40	33	37	50
Interest Bearing Deposits at Other Banks	641	699	469	605	509	611	907
Trading Account Securities	481	495	489	458	406	275	239
Loans and Leases, Net of Allowance	0.00	0.00	3,241	3,238	3,288	3,332	3,362
Loans and Leases	-	-	3,289	3,285	3,336	3,380	3,410
Allowance for Loan and Lease Losses	-	-	48	48	48	48	48
Premises and Equipment, Net	9.43	9.14	9.20	9.71	9.99	10	10
Goodwill	168	168	168	168	168	168	168
Intangible Assets	12	10	9.83	9.23	8.07	7.52	6.97
Other Assets	4,080	4,115	884	875	834	823	809
Total Liabilities & Shareholders' Equity	5,431	5,537	5,312	5,403	5,256	5,263	5,552
Total Liabilities	4,822	4,889	4,658	4,741	4,580	4,584	4,866
Non-Interest Bearing Deposits	1,884	1,469	1,320	1,244	1,242	1,187	1,272
Interest Bearing Deposits	2,800	2,975	3,181	3,332	3,203	3,257	3,457
Accrued Interest Payable	99	105	118	126	96	100	97
Long-Term Debt	39	39	39	39	40	40	40
Total Equity & Noncontrolling Interests	610	647	654	662	676	679	685
Total Preferred & Common Equity	610	647	654	662	676	679	685
Preferred Stock	0.00	0.00	0.00	0.00	-	0.00	0.00
Total Common Equity	610	647	654	662	676	679	685
Common Stock	501	504	505	506	508	508	509
Retained Earnings	133	157	166	174	181	183	185
Accumulated Other Comprehensive Income / (Loss)	-25	-14	-17	-17	-13	-12	-8.89

This table displays calculated financial ratios and metrics derived from Heritage Commerce's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	21.94%	1.17%	-10.31%
EBITDA Growth	31.98%	-9.26%	-35.28%
EBIT Growth	43.26%	-4.18%	-37.32%
NOPAT Growth	39.53%	-3.17%	-37.11%
Net Income Growth	39.53%	-3.17%	-37.11%
EPS Growth	37.97%	-3.67%	-37.14%
Operating Cash Flow Growth	22.87%	4.52%	-46.62%
Free Cash Flow Firm Growth	19.46%	-27.08%	-1.24%
Invested Capital Growth	5.31%	6.04%	2.38%
Revenue Q/Q Growth	7.71%	-5.07%	1.25%
EBITDA Q/Q Growth	8.45%	-10.75%	-5.20%
EBIT Q/Q Growth	12.09%	-10.87%	-6.17%
NOPAT Q/Q Growth	11.44%	-10.39%	-6.26%
Net Income Q/Q Growth	11.44%	-10.39%	-6.26%
EPS Q/Q Growth	12.37%	-11.02%	-5.71%
Operating Cash Flow Q/Q Growth	16.12%	-30.29%	109.85%
Free Cash Flow Firm Q/Q Growth	-20.02%	23.24%	19.79%
Invested Capital Q/Q Growth	3.54%	1.57%	0.61%
Profitability Metrics	-	-	-
EBITDA Margin	52.59%	47.17%	34.04%
EBIT Margin	49.67%	47.04%	32.87%
Profit (Net Income) Margin	35.03%	33.53%	23.51%
Tax Burden Percent	70.53%	71.27%	71.51%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	29.47%	28.73%	28.49%
Return on Invested Capital (ROIC)	10.16%	9.31%	5.62%
ROIC Less NNEP Spread (ROIC-NNEP)	10.16%	9.31%	5.62%
Return on Net Nonoperating Assets (RNNOA)	0.65%	0.56%	0.33%
Return on Equity (ROE)	10.82%	9.87%	5.95%
Cash Return on Invested Capital (CROIC)	4.99%	3.45%	3.27%
Operating Return on Assets (OROA)	1.77%	1.75%	1.05%
Return on Assets (ROA)	1.25%	1.25%	0.75%
Return on Common Equity (ROCE)	10.82%	9.87%	5.95%
Return on Equity Simple (ROE_SIMPLE)	10.52%	9.58%	5.88%
Net Operating Profit after Tax (NOPAT)	67	64	41
NOPAT Margin	35.03%	33.53%	23.51%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	34.20%	34.52%	43.03%
Operating Expenses to Revenue	49.93%	52.57%	65.88%
Earnings before Interest and Taxes (EBIT)	94	90	57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	100	91	59
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.10	0.84	0.82
Price to Tangible Book Value (P/TBV)	1.53	1.14	1.10
Price to Revenue (P/Rev)	3.66	2.94	3.29
Price to Earnings (P/E)	10.44	8.77	14.00
Dividend Yield	4.54%	5.62%	5.62%
Earnings Yield	9.58%	11.41%	7.14%
Enterprise Value to Invested Capital (EV/IC)	0.64	0.28	0.00
Enterprise Value to Revenue (EV/Rev)	2.25	1.02	0.00
Enterprise Value to EBITDA (EV/EBITDA)	4.28	2.17	0.00
Enterprise Value to EBIT (EV/EBIT)	4.53	2.17	0.00
Enterprise Value to NOPAT (EV/NOPAT)	6.42	3.05	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	6.12	2.69	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	13.07	8.23	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.06	0.06	0.06
Long-Term Debt to Equity	0.06	0.06	0.06
Financial Leverage	0.06	0.06	0.06
Leverage Ratio	8.66	7.93	7.95
Compound Leverage Factor	8.66	7.93	7.95
Debt to Total Capital	5.86%	5.54%	5.44%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	5.86%	5.54%	5.44%
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	94.14%	94.46%	94.56%
Debt to EBITDA	0.39	0.44	0.68
Net Debt to EBITDA	-2.67	-4.07	-15.82
Long-Term Debt to EBITDA	0.39	0.44	0.68
Debt to NOPAT	0.59	0.61	0.98
Net Debt to NOPAT	-4.02	-5.72	-22.91
Long-Term Debt to NOPAT	0.59	0.61	0.98
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	33	24	24
Operating Cash Flow to CapEx	8,921.20%	4,369.24%	2,399.69%
Free Cash Flow to Firm to Interest Expense	3.65	0.47	0.30
Operating Cash Flow to Interest Expense	7.81	1.43	0.49
Operating Cash Flow Less CapEx to Interest Expense	7.72	1.40	0.47
Efficiency Ratios	-	-	-
Asset Turnover	0.04	0.04	0.03
Fixed Asset Turnover	20.06	20.07	17.24
Capital & Investment Metrics	-	-	-
Invested Capital	672	712	729
Invested Capital Turnover	0.29	0.28	0.24
Increase / (Decrease) in Invested Capital	34	41	17
Enterprise Value (EV)	428	196	-361
Market Capitalization	695	565	568
Book Value per Share	$10.42	$11.01	$11.25
Tangible Book Value per Share	$7.47	$8.13	$8.41
Total Capital	672	712	729
Total Debt	39	40	40
Total Long-Term Debt	39	40	40
Net Debt	-267	-369	-928
Capital Expenditures (CapEx)	0.78	1.67	1.62
Net Nonoperating Expense (NNE)	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	39	40	40
Total Depreciation and Amortization (D&A)	5.56	0.26	2.01
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.10	$1.06	$0.66
Adjusted Weighted Average Basic Shares Outstanding	60.90M	61.17M	61.44M
Adjusted Diluted Earnings per Share	$1.09	$1.05	$0.66
Adjusted Weighted Average Diluted Shares Outstanding	60.90M	61.17M	61.44M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	60.90M	61.17M	61.44M
Normalized Net Operating Profit after Tax (NOPAT)	67	64	41
Normalized NOPAT Margin	35.03%	33.53%	23.51%
Pre Tax Income Margin	49.67%	47.04%	32.87%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	10.55	1.77	0.72
NOPAT to Interest Expense	7.44	1.26	0.51
EBIT Less CapEx to Interest Expense	10.46	1.74	0.70
NOPAT Less CapEx to Interest Expense	7.35	1.23	0.49
Payout Ratios	-	-	-
Dividend Payout Ratio	47.32%	49.25%	78.61%
Augmented Payout Ratio	47.32%	49.25%	78.61%

This table displays calculated financial ratios and metrics derived from Heritage Commerce's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	25.21%	33.22%	27.88%	9.98%	-6.36%	-18.84%	-19.00%	-13.72%	-11.42%	4.81%
EBITDA Growth	26.81%	35.76%	31.96%	1.98%	-18.99%	-36.95%	-44.85%	-41.90%	-32.03%	-17.26%
EBIT Growth	34.47%	52.72%	47.76%	10.24%	-14.15%	-37.38%	-45.77%	-43.45%	-35.07%	-20.19%
NOPAT Growth	31.72%	48.94%	47.03%	10.67%	-12.59%	-35.92%	-46.26%	-43.71%	-33.48%	-20.31%
Net Income Growth	31.72%	48.94%	47.03%	10.67%	-12.59%	-35.92%	-46.26%	-43.71%	-33.48%	-20.31%
EPS Growth	30.43%	54.55%	47.62%	12.50%	-13.33%	-38.24%	-45.16%	-44.44%	-34.62%	-19.05%
Operating Cash Flow Growth	-11.51%	55.58%	78.50%	215.81%	4.11%	-116.88%	-75.51%	-65.87%	-68.51%	445.32%
Free Cash Flow Firm Growth	-162.52%	-105.28%	-4,754.86%	-259.41%	-4,712.70%	-108.89%	186.01%	45.53%	64.46%	76.69%
Invested Capital Growth	2.99%	5.31%	53.90%	7.21%	8.10%	6.04%	-27.44%	3.71%	3.36%	2.38%
Revenue Q/Q Growth	15.57%	7.26%	-4.56%	-7.03%	-1.61%	-7.03%	-4.75%	-0.97%	1.02%	10.00%
EBITDA Q/Q Growth	21.33%	7.47%	-9.94%	-13.16%	-3.61%	-16.36%	-21.22%	-8.53%	12.77%	1.81%
EBIT Q/Q Growth	23.60%	13.77%	-9.82%	-13.07%	-3.75%	-17.02%	-21.90%	-9.35%	10.52%	1.99%
NOPAT Q/Q Growth	21.91%	15.11%	-9.05%	-13.29%	-3.71%	-15.62%	-23.72%	-9.17%	13.79%	1.09%
Net Income Q/Q Growth	21.91%	15.11%	-9.05%	-13.29%	-3.71%	-15.62%	-23.72%	-9.17%	13.79%	1.09%
EPS Q/Q Growth	25.00%	13.33%	-8.82%	-12.90%	-3.70%	-19.23%	-19.05%	-11.76%	13.33%	0.00%
Operating Cash Flow Q/Q Growth	65.97%	67.74%	10.38%	2.77%	-45.29%	-127.20%	260.18%	43.21%	-49.52%	198.19%
Free Cash Flow Firm Q/Q Growth	90.91%	-1,608.64%	-2,402.18%	90.76%	-21.78%	25.84%	1,130.20%	-105.85%	20.55%	51.36%
Invested Capital Q/Q Growth	0.36%	3.54%	46.86%	-29.75%	1.20%	1.57%	0.48%	0.41%	0.86%	0.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	54.13%	54.23%	51.18%	47.80%	46.83%	42.13%	34.85%	32.19%	35.93%	33.26%
EBIT Margin	51.00%	54.09%	51.11%	47.79%	46.75%	41.73%	34.22%	31.32%	34.27%	31.78%
Profit (Net Income) Margin	35.55%	38.16%	36.36%	33.91%	33.19%	30.12%	24.12%	22.13%	24.92%	22.90%
Tax Burden Percent	69.72%	70.54%	71.14%	70.96%	70.99%	72.19%	70.50%	70.64%	72.73%	72.08%
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	30.28%	29.46%	28.86%	29.04%	29.01%	27.81%	29.50%	29.36%	27.27%	27.92%
Return on Invested Capital (ROIC)	9.81%	11.07%	9.00%	10.42%	9.96%	8.37%	5.17%	5.51%	5.95%	5.48%
ROIC Less NNEP Spread (ROIC-NNEP)	9.81%	11.07%	9.00%	10.42%	9.96%	8.37%	5.17%	5.51%	5.95%	5.48%
Return on Net Nonoperating Assets (RNNOA)	0.65%	0.71%	2.73%	0.65%	0.62%	0.51%	1.48%	0.33%	0.35%	0.32%
Return on Equity (ROE)	10.46%	11.78%	11.73%	11.07%	10.57%	8.87%	6.65%	5.83%	6.30%	5.80%
Cash Return on Invested Capital (CROIC)	6.39%	4.99%	-33.54%	4.12%	2.87%	3.45%	38.35%	3.24%	2.76%	3.27%
Operating Return on Assets (OROA)	1.65%	1.93%	1.88%	1.84%	1.75%	1.55%	1.16%	1.04%	1.07%	1.01%
Return on Assets (ROA)	1.15%	1.36%	1.34%	1.31%	1.24%	1.12%	0.82%	0.74%	0.77%	0.73%
Return on Common Equity (ROCE)	10.46%	11.78%	11.73%	11.07%	10.57%	8.87%	6.65%	5.83%	6.30%	5.80%
Return on Equity Simple (ROE_SIMPLE)	9.80%	0.00%	11.22%	11.35%	10.86%	0.00%	8.23%	7.14%	6.31%	0.00%
Net Operating Profit after Tax (NOPAT)	18	21	19	16	16	13	10	9.23	11	11
NOPAT Margin	35.55%	38.16%	36.36%	33.91%	33.19%	30.12%	24.12%	22.13%	24.92%	22.90%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	32.53%	30.13%	33.08%	33.93%	34.56%	36.81%	42.60%	44.29%	43.34%	41.99%
Operating Expenses to Revenue	47.02%	44.98%	48.83%	51.67%	52.89%	57.62%	65.34%	67.55%	65.37%	65.35%
Earnings before Interest and Taxes (EBIT)	26	29	27	23	22	18	14	13	14	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	30	27	23	22	19	15	13	15	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.01	1.10	0.71	0.72	0.73	0.84	0.75	0.77	0.87	0.82
Price to Tangible Book Value (P/TBV)	1.43	1.53	0.99	0.98	0.99	1.14	1.02	1.04	1.17	1.10
Price to Revenue (P/Rev)	3.49	3.66	2.30	2.28	2.38	2.94	2.79	2.99	3.51	3.29
Price to Earnings (P/E)	10.30	10.44	6.37	6.32	6.70	8.77	9.15	10.83	13.84	14.00
Dividend Yield	5.13%	4.54%	6.84%	6.76%	6.60%	5.62%	6.24%	6.06%	5.33%	5.62%
Earnings Yield	9.71%	9.58%	15.69%	15.82%	14.94%	11.41%	10.93%	9.23%	7.23%	7.14%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.64	0.06	0.00	0.00	0.28	0.01	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	2.25	0.31	0.00	0.00	1.02	0.04	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	4.28	0.58	0.00	0.00	2.17	0.10	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	4.53	0.60	0.00	0.00	2.17	0.10	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	6.42	0.85	0.00	0.00	3.05	0.14	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	6.12	0.75	0.00	0.00	2.69	0.15	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	13.07	0.00	0.00	0.00	8.23	0.02	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.06	0.52	0.06	0.06	0.06	0.06	0.06	0.06	0.06
Long-Term Debt to Equity	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06
Financial Leverage	0.07	0.06	0.30	0.06	0.06	0.06	0.29	0.06	0.06	0.06
Leverage Ratio	9.08	8.66	8.78	8.46	8.52	7.93	8.15	7.93	8.13	7.95
Compound Leverage Factor	9.08	8.66	8.78	8.46	8.52	7.93	8.15	7.93	8.13	7.95
Debt to Total Capital	6.06%	5.86%	34.40%	5.69%	5.63%	5.54%	5.52%	5.51%	5.46%	5.44%
Short-Term Debt to Total Capital	0.00%	0.00%	30.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	6.06%	5.86%	3.99%	5.69%	5.63%	5.54%	5.52%	5.51%	5.46%	5.44%
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	93.94%	94.14%	65.60%	94.31%	94.37%	94.46%	94.48%	94.49%	94.54%	94.56%
Debt to EBITDA	0.43	0.39	3.19	0.37	0.39	0.44	0.50	0.57	0.64	0.68
Net Debt to EBITDA	-6.97	-2.67	-3.77	-4.42	-5.97	-4.07	-6.37	-8.82	-14.81	-15.82
Long-Term Debt to EBITDA	0.43	0.39	0.37	0.37	0.39	0.44	0.50	0.57	0.64	0.68
Debt to NOPAT	0.66	0.59	4.67	0.53	0.55	0.61	0.71	0.82	0.92	0.98
Net Debt to NOPAT	-10.76	-4.02	-5.52	-6.36	-8.43	-5.72	-9.01	-12.54	-21.20	-22.91
Long-Term Debt to NOPAT	0.66	0.59	0.54	0.53	0.55	0.61	0.71	0.82	0.92	0.98
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)	-0.76	-13	-327	-30	-37	-27	281	-16	-13	-6.36
Operating Cash Flow to CapEx	13,829.06%	18,847.92%	26,511.50%	9,358.05%	2,126.89%	-1,048.28%	1,710.49%	1,609.34%	1,216.74%	14,923.58%
Free Cash Flow to Firm to Interest Expense	-0.36	-3.78	-46.56	-2.51	-2.38	-1.64	16.09	-0.84	-0.61	-0.31
Operating Cash Flow to Interest Expense	7.59	7.86	4.27	2.56	1.09	-0.28	0.42	0.54	0.25	0.77
Operating Cash Flow Less CapEx to Interest Expense	7.53	7.82	4.25	2.53	1.04	-0.30	0.40	0.50	0.23	0.77
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03
Fixed Asset Turnover	18.33	20.06	21.51	21.90	21.16	20.07	19.07	18.01	16.94	17.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	649	672	987	693	701	712	716	719	725	729
Invested Capital Turnover	0.28	0.29	0.25	0.31	0.30	0.28	0.21	0.25	0.24	0.24
Increase / (Decrease) in Invested Capital	19	34	346	47	53	41	-271	26	24	17
Enterprise Value (EV)	-27	428	62	-3.18	-125	196	7.78	-83	-318	-361
Market Capitalization	615	695	463	469	481	565	510	526	598	568
Book Value per Share	$10.05	$10.42	$10.63	$10.72	$10.84	$11.01	$11.06	$11.09	$11.18	$11.25
Tangible Book Value per Share	$7.09	$7.47	$7.70	$7.81	$7.94	$8.13	$8.18	$8.23	$8.33	$8.41
Total Capital	649	672	987	693	701	712	716	719	725	729
Total Debt	39	39	339	39	39	40	40	40	40	40
Total Long-Term Debt	39	39	39	39	39	40	40	40	40	40
Net Debt	-642	-267	-401	-472	-606	-369	-502	-609	-917	-928
Capital Expenditures (CapEx)	0.12	0.14	0.11	0.33	0.79	0.44	0.43	0.65	0.44	0.11
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	39	39	339	39	39	40	40	40	40	40
Total Depreciation and Amortization (D&A)	1.59	0.08	0.04	0.01	0.04	0.18	0.27	0.36	0.70	0.69
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.30	$0.35	$0.31	$0.27	$0.26	$0.22	$0.17	$0.15	$0.17	$0.17
Adjusted Weighted Average Basic Shares Outstanding	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M
Adjusted Diluted Earnings per Share	$0.30	$0.34	$0.31	$0.27	$0.26	$0.21	$0.17	$0.15	$0.17	$0.17
Adjusted Weighted Average Diluted Shares Outstanding	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M
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	60.72M	60.90M	60.97M	61.09M	61.10M	61.17M	61.26M	61.29M	61.30M	61.44M
Normalized Net Operating Profit after Tax (NOPAT)	18	21	19	16	16	13	10	9.23	11	11
Normalized NOPAT Margin	35.55%	38.16%	36.36%	33.91%	33.19%	30.12%	24.12%	22.13%	24.92%	22.90%
Pre Tax Income Margin	51.00%	54.09%	51.11%	47.79%	46.75%	41.73%	34.22%	31.32%	34.27%	31.78%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.15	8.54	3.79	1.92	1.44	1.11	0.83	0.67	0.67	0.72
NOPAT to Interest Expense	8.47	6.02	2.70	1.36	1.02	0.80	0.58	0.47	0.49	0.52
EBIT Less CapEx to Interest Expense	12.10	8.50	3.77	1.89	1.39	1.09	0.80	0.63	0.65	0.72
NOPAT Less CapEx to Interest Expense	8.42	5.98	2.68	1.33	0.97	0.78	0.56	0.44	0.47	0.51
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	52.63%	47.32%	43.47%	42.66%	44.07%	49.25%	57.06%	65.55%	73.63%	78.61%
Augmented Payout Ratio	52.63%	47.32%	43.47%	42.66%	44.07%	49.25%	57.06%	65.55%	73.63%	78.61%

Frequently Asked Questions About Heritage Commerce's Financials

When does Heritage Commerce's financial year end?

According to the most recent income statement we have on file, Heritage Commerce's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Heritage Commerce's net income changed over the last 2 years?

Heritage Commerce's net income appears to be on a downward trend, with a most recent value of $40.53 million in 2024, falling from $66.56 million in 2022. The previous period was $64.44 million in 2023. See where experts think Heritage Commerce is headed by visiting Heritage Commerce's forecast page.

How has Heritage Commerce revenue changed over the last 2 years?

Over the last 2 years, Heritage Commerce's total revenue changed from $189.99 million in 2022 to $172.40 million in 2024, a change of -9.3%.

How much debt does Heritage Commerce have?

Heritage Commerce's total liabilities were at $4.96 billion at the end of 2024, a 9.6% increase from 2023, and a 9.5% increase since 2022.

How much cash does Heritage Commerce have?

In the past 2 years, Heritage Commerce's cash and equivalents has ranged from $27.60 million in 2022 to $41.59 million in 2023, and is currently $29.86 million as of their latest financial filing in 2024.

How has Heritage Commerce's book value per share changed over the last 2 years?

Over the last 2 years, Heritage Commerce's book value per share changed from 10.42 in 2022 to 11.25 in 2024, a change of 8.0%.

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

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Heritage Commerce (HTBK) Financials

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Heritage Commerce (HTBK) Financials

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