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Heritage Commerce (HTBK) Financials

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$9.25 -0.04 (-0.42%)
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Annual Income Statements for Heritage Commerce

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

Quarterly Income Statements for Heritage Commerce

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

Annual Cash Flow Statements for Heritage Commerce

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

Quarterly Cash Flow Statements for Heritage Commerce

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

Annual Balance Sheets for Heritage Commerce

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

Quarterly Balance Sheets for Heritage Commerce

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

Annual Metrics And Ratios for Heritage Commerce

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

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

Quarterly Metrics And Ratios for Heritage Commerce

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

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. Check out Heritage Commerce's forecast to explore projected trends and price targets.

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 5/30/2025 by MarketBeat.com Staff
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