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Heritage Commerce (HTBK) Financials

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$13.45 0.00 (0.00%)
As of 07/17/2026
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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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 14 25 24 35 40 35 48 67 64 41 48
Consolidated Net Income / (Loss)		 16 27 24 35 40 35 48 67 64 41 48
Net Income / (Loss) Continuing Operations		 16 27 24 35 40 35 48 67 64 41 48
Total Pre-Tax Income 		27 44 50 49 56 49 66 94 90 57 68
Total Revenue		 85 103 111 132 142 152 156 190 192 172 197
Net Interest Income / (Expense)		 76 91 102 122 132 142 146 180 181 161 185
Total Interest Income		 79 94 107 130 143 150 153 189 232 240 257
Loans and Leases Interest Income		 68 79 86 106 117 133 139 153 178 183 197
Investment Securities Interest Income		 8.89 13 16 17 18 14 10 22 28 22 27
Deposits and Money Market Investments Interest Income		 1.59 2.43 4.59 6.77 7.87 3.76 3.76 14 26 36 33
Total Interest Expense		 2.42 3.21 5.39 7.82 11 8.58 7.13 8.95 51 79 72
Deposits Interest Expense		 2.40 3.20 3.99 5.51 8.16 6.26 4.82 6.77 48 77 69
Short-Term Borrowings Interest Expense		 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.00 1.37 0.00 0.00
Long-Term Debt Interest Expense		 - - 1.39 2.31 2.69 2.32 2.31 2.18 2.15 2.15 2.15
Total Non-Interest Income		 8.99 12 9.61 9.57 10 9.92 9.69 10 11 11 12
Other Service Charges		 5.80 6.86 6.84 3.45 7.49 6.49 5.45 7.00 6.36 5.96 7.31
Net Realized & Unrealized Capital Gains on Investments		 1.49 3.01 1.10 0.96 1.35 1.59 1.73 1.19 0.61 0.69 0.22
Other Non-Interest Income		 1.70 1.75 1.67 5.16 1.40 1.85 2.51 1.93 4.18 4.45 4.57
Provision for Credit Losses		 0.03 1.24 0.10 7.42 0.85 13 -3.13 0.77 0.75 2.14 1.82
Total Non-Interest Expense		 59 58 61 76 85 90 93 95 101 114 128
Salaries and Employee Benefits		 35 33 36 44 51 51 52 55 57 64 67
Net Occupancy & Equipment Expense		 4.30 4.38 4.58 5.41 6.65 8.02 9.04 9.64 9.49 10 9.94
Other Operating Expenses		 19 20 20 26 27 31 32 30 35 39 51
Income Tax Expense		 10 17 26 13 16 14 18 28 26 16 20
Basic Earnings per Share		 $0.48 $0.72 $0.63 $0.85 $0.87 $0.59 $0.79 $1.10 $1.06 $0.66 $0.78
Weighted Average Basic Shares Outstanding		 28.57M 33.93M 38.10M 41.47M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
Diluted Earnings per Share		 $0.48 $0.72 $0.62 $0.84 $0.84 $0.59 $0.79 $1.09 $1.05 $0.66 $0.78
Weighted Average Diluted Shares Outstanding		 28.57M 33.93M 38.10M 41.47M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
Weighted Average Basic & Diluted Shares Outstanding		 28.57M 33.93M 38.10M 41.47M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
Cash Dividends to Common per Share		 $0.32 $0.36 $0.40 $0.44 $0.48 $0.52 $0.52 $0.52 $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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 16 13 10 9.23 11 11 12 6.39 15 15
Consolidated Net Income / (Loss)		 16 16 13 10 9.23 11 11 12 6.39 15 15
Net Income / (Loss) Continuing Operations		 16 16 13 10 9.23 11 11 12 6.39 15 15
Total Pre-Tax Income 		23 22 18 14 13 14 15 16 8.93 21 22
Total Revenue		 48 48 44 42 42 42 46 46 48 50 54
Net Interest Income / (Expense)		 46 45 42 40 39 39 44 43 45 47 50
Total Interest Income		 58 61 59 57 58 61 65 62 63 65 67
Loans and Leases Interest Income		 44 45 45 45 45 46 47 47 49 50 51
Investment Securities Interest Income		 7.22 7.03 6.74 6.41 5.71 4.90 4.69 5.78 6.56 6.35 8.60
Deposits and Money Market Investments Interest Income		 7.09 8.91 7.51 5.95 7.31 10 13 9.35 7.19 8.62 7.74
Total Interest Expense		 12 15 17 17 20 22 20 18 18 18 17
Deposits Interest Expense		 11 15 16 17 19 21 20 18 18 18 16
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 0.54
Total Non-Interest Income		 2.07 2.22 1.94 2.64 2.86 2.83 2.19 2.70 2.98 3.22 3.20
Other Service Charges		 1.37 1.39 1.40 1.35 1.46 1.62 1.53 1.47 1.76 2.07 2.01
Net Realized & Unrealized Capital Gains on Investments		 0.20 0.31 -0.10 0.18 0.30 0.09 0.13 0.10 0.09 0.00 0.03
Other Non-Interest Income		 0.50 0.52 0.64 1.11 1.11 1.12 0.53 1.13 1.13 1.15 1.16
Provision for Credit Losses		 0.26 0.17 0.29 0.18 0.47 0.15 1.33 0.27 0.52 0.42 0.61
Total Non-Interest Expense		 25 25 25 28 28 28 30 29 38 29 31
Salaries and Employee Benefits		 14 14 14 16 16 16 17 17 16 17 17
Net Occupancy & Equipment Expense		 2.42 2.30 2.37 2.44 2.69 2.60 2.50 2.53 2.53 2.53 2.36
Other Operating Expenses		 8.58 8.72 9.21 9.58 9.71 9.28 11 10 20 9.55 12
Income Tax Expense		 6.71 6.45 5.14 4.25 3.84 3.94 4.11 4.70 2.54 5.87 6.85
Basic Earnings per Share		 $0.27 $0.26 $0.22 $0.17 $0.15 $0.17 $0.17 $0.19 $0.10 $0.24 $0.25
Weighted Average Basic Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M
Diluted Earnings per Share		 $0.27 $0.26 $0.21 $0.17 $0.15 $0.17 $0.17 $0.19 $0.10 $0.24 $0.25
Weighted Average Diluted Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M
Weighted Average Basic & Diluted Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 222 -78 50 -152 293 674 175 -1,000 102 560 -321
Net Cash From Operating Activities		 28 26 41 49 50 57 57 70 73 39 62
Net Cash From Continuing Operating Activities		 28 26 41 49 50 57 57 70 73 39 62
Net Income / (Loss) Continuing Operations		 16 27 24 35 40 35 48 67 64 41 48
Consolidated Net Income / (Loss)		 16 27 24 35 40 35 48 67 64 41 48
Provision For Loan Losses		 0.03 1.24 0.10 7.42 0.85 13 -3.13 0.77 0.75 2.14 1.82
Depreciation Expense		 0.69 0.76 0.79 0.75 0.85 0.95 1.07 1.12 1.12 1.34 1.30
Amortization Expense		 2.69 6.31 6.73 7.03 6.80 9.37 8.77 4.44 -0.86 0.67 1.77
Non-Cash Adjustments to Reconcile Net Income		 9.18 7.55 -0.93 -4.75 -0.52 -3.02 -2.60 -1.93 -0.91 -0.56 -0.58
Changes in Operating Assets and Liabilities, net		 -0.60 -17 11 2.79 1.92 1.46 5.04 -1.10 8.48 -5.15 9.54
Net Cash From Investing Activities		 -69 -288 -237 78 271 146 -697 -669 70 111 -432
Net Cash From Continuing Investing Activities		 -69 -288 -237 78 271 146 -697 -669 70 111 -432
Purchase of Property, Leasehold Improvements and Equipment		 -1.01 -0.48 -0.65 -0.19 -0.20 -3.16 -0.25 -0.78 -1.67 -1.62 -0.38
Purchase of Investment Securities		 -342 -458 -345 -199 -9.04 -120 -939 -780 -52 -173 -717
Sale and/or Maturity of Investments		 274 170 109 277 280 270 242 111 124 285 286
Net Cash From Financing Activities		 262 184 246 -278 -29 470 815 -400 -42 410 49
Net Cash From Continuing Financing Activities		 262 184 246 -278 -29 470 815 -400 -42 410 49
Net Change in Deposits		 269 199 221 -262 2.98 500 845 -370 -11 442 83
Repurchase of Common Equity		 - - - - - - - - 0.00 0.00 -4.05
Payment of Dividends		 -11 -14 -15 -18 -23 -31 -31 -31 -32 -32 -32
Other Financing Activities, Net		 0.17 0.94 1.37 2.67 1.38 1.71 1.47 2.05 1.22 0.69 1.65
Cash Interest Paid		 2.43 3.21 5.17 7.53 9.94 8.56 7.01 8.65 47 77 72
Cash Income Taxes Paid		 6.90 17 17 13 18 11 15 25 28 13 21

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 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
Net Change in Cash & Equivalents		 -229 134 -237 133 107 308 12 -223 -23 26 -101
Net Cash From Operating Activities		 31 17 -4.58 7.34 11 5.31 16 15 8.00 19 20
Net Cash From Continuing Operating Activities		 31 17 -4.58 7.34 11 5.31 16 15 8.00 19 20
Net Income / (Loss) Continuing Operations		 16 16 13 10 9.23 11 11 12 6.39 15 15
Consolidated Net Income / (Loss)		 16 16 13 10 9.23 11 11 12 6.39 15 15
Provision For Loan Losses		 0.26 0.17 0.29 0.18 0.47 0.15 1.33 0.27 0.52 0.42 0.61
Depreciation Expense		 0.27 0.28 0.29 0.30 0.33 0.35 0.36 0.35 0.32 0.31 0.33
Amortization Expense		 -0.27 -0.24 -0.11 -0.04 0.03 0.35 0.32 0.13 0.35 0.69 0.60
Non-Cash Adjustments to Reconcile Net Income		 -0.60 1.98 -1.61 0.08 -0.15 0.24 -0.73 -0.39 0.19 -0.15 -0.23
Changes in Operating Assets and Liabilities, net		 15 -1.13 -17 -3.36 0.59 -6.29 3.91 2.85 0.24 2.91 3.54
Net Cash From Investing Activities		 -7.90 50 -28 67 104 26 -87 -94 35 -132 -240
Net Cash From Continuing Investing Activities		 -7.90 50 -28 67 104 26 -87 -94 35 -132 -240
Purchase of Property, Leasehold Improvements and Equipment		 -0.33 -0.79 -0.44 -0.43 -0.65 -0.44 -0.11 0.02 -0.31 0.03 -0.12
Purchase of Investment Securities		 -27 3.05 -65 14 -44 -31 -112 -147 -108 -184 -278
Sale and/or Maturity of Investments		 19 48 37 54 149 57 26 53 142 52 39
Net Cash From Financing Activities		 -251 67 -205 59 -7.96 277 83 -144 -66 139 119
Net Cash From Continuing Financing Activities		 -251 67 -205 59 -7.96 277 83 -144 -66 139 119
Net Change in Deposits		 56 75 -197 66 -0.05 285 90 -137 -56 149 127
Payment of Dividends		 -7.94 -7.94 -7.94 -7.95 -7.97 -7.97 -7.97 -7.99 -8.00 -7.97 -7.97
Other Financing Activities, Net		 0.31 - 0.22 0.39 0.06 0.04 0.21 0.99 0.03 0.18 0.46
Cash Interest Paid		 12 13 17 16 19 21 21 19 19 17 18
Cash Income Taxes Paid		 - 0.01 28 - - 2.65 0.88 - - 3.24 7.38

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,362 2,571 2,843 3,097 4,109 4,634 5,499 5,158 5,194 5,645 5,765
Cash and Due from Banks		 24 28 32 30 49 31 16 28 42 30 22
Interest Bearing Deposits at Other Banks		 320 238 285 134 408 1,100 1,291 279 367 938 625
Trading Account Securities		 502 636 794 836 772 237 105 492 445 259 594
Loans and Leases, Net of Allowance		 1,340 1,484 1,563 1,859 2,511 2,575 0.00 3,251 3,302 3,443 3,603
Loans and Leases		 1,359 1,503 1,583 1,886 2,534 2,619 - 3,299 3,350 3,492 3,653
Allowance for Loan and Lease Losses		 19 19 20 28 23 44 - 48 48 49 50
Premises and Equipment, Net		 7.77 7.49 7.35 7.14 8.25 10 9.64 9.30 9.86 10 9.21
Goodwill		 46 46 46 84 167 168 168 168 168 168 168
Intangible Assets		 8.52 6.95 5.59 12 20 17 14 11 8.63 6.44 4.63
Other Assets		 114 125 112 132 173 496 3,898 920 853 791 739
Total Liabilities & Shareholders' Equity		 2,362 2,571 2,843 3,097 4,109 4,634 5,499 5,158 5,194 5,645 5,765
Total Liabilities		 2,116 2,311 2,572 2,729 3,533 4,056 4,901 4,525 4,521 4,955 5,056
Non-Interest Bearing Deposits		 821 917 990 1,022 1,451 1,662 1,904 1,737 1,292 1,214 1,309
Interest Bearing Deposits		 1,241 1,345 1,493 1,616 1,964 2,253 2,856 2,653 3,086 3,606 3,594
Accrued Interest Payable		 50 49 50 52 78 102 102 96 103 96 113
Long-Term Debt		 - - 39 39 40 40 40 39 40 40 40
Total Equity & Noncontrolling Interests		 245 260 271 367 577 578 598 632 673 690 709
Total Preferred & Common Equity		 245 260 271 367 577 578 598 632 673 690 709
Preferred Stock		 20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 226 260 271 367 577 578 598 632 673 690 709
Common Stock		 193 215 218 301 490 494 498 503 507 510 510
Retained Earnings		 39 53 62 79 97 95 111 146 179 188 204
Accumulated Other Comprehensive Income / (Loss)		 -6.22 -7.91 -9.25 -12 -9.78 -11 -11 -17 -13 -8.11 -4.72

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 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 5,431 5,537 5,312 5,403 5,256 5,263 5,552 5,514 5,467 5,624
Cash and Due from Banks		 41 41 43 40 33 37 50 44 55 42
Interest Bearing Deposits at Other Banks		 641 699 469 605 509 611 907 701 666 705
Trading Account Securities		 481 495 489 458 406 275 239 373 308 410
Loans and Leases, Net of Allowance		 0.00 0.00 3,241 3,238 3,288 3,332 3,362 3,439 3,486 3,532
Loans and Leases		 - - 3,289 3,285 3,336 3,380 3,410 3,487 3,534 3,582
Allowance for Loan and Lease Losses		 - - 48 48 48 48 48 48 49 49
Premises and Equipment, Net		 9.43 9.14 9.20 9.71 9.99 10 10 9.77 9.77 9.43
Goodwill		 168 168 168 168 168 168 168 168 168 168
Intangible Assets		 12 10 9.83 9.23 8.07 7.52 6.97 5.99 5.53 5.08
Other Assets		 4,080 4,115 884 875 834 823 809 774 769 752
Total Liabilities & Shareholders' Equity		 5,431 5,537 5,312 5,403 5,256 5,263 5,552 5,514 5,467 5,624
Total Liabilities		 4,822 4,889 4,658 4,741 4,580 4,584 4,866 4,818 4,773 4,924
Non-Interest Bearing Deposits		 1,884 1,469 1,320 1,244 1,242 1,187 1,272 1,129 1,151 1,242
Interest Bearing Deposits		 2,800 2,975 3,181 3,332 3,203 3,257 3,457 3,555 3,476 3,535
Accrued Interest Payable		 99 105 118 126 96 100 97 95 105 107
Long-Term Debt		 39 39 39 39 40 40 40 40 40 40
Total Equity & Noncontrolling Interests		 610 647 654 662 676 679 685 696 695 700
Total Preferred & Common Equity		 610 647 654 662 676 679 685 696 695 700
Preferred Stock		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 610 647 654 662 676 679 685 696 695 700
Common Stock		 501 504 505 506 508 508 509 512 510 509
Retained Earnings		 133 157 166 174 181 183 185 191 190 197
Accumulated Other Comprehensive Income / (Loss)		 -25 -14 -17 -17 -13 -12 -8.89 -6.81 -4.98 -5.18

Annual Metrics And Ratios for Heritage Commerce

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 32,076,505.00 37,926,537.00 38,200,006.00 43,279,185.00 59,200,262.00 59,914,987.00 60,270,034.00 - - - 61,283,541.00
DEI Adjusted Shares Outstanding		 32,076,505.00 37,926,537.00 38,200,006.00 43,279,185.00 59,200,262.00 59,914,987.00 60,270,034.00 - - - 61,283,541.00
DEI Earnings Per Adjusted Shares Outstanding		 0.51 0.72 0.62 0.82 0.68 0.59 0.79 - - - 0.78
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 31.55% 20.56% 8.06% 18.41% 7.95% 6.87% 2.64% 21.94% 1.17% -10.31% 14.54%
EBITDA Growth		 28.36% 70.27% 13.26% -2.38% 13.33% -7.13% 27.48% 31.98% -9.26% -35.28% 20.74%
EBIT Growth		 26.88% 65.29% 14.40% -3.27% 15.74% -12.86% 34.24% 43.26% -4.18% -37.32% 19.61%
NOPAT Growth		 22.86% 65.98% -12.98% 48.28% 14.52% -12.76% 35.13% 39.53% -3.17% -37.11% 18.02%
Net Income Growth		 22.86% 65.98% -12.98% 48.28% 14.52% -12.76% 35.13% 39.53% -3.17% -37.11% 18.02%
EPS Growth		 14.29% 50.00% -13.89% 35.48% 0.00% -29.76% 33.90% 37.97% -3.67% -37.14% 18.18%
Operating Cash Flow Growth		 47.00% -9.11% 59.69% 17.44% 3.65% 13.81% -0.78% 22.87% 4.52% -46.62% 58.26%
Free Cash Flow Firm Growth		 -2,030.26% 133.56% -267.50% -128.40% -177.16% 120.24% -20.09% 19.46% -27.08% -1.24% 22.45%
Invested Capital Growth		 34.76% 4.59% 19.46% 31.06% 51.56% 0.17% 3.29% 5.31% 6.04% 2.38% 2.60%
Revenue Q/Q Growth		 9.03% 1.18% 2.63% 5.15% 4.54% -2.32% 1.90% 7.71% -5.07% 1.25% 3.81%
EBITDA Q/Q Growth		 7.10% 11.83% 3.93% 8.33% -13.45% 21.16% 1.52% 8.45% -10.75% -5.20% 11.81%
EBIT Q/Q Growth		 6.57% 11.15% 4.86% 9.93% -15.84% 25.72% 2.32% 12.09% -10.87% -6.17% 11.95%
NOPAT Q/Q Growth		 5.24% 11.35% -20.00% 51.27% -15.72% 20.22% 5.16% 11.44% -10.39% -6.26% 10.38%
Net Income Q/Q Growth		 5.24% 11.35% -20.00% 51.27% -15.72% 20.22% 5.16% 11.44% -10.39% -6.26% 10.38%
EPS Q/Q Growth		 0.00% 12.50% -19.48% 47.37% -24.32% 34.09% 3.95% 12.37% -11.02% -5.71% 11.43%
Operating Cash Flow Q/Q Growth		 21.15% -15.61% 12.29% 6.02% 4.24% 9.57% -7.52% 16.12% -30.29% 109.85% 7.22%
Free Cash Flow Firm Q/Q Growth		 5.56% 30.39% -13.91% 97.86% -106.03% 122.35% -16.69% -20.02% 23.24% 19.79% 1.10%
Invested Capital Q/Q Growth		 -0.22% -0.56% -1.32% -87.26% 41.79% 0.02% 1.26% 3.54% 1.57% 0.61% 1.16%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 35.14% 49.63% 52.02% 42.88% 45.02% 39.12% 48.59% 52.59% 47.17% 34.04% 35.89%
EBIT Margin		 31.18% 42.75% 45.26% 36.97% 39.64% 32.32% 42.28% 49.67% 47.04% 32.87% 34.33%
Profit (Net Income) Margin		 19.34% 26.62% 21.44% 26.85% 28.48% 23.25% 30.61% 35.03% 33.53% 23.51% 24.22%
Tax Burden Percent		 62.02% 62.27% 47.37% 72.62% 71.85% 71.94% 72.42% 70.53% 71.27% 71.51% 70.56%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 37.98% 37.73% 52.63% 27.38% 28.15% 28.06% 27.58% 29.47% 28.73% 28.49% 29.44%
Return on Invested Capital (ROIC)		 7.62% 10.77% 8.36% 9.85% 7.91% 5.72% 7.60% 10.16% 9.31% 5.62% 6.47%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.62% 10.77% 8.36% 9.85% 7.91% 5.72% 7.60% 10.16% 9.31% 5.62% 6.47%
Return on Net Nonoperating Assets (RNNOA)		 0.05% 0.06% 0.62% 1.21% 0.66% 0.39% 0.51% 0.65% 0.56% 0.33% 0.37%
Return on Equity (ROE)		 7.68% 10.84% 8.97% 11.06% 8.57% 6.11% 8.11% 10.82% 9.87% 5.95% 6.84%
Cash Return on Invested Capital (CROIC)		 -21.99% 6.28% -9.38% -17.03% -33.08% 5.55% 4.36% 4.99% 3.45% 3.27% 3.90%
Operating Return on Assets (OROA)		 1.34% 1.78% 1.86% 1.64% 1.56% 1.12% 1.30% 1.77% 1.75% 1.05% 1.19%
Return on Assets (ROA)		 0.83% 1.11% 0.88% 1.19% 1.12% 0.81% 0.94% 1.25% 1.25% 0.75% 0.84%
Return on Common Equity (ROCE)		 6.98% 10.42% 8.97% 11.06% 8.57% 6.11% 8.11% 10.82% 9.87% 5.95% 6.84%
Return on Equity Simple (ROE_SIMPLE)		 6.72% 10.54% 8.78% 9.61% 7.02% 6.11% 7.98% 10.52% 9.58% 5.88% 6.75%
Net Operating Profit after Tax (NOPAT)		 16 27 24 35 40 35 48 67 64 41 48
NOPAT Margin		 19.34% 26.62% 21.44% 26.85% 28.48% 23.25% 30.61% 35.03% 33.53% 23.51% 24.22%
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% 0.00%
SG&A Expenses to Revenue		 46.24% 36.72% 36.26% 37.37% 40.41% 38.83% 39.09% 34.20% 34.52% 43.03% 38.73%
Operating Expenses to Revenue		 68.78% 56.04% 54.65% 57.39% 59.76% 58.96% 59.74% 49.93% 52.57% 65.88% 64.75%
Earnings before Interest and Taxes (EBIT)		 27 44 50 49 56 49 66 94 90 57 68
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 30 51 58 56 64 59 76 100 91 59 71
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.15 1.48 1.56 0.99 1.02 0.76 1.04 1.10 0.84 0.82 1.03
Price to Tangible Book Value (P/TBV)		 1.52 1.86 1.92 1.34 1.51 1.12 1.49 1.53 1.14 1.10 1.36
Price to Revenue (P/Rev)		 3.05 3.74 3.81 2.78 4.14 2.89 4.00 3.66 2.94 3.29 3.69
Price to Earnings (P/E)		 18.89 15.66 17.77 10.34 14.53 12.43 13.05 10.44 8.77 14.00 15.24
Dividend Yield		 3.94% 3.55% 3.61% 5.21% 4.83% 7.10% 5.03% 4.54% 5.62% 5.62% 4.37%
Earnings Yield		 5.29% 6.39% 5.63% 9.67% 6.88% 8.04% 7.66% 9.58% 11.41% 7.14% 6.56%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.46 0.47 0.59 0.28 0.00 0.00 0.64 0.28 0.00 0.16
Enterprise Value to Revenue (EV/Rev)		 0.00 1.16 1.32 1.83 1.20 0.00 0.00 2.25 1.02 0.00 0.62
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 2.33 2.53 4.26 2.66 0.00 0.00 4.28 2.17 0.00 1.72
Enterprise Value to EBIT (EV/EBIT)		 0.00 2.71 2.91 4.94 3.02 0.00 0.00 4.53 2.17 0.00 1.79
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 4.34 6.14 6.80 4.21 0.00 0.00 6.42 3.05 0.00 2.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 4.59 3.54 4.94 3.38 0.00 0.00 6.12 2.69 0.00 1.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 7.45 0.00 0.00 0.00 0.00 0.00 13.07 8.23 0.00 4.22
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.00 0.14 0.11 0.07 0.07 0.07 0.06 0.06 0.06 0.06
Long-Term Debt to Equity		 0.00 0.00 0.14 0.11 0.07 0.07 0.07 0.06 0.06 0.06 0.06
Financial Leverage		 0.01 0.01 0.07 0.12 0.08 0.07 0.07 0.06 0.06 0.06 0.06
Leverage Ratio		 9.26 9.76 10.19 9.30 7.63 7.57 8.62 8.66 7.93 7.95 8.16
Compound Leverage Factor		 9.26 9.76 10.19 9.30 7.63 7.57 8.62 8.66 7.93 7.95 8.16
Debt to Total Capital		 1.21% 0.00% 12.62% 9.68% 6.47% 6.43% 6.26% 5.86% 5.54% 5.44% 5.32%
Short-Term Debt to Total Capital		 1.21% 0.00% 0.00% 0.00% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 12.62% 9.68% 6.42% 6.43% 6.26% 5.86% 5.54% 5.44% 5.32%
Preferred Equity to Total Capital		 7.86% 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% 0.00%
Common Equity to Total Capital		 90.94% 100.00% 87.38% 90.32% 93.53% 93.57% 93.74% 94.14% 94.46% 94.56% 94.68%
Debt to EBITDA		 0.10 0.00 0.68 0.70 0.62 0.67 0.53 0.39 0.44 0.68 0.56
Net Debt to EBITDA		 -11.38 0.00 -4.79 -2.22 -6.53 -18.38 -16.73 -2.67 -4.07 -15.82 -8.57
Long-Term Debt to EBITDA		 0.00 0.00 0.68 0.70 0.62 0.67 0.53 0.39 0.44 0.68 0.56
Debt to NOPAT		 0.18 0.00 1.64 1.11 0.99 1.13 0.84 0.59 0.61 0.98 0.83
Net Debt to NOPAT		 -20.68 0.00 -11.63 -3.54 -10.32 -30.92 -26.55 -4.02 -5.72 -22.91 -12.70
Long-Term Debt to NOPAT		 0.00 0.00 1.64 1.11 0.98 1.13 0.84 0.59 0.61 0.98 0.83
Noncontrolling Interest Sharing Ratio		 9.08% 3.86% 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)		 -48 16 -27 -61 -169 34 27 33 24 24 29
Operating Cash Flow to CapEx		 2,829.59% 5,395.63% 6,372.57% 25,974.33% 24,799.51% 1,813.13% 22,559.13% 8,921.20% 4,369.24% 2,399.69% 16,359.42%
Free Cash Flow to Firm to Interest Expense		 -19.65 4.97 -4.96 -7.81 -15.61 3.99 3.84 3.65 0.47 0.30 0.40
Operating Cash Flow to Interest Expense		 11.76 8.07 7.68 6.21 4.64 6.68 7.97 7.81 1.43 0.49 0.86
Operating Cash Flow Less CapEx to Interest Expense		 11.35 7.92 7.56 6.19 4.62 6.31 7.94 7.72 1.40 0.47 0.86
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.03 0.03 0.04 0.04 0.03 0.03
Fixed Asset Turnover		 11.21 13.48 14.97 18.16 18.46 16.23 15.51 20.06 20.07 17.24 20.41
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 248 260 310 407 617 618 638 672 712 729 748
Invested Capital Turnover		 0.39 0.40 0.39 0.37 0.28 0.25 0.25 0.29 0.28 0.24 0.27
Increase / (Decrease) in Invested Capital		 64 11 51 96 210 1.04 20 34 41 17 19
Enterprise Value (EV)		 -61 119 146 240 170 -652 -644 428 196 -361 122
Market Capitalization		 261 385 423 365 588 439 623 695 565 568 729
Book Value per Share		 $7.04 $6.85 $7.10 $8.49 $9.74 $9.65 $9.92 $10.42 $11.01 $11.25 $11.56
Tangible Book Value per Share		 $5.35 $5.46 $5.76 $6.28 $6.57 $6.57 $6.91 $7.47 $8.13 $8.41 $8.75
Total Capital		 248 260 310 407 617 618 638 672 712 729 748
Total Debt		 3.00 0.00 39 39 40 40 40 39 40 40 40
Total Long-Term Debt		 0.00 0.00 39 39 40 40 40 39 40 40 40
Net Debt		 -341 -266 -277 -125 -417 -1,091 -1,266 -267 -369 -928 -607
Capital Expenditures (CapEx)		 1.01 0.48 0.65 0.19 0.20 3.16 0.25 0.78 1.67 1.62 0.38
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 3.00 0.00 39 39 40 40 40 39 40 40 40
Total Depreciation and Amortization (D&A)		 3.38 7.08 7.51 7.78 7.64 10 9.84 5.56 0.26 2.01 3.07
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.48 $0.72 $0.63 $0.85 $0.87 $0.59 $0.79 $1.10 $1.06 $0.66 $0.78
Adjusted Weighted Average Basic Shares Outstanding		 32.12M 37.94M 38.27M 43.30M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
Adjusted Diluted Earnings per Share		 $0.48 $0.72 $0.62 $0.84 $0.84 $0.59 $0.79 $1.09 $1.05 $0.66 $0.78
Adjusted Weighted Average Diluted Shares Outstanding		 32.12M 37.94M 38.27M 43.30M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.12M 37.94M 38.27M 43.30M 59.55M 59.92M 60.37M 60.90M 61.17M 61.44M 61.59M
Normalized Net Operating Profit after Tax (NOPAT)		 16 27 35 35 40 35 48 67 64 41 48
Normalized NOPAT Margin		 19.34% 26.62% 31.68% 26.85% 28.48% 23.25% 30.61% 35.03% 33.53% 23.51% 24.22%
Pre Tax Income Margin		 31.18% 42.75% 45.26% 36.97% 39.64% 32.32% 42.28% 49.67% 47.04% 32.87% 34.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 10.98 13.69 9.34 6.22 5.19 5.72 9.24 10.55 1.77 0.72 0.95
NOPAT to Interest Expense		 6.81 8.53 4.42 4.52 3.73 4.11 6.69 7.44 1.26 0.51 0.67
EBIT Less CapEx to Interest Expense		 10.57 13.54 9.22 6.20 5.17 5.35 9.20 10.46 1.74 0.70 0.94
NOPAT Less CapEx to Interest Expense		 6.40 8.38 4.30 4.49 3.71 3.75 6.65 7.35 1.23 0.49 0.66
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 65.09% 49.77% 63.95% 52.26% 56.16% 88.05% 65.56% 47.32% 49.25% 78.61% 66.73%
Augmented Payout Ratio		 65.09% 49.77% 63.95% 52.26% 56.16% 88.05% 65.56% 47.32% 49.25% 78.61% 75.20%

Quarterly Metrics And Ratios for Heritage Commerce

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025
DEI Shares Outstanding		 - - - - - - - 61,442,934.00 61,595,516.00 61,446,763.00 61,283,541.00
DEI Adjusted Shares Outstanding		 - - - - - - - 61,442,934.00 61,595,516.00 61,446,763.00 61,283,541.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - 0.19 0.10 0.24 0.25
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.98% -6.36% -18.84% -19.00% -13.72% -11.42% 4.81% 9.29% 14.50% 18.62% 15.64%
EBITDA Growth		 1.98% -18.99% -36.95% -44.85% -41.90% -32.03% -17.26% 14.42% -28.56% 42.32% 48.52%
EBIT Growth		 10.24% -14.15% -37.38% -45.77% -43.45% -35.07% -20.19% 13.22% -31.68% 42.33% 49.09%
NOPAT Growth		 10.67% -12.59% -35.92% -46.26% -43.71% -33.48% -20.31% 14.36% -30.81% 39.89% 42.33%
Net Income Growth		 10.67% -12.59% -35.92% -46.26% -43.71% -33.48% -20.31% 14.36% -30.81% 39.89% 42.33%
EPS Growth		 12.50% -13.33% -38.24% -45.16% -44.44% -34.62% -19.05% 11.76% -33.33% 41.18% 47.06%
Operating Cash Flow Growth		 215.81% 4.11% -116.88% -75.51% -65.87% -68.51% 445.32% 102.13% -23.84% 255.65% 26.25%
Free Cash Flow Firm Growth		 -259.41% -4,712.70% -108.89% 186.01% 45.53% 64.46% 76.69% -103.00% 43.66% 99.14% 39.05%
Invested Capital Growth		 7.21% 8.10% 6.04% -27.44% 3.71% 3.36% 2.38% 2.80% 2.18% 2.04% 2.60%
Revenue Q/Q Growth		 -7.03% -1.61% -7.03% -4.75% -0.97% 1.02% 10.00% -0.68% 3.75% 4.65% 7.23%
EBITDA Q/Q Growth		 -13.16% -3.61% -16.36% -21.22% -8.53% 12.77% 1.81% 8.95% -42.89% 124.66% 6.25%
EBIT Q/Q Growth		 -13.07% -3.75% -17.02% -21.90% -9.35% 10.52% 1.99% 10.80% -45.30% 130.24% 6.84%
NOPAT Q/Q Growth		 -13.29% -3.71% -15.62% -23.72% -9.17% 13.79% 1.09% 9.46% -45.05% 130.05% 2.85%
Net Income Q/Q Growth		 -13.29% -3.71% -15.62% -23.72% -9.17% 13.79% 1.09% 9.46% -45.05% 130.05% 2.85%
EPS Q/Q Growth		 -12.90% -3.70% -19.23% -19.05% -11.76% 13.33% 0.00% 11.76% -47.37% 140.00% 4.17%
Operating Cash Flow Q/Q Growth		 2.77% -45.29% -127.20% 260.18% 43.21% -49.52% 198.19% -6.24% -46.04% 135.72% 5.86%
Free Cash Flow Firm Q/Q Growth		 90.76% -21.78% 25.84% 1,130.20% -105.85% 20.55% 51.36% -32.47% -10.06% 98.79% -3,358.93%
Invested Capital Q/Q Growth		 -29.75% 1.20% 1.57% 0.48% 0.41% 0.86% 0.61% 0.89% -0.20% 0.73% 1.16%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 47.80% 46.83% 42.13% 34.85% 32.19% 35.93% 33.26% 36.48% 20.08% 43.11% 42.72%
EBIT Margin		 47.79% 46.75% 41.73% 34.22% 31.32% 34.27% 31.78% 35.45% 18.69% 41.12% 40.97%
Profit (Net Income) Margin		 33.91% 33.19% 30.12% 24.12% 22.13% 24.92% 22.90% 25.24% 13.37% 29.39% 28.19%
Tax Burden Percent		 70.96% 70.99% 72.19% 70.50% 70.64% 72.73% 72.08% 71.21% 71.54% 71.48% 68.81%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 29.04% 29.01% 27.81% 29.50% 29.36% 27.27% 27.92% 28.79% 28.46% 28.52% 31.19%
Return on Invested Capital (ROIC)		 10.42% 9.96% 8.37% 5.17% 5.51% 5.95% 5.48% 6.13% 3.36% 7.63% 7.53%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.42% 9.96% 8.37% 5.17% 5.51% 5.95% 5.48% 6.13% 3.36% 7.63% 7.53%
Return on Net Nonoperating Assets (RNNOA)		 0.65% 0.62% 0.51% 1.48% 0.33% 0.35% 0.32% 0.35% 0.19% 0.44% 0.43%
Return on Equity (ROE)		 11.07% 10.57% 8.87% 6.65% 5.83% 6.30% 5.80% 6.49% 3.55% 8.07% 7.96%
Cash Return on Invested Capital (CROIC)		 4.12% 2.87% 3.45% 38.35% 3.24% 2.76% 3.27% 3.02% 3.23% 3.89% 3.90%
Operating Return on Assets (OROA)		 1.84% 1.75% 1.55% 1.16% 1.04% 1.07% 1.01% 1.16% 0.64% 1.40% 1.42%
Return on Assets (ROA)		 1.31% 1.24% 1.12% 0.82% 0.74% 0.77% 0.73% 0.83% 0.45% 1.00% 0.98%
Return on Common Equity (ROCE)		 11.07% 10.57% 8.87% 6.65% 5.83% 6.30% 5.80% 6.49% 3.55% 8.07% 7.96%
Return on Equity Simple (ROE_SIMPLE)		 11.35% 10.86% 0.00% 8.23% 7.14% 6.31% 0.00% 6.03% 5.63% 6.19% 0.00%
Net Operating Profit after Tax (NOPAT)		 16 16 13 10 9.23 11 11 12 6.39 15 15
NOPAT Margin		 33.91% 33.19% 30.12% 24.12% 22.13% 24.92% 22.90% 25.24% 13.37% 29.39% 28.19%
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% 0.00%
SG&A Expenses to Revenue		 33.93% 34.56% 36.81% 42.60% 44.29% 43.34% 41.99% 41.49% 39.24% 38.95% 35.70%
Operating Expenses to Revenue		 51.67% 52.89% 57.62% 65.34% 67.55% 65.37% 65.35% 63.96% 80.23% 58.05% 57.89%
Earnings before Interest and Taxes (EBIT)		 23 22 18 14 13 14 15 16 8.93 21 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 22 19 15 13 15 15 17 9.60 22 23
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.72 0.73 0.84 0.75 0.77 0.87 0.82 0.84 0.87 0.86 1.03
Price to Tangible Book Value (P/TBV)		 0.98 0.99 1.14 1.02 1.04 1.17 1.10 1.12 1.16 1.14 1.36
Price to Revenue (P/Rev)		 2.28 2.38 2.94 2.79 2.99 3.51 3.29 3.32 3.31 3.17 3.69
Price to Earnings (P/E)		 6.32 6.70 8.77 9.15 10.83 13.84 14.00 13.93 15.41 13.91 15.24
Dividend Yield		 6.76% 6.60% 5.62% 6.24% 6.06% 5.33% 5.62% 5.46% 5.31% 5.30% 4.37%
Earnings Yield		 15.82% 14.94% 11.41% 10.93% 9.23% 7.23% 7.14% 7.18% 6.49% 7.19% 6.56%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.28 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.16
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 1.02 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.62
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 2.17 0.10 0.00 0.00 0.00 0.00 0.00 0.00 1.72
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 2.17 0.10 0.00 0.00 0.00 0.00 0.00 0.00 1.79
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 3.05 0.14 0.00 0.00 0.00 0.00 0.00 0.00 2.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 2.69 0.15 0.00 0.00 0.00 0.00 0.00 0.00 1.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 8.23 0.02 0.00 0.00 0.00 0.00 0.00 0.00 4.22
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.06 0.06 0.06 0.06 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 0.06
Financial Leverage		 0.06 0.06 0.06 0.29 0.06 0.06 0.06 0.06 0.06 0.06 0.06
Leverage Ratio		 8.46 8.52 7.93 8.15 7.93 8.13 7.95 7.85 7.81 8.07 8.16
Compound Leverage Factor		 8.46 8.52 7.93 8.15 7.93 8.13 7.95 7.85 7.81 8.07 8.16
Debt to Total Capital		 5.69% 5.63% 5.54% 5.52% 5.51% 5.46% 5.44% 5.39% 5.41% 5.38% 5.32%
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% 0.00%
Long-Term Debt to Total Capital		 5.69% 5.63% 5.54% 5.52% 5.51% 5.46% 5.44% 5.39% 5.41% 5.38% 5.32%
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% 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% 0.00%
Common Equity to Total Capital		 94.31% 94.37% 94.46% 94.48% 94.49% 94.54% 94.56% 94.61% 94.59% 94.62% 94.68%
Debt to EBITDA		 0.37 0.39 0.44 0.50 0.57 0.64 0.68 0.65 0.70 0.63 0.56
Net Debt to EBITDA		 -4.42 -5.97 -4.07 -6.37 -8.82 -14.81 -15.82 -11.60 -11.97 -11.17 -8.57
Long-Term Debt to EBITDA		 0.37 0.39 0.44 0.50 0.57 0.64 0.68 0.65 0.70 0.63 0.56
Debt to NOPAT		 0.53 0.55 0.61 0.71 0.82 0.92 0.98 0.95 1.01 0.92 0.83
Net Debt to NOPAT		 -6.36 -8.43 -5.72 -9.01 -12.54 -21.20 -22.91 -16.80 -17.42 -16.34 -12.70
Long-Term Debt to NOPAT		 0.53 0.55 0.61 0.71 0.82 0.92 0.98 0.95 1.01 0.92 0.83
Noncontrolling Interest Sharing Ratio		 0.00% 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)		 -30 -37 -27 281 -16 -13 -6.36 -8.42 -9.27 -0.11 -3.87
Operating Cash Flow to CapEx		 9,358.05% 2,126.89% -1,048.28% 1,710.49% 1,609.34% 1,216.74% 14,923.58% 0.00% 2,607.17% 0.00% 16,783.19%
Free Cash Flow to Firm to Interest Expense		 -2.51 -2.38 -1.64 16.09 -0.84 -0.61 -0.31 -0.46 -0.51 -0.01 -0.23
Operating Cash Flow to Interest Expense		 2.56 1.09 -0.28 0.42 0.54 0.25 0.77 0.80 0.44 1.03 1.20
Operating Cash Flow Less CapEx to Interest Expense		 2.53 1.04 -0.30 0.40 0.50 0.23 0.77 0.80 0.42 1.03 1.19
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 21.90 21.16 20.07 19.07 18.01 16.94 17.24 17.85 18.17 19.19 20.41
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 693 701 712 716 719 725 729 736 734 740 748
Invested Capital Turnover		 0.31 0.30 0.28 0.21 0.25 0.24 0.24 0.24 0.25 0.26 0.27
Increase / (Decrease) in Invested Capital		 47 53 41 -271 26 24 17 20 16 15 19
Enterprise Value (EV)		 -3.18 -125 196 7.78 -83 -318 -361 -120 -79 -105 122
Market Capitalization		 469 481 565 510 526 598 568 585 603 603 729
Book Value per Share		 $10.72 $10.84 $11.01 $11.06 $11.09 $11.18 $11.25 $11.33 $11.28 $11.39 $11.56
Tangible Book Value per Share		 $7.81 $7.94 $8.13 $8.18 $8.23 $8.33 $8.41 $8.51 $8.47 $8.58 $8.75
Total Capital		 693 701 712 716 719 725 729 736 734 740 748
Total Debt		 39 39 40 40 40 40 40 40 40 40 40
Total Long-Term Debt		 39 39 40 40 40 40 40 40 40 40 40
Net Debt		 -472 -606 -369 -502 -609 -917 -928 -705 -682 -708 -607
Capital Expenditures (CapEx)		 0.33 0.79 0.44 0.43 0.65 0.44 0.11 -0.02 0.31 -0.03 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 0.00
Net Nonoperating Obligations (NNO)		 39 39 40 40 40 40 40 40 40 40 40
Total Depreciation and Amortization (D&A)		 0.01 0.04 0.18 0.27 0.36 0.70 0.69 0.48 0.67 1.00 0.94
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.27 $0.26 $0.22 $0.17 $0.15 $0.17 $0.17 $0.19 $0.10 $0.24 $0.25
Adjusted Weighted Average Basic Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M
Adjusted Diluted Earnings per Share		 $0.27 $0.26 $0.21 $0.17 $0.15 $0.17 $0.17 $0.19 $0.10 $0.24 $0.25
Adjusted Weighted Average Diluted Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 61.09M 61.10M 61.17M 61.26M 61.29M 61.30M 61.44M 61.60M 61.45M 61.28M 61.59M
Normalized Net Operating Profit after Tax (NOPAT)		 16 16 13 10 9.23 11 11 12 6.39 15 15
Normalized NOPAT Margin		 33.91% 33.19% 30.12% 24.12% 22.13% 24.92% 22.90% 25.24% 13.37% 29.39% 28.19%
Pre Tax Income Margin		 47.79% 46.75% 41.73% 34.22% 31.32% 34.27% 31.78% 35.45% 18.69% 41.12% 40.97%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.92 1.44 1.11 0.83 0.67 0.67 0.72 0.88 0.49 1.12 1.32
NOPAT to Interest Expense		 1.36 1.02 0.80 0.58 0.47 0.49 0.52 0.63 0.35 0.80 0.91
EBIT Less CapEx to Interest Expense		 1.89 1.39 1.09 0.80 0.63 0.65 0.72 0.89 0.47 1.12 1.31
NOPAT Less CapEx to Interest Expense		 1.33 0.97 0.78 0.56 0.44 0.47 0.51 0.63 0.33 0.80 0.90
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 42.66% 44.07% 49.25% 57.06% 65.55% 73.63% 78.61% 75.96% 81.55% 73.66% 66.73%
Augmented Payout Ratio		 42.66% 44.07% 49.25% 57.06% 65.55% 73.63% 78.61% 75.96% 81.55% 73.66% 75.20%

Financials Breakdown Chart

Key Financial Trends

Heritage Commerce (NASDAQ: HTBK) ended Q4 2025 with a mixed but generally resilient picture: earnings improved sharply year over year, operating cash flow remained healthy, and the balance sheet still shows a solid equity base. That said, the quarter also featured a large cash outflow, driven mainly by heavy investment purchases, and the bank continues to operate with fairly thin earnings relative to its asset base.

  • Q4 2025 net income jumped to $15.1 million, up from $10.6 million in Q4 2024, showing stronger profitability year over year.
  • Net interest income improved to $50.4 million from $44.2 million a year earlier, helped by higher interest income and better spread performance.
  • Total revenue rose to $53.6 million versus $46.4 million in the prior-year quarter, reflecting stronger core banking revenue.
  • Operating cash flow was solid at $20.0 million in Q4 2025, indicating the business is still generating cash from operations.
  • Quarter-end common equity was $700.0 million, slightly above Q2 2025 and comfortably supporting the bank’s asset base.
  • Allowance for loan losses increased to $49.4 million from $48.6 million in Q2 2025, suggesting continued reserve support.
  • Loan growth was modest, with net loans rising to $3.53 billion in Q3 2025 from $3.49 billion in Q2 2025, pointing to only gradual balance sheet expansion.
  • Deposit levels increased quarter over quarter, but the bank’s funding mix still appears sensitive to swings in interest-bearing deposits and pricing pressure.
  • Net cash and equivalents declined by $100.7 million in Q4 2025, largely due to investing activity.
  • Investing cash outflows were very large at $239.7 million, driven by $278.3 million of investment security purchases, which can pressure near-term liquidity.

Looking at the last several years, Heritage Commerce has generally delivered steady quarterly profitability, but the trend has not been especially fast-growing. Earnings in 2025 were better than in 2024 in several quarters, and revenue held up well, yet the bank’s operating leverage remains limited because non-interest expenses continue to absorb a large share of revenue.

On the balance sheet, the company remains reasonably well capitalized, with equity hovering around $695 million to $700 million in 2025. However, total assets have been relatively flat to modestly higher over time, and the bank’s cash and investment activity can create noticeable quarterly swings in liquidity.

For retail investors, the key takeaway is that HTBK looks like a stable, income-producing regional bank with decent profitability and recurring dividends, but not a high-growth story. The stock’s long-term appeal will likely depend on whether management can keep improving net interest income while controlling expenses and maintaining credit quality.

07/21/26 01:06 AM ETAI Generated. May Contain Errors.

Heritage Commerce Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Heritage Commerce's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Heritage Commerce's net income appears to be on an upward trend, with a most recent value of $47.83 million in 2025, rising from $16.50 million in 2015. The previous period was $40.53 million in 2024. Check out Heritage Commerce's forecast to explore projected trends and price targets.

Over the last 10 years, Heritage Commerce's total revenue changed from $85.31 million in 2015 to $197.46 million in 2025, a change of 131.5%.

Heritage Commerce's total liabilities were at $5.06 billion at the end of 2025, a 2.0% increase from 2024, and a 138.9% increase since 2015.

In the past 10 years, Heritage Commerce's cash and equivalents has ranged from $15.70 million in 2021 to $49.45 million in 2019, and is currently $21.68 million as of their latest financial filing in 2025.

Over the last 10 years, Heritage Commerce's book value per share changed from 7.04 in 2015 to 11.56 in 2025, a change of 64.2%.


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Financial statements for NASDAQ:HTBK last updated on 4/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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