Demonstrações financeiras detalhadas de Heritage Financial Corporation (HFWA): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Heritage Financial Corporation registou receitas de $336.0M no último exercício, com um CAGR de 5 anos de 6.0%. O lucro líquido atingiu $67.5M, com CAGR de 5 anos de 7.7%.
Margens dos últimos 12 meses: margem bruta 74.6%, margem operacional 14.0%, margem líquida 23.2%. O fluxo de caixa livre cresceu a CAGR de 6.2% em 5 anos.
Ao preço atual de $28.01, HFWA negocia a um P/L de 13.21 e um ROE de 7.69%. A capitalização de mercado é de $1.2B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $170.1M | $183.3M | $231.0M | $250.3M | $251.5M | $247.4M | $257.0M | $303.1M | $317.2M | $336.0M |
| Custo da Receita | $10.9M | $12.6M | $17.5M | $22.5M | $49.4M | -$22.3M | $6.6M | $63.6M | $106.6M | $92.6M |
| Lucro Bruto | $159.2M | $170.7M | $213.5M | $227.8M | $202.1M | $269.8M | $250.4M | $239.5M | $210.6M | $243.4M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $73.2M | $76.8M | $101.4M | $104.8M | $93.0M | $93.0M | $95.8M | $105.3M | $102.8M | $121.1M |
| Despesas Operacionais | $106.5M | $110.6M | $149.2M | $146.8M | $148.9M | $149.3M | $151.0M | $166.6M | $158.3M | $165.6M |
| Lucro Operacional | $52.7M | $60.1M | $64.3M | $81.0M | $53.2M | $120.5M | $99.4M | $72.9M | $52.3M | $77.8M |
| EBITDA | $66.8M | $72.1M | $85.7M | $99.2M | $53.1M | $101.9M | $102.5M | $78.5M | $55.5M | $79.6M |
| Despesas com Juros | $6.0M | $8.3M | $12.4M | $18.2M | $13.3M | $7.0M | $8.1M | $59.3M | $100.3M | $89.8M |
| Lucro Antes de Impostos | $52.7M | $60.1M | $64.3M | $81.0M | $53.2M | $120.5M | $99.4M | $72.9M | $52.3M | $78.6M |
| Imposto | $13.8M | $18.4M | $11.2M | $13.5M | $6.6M | $22.5M | $17.6M | $11.2M | $9.0M | $11.1M |
| Lucro Líquido | $38.9M | $41.8M | $53.1M | $67.6M | $46.6M | $98.0M | $81.9M | $61.8M | $43.3M | $67.5M |
| LPA | $1.30 | $1.29 | $1.49 | $1.84 | $1.29 | $2.75 | $2.33 | $1.75 | $1.26 | $1.99 |
| LPA Diluído | $1.30 | $1.29 | $1.50 | $1.83 | $1.29 | $2.73 | $2.31 | $1.75 | $1.24 | $1.96 |
| Ações em Circulação (Diluídas) | $29.7M | $29.8M | $35.4M | $37.0M | $36.2M | $36.0M | $35.5M | $35.3M | $34.9M | $34.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $87.8M | $86.8M | $99.4M | $62.2M |
| Lucro Bruto | $63.9M | $66.3M | $78.9M | $41.8M |
| Lucro Operacional | $22.3M | $24.9M | $22.4M | -$22.4M |
| EBITDA | $22.6M | $25.1M | $23.4M | -$22.4M |
| Lucro Líquido | $19.2M | $22.2M | $18.9M | $17.5M |
| LPA | $0.56 | $0.65 | $0.49 | $0.42 |
| LPA Diluído | $0.56 | $0.65 | $0.48 | $0.42 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $103.7M | $103.0M | $161.9M | $228.6M | $743.3M | $1.72B | $103.6M | $225.0M | $117.1M | $52.6M |
| Investimentos de Curto Prazo | $794.6M | $810.5M | $976.1M | $952.3M | $802.2M | $894.3M | $1.33B | $1.13B | $764.4M | $607.5M |
| Contas a Receber | $10.9M | $12.2M | $15.4M | $14.4M | $19.4M | $14.7M | $18.5M | $19.5M | $19.5M | $4.75B |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $988.7M | $1.03B | $1.25B | $1.36B | $1.76B | $2.82B | $1.75B | $1.38B | $901.0M | $5.41B |
| Imobilizado | $63.9M | $60.3M | $81.1M | $87.9M | $85.5M | $79.4M | $76.9M | $74.9M | $71.6M | $74.7M |
| Ágio | $119.0M | $119.0M | $240.9M | $240.9M | $240.9M | $240.9M | $240.9M | $240.9M | $240.9M | $240.9M |
| Ativos Intangíveis | $7.4M | $6.1M | $20.6M | $16.6M | $13.1M | $10.0M | $7.2M | $4.8M | $3.2M | $2.0M |
| Ativos Totais | $3.88B | $4.11B | $5.32B | $5.55B | $6.62B | $7.43B | $6.98B | $7.17B | $7.11B | $6.97B |
| Contas a Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dívida de Curto Prazo | $22.1M | $31.8M | $31.5M | $20.2M | $35.7M | $50.8M | $46.6M | 0 | 0 | $20.0M |
| Passivos Circulantes | $3.30B | $3.49B | $4.54B | $4.72B | $5.77B | $6.56B | $6.16B | $5.60B | $5.68B | $4.58B |
| Dívida de Longo Prazo | $99.3M | $112.5M | $20.3M | $20.6M | $20.9M | $21.2M | $21.5M | $521.8M | $405.1M | $22.4M |
| Passivos Totais | $3.40B | $3.60B | $4.56B | $4.74B | $5.79B | $6.58B | $6.18B | $6.32B | $6.24B | $6.05B |
| Reservas | $125.3M | $149.0M | $176.4M | $212.5M | $224.4M | $293.2M | $345.3M | $376.0M | $387.1M | $421.6M |
| Patrimônio Líquido | $481.8M | $508.3M | $760.7M | $809.3M | $820.4M | $854.4M | $797.9M | $853.3M | $863.5M | $921.5M |
| Dívida Total | $121.4M | $144.3M | $51.8M | $40.8M | $56.6M | $72.0M | $68.1M | $521.8M | $405.1M | $42.4M |
| Dívida Líquida | -$777.0M | -$769.2M | -$1.09B | -$1.14B | -$1.49B | -$2.55B | -$1.37B | -$837.6M | -$476.4M | -$617.8M |
| Capital de Giro | -$2.31B | -$2.47B | -$3.28B | -$3.36B | -$4.02B | -$3.74B | -$4.41B | -$4.22B | -$4.78B | $830.3M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $245.5M | $52.6M | $98.3M | $102.6M |
| Ativos Totais | $7.01B | $6.97B | $8.50B | $8.43B |
| Passivos Totais | $6.11B | $6.05B | $7.38B | $7.32B |
| Patrimônio Líquido | $904.1M | $921.5M | $1.12B | $1.11B |
| Dívida Total | $160.3M | $42.4M | $42.4M | $188.7M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $38.9M | $41.8M | $53.1M | $67.6M | $46.6M | $98.0M | $81.9M | $61.8M | $43.3M | $67.5M |
| Depreciação e Amortização | $14.1M | $12.0M | $21.4M | $18.1M | -$87000 | -$18.6M | $3.1M | $5.6M | $3.2M | $2.1M |
| Compensação em Ações | $1.8M | $2.1M | $2.7M | $3.2M | $3.6M | $3.7M | $3.8M | $4.3M | $4.3M | $4.9M |
| Variação Capital de Giro | $725000 | $10.6M | $10.2M | $6.8M | -$11.2M | 0 | 0 | 0 | $4.4M | 0 |
| Fluxo de Caixa Operacional | $54.0M | $73.5M | $90.4M | $92.5M | $70.3M | $69.5M | $94.5M | $109.5M | $64.5M | $94.8M |
| CapEx | -$6.7M | -$3.1M | -$23.3M | -$13.0M | -$7.0M | -$3.0M | -$4.0M | -$10.4M | -$3.5M | -$9.2M |
| Aquisições | -$234.9M | -$206.3M | $106.0M | 0 | 0 | 0 | 0 | -$13.8M | 0 | 0 |
| Recompra de Ações | -$2.9M | -$737000 | -$1.7M | -$8.6M | -$19.1M | -$22.9M | -$3.2M | -$7.0M | -$22.4M | -$5.5M |
| Dividendos Pagos | -$21.6M | -$18.3M | -$25.8M | -$30.9M | -$28.9M | -$28.9M | -$29.5M | -$30.8M | -$31.8M | -$32.6M |
| Fluxo de Caixa Livre | $47.3M | $70.5M | $67.1M | $79.4M | $63.3M | $66.5M | $90.4M | $99.1M | $61.0M | $85.7M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $25.1M | $28.0M | $14.0M | $23.1M |
| CapEx | -$678000 | -$5.7M | -$1.3M | $1.3M |
| Fluxo de Caixa Livre | $24.4M | $22.3M | $12.7M | $24.4M |
| Dividendos Pagos | -$8.1M | -$8.2M | -$8.2M | -$9.9M |
| Compensação em Ações | $1.2M | $1.2M | $1.3M | $1.6M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +7.7% | +26.0% | +8.3% | +0.5% | -1.6% | +3.9% | +17.9% | +4.6% | +5.9% |
| Crescimento Lucro Líquido (anual) | | +7.4% | +27.0% | +27.3% | -31.1% | +110.5% | -16.5% | -24.6% | -30.0% | +56.1% |
| Crescimento LPA (anual) | | -0.8% | +15.5% | +23.5% | -29.9% | +113.2% | -15.3% | -24.9% | -28.0% | +57.9% |
| Variação de Ações (anual) | | +0.5% | +18.5% | +4.6% | -2.2% | -0.5% | -1.4% | -0.6% | -1.0% | -1.4% |
| Crescimento FCF (anual) | | +49.1% | -4.7% | +18.3% | -20.3% | +5.0% | +36.0% | +9.6% | -38.5% | +40.4% |
| Margem Bruta | 93.6% | 93.1% | 92.4% | 91.0% | 80.4% | 109.0% | 97.4% | 79.0% | 66.4% | 72.4% |
| Margem Operacional | 31.0% | 32.8% | 27.8% | 32.4% | 21.1% | 48.7% | 38.7% | 24.1% | 16.5% | 23.2% |
| Margem EBITDA | 39.3% | 39.4% | 37.1% | 39.6% | 21.1% | 41.2% | 39.9% | 25.9% | 17.5% | 23.7% |
| Margem Líquida | 22.9% | 22.8% | 23.0% | 27.0% | 18.5% | 39.6% | 31.9% | 20.4% | 13.6% | 20.1% |
| Margem FCF | 27.8% | 38.4% | 29.1% | 31.7% | 25.2% | 26.9% | 35.2% | 32.7% | 19.2% | 25.5% |
| Taxa Efetiva de Imposto | 26.2% | 30.5% | 17.5% | 16.6% | 12.4% | 18.6% | 17.7% | 15.3% | 17.2% | 14.1% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.59 | $2.36 | $1.90 | $2.15 | $1.75 | $1.85 | $2.55 | $2.81 | $1.75 | $2.49 |
| Dividendo por Ação | $0.73 | $0.61 | $0.73 | $0.84 | $0.80 | $0.80 | $0.83 | $0.87 | $0.91 | $0.95 |
| Ações em Circulação (Básicas) | $29.7M | $29.8M | $35.2M | $36.8M | $36.0M | $35.7M | $35.1M | $35.3M | $34.5M | $34.0M |
O que olhar em empresas de Financial Services
- Efficiency Ratio (≤55%) — Despesas operacionais / receita. Bancos top abaixo de 55%.
- ROA (≥1%) — Quanto ganham por cada euro de ativos. ROE engana em bancos pela alavancagem.
- ROTCE (≥12%) — Rentabilidade sobre Capital Tangível. Exclui goodwill e intangíveis.
- Capital / Ativos (proxy Tier 1) (≥8%) — Proxy do rácio de capital. FMP não expõe Tier 1 regulatório direto.
- P/B (1,0-1,5x) — Métrica clássica bancária. <1x pode ser oportunidade ou distress.
- Dividend yield sustentável (≥2%, <8%) — Bancos UE pagam 5-7% sem stress. >8% é sinal de distress.
Rentabilidade
| Retorno sobre patrimônio | 7.69% |
| Retorno sobre capital investido | 0.48% |
| Retorno sobre ativos | 0.92% |
| Margem bruta | 74.64% |
| Margem operacional | 14.03% |
| Margem líquida | 23.17% |
Saúde financeira
| Dívida / Patrimônio | 0.17 |
| Liquidez corrente | 0.76 |
| Piotroski F-Score | 9 |
| Altman Z-Score | 0.39 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 19.81 | 23.88 | 19.95 | 15.38 | 18.13 | 8.89 | 13.15 | 12.22 | 19.44 | 11.88 |
| P/VP | 1.59 | 1.80 | 1.37 | 1.29 | 1.03 | 1.02 | 1.35 | 0.88 | 0.98 | 0.87 |
| P/V | 4.49 | 5.00 | 4.53 | 4.16 | 3.35 | 3.52 | 4.18 | 2.49 | 2.66 | 2.39 |
| Margem Bruta | 93.6% | 93.1% | 92.4% | 91.0% | 80.4% | 109.0% | 97.4% | 79.0% | 66.4% | 72.4% |
| Margem Operacional | 31.0% | 32.8% | 27.8% | 32.4% | 21.1% | 48.7% | 38.7% | 24.1% | 16.5% | 23.2% |
| Margem Líquida | 22.9% | 22.8% | 23.0% | 27.0% | 18.5% | 39.6% | 31.9% | 20.4% | 13.6% | 20.1% |