HORIZON BANCORP INC/IN (HBNC) Stock Fundamental Analysis
NASDAQ:HBNC - US4404071049 - Common Stock
16.37 USD
-0.06 (-0.37%)
16.37 USD
0 (0%)
Overall HBNC gets a fundamental rating of 3 out of 10. We evaluated HBNC against 391 industry peers in the Banks industry. Both the profitability and financial health of HBNC have multiple concerns. HBNC is not valued too expensively and it also shows a decent growth rate. Finally HBNC also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year HBNC was profitable.
In the past year HBNC had a positive cash flow from operations.
Each year in the past 5 years HBNC has been profitable.
Each year in the past 5 years HBNC had a positive operating cash flow.
1.2 Ratios
HBNC has a Return On Assets of 0.68%. This is in the lower half of the industry: HBNC underperforms 63.94% of its industry peers.
With a Return On Equity value of 6.56%, HBNC is not doing good in the industry: 67.01% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.68% | ||
| ROE | 6.56% | ||
| ROIC | N/A |
ROA(3y)0.66%
ROA(5y)0.87%
ROE(3y)7.44%
ROE(5y)8.85%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
HBNC's Profit Margin of 23.84% is in line compared to the rest of the industry. HBNC outperforms 50.64% of its industry peers.
In the last couple of years the Profit Margin of HBNC has declined.
The Operating Margin and Gross Margin are not available for HBNC so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 23.84% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-20.82%
PM growth 5Y-10.73%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
HBNC does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for HBNC has been increased compared to 1 year ago.
The number of shares outstanding for HBNC has been reduced compared to 5 years ago.
The debt/assets ratio for HBNC has been reduced compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of HBNC is 83.31, which is on the high side as it means it would take HBNC, 83.31 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of HBNC (83.31) is worse than 83.63% of its industry peers.
HBNC has a Debt/Equity ratio of 1.50. This is a high value indicating a heavy dependency on external financing.
HBNC has a Debt to Equity ratio of 1.50. This is amonst the worse of the industry: HBNC underperforms 86.70% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.5 | ||
| Debt/FCF | 83.31 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC10.25%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 55.97% over the past year.
Measured over the past 5 years, HBNC shows a small growth in Earnings Per Share. The EPS has been growing by 2.26% on average per year.
The Revenue has grown by 17.83% in the past year. This is quite good.
The Revenue has been decreasing by -1.24% on average over the past years.
EPS 1Y (TTM)55.97%
EPS 3Y-5.43%
EPS 5Y2.26%
EPS Q2Q%46.87%
Revenue 1Y (TTM)17.83%
Revenue growth 3Y-6.42%
Revenue growth 5Y-1.24%
Sales Q2Q%18.85%
3.2 Future
Based on estimates for the next years, HBNC will show a small growth in Earnings Per Share. The EPS will grow by 7.08% on average per year.
Based on estimates for the next years, HBNC will show a quite strong growth in Revenue. The Revenue will grow by 11.33% on average per year.
EPS Next Y13.6%
EPS Next 2Y7.08%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year19.14%
Revenue Next 2Y11.33%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
HBNC is valuated cheaply with a Price/Earnings ratio of 7.83.
HBNC's Price/Earnings ratio is rather cheap when compared to the industry. HBNC is cheaper than 93.61% of the companies in the same industry.
When comparing the Price/Earnings ratio of HBNC to the average of the S&P500 Index (27.03), we can say HBNC is valued rather cheaply.
The Price/Forward Earnings ratio is 8.40, which indicates a very decent valuation of HBNC.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HBNC indicates a rather cheap valuation: HBNC is cheaper than 81.59% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.54, HBNC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.83 | ||
| Fwd PE | 8.4 |
4.2 Price Multiples
80.05% of the companies in the same industry are cheaper than HBNC, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 64.18 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.58
PEG (5Y)3.46
EPS Next 2Y7.08%
EPS Next 3YN/A
5. Dividend
5.1 Amount
HBNC has a Yearly Dividend Yield of 3.80%. Purely for dividend investing, there may be better candidates out there.
HBNC's Dividend Yield is a higher than the industry average which is at 3.56.
HBNC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
5.2 History
The dividend of HBNC has a limited annual growth rate of 5.16%.
HBNC has paid a dividend for at least 10 years, which is a reliable track record.
As HBNC did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)5.16%
Div Incr Years0
Div Non Decr Years9
5.3 Sustainability
HBNC pays out 54.67% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of HBNC is growing, but earnings are growing more, so the dividend growth is sustainable.
DP54.67%
EPS Next 2Y7.08%
EPS Next 3YN/A
16.37
-0.06 (-0.37%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners72.5%
Inst Owner Change0.49%
Ins Owners1.32%
Ins Owner Change0.73%
Market Cap838.80M
Analysts81.67
Price Target19.58 (19.61%)
Short Float %1.24%
Short Ratio1.95
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
Yearly Dividend0.64
Dividend Growth(5Y)5.16%
DP54.67%
Div Incr Years0
Div Non Decr Years9
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)20.34%
Min EPS beat(2)5.28%
Max EPS beat(2)35.39%
EPS beat(4)4
Avg EPS beat(4)50.66%
Min EPS beat(4)5.28%
Max EPS beat(4)153.21%
EPS beat(8)7
Avg EPS beat(8)26.08%
EPS beat(12)9
Avg EPS beat(12)17.11%
EPS beat(16)12
Avg EPS beat(16)14.99%
Revenue beat(2)1
Avg Revenue beat(2)1.18%
Min Revenue beat(2)-2.17%
Max Revenue beat(2)4.53%
Revenue beat(4)1
Avg Revenue beat(4)-14.5%
Min Revenue beat(4)-57.06%
Max Revenue beat(4)4.53%
Revenue beat(8)1
Avg Revenue beat(8)-15.86%
Revenue beat(12)2
Avg Revenue beat(12)-13.56%
Revenue beat(16)5
Avg Revenue beat(16)-10.72%
PT rev (1m)9.09%
PT rev (3m)9.09%
EPS NQ rev (1m)3.15%
EPS NQ rev (3m)3.75%
EPS NY rev (1m)0.09%
EPS NY rev (3m)-0.26%
Revenue NQ rev (1m)1.52%
Revenue NQ rev (3m)1.62%
Revenue NY rev (1m)0.11%
Revenue NY rev (3m)0.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.83 | ||
| Fwd PE | 8.4 | ||
| P/S | 3.85 | ||
| P/FCF | 64.18 | ||
| P/OCF | 44.98 | ||
| P/B | 1.06 | ||
| P/tB | 1.34 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.09
EY12.77%
EPS(NY)1.95
Fwd EY11.91%
FCF(TTM)0.26
FCFY1.56%
OCF(TTM)0.36
OCFY2.22%
SpS4.25
BVpS15.43
TBVpS12.24
PEG (NY)0.58
PEG (5Y)3.46
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.68% | ||
| ROE | 6.56% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 23.84% | ||
| GM | N/A | ||
| FCFM | 6.01% |
ROA(3y)0.66%
ROA(5y)0.87%
ROE(3y)7.44%
ROE(5y)8.85%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-20.82%
PM growth 5Y-10.73%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.5 | ||
| Debt/FCF | 83.31 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 55.5% | ||
| Cap/Sales | 2.56% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 25.19% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score7
WACC10.25%
ROIC/WACCN/A
Cap/Depr(3y)59.85%
Cap/Depr(5y)51.32%
Cap/Sales(3y)3.13%
Cap/Sales(5y)2.52%
Profit Quality(3y)129.3%
Profit Quality(5y)123%
High Growth Momentum
Growth
EPS 1Y (TTM)55.97%
EPS 3Y-5.43%
EPS 5Y2.26%
EPS Q2Q%46.87%
EPS Next Y13.6%
EPS Next 2Y7.08%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)17.83%
Revenue growth 3Y-6.42%
Revenue growth 5Y-1.24%
Sales Q2Q%18.85%
Revenue Next Year19.14%
Revenue Next 2Y11.33%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-83.37%
FCF growth 3Y-76.96%
FCF growth 5Y-62.38%
OCF growth 1Y-78.59%
OCF growth 3Y-60.88%
OCF growth 5Y-48.45%