HORIZON BANCORP INC/IN (HBNC) Fundamental Analysis & Valuation

NASDAQ:HBNC • US4404071049

Current stock price

17.83 USD
+0.09 (+0.51%)
Last:

This HBNC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

2

1. HBNC Profitability Analysis

1.1 Basic Checks

  • In the past year HBNC was profitable.
  • HBNC had a positive operating cash flow in the past year.
  • Of the past 5 years HBNC 4 years were profitable.
  • HBNC had a positive operating cash flow in each of the past 5 years.
HBNC Yearly Net Income VS EBIT VS OCF VS FCFHBNC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M

1.2 Ratios

  • Looking at the Return On Assets, with a value of -2.34%, HBNC is doing worse than 97.61% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of -21.86%, HBNC is doing worse than 96.55% of the companies in the same industry.
Industry RankSector Rank
ROA -2.34%
ROE -21.86%
ROIC N/A
ROA(3y)-0.51%
ROA(5y)0.17%
ROE(3y)-4.44%
ROE(5y)2.5%
ROIC(3y)N/A
ROIC(5y)N/A
HBNC Yearly ROA, ROE, ROICHBNC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20

1.3 Margins

  • In the last couple of years the Profit Margin of HBNC has grown nicely.
  • HBNC does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y145.29%
PM growth 5Y78.92%
GM growth 3YN/A
GM growth 5YN/A
HBNC Yearly Profit, Operating, Gross MarginsHBNC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100 200 300 400 500

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0

2. HBNC Health Analysis

2.1 Basic Checks

  • HBNC does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • HBNC has more shares outstanding than it did 1 year ago.
  • HBNC has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, HBNC has a worse debt to assets ratio.
HBNC Yearly Shares OutstandingHBNC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M 50M
HBNC Yearly Total Debt VS Total AssetsHBNC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B

2.2 Solvency

  • HBNC has a debt to FCF ratio of 5.45. This is a neutral value as HBNC would need 5.45 years to pay back of all of its debts.
  • The Debt to FCF ratio of HBNC (5.45) is worse than 72.94% of its industry peers.
  • HBNC has a Debt/Equity ratio of 0.72. This is a neutral value indicating HBNC is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.72, HBNC is doing worse than 82.49% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 5.45
Altman-Z N/A
ROIC/WACCN/A
WACC10.98%
HBNC Yearly LT Debt VS Equity VS FCFHBNC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
HBNC Yearly Current Assets VS Current LiabilitesHBNC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M 250M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. HBNC Growth Analysis

3.1 Past

  • HBNC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 103.53%, which is quite impressive.
  • Measured over the past years, HBNC shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.39% on average per year.
  • HBNC shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -114.08%.
EPS 1Y (TTM)103.53%
EPS 3Y17.37%
EPS 5Y16.39%
EPS Q2Q%-18.46%
Revenue 1Y (TTM)-114.08%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%115.17%

3.2 Future

  • Based on estimates for the next years, HBNC will show a very negative growth in Earnings Per Share. The EPS will decrease by -19.34% on average per year.
  • HBNC is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.02% yearly.
EPS Next Y-39.41%
EPS Next 2Y-19.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year10.98%
Revenue Next 2Y8.02%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
HBNC Yearly Revenue VS EstimatesHBNC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 100M 200M 300M
HBNC Yearly EPS VS EstimatesHBNC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2

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5

4. HBNC Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 5.15, the valuation of HBNC can be described as very cheap.
  • Based on the Price/Earnings ratio, HBNC is valued cheaper than 97.08% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.33, HBNC is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 8.51, the valuation of HBNC can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, HBNC is valued cheaper than 90.19% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of HBNC to the average of the S&P500 Index (38.16), we can say HBNC is valued rather cheaply.
Industry RankSector Rank
PE 5.15
Fwd PE 8.51
HBNC Price Earnings VS Forward Price EarningsHBNC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • HBNC's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 12.3
EV/EBITDA N/A
HBNC Per share dataHBNC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8 10

4.3 Compensation for Growth

  • A cheap valuation may be justified as HBNC's earnings are expected to decrease with -19.34% in the coming years.
PEG (NY)N/A
PEG (5Y)0.31
EPS Next 2Y-19.34%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. HBNC Dividend Analysis

5.1 Amount

  • HBNC has a Yearly Dividend Yield of 3.63%.
  • Compared to an average industry Dividend Yield of 2.53, HBNC pays a better dividend. On top of this HBNC pays more dividend than 80.64% of the companies listed in the same industry.
  • HBNC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.63%

5.2 History

  • The dividend of HBNC has a limited annual growth rate of 5.32%.
  • HBNC has paid a dividend for at least 10 years, which is a reliable track record.
  • HBNC has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)5.32%
Div Incr Years0
Div Non Decr Years10
HBNC Yearly Dividends per shareHBNC Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6

5.3 Sustainability

  • The earnings of HBNC are negative and hence is the payout ratio. HBNC will probably not be able to sustain this dividend level.
DP-19.6%
EPS Next 2Y-19.34%
EPS Next 3YN/A
HBNC Yearly Income VS Free CF VS DividendHBNC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M

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HBNC Fundamentals: All Metrics, Ratios and Statistics

HORIZON BANCORP INC/IN

NASDAQ:HBNC (4/15/2026, 12:13:23 PM)

17.83

+0.09 (+0.51%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-21
Earnings (Next)04-22
Inst Owners80.46%
Inst Owner Change0%
Ins Owners0.97%
Ins Owner Change0.72%
Market Cap913.43M
Revenue(TTM)-26.97M
Net Income(TTM)-150.48M
Analysts80
Price Target21.22 (19.01%)
Short Float %2.85%
Short Ratio3.77
Dividend
Industry RankSector Rank
Dividend Yield 3.63%
Yearly Dividend0.62
Dividend Growth(5Y)5.32%
DP-19.6%
Div Incr Years0
Div Non Decr Years10
Ex-Date04-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)105.14%
Min EPS beat(2)3.71%
Max EPS beat(2)206.56%
EPS beat(4)4
Avg EPS beat(4)62.74%
Min EPS beat(4)3.71%
Max EPS beat(4)206.56%
EPS beat(8)8
Avg EPS beat(8)51.76%
EPS beat(12)11
Avg EPS beat(12)36.1%
EPS beat(16)13
Avg EPS beat(16)27.25%
Revenue beat(2)0
Avg Revenue beat(2)-21.01%
Min Revenue beat(2)-30.04%
Max Revenue beat(2)-11.99%
Revenue beat(4)1
Avg Revenue beat(4)-9.92%
Min Revenue beat(4)-30.04%
Max Revenue beat(4)4.53%
Revenue beat(8)1
Avg Revenue beat(8)-13.13%
Revenue beat(12)2
Avg Revenue beat(12)-14.72%
Revenue beat(16)4
Avg Revenue beat(16)-12.75%
PT rev (1m)-1.89%
PT rev (3m)4%
EPS NQ rev (1m)0.01%
EPS NQ rev (3m)1.07%
EPS NY rev (1m)0.29%
EPS NY rev (3m)1.93%
Revenue NQ rev (1m)0.16%
Revenue NQ rev (3m)2.51%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)2.99%
Valuation
Industry RankSector Rank
PE 5.15
Fwd PE 8.51
P/S N/A
P/FCF 12.3
P/OCF 11.53
P/B 1.33
P/tB 1.74
EV/EBITDA N/A
EPS(TTM)3.46
EY19.41%
EPS(NY)2.1
Fwd EY11.76%
FCF(TTM)1.45
FCFY8.13%
OCF(TTM)1.55
OCFY8.67%
SpS-0.53
BVpS13.43
TBVpS10.26
PEG (NY)N/A
PEG (5Y)0.31
Graham Number32.34 (81.38%)
Profitability
Industry RankSector Rank
ROA -2.34%
ROE -21.86%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM -275.41%
ROA(3y)-0.51%
ROA(5y)0.17%
ROE(3y)-4.44%
ROE(5y)2.5%
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
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y145.29%
PM growth 5Y78.92%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0
Health
Industry RankSector Rank
Debt/Equity 0.72
Debt/FCF 5.45
Debt/EBITDA N/A
Cap/Depr 48.1%
Cap/Sales -18.38%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC10.98%
ROIC/WACCN/A
Cap/Depr(3y)56.13%
Cap/Depr(5y)48.39%
Cap/Sales(3y)8.39%
Cap/Sales(5y)5.67%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)103.53%
EPS 3Y17.37%
EPS 5Y16.39%
EPS Q2Q%-18.46%
EPS Next Y-39.41%
EPS Next 2Y-19.34%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-114.08%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%115.17%
Revenue Next Year10.98%
Revenue Next 2Y8.02%
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 1Y5684.66%
FCF growth 3Y-5.5%
FCF growth 5Y0.35%
OCF growth 1Y1144.21%
OCF growth 3Y-5.67%
OCF growth 5Y0.08%

HORIZON BANCORP INC/IN / HBNC Fundamental Analysis FAQ

What is the fundamental rating for HBNC stock?

ChartMill assigns a fundamental rating of 2 / 10 to HBNC.


What is the valuation status of HORIZON BANCORP INC/IN (HBNC) stock?

ChartMill assigns a valuation rating of 5 / 10 to HORIZON BANCORP INC/IN (HBNC). This can be considered as Fairly Valued.


How profitable is HORIZON BANCORP INC/IN (HBNC) stock?

HORIZON BANCORP INC/IN (HBNC) has a profitability rating of 2 / 10.


What is the valuation of HORIZON BANCORP INC/IN based on its PE and PB ratios?

The Price/Earnings (PE) ratio for HORIZON BANCORP INC/IN (HBNC) is 5.15 and the Price/Book (PB) ratio is 1.33.


How financially healthy is HORIZON BANCORP INC/IN?

The financial health rating of HORIZON BANCORP INC/IN (HBNC) is 0 / 10.