HORIZON BANCORP INC/IN (HBNC)
US4404071049 - Common Stock
HBNC gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 411 industry peers in the Banks industry. Both the profitability and financial health of HBNC have multiple concerns. HBNC has a valuation in line with the averages, but it does not seem to be growing. Finally HBNC also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
HBNC had positive earnings in the past year.
In the past year HBNC had a positive cash flow from operations.
Each year in the past 5 years HBNC has been profitable.
In the past 5 years HBNC always reported a positive cash flow from operatings.
1.2 Ratios
HBNC has a Return On Assets of 0.35%. This is amonst the worse of the industry: HBNC underperforms 85.16% of its industry peers.
HBNC has a worse Return On Equity (3.89%) than 84.91% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.35% | ||
| ROE | 3.89% | ||
| ROIC | N/A |
ROA(3y)0.9%
ROA(5y)1.03%
ROE(3y)9.91%
ROE(5y)9.95%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
HBNC's Profit Margin of 14.91% is on the low side compared to the rest of the industry. HBNC is outperformed by 81.02% of its industry peers.
HBNC's Profit Margin has declined in the last couple of years.
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) | 14.91% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-21.18%
PM growth 5Y-13.86%
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.
Compared to 1 year ago, HBNC has more shares outstanding
Compared to 5 years ago, HBNC has more shares outstanding
HBNC has a better debt/assets ratio than last year.
2.2 Solvency
HBNC has a debt to FCF ratio of 18.06. This is a negative value and a sign of low solvency as HBNC would need 18.06 years to pay back of all of its debts.
The Debt to FCF ratio of HBNC (18.06) is worse than 84.67% of its industry peers.
HBNC has a Debt/Equity ratio of 2.04. This is a high value indicating a heavy dependency on external financing.
HBNC has a worse Debt to Equity ratio (2.04) than 91.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.04 | ||
| Debt/FCF | 18.06 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC9.59%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The earnings per share for HBNC have decreased strongly by -27.57% in the last year.
Measured over the past 5 years, HBNC shows a small growth in Earnings Per Share. The EPS has been growing by 2.30% on average per year.
HBNC shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -23.50%.
HBNC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.13% yearly.
EPS 1Y (TTM)-27.57%
EPS 3Y-1.46%
EPS 5Y2.3%
EPS growth Q2Q-31.25%
Revenue 1Y (TTM)-23.5%
Revenue growth 3Y-5.87%
Revenue growth 5Y2.13%
Revenue growth Q2Q-60.78%
3.2 Future
HBNC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 0.37% yearly.
Based on estimates for the next years, HBNC will show a small growth in Revenue. The Revenue will grow by 5.33% on average per year.
EPS Next Y-11.4%
EPS Next 2Y0.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.84%
Revenue Next 2Y5.33%
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.
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
Based on the Price/Earnings ratio of 7.65, the valuation of HBNC can be described as very cheap.
HBNC's Price/Earnings ratio is a bit cheaper when compared to the industry. HBNC is cheaper than 76.64% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 25.20, HBNC is valued rather cheaply.
HBNC is valuated reasonably with a Price/Forward Earnings ratio of 8.63.
Based on the Price/Forward Earnings ratio, HBNC is valued a bit cheaper than the industry average as 73.97% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.63, HBNC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.65 | ||
| Fwd PE | 8.63 |
4.2 Price Multiples
HBNC's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. HBNC is cheaper than 73.97% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.44 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)3.32
EPS Next 2Y0.37%
EPS Next 3YN/A
5. Dividend
5.1 Amount
HBNC has a Yearly Dividend Yield of 5.22%, which is a nice return.
HBNC's Dividend Yield is rather good when compared to the industry average which is at 3.86. HBNC pays more dividend than 82.97% of the companies in the same industry.
HBNC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.22% |
5.2 History
The dividend of HBNC is nicely growing with an annual growth rate of 9.88%!
HBNC has paid a dividend for at least 10 years, which is a reliable track record.
HBNC has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)9.88%
Div Incr Years8
Div Non Decr Years8
5.3 Sustainability
HBNC pays out 101.16% of its income as dividend. This is not a sustainable payout ratio.
The dividend of HBNC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP101.16%
EPS Next 2Y0.37%
EPS Next 3YN/A
HORIZON BANCORP INC/IN
NASDAQ:HBNC (4/25/2024, 7:00:01 PM)
After market: 11.85 0 (0%)11.85
-0.33 (-2.71%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap522.70M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.22% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.65 | ||
| Fwd PE | 8.63 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)3.32
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.35% | ||
| ROE | 3.89% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 14.91% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.02
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.04 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-27.57%
EPS 3Y-1.46%
EPS 5Y
EPS growth Q2Q
EPS Next Y-11.4%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-23.5%
Revenue growth 3Y-5.87%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y