HEARTLAND FINANCIAL USA INC (HTLF) Fundamental Analysis & Valuation

NASDAQ:HTLF • US42234Q1022

64.67 USD
-1.43 (-2.16%)
At close: Jan 31, 2025
63.7263 USD
-0.94 (-1.46%)
After Hours: 1/31/2025, 8:00:01 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

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

Fundamental Rating

2

Taking everything into account, HTLF scores 2 out of 10 in our fundamental rating. HTLF was compared to 381 industry peers in the Banks industry. Both the profitability and financial health of HTLF have multiple concerns. HTLF does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

2

1. HTLF Profitability Analysis

1.1 Basic Checks

  • In the past year HTLF was profitable.
  • HTLF had a positive operating cash flow in the past year.
  • Each year in the past 5 years HTLF has been profitable.
  • In the past 5 years HTLF always reported a positive cash flow from operatings.
HTLF Yearly Net Income VS EBIT VS OCF VS FCFHTLF 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 100M 200M 300M

1.2 Ratios

  • With a Return On Assets value of 0.42%, HTLF is not doing good in the industry: 76.94% of the companies in the same industry are doing better.
  • HTLF has a worse Return On Equity (3.61%) than 83.21% of its industry peers.
Industry RankSector Rank
ROA 0.42%
ROE 3.61%
ROIC N/A
ROA(3y)0.83%
ROA(5y)0.87%
ROE(3y)8.4%
ROE(5y)8.21%
ROIC(3y)N/A
ROIC(5y)N/A
HTLF Yearly ROA, ROE, ROICHTLF Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8 10

1.3 Margins

  • The Profit Margin of HTLF (13.31%) is worse than 78.20% of its industry peers.
  • HTLF's Profit Margin has declined in the last couple of years.
  • HTLF does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 13.31%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-17.2%
PM growth 5Y-11.15%
GM growth 3YN/A
GM growth 5YN/A
HTLF Yearly Profit, Operating, Gross MarginsHTLF Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. HTLF Health Analysis

2.1 Basic Checks

  • HTLF does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, HTLF has more shares outstanding
  • Compared to 1 year ago, HTLF has an improved debt to assets ratio.
HTLF Yearly Shares OutstandingHTLF Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
HTLF Yearly Total Debt VS Total AssetsHTLF Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B

2.2 Solvency

  • The Debt to FCF ratio of HTLF is 2.16, which is a good value as it means it would take HTLF, 2.16 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 2.16, HTLF perfoms like the industry average, outperforming 58.15% of the companies in the same industry.
  • A Debt/Equity ratio of 0.20 indicates that HTLF is not too dependend on debt financing.
  • HTLF's Debt to Equity ratio of 0.20 is in line compared to the rest of the industry. HTLF outperforms 49.37% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 2.16
Altman-Z N/A
ROIC/WACCN/A
WACC13.75%
HTLF Yearly LT Debt VS Equity VS FCFHTLF Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
HTLF Yearly Current Assets VS Current LiabilitesHTLF Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M

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

2

3. HTLF Growth Analysis

3.1 Past

  • The earnings per share for HTLF have decreased by -3.16% in the last year.
  • Measured over the past 5 years, HTLF shows a small growth in Earnings Per Share. The EPS has been growing by 4.81% on average per year.
  • HTLF shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -20.67%.
  • The Revenue has been growing slightly by 2.09% on average over the past years.
EPS 1Y (TTM)-3.16%
EPS 3Y7.54%
EPS 5Y4.81%
EPS Q2Q%8.33%
Revenue 1Y (TTM)-20.67%
Revenue growth 3Y-1.76%
Revenue growth 5Y2.09%
Sales Q2Q%1.58%

3.2 Future

  • The Earnings Per Share is expected to grow by 2.70% on average over the next years.
  • Based on estimates for the next years, HTLF will show a small growth in Revenue. The Revenue will grow by 0.67% on average per year.
EPS Next Y5.54%
EPS Next 2Y-0.48%
EPS Next 3Y2.7%
EPS Next 5YN/A
Revenue Next Year0.93%
Revenue Next 2Y2.02%
Revenue Next 3Y0.67%
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 decreasing.
HTLF Yearly Revenue VS EstimatesHTLF Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
HTLF Yearly EPS VS EstimatesHTLF Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3 4 5

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2

4. HTLF Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.06, the valuation of HTLF can be described as correct.
  • HTLF's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of HTLF to the average of the S&P500 Index (26.29), we can say HTLF is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 14.71, HTLF is valued correctly.
  • 67.17% of the companies in the same industry are cheaper than HTLF, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.60, HTLF is valued a bit cheaper.
Industry RankSector Rank
PE 14.06
Fwd PE 14.71
HTLF Price Earnings VS Forward Price EarningsHTLF Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • HTLF's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 14.27
EV/EBITDA N/A
HTLF Per share dataHTLF EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.54
PEG (5Y)2.92
EPS Next 2Y-0.48%
EPS Next 3Y2.7%

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

5

5. HTLF Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.86%, HTLF has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.86, HTLF is paying slightly less dividend.
  • HTLF's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.86%

5.2 History

  • On average, the dividend of HTLF grows each year by 18.17%, which is quite nice.
  • HTLF has been paying a dividend for at least 10 years, so it has a reliable track record.
  • HTLF has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)18.17%
Div Incr Years8
Div Non Decr Years11
HTLF Yearly Dividends per shareHTLF Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • HTLF pays out 77.06% of its income as dividend. This is not a sustainable payout ratio.
  • HTLF's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP77.06%
EPS Next 2Y-0.48%
EPS Next 3Y2.7%
HTLF Yearly Income VS Free CF VS DividendHTLF Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M
HTLF Dividend Payout.HTLF Dividend Payout, showing the Payout Ratio.HTLF Dividend Payout.PayoutRetained Earnings

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HTLF Fundamentals: All Metrics, Ratios and Statistics

HEARTLAND FINANCIAL USA INC

NASDAQ:HTLF (1/31/2025, 8:00:01 PM)

After market: 63.7263 -0.94 (-1.46%)

64.67

-1.43 (-2.16%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-03
Earnings (Next)N/A
Inst Owners79.66%
Inst Owner Change0%
Ins Owners0.92%
Ins Owner Change0%
Market Cap2.77B
Revenue(TTM)580.05M
Net Income(TTM)77.19M
Analysts84.44
Price Target71.91 (11.2%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.86%
Yearly Dividend1.4
Dividend Growth(5Y)18.17%
DP77.06%
Div Incr Years8
Div Non Decr Years11
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.45%
Min EPS beat(2)-2.13%
Max EPS beat(2)-0.77%
EPS beat(4)1
Avg EPS beat(4)-0.12%
Min EPS beat(4)-5.44%
Max EPS beat(4)7.85%
EPS beat(8)2
Avg EPS beat(8)-2.3%
EPS beat(12)4
Avg EPS beat(12)-1.19%
EPS beat(16)7
Avg EPS beat(16)-0.16%
Revenue beat(2)0
Avg Revenue beat(2)-6.24%
Min Revenue beat(2)-7.21%
Max Revenue beat(2)-5.27%
Revenue beat(4)1
Avg Revenue beat(4)-3.57%
Min Revenue beat(4)-7.21%
Max Revenue beat(4)0.41%
Revenue beat(8)2
Avg Revenue beat(8)-3.93%
Revenue beat(12)3
Avg Revenue beat(12)-3.33%
Revenue beat(16)4
Avg Revenue beat(16)-2.92%
PT rev (1m)1.81%
PT rev (3m)11.02%
EPS NQ rev (1m)6.86%
EPS NQ rev (3m)6.86%
EPS NY rev (1m)0.27%
EPS NY rev (3m)0.27%
Revenue NQ rev (1m)3.95%
Revenue NQ rev (3m)3.95%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 14.06
Fwd PE 14.71
P/S 4.78
P/FCF 14.27
P/OCF 14.08
P/B 1.3
P/tB 1.79
EV/EBITDA N/A
EPS(TTM)4.6
EY7.11%
EPS(NY)4.4
Fwd EY6.8%
FCF(TTM)4.53
FCFY7.01%
OCF(TTM)4.59
OCFY7.1%
SpS13.52
BVpS49.9
TBVpS36.14
PEG (NY)2.54
PEG (5Y)2.92
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 0.42%
ROE 3.61%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 13.31%
GM N/A
FCFM 33.52%
ROA(3y)0.83%
ROA(5y)0.87%
ROE(3y)8.4%
ROE(5y)8.21%
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 3Y-17.2%
PM growth 5Y-11.15%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.2
Debt/FCF 2.16
Debt/EBITDA N/A
Cap/Depr 13.98%
Cap/Sales 0.44%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 251.86%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score4
WACC13.75%
ROIC/WACCN/A
Cap/Depr(3y)52.99%
Cap/Depr(5y)56.97%
Cap/Sales(3y)1.92%
Cap/Sales(5y)2.41%
Profit Quality(3y)236.26%
Profit Quality(5y)186.73%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.16%
EPS 3Y7.54%
EPS 5Y4.81%
EPS Q2Q%8.33%
EPS Next Y5.54%
EPS Next 2Y-0.48%
EPS Next 3Y2.7%
EPS Next 5YN/A
Revenue 1Y (TTM)-20.67%
Revenue growth 3Y-1.76%
Revenue growth 5Y2.09%
Sales Q2Q%1.58%
Revenue Next Year0.93%
Revenue Next 2Y2.02%
Revenue Next 3Y0.67%
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-50.46%
FCF growth 3Y16.71%
FCF growth 5Y3.5%
OCF growth 1Y-51.51%
OCF growth 3Y13.76%
OCF growth 5Y2.91%

HEARTLAND FINANCIAL USA INC / HTLF FAQ

What is the fundamental rating for HTLF stock?

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


What is the valuation status of HEARTLAND FINANCIAL USA INC (HTLF) stock?

ChartMill assigns a valuation rating of 3 / 10 to HEARTLAND FINANCIAL USA INC (HTLF). This can be considered as Overvalued.


How profitable is HEARTLAND FINANCIAL USA INC (HTLF) stock?

HEARTLAND FINANCIAL USA INC (HTLF) has a profitability rating of 2 / 10.


What are the PE and PB ratios of HEARTLAND FINANCIAL USA INC (HTLF) stock?

The Price/Earnings (PE) ratio for HEARTLAND FINANCIAL USA INC (HTLF) is 14.06 and the Price/Book (PB) ratio is 1.3.


What is the expected EPS growth for HEARTLAND FINANCIAL USA INC (HTLF) stock?

The Earnings per Share (EPS) of HEARTLAND FINANCIAL USA INC (HTLF) is expected to grow by 5.54% in the next year.