HORIZON BANCORP INC/IN (HBNC) Stock Fundamental Analysis
NASDAQ:HBNC - Nasdaq - US4404071049 - Common Stock
Taking everything into account, HBNC scores 3 out of 10 in our fundamental rating. HBNC was compared to 405 industry peers in the Banks industry. HBNC may be in some trouble as it scores bad on both profitability and health. HBNC has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year HBNC was profitable.
HBNC had a positive operating cash flow in the past year.
HBNC had positive earnings in each of the past 5 years.
HBNC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.27%, HBNC is doing worse than 85.68% of the companies in the same industry.
The Return On Equity of HBNC (2.79%) is worse than 85.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.27% | ||
| ROE | 2.79% | ||
| 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
With a Profit Margin value of 11.15%, HBNC is not doing good in the industry: 81.41% of the companies in the same industry are doing better.
In the last couple of years the Profit Margin of HBNC has declined.
HBNC does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 11.15% | ||
| 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.
HBNC has more shares outstanding than it did 1 year ago.
HBNC has more shares outstanding than it did 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 21.20, which is on the high side as it means it would take HBNC, 21.20 years of fcf income to pay off all of its debts.
HBNC's Debt to FCF ratio of 21.20 is on the low side compared to the rest of the industry. HBNC is outperformed by 77.89% of its industry peers.
HBNC has a Debt/Equity ratio of 1.99. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.99, HBNC is not doing good in the industry: 91.96% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.99 | ||
| Debt/FCF | 21.2 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC9.13%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
HBNC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.82%.
The Earnings Per Share has been growing slightly by 2.30% on average over the past years.
HBNC shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -14.60%.
Measured over the past years, HBNC shows a small growth in Revenue. The Revenue has been growing by 2.13% on average per year.
EPS 1Y (TTM)-18.82%
EPS 3Y-1.46%
EPS 5Y2.3%
EPS Q2Q%10.81%
Revenue 1Y (TTM)-14.6%
Revenue growth 3Y-5.87%
Revenue growth 5Y2.13%
Sales Q2Q%8.35%
3.2 Future
HBNC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.80% yearly.
HBNC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.37% yearly.
EPS Next Y-5.94%
EPS Next 2Y5.33%
EPS Next 3Y5.8%
EPS Next 5YN/A
Revenue Next Year3.74%
Revenue Next 2Y8.6%
Revenue Next 3Y7.37%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
HBNC is valuated reasonably with a Price/Earnings ratio of 11.29.
Based on the Price/Earnings ratio, HBNC is valued a bit cheaper than the industry average as 70.60% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of HBNC to the average of the S&P500 Index (28.29), we can say HBNC is valued rather cheaply.
With a Price/Forward Earnings ratio of 9.06, the valuation of HBNC can be described as very reasonable.
HBNC's Price/Forward Earnings ratio is rather cheap when compared to the industry. HBNC is cheaper than 82.16% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.44, HBNC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.29 | ||
| Fwd PE | 9.06 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, HBNC is valued a bit cheaper than the industry average as 65.58% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.48 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)4.91
EPS Next 2Y5.33%
EPS Next 3Y5.8%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.09%, HBNC is a good candidate for dividend investing.
HBNC's Dividend Yield is a higher than the industry average which is at 3.22.
HBNC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.28.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.09% |
5.2 History
On average, the dividend of HBNC grows each year by 9.88%, which is quite nice.
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)9.88%
Div Incr Years8
Div Non Decr Years9
5.3 Sustainability
HBNC pays out 134.12% of its income as dividend. This is not a sustainable payout ratio.
HBNC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP134.12%
EPS Next 2Y5.33%
EPS Next 3Y5.8%
HORIZON BANCORP INC/IN
NASDAQ:HBNC (1/22/2025, 11:35:02 AM)
15.58
-0.37 (-2.32%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners69.33%
Inst Owner Change-0.04%
Ins Owners2.65%
Ins Owner Change0%
Market Cap681.16M
Analysts80
Price Target19.21 (23.3%)
Short Float %1.71%
Short Ratio4.21
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.09% |
Yearly Dividend0.64
Dividend Growth(5Y)9.88%
DP134.12%
Div Incr Years8
Div Non Decr Years9
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.48%
Min EPS beat(2)0.23%
Max EPS beat(2)8.74%
EPS beat(4)4
Avg EPS beat(4)3.82%
Min EPS beat(4)0.23%
Max EPS beat(4)8.74%
EPS beat(8)6
Avg EPS beat(8)2.76%
EPS beat(12)8
Avg EPS beat(12)2.51%
EPS beat(16)12
Avg EPS beat(16)6.96%
Revenue beat(2)0
Avg Revenue beat(2)-2.15%
Min Revenue beat(2)-3.31%
Max Revenue beat(2)-0.99%
Revenue beat(4)0
Avg Revenue beat(4)-16.88%
Min Revenue beat(4)-59.15%
Max Revenue beat(4)-0.99%
Revenue beat(8)1
Avg Revenue beat(8)-12.01%
Revenue beat(12)3
Avg Revenue beat(12)-9.98%
Revenue beat(16)4
Avg Revenue beat(16)-7.91%
PT rev (1m)5.12%
PT rev (3m)14.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.55%
EPS NY rev (1m)0%
EPS NY rev (3m)3.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.08%
Revenue NY rev (1m)0.06%
Revenue NY rev (3m)-1.16%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.29 | ||
| Fwd PE | 9.06 | ||
| P/S | 3.6 | ||
| P/FCF | 10.48 | ||
| P/OCF | 9.78 | ||
| P/B | 0.9 | ||
| P/tB | 1.16 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.38
EY8.86%
EPS(NY)1.72
Fwd EY11.04%
FCF(TTM)1.49
FCFY9.54%
OCF(TTM)1.59
OCFY10.23%
SpS4.33
BVpS17.26
TBVpS13.46
PEG (NY)N/A
PEG (5Y)4.91
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.27% | ||
| ROE | 2.79% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 11.15% | ||
| GM | N/A | ||
| FCFM | 34.36% |
ROA(3y)0.9%
ROA(5y)1.03%
ROE(3y)9.91%
ROE(5y)9.95%
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-21.18%
PM growth 5Y-13.86%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.02
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.99 | ||
| Debt/FCF | 21.2 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 43.47% | ||
| Cap/Sales | 2.46% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 308.19% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score5
WACC9.13%
ROIC/WACCN/A
Cap/Depr(3y)48.21%
Cap/Depr(5y)50.96%
Cap/Sales(3y)2.44%
Cap/Sales(5y)2.44%
Profit Quality(3y)168.28%
Profit Quality(5y)173.53%
High Growth Momentum
Growth
EPS 1Y (TTM)-18.82%
EPS 3Y-1.46%
EPS 5Y2.3%
EPS Q2Q%10.81%
EPS Next Y-5.94%
EPS Next 2Y5.33%
EPS Next 3Y5.8%
EPS Next 5YN/A
Revenue 1Y (TTM)-14.6%
Revenue growth 3Y-5.87%
Revenue growth 5Y2.13%
Sales Q2Q%8.35%
Revenue Next Year3.74%
Revenue Next 2Y8.6%
Revenue Next 3Y7.37%
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-31.56%
FCF growth 3Y3.6%
FCF growth 5Y3.3%
OCF growth 1Y-30.74%
OCF growth 3Y4.07%
OCF growth 5Y4.2%