Heartland Financial USA
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
11.9711.7114.8621.3412.4012.0010.909.729.3322.3832.2612.40
Price/Sales ratio
1.772.082.933.732.783.142.473.102.723.232.962.78
Price/Book Value ratio
1.011.061.611.621.091.130.720.981.140.921.281.09
Price/Cash Flow ratio
6.236.938.0610.305.9711.107.906.555.106.3814.975.97
Price/Free Cash Flow ratio
6.797.538.6610.876.3012.498.756.925.306.5414.636.30
Price/Earnings Growth ratio
1.770.610.91-1.170.300.70-0.800.24-2.22-0.3211.130.30
Dividend Yield
1.63%1.44%1.07%0.90%1.33%1.37%2.12%2.27%2.73%3.30%1.94%1.33%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%100.02%100%
Operating Profit Margin
36.89%39.65%42.73%41.06%37.83%32.33%28.66%39.95%47.30%24.45%5.46%32.33%
Pretax Profit Margin
19.42%23.95%28.73%27.70%27.87%32.33%28.66%39.95%36.80%17.49%11.86%32.33%
Net Profit Margin
14.79%17.77%19.75%17.51%22.46%26.19%22.72%31.92%29.16%14.44%9.53%26.19%
Effective Tax Rate
23.81%25.81%31.26%36.79%19.43%19.00%20.72%20.10%20.75%17.41%19.57%19.43%
Return on Assets
0.69%0.78%0.97%0.76%1.02%1.12%0.77%1.14%1.04%0.41%0.46%1.12%
Return On Equity
8.44%9.05%10.84%7.59%8.82%9.44%6.63%10.07%12.22%4.13%4.21%9.44%
Return on Capital Employed
1.74%1.74%2.11%1.80%1.74%1.41%0.98%1.43%1.73%0.70%0.35%1.41%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/A1.30N/AN/AN/A0.12N/A
Quick Ratio
105.02401.05301.42271.91137.9649.6763.1881.7935.552.120.1249.67
Cash ratio
1.0010.004.384.242.492.092.033.330.962.120.122.09
Days of Sales Outstanding
4.94K5.35KN/A5.37K5.14KN/AN/AN/AN/AN/AN/AN/A
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Debt Ratios
Debt Ratio
0.070.030.030.060.040.030.030.020.030.050.010.03
Debt Equity Ratio
0.950.390.430.610.370.290.300.230.430.510.100.29
Long-term Debt to Capitalization
0.440.280.280.220.170.140.180.140.170.160.090.14
Total Debt to Capitalization
0.480.280.300.380.270.220.230.180.300.340.090.22
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.22N/A
Cash Flow to Debt Ratio
0.170.380.450.250.480.350.300.640.510.280.820.48
Company Equity Multiplier
12.1911.6011.139.898.608.378.618.8311.6610.048.538.37
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.280.300.360.360.460.280.310.470.530.500.200.28
Free Cash Flow / Operating Cash Flow Ratio
0.910.920.930.940.940.880.900.940.960.970.980.94
Cash Flow Coverage Ratio
0.170.380.450.250.480.350.300.640.510.280.820.48
Short Term Coverage Ratio
1.05N/A4.030.481.060.881.132.471.030.44N/A0.88
Dividend Payout Ratio
19.57%16.94%16.01%19.33%16.54%16.50%23.13%22.08%25.56%74.01%69.73%16.54%