HFWA
Heritage Financial
PE ratio, current and historical analysis
- Stocks
- Financial Services
- NASDAQ: HFWA
- PE Ratio
As of Jul 13, 2026, the Heritage Financial stock's PE ratio is 14.4. This takes into account the latest EPS of $2.07 and stock price of $29.81. The PE ratio has grown by 4.2% from its last 4 quarters average of 13.8.
HFWA PE ratio history
The PE ratio of Heritage Financial has averaged 15.49 over the last ten years. The current P/E ratio of 14.4 is 7% lower than the historical average. Looking back at the last ten years, HFWA's PE ratio peaked in the Jun 2018 quarter at 26.81, when the price was $34.85 and the EPS was $1.3. The lowest point was in the Jun 2023 quarter, when it reached 7.03 with a price of $16.17 and an EPS of $2.3.
Heritage Financial PE ratio by year
Maximum annual increase: 125.49% in 2011
Maximum annual decrease: -50.97% in 2021
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 11.88 | -38.89% | $23.65 | $1.99 |
| 2024 | 19.44 | 60% | $24.5 | $1.26 |
| 2023 | 12.15 | -7.6% | $21.39 | $1.76 |
| 2022 | 13.15 | 47.92% | $30.64 | $2.33 |
| 2021 | 8.89 | -50.97% | $24.44 | $2.75 |
| 2020 | 18.13 | 17.88% | $23.39 | $1.29 |
| 2019 | 15.38 | -22.91% | $28.3 | $1.84 |
| 2018 | 19.95 | -9.97% | $29.72 | $1.49 |
| 2017 | 22.16 | 11.86% | $30.8 | $1.39 |
| 2016 | 19.81 | 31.45% | $25.75 | $1.3 |
| 2015 | 15.07 | -29.58% | $18.84 | $1.25 |
| 2014 | 21.4 | -23.65% | $17.55 | $0.82 |
| 2013 | 28.03 | 65.96% | $17.1 | $0.61 |
| 2012 | 16.89 | -43.51% | $14.69 | $0.87 |
| 2011 | 29.9 | 125.49% | $12.56 | $0.42 |
Heritage Financial PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 12.56 | 5.72% | $26 | $2.07 |
| Dec 2025 | 11.88 | -17.5% | $23.65 | $1.99 |
| Sep 2025 | 14.4 | -12.41% | $24.19 | $1.68 |
| Jun 2025 | 16.44 | 1.36% | $23.84 | $1.45 |
| Mar 2025 | 16.22 | -16.56% | $24.33 | $1.5 |
| Dec 2024 | 19.44 | -2.65% | $24.5 | $1.26 |
| Sep 2024 | 19.97 | 41.73% | $21.77 | $1.09 |
| Jun 2024 | 14.09 | -1.88% | $18.03 | $1.28 |
| Mar 2024 | 14.36 | 18.19% | $19.39 | $1.35 |
| Dec 2023 | 12.15 | 65.31% | $21.39 | $1.76 |
| Sep 2023 | 7.35 | 4.55% | $16.31 | $2.22 |
| Jun 2023 | 7.03 | -22.83% | $16.17 | $2.3 |
| Mar 2023 | 9.11 | -30.72% | $21.4 | $2.35 |
| Dec 2022 | 13.15 | 11.82% | $30.64 | $2.33 |
| Sep 2022 | 11.76 | 4.26% | $26.47 | $2.25 |
HFWA Price vs fair value
HFWA average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
Currently, HFWA's PE ratio is higher than its 5-year average, but it is lower than its 3 and 10-year averages.
PE comparison
With a price to earnings (P/E) of 14.4, HFWA ranks higher than the Financial Services sector, the industry and its peers average. In comparison with the Financial Services sector average of 13.38, Heritage Financial's price to earnings (P/E) is 8% higher.
HFWA PE vs peers
HFWA's PE ratio stands higher than its peer stocks COLB and BANR. Heritage Financial's current PE ratio of 14.4 is higher than the average of its peers, which is 11.92.
| Stock name | PE ratio | Market cap |
|---|---|---|
| BANR Banner Corp | 11.49 | $2.33B |
| BWFG Bankwell Financial Group Inc | 11.65 | $466.19M |
| SHBI Shore Bancshares Inc | 12.09 | $756.44M |
| COLB Columbia Banking System Inc | 12.44 | $9.26B |
| HFWA Heritage Financial Corp | 14.4 | $1.23B |
Frequently asked questions
What is Heritage Financial's PE ratio?
As of Jul 13, 2026, HFWA stock has a price to earnings ratio of 14.4.
What is the 3-year average PE ratio for Heritage Financial (HFWA)?
The 3-year average price to earnings ratio for HFWA stock is 14.44.
What is the 5-year average PE ratio for Heritage Financial (HFWA)?
The 5-year average price to earnings ratio for HFWA stock is 12.56.
What is the highest PE ratio for HFWA?
Over the last ten years, the quarterly PE ratio reached its highest level at 26.81 in the Jun 2018 quarter.
How does the current PE ratio for HFWA compare to its historical average?
HFWA's price to earnings ratio is currently 7% below its 10-year historical average.
How is HFWA's PE ratio calculated (Heritage Financial PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Jul 13, 2026), Heritage Financial's share price is $29.81. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $2.07. Therefore, Heritage Financial's PE ratio for today is 14.4. PE RATIO(14.4) = STOCK PRICE($29.81) / TTM EPS($2.07)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.