Horizon Bancorp, Inc. (HBNC), Discounted Cash Flow Valuation

Horizon Bancorp, Inc. (HBNC) Company Profile

US | Financial Services | Banks - Regional | NASDAQ
13.29 0.27 (2.07%)
Real-Time Price (USD)
Market Cap A valuation method that multiplies the price of a company's shares by the total number of outstanding shares.
584.95M
Revenue (ttm) The total amount of income generated by the sale of goods or services related to the company's primary operations.
272.63M
Net Income (ttm) The company's earnings for a period net of operating costs, taxes and interest.
35.43M
Shares Out Total number of common shares outstanding as of the latest date disclosed in a financial filing.
43.72M
EPS (ttm) Company's net earnings or losses from continuing operations on a per diluted share basis.
0.8
PE Ratio The price-to-earnings (PE) ratio is the ratio between a company's stock price and earnings per share. It measures the price of a stock relative to its profits.
19.88
Dividend Yield Measures the cash returned to shareholders by a firm as a percentage of the price they pay for each share of stock.
4.02%
Exchange Name of stock exchange where the trading item trades.
NASDAQ
Avg Volume The average number of shares traded each day over the past 30 days.
177.88K
Open The opening trade price over the trading day.
13.04
Previous Close The last closing price.
13.02
Beta A ratio that measures the risk or volatility of a company's share price in comparison to the market as a whole.
0.86
1 day delta The range between the high and low prices over the past day.
13.04-13.49
52 weeks The range between the high and low prices over the past 52 weeks.
11.29-19.18

Total Valuation

Horizon Bancorp, Inc. has a market cap or net worth of 584.95M. The enterprise value is 1.75B.
Market Cap (ttm) Market Capitalization
A valuation method that multiplies the price of a company's shares by the total number of outstanding shares.
584.95M
Enterprise Value (ttm) Enterprise Value
Enterprise value measures the total value of a company's outstanding shares, adjusted for debt and levels of cash and short-term investments.
Enterprise Value = Market Cap + Total Debt - Cash & Equivalents - Short-Term Investments
1.75B

Valuation Ratios

The trailing PE ratio is 16.4. Horizon Bancorp, Inc.'s PEG ratio is 0.24.
PE Ratio (ttm) PE Ratio
The price-to-earnings (P/E) ratio is a valuation metric that shows how expensive a stock is relative to earnings.
PE Ratio = Stock Price / Earnings Per Share
16.4
PS Ratio (ttm) PS Ratio
The price-to-sales (P/S) ratio is a commonly used valuation metric. It shows how expensive a stock is compared to revenue.
PS Ratio = Market Capitalization / Revenue
2.15
PB Ratio (ttm) PB Ratio
The price-to-book (P/B) ratio measures a stock's price relative to book value. Book value is also called Shareholders' equity.
PB Ratio = Market Capitalization / Shareholders' Equity
0.76
P/FCF Ratio (ttm) P/FCF Ratio
The price to free cash flow (P/FCF) ratio is similar to the P/E ratio, except it uses free cash flow instead of accounting earnings.
P/FCF Ratio = Market Capitalization / Free Cash Flow
432.98
PEG Ratio (ttm) PEG Ratio
The price/earnings to growth (PEG) ratio is calculated by dividing a company's PE ratio by its expected earnings growth.
PEG Ratio = PE Ratio / Expected Earnings Growth
0.24

Enterprise Valuation

The stock's EV/EBITDA ratio is 31.09, with a EV/FCF ratio of 1.29K.
EV / Sales (ttm) EV / Sales Ratio
The enterprise value to sales (EV/Sales) ratio is similar to the price-to-sales ratio, but the price is adjusted for the company's debt and cash levels.
EV/Sales Ratio = Enterprise Value / Revenue
6.41
EV / EBITDA (ttm) EV / EBIT Ratio
The EV/EBITDA ratio measures a company's valuation relative to its EBITDA, or Earnings Before Interest, Taxes, Depreciation, and Amortization.
EV/EBITDA Ratio = Enterprise Value / EBITDA
31.09
EV / EBIT (ttm) EV/EBIT Ratio
The EV/EBIT is a valuation metric that measures a company's price relative to EBIT, or Earnings Before Interest and Taxes.
EV/EBIT Ratio = Enterprise Value / EBIT
271.67
EV / FCF (ttm) EV/FCF Ratio
The enterprise value to free cash flow (EV/FCF) ratio is similar to the price to free cash flow ratio, except the price is adjusted for the company's cash and debt.
EV/FCF Ratio = Enterprise Value / Free Cash Flow
1.29K

Financial Efficiency

Return on equity (ROE) is 4.78% and return on invested capital (ROIC) is 6.79%.
Return on Equity (ROE) (ttm) Return on Equity (ROE)
Return on equity (ROE) is a profitability metric that shows how efficient a company is at using its equity (or "net" assets) to generate profits. It is calculated by dividing the company's net income by the average shareholders' equity over the past 12 months.
ROE = (Net Income / Average Shareholders' Equity) * 100%
4.78%
Return on Assets (ROA) (ttm) Return on Assets (ROA)
Return on assets (ROA) is a metric that measures how much profit a company is able to generate using its assets. It is calculated by dividing net income by the average total assets for the past 12 months.
ROA = (Net Income / Average Total Assets) * 100%
0.45%
Return on Capital (ROIC) (ttm) Return on Capital (ROIC)
Return on invested capital (ROIC) measures how effective a company is at investing its capital in order to increase profits. It is calculated by dividing the EBIT (Earnings Before Interest & Taxes) by the average invested capital in the previous year.
ROIC = (EBIT / Average Invested Capital) * 100%
6.79%
Asset Turnover Asset Turnover
The asset turnover ratio measures the amount of sales relative to a company's assets. It indicates how efficiently the company uses its assets to generate revenue.
Asset Turnover Ratio = Revenue / Average Assets
0.05
Inventory Turnover (ttm) Inventory Turnover
The inventory turnover ratio measures how many times inventory has been sold and replaced during a time period.
Inventory Turnover Ratio = Cost of Revenue / Average Inventory
0

Margins

Trailing 12 months gross margin is 116.62%, with operating and profit margins of 11.80% and 13.00%.
Gross Margin (ttm) Gross Margin
Gross margin is the percentage of revenue left as gross profits, after subtracting cost of goods sold from the revenue.
Gross Margin = (Gross Profit / Revenue) * 100%
116.62%
Operating Margin (ttm) Operating Margin
Operating margin is the percentage of revenue left as operating income, after subtracting cost of revenue and all operating expenses from the revenue.
Operating Margin = (Operating Income / Revenue) * 100%
11.80%
Pretax Margin (ttm) Pretax Margin
Pretax margin is the percentage of revenue left as profits before subtracting taxes.
Pretax Margin = (Pretax Income / Revenue) * 100%
10.03%
Profit Margin (ttm) Profit Margin
Profit margin is the percentage of revenue left as net income, or profits, after subtracting all costs and expenses from the revenue.
Profit Margin = (Net Income / Revenue) * 100%
13.00%
EBITDA Margin (ttm) EBITDA Margin
EBITDA margin is the percentage of revenue left as EBITDA, after subtracting all expenses except interest, taxes, depreciation and amortization from revenue.
EBITDA Margin = (EBITDA / Revenue) * 100%
20.63%

Income Statement

In the last 12 months, Horizon Bancorp, Inc. had revenue of 272.63M and earned 35.43M in profits. Earnings per share (EPS) was 0.8.
Revenue (ttm) Revenue
Revenue is the amount of money a company receives from its main business activities, such as sales of products or services. Revenue is also called sales.
272.63M
Gross Profit (ttm) Gross Profit
Gross profit is a company’s profit after subtracting the costs directly linked to making and delivering its products and services.
Gross Profit = Revenue - Cost of Revenue
317.95M
Operating Income (ttm) Operating Income
Operating income is the amount of profit in a company after paying for all the expenses related to its core operations.
Operating Income = Revenue - Cost of Revenue - Operating Expenses
32.16M
Pretax Income (ttm) Pretax Income
Pretax income is a company's profits before accounting for income taxes.
Pretax Income = Net Income + Income Taxes
27.35M
Net Income (ttm) Net Income
Net income is a company's accounting profits after subtracting all costs and expenses from the revenue. It is also called earnings, profits or "the bottom line"
Net Income = Revenue - All Expenses
35.43M
EBITDA (ttm) EBITDA
EBITDA stands for "Earnings Before Interest, Taxes, Depreciation and Amortization." It is a commonly used measure of profitability.
EBITDA = Net Income + Interest + Taxes + Depreciation and Amortization
56.24M
EBIT (ttm) EBIT
EBIT stands for "Earnings Before Interest and Taxes" and is a commonly used measure of earnings or profits. It is similar to operating income.
EBIT = Net Income + Interest + Taxes
47.89M
Earnings Per Share (EPS) (ttm) EPS (Diluted)
Earnings per share is the portion of a company's profit that is allocated to each individual stock. Diluted EPS is calculated by dividing net income by "diluted" shares outstanding.
Diluted EPS = Net Income / Shares Outstanding (Diluted)
0.8

Financial Position

The company has a trailing 12 months (ttm) current ratio of 32.84, with a ttm Debt / Equity ratio of 1.64.
Current Ratio (ttm) Current Ratio
The current ratio is used to measure a company's short-term liquidity. A low number can indicate that a company will have trouble paying its upcoming liabilities.
Current Ratio = Current Assets / Current Liabilities
32.84
Quick Ratio (ttm) Quick Ratio
The quick ratio measure a company's short-term liquidity. A low number indicates that the company may have trouble paying its upcoming financial obligations.
Quick Ratio = (Cash + Short-Term Investments + Accounts Receivable) / Current Liabilities
32.84
Debt / Equity (ttm) Debt / Equity Ratio
The debt-to-equity ratio measures a company's debt levels relative to its shareholders' equity or book value. A high ratio implies that a company has a lot of debt.
Debt / Equity Ratio = Total Debt / Shareholders' Equity
1.64
Debt / EBIT (ttm) Debt / EBIT Ratio
The debt-to-EBIT ratio is a company's debt levels relative to its trailing twelve-month EBIT. A high ratio implies that debt is high relative to the company's earnings.
Debt / EBIT Ratio = Total Debt / EBIT (ttm)
0.85

Dividends & Yields

This stock pays an annual dividend of 0.64, which amounts to a dividend yield of 4.82%.
Dividend Per Share (ttm) Dividend Per Share
Total amount paid to each outstanding share in dividends during the period.
0.64
Dividend Yield (ttm) Dividend Yield
The dividend yield is how much a stock pays in dividends each year, as a percentage of the stock price.
Dividend Yield = (Annual Dividends Per Share / Stock Price) * 100%
4.82%
Earnings Yield (ttm) Earnings Yield
The earnings yield is a valuation metric that measures a company's profits relative to stock price, expressed as a percentage yield. It is the inverse of the P/E ratio.
Earnings Yield = (Earnings Per Share / Stock Price) * 100%
6.10%
FCF Yield (ttm) FCF Yield
The free cash flow (FCF) yield measures a company's free cash flow relative to its price, shown as a percentage. It is the inverse of the P/FCF ratio.
FCF Yield = (Free Cash Flow / Market Cap) * 100%
0.23%
Dividend Growth (YoY) Dividend Growth
The change in dividend payments per share, compared to the previous period.
Dividend Growth = ((Current Dividend / Previous Dividend) - 1) * 100%
-0.14%
Payout Ratio (ttm) Payout Ratio
The payout ratio is the percentage of a company's profits that are paid out as dividends. A high ratio implies that the dividend payments may not be sustainable.
Payout Ratio = (Dividends Per Share / Earnings Per Share) * 100%
79.96%

Balance Sheet

The company has 92.3M in cash and 1.26B in debt, giving a net cash position of -1.16B.
Cash & Cash Equivalents Cash & Cash Equivalents
Cash and cash equivalents is the sum of "Cash & Equivalents" and "Short-Term Investments." This is the amount of money that a company has quick access to, assuming that the cash equivalents and short-term investments can be sold at a short notice.
Cash & Cash Equivalents = Cash & Equivalents + Short-Term Investments
92.3M
Total Debt Total Debt
Total debt is the total amount of liabilities categorized as "debt" on the balance sheet. It includes both current and long-term (non-current) debt.
Total Debt = Current Debt + Long-Term Debt
1.26B
Net Cash Net Cash / Debt
Net Cash / Debt is an indicator of the financial position of a company. It is calculated by taking the total amount of cash and cash equivalents and subtracting the total debt.
Net Cash / Debt = Total Cash - Total Debt
-1.16B
Book Value Shareholders' Equity
Shareholders’ equity is also called book value or net worth. It can be seen as the amount of money held by investors inside the company. It is calculated by subtracting all liabilities from all assets.
Shareholders' Equity = Total Assets - Total Liabilities
763.58M
Book Value Per Share (ttm) Book Value Per Share
Book value per share is the total amount of book value attributable to each individual stock. It is calculated by dividing book value (shareholders' equity) by the number of outstanding shares.
Book Value Per Share = Book Value / Shares Outstanding
17.46
Working Capital (ttm) Working Capital
Working capital is the amount of money available to a business to conduct its day-to-day operations. It is calculated by subtracting total current liabilities from total current assets.
Working Capital = Current Assets - Current Liabilities
354.59M

Cash Flow

In the last 12 months, operating cash flow of the company was 6.43M and capital expenditures -5.08M, giving a free cash flow of 1.35M.
Operating Cash Flow (ttm) Operating Cash Flow
Operating cash flow, also called cash flow from operating activities, measures the amount of cash that a company generates from normal business activities. It is the amount of cash left after all cash income has been received, and all cash expenses have been paid.
6.43M
Capital Expenditures (ttm) Capital Expenditures
Capital expenditures are also called payments for property, plants and equipment. It measures cash spent on long-term assets that will be used to run the business, such as manufacturing equipment, real estate and others.
-5.08M
Free Cash Flow (ttm) Free Cash Flow
Free cash flow is the cash remaining after the company spends on everything required to maintain and grow the business. It is calculated by subtracting capital expenditures from operating cash flow.
Free Cash Flow = Operating Cash Flow - Capital Expenditures
1.35M
FCF Per Share (ttm) Free Cash Flow Per Share
Free cash flow per share is the amount of free cash flow attributed to each outstanding stock.
FCF Per Share = Free Cash Flow / Shares Outstanding
0.03

Horizon Bancorp, Inc. News

Apr 10, 2025 - seekingalpha.com
Horizon Bancorp: Attractive Ahead Of Q1 Earnings
Horizon Bancorp shares have declined 25% from their highs, presenting a buying opportunity ahead of their April 23rd earnings report. The bank has undergone a smooth management transition, with a new CEO and independent chairman, posing a modest but acceptable risk. Horizon's balance sheet repositioning has boosted net interest margins, and the bank is well-capitalized with an 11% CET1 ratio....[read more]
Apr 1, 2025 - globenewswire.com
Horizon Bancorp, Inc. Announces Conference Call to Review First Quarter Results on April 24
Horizon Bancorp, Inc. (“Horizon” or the “Company”) will host a conference call at 7:30 a.m. CT on Thursday, April 24, 2025 to review its first quarter 2025...[read more]
Mar 29, 2025 - seekingalpha.com
Horizon Bancorp Appears Undervalued With A Positive Earnings Outlook
The loan growth will likely slow down significantly this year because of a planned runoff of auto loans. Further, the outlook for commercial loans is lackluster. The recent sales of AFS Securities and the Mortgage Warehouse business will lift the net interest margin. Further, interest rate cuts will benefit the margin. I'm expecting earnings to grow to $1.75 per share in 2025 from $0.80 per share in 2024....[read more]
Mar 25, 2025 - zacks.com
Horizon Bancorp (HBNC) Moves to Strong Buy: Rationale Behind the Upgrade
Horizon Bancorp (HBNC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term....[read more]
Mar 25, 2025 - zacks.com
Best Income Stocks to Buy for March 25th
ALX, HAFC and HBNC made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 25, 2025....[read more]
Mar 14, 2025 - zacks.com
Best Income Stocks to Buy for March 14th
CRGY, HBNC and HFWA made it to the Zacks Rank #1 (Strong Buy) income stocks list on March 14, 2025....[read more]
Feb 26, 2025 - globenewswire.com
Horizon Bancorp, Inc. Announces Retirement of Craig Dwight as Chairman and Enhancements to Board of Directors Structure
MICHIGAN CITY, Ind., Feb. 26, 2025 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) Horizon Bancorp, Inc. (“Horizon” or the “Company”) announced that Craig Dwight, Chairman of Board, will retire from the Board of Directors effective at the expiration of his current term on May 1, 2025....[read more]
Feb 5, 2025 - zacks.com
Best Income Stocks to Buy for February 5th
RITM, HBNC and EBMT made it to the Zacks Rank #1 (Strong Buy) income stocks list on February 5, 2025....[read more]
Jan 23, 2025 - seekingalpha.com
Horizon Bancorp, Inc. (HBNC) Q4 2024 Earnings Call Transcript
Horizon Bancorp, Inc. (NASDAQ:HBNC ) Q4 2024 Earnings Conference Call January 23, 2025 8:30 AM ET Company Participants Thomas Prame - President and Chief Executive Officer Lynn Kerber - Executive Vice President and Chief Commercial Banking Officer John Stewart - Executive Vice President and Chief Financial Officer Conference Call Participants Brendan Nosal - Hovde Group Terry McEvoy - Stephens Nathan Race - Piper Sandler Damon DelMonte - KBW David Long - Raymond James Brian Martin - Janney Montg...[read more]
Jan 22, 2025 - zacks.com
Horizon Bancorp (HBNC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
The headline numbers for Horizon Bancorp (HBNC) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals....[read more]

Horizon Bancorp, Inc. Details

Country US
City Michigan City
Address 515 Franklin Street
Ticker Symbol HBNC
Exchange NASDAQ Global Select
IPO Date Jan 9, 2002
CEO Mr. Thomas M. Prame
Sector Financial Services
Industry Banks - Regional
Employees 841

Horizon Bancorp, Inc. Company Description

Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products. It operates through a network of 78 full-service offices in northern and central Indiana and southern and central Michigan. Horizon Bancorp, Inc. was founded in 1873 and is headquartered in Michigan City, Indiana.

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