Heritage Financial Corporation (HFWA) — Cash Flow Quality Index
Heritage Financial Corporation (HFWA) has a Cash Flow Quality Index of 1.32x as of June 2026. Operating cash flow of $23.09 Million exceeds net income of $17.55 Million, indicating high earnings quality where cash backs reported profits. Explore how well can Heritage Financial Corporation service its debt to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Heritage Financial Corporation Cash Flow Quality Index (1997–2025)
Historical Cash Flow Quality Index for Heritage Financial Corporation across 29 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see HFWA operating cash flow.
Annual Cash Flow Quality Index for Heritage Financial Corporation (1997–2025)
Year-by-year earnings quality comparison for Heritage Financial Corporation.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.40x | $94.82 Million | $67.53 Million | ▼ -5.8% |
| 2024 | 1.49x | $64.48 Million | $43.26 Million | ▼ -15.9% |
| 2023 | 1.77x | $109.52 Million | $61.76 Million | ▲ +53.7% |
| 2022 | 1.15x | $94.46 Million | $81.88 Million | ▲ +62.7% |
| 2021 | 0.71x | $69.53 Million | $98.03 Million | ▼ -53.0% |
| 2020 | 1.51x | $70.33 Million | $46.57 Million | ▲ +16.4% |
| 2019 | 1.30x | $87.61 Million | $67.56 Million | ▼ -23.9% |
| 2018 | 1.70x | $90.41 Million | $53.06 Million | ▼ -3.1% |
| 2017 | 1.76x | $73.51 Million | $41.79 Million | ▲ +26.8% |
| 2016 | 1.39x | $53.98 Million | $38.92 Million | ▲ +1.2% |
| 2015 | 1.37x | $51.40 Million | $37.49 Million | ▼ -43.9% |
| 2014 | 2.44x | $51.34 Million | $21.01 Million | ▼ -24.3% |
| 2013 | 3.23x | $30.90 Million | $9.57 Million | ▲ +53.5% |
| 2012 | 2.10x | $27.88 Million | $13.26 Million | ▼ -34.3% |
| 2011 | 3.20x | $20.87 Million | $6.52 Million | ▲ +58.0% |
| 2010 | 2.03x | $27.07 Million | $13.35 Million | ▼ -88.1% |
| 2009 | 16.98x | $9.87 Million | $581.00K | ▲ +596.5% |
| 2008 | 2.44x | $15.48 Million | $6.35 Million | ▲ +97.5% |
| 2007 | 1.23x | $13.22 Million | $10.71 Million | ▲ +23.6% |
| 2006 | 1.00x | $10.53 Million | $10.55 Million | ▼ -20.8% |
| 2005 | 1.26x | $13.20 Million | $10.48 Million | ▼ -21.4% |
| 2004 | 1.60x | $15.38 Million | $9.59 Million | ▼ -25.4% |
| 2003 | 2.15x | $19.15 Million | $8.90 Million | ▲ +149.2% |
| 2002 | 0.86x | $8.13 Million | $9.42 Million | ▼ -29.8% |
| 2001 | 1.23x | $8.56 Million | $6.96 Million | ▲ +60.2% |
| 2000 | 0.77x | $4.58 Million | $5.97 Million | ▼ -72.7% |
| 1999 | 2.81x | $15.20 Million | $5.40 Million | ▲ +55.2% |
| 1998 | 1.81x | $7.80 Million | $4.30 Million | ▲ +63.3% |
| 1997 | 1.11x | $4.00 Million | $3.60 Million | — |