Heritage Financial Corporation Net Assets
Heritage Financial Corporation net assets. Based on the latest financial reports, Heritage Financial Corporation (HFWA) has net assets worth $1.11 Billion USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($8.43 Billion) and total liabilities ($7.32 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore HFWA year-over-year net asset growth to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.11 Billion |
| % of Total Assets | 13.16% |
| Annual Growth Rate | 8.5% |
| 5-Year Change | -87.57% |
| 10-Year Change | -75.62% |
| Growth Volatility | 277.39 |
Net Assets of Heritage Financial Corporation (1997–2025)
Net assets of Heritage Financial Corporation from 1997 to 2025. This chart illustrates how Heritage Financial Corporation's net assets have evolved over time, based on quarterly financial data. See how leveraged is Heritage Financial Corporation's balance sheet to measure how much of total assets are equity-financed.
Annual Net Assets for Heritage Financial Corporation (1997–2025)
The table below shows the annual net assets of Heritage Financial Corporation from 1997 to 2025. For live market cap and overall valuation, see Heritage Financial Corporation (HFWA) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $921.50 Million | +6.71% |
| 2024-12-31 | $863.53 Million | +1.20% |
| 2023-12-31 | $853.26 Million | -87.74% |
| 2022-12-31 | $6.96 Billion | -6.11% |
| 2021-12-31 | $7.41 Billion | +12.39% |
| 2020-12-31 | $6.59 Billion | +19.20% |
| 2019-12-31 | $5.53 Billion | +4.45% |
| 2018-12-31 | $5.30 Billion | +32.39% |
| 2017-12-31 | $4.00 Billion | +5.85% |
| 2016-12-31 | $3.78 Billion | +4.08% |
| 2015-12-31 | $3.63 Billion | +5.60% |
| 2014-12-31 | $3.44 Billion | +1493.73% |
| 2013-12-31 | $215.76 Million | +8.46% |
| 2012-12-31 | $198.94 Million | -1.77% |
| 2011-12-31 | $202.52 Million | +0.12% |
| 2010-12-31 | $202.28 Million | +27.62% |
| 2009-12-31 | $158.50 Million | +40.08% |
| 2008-12-31 | $113.15 Million | +33.17% |
| 2007-12-31 | $84.97 Million | +8.05% |
| 2006-12-31 | $78.64 Million | +18.93% |
| 2005-12-31 | $66.12 Million | +8.49% |
| 2004-12-31 | $60.94 Million | -2.07% |
| 2003-12-31 | $62.23 Million | -14.04% |
| 2002-12-31 | $72.40 Million | -7.81% |
| 2001-12-31 | $78.53 Million | -5.39% |
| 2000-12-31 | $83.00 Million | -12.90% |
| 1999-12-31 | $95.30 Million | +1.49% |
| 1998-12-31 | $93.90 Million | 0.00% |
| 1997-12-31 | $93.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Heritage Financial Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1613.9% over the analyzed period, indicating profitable operations and earnings retention.
Heritage Financial Corporation Net Assets Breakdown (December 2025)
Heritage Financial Corporation net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $421.62 Million | 45.75% |
| Common Stock | $531.10 Million | 57.63% |
| Other Comprehensive Income | $-31.21 Million | -3.39% |
| Total Equity | $921.50 Million | 100.00% |
Heritage Financial Corporation Competitors by Market Cap
The table below lists competitors of Heritage Financial Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shandong Bailong Chuangyuan Bio-Tech Co. Ltd.
SHG:605016
|
$1.16 Billion |
|
Vizsla Silver Corp.
TO:VZLA
|
$1.16 Billion |
|
Shelly Group SE
XETRA:SLYG
|
$1.16 Billion |
|
Darbond Technology Co. Ltd. A
SHG:688035
|
$1.16 Billion |
|
Columbia Financial Inc
NASDAQ:CLBK
|
$1.16 Billion |
|
Feng Hsin Steel Co Ltd
TW:2015
|
$1.16 Billion |
|
Ayalon Holdings Ltd
TA:AYAL
|
$1.16 Billion |
|
Gravita India Limited
NSE:GRAVITA
|
$1.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Heritage Financial Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 863,527,000 to 921,504,000, a change of 57,977,000 (6.7%).
- Net income of 67,532,000 contributed positively to equity growth.
- Dividend payments of 32,649,000 reduced retained earnings.
- Share repurchases of 5,517,000 reduced equity.
- Other comprehensive income increased equity by 24,029,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $67.53 Million | +7.33% |
| Dividends Paid | $32.65 Million | -3.54% |
| Share Repurchases | $5.52 Million | -0.6% |
| Other Comprehensive Income | $24.03 Million | +2.61% |
| Other Changes | $4.58 Million | +0.5% |
| Total Change | $- | 6.71% |
Book Value vs Market Value Analysis
This analysis compares Heritage Financial Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.09x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.17x to 1.09x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | $9.19 | $29.18 | x |
| 1998-12-31 | $8.32 | $29.18 | x |
| 1999-12-31 | $8.24 | $29.18 | x |
| 2000-12-31 | $8.60 | $29.18 | x |
| 2001-12-31 | $9.19 | $29.18 | x |
| 2002-12-31 | $9.29 | $29.18 | x |
| 2003-12-31 | $8.80 | $29.18 | x |
| 2004-12-31 | $9.03 | $29.18 | x |
| 2005-12-31 | $10.39 | $29.18 | x |
| 2006-12-31 | $11.93 | $29.18 | x |
| 2007-12-31 | $12.74 | $29.18 | x |
| 2008-12-31 | $17.02 | $29.18 | x |
| 2009-12-31 | $20.24 | $29.18 | x |
| 2010-12-31 | $18.10 | $29.18 | x |
| 2011-12-31 | $13.07 | $29.18 | x |
| 2012-12-31 | $13.18 | $29.18 | x |
| 2013-12-31 | $13.93 | $29.18 | x |
| 2014-12-31 | $134.97 | $29.18 | x |
| 2015-12-31 | $121.81 | $29.18 | x |
| 2016-12-31 | $127.30 | $29.18 | x |
| 2017-12-31 | $134.03 | $29.18 | x |
| 2018-12-31 | $149.74 | $29.18 | x |
| 2019-12-31 | $149.58 | $29.18 | x |
| 2020-12-31 | $182.32 | $29.18 | x |
| 2021-12-31 | $206.02 | $29.18 | x |
| 2022-12-31 | $196.22 | $29.18 | x |
| 2023-12-31 | $24.20 | $29.18 | x |
| 2024-12-31 | $24.74 | $29.18 | x |
| 2025-12-31 | $26.78 | $29.18 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Heritage Financial Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.33%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.10%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 7.56x
- Recent ROE (7.33%) is above the historical average (5.89%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 3.83% | 21.43% | 0.04x | 4.43x | $-5.79 Million |
| 1998 | 4.58% | 13.31% | 0.08x | 4.43x | $-5.09 Million |
| 1999 | 5.67% | 13.30% | 0.08x | 5.36x | $-4.13 Million |
| 2000 | 7.20% | 12.33% | 0.08x | 6.91x | $-2.33 Million |
| 2001 | 8.87% | 13.62% | 0.08x | 7.76x | $-890.80K |
| 2002 | 13.02% | 20.22% | 0.08x | 8.21x | $2.18 Million |
| 2003 | 14.31% | 20.09% | 0.07x | 10.30x | $2.68 Million |
| 2004 | 15.73% | 21.09% | 0.07x | 11.44x | $3.49 Million |
| 2005 | 15.84% | 20.12% | 0.07x | 11.36x | $3.86 Million |
| 2006 | 13.41% | 16.69% | 0.07x | 10.85x | $2.68 Million |
| 2007 | 12.60% | 15.09% | 0.08x | 10.43x | $2.21 Million |
| 2008 | 5.61% | 9.66% | 0.07x | 8.36x | $-4.96 Million |
| 2009 | 0.37% | 0.94% | 0.06x | 6.40x | $-15.27 Million |
| 2010 | 6.60% | 19.34% | 0.05x | 6.76x | $-6.87 Million |
| 2011 | 3.22% | 8.17% | 0.06x | 6.76x | $-13.73 Million |
| 2012 | 6.67% | 17.38% | 0.06x | 6.76x | $-6.63 Million |
| 2013 | 4.44% | 11.87% | 0.05x | 7.69x | $-12.00 Million |
| 2014 | 0.61% | 15.28% | 0.04x | 1.01x | $-322.85 Million |
| 2015 | 1.03% | 22.31% | 0.05x | 1.01x | $-325.65 Million |
| 2016 | 1.03% | 22.88% | 0.04x | 1.03x | $-339.05 Million |
| 2017 | 1.04% | 22.80% | 0.04x | 1.03x | $-358.29 Million |
| 2018 | 1.00% | 22.97% | 0.04x | 1.00x | $-476.61 Million |
| 2019 | 1.22% | 26.99% | 0.05x | 1.00x | $-485.68 Million |
| 2020 | 0.71% | 18.51% | 0.04x | 1.00x | $-612.87 Million |
| 2021 | 1.32% | 39.62% | 0.03x | 1.00x | $-643.09 Million |
| 2022 | 1.18% | 31.85% | 0.04x | 1.00x | $-613.99 Million |
| 2023 | 7.24% | 20.37% | 0.04x | 8.41x | $-23.57 Million |
| 2024 | 5.01% | 13.64% | 0.04x | 8.23x | $-43.09 Million |
| 2025 | 7.33% | 20.10% | 0.05x | 7.56x | $-24.62 Million |
Industry Comparison
This section compares Heritage Financial Corporation's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $627,551,500
- Average return on equity (ROE) among peers: 7.01%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Heritage Financial Corporation (HFWA) | $1.11 Billion | 3.83% | 6.60x | $1.16 Billion |
| Ameris Bancorp (ABCB) | $239.36 Million | -1.64% | 9.06x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $68.20 Million | 10.85% | 9.15x | $5.65 Billion |
| ACNB Corporation (ACNB) | $110.02 Million | 9.35% | 8.91x | $645.30 Million |
| Affinity Bancshares Inc (AFBI) | $45.08 Million | 2.57% | 4.16x | $140.18 Million |
| Alerus Financial Corp (ALRS) | $359.40 Million | 14.66% | 8.44x | $829.34 Million |
| Amalgamated Bank (AMAL) | $344.07 Million | 1.78% | 10.75x | $1.27 Billion |
| Amerant Bancorp Inc. (AMTB) | $753.45 Million | 5.71% | 10.20x | $979.96 Million |
| Arrow Financial Corporation (AROW) | $166.38 Million | 13.18% | 10.80x | $724.09 Million |
| Associated Banc-Corp (ASB) | $4.09 Billion | 7.50% | 7.17x | $5.91 Billion |
| AmeriServ Financial Inc (ASRV) | $98.61 Million | 6.11% | 10.88x | $78.95 Million |
About Heritage Financial Corporation
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and its owners in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of d… Read more