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Heritage FinancialHFWA +0.40%63 Cyclically Adjusted PS Ratio is 3.86 as of Jul. 14, 2026, which is 1% above its 10-year median of 3.83. GuruFocus rates HFWA with a GF Score™ of 63/100 and a GF Value™ of $27.46 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,306 Banks companies, Heritage Financial ranks worse than 59.57% on this metric.
The historical rank and industry rank for Heritage Financial's Cyclically Adjusted PS Ratio or its related term are showing as below:
HFWA'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.14 Med: 3.83 Max: 6.15
Current: 3.85
During the past years, Heritage Financial's highest Cyclically Adjusted PS Ratio was 6.15. The lowest was 2.14. And the median was 3.83.
HFWA's Cyclically Adjusted PS Ratio is ranked worse than 59.57% of 1306
companies
in the Banks industry
Industry Median: 3.345
vs HFWA: 3.85
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Heritage Financial's adjusted revenue per share data for the three months ended in Mar. 2026 was $1.993. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $7.75 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Heritage Financial (NAS:HFWA) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Heritage Financial Cyclically Adjusted PS Ratio Related Terms
Heritage Financial Cyclically Adjusted PS Ratio Historical Data
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The historical data trend for Heritage Financial's Cyclically Adjusted PS Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Heritage Financial Cyclically Adjusted PS Ratio Chart
HFWA vs OSBC, UVSP, MCB: Cyclically Adjusted PS Ratio Comparison
For the Banks - Regional subindustry, Heritage Financial's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Heritage Financial Cyclically Adjusted PS Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Heritage Financial's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Heritage Financial's Cyclically Adjusted PS Ratio falls into.
Heritage Financial Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Heritage Financial's Cyclically Adjusted PS Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 3.86 mean?
Heritage Financial (HFWA) has a Cyclically Adjusted PS Ratio of 3.86 as of Jul. 14, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Heritage Financial and its competitors. This is near median its historical median of 3.83. Over the past decade, Heritage Financial's Cyclically Adjusted PS Ratio has ranged from 2.14 to 6.15. According to the industry distribution chart, Heritage Financial ranks #778 out of 1306 companies in the Banks industry, placing it in the top 59.6%.
Is Heritage Financial's Cyclically Adjusted PS Ratio too high?
Heritage Financial's current Cyclically Adjusted PS Ratio of 3.86 is near median its 10-year median of 3.83. Over the past 10 years, this metric has ranged from a low of 2.14 to a high of 6.15. The Banks industry median Cyclically Adjusted PS Ratio is 3.35. Heritage Financial's value of 3.86 is 15.4% above this industry median. Based on the distribution chart, Heritage Financial ranks #778 out of 1306 companies in the Banks industry, which is below the industry midpoint. Overall, Heritage Financial has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heritage Financial's Cyclically Adjusted PS Ratio compare to OSBC and UVSP?
According to the Banks industry distribution chart, Heritage Financial ranks #778 out of 1306 companies for Cyclically Adjusted PS Ratio. This places Heritage Financial in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.35. Heritage Financial's value of 3.86 is 15.4% above this benchmark. Historically, Heritage Financial's own Cyclically Adjusted PS Ratio has ranged from 2.14 to 6.15 over the past decade. While the company's 10-year median is 3.83 vs. the industry median of 3.35, Heritage Financial has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Banks company?
The median Cyclically Adjusted PS Ratio among Banks companies is 3.35, based on 1,306 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heritage Financial's current Cyclically Adjusted PS Ratio of 3.86 is 15.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Heritage Financial and its competitors. For the Banks industry, the median Cyclically Adjusted PS Ratio is 3.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heritage Financial's current Cyclically Adjusted PS Ratio is 3.86, which is near median its own 10-year median of 3.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heritage Financial stock overvalued right now?
Based on GuruFocus' analysis, Heritage Financial (HFWA) is currently considered Fairly Valued. The stock's GF Value™ is $27.46, compared to a current price of $29.93 — trading 9% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.86, which is near median its 10-year median of 3.83 and 15.4% above the Banks industry median of 3.35. Heritage Financial's overall GF Score™ is 63/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Heritage Financial (HFWA), the current Cyclically Adjusted PS Ratio is 3.86 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Heritage Financial (HFWA) Overvalued in 2026?
Based on GuruFocus' analysis, Heritage Financial stock appears to be overvalued.
The current stock price of $29.93 is trading 9% above its estimated GF Value™ of $27.46.
GuruFocus considers Heritage Financial to be Fairly Valued.
Key valuation signals for HFWA:
Cyclically Adjusted PS Ratio: 3.86 (near median its 10-year median of 3.83)
GF Value™: $27.46 vs. price of $29.93 (9% above fair value)
Industry Position: 15.4% above the Banks median (#778 of 1306)
No single metric tells the full story. See the HFWA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heritage Financial Corp is a bank holding company. The company, through its subsidiary, provides commercial lending and deposit relationships with small businesses and their owners in its market areas and attracts deposits from the general public. It accepts various deposit products, such as non-interest demand accounts, money market accounts, savings accounts, and certificates of deposit. Besides, the Bank also makes real estate construction loans, land development loans, and consumer loans, and originates first mortgage loans on residential properties mainly located in its market area. Geographically, all the business activity functions through the region of the United States.
63GF Score
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Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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