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Heritage Financial (NAS:HFWA) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Heritage Financial Forward PE Ratio Related Terms
Heritage Financial Forward PE Ratio Historical Data
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The historical data trend for Heritage Financial's Forward PE 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 Forward PE Ratio Chart
Heritage Financial Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
15.20
19.31
19.08
14.16
16.21
16.95
14.56
12.03
12.00
12.69
11.07
Heritage Financial Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
15.20
12.59
13.62
13.55
19.31
18.42
20.08
18.48
19.08
16.29
19.84
16.23
14.16
14.45
14.51
12.58
16.21
13.74
29.94
14.68
16.95
18.25
12.52
15.24
14.56
15.50
13.53
11.76
12.03
8.56
8.17
8.16
12.00
10.95
10.86
11.55
12.69
11.96
12.13
10.75
11.07
11.38
HFWA vs OSBC, UVSP, MCB: Forward PE Ratio Comparison
For the Banks - Regional subindustry, Heritage Financial's Forward PE Ratio, along with its competitors' market caps and Forward PE 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 Forward PE Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Heritage Financial's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Heritage Financial's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Heritage Financial (HFWA) has a Forward PE Ratio of 14.33 as of Jul. 17, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Heritage Financial and its competitors. According to the industry distribution chart, Heritage Financial ranks #677 out of 819 companies in the Banks industry, placing it in the top 82.7%.
Is Heritage Financial's Forward PE Ratio too high?
Heritage Financial's current Forward PE Ratio is 14.33. The Banks industry median Forward PE Ratio is 11.32. Heritage Financial's value of 14.33 is 26.6% above this industry median. Based on the distribution chart, Heritage Financial ranks #677 out of 819 companies in the Banks industry, which is in the bottom quartile relative to peers. 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 Forward PE Ratio compare to OSBC and UVSP?
According to the Banks industry distribution chart, Heritage Financial ranks #677 out of 819 companies for Forward PE Ratio. This places Heritage Financial in the lower half of its industry. The industry median Forward PE Ratio is 11.32. Heritage Financial's value of 14.33 is 26.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Banks company?
The median Forward PE Ratio among Banks companies is 11.32, based on 819 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heritage Financial's current Forward PE Ratio of 14.33 is 26.6% 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Heritage Financial and its competitors. For the Banks industry, the median Forward PE Ratio is 11.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heritage Financial's current Forward PE Ratio is 14.33. 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 $27.77, compared to a current price of $30.52 — trading 9.9% above its estimated fair value. The current Forward PE Ratio is 14.33 and 26.6% above the Banks industry median of 11.32. 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 Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Heritage Financial (HFWA), the current Forward PE Ratio is 14.33 as of Jul. 17, 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 $30.52 is trading 9.9% above its estimated GF Value™ of $27.77.
GuruFocus considers Heritage Financial to be Fairly Valued.
Key valuation signals for HFWA:
Forward PE Ratio: 14.33
GF Value™: $27.77 vs. price of $30.52 (9.9% above fair value)
Industry Position: 26.6% above the Banks median (#677 of 819)
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
Get the complete analysis for HFWA
Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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