Heartland Group - Public Comps and Valuation Multiples

Heartland Group Overview

About Heartland Group

Heartland Group Holdings Ltd is engaged in the operation of the reverse mortgage. Geographically it operates in both New Zealand and Australia. It offers business loans, rural loans, home loans, car loans , personal lending services and others. Further, it is also involved in saving and deposits activity and also provides internet banking services.

Founded

2018

HQ

Employees

535

Website

heartland.co.nz

Sectors

Lending Solutions

Financials

LTM Revenue $192M

LTM EBITDA $45.1M

EV

$1.1B

Valuation Multiples

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Heartland Group Financials

As of September 2025, Heartland Group reported last 12-month revenue of $192M and EBITDA of $45.1M.

In the same period, Heartland Group achieved $30.4M in LTM net income.

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Heartland Group P&L

In the most recent fiscal year, Heartland Group reported revenue of $186M.

Heartland Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$192M	XXX	$186M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	$45.1M	XXX	n/a	XXX	XXX	XXX
EBITDA Margin	23%	XXX	n/a	XXX	XXX	XXX
EBIT	$92.8M	XXX	n/a	XXX	XXX	XXX
EBIT Margin	48%	XXX	n/a	XXX	XXX	XXX
Net Profit	$30.4M	XXX	$22.6M	XXX	XXX	XXX
Net Margin	16%	XXX	12%	XXX	XXX	XXX
Net Debt	XXX	XXX	$121M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Heartland Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $192M. EBITDA for the last twelve months was $45.1M.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$192M	Analyst estimates available to subscribers	$186M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	NaN% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$45.1M	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	23.5% EBITDA margin	Analyst estimates available to subscribers	NaN% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$92.8M	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	48.3% EBIT margin	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$30.4M	Analyst estimates available to subscribers	$22.6M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	15.8% net profit margin	Analyst estimates available to subscribers	12.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$121M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Heartland Group

This financial data table provides comprehensive performance metrics for Heartland Group, a company based in New Zealand. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Heartland Group generated $192M in revenue over the last twelve months.
The company achieved $45.1M in EBITDA over the last twelve months.
Net income over the last twelve months reached $30.4M.

Fiscal Year Performance

In the most recent fiscal year, Heartland Group reported $186M in total revenue.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was NaN%.
Net profit margin reached 12.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Heartland Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Heartland Group Stock Performance

Heartland Group has current market cap of NZD 1.0B (or $591M), and EV of NZD 1.9B (or $1.1B).

Market Cap Evolution

Heartland Group Stock Data

As of October 7, 2025, Heartland Group's stock price is NZD 1 (or $1).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.1B	$591M	XXX	XXX	XXX	XXX	$0.03

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Heartland Group Valuation Multiples

Heartland Group's trades at 6.1x EV/Revenue multiple, and n/a EV/EBITDA.

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Heartland Group Financial Valuation Multiples

As of October 7, 2025, Heartland Group has market cap of $591M and EV of $1.1B.

Equity research analysts estimate Heartland Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Heartland Group has a P/E ratio of 19.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$591M	XXX	$591M	XXX	XXX	XXX
EV (current)	$1.1B	XXX	$1.1B	XXX	XXX	XXX
EV/Revenue	5.6x	XXX	6.1x	XXX	XXX	XXX
EV/EBITDA	24.0x	XXX	n/a	XXX	XXX	XXX
EV/EBIT	11.6x	XXX	n/a	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	19.4x	XXX	17.9x	XXX	XXX	XXX
EV/FCF	n/a	XXX	2.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Heartland Group Margins & Growth Rates

Heartland Group's last 12 month revenue growth is 9%

Heartland Group's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged n/a for the same period.

Heartland Group's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Heartland Group's rule of X is 46% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Heartland Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	9%	XXX	10%	XXX	XXX	XXX
EBITDA Margin	23%	XXX	n/a	XXX	XXX	XXX
EBITDA Growth	68%	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	n/a	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	46%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	n/a	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	n/a	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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