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Heritage Commerce Valuation Multiples
Discover revenue and EBITDA valuation multiples for Heritage Commerce and similar public comparables like First Community Bankshares, Farmers National Banc, Eagle Bancorp, Ecobank Transnational and more.
Heritage Commerce Overview
About Heritage Commerce
Heritage Commerce Corp operates as a bank holding company. The company, through its subsidiary, offers commercial banking services to small and medium-sized businesses and their owners, managers, and employees. It operates through two reportable segments, namely Banking and Factoring. A majority of its revenue is generated from the Banking segment, which provides various loan products, including commercial and industrial loans, commercial real estate loans, construction loans, etc. This segment also focuses on deposit generation on relationship accounts, encompassing non-interest bearing demand, interest bearing demand, money market accounts, certificates of deposit, and savings accounts.
Founded
1993
HQ
Employees
355
Website
Sectors
Financials (LTM)
EV
$869M
Heritage Commerce Financials
Heritage Commerce reported last 12-month revenue of $202M.
In the same LTM period, Heritage Commerce generated $52M in net income.
Revenue (LTM)
Heritage Commerce P&L
In the most recent fiscal year, Heritage Commerce reported revenue of $197M and net income of $48M.
Heritage Commerce expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $202M | XXX | $197M | XXX | XXX | XXX |
| EBIT Margin | 40% | XXX | 39% | XXX | XXX | XXX |
| Net Profit | $52M | XXX | $48M | XXX | XXX | XXX |
| Net Margin | 26% | XXX | 24% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Heritage Commerce Stock Performance
Heritage Commerce has current market cap of $830M, and enterprise value of $869M.
Market Cap Evolution
Heritage Commerce's stock price is $13.47.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $869M | $830M | 2.0% | XXX | XXX | XXX | $0.78 |
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Start Free TrialHeritage Commerce Valuation Multiples
Heritage Commerce trades at 4.3x EV/Revenue multiple.
EV / Revenue (LTM)
Heritage Commerce Financial Valuation Multiples
As of April 11, 2026, Heritage Commerce has market cap of $830M and EV of $869M.
Equity research analysts estimate Heritage Commerce's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Heritage Commerce has a P/E ratio of 16.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $830M | XXX | $830M | XXX | XXX | XXX |
| EV (current) | $869M | XXX | $869M | XXX | XXX | XXX |
| EV/Revenue | 4.3x | XXX | 4.4x | XXX | XXX | XXX |
| EV/EBIT | 10.9x | XXX | 11.2x | XXX | XXX | XXX |
| P/E | 16.1x | XXX | 17.3x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 14.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Heritage Commerce Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Heritage Commerce Margins & Growth Rates
Heritage Commerce's revenue in the last 12 month grew by 8%.
Heritage Commerce's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.3M for the same period.
Heritage Commerce Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 9% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 36% | XXX | XXX | XXX |
| Opex to Revenue | 60% | XXX | 62% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Heritage Commerce Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| First Community Bankshares | XXX | XXX | XXX | XXX | XXX | XXX |
| Farmers National Banc | XXX | XXX | XXX | XXX | XXX | XXX |
| Eagle Bancorp | XXX | XXX | XXX | XXX | XXX | XXX |
| Ecobank Transnational | XXX | XXX | XXX | XXX | XXX | XXX |
| Trustco Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Heritage Commerce M&A Activity
Heritage Commerce acquired XXX companies to date.
Last acquisition by Heritage Commerce was on XXXXXXXX, XXXXX. Heritage Commerce acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Heritage Commerce
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialHeritage Commerce Investment Activity
Heritage Commerce invested in XXX companies to date.
Heritage Commerce made its latest investment on XXXXXXXX, XXXXX. Heritage Commerce invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Heritage Commerce
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Heritage Commerce
| When was Heritage Commerce founded? | Heritage Commerce was founded in 1993. |
| Where is Heritage Commerce headquartered? | Heritage Commerce is headquartered in United States. |
| How many employees does Heritage Commerce have? | As of today, Heritage Commerce has over 355 employees. |
| Who is the CEO of Heritage Commerce? | Heritage Commerce's CEO is Robertson Clay Jones. |
| Is Heritage Commerce publicly listed? | Yes, Heritage Commerce is a public company listed on Nasdaq. |
| What is the stock symbol of Heritage Commerce? | Heritage Commerce trades under HTBK ticker. |
| When did Heritage Commerce go public? | Heritage Commerce went public in 1998. |
| Who are competitors of Heritage Commerce? | Heritage Commerce main competitors are First Community Bankshares, Farmers National Banc, Eagle Bancorp, Ecobank Transnational. |
| What is the current market cap of Heritage Commerce? | Heritage Commerce's current market cap is $830M. |
| What is the current revenue of Heritage Commerce? | Heritage Commerce's last 12 months revenue is $202M. |
| What is the current revenue growth of Heritage Commerce? | Heritage Commerce revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of Heritage Commerce? | Current revenue multiple of Heritage Commerce is 4.3x. |
| Is Heritage Commerce profitable? | Yes, Heritage Commerce is net-income-positive (as of the last 12 months). |
| What is the current net income of Heritage Commerce? | Heritage Commerce's last 12 months net income is $52M. |
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