NASDAQ · Financial Statements

Horizon Bancorp, Inc. (HBNC) Financial Statements

$20.37 NASDAQ: HBNC Market Cap $1.05B

Horizon Bancorp, Inc. most recently reported annual revenue of $103.0M, a net loss of $150.0M. Revenue declined at an average annual rate of 16.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Horizon Bancorp, Inc.: Revenue fell from $136.0M in 2016 to $103.0M in 2025, a change of -24.3% over 9 years; net profit was positive in 9 of 10 reported years; operating margin moved from 24.0% to -193.4%, a shift of -217.4 percentage points; the most recent year shows a net loss of $150.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$136.0M$157.0M$194.0M$243.0M$254.0M$247.0M$278.0M$319.0M$355.0M$103.0M
Operating Expenses$104.0M$109.0M$131.0M$163.0M$176.0M$144.0M$172.0M$280.0M$328.0M$303.0M
Operating Profit$33.0M$48.0M$64.0M$80.0M$78.0M$102.0M$106.0M$39.0M$27.0M$-200.0M
Operating Margin24.0%30.6%32.7%32.9%30.8%41.5%38.0%12.2%7.7%-193.4%
Other Income$0$0$0$0$0$0$0$0$0$-2.0M
Interest$21.0M$16.0M$32.0M$48.0M$34.0M$18.0M$37.0M$137.0M$168.0M$133.0M
Depreciation$5.0M$6.0M$7.0M$10.0M$12.0M$14.0M$13.0M$12.0M$12.0M$12.0M
Profit Before Tax$33.0M$48.0M$64.0M$80.0M$78.0M$102.0M$106.0M$39.0M$27.0M$-201.0M
Tax$26.9M$30.9M$16.4M$16.7M$12.6M$15.0M$11.5M$28.3M$-29.5M$25.2M
Net Profit$24.0M$33.0M$53.0M$67.0M$68.0M$87.0M$93.0M$28.0M$35.0M$-150.0M
EPS$0.79$0.95$1.38$1.53$1.55$1.98$2.14$0.64$0.80$-3.15
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$91.0M$62.0M$94.0M$96.0M$101.0M$63.0M$105.0M$101.0M$-204.0M$101.0M$98.0M$101.0M
Operating Expenses$73.0M$81.0M$79.0M$81.0M$83.0M$85.0M$77.0M$77.0M$83.0M$66.0M$66.0M$70.0M
Operating Profit$17.0M$-19.0M$15.0M$16.0M$18.0M$-22.0M$28.0M$24.0M$-286.0M$34.0M$32.0M$31.0M
Operating Margin19.3%-30.4%16.2%16.5%17.9%-34.8%26.8%24.1%140.5%34.1%33.0%30.6%
Interest$38.0M$41.0M$42.0M$42.0M$44.0M$40.0M$37.0M$36.0M$34.0M$26.0M$24.0M$25.0M
Profit Before Tax$17.0M$-19.0M$15.0M$16.0M$18.0M$-22.0M$28.0M$24.0M$-286.0M$33.0M$32.0M$31.0M
Tax$7.3M$-34.1M$8.6M$10.9M$-410,000$50.4M$14.8M$15.4M$22.5M$17.7M$19.1M$19.0M
Net Profit$16.0M$-25.0M$14.0M$14.0M$18.0M$-11.0M$24.0M$21.0M$-222.0M$27.0M$26.0M$25.0M
EPS$0.37$-0.58$0.32$0.32$0.41$-0.25$0.54$0.47$-4.69$0.53$0.51$0.49

Over the 10 years reported for Horizon Bancorp, Inc., borrowings increased from $324.0M in 2016 to $404.0M in 2025, cash stood at $67.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 1.14 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$3.1B$4.0B$4.2B$5.2B$5.9B$7.4B$7.9B$7.9B$7.8B$6.4B
Current Assets$523.0M$599.0M$689.0M$967.0M$1.4B$1.8B$1.2B$1.1B$568.0M$100.0M
Cash$71.0M$76.0M$74.0M$107.0M$259.0M$598.0M$126.0M$527.0M$294.0M$67.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$13.0M$13.0M$14.0M$19.0M$21.0M$26.0M$35.0M$39.0M$40.0M$30.0M
Fixed Assets$66.0M$76.0M$74.0M$92.0M$92.0M$93.0M$93.0M$95.0M$94.0M$93.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$2.8B$3.5B$3.8B$4.7B$5.1B$6.3B$7.1B$6.9B$7.0B$5.8B
Other Assets$77.0M$120.0M$120.0M$151.0M$151.0M$155.0M$155.0M$155.0M$155.0M$155.0M
Total Liabilities$2.8B$3.5B$3.8B$4.6B$5.2B$6.7B$7.2B$7.2B$7.0B$5.7B
Current Liabilities$2.6B$3.1B$3.3B$4.1B$4.6B$5.9B$6.1B$5.8B$5.7B$88.0M
Borrowings$324.0M$602.0M$588.0M$606.0M$590.0M$828.0M$1.0B$1.0B$1.3B$404.0M
Other Liabilities$2.5B$2.9B$3.2B$4.0B$4.6B$5.9B$6.2B$6.2B$5.7B$5.3B
Equity$0$0$0$0$0$0$0$0$0$0
Reserves$341.0M$457.0M$492.0M$656.0M$692.0M$723.0M$677.0M$719.0M$764.0M$688.0M

For Horizon Bancorp, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $74.0M; free cash flow was positive in 10 of 10 years; financing activities used $327.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$26.0M$49.0M$72.0M$174.0M$79.0M$106.0M$94.0M$89.0M$6.0M$79.0M
Investing Cash Flow$221.0M$-282.0M$-307.0M$-99.0M$-484.0M$-346.0M$-1.0B$322.0M$-58.0M$975.0M
Financing Cash Flow$47.0M$-13.0M$258.0M$50.0M$600.0M$439.0M$60.0M$-196.0M$-106.0M$-327.0M
Net Cash Flow$18.0M$7.0M$-1.0M$40.0M$151.0M$344.0M$-470.0M$403.0M$-233.0M$-154.0M
Free Cash Flow$24.0M$46.0M$69.0M$170.0M$73.0M$105.0M$88.0M$81.0M$1.0M$74.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.01
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y30.61%
Return 3Y94.11%
Return 5Y44.19%

Horizon Bancorp, Inc. (HBNC) financials — frequently asked questions

What is Horizon Bancorp, Inc.'s annual revenue?

Horizon Bancorp, Inc. (HBNC) reported annual revenue of $103.0M in its most recent fiscal year.

What is Horizon Bancorp, Inc.'s net profit?

Horizon Bancorp, Inc. (HBNC) reported a net loss of $150.0M in its most recent fiscal year.

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