$18.34

-0.08 (-0.43%)

After Hours: $17.30 (-1.04, -5.67%)

Weekly Expected Move ±3.1%

$16 $17 $18 $18 $19

NASDAQ · Financial Services · Banks - Regional · Alpha Radar Buy · Power 61 · $941.4M mcap · 50M float · 0.688% daily turnover · Short 67% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

34.2 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: -15.1% · 5Y Avg: 0.7%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. HBNC has No discernible competitive edge (34.2/100). The business operates without significant structural advantages. The primary source of advantage is Intangible Assets. Negative ROIC of -15.1% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$21

Low

$21

Avg Target

$21

High

Based on 1 analyst since Apr 22, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 6Hold: 3Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$20.50

Analysts2

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-04-27	Piper Sandler	Nathan Race	$18	$21	+3	+17.8%	$17.83
2026-03-27	Stephens	Brandon Rud	$22	$20	-2	+23.4%	$16.21
2025-09-02	Stephens	—	Initiated	$22	—	+31.4%	$16.74
2024-07-29	Piper Sandler	Nathan Rave	$13	$18	+5	+10.6%	$16.27
2024-04-29	Piper Sandler	Nathan Rave	Initiated	$13	—	+11.6%	$11.65
2022-04-29	Raymond James	—	Initiated	$23	—	+28.4%	$17.91

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C-

May 22, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. HBNC receives an overall rating of C-. Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5), P/B (2/5).

Rating Change History

Date	From	To
2026-04-27	C	C-
2026-04-24	C-	C
2026-02-04	C	C-
2026-02-04	C-	C
2026-01-30	C	C-
2026-01-26	C+	C
2026-01-03	C	C+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 31 Grade C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. HBNC scores highest in Cash Flow (74/100) and lowest in Growth (12/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman-B Score

0.96

Distress Zone

Piotroski F-Score

4/9

✗ ✓ ✗ ✓ ✗ ✓ ✗ ✓ ✗

Beneish M-Score

-3.06

Unlikely Manipulator

Ohlson O-Score

-4.51

Bankruptcy prob: 1.1%

Low Risk

Credit Rating

Score: 27.9/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -0.57x

Accruals: -3.3%

The Altman-B Score replaces the traditional Z-Score for banks and financial institutions. It weights equity-to-assets, return on assets, retained earnings, market value coverage, and cash reserves — metrics that better capture bank solvency than manufacturing-oriented ratios. HBNC scores 0.96, placing it in the Distress Zone (safe > 3.0, distress < 1.5). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HBNC scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. HBNC's score of -3.06 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. HBNC's implied 1.1% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HBNC receives an estimated rating of B (score: 27.9/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-6.33x

PEG

0.01x

P/S

9.84x

P/B

1.34x

P/FCF

10.39x

P/OCF

9.92x

EV/EBITDA

-6.30x

EV/Revenue

12.23x

EV/EBIT

-6.02x

EV/FCF

14.52x

Earnings Yield

-17.63%

FCF Yield

9.62%

Shareholder Yield

3.64%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. HBNC currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.753

NI / EBT

Interest Burden

1.008

EBT / EBIT

EBIT Margin

-2.032

EBIT / Rev

Asset Turnover

0.013

Rev / Assets

Equity Multiplier

9.807

Assets / Equity

ROE

-20.4%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HBNC's ROE of -20.4% is driven by financial leverage (equity multiplier: 9.81x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Assessment

Overvalued

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$18.34

Median 1Y

$17.86

5th Pctile

$9.16

95th Pctile

$34.81

Ann. Volatility

41.0%

Analyst Target

$20.50

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Thomas M. Prame President/CEO	$685,000	$569,973	$1,965,115
John R. Stewart Chief Financial Officer	$453,200	$249,238	$1,117,208
Lynn M. Kerber EVP, Chief Commercial Banking Officer	$373,070	$149,197	$791,352
Kathie A. DeRuiter EVP, Senior Operations Officer	$345,911	$138,348	$715,475
Mark E. Secor EVP, Chief Administration Officer	$309,000	$123,590	$644,251

CEO Pay Ratio

Insufficient data for pay ratio.

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

—

-100.0% YoY

Revenue / Employee

—

Rev: $103,167,000

Profit / Employee

—

NI: $-150,483,000

SGA / Employee

—

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
ROE	12.6%	13.0%	12.3%	12.7%	13.1%	13.2%	13.3%	12.6%	11.7%	10.6%	4.0%	3.4%	2.7%	3.0%	4.8%	6.1%	7.0%	-25.4%	-20.7%	-20.4%	-20.42%
ROA	1.5%	1.6%	1.3%	1.4%	1.4%	1.4%	1.2%	1.2%	1.1%	1.0%	0.4%	0.3%	0.2%	0.3%	0.5%	0.6%	0.7%	-2.4%	-2.1%	-2.1%	-2.08%
ROIC	-76.9%	-79.4%	-41.9%	-43.5%	-44.8%	-45.1%	16.4%	15.5%	14.4%	13.1%	4.1%	3.5%	2.8%	3.1%	2.2%	2.9%	3.3%	-12.8%	-15.4%	-15.1%	-15.09%
ROCE	7.9%	8.1%	6.9%	7.2%	7.4%	7.3%	6.1%	5.7%	5.2%	4.7%	1.8%	1.6%	1.4%	1.4%	1.3%	1.9%	2.3%	-12.2%	-3.1%	-3.1%	-3.08%
Gross Margin	94.5%	91.5%	96.8%	96.0%	92.9%	87.1%	76.0%	66.6%	63.7%	57.8%	31.1%	54.7%	54.3%	55.6%	34.4%	63.5%	61.9%	1.2%	74.4%	74.7%	74.66%
Operating Margin	43.6%	42.2%	39.8%	42.6%	42.7%	36.8%	31.1%	25.0%	23.4%	19.3%	-30.5%	16.2%	16.5%	17.9%	-34.8%	26.8%	24.1%	1.4%	34.1%	33.0%	33.04%
Net Margin	37.3%	35.9%	33.4%	37.0%	36.8%	33.9%	27.6%	22.7%	21.7%	17.8%	-40.9%	14.8%	14.7%	17.9%	-17.2%	22.8%	20.4%	1.1%	26.7%	26.7%	26.73%
EBITDA Margin	50.8%	47.2%	44.6%	46.9%	48.4%	41.1%	35.1%	28.6%	26.8%	22.5%	-25.2%	19.5%	19.6%	20.8%	-29.7%	29.6%	27.0%	1.4%	34.8%	33.0%	33.04%
FCF Margin	38.0%	40.7%	42.1%	39.3%	36.7%	35.3%	33.5%	30.8%	25.5%	24.7%	25.4%	18.5%	18.3%	18.4%	0.4%	2.7%	3.5%	-13.0%	72.0%	84.2%	84.23%
OCF Margin	39.2%	41.5%	42.7%	39.8%	38.5%	37.5%	35.8%	32.8%	28.2%	27.1%	27.9%	21.0%	19.6%	19.7%	1.8%	4.1%	5.0%	-4.1%	76.8%	88.2%	88.21%
ROE 3Y Avg	snapshot only																				-4.10%
ROE 5Y Avg	snapshot only																				2.64%
ROA 3Y Avg	snapshot only																				-0.47%
ROIC 3Y Avg	snapshot only																				-3.94%
ROIC Economic	snapshot only																				-14.14%
Cash ROA	snapshot only																				1.32%
Cash ROIC	snapshot only																				8.29%
CROIC	snapshot only																				7.92%
NOPAT Margin	snapshot only																				-1.61%
Pretax Margin	snapshot only																				-2.05%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				1.17%
SBC / Revenue	snapshot only																				1.79%

Valuation

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
P/E Ratio	7.46	7.56	8.75	7.62	6.95	7.18	6.09	4.79	4.92	5.65	20.39	21.90	26.64	30.84	19.07	14.15	12.80	-3.98	-5.72	-5.67	-6.333
P/S Ratio	2.51	2.62	3.09	2.73	2.49	2.53	2.04	1.43	1.29	1.26	1.79	1.56	1.48	1.84	1.90	1.76	1.79	11.44	8.35	8.75	9.838
P/B Ratio	0.91	0.96	1.05	0.95	0.89	0.93	0.84	0.62	0.60	0.62	0.79	0.72	0.71	0.91	0.88	0.84	0.87	0.98	1.25	1.22	1.343
P/FCF	6.61	6.45	7.34	6.96	6.77	7.17	6.10	4.65	5.05	5.10	7.03	8.42	8.11	9.99	526.08	64.01	50.81	-87.95	11.60	10.39	10.391
P/OCF	6.41	6.32	7.24	6.86	6.46	6.76	5.70	4.36	4.57	4.64	6.41	7.41	7.57	9.33	106.08	42.62	35.61	—	10.87	9.92	9.922
EV/EBITDA	-1.54	-1.24	-1.46	-2.04	-2.35	-2.16	3.88	2.81	2.89	3.33	10.41	10.33	11.14	14.26	37.66	27.92	24.39	-6.49	-6.37	-6.30	-6.304
EV/Revenue	-0.67	-0.56	-0.68	-0.97	-1.10	-0.97	1.65	1.06	0.94	0.93	1.66	1.44	1.37	1.73	4.20	3.99	4.00	23.92	11.59	12.23	12.227
EV/EBIT	-1.73	-1.39	-1.65	-2.30	-2.63	-2.41	4.35	3.18	3.27	3.82	13.61	14.03	15.72	20.03	54.59	36.38	30.46	-6.13	-5.99	-6.02	-6.016
EV/FCF	-1.78	-1.37	-1.62	-2.46	-2.99	-2.76	4.93	3.45	3.69	3.77	6.54	7.77	7.48	9.38	1162.86	145.50	113.37	-183.85	16.09	14.52	14.516
Earnings Yield	13.4%	13.2%	11.4%	13.1%	14.4%	13.9%	16.4%	20.9%	20.3%	17.7%	4.9%	4.6%	3.8%	3.2%	5.2%	7.1%	7.8%	-25.1%	-17.5%	-17.6%	-17.63%
FCF Yield	15.1%	15.5%	13.6%	14.4%	14.8%	14.0%	16.4%	21.5%	19.8%	19.6%	14.2%	11.9%	12.3%	10.0%	0.2%	1.6%	2.0%	-1.1%	8.6%	9.6%	9.62%
PEG Ratio	snapshot only																				0.012
Price/Tangible Book	snapshot only																				1.599
EV/OCF	snapshot only																				13.861
Shareholder Yield	snapshot only																				3.64%

Leverage & Solvency

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Current Ratio	0.30	0.30	0.30	0.30	0.30	0.30	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.10	0.10	0.10	0.10	1.14	1.14	1.135
Quick Ratio	0.30	0.30	0.30	0.30	0.30	0.30	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.10	0.10	0.10	0.10	1.14	1.14	1.135
Debt/Equity	0.85	0.85	1.15	1.15	1.15	1.15	1.50	1.50	1.50	1.50	1.44	1.44	1.44	1.44	1.76	1.76	1.76	1.76	0.59	0.59	0.588
Net Debt/Equity	-1.16	-1.16	-1.29	-1.29	-1.29	-1.29	-0.16	-0.16	-0.16	-0.16	-0.06	-0.06	-0.06	-0.06	1.07	1.07	1.07	1.07	0.48	0.48	0.485
Debt/Assets	0.10	0.10	0.11	0.11	0.11	0.11	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.17	0.17	0.17	0.17	0.06	0.06	0.063
Debt/EBITDA	5.34	5.19	7.18	6.96	6.82	6.90	8.58	9.11	9.96	10.86	20.32	22.30	24.58	24.19	33.93	25.73	22.14	-5.57	-2.16	-2.17	-2.171
Net Debt/EBITDA	-7.26	-7.06	-8.07	-7.82	-7.66	-7.76	-0.92	-0.98	-1.07	-1.17	-0.78	-0.86	-0.95	-0.93	20.62	15.64	13.46	-3.39	-1.78	-1.79	-1.791
Interest Coverage	3.75	4.24	5.60	6.16	6.41	4.82	2.89	1.67	1.05	0.72	0.29	0.23	0.18	0.18	0.16	0.25	0.31	-1.73	-1.50	-1.62	-1.616
Equity Multiplier	8.50	8.50	10.25	10.25	10.25	10.25	11.62	11.62	11.62	11.62	11.05	11.05	11.05	11.05	10.22	10.22	10.22	10.22	9.35	9.35	9.352
Cash Ratio	snapshot only																				0.799
Debt Service Coverage	snapshot only																				-1.543
Cash to Debt	snapshot only																				0.175
FCF to Debt	snapshot only																				0.200
Defensive Interval	snapshot only																				214.0 days

Efficiency & Turnover

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Asset Turnover	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.01	0.01	0.01	0.013
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	12.54	12.55	10.37	10.59	10.92	11.18	9.05	9.59	10.21	10.88	8.63	9.01	9.28	9.57	9.06	9.33	9.45	1.67	2.97	2.77	2.766
Payables Turnover	10.45	9.28	6.56	5.39	6.00	7.45	9.13	15.51	22.49	30.18	10.06	11.22	12.14	12.62	10.38	10.11	9.78	8.93	23.98	21.56	21.563
DSO	29	29	35	34	33	33	40	38	36	34	42	40	39	38	40	39	39	219	123	132	132.0 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	35	39	56	68	61	49	40	24	16	12	36	33	30	29	35	36	37	41	15	17	16.9 days
Cash Conversion Cycle	-6	-10	-20	-33	-27	-16	0	15	20	21	6	8	9	9	5	3	1	178	108	115	115.1 days
Fixed Asset Turnover	snapshot only																				1.035
Cash Velocity	snapshot only																				1.359
Capital Intensity	snapshot only																				66.995

Growth (YoY)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue	1.5%	2.1%	-3.1%	0.1%	3.0%	5.2%	12.8%	17.1%	20.8%	25.8%	14.8%	13.2%	9.5%	5.9%	11.3%	9.7%	7.9%	-81.5%	-71.0%	-73.7%	-73.74%
Net Income	29.7%	34.4%	27.1%	16.8%	9.6%	7.0%	7.3%	-2.4%	-11.8%	-20.6%	-70.0%	-73.0%	-76.7%	-71.6%	26.6%	91.1%	1.7%	-9.9%	-5.2%	-4.3%	-4.27%
EPS	28.8%	34.2%	27.6%	17.7%	10.6%	7.6%	7.4%	-2.4%	-11.9%	-20.8%	-70.0%	-73.1%	-76.8%	-71.8%	26.4%	90.8%	1.7%	-9.3%	-4.6%	-3.8%	-3.80%
FCF	27.9%	52.0%	42.5%	25.0%	-0.4%	-8.6%	-10.3%	-8.0%	-16.3%	-12.1%	-13.0%	-32.0%	-21.4%	-21.1%	-98.4%	-83.8%	-79.2%	-1.1%	56.8%	7.1%	7.07%
EBITDA	27.0%	30.4%	29.7%	19.8%	9.8%	5.6%	2.6%	-6.4%	-16.1%	-22.2%	-56.9%	-58.3%	-58.6%	-54.2%	-22.2%	12.5%	44.2%	-6.6%	-5.7%	-4.6%	-4.56%
Op. Income	27.9%	31.0%	30.7%	18.7%	10.4%	6.4%	3.1%	-6.7%	-17.1%	-23.9%	-63.1%	-65.3%	-66.8%	-62.6%	-29.9%	17.3%	62.9%	-9.4%	-8.3%	-5.9%	-5.87%
OCF Growth	snapshot only																				4.62%
Asset Growth	snapshot only																				-17.49%
Equity Growth	snapshot only																				-9.87%
Debt Growth	snapshot only																				-69.94%
Shares Change	snapshot only																				16.58%
Dividend Growth	snapshot only																				7.88%

Growth (CAGR)

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue 3Y	12.3%	10.2%	8.3%	8.0%	6.6%	4.9%	4.6%	5.3%	8.1%	10.6%	7.9%	9.9%	10.9%	11.9%	13.0%	13.3%	12.6%	-37.3%	-28.1%	-31.2%	-31.17%
Revenue 5Y	15.4%	14.3%	12.5%	12.0%	11.9%	12.1%	12.2%	11.9%	12.0%	12.1%	10.5%	10.8%	9.9%	9.0%	7.9%	7.7%	8.3%	-23.3%	-16.5%	-17.5%	-17.50%
EPS 3Y	20.1%	17.1%	13.0%	16.2%	21.4%	16.5%	13.2%	10.2%	7.9%	4.6%	-25.7%	-32.4%	-39.1%	-37.8%	-25.9%	-20.6%	-17.9%	—	—	—	—
EPS 5Y	19.0%	21.4%	22.7%	20.9%	19.3%	18.6%	19.6%	15.5%	11.1%	6.5%	-14.2%	-16.3%	-18.2%	-18.8%	-11.3%	-7.3%	-4.6%	—	—	—	—
Net Income 3Y	25.7%	22.5%	17.9%	20.8%	20.1%	15.3%	12.0%	9.3%	7.8%	4.5%	-25.8%	-32.5%	-39.1%	-37.8%	-25.9%	-20.5%	-17.7%	—	—	—	—
Net Income 5Y	30.8%	29.0%	29.5%	27.5%	25.8%	24.7%	23.0%	18.5%	13.9%	9.3%	-12.0%	-14.2%	-18.6%	-19.2%	-11.8%	-7.6%	-4.5%	—	—	—	—
EBITDA 3Y	20.8%	18.7%	17.9%	20.7%	19.0%	13.6%	9.7%	7.0%	5.4%	2.3%	-16.9%	-22.4%	-27.5%	-27.8%	-29.9%	-24.0%	-20.6%	—	—	—	—
EBITDA 5Y	25.8%	24.0%	24.9%	23.1%	21.5%	20.3%	17.0%	13.8%	10.2%	6.6%	-6.2%	-7.2%	-10.2%	-12.2%	-15.0%	-10.5%	-6.9%	—	—	—	—
Gross Profit 3Y	13.3%	12.6%	13.0%	14.1%	13.0%	10.6%	8.0%	6.5%	6.3%	4.4%	-3.3%	-5.3%	-7.5%	-7.3%	-7.5%	-6.1%	-5.4%	—	—	—	—
Gross Profit 5Y	15.8%	15.0%	15.0%	14.5%	14.1%	14.0%	12.0%	10.0%	8.4%	6.8%	2.5%	2.1%	0.7%	-0.3%	-1.2%	0.2%	1.8%	—	—	—	—
Op. Income 3Y	20.4%	18.0%	17.2%	20.0%	19.2%	13.7%	9.8%	7.1%	5.4%	2.0%	-20.8%	-27.3%	-32.8%	-32.9%	-35.6%	-27.6%	-23.5%	—	—	—	—
Op. Income 5Y	26.5%	24.4%	25.6%	23.6%	21.9%	20.8%	17.1%	13.6%	9.8%	5.9%	-9.3%	-11.0%	-14.2%	-16.0%	-19.3%	-12.9%	-8.7%	—	—	—	—
FCF 3Y	13.9%	12.0%	14.6%	-13.3%	-15.5%	-17.7%	-18.1%	2.5%	2.2%	6.9%	3.6%	-7.9%	-13.1%	-14.1%	-76.9%	-53.3%	-48.4%	—	-7.3%	-3.8%	-3.79%
FCF 5Y	27.3%	36.0%	33.9%	24.5%	20.1%	13.8%	15.0%	9.7%	4.3%	2.4%	3.3%	-16.4%	-16.9%	-17.3%	-62.4%	-34.7%	-29.5%	—	0.4%	0.5%	0.48%
OCF 3Y	13.1%	11.1%	13.3%	-13.4%	-14.7%	-16.7%	-17.0%	2.1%	3.0%	7.7%	4.1%	-5.8%	-12.0%	-12.7%	-60.8%	-46.8%	-42.9%	—	-7.4%	-4.3%	-4.33%
OCF 5Y	25.8%	33.5%	32.8%	23.3%	20.1%	14.1%	15.2%	10.0%	5.3%	3.5%	4.2%	-14.5%	-16.0%	-16.6%	-48.4%	-30.2%	-25.4%	—	0.1%	0.2%	0.19%
Assets 3Y	14.1%	14.1%	20.4%	20.4%	20.4%	20.4%	14.5%	14.5%	14.5%	14.5%	10.5%	10.5%	10.5%	10.5%	1.7%	1.7%	1.7%	1.7%	-6.5%	-6.5%	-6.49%
Assets 5Y	17.3%	17.3%	18.7%	18.7%	18.7%	18.7%	14.7%	14.7%	14.7%	14.7%	13.3%	13.3%	13.3%	13.3%	8.3%	8.3%	8.3%	8.3%	1.8%	1.8%	1.80%
Equity 3Y	14.8%	14.8%	13.7%	13.7%	13.7%	13.7%	1.1%	1.1%	1.1%	1.1%	1.3%	1.3%	1.3%	1.3%	1.8%	1.8%	1.8%	1.8%	0.5%	0.5%	0.53%
Book Value 3Y	9.8%	9.7%	9.0%	9.4%	14.9%	14.9%	2.2%	1.8%	1.1%	1.2%	1.5%	1.4%	1.4%	1.1%	1.8%	1.7%	1.6%	-0.8%	-4.7%	-4.6%	-4.63%
Dividend 3Y	-3.3%	-1.3%	1.0%	1.7%	7.9%	6.4%	5.0%	4.1%	1.7%	1.3%	0.8%	0.3%	0.1%	-0.1%	0.0%	-0.1%	-0.2%	-2.6%	-3.9%	-2.7%	-2.71%

Growth Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Revenue Stability	0.97	0.95	0.88	0.86	0.90	0.88	0.84	0.85	0.91	0.89	0.92	0.94	0.93	0.87	0.85	0.85	0.91	0.09	0.09	0.08	0.075
Earnings Stability	0.98	0.97	0.97	1.00	0.99	0.97	0.96	0.94	0.83	0.62	0.00	0.02	0.05	0.12	0.30	0.31	0.29	0.54	0.60	0.61	0.609
Margin Stability	0.94	0.94	0.93	0.92	0.92	0.92	0.93	0.92	0.89	0.87	0.82	0.81	0.78	0.77	0.74	0.75	0.75	0.00	0.05	0.11	0.110
Rev. Growth Consistency	1.00	1.00	0.00	0.50	1.00	1.00	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	1	1	1
Earnings Persistence	0.88	0.86	0.89	0.93	0.96	0.97	0.97	0.99	0.95	0.92	0.50	0.50	0.50	0.50	0.89	0.50	0.50	0.20	0.20	0.20	0.200
Earnings Smoothness	0.74	0.71	0.76	0.85	0.91	0.93	0.93	0.98	0.87	0.77	0.00	0.00	0.00	0.00	0.77	0.37	0.08	—	—	—	—
ROE Trend	0.02	0.01	0.02	0.02	0.02	0.02	0.03	0.01	-0.00	-0.02	-0.09	-0.09	-0.10	-0.09	-0.04	-0.02	-0.01	-0.32	-0.26	-0.26	-0.262
Gross Margin Trend	0.10	0.11	0.14	0.14	0.12	0.09	0.02	-0.09	-0.18	-0.26	-0.34	-0.34	-0.32	-0.29	-0.21	-0.13	-0.06	-1.86	-0.83	-0.79	-0.787
FCF Margin Trend	-0.14	-0.10	-0.07	0.07	0.03	0.01	-0.02	-0.05	-0.12	-0.13	-0.12	-0.17	-0.13	-0.12	-0.29	-0.22	-0.18	-0.35	0.59	0.74	0.736
Sustainable Growth Rate	9.3%	9.5%	8.8%	9.1%	9.3%	9.4%	9.4%	8.5%	7.7%	6.6%	-0.0%	-0.7%	-1.3%	-1.0%	1.0%	2.3%	3.2%	—	—	—	—
Internal Growth Rate	1.1%	1.2%	0.9%	1.0%	1.0%	1.0%	0.9%	0.8%	0.7%	0.6%	—	—	—	—	0.1%	0.2%	0.3%	—	—	—	—

Cash Flow Quality

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
OCF/Net Income	1.16	1.20	1.21	1.11	1.08	1.06	1.07	1.10	1.08	1.22	3.18	2.96	3.52	3.30	0.18	0.33	0.36	0.01	-0.53	-0.57	-0.572
FCF/OCF	0.97	0.98	0.99	0.99	0.95	0.94	0.94	0.94	0.90	0.91	0.91	0.88	0.93	0.93	0.20	0.67	0.70	3.14	0.94	0.95	0.955
FCF/Net Income	snapshot only																				-0.546
CapEx/Revenue	1.2%	0.8%	0.6%	0.6%	1.8%	2.1%	2.3%	2.0%	2.7%	2.4%	2.4%	2.5%	1.3%	1.3%	1.4%	1.4%	1.5%	8.9%	4.8%	4.0%	4.04%
CapEx/Depreciation	snapshot only																				0.435
Accruals Ratio	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.01	-0.01	-0.01	-0.01	0.00	0.00	0.00	-0.02	-0.03	-0.03	-0.033
Sloan Accruals	snapshot only																				0.722
Cash Flow Adequacy	snapshot only																				2.458

Dividends & Buybacks

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Dividend Yield	3.5%	3.5%	3.2%	3.7%	4.2%	4.1%	4.9%	6.7%	7.0%	6.7%	5.0%	5.5%	5.6%	4.4%	4.2%	4.4%	4.3%	3.8%	3.4%	3.6%	3.48%
Dividend/Share	$0.50	$0.53	$0.57	$0.59	$0.62	$0.63	$0.64	$0.65	$0.65	$0.65	$0.65	$0.65	$0.64	$0.64	$0.65	$0.65	$0.64	$0.60	$0.58	$0.60	$0.64
Payout Ratio	26.1%	26.8%	28.4%	28.4%	29.0%	29.2%	29.7%	32.0%	34.5%	38.1%	1.0%	1.2%	1.5%	1.3%	80.0%	62.5%	54.7%	—	—	—	—
FCF Payout Ratio	23.1%	22.8%	23.8%	25.9%	28.2%	29.1%	29.8%	31.1%	35.4%	34.3%	34.9%	45.9%	45.1%	43.5%	22.1%	2.8%	2.2%	—	39.7%	37.8%	37.81%
Total Payout Ratio	26.8%	36.1%	37.5%	36.4%	36.8%	29.5%	29.7%	32.0%	34.5%	38.1%	1.0%	1.2%	1.5%	1.3%	80.0%	62.5%	54.7%	—	—	—	—
Div. Increase Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	1	0	0	0	0
Chowder Number	0.07	0.14	0.20	0.22	0.26	0.21	0.17	0.17	0.12	0.10	0.07	0.06	0.06	0.04	0.04	0.04	0.04	0.04	0.08	0.12	0.115
Buyback Yield	0.1%	1.2%	1.0%	1.0%	1.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	-0.0%	1.2%	1.0%	1.0%	1.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	-0.6%	-0.6%	-0.6%	-0.5%	-0.0%	-0.05%
Total Shareholder Return	3.5%	4.8%	4.3%	4.8%	5.3%	4.1%	4.9%	6.7%	7.0%	6.7%	5.0%	5.5%	5.6%	4.3%	4.2%	3.8%	3.7%	3.2%	2.9%	3.6%	3.59%

DuPont Factors

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Tax Burden (NI/EBT)	0.86	0.87	0.85	0.85	0.86	0.87	0.88	0.89	0.91	0.91	0.72	0.69	0.64	0.69	1.30	1.13	1.07	0.74	0.75	0.75	0.753
Interest Burden (EBT/EBIT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.01	1.01	1.008
EBIT Margin	0.39	0.40	0.42	0.42	0.42	0.40	0.38	0.33	0.29	0.24	0.12	0.10	0.09	0.09	0.08	0.11	0.13	-3.90	-1.93	-2.03	-2.032
Asset Turnover	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.01	0.01	0.01	0.013
Equity Multiplier	8.26	8.26	9.40	9.40	9.40	9.40	10.91	10.91	10.91	10.91	11.33	11.33	11.33	11.33	10.62	10.62	10.62	10.62	9.81	9.81	9.807

Per Share

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
EPS (Diluted TTM)	$1.92	$1.99	$1.99	$2.06	$2.13	$2.14	$2.14	$2.01	$1.87	$1.70	$0.64	$0.54	$0.43	$0.48	$0.81	$1.03	$1.18	$-3.98	$-2.93	$-2.89	$-2.89
Book Value/Share	$15.69	$15.75	$16.54	$16.54	$16.56	$16.55	$15.51	$15.48	$15.49	$15.47	$16.47	$16.38	$16.34	$16.30	$17.46	$17.37	$17.34	$16.14	$13.42	$13.43	$13.71
Tangible Book/Share	$11.74	$11.78	$12.52	$12.52	$12.54	$12.53	$11.56	$11.54	$11.54	$11.53	$12.60	$12.54	$12.50	$12.47	$13.68	$13.61	$13.58	$12.64	$10.26	$10.26	$10.26
Revenue/Share	$5.72	$5.74	$5.64	$5.75	$5.94	$6.08	$6.37	$6.74	$7.17	$7.63	$7.32	$7.60	$7.81	$8.02	$8.13	$8.32	$8.42	$1.39	$2.01	$1.87	$1.88
FCF/Share	$2.17	$2.34	$2.38	$2.26	$2.18	$2.15	$2.14	$2.08	$1.83	$1.88	$1.86	$1.41	$1.43	$1.48	$0.03	$0.23	$0.30	$-0.18	$1.45	$1.58	$1.59
OCF/Share	$2.24	$2.38	$2.41	$2.29	$2.29	$2.28	$2.28	$2.21	$2.02	$2.07	$2.04	$1.60	$1.53	$1.58	$0.15	$0.34	$0.42	$-0.06	$1.55	$1.65	$1.66
Cash/Share	$31.57	$31.68	$40.22	$40.22	$40.27	$40.25	$25.74	$25.69	$25.69	$25.66	$24.65	$24.52	$24.46	$24.39	$12.07	$12.01	$11.99	$11.16	$1.38	$1.38	$1.34
EBITDA/Share	$2.51	$2.59	$2.64	$2.72	$2.78	$2.75	$2.71	$2.55	$2.33	$2.13	$1.17	$1.06	$0.96	$0.97	$0.91	$1.19	$1.38	$-5.10	$-3.66	$-3.64	$-3.64
Debt/Share	$13.38	$13.43	$18.94	$18.94	$18.96	$18.95	$23.24	$23.20	$23.20	$23.17	$23.73	$23.61	$23.55	$23.48	$30.77	$30.61	$30.55	$28.44	$7.89	$7.89	$7.89
Net Debt/Share	$-18.19	$-18.26	$-21.28	$-21.28	$-21.31	$-21.30	$-2.50	$-2.49	$-2.49	$-2.49	$-0.91	$-0.91	$-0.91	$-0.90	$18.70	$18.60	$18.57	$17.28	$6.51	$6.51	$6.51

Academic Models

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Altman-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.963
Altman Z-Prime	snapshot only																				0.091
Piotroski F-Score	7	7	7	7	5	5	7	5	5	5	7	6	6	6	5	5	5	1	4	4	4
Beneish M-Score	-2.49	-2.39	-2.29	-2.27	-2.22	-2.20	-1.94	-1.84	-1.84	-1.81	-1.66	-2.28	-2.31	-2.39	-2.49	-2.48	-2.48	—	-2.91	-3.06	-3.057
Ohlson O-Score	snapshot only																				-4.514
ROIC (Greenblatt)	snapshot only																				-1.86%
Net-Net WC	snapshot only																				$-110.22
EVA	snapshot only																				$-256462960.00

Credit

Metric	Q2'21	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Current
Credit Rating	snapshot only																				B
Credit Score	66.43	65.64	61.44	61.73	61.66	61.54	50.58	49.56	48.12	46.49	36.93	37.36	33.12	35.64	34.94	39.25	39.07	15.08	27.30	27.88	27.884
Credit Grade	snapshot only																				15
Credit Trend	snapshot only																				-11.370
Implied Spread (bps)	snapshot only																				750.000
Industry Credit Rank	snapshot only																				4
Sector Credit Rank	snapshot only																				14

HBNC NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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