Start with its own history
At 10.26×, HBNC is 32.4% below its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NASDAQ · HBNCBanks - RegionalUpdated Nov 5, 2026
Horizon Bancorp, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
10.26×
32.4% belowthe 9-observation annual average
Share price21.44
÷Earnings per share2.09
Price and EPS in quote currency. Calculation details
Investors are paying 10.26 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 15.18×
3-year average21.12×2 positive annual observations
5-year average14.94×4 positive annual observations
10-year average15.18×9 positive annual observations
Peer median · TTM13.33×6 peers with positive P/E
Historical P/E ratios
Annual period-end data · 24 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | N/M | N/M |
| Dec 31, 2024 | 19.89× | -11.0% |
| Dec 31, 2023 | 22.36× | +217.3% |
| Dec 31, 2022 | 7.05× | -32.7% |
| Dec 31, 2021 | 10.48× | +3.1% |
| Dec 31, 2020 | 10.17× | -18.1% |
| Dec 31, 2019 | 12.42× | +9.4% |
| Dec 31, 2018 | 11.35× | -41.2% |
View all 24 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 19.30× | -18.3% |
| Dec 31, 2016 | 23.63× | +63.5% |
| Dec 31, 2015 | 14.45× | +9.5% |
| Dec 31, 2014 | 13.20× | +17.3% |
| Dec 31, 2013 | 11.26× | +36.7% |
| Dec 31, 2012 | 8.24× | +10.8% |
| Dec 31, 2011 | 7.43× | -22.1% |
| Dec 31, 2010 | 9.55× | +40.2% |
| Dec 31, 2009 | 6.81× | +51.6% |
| Dec 31, 2008 | 4.49× | -55.7% |
| Dec 31, 2007 | 10.14× | -12.1% |
| Dec 31, 2006 | 11.53× | +2.4% |
| Dec 31, 2005 | 11.26× | -2.6% |
| Dec 31, 2004 | 11.57× | -8.6% |
| Dec 31, 2003 | 12.65× | -13.0% |
| Dec 31, 2002 | 14.54× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How HBNC compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 HBNC This stockHorizon Bancorp, Inc. | 10.26× |
 LARKLandmark Bancorp, Inc. | 9.53× |
 WTBAWest Bancorporation, Inc. | 12.97× |
 EBMTEagle Bancorp Montana, Inc. | 10.88× |
 LKFNLakeland Financial Corporation | 13.98× |
 NSTSNSTS Bancorp, Inc. | N/M |
 CMTVCommunity Bancorp | 13.69× |
 PBHCPathfinder Bancorp, Inc. | N/M |
 FNWDFinward Bancorp | 24.95× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does HBNC’s P/E tell you?
Compare like with like
The median of the 6 positive peer ratios above is 13.33×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take HBNC into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("HBNC", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 21.44 ÷ EPS 2.09 = 10.26×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
HBNC P/E ratio: common questions
The essentials behind the numbers.
Horizon Bancorp, Inc.'s current P/E is 10.26× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.