Horizon Bancorp, Inc. — Earnings Quality Grade F
HBNC · Financial Services
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO -347 days, change -424 days YoY
AR outpaced revenue for 2 consecutive years
Revenue -116.7%, CFFO 1144.2%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -2.5% vs revenue -116.7%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = -0.53. Below 1.0
FCF $0.1B, FCF/NI = -0.49
Accruals ratio = -3.6%. Low accruals
Cash $0.1B covers only 44% of debt $0.3B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 24% of equity. Manageable
Insufficient data
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -2% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score — Not Applicable
Horizon Bancorp, Inc. is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25