Harborone Bancorp Inc Financials
This page shows Harborone Bancorp Inc (HONE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
HarborOne’s recent results are being driven less by operating costs and more by funding a larger balance sheet.
Between FY2022 and FY2024, revenue rose to$271.4M while operating cash flow shrank to$3.8M . With interest expense climbing sharply over the same span, reported earnings recovered faster than cash did, which suggests the balance sheet was producing income but not converting much of it into spendable cash.
The balance sheet expanded to
What stands out is not overhead inflation: SG&A stayed near
Financial Health Signals
Based on FY2024 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Harborone Bancorp Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Harborone Bancorp Inc's revenue grew 11.1% year-over-year to $271.4M, a solid pace of expansion. This earns a growth score of 76/100.
Harborone Bancorp Inc carries a low D/E ratio of 0.90, meaning only $0.90 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.
Harborone Bancorp Inc has a free cash flow margin of 1.0%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.
Harborone Bancorp Inc generates a 4.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 22/100. This is up from 2.8% the prior year.
Harborone Bancorp Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Harborone Bancorp Inc generates $0.14 in operating cash flow ($3.8M OCF vs $27.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Harborone Bancorp Inc generated $271.4M in revenue in fiscal year 2024. This represents an increase of 11.1% from the prior year.
Harborone Bancorp Inc reported $27.4M in net income in fiscal year 2024. This represents an increase of 70.5% from the prior year.
Harborone Bancorp Inc earned $0.66 per diluted share (EPS) in fiscal year 2024. This represents an increase of 78.4% from the prior year.
Cash & Balance Sheet
Harborone Bancorp Inc generated $2.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 94.7% from the prior year.
Harborone Bancorp Inc held $231.1M in cash against $516.6M in long-term debt as of fiscal year 2024.
Harborone Bancorp Inc paid $0.32 per share in dividends in fiscal year 2024. This represents an increase of 6.7% from the prior year.
Harborone Bancorp Inc had 44M shares outstanding in fiscal year 2024. This represents a decrease of 3.7% from the prior year.
Margins & Returns
Harborone Bancorp Inc's net profit margin was 10.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.5 percentage points from the prior year.
Harborone Bancorp Inc's ROE was 4.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Capital Allocation
Harborone Bancorp Inc spent $21.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 52.3% from the prior year.
Harborone Bancorp Inc invested $1.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 72.4% from the prior year.
HONE Income Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $65.6M+1.8% | $64.4M-4.6% | $67.5M-2.2% | $69.0M+1.6% | $68.0M+1.6% | $66.9M+3.9% | $64.4M+1.9% | $63.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $18.8M0.0% | $18.8M-0.4% | $18.9M+1.6% | $18.6M-2.2% | $19.0M+7.6% | $17.6M-8.1% | $19.2M+2.7% | $18.7M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $32.4M-1.8% | $33.0M-69.6% | $108.3M+191.7% | $37.1M+1.5% | $36.6M+200.8% | -$36.3M-204.7% | $34.7M+8.1% | $32.1M |
| Income Tax | $2.6M+58.1% | $1.6M-11.2% | $1.8M+399.7% | $366K-83.5% | $2.2M-9.3% | $2.4M+31.9% | $1.9M-26.2% | $2.5M |
| Net Income | $8.1M+46.5% | $5.5M-38.1% | $8.9M+126.5% | $3.9M-46.2% | $7.3M-0.1% | $7.3M+202.7% | -$7.1M-184.5% | $8.4M |
| EPS (Diluted) | $0.20+42.9% | $0.14 | N/A | $0.10-44.4% | $0.18+5.9% | $0.17 | N/A | $0.20 |
HONE Balance Sheet
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.6B-1.6% | $5.7B-0.9% | $5.8B-0.4% | $5.8B-0.2% | $5.8B-1.3% | $5.9B+3.4% | $5.7B+0.1% | $5.7B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $203.1M-11.9% | $230.5M-0.3% | $231.1M+3.0% | $224.3M-4.6% | $235.1M-40.3% | $393.4M+73.1% | $227.3M-7.9% | $246.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M-15.4% | $69.8M |
| Total Liabilities | $5.0B-1.9% | $5.1B-1.0% | $5.2B-0.3% | $5.2B-0.3% | $5.2B-1.4% | $5.3B+3.9% | $5.1B+0.1% | $5.1B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $439.7M+10.0% | $399.5M-22.7% | $516.6M-4.2% | $539.4M-12.9% | $619.4M-17.9% | $754.4M+32.7% | $568.5M+19.6% | $475.5M |
| Total Equity | $580.1M+0.7% | $576.0M+0.2% | $575.0M-1.6% | $584.2M+1.2% | $577.3M-0.1% | $577.7M-1.0% | $583.8M-0.1% | $584.6M |
| Retained Earnings | $380.1M+1.2% | $375.7M+0.5% | $373.9M+1.5% | $368.2M+0.2% | $367.6M+1.1% | $363.6M+1.1% | $359.7M-2.8% | $369.9M |
HONE Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.0M-121.3% | $23.4M+570.0% | $3.5M-86.0% | $24.9M+163.0% | -$39.5M-364.1% | $15.0M+193.1% | -$16.1M-157.4% | $28.0M |
| Capital Expenditures | $139K-33.2% | $208K-38.6% | $339K-40.4% | $569K+158.6% | $220K+100.0% | $110K-88.0% | $916K-3.2% | $946K |
| Free Cash Flow | -$5.1M-122.1% | $23.2M+635.5% | $3.1M-87.1% | $24.4M+161.2% | -$39.8M-367.5% | $14.9M+187.5% | -$17.0M-162.8% | $27.1M |
| Investing Cash Flow | $70.5M+112.3% | $33.2M+69.2% | $19.6M+177.0% | -$25.5M+32.5% | -$37.7M-13.7% | -$33.1M-10.7% | -$29.9M-80.8% | -$16.6M |
| Financing Cash Flow | -$92.9M-62.7% | -$57.1M-250.1% | -$16.3M-59.4% | -$10.2M+87.4% | -$81.1M-144.0% | $184.3M+593.0% | $26.6M+251.8% | -$17.5M |
| Dividends Paid | $3.6M+2.3% | $3.5M+41.5% | $2.5M-23.6% | $3.3M-0.5% | $3.3M-5.5% | $3.5M+44.1% | $2.4M-24.0% | $3.2M |
| Share Buybacks | $3.1M-51.6% | $6.4M+29.1% | $4.9M+16.2% | $4.3M-30.2% | $6.1M-2.7% | $6.3M+8.2% | $5.8M-10.7% | $6.5M |
HONE Financial Ratios
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 12.3%+3.7pp | 8.5%-4.6pp | 13.2%+7.5pp | 5.7%-5.1pp | 10.7%-0.2pp | 10.9%+21.9pp | -11.0%-24.4pp | 13.3% |
| Return on Equity | 1.4%+0.4pp | 0.9%-0.6pp | 1.6%+0.9pp | 0.7%-0.6pp | 1.3%0.0pp | 1.3%+2.5pp | -1.2%-2.7pp | 1.4% |
| Return on Assets | 0.1%+0.0pp | 0.1%-0.1pp | 0.1%+0.1pp | 0.1%-0.1pp | 0.1%+0.0pp | 0.1%+0.2pp | -0.1%-0.3pp | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.76+0.1 | 0.69-0.2 | 0.90-0.0 | 0.92-0.1 | 1.07-0.2 | 1.31+0.3 | 0.97+0.2 | 0.81 |
| FCF Margin | -7.8%-43.7pp | 35.9%+31.3pp | 4.7%-30.6pp | 35.3%+93.8pp | -58.5%-80.7pp | 22.2%+48.6pp | -26.4%-69.3pp | 42.9% |
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Frequently Asked Questions
What is Harborone Bancorp Inc's annual revenue?
Harborone Bancorp Inc (HONE) reported $271.4M in total revenue for fiscal year 2024. This represents a 11.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Harborone Bancorp Inc's revenue growing?
Harborone Bancorp Inc (HONE) revenue grew by 11.1% year-over-year, from $244.3M to $271.4M in fiscal year 2024.
Is Harborone Bancorp Inc profitable?
Yes, Harborone Bancorp Inc (HONE) reported a net income of $27.4M in fiscal year 2024, with a net profit margin of 10.1%.
How much debt does Harborone Bancorp Inc have?
As of fiscal year 2024, Harborone Bancorp Inc (HONE) had $231.1M in cash and equivalents against $516.6M in long-term debt.
What is Harborone Bancorp Inc's net profit margin?
Harborone Bancorp Inc (HONE) had a net profit margin of 10.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Harborone Bancorp Inc pay dividends?
Yes, Harborone Bancorp Inc (HONE) paid $0.32 per share in dividends during fiscal year 2024.
What is Harborone Bancorp Inc's return on equity (ROE)?
Harborone Bancorp Inc (HONE) has a return on equity of 4.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Harborone Bancorp Inc's free cash flow?
Harborone Bancorp Inc (HONE) generated $2.6M in free cash flow during fiscal year 2024. This represents a -94.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Harborone Bancorp Inc's operating cash flow?
Harborone Bancorp Inc (HONE) generated $3.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Harborone Bancorp Inc's total assets?
Harborone Bancorp Inc (HONE) had $5.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Harborone Bancorp Inc's capital expenditures?
Harborone Bancorp Inc (HONE) invested $1.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Harborone Bancorp Inc's debt-to-equity ratio?
Harborone Bancorp Inc (HONE) had a debt-to-equity ratio of 0.90 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Harborone Bancorp Inc's return on assets (ROA)?
Harborone Bancorp Inc (HONE) had a return on assets of 0.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Harborone Bancorp Inc's Piotroski F-Score?
Harborone Bancorp Inc (HONE) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Harborone Bancorp Inc's earnings high quality?
Harborone Bancorp Inc (HONE) has an earnings quality ratio of 0.14x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Harborone Bancorp Inc?
Harborone Bancorp Inc (HONE) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.