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Heritage Global Inc.(HGBL)Earnings, Financials & Key Ratios
HGBL•NASDAQ•Banking & Credit
$1.34
$47M mkt cap·13.4× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryCapital MarketsSub-IndustryAlternative Asset Managers and Specialty Finance
AboutHeritage Global, Inc., together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company provides market making, acquisitions, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets. Heritage Global Inc. acts as an adviser, as well as a principal, acquiring, or brokering manufacturing facilities; surplus industrial machinery and equipment; industrial inventories; accounts receivable portfolios; intellectual property; and business enterprises. The company was formerly known as Counsel RB Capital Inc. and changed its name to Heritage Global, Inc. in August 2013. Heritage Global, Inc. was incorporated in 1983 and is headquartered in San Diego, California.Show more
- Net Interest Income$134K+244.1%
- Total Revenue$51M+12.4%
- Net Income$4M-30.8%
- Return on Equity5.43%-33.9%
- Net Interest Margin0.15%+232.5%
- Efficiency Ratio73.44%+547.3%
- ROA4.23%-32.9%
- Equity / Assets75.74%-5.5%
- Book Value per Share1.89+7.7%
- Tangible BV/Share1.59+8.7%
- Debt/Equity0.09+105.3%
HGBL Key Insights
Heritage Global Inc. (HGBL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Well capitalized: 75.7% equity/assets
- ✓Share count reduced 4.6% through buybacks
- ✓Diversified revenue: 100.0% from non-interest income
- ✓Trading at only 0.7x book value
✗Weaknesses
- ✗Profits declining 18.0% over 5 years
- ✗Weak NIM of 0.2%
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
HGBL Price & Volume
Heritage Global Inc. (HGBL) stock price & volume — 10-year historical chart
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HGBL Growth Metrics
Heritage Global Inc. (HGBL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years11.33%
5 Years14.25%
3 Years2.81%
TTM-
Profit CAGR
10 Years-
5 Years-17.97%
3 Years-38.6%
TTM-30.78%
EPS CAGR
10 Years-
5 Years-19.73%
3 Years-38.02%
TTM-28.13%
Return on Capital
10 Years19.62%
5 Years15.95%
3 Years15.11%
Last Year8%
HGBL Peer Comparison
Heritage Global Inc. (HGBL) competitors in Alternative Asset Managers and Specialty Finance — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CPSS | 225.42M | 10.18 | 12.89 | 11.79% | 6.49% | 10.78 | ||
 RILY | 314.6M | 8.95 | 1.18 | -11.45% | ||||
 ASST | 27.14M | 16.28 | -1.67 | 476.17% | -74.57% | -110.03% | 0.02 | |
 COHU | 2.33B | 49.62 | -31.21 | 12.74% | -11.54% | -6.84% | 0.46 | |
 GBX | 1.56B | 50.36 | 7.93 | -8.66% | 6.04% | 10.67% | 1.06 | |
 KFRC | 768.57M | 42.05 | 21.45 | -5.43% | 2.6% | 27.22% | 0.56 | |
 LQDT | 1.4B | 37.22 | 42.78 | 31.2% | 6.26% | 13.83% | 0.07 | |
 HY | 651.85M | 36.89 | -10.88 | -12.51% | -2.71% | -19.4% | 0.78 |
Compare HGBL vs Peers
Heritage Global Inc. (HGBL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HGBL Income Statement
Heritage Global Inc. (HGBL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | -95K | -214K | -64K | -45K | -22K | -113K | -324K | -93K | 134K |
| NII Growth % | -50.79% | -125.26% | 70.09% | 29.69% | 51.11% | -413.64% | -186.73% | 71.3% | 244.09% |
| Net Interest Margin % | -0.71% | -1.04% | -0.29% | -0.1% | -0.04% | -0.17% | -0.39% | -0.11% | 0.15% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 95K | 214K | 64K | 45K | 22K | 113K | 324K | 93K | 134K |
| Loan Loss Provision | 8.88M | 8.76M | 16.63M | 15.8M | 14.76M | 36.41M | 38.83M | 31.06M | 7.82M |
| Non-Interest Income | 20.13M | 23.66M | 26.17M | 26.18M | 25.79M | 46.91M | 60.55M | 45.36M | 50.98M |
| Non-Interest Income % | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| Total Revenue | 20.13M▲ 0% | 23.66M▲ 17.6% | 26.17M▲ 10.6% | 26.18M▲ 0.1% | 25.79M▼ 1.5% | 46.91M▲ 81.9% | 60.55M▲ 29.1% | 45.36M▼ 25.1% | 50.98M▲ 12.4% |
| Revenue Growth % | -15.54% | 17.56% | 10.58% | 0.06% | -1.49% | 81.89% | 29.06% | -25.08% | 12.38% |
| Non-Interest Expense | 10.79M | 10.61M | 6.43M | 4.28M | 8M | -728K | 7.08M | 5.15M | 37.44M |
| Efficiency Ratio | 53.63% | 44.83% | 24.57% | 16.33% | 31% | -1.55% | 11.69% | 11.34% | 73.44% |
| Operating Income | 364K▲ 0% | 4.08M▲ 1020.3% | 3.05M▼ 25.2% | 6.06M▲ 98.7% | 3.01M▼ 50.3% | 11.12M▲ 268.9% | 14.32M▲ 28.8% | 9.07M▼ 36.7% | 5.59M▼ 38.4% |
| Operating Margin % | 1.81% | 17.23% | 11.66% | 23.14% | 11.69% | 23.7% | 23.65% | 19.99% | 10.96% |
| Operating Income Growth % | 91.58% | 1020.33% | -25.21% | 98.66% | -50.26% | 268.94% | 28.77% | -36.69% | -38.36% |
| Pretax Income | -669K▲ 0% | 4.02M▲ 701.0% | 2.99M▼ 25.7% | 6.01M▲ 101.4% | 2.99M▼ 50.2% | 11.01M▲ 267.9% | 13.99M▲ 27.1% | 8.97M▼ 35.9% | 5.84M▼ 34.9% |
| Pretax Margin % | -3.32% | 16.99% | 11.41% | 22.97% | 11.6% | 23.46% | 23.12% | 19.78% | 11.47% |
| Income Tax | -420K | 270K | -913K | -3.64M | -61K | -4.49M | 1.52M | 3.79M | 2.26M |
| Effective Tax Rate % | 62.78% | 6.71% | -30.58% | -60.59% | -2.04% | -40.76% | 10.86% | 42.25% | 38.63% |
| Net Income | -249K▲ 0% | 3.75M▲ 1606.4% | 3.9M▲ 3.9% | 9.66M▲ 147.7% | 3.05M▼ 68.4% | 15.49M▲ 407.5% | 12.47M▼ 19.5% | 5.18M▼ 58.5% | 3.59M▼ 30.8% |
| Net Margin % | -1.24% | 15.85% | 14.9% | 36.89% | 11.84% | 33.02% | 20.6% | 11.42% | 7.04% |
| Net Income Growth % | -1878.57% | 1606.43% | 3.95% | 147.7% | -68.39% | 407.47% | -19.48% | -58.46% | -30.78% |
| Net Income (Continuing) | -249K | 3.75M | 3.9M | 9.66M | 3.05M | 15.49M | 12.47M | 5.18M | 3.59M |
| EPS (Diluted) | -0.01▲ 0% | 0.13▲ 1400.0% | 0.13▲ 0.0% | 0.30▲ 130.8% | 0.08▼ 72.4% | 0.42▲ 407.9% | 0.33▼ 21.4% | 0.14▼ 57.6% | 0.10▼ 28.6% |
| EPS Growth % | - | 1400% | 0% | 130.77% | -72.43% | 407.86% | -21.43% | -57.58% | -28.57% |
| EPS (Basic) | -0.01 | 0.13 | 0.14 | 0.32 | 0.09 | 0.43 | 0.34 | 0.14 | 0.10 |
| Diluted Shares Outstanding | 28.47M | 28.89M | 29.27M | 32.71M | 36.9M | 37.1M | 37.59M | 37.13M | 35.43M |
HGBL Balance Sheet
Heritage Global Inc. (HGBL) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 2.11M | 4.27M | 2.73M | 23.39M | 13.62M | 12.67M | 12.28M | 21.75M | 20.52M |
| Cash & Due from Banks | 2.11M | 4.27M | 2.73M | 23.39M | 13.62M | 12.67M | 12.28M | 21.75M | 20.52M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 14K | 2.77M | 2.52M | 2.4M | 4.68M | 13.97M | 21.36M | 20.89M | 21.06M |
| Investments Growth % | - | 19664.29% | -9.07% | -4.53% | 94.96% | 198.38% | 52.87% | -2.2% | 0.8% |
| Long-Term Investments | 14K | 2.77M | 2.52M | 2.4M | 4.68M | 13.97M | 21.36M | 20.89M | 21.06M |
| Accounts Receivables | 384K | 400K | 1.86M | 1.5M | 2.73M | 988K | 1.21M | 1.56M | 6.38M |
| Goodwill & Intangibles | 10.04M | 9.79M | 8.98M | 8.71M | 12.01M | 11.59M | 11.2M | 10.81M | 10.55M |
| Goodwill | 6.16M | 6.16M | 5.58M | 5.58M | 7.45M | 7.45M | 7.45M | 7.45M | 7.45M |
| Intangible Assets | 3.88M | 3.63M | 3.39M | 3.12M | 4.57M | 4.14M | 3.75M | 3.36M | 3.1M |
| PP&E (Net) | 145K | 175K | 1.7M | 1.09M | 4.17M | 4.35M | 4.24M | 3.85M | 12.4M |
| Other Assets | 250K | 224K | 1.58M | 998K | 1.83M | 4.31M | 10.96M | 6.62M | 6.43M |
| Total Current Assets | 3.02M | 7.68M | 6.77M | 26.95M | 23.28M | 23.89M | 26.29M | 33.13M | 33.59M |
| Total Non-Current Assets | 10.43M | 12.95M | 15.15M | 17.6M | 27.18M | 43.67M | 56.88M | 48.18M | 54.84M |
| Total Assets | 13.45M▲ 0% | 20.63M▲ 53.4% | 21.92M▲ 6.2% | 44.55M▲ 103.3% | 50.46M▲ 13.3% | 67.56M▲ 33.9% | 83.17M▲ 23.1% | 81.31M▼ 2.2% | 88.44M▲ 8.8% |
| Asset Growth % | -11.19% | 53.39% | 6.23% | 103.29% | 13.26% | 33.88% | 23.1% | -2.24% | 8.77% |
| Return on Assets (ROA) | -1.74% | 22.01% | 18.33% | 29.06% | 6.43% | 26.25% | 16.55% | 6.3% | 4.23% |
| Accounts Payable | 2.48M | 3.11M | 0 | 0 | 6.45M | 3.19M | 4.97M | 7.42M | 341K |
| Total Debt | 1.52M | 1.62M | 1.99M | 1M | 6.58M | 7.15M | 9.88M | 2.71M | 5.72M |
| Net Debt | -585K | -2.65M | -736K | -22.38M | -7.04M | -5.52M | -2.4M | -19.04M | -14.8M |
| Long-Term Debt | 786K | 438K | 35K | 0 | 1.35M | 871K | 5.5M | 0 | 4.1M |
| Short-Term Debt | 738K | 1.18M | 438K | 0 | 2.48M | 3.41M | 1.73M | 395K | 829K |
| Other Liabilities | 0 | 1.84M | -35K | 0 | 0 | 0 | 0 | 0 | 1.03M |
| Total Current Liabilities | 8.66M | 10.17M | 9.13M | 13.99M | 14.22M | 16.23M | 14.73M | 14.6M | 15.54M |
| Total Non-Current Liabilities | 1.3M | 2.86M | 942K | 623K | 3.6M | 3.04M | 7.35M | 1.51M | 5.92M |
| Total Liabilities | 9.96M | 13.03M | 10.07M | 14.61M | 17.82M | 19.26M | 22.09M | 16.11M | 21.46M |
| Total Equity | 3.49M▲ 0% | 7.6M▲ 117.9% | 11.85M▲ 55.9% | 29.94M▲ 152.7% | 32.64M▲ 9.0% | 48.3M▲ 48.0% | 61.08M▲ 26.5% | 65.2M▲ 6.7% | 66.98M▲ 2.7% |
| Equity Growth % | -0.17% | 117.89% | 55.88% | 152.75% | 9% | 47.98% | 26.46% | 6.75% | 2.73% |
| Equity / Assets (Capital Ratio) | 25.93% | 36.84% | 54.05% | 67.2% | 64.68% | 71.49% | 73.44% | 80.19% | 75.74% |
| Return on Equity (ROE) | -7.13% | 67.66% | 40.1% | 46.22% | 9.76% | 38.28% | 22.81% | 8.21% | 5.43% |
| Book Value per Share | 0.12 | 0.26 | 0.40 | 0.92 | 0.88 | 1.30 | 1.63 | 1.76 | 1.89 |
| Tangible BV per Share | -0.23 | -0.08 | 0.10 | 0.65 | 0.56 | 0.99 | 1.33 | 1.46 | 1.59 |
| Common Stock | 285K | 293K | 293K | 353K | 366K | 369K | 372K | 374K | 376K |
| Additional Paid-in Capital | 284.4M | 284.75M | 285.1M | 293.4M | 293.03M | 293.59M | 294.52M | 295.66M | 296.48M |
| Retained Earnings | -281.12M | -277.37M | -273.47M | -263.82M | -260.76M | -245.27M | -233.03M | -227.84M | -224.26M |
| Accumulated OCI | -75K | -77K | -77K | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | -395K | -794K | -2.99M | -5.62M |
| Preferred Stock | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K | 6K |
HGBL Cash Flow Statement
Heritage Global Inc. (HGBL) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.18M | 7.47M | 794K | 9.15M | -2.63M | 6.48M | 13.02M | 7.75M | 6.14M |
| Operating CF Growth % | -69.8% | 531.98% | -89.37% | 1052.14% | -128.76% | 346.41% | 100.85% | -40.52% | -20.76% |
| Net Income | -249K | 3.75M | 3.9M | 9.66M | 3.05M | 15.49M | 12.47M | 5.18M | 3.59M |
| Depreciation & Amortization | 313K | 319K | 305K | 362K | 460K | 536K | 514K | 1.25M | 682K |
| Deferred Taxes | 0 | 0 | -800K | -4.03M | -86K | -4.96M | 418K | 3.11M | 1.61M |
| Other Non-Cash Items | 2.11M | -157K | -262K | -3.23M | 752K | -6.15M | -160K | -3.04M | 329K |
| Working Capital Changes | -1.24M | 3.27M | -2.63M | 6.03M | -7.22M | 1.03M | -1M | 0 | -967K |
| Cash from Investing | -44K | -2.85M | -1.16M | 4.51M | -10.2M | -7.52M | -15.87M | 10.87M | -9.39M |
| Purchase of Investments | 0 | -2.75M | -604K | -1.43M | -2.6M | -14.61M | 0 | 0 | 0 |
| Sale/Maturity of Investments | 0 | 0 | 2.23M | 5.34M | 2.6M | 5.31M | 0 | 0 | 0 |
| Net Investment Activity | 0 | -2.75M | 1.62M | 3.91M | 0 | -9.3M | 0 | 0 | 0 |
| Acquisitions | 0 | -2.75M | -604K | -1.43M | -6.92M | -9.3M | -7.57M | 2.96M | 0 |
| Other Investing | 0 | 2.75M | -2.06M | 2.03M | -1.85M | 11.3M | -8.04M | 8.05M | -921K |
| Cash from Financing | -1.56M | -2.46M | -1.18M | 7M | 3.06M | 78K | 2.46M | -9.15M | 2.03M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -395K | -400K | -2.2M | -2.63M |
| Stock Issued | 0 | 0 | 0 | 7.54M | 221K | 66K | 36K | 0 | 0 |
| Net Stock Activity | 0 | 0 | 0 | 7.54M | 221K | -329K | -364K | -2.2M | -2.63M |
| Debt Issuance (Net) | -663K | 84K | -1000K | -438K | 1000K | 451K | 1000K | -1000K | 1000K |
| Other Financing | -896K | -2.54M | 0 | -102K | -987K | -44K | -122K | -117K | -80K |
| Net Change in Cash | -421K▲ 0% | 2.16M▲ 612.8% | -1.54M▼ 171.3% | 20.66M▲ 1441.4% | -9.76M▼ 147.3% | -955K▲ 90.2% | -388K▲ 59.4% | 9.47M▲ 2540.7% | -1.23M▼ 113.0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 2.53M | 2.11M | 4.27M | 2.73M | 23.39M | 13.62M | 12.67M | 12.28M | 21.75M |
| Cash at End | 2.11M | 4.27M | 2.73M | 23.39M | 13.62M | 12.67M | 12.28M | 21.75M | 20.52M |
| Interest Paid | 3K | 249K | 74K | 43K | 22K | 103K | 411K | 91K | 0 |
| Income Taxes Paid | 23K | 56K | 290K | 143K | 116K | 297K | 848K | 640K | 0 |
| Free Cash Flow | 1.14M▲ 0% | 7.37M▲ 547.7% | 678K▼ 90.8% | 9.14M▲ 1248.2% | -4.06M▼ 144.4% | 6.27M▲ 254.5% | 12.76M▲ 103.6% | 7.61M▼ 40.4% | -2.33M▼ 130.7% |
| FCF Growth % | -70.17% | 547.72% | -90.8% | 1248.23% | -144.37% | 254.54% | 103.64% | -40.39% | -130.67% |
HGBL Banking Ratios
Heritage Global Inc. (HGBL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 0.41% | -7.13% | 67.66% | 40.1% | 46.22% | 9.76% | 38.28% | 22.81% | 8.21% | 5.43% |
| Return on Assets (ROA) | 0.08% | -1.74% | 22.01% | 18.33% | 29.06% | 6.43% | 26.25% | 16.55% | 6.3% | 4.23% |
| Net Interest Margin | -0.42% | -0.71% | -1.04% | -0.29% | -0.1% | -0.04% | -0.17% | -0.39% | -0.11% | 0.15% |
| Efficiency Ratio | 33.94% | 53.63% | 44.83% | 24.57% | 16.33% | 31% | -1.55% | 11.69% | 11.34% | 73.44% |
| Equity / Assets | 23.07% | 25.93% | 36.84% | 54.05% | 67.2% | 64.68% | 71.49% | 73.44% | 80.19% | 75.74% |
| Book Value / Share | 0.12 | 0.12 | 0.26 | 0.4 | 0.92 | 0.88 | 1.3 | 1.63 | 1.76 | 1.89 |
| NII Growth | 81.95% | -50.79% | -125.26% | 70.09% | 29.69% | 51.11% | -413.64% | -186.73% | 71.3% | 244.09% |
HGBL SEC Filings & Documents
Heritage Global Inc. (HGBL) SEC filings — annual & quarterly reports (10-K, 10-Q)
HGBL Frequently Asked Questions
Heritage Global Inc. (HGBL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Heritage Global Inc. (HGBL) grew revenue by 12.4% over the past year. This is steady growth.
Yes, Heritage Global Inc. (HGBL) is profitable, generating $3.6M in net income for fiscal year 2025 (7.0% net margin).
Dividend & Returns
Heritage Global Inc. (HGBL) has a return on equity (ROE) of 5.4%. This is below average, suggesting room for improvement.
Industry Metrics
Heritage Global Inc. (HGBL) has a net interest margin (NIM) of 0.2%. NIM has been under pressure due to interest rate environment.
Heritage Global Inc. (HGBL) has an efficiency ratio of 73.4%. This is higher than peers, suggesting room for cost optimization.
Explore More HGBL
Heritage Global Inc. (HGBL) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
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Dividend History
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Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
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Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates