Heritage Global Inc. (HGBL) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Financial - Capital Markets
EV/EBITDA
↓
4.24
↓-48% vs avg
5yr avg: 8.17
30Y Low0.9·High38.3
P/FCF
↓
N/A
—
5yr avg: 10.37
30Y Low0.6·High42.3
P/B Ratio
↓
0.66
↓-55% vs avg
5yr avg: 1.47
30Y Low0.3·High22.2
ROE
↓
5.4%
↑-68% vs avg
5yr avg: 16.9%
30Y Low-335%·High289%
Debt/EBITDA
↓
0.85
↓-1% vs avg
5yr avg: 0.86
30Y Low0.2·High33.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HGBL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Heritage Global Inc. trades at 12.5x earnings, roughly in line with its 5-year average of 12.4x, sitting at the 82nd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 8%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $43M | $44M | $69M | $104M | $87M | $69M | $87M | $29M | $13M | $11M | $13M |
| Enterprise Value | $29M | $29M | $50M | $102M | $82M | $62M | $65M | $28M | $10M | $10M | $12M |
| P/E Ratio → | 12.50 | 12.40 | 13.21 | 8.42 | 5.60 | 22.61 | 8.87 | 7.54 | 3.50 | — | 940.00 |
| P/S Ratio | 0.85 | 0.86 | 1.51 | 1.73 | 1.86 | 2.68 | 3.32 | 1.10 | 0.55 | 0.52 | 0.56 |
| P/B Ratio | 0.66 | 0.66 | 1.05 | 1.71 | 1.80 | 2.11 | 2.91 | 2.42 | 1.73 | 3.02 | 3.82 |
| P/FCF | — | — | 9.03 | 8.19 | 13.91 | — | 9.52 | 42.31 | 1.78 | 9.26 | 3.50 |
| P/OCF | 7.08 | 7.16 | 8.87 | 8.02 | 13.45 | — | 9.51 | 36.13 | 1.76 | 8.91 | 3.41 |
P/E links to full P/E history page with 30-year chart
HGBL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Heritage Global Inc.'s enterprise value stands at 4.2x EBITDA, 48% below its 5-year average of 8.2x. The Financial Services sector median is 11.4x, placing the stock at a 63% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.57 | 1.09 | 1.69 | 1.74 | 2.40 | 2.47 | 1.07 | 0.44 | 0.49 | 0.50 |
| EV / EBITDA | 4.24 | 4.32 | 4.81 | 6.88 | 7.01 | 17.84 | 10.06 | 8.33 | 2.38 | 14.70 | 23.41 |
| EV / EBIT | 5.12 | 5.21 | 5.48 | 7.13 | 7.34 | 20.56 | 10.67 | 9.16 | 2.47 | — | 120.88 |
| EV / FCF | — | — | 6.53 | 8.00 | 13.03 | — | 7.07 | 41.22 | 1.42 | 8.74 | 3.11 |
HGBL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Heritage Global Inc. earns an operating margin of 11.0%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 23.7% to 11.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 5.4% is modest, trailing the sector median of 9.0%. ROIC of 6.0% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.1% | 27.1% | 31.3% | 35.3% | 22.2% | 42.7% | 39.5% | 36.2% | 62.1% | 55.4% | 34.7% |
| Operating Margin | 11.0% | 11.0% | 20.0% | 23.7% | 23.7% | 11.7% | 23.1% | 11.7% | 17.2% | 1.8% | 0.8% |
| Net Profit Margin | 7.0% | 7.0% | 11.4% | 20.6% | 33.0% | 11.8% | 36.9% | 14.9% | 15.9% | -1.2% | 0.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.4% | 5.4% | 8.2% | 22.8% | 38.3% | 9.8% | 46.2% | 40.1% | 67.7% | -7.1% | 0.4% |
| ROA | 4.2% | 4.2% | 6.3% | 16.6% | 26.3% | 6.4% | 29.1% | 18.3% | 22.0% | -1.7% | 0.1% |
| ROIC | 6.0% | 6.0% | 9.8% | 17.0% | 17.6% | 6.4% | 20.3% | 19.8% | 43.0% | 5.7% | 2.4% |
| ROCE | 8.0% | 8.0% | 13.4% | 23.9% | 25.4% | 9.0% | 28.0% | 26.2% | 53.5% | 6.4% | 2.4% |
HGBL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Heritage Global Inc. carries a Debt/EBITDA ratio of 0.8x, which is very conservative (80% below the sector average of 4.3x). The company holds a net cash position — cash of $21M exceeds total debt of $6M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.04 | 0.16 | 0.15 | 0.20 | 0.03 | 0.17 | 0.21 | 0.44 | 0.29 |
| Debt / EBITDA | 0.85 | 0.85 | 0.26 | 0.67 | 0.61 | 1.89 | 0.16 | 0.59 | 0.37 | 2.25 | 2.00 |
| Net Debt / Equity | — | -0.22 | -0.29 | -0.04 | -0.11 | -0.22 | -0.75 | -0.06 | -0.35 | -0.17 | -0.43 |
| Net Debt / EBITDA | -2.19 | -2.19 | -1.85 | -0.16 | -0.47 | -2.03 | -3.49 | -0.22 | -0.60 | -0.86 | -3.00 |
| Debt / FCF | — | — | -2.50 | -0.19 | -0.88 | — | -2.45 | -1.09 | -0.36 | -0.51 | -0.40 |
| Interest Coverage | — | — | 97.48 | 44.19 | 98.41 | 137.00 | 134.64 | 47.66 | 19.79 | -6.04 | 1.56 |
Net cash position: cash ($21M) exceeds total debt ($6M)
HGBL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Heritage Global Inc.'s current ratio of 2.16x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.78x to 2.16x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.16 | 2.16 | 2.27 | 1.78 | 1.47 | 1.64 | 1.93 | 0.74 | 0.76 | 0.35 | 0.52 |
| Quick Ratio | 2.16 | 2.16 | 2.27 | 1.78 | 1.47 | 1.64 | 1.93 | 0.74 | 0.76 | 0.35 | 0.52 |
| Cash Ratio | 1.32 | 1.32 | 1.49 | 0.83 | 0.78 | 0.96 | 1.67 | 0.30 | 0.42 | 0.24 | 0.30 |
| Asset Turnover | — | 0.58 | 0.56 | 0.73 | 0.69 | 0.51 | 0.59 | 1.19 | 1.15 | 1.50 | 1.57 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HGBL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Heritage Global Inc. returns 6.0% to shareholders annually primarily through share buybacks. The earnings yield of 8.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.0% | 8.1% | 7.6% | 11.9% | 17.9% | 4.4% | 11.3% | 13.3% | 28.6% | — | 0.1% |
| FCF Yield | — | — | 11.1% | 12.2% | 7.2% | — | 10.5% | 2.4% | 56.1% | 10.8% | 28.5% |
| Buyback Yield | 6.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 6.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $35M | $37M | $38M | $37M | $37M | $33M | $29M | $29M | $28M | $28M |
Peer Comparison
Compare HGBL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HGBLYou | $43M | 12.5 | 4.2 | — | 27.1% | 11.0% | 5.4% | 6.0% | 0.8 |
 CPSS | $211M | 12.2 | 14.2 | 0.7 | 99.6% | 60.8% | 6.4% | 5.4% | 13.4 |
 RILY | $334M | 0.9 | 8.5 | — | 65.0% | 14.6% | — | 8.3% | 7.9 |
 ASST | $915M | -1.5 | — | — | 96.2% | -763.1% | -114.6% | -9.8% | — |
 COHU | $3B | -43.6 | — | 303.8 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 GBX | $2B | 7.8 | 6.6 | — | 18.6% | 10.4% | 12.3% | 7.6% | 4.0 |
 KFRC | $830M | 23.2 | 16.1 | 17.7 | 26.8% | 3.8% | 24.9% | 19.1% | 1.3 |
 LQDT | $1B | 43.6 | 22.5 | 20.0 | 43.8% | 7.4% | 14.6% | 60.8% | 0.3 |
 HY | $697M | -11.6 | 15.1 | 29.5 | 16.8% | 0.5% | -12.2% | 1.6% | 6.1 |
 FCFS | $10B | 30.6 | 12.8 | 21.4 | 51.7% | 15.4% | 15.3% | 9.2% | 2.8 |
 ECPG | $2B | 7.6 | 8.8 | 14.0 | 69.0% | 35.4% | 29.5% | 9.8% | 6.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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HGBL — Frequently Asked Questions
Quick answers to the most common questions about buying HGBL stock.
What is Heritage Global Inc.'s P/E ratio?
Heritage Global Inc.'s current P/E ratio is 12.5x. The historical average is 7.7x. This places it at the 82th percentile of its historical range.
What is Heritage Global Inc.'s EV/EBITDA?
Heritage Global Inc.'s current EV/EBITDA is 4.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.1x.
What is Heritage Global Inc.'s ROE?
Heritage Global Inc.'s return on equity (ROE) is 5.4%. The historical average is -10.5%.
Is HGBL stock overvalued?
Based on historical data, Heritage Global Inc. is trading at a P/E of 12.5x. This is at the 82th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Heritage Global Inc.'s profit margins?
Heritage Global Inc. has 27.1% gross margin and 11.0% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Heritage Global Inc. have?
Heritage Global Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.