Friday 6 November 2026 Export HGBL’s income statement to Excel — free account

Heritage Global Inc.

HGBL Financial Capital Markets

Heritage Global Inc.’s revenue for fiscal 2025 (year ended December 2025) was $51.0 million, up 12.4% from fiscal 2024.

Revenue: +28.4%
EPS: +50.0%
Free cash flow: +1,218.9%
Total debt: +48.8%

Quarter to September 2026, against a year earlier

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Market cap: $43.7M
P/E: 0.0×
Fwd P/E: −3.4×
Dividend yield: —
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	7	4	7	2	5	2	5	6	7	5
P/E ratio Full definition →	266.67	0.00	3.35	7.54	9.13	20.78	5.60	8.09	12.73	11.27
P/S ratio Full definition →	0.67	0.64	0.54	1.07	3.07	2.57	1.85	1.67	1.49	0.85
P/FCF ratio Full definition →	4.17	11.50	1.74	41.43	8.79	0.00	13.85	7.90	8.86	0.00
P/Operating CF Full definition →	(248.51)	(19.50)	4.15	(111.02)	12.67	44.35	22.19	226.15	(12.23)	27.34
P/B ratio Full definition →	4.56	3.68	1.69	2.37	2.68	2.03	1.80	1.65	1.03	0.64
Price to Tangible BV Full definition →	0.00	0.00	0.00	9.81	3.78	3.22	2.37	2.02	1.24	0.77
EV/Sales Full definition →	0.60	0.61	0.43	1.02	2.21	2.19	1.67	1.58	1.12	0.53
EV/EBITDA Full definition →	28.43	18.06	2.32	6.82	9.07	15.63	6.57	6.58	4.95	3.92
EV/Operating CF Full definition →	3.67	10.34	1.37	33.72	6.33	(21.48)	12.10	7.36	6.54	4.38
EV/FCF Full definition →	3.78	10.97	1.39	39.49	6.34	(13.93)	12.51	7.51	6.65	(11.53)
Quick Ratio Full definition →	0.44	0.29	0.46	0.50	1.78	1.15	0.84	0.96	1.60	1.44
Current Ratio Full definition →	0.52	0.35	0.76	0.74	1.93	1.64	1.47	1.78	2.27	2.16
Net Debt/EBITDA Full definition →	(3.00)	(0.86)	(0.60)	(0.33)	(3.50)	(2.71)	(0.70)	(0.35)	(2.09)	(2.39)
Debt/Assets Full definition →	6.68%	11.33%	7.83%	6.46%	2.25%	7.59%	6.34%	8.69%	0.49%	4.64%
Debt/Equity Full definition →	0.29	0.44	0.21	0.12	0.03	0.12	0.09	0.12	0.01	0.06
Asset Turnover Full definition →	1.40	1.41	1.39	1.23	0.79	0.54	0.80	0.80	0.55	0.60
Operating CF/Net income Full definition →	279.86	(4.75)	1.99	0.20	0.95	(0.86)	0.42	1.04	1.49	1.71
Capex/Depreciation Full definition →	(0.31)	(0.14)	(0.31)	(0.13)	(0.02)	(2.37)	(0.26)	(1.07)	(0.12)	(7.34)
Interest Coverage Full definition →	3.02	3.83	19.06	47.66	134.64	137.00	98.41	44.19	97.48	—
ROE Full definition →	0.41%	(7.14%)	67.73%	40.12%	46.23%	9.76%	38.29%	22.81%	8.21%	5.43%
ROA Full definition →	0.08%	(1.74%)	22.01%	18.33%	29.06%	6.43%	26.25%	16.55%	6.30%	4.23%
ROIC Full definition →	6.01%	7.84%	51.51%	18.10%	50.08%	8.24%	17.41%	15.97%	12.92%	7.06%
Return on Tangible Assets Full definition →	(0.35%)	4.53%	(161.96%)	(182.45%)	73.76%	28.99%	167.73%	94.06%	25.69%	12.39%
Average Days of Receivables Full definition →	19.10	6.96	6.17	25.93	20.85	38.66	7.69	11.51	12.54	13.30
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	50.39%	67.55%	64.31%	60.66%	55.18%	57.42%	45.46%	43.01%	53.50%	48.99%
Intangible Assets out of Total Assets Full definition →	0.68	0.75	0.47	0.41	0.20	0.24	0.17	0.13	0.13	0.12
Share Based Compensation of Revenue Full definition →	0.42%	1.22%	1.22%	1.08%	1.35%	1.58%	1.15%	1.28%	2.76%	1.77%
Graham Net Nets Full definition →	(0.45)	(0.54)	(0.42)	(0.12)	0.15	0.08	0.05	0.04	0.25	0.28
Graham Number Full definition →	0.08	0.00	0.90	1.10	2.55	1.37	3.60	3.57	2.42	2.18
Earnings Yield Full definition →	0.37%	(1.71%)	29.84%	13.27%	10.95%	4.81%	17.84%	12.36%	7.85%	8.87%
Free Cash Flow Yield Full definition →	23.96%	8.70%	57.31%	2.41%	11.38%	(6.12%)	7.22%	12.65%	11.29%	(5.40%)
Revenue per Share Full definition →	0.84	0.71	0.83	0.91	0.87	0.73	1.30	1.65	1.25	1.46
Operating CF per Share Full definition →	0.14	0.04	0.26	0.03	0.30	(0.07)	0.18	0.36	0.21	0.18
Capex per Share Full definition →	0.00	0.00	0.00	0.00	0.00	(0.04)	(0.01)	(0.01)	0.00	(0.24)
Free Cash Flow per Share Full definition →	0.13	0.04	0.26	0.02	0.30	(0.11)	0.17	0.35	0.21	(0.07)
Cash per Share Full definition →	0.09	0.07	0.15	0.10	0.77	0.38	0.35	0.33	0.60	0.59
Shareholders Equity per Share Full definition →	0.12	0.12	0.27	0.41	0.99	0.92	1.34	1.67	1.79	1.92
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	0.12	0.12	0.27	0.41	0.99	0.92	1.34	1.67	1.79	1.92
Free Cash Flow Full definition →	3.82	1.14	7.37	0.68	9.14	(4.06)	6.27	12.76	7.61	(2.33)
Working Capital Full definition →	(4.14)	(5.64)	(2.49)	(2.36)	12.96	9.06	7.67	11.56	18.53	18.06
Capital Expenditures Full definition →	(0.10)	(0.04)	(0.10)	(0.12)	(0.01)	(1.42)	(0.21)	(0.26)	(0.14)	(8.47)
Net Current Asset Value Full definition →	(7.22)	(6.94)	(5.35)	(3.30)	12.34	5.46	4.63	4.20	17.02	12.14
EV/EBIT Full definition →	75.72	33.59	2.50	8.78	9.56	18.75	7.05	6.69	5.58	4.71
Capex to Sales Full definition →	0.00	0.00	0.00	0.00	0.00	0.06	0.00	0.00	0.00	0.17
Price to Operating Income Full definition →	83.71	35.20	3.15	9.21	13.26	22.00	7.81	7.04	7.43	7.56
Other line items
Depreciation/Fixed assets Full definition →	2.03	2.16	1.82	3.97	2.55	0.41	0.52	0.14	0.70	0.11
Cash ROIC Full definition →	54.28%	15.98%	54.66%	4.24%	16.82%	(8.10%)	9.61%	15.84%	8.71%	(2.55%)
Accounts Receivable Turnover Full definition →	25.27	24.68	60.37	23.17	15.61	12.20	25.22	41.78	26.15	29.85
Accounts Payable Turnover Full definition →	1.69	0.80	0.62	0.95	0.84	0.81	3.05	2.57	2.23	3.35
Inventory Turnover Full definition →	34.40	21.77	3.14	6.17	53.74	4.30	5.33	4.28	2.71	3.54
Average Days of Payables Full definition →	217.56	388.70	730.45	382.64	545.32	235.52	155.78	127.42	140.28	118.71
Days of Inventory on Hand Full definition →	8.48	13.17	216.85	4.91	9.42	158.23	80.63	89.34	138.19	108.53
Average Receivables Full definition →	0.94	0.82	0.39	1.13	1.68	2.11	1.86	1.45	1.73	1.71
Average Payables Full definition →	6.69	5.88	6.56	8.11	10.86	9.20	6.86	8.08	6.33	5.96
Average Inventory Full definition →	0.33	0.22	1.29	1.25	0.17	1.73	3.92	4.85	5.21	5.64
Average Assets Full definition →	16.97	14.30	17.04	21.27	33.24	47.51	59.01	75.36	82.24	84.87
Average Common Equity Full definition →	3.44	3.49	5.54	9.72	20.89	31.29	40.46	54.68	63.13	66.09

Show all line items

Columns are period end dates · fundamentals updated 5 Nov 2026

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