Saturday 17 October 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. In the quarter to June 2026, revenue fell 14.3%, EPS fell 1,020.0%, free cash flow fell 18.1% and total debt fell 3.16%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 7 | 6 | 5 | 2 | 5 | 2 | 7 | 4 | 7 |
P/E ratio |
11.27 | 12.73 | 8.09 | 5.60 | 20.78 | 9.13 | 7.54 | 3.35 | 0.00 | 266.67 |
P/S ratio |
0.85 | 1.49 | 1.67 | 1.85 | 2.57 | 3.07 | 1.07 | 0.54 | 0.64 | 0.67 |
P/FCF ratio |
0.00 | 8.86 | 7.90 | 13.85 | 0.00 | 8.79 | 41.43 | 1.74 | 11.50 | 4.17 |
P/Operating CF |
27.34 | (12.23) | 226.15 | 22.19 | 44.35 | 12.67 | (111.02) | 4.15 | (19.50) | (248.51) |
P/B ratio |
0.64 | 1.03 | 1.65 | 1.80 | 2.03 | 2.68 | 2.37 | 1.69 | 3.68 | 4.56 |
Price to Tangible BV |
0.77 | 1.24 | 2.02 | 2.37 | 3.22 | 3.78 | 9.81 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.53 | 1.12 | 1.58 | 1.67 | 2.19 | 2.21 | 1.02 | 0.43 | 0.61 | 0.60 |
EV/EBITDA |
3.92 | 4.95 | 6.58 | 6.57 | 15.63 | 9.07 | 6.82 | 2.32 | 18.06 | 28.43 |
EV/Operating CF |
4.38 | 6.54 | 7.36 | 12.10 | (21.48) | 6.33 | 33.72 | 1.37 | 10.34 | 3.67 |
EV/FCF |
(11.53) | 6.65 | 7.51 | 12.51 | (13.93) | 6.34 | 39.49 | 1.39 | 10.97 | 3.78 |
Quick Ratio |
1.44 | 1.60 | 0.96 | 0.84 | 1.15 | 1.78 | 0.50 | 0.46 | 0.29 | 0.44 |
Current Ratio |
2.16 | 2.27 | 1.78 | 1.47 | 1.64 | 1.93 | 0.74 | 0.76 | 0.35 | 0.52 |
Net Debt/EBITDA |
(2.39) | (2.09) | (0.35) | (0.70) | (2.71) | (3.50) | (0.33) | (0.60) | (0.86) | (3.00) |
Debt/Assets |
4.64% | 0.49% | 8.69% | 6.34% | 7.59% | 2.25% | 6.46% | 7.83% | 11.33% | 6.68% |
Debt/Equity |
0.06 | 0.01 | 0.12 | 0.09 | 0.12 | 0.03 | 0.12 | 0.21 | 0.44 | 0.29 |
Asset Turnover |
0.60 | 0.55 | 0.80 | 0.80 | 0.54 | 0.79 | 1.23 | 1.39 | 1.41 | 1.40 |
Operating CF/Net income |
1.71 | 1.49 | 1.04 | 0.42 | (0.86) | 0.95 | 0.20 | 1.99 | (4.75) | 279.86 |
Capex/Depreciation |
(7.34) | (0.12) | (1.07) | (0.26) | (2.37) | (0.02) | (0.13) | (0.31) | (0.14) | (0.31) |
Interest Coverage |
— | 97.48 | 44.19 | 98.41 | 137.00 | 134.64 | 47.66 | 19.06 | 3.83 | 3.02 |
| 5.43% | 8.21% | 22.81% | 38.29% | 9.76% | 46.23% | 40.12% | 67.73% | (7.14%) | 0.41% | |
| 4.23% | 6.30% | 16.55% | 26.25% | 6.43% | 29.06% | 18.33% | 22.01% | (1.74%) | 0.08% | |
ROIC |
7.06% | 12.92% | 15.97% | 17.41% | 8.24% | 50.08% | 18.10% | 51.51% | 7.84% | 6.01% |
Return on Tangible Assets |
12.39% | 25.69% | 94.06% | 167.73% | 28.99% | 73.76% | (182.45%) | (161.96%) | 4.53% | (0.35%) |
Average Days of Receivables |
13.30 | 12.54 | 11.51 | 7.69 | 38.66 | 20.85 | 25.93 | 6.17 | 6.96 | 19.10 |
Research and Development Expense of Revenue |
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 |
48.99% | 53.50% | 43.01% | 45.46% | 57.42% | 55.18% | 60.66% | 64.31% | 67.55% | 50.39% |
Intangible Assets out of Total Assets |
0.12 | 0.13 | 0.13 | 0.17 | 0.24 | 0.20 | 0.41 | 0.47 | 0.75 | 0.68 |
Share Based Compensation of Revenue |
1.77% | 2.76% | 1.28% | 1.15% | 1.58% | 1.35% | 1.08% | 1.22% | 1.22% | 0.42% |
Graham Net Nets |
0.28 | 0.25 | 0.04 | 0.05 | 0.08 | 0.15 | (0.12) | (0.42) | (0.54) | (0.45) |
Graham Number |
2.18 | 2.42 | 3.57 | 3.60 | 1.37 | 2.55 | 1.10 | 0.90 | 0.00 | 0.08 |
Earnings Yield |
8.87% | 7.85% | 12.36% | 17.84% | 4.81% | 10.95% | 13.27% | 29.84% | (1.71%) | 0.37% |
Free Cash Flow Yield |
(5.40%) | 11.29% | 12.65% | 7.22% | (6.12%) | 11.38% | 2.41% | 57.31% | 8.70% | 23.96% |
Revenue per Share |
1.46 | 1.25 | 1.65 | 1.30 | 0.73 | 0.87 | 0.91 | 0.83 | 0.71 | 0.84 |
Operating CF per Share |
0.18 | 0.21 | 0.36 | 0.18 | (0.07) | 0.30 | 0.03 | 0.26 | 0.04 | 0.14 |
Capex per Share |
(0.24) | 0.00 | (0.01) | (0.01) | (0.04) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Free Cash Flow per Share |
(0.07) | 0.21 | 0.35 | 0.17 | (0.11) | 0.30 | 0.02 | 0.26 | 0.04 | 0.13 |
Cash per Share |
0.59 | 0.60 | 0.33 | 0.35 | 0.38 | 0.77 | 0.10 | 0.15 | 0.07 | 0.09 |
Shareholders Equity per Share |
1.92 | 1.79 | 1.67 | 1.34 | 0.92 | 0.99 | 0.41 | 0.27 | 0.12 | 0.12 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
1.92 | 1.79 | 1.67 | 1.34 | 0.92 | 0.99 | 0.41 | 0.27 | 0.12 | 0.12 |
Free Cash Flow |
(2.33) | 7.61 | 12.76 | 6.27 | (4.06) | 9.14 | 0.68 | 7.37 | 1.14 | 3.82 |
Working Capital |
18.06 | 18.53 | 11.56 | 7.67 | 9.06 | 12.96 | (2.36) | (2.49) | (5.64) | (4.14) |
Capital Expenditures |
(8.47) | (0.14) | (0.26) | (0.21) | (1.42) | (0.01) | (0.12) | (0.10) | (0.04) | (0.10) |
Net Current Asset Value |
12.14 | 17.02 | 4.20 | 4.63 | 5.46 | 12.34 | (3.30) | (5.35) | (6.94) | (7.22) |
EV/EBIT |
4.71 | 5.58 | 6.69 | 7.05 | 18.75 | 9.56 | 8.78 | 2.50 | 33.59 | 75.72 |
Capex to Sales |
0.17 | 0.00 | 0.00 | 0.00 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
7.56 | 7.43 | 7.04 | 7.81 | 22.00 | 13.26 | 9.21 | 3.15 | 35.20 | 83.71 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.11 | 0.70 | 0.14 | 0.52 | 0.41 | 2.55 | 3.97 | 1.82 | 2.16 | 2.03 |
Cash ROIC |
(2.55%) | 8.71% | 15.84% | 9.61% | (8.10%) | 16.82% | 4.24% | 54.66% | 15.98% | 54.28% |
Accounts Receivable Turnover |
29.85 | 26.15 | 41.78 | 25.22 | 12.20 | 15.61 | 23.17 | 60.37 | 24.68 | 25.27 |
Accounts Payable Turnover |
3.35 | 2.23 | 2.57 | 3.05 | 0.81 | 0.84 | 0.95 | 0.62 | 0.80 | 1.69 |
Inventory Turnover |
3.54 | 2.71 | 4.28 | 5.33 | 4.30 | 53.74 | 6.17 | 3.14 | 21.77 | 34.40 |
Average Days of Payables |
118.71 | 140.28 | 127.42 | 155.78 | 235.52 | 545.32 | 382.64 | 730.45 | 388.70 | 217.56 |
Days of Inventory on Hand |
108.53 | 138.19 | 89.34 | 80.63 | 158.23 | 9.42 | 4.91 | 216.85 | 13.17 | 8.48 |
Average Receivables |
1.71 | 1.73 | 1.45 | 1.86 | 2.11 | 1.68 | 1.13 | 0.39 | 0.82 | 0.94 |
Average Payables |
5.96 | 6.33 | 8.08 | 6.86 | 9.20 | 10.86 | 8.11 | 6.56 | 5.88 | 6.69 |
Average Inventory |
5.64 | 5.21 | 4.85 | 3.92 | 1.73 | 0.17 | 1.25 | 1.29 | 0.22 | 0.33 |
Average Assets |
84.87 | 82.24 | 75.36 | 59.01 | 47.51 | 33.24 | 21.27 | 17.04 | 14.30 | 16.97 |
Average Common Equity |
66.09 | 63.13 | 54.68 | 40.46 | 31.29 | 20.89 | 9.72 | 5.54 | 3.49 | 3.44 |
Columns are period end dates