What is HERITAGE GLOBAL INC's earnings per share (EPS)?

HERITAGE GLOBAL INC (HGBL) reported diluted earnings per share of $0.10 for fiscal year 2025. This represents a -28.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

HERITAGE GLOBAL INC (HGBL) Financials

HGBL

Trailing 12 months to June 30, 2026

Revenue $48.2M -1.5% YoY

Net Income -$14.3M -498.2% YoY

EPS (Diluted) -$0.41 -472.7% YoY

Free Cash Flow -$1.1M +64.6% YoY

Market Cap $43.6M as of Oct 12, 2026

Price / Sales 0.9x on $48.2M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 0.8x on $51.9M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 13, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HGBL SEC filings page.

HERITAGE GLOBAL INC (HGBL) reported $48.2M in revenue over the twelve months to Jun 30, 2026, down 1.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI HGBL FY2025 2026-10-03

FY2025 showed a growing top line but weaker margins and investment-heavy cash conversion, making scale less profitable than FY2024.

Operating cash flow of $6.1M still became free cash flow of -$2.3M, showing that FY2025’s reinvestment absorbed more cash than the business generated after operations.

Revenue recovered in FY2025, while operating margin compressed to 11.2% from 20.0%; the combination indicates growth with weaker incremental economics rather than simple scale benefits. Net margin also fell to 7.0%, so the pressure reached the bottom line.

The balance sheet remained comparatively liquid, with a current ratio of 2.2x and debt-to-equity of 0.3x, but capital intensity changed sharply: capital expenditures reached $8.5M while the company also repurchased $2.6M of stock. That pairing helps explain why equity increased even as free cash flow turned negative.

Financial Health Signals

Financial Health Score 38/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of HERITAGE GLOBAL 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.

Earnings

HERITAGE GLOBAL INC earned a return on assets of 4.1% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 6.4% the prior year. Earnings ranks banks on that return over three years, and HERITAGE GLOBAL INC scores 98/100 among other banks.

Growth

HERITAGE GLOBAL INC reported revenue of $51.0M in fiscal year 2025, against $45.4M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and HERITAGE GLOBAL INC scores 8/100 among other banks.

Capital

HERITAGE GLOBAL INC funded 75.7% of its assets with shareholders' equity at the end of fiscal year 2025, holding $67.0M of equity against $88.4M of assets. Capital ranks banks on that cushion, and HERITAGE GLOBAL INC scores 97/100 among other banks.

Efficiency

Not available for HERITAGE GLOBAL INC, and counted as zero in the overall score.

Credit Quality

Not available for HERITAGE GLOBAL INC, and counted as zero in the overall score.

Stability

HERITAGE GLOBAL INC reported net income of $3.6M in fiscal year 2025, against $5.2M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and HERITAGE GLOBAL INC scores 27/100 among other banks.

Piotroski F-Score Partial

5/7

HERITAGE GLOBAL INC passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.71x

For every $1 of reported earnings, HERITAGE GLOBAL INC generates $1.71 in operating cash flow ($6.1M OCF vs $3.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$12.3M

YoY-14.3%

QoQ-3.6%

5Y CAGR+18.8%

10Y CAGR+12.0%

HERITAGE GLOBAL INC generated $12.3M in revenue in Q2 2026. This represents a decrease of 14.3% from the same quarter a year earlier. Against the prior quarter it is down 3.6%.

EBITDA

-$20.7M

YoY-979.6%

QoQ-1848.8%

HERITAGE GLOBAL INC's EBITDA was -$20.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 979.6% from the same quarter a year earlier. Against the prior quarter it is down 1848.8%.

Net Income

-$15.9M

YoY-1070.6%

QoQ-2315.9%

HERITAGE GLOBAL INC reported -$15.9M in net income in Q2 2026. This represents a decrease of 1070.6% from the same quarter a year earlier. Against the prior quarter it is down 2315.9%.

EPS (Diluted)

-$0.46

YoY-1020.0%

QoQ-2400.0%

HERITAGE GLOBAL INC earned -$0.46 per diluted share (EPS) in Q2 2026. This represents a decrease of 1020.0% from the same quarter a year earlier. Against the prior quarter it is down 2400.0%.

Cash & Balance Sheet

Free Cash Flow

$1.4M

YoY-18.1%

QoQ+143.4%

5Y CAGR-1.6%

HERITAGE GLOBAL INC generated $1.4M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 18.1% from the same quarter a year earlier. Against the prior quarter it is up 143.4%.

Cash & Debt

$13.2M

YoY-33.6%

QoQ+13.9%

5Y CAGR-5.5%

10Y CAGR+20.5%

HERITAGE GLOBAL INC held $13.2M in cash against $4.1M in long-term debt as of Q2 2026.

Shares Outstanding

35M

YoY-0.3%

QoQ-0.3%

5Y CAGR-0.9%

10Y CAGR+2.0%

HERITAGE GLOBAL INC had 35M shares outstanding in Q2 2026. This represents a decrease of 0.3% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-30.6%

YoY-33.1pp

QoQ-31.7pp

5Y change-32.5pp

10Y change-45.7pp

HERITAGE GLOBAL INC's ROE was -30.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 33.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Share Buybacks

$134K

YoY-91.5%

QoQ-5.0%

HERITAGE GLOBAL INC spent $134K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 91.5% from the same quarter a year earlier. Against the prior quarter it is down 5.0%.

Capital Expenditures

$209K

YoY+31.4%

QoQ-62.8%

5Y CAGR+83.7%

HERITAGE GLOBAL INC invested $209K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 31.4% from the same quarter a year earlier. Against the prior quarter it is down 62.8%.

R&D Spending

Not reported for Q2 2026.

HGBL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HGBL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$48.2M	$51.0M+12.4%	$45.4M-25.1%	$60.5M+29.1%	$46.9M+81.9%	$25.8M-1.5%	$26.2M+0.1%	$26.2M+10.6%	$23.7M+17.6%	$20.1M-15.5%	$23.8M+36.7%	$17.4M-12.8%	$20.0M+124.8%	$8.9M-37.1%	$14.1M-18.0%	$17.2M
Cost of Revenue	N/A	$37.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.7M-76.1%	$7.1M+109.0%	$3.4M-26.3%	$4.6M+71.1%	$2.7M	N/A	N/A
Gross Profit	N/A	$14.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$18.4M+10.3%	$16.7M+19.1%	$14.0M-8.7%	$15.4M+148.2%	$6.2M	N/A	N/A
SG&A Expenses	$30.8M	$25.0M+2.9%	$24.3M-6.8%	$26.0M+22.1%	$21.3M+44.0%	$14.8M+2.5%	$14.4M-9.0%	$15.9M+4.3%	$15.2M+11.9%	$13.6M+13.2%	$12.0M-6.0%	$12.8M+14.2%	$11.2M+15.8%	$9.7M-6.6%	$10.3M+134.6%	$4.4M
Operating Income	-$17.8M	$5.7M-37.0%	$9.1M-36.7%	$14.3M+28.8%	$11.1M+268.9%	$3.0M-50.3%	$6.1M+98.7%	$3.0M-25.2%	$4.1M+1020.3%	$364K+91.6%	$190K+101.8%	-$10.4M-444.9%	-$1.9M+35.3%	-$2.9M-19.7%	-$2.5M-153.5%	$4.6M
EBITDA	N/A	$6.2M-36.0%	$9.7M-34.9%	$14.8M+27.3%	$11.7M+235.5%	$3.5M-45.9%	$6.4M+91.4%	$3.4M-23.7%	$4.4M+549.5%	$677K+33.8%	$506K+105.2%	-$9.8M-633.1%	-$1.3M+45.9%	-$2.5M-20.5%	-$2.0M-144.6%	$4.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$182K-47.9%	$349K-29.5%	$495K+27.6%	$388K	N/A	$245K
Income Tax	-$3.6M	$2.3M-40.4%	$3.8M+149.4%	$1.5M+133.9%	-$4.5M-7254.1%	-$61K+98.3%	-$3.6M-299.1%	-$913K-438.1%	$270K+164.3%	-$420K-2100.0%	$21K+40.0%	$15K-99.9%	$24.7M+716.2%	$3.0M+409.7%	-$978K+96.3%	-$26.3M
Net Income	-$14.3M	$3.6M-30.8%	$5.2M-58.5%	$12.5M-19.5%	$15.5M+407.5%	$3.1M-68.4%	$9.7M+147.7%	$3.9M+3.9%	$3.8M+1606.4%	-$249K-1878.6%	$14K+100.1%	-$10.4M+60.7%	-$26.5M-314.5%	-$6.4M-252.8%	-$1.8M-105.9%	$30.7M
EPS (Basic)	N/A	$0.10-28.6%	$0.14-58.8%	$0.34-20.9%	$0.43+377.8%	$0.09-71.9%	$0.32+128.6%	$0.14+7.7%	$0.13+1400.0%	-$0.01	$0.00+100.0%	-$0.37	N/A	N/A	-$0.06-105.3%	$1.14
EPS (Diluted)	-$0.41	$0.10-28.6%	$0.14-57.6%	$0.33-21.4%	$0.42+425.0%	$0.08-73.3%	$0.30+130.8%	$0.130.0%	$0.13+1400.0%	-$0.01	$0.00+100.0%	-$0.37	N/A	N/A	-$0.06-105.3%	$1.13
Diluted Shares (Avg)	N/A	35M-4.6%	37M-1.2%	38M+1.3%	37M+0.5%	37M+12.8%	33M+11.7%	29M+1.3%	29M+1.5%	28M+0.1%	28M+0.6%	28M	N/A	N/A	28,292+4.4%	27,096

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$12.3M-14.3%	$12.7M-5.5%	$11.9M+10.1%	$11.4M+9.1%	$14.3M+19.0%	$13.5M+10.7%	$10.8M-29.6%	$10.4M-33.1%
Cost of Revenue	N/A	$49.0M	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	-$36.3M	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$10.8M+76.5%	$7.6M+16.6%	$6.3M+7.7%	$6.0M+5.0%	$6.1M-3.2%	$6.5M+2.8%	$5.9M-9.5%	$5.7M-16.5%
Operating Income	-$20.9M-1036.9%	$1.0M-28.2%	$775K-47.8%	$1.3M-12.0%	$2.2M-37.0%	$1.4M-45.2%	$1.5M-67.4%	$1.5M-46.6%
EBITDA	-$20.7M-979.6%	$1.2M-22.3%	$891K-45.5%	$1.4M-12.9%	$2.4M-36.3%	$1.5M-43.6%	$1.6M-65.2%	$1.6M-43.8%
Income Tax	-$5.1M-930.0%	$271K-31.4%	$2.0M+12.5%	-$750K-284.3%	$613K-34.7%	$395K-40.8%	$1.8M+509.7%	$407K-44.7%
Net Income	-$15.9M-1070.6%	$717K-32.6%	$301K+248.3%	$585K-46.3%	$1.6M-34.4%	$1.1M-40.9%	-$203K-104.2%	$1.1M-44.9%
EPS (Basic)	-$0.46-1020.0%	$0.02-33.3%	$0.01+200.0%	$0.02-33.3%	$0.05-28.6%	$0.03-40.0%	-$0.01-107.7%	$0.03-40.0%
EPS (Diluted)	-$0.46-1020.0%	$0.02-33.3%	$0.01	$0.02-33.3%	$0.05-28.6%	$0.03-40.0%	$0.00-100.0%	$0.03-40.0%
Diluted Shares (Avg)	35M-2.5%	35M-3.0%	N/A	35M-5.3%	36M-3.6%	36M-3.5%	N/A	37M-1.2%

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.

HGBL Balance Sheet

HGBL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$88.4M+8.8%	$81.3M-2.2%	$83.2M+23.1%	$67.6M+33.9%	$50.5M+13.3%	$44.6M+103.3%	$21.9M+6.2%	$20.6M+53.4%	$13.4M-11.2%	$15.1M-19.5%	$18.8M-41.0%	$31.9M-36.3%	$50.0M-18.5%	$61.3M+30.0%	$47.1M
Current Assets	$33.6M+1.4%	$33.1M+26.0%	$26.3M+10.0%	$23.9M+2.6%	$23.3M-13.6%	$27.0M+298.1%	$6.8M-11.8%	$7.7M+154.3%	$3.0M-31.9%	$4.4M+4.0%	$4.3M-42.3%	$7.4M+0.9%	$7.3M-43.4%	$12.9M+9.4%	$11.8M
Cash & Equivalents	$20.5M-5.6%	$21.7M+77.1%	$12.3M-3.1%	$12.7M-7.0%	$13.6M-41.7%	$23.4M+757.2%	$2.7M-36.1%	$4.3M+102.4%	$2.1M-16.6%	$2.5M-8.9%	$2.8M-23.6%	$3.6M+13.1%	$3.2M-25.5%	$4.3M-35.3%	$6.7M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$5.9M+10.9%	$5.3M+5.4%	$5.1M+9.9%	$4.6M+43.4%	$3.2M+1270.2%	$235K+126.0%	$104K-95.7%	$2.4M+1314.7%	$170K-35.4%	$263K-33.4%	$395K+184.2%	$139K-76.0%	$578K-29.5%	$820K-19.1%	$1.0M
Accounts Receivable	$1.9M+19.1%	$1.6M-18.4%	$1.9M+93.3%	$988K-63.8%	$2.7M+82.6%	$1.5M-19.5%	$1.9M+364.8%	$400K+4.2%	$384K	N/A	N/A	N/A	N/A	$1.0M+43.3%	$730K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%	$7.4M+33.3%	$5.6M0.0%	$5.6M-9.3%	$6.2M0.0%	$6.2M0.0%	$6.2M0.0%	$6.2M-30.4%	$8.8M+66.9%	$5.3M0.0%	$5.3M+825.1%	$573K
Total Liabilities	$21.5M+33.2%	$16.1M-27.1%	$22.1M+14.7%	$19.3M+8.1%	$17.8M+22.0%	$14.6M+45.1%	$10.1M-22.7%	$13.0M+30.8%	$10.0M-14.5%	$11.7M-24.4%	$15.4M-16.2%	$18.4M+75.2%	$10.5M-31.4%	$15.3M+263.6%	$4.2M
Current Liabilities	$15.5M+6.4%	$14.6M-0.9%	$14.7M-9.2%	$16.2M+14.1%	$14.2M+1.7%	$14.0M+53.3%	$9.1M-10.3%	$10.2M+17.4%	$8.7M+1.1%	$8.6M-8.4%	$9.4M-18.9%	$11.5M+9.9%	$10.5M	N/A	N/A
Non-Current Liabilities	$5.9M+292.0%	$1.5M-79.5%	$7.4M+142.3%	$3.0M-15.7%	$3.6M+478.0%	$623K-33.9%	$942K-67.1%	$2.9M+120.3%	$1.3M-57.9%	$3.1M-49.1%	$6.1M-11.7%	$6.9M	$0	N/A	N/A
Long-Term Debt	N/A	N/A	$7.2M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Total Equity	$67.0M+2.7%	$65.2M+6.7%	$61.1M+26.5%	$48.3M+48.0%	$32.6M+9.0%	$29.9M+152.7%	$11.8M+55.9%	$7.6M+117.9%	$3.5M-0.2%	$3.5M+2.9%	$3.4M-74.8%	$13.5M-65.9%	$39.5M-14.2%	$46.0M+7.2%	$42.9M
Retained Earnings	-$224.3M+1.6%	-$227.8M+2.2%	-$233.0M+5.0%	-$245.3M+5.9%	-$260.8M+1.2%	-$263.8M+3.5%	-$273.5M+1.4%	-$277.4M+1.3%	-$281.1M-0.1%	-$280.9M0.0%	-$280.9M-3.9%	-$270.5M-10.9%	-$244.0M-2.7%	-$237.6M-0.8%	-$235.7M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$70.4M-19.7%	$85.0M-2.0%	$88.4M+8.8%	$86.5M-2.3%	$87.7M-2.6%	$86.7M+3.6%	$81.3M-2.2%	$88.5M+4.8%
Current Assets	$23.0M-28.4%	$23.8M-19.4%	$33.6M+1.4%	$31.8M-14.0%	$32.1M-10.6%	$29.5M+2.1%	$33.1M+26.0%	$37.0M+9.1%
Cash & Equivalents	$13.2M-33.6%	$11.6M-38.4%	$20.5M-5.6%	$19.4M-26.9%	$19.8M-19.3%	$18.8M+20.6%	$21.7M+77.1%	$26.6M+70.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$5.5M-2.8%	$5.3M+5.3%	$5.9M+10.9%	$5.6M+18.9%	$5.6M+31.3%	$5.1M+7.3%	$5.3M+5.4%	$4.7M+6.2%
Accounts Receivable	$2.5M+15.7%	$1.7M+3.8%	$1.9M+19.1%	$1.8M+109.7%	$2.2M+106.7%	$1.7M+6.7%	$1.6M-18.4%	$877K-69.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$12.7M+71.2%	$12.7M+71.2%	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%	$7.4M0.0%
Total Liabilities	$18.5M-16.0%	$17.2M-19.0%	$21.5M+33.2%	$20.0M-10.7%	$22.0M-9.1%	$21.3M+2.8%	$16.1M-27.1%	$22.4M-20.1%
Current Liabilities	$13.6M-13.4%	$12.2M-17.4%	$15.5M+6.4%	$13.9M-33.0%	$15.7M-13.1%	$14.8M+6.1%	$14.6M-0.9%	$20.7M+3.2%
Non-Current Liabilities	$4.9M-22.5%	$5.0M-22.7%	$5.9M+292.0%	$6.1M+264.4%	$6.3M+2.4%	$6.5M-3.9%	$1.5M-79.5%	$1.7M-78.9%
Long-Term Debt	$4.1M-3.2%	$4.1M-6.1%	N/A	$4.1M	$4.2M	$4.4M	N/A	N/A
Total Equity	$51.9M-21.0%	$67.8M+3.6%	$67.0M+2.7%	$66.5M+0.6%	$65.7M-0.2%	$65.4M+3.8%	$65.2M+6.7%	$66.1M+17.3%
Retained Earnings	-$239.4M-6.3%	-$223.5M+1.4%	-$224.3M+1.6%	-$224.6M+1.4%	-$225.1M+1.6%	-$226.8M+1.9%	-$227.8M+2.2%	-$227.6M+4.3%

HGBL Cash Flow Statement

HGBL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$579K	$6.1M-20.8%	$7.7M-40.5%	$13.0M+100.8%	$6.5M+346.4%	-$2.6M-128.8%	$9.1M+1052.1%	$794K-89.4%	$7.5M+532.0%	$1.2M-69.8%	$3.9M+568.7%	-$836K-134.2%	-$357K-115.8%	$2.3M+147.1%	-$4.8M-218.5%	$4.1M
Depreciation & Amortization	N/A	$472K-20.1%	$591K+15.0%	$514K-4.1%	$536K+16.5%	$460K+27.1%	$362K+18.7%	$305K-4.4%	$319K+1.9%	$313K-0.9%	$316K-45.0%	$575K+1.6%	$566K+19.9%	$472K+16.0%	$407K+20250.0%	$2K
Stock-Based Compensation	N/A	$900K-28.2%	$1.3M+61.5%	$776K+43.7%	$540K+32.4%	$408K+15.6%	$353K+24.7%	$283K-2.1%	$289K+17.5%	$246K+148.5%	$99K-72.3%	$358K-26.0%	$484K-9.0%	$532K-67.7%	$1.6M+456.4%	$296K
Capital Expenditures	$1.7M	$8.5M+6082.5%	$137K-46.7%	$257K+19.5%	$215K-84.9%	$1.4M+20257.1%	$7K-94.0%	$116K+17.2%	$99K+125.0%	$44K-55.6%	$99K+1000.0%	$9K-92.9%	$127K+1170.0%	$10K-64.3%	$28K	$0
Free Cash Flow	-$1.1M	-$2.3M-130.7%	$7.6M-40.4%	$12.8M+103.6%	$6.3M+254.5%	-$4.1M-144.4%	$9.1M+1248.2%	$678K-90.8%	$7.4M+547.7%	$1.1M-70.2%	$3.8M+552.0%	-$845K-74.6%	-$484K-121.5%	$2.3M+146.6%	-$4.8M-219.2%	$4.1M
Investing Cash Flow	-$6.1M	-$9.4M-186.4%	$10.9M+168.5%	-$15.9M-111.1%	-$7.5M+26.3%	-$10.2M-326.2%	$4.5M+490.0%	-$1.2M+59.5%	-$2.9M-6381.8%	-$44K	N/A	N/A	-$1.1M-236.5%	$773K+136.2%	-$2.1M-903.8%	-$213K
Financing Cash Flow	-$1.2M	$2.0M+122.2%	-$9.1M-471.9%	$2.5M+3053.8%	$78K-97.5%	$3.1M-56.2%	$7.0M+694.3%	-$1.2M+52.1%	-$2.5M-57.7%	-$1.6M	N/A	N/A	$1.8M+144.3%	-$4.1M-190.2%	$4.6M+1927.4%	$226K
Share Buybacks	$275K	$2.6M+19.5%	$2.2M+449.5%	$400K+1.3%	$395K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.6M-13.9%	-$2.7M-202.4%	$1.6M+128.7%	$61K-98.9%	$1.9M-69.0%	$2.6M+56.1%	-$5.5M-1335.2%	$5.5M-6.6%
Depreciation & Amortization	$240K+103.4%	$174K+47.5%	$116K-23.2%	$120K-21.1%	$118K-19.7%	$118K-16.3%	$151K+7.1%	$152K+15.2%
Stock-Based Compensation	N/A	$211K-24.6%	N/A	N/A	N/A	$280K+22.8%	N/A	N/A
Capital Expenditures	$209K+31.4%	$562K-92.4%	$609K+20200.0%	$294K+740.0%	$159K+106.5%	$7.4M+33572.7%	$3K-85.0%	$35K+105.9%
Free Cash Flow	$1.4M-18.1%	-$3.2M+32.4%	$971K+117.6%	-$233K-104.2%	$1.7M-71.2%	-$4.8M-389.7%	-$5.5M-1393.9%	$5.5M-6.9%
Investing Cash Flow	$155K-82.7%	-$5.4M+43.0%	-$471K-123.6%	-$339K-110.0%	$896K-73.6%	-$9.5M-547.2%	$2.0M+250.0%	$3.4M+151.5%
Financing Cash Flow	-$159K+90.7%	-$875K-122.4%	-$21K+98.4%	-$134K+98.1%	-$1.7M-293.8%	$3.9M+884.5%	-$1.3M+46.0%	-$6.9M-685.6%
Share Buybacks	$134K-91.5%	$141K-86.5%	$0-100.0%	$0-100.0%	$1.6M	$1.0M	$1.1M+185.0%	$1.1M

Not reported in any period shown, so not listed: Dividends Paid.

HGBL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HGBL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	27.4%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	91.5%+21.4pp	70.1%-10.4pp	80.4%+3.6pp	76.8%+7.3pp	69.6%	N/A	N/A
Operating Margin	11.2%-8.8pp	20.0%-3.7pp	23.6%-0.1pp	23.7%+12.0pp	11.7%-11.4pp	23.1%+11.5pp	11.7%-5.6pp	17.2%+15.4pp	1.8%+1.0pp	0.8%+60.2pp	-59.4%-49.9pp	-9.5%+23.5pp	-33.0%-15.7pp	-17.4%-44.0pp	26.6%
Net Margin	7.0%-4.4pp	11.4%-9.2pp	20.6%-12.4pp	33.0%+21.2pp	11.8%-25.1pp	36.9%+22.0pp	14.9%-1.0pp	15.8%+17.1pp	-1.2%-1.3pp	0.1%+59.8pp	-59.8%	-132.7%	-71.9%-59.1pp	-12.8%	178.2%
Return on Equity	5.4%-2.6pp	8.0%-12.5pp	20.4%-11.7pp	32.1%+22.7pp	9.3%-22.9pp	32.3%-0.7pp	32.9%-16.4pp	49.4%+56.5pp	-7.1%-7.5pp	0.4%+307.4pp	-307.0%-110.3pp	-196.7%-180.6pp	-16.2%-12.3pp	-3.9%-75.5pp	71.5%
Return on Assets	4.1%-2.3pp	6.4%-8.6pp	15.0%-7.9pp	22.9%+16.9pp	6.0%-15.6pp	21.7%+3.9pp	17.8%-0.4pp	18.2%+20.0pp	-1.8%-1.9pp	0.1%+55.5pp	-55.4%+27.8pp	-83.2%-70.4pp	-12.8%-9.8pp	-3.0%-68.1pp	65.1%
Current Ratio	2.16-0.1x	2.27+0.5x	1.78+0.3x	1.47-0.2x	1.64-0.3x	1.93+1.2x	0.740.0x	0.76+0.4x	0.35-0.2x	0.52+0.1x	0.46-0.2x	0.64-0.1x	0.70	N/A	N/A
Debt-to-Equity	0.32+0.1x	0.25+0.1x	0.12-0.3x	0.40-0.1x	0.55+0.1x	0.49-0.4x	0.85-0.9x	1.71-1.1x	2.86-0.5x	3.33-1.2x	4.54+3.2x	1.36+1.1x	0.27-0.1x	0.33+0.3x	0.00
Asset Turnover	0.580.0x	0.56-0.2x	0.730.0x	0.69+0.2x	0.51-0.1x	0.59-0.6x	1.190.0x	1.15-0.3x	1.50-0.1x	1.57+0.6x	0.93+0.3x	0.63+0.4x	0.18-0.1x	0.23-0.1x	0.37
FCF Margin	-4.6%-21.3pp	16.8%-4.3pp	21.1%+7.7pp	13.4%+29.1pp	-15.7%-50.6pp	34.9%+32.3pp	2.6%-28.6pp	31.1%+25.5pp	5.7%-10.4pp	16.0%+20.9pp	-4.9%-2.4pp	-2.4%-27.7pp	25.3%+59.5pp	-34.2%-57.7pp	23.5%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	N/A	-285.1%	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-170.5%	7.9%-2.5pp	6.5%-7.2pp	11.5%-2.8pp	15.6%-13.9pp	10.4%-10.6pp	13.8%-16.0pp	14.2%-3.6pp
Net Margin	-129.5%	5.6%-2.3pp	2.5%+4.4pp	5.1%-5.3pp	11.4%-9.3pp	7.9%-6.9pp	-1.9%-33.9pp	10.5%-2.2pp
Return on Equity	-30.6%-33.1pp	1.1%-0.6pp	0.4%+0.8pp	0.9%-0.8pp	2.5%-1.3pp	1.6%-1.2pp	-0.3%-8.3pp	1.7%-1.9pp
Return on Assets	-22.6%-24.4pp	0.8%-0.4pp	0.3%+0.6pp	0.7%-0.6pp	1.9%-0.9pp	1.2%-0.9pp	-0.3%-6.1pp	1.2%-1.1pp
Current Ratio	1.69-0.4x	1.950.0x	2.16-0.1x	2.29+0.5x	2.05+0.1x	2.00-0.1x	2.27+0.5x	1.78+0.1x
Debt-to-Equity	0.080.0x	0.060.0x	0.32+0.1x	0.06-0.3x	0.06-0.3x	0.07-0.3x	0.25+0.1x	0.34-0.2x
Asset Turnover	0.170.0x	0.150.0x	0.130.0x	0.130.0x	0.160.0x	0.160.0x	0.13-0.1x	0.12-0.1x
FCF Margin	11.5%-0.5pp	-25.5%+10.1pp	8.2%+59.4pp	-2.1%-54.8pp	12.0%-37.7pp	-35.6%-49.2pp	-51.2%-54.0pp	52.7%+14.8pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
HERITAGE GLOBAL INC HGBL	FY2025	$51.0M	$3.6M	7.0%	$43.6M	38/100
Siebert Financial Corp SIEB	FY2025	$94.2M	$5.1M	5.4%	$93.2M	43/100
Dominari Holdings Inc. DOMH	FY2025	$123.1M	-$22.4M	-18.2%	$52.6M	40/100
Metalpha Technology Holding Limited MATH	FY2021	$226K	-$5.1M	N/A	$49.4M	—
TOP Financial Group Limited TOP	FY2026	$4.7M	-$1.2M	-24.8%	$1.8B	18/100

Where HERITAGE GLOBAL INC Ranks

Frequently Asked Questions

What is HERITAGE GLOBAL INC's annual revenue?

HERITAGE GLOBAL INC (HGBL) reported $51.0M in total revenue for fiscal year 2025. This represents a 12.4% 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 HERITAGE GLOBAL INC's revenue growing?

HERITAGE GLOBAL INC (HGBL) revenue grew by 12.4% year-over-year, from $45.4M to $51.0M in fiscal year 2025.

Is HERITAGE GLOBAL INC profitable?

Yes, HERITAGE GLOBAL INC (HGBL) reported a net income of $3.6M in fiscal year 2025, with a net profit margin of 7.0%.

What is HERITAGE GLOBAL INC's EBITDA?

HERITAGE GLOBAL INC (HGBL) had EBITDA of $6.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is HERITAGE GLOBAL INC's gross margin?

HERITAGE GLOBAL INC (HGBL) had a gross margin of 27.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is HERITAGE GLOBAL INC's operating margin?

HERITAGE GLOBAL INC (HGBL) had an operating margin of 11.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is HERITAGE GLOBAL INC's net profit margin?

HERITAGE GLOBAL INC (HGBL) had a net profit margin of 7.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HERITAGE GLOBAL INC's return on equity (ROE)?

HERITAGE GLOBAL INC (HGBL) has a return on equity of 5.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is HERITAGE GLOBAL INC's free cash flow?

HERITAGE GLOBAL INC (HGBL) recorded an outflow of $2.3M in free cash flow during fiscal year 2025. This represents a -130.7% 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 HERITAGE GLOBAL INC's operating cash flow?

HERITAGE GLOBAL INC (HGBL) generated $6.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are HERITAGE GLOBAL INC's total assets?

HERITAGE GLOBAL INC (HGBL) had $88.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are HERITAGE GLOBAL INC's capital expenditures?

HERITAGE GLOBAL INC (HGBL) invested $8.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does HERITAGE GLOBAL INC buy back shares?

Yes, HERITAGE GLOBAL INC (HGBL) spent $2.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does HERITAGE GLOBAL INC have outstanding?

HERITAGE GLOBAL INC (HGBL) had 35M shares outstanding as of fiscal year 2025.

What is HERITAGE GLOBAL INC's current ratio?

HERITAGE GLOBAL INC (HGBL) had a current ratio of 2.16 as of fiscal year 2025, which is generally considered healthy.

What is HERITAGE GLOBAL INC's debt-to-equity ratio?

HERITAGE GLOBAL INC (HGBL) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is HERITAGE GLOBAL INC's return on assets (ROA)?

HERITAGE GLOBAL INC (HGBL) had a return on assets of 4.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is HERITAGE GLOBAL INC's P/E ratio?

HERITAGE GLOBAL INC (HGBL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $43.6M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HERITAGE GLOBAL INC's price-to-sales ratio?

HERITAGE GLOBAL INC (HGBL) trades at 0.9x sales, its market capitalization divided by revenue of $48.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $43.6M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is HERITAGE GLOBAL INC's Piotroski F-Score?

HERITAGE GLOBAL INC (HGBL) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 HERITAGE GLOBAL INC's earnings high quality?

HERITAGE GLOBAL INC (HGBL) has an earnings quality ratio of 1.71x, considered cash-backed (high quality). 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 HERITAGE GLOBAL INC?

HERITAGE GLOBAL INC (HGBL) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.