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Stocks · Industrials · Services-Business Services, NEC

Heritage Global Inc.

HGBL Clue Score63
United States Fiscal year ends December CIK 0000849145
$1.25 -2.34% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $1.25 −34.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 17 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue23.8Operating income0.2Net income0.0EPS, diluted0.00Fiscal year 2017Revenue20.1 −15.5%Operating income0.4Net income−0.2 −1,878.6%EPS, diluted−0.01Fiscal year 2018Revenue23.7 +17.6%Operating income4.1Net income3.8EPS, diluted0.13Fiscal year 2019Revenue26.2 +10.6%Operating income3.1Net income3.9 +3.9%EPS, diluted0.13 +0.0%Fiscal year 2020Revenue26.2 +0.1%Operating income6.1Net income9.7 +147.7%EPS, diluted0.30 +130.8%Fiscal year 2021Revenue25.8 −1.5%Operating income3.0Net income3.1 −68.4%EPS, diluted0.08 −73.3%Fiscal year 2022Revenue46.9 +81.9%Operating income11.1Net income15.5 +407.5%EPS, diluted0.42 +425.0%Fiscal year 2023Revenue60.5 +29.1%Operating income14.3Net income12.5 −19.5%EPS, diluted0.33 −21.4%Fiscal year 2024Revenue45.4 −25.1%Operating income9.1Net income5.2 −58.5%EPS, diluted0.14 −57.6%Fiscal year 2025Revenue51.0 +12.4%Operating income5.7Net income3.6 −30.8%EPS, diluted0.10 −28.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 23.8 20.1 23.7 26.2 26.2 25.8 46.9 60.5 45.4 51.0
Growth −15.5% +17.6% +10.6% +0.1% −1.5% +81.9% +29.1% −25.1% +12.4%
Operating income 0.2 0.4 4.1 3.1 6.1 3.0 11.1 14.3 9.1 5.7
Net income 0.0 −0.2 3.8 3.9 9.7 3.1 15.5 12.5 5.2 3.6
Growth −1,878.6% +3.9% +147.7% −68.4% +407.5% −19.5% −58.5% −30.8%
EPS, diluted 0.00 −0.01 0.13 0.13 0.30 0.08 0.42 0.33 0.14 0.10
Growth +0.0% +130.8% −73.3% +425.0% −21.4% −57.6% −28.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin0.8%Net margin0.1%Free cash flow margin16.0%Fiscal year 2017Operating margin1.8%Net margin−1.2%Free cash flow margin5.7%Fiscal year 2018Operating margin17.2%Net margin15.9%Free cash flow margin31.1%Fiscal year 2019Operating margin11.7%Net margin14.9%Free cash flow margin2.6%Fiscal year 2020Operating margin23.1%Net margin36.9%Free cash flow margin34.9%Fiscal year 2021Operating margin11.7%Net margin11.8%Free cash flow margin−15.7%Fiscal year 2022Operating margin23.7%Net margin33.0%Free cash flow margin13.4%Fiscal year 2023Operating margin23.7%Net margin20.6%Free cash flow margin21.1%Fiscal year 2024Operating margin20.0%Net margin11.4%Free cash flow margin16.8%Fiscal year 2025Operating margin11.2%Net margin7.0%Free cash flow margin−4.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 0.8% 1.8% 17.2% 11.7% 23.1% 11.7% 23.7% 23.7% 20.0% 11.2%
Net margin 0.1% −1.2% 15.9% 14.9% 36.9% 11.8% 33.0% 20.6% 11.4% 7.0%
Free cash flow margin 16.0% 5.7% 31.1% 2.6% 34.9% −15.7% 13.4% 21.1% 16.8% −4.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow3.9Capital expenditure−0.1Free cash flow3.8Fiscal year 2017Operating cash flow1.2Capital expenditure−0.0Free cash flow1.1 −70.2%Fiscal year 2018Operating cash flow7.5Capital expenditure−0.1Free cash flow7.4 +547.7%Fiscal year 2019Operating cash flow0.8Capital expenditure−0.1Free cash flow0.7 −90.8%Fiscal year 2020Operating cash flow9.1Capital expenditure−0.0Free cash flow9.1 +1,248.2%Fiscal year 2021Operating cash flow−2.6Capital expenditure−1.4Free cash flow−4.1 −144.4%Buybacks0.0Fiscal year 2022Operating cash flow6.5Capital expenditure−0.2Free cash flow6.3Buybacks−0.4Fiscal year 2023Operating cash flow13.0Capital expenditure−0.3Free cash flow12.8 +103.6%Buybacks−0.4Fiscal year 2024Operating cash flow7.7Capital expenditure−0.1Free cash flow7.6 −40.4%Buybacks−2.2Fiscal year 2025Operating cash flow6.1Capital expenditure−8.5Free cash flow−2.3 −130.7%Buybacks−2.6
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 3.9 1.2 7.5 0.8 9.1 −2.6 6.5 13.0 7.7 6.1
Capital expenditure −0.1 −0.0 −0.1 −0.1 −0.0 −1.4 −0.2 −0.3 −0.1 −8.5
Free cash flow 3.8 1.1 7.4 0.7 9.1 −4.1 6.3 12.8 7.6 −2.3
Growth −70.2% +547.7% −90.8% +1,248.2% −144.4% +103.6% −40.4% −130.7%
Buybacks n/a n/a n/a n/a n/a 0.0 −0.4 −0.4 −2.2 −2.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash2.5Shareholders’ equity3.5Fiscal year 2017Cash2.1Shareholders’ equity3.5Fiscal year 2018Cash4.3Shareholders’ equity7.6Fiscal year 2019Cash2.7Shareholders’ equity11.8Fiscal year 2020Cash23.4Shareholders’ equity29.9Fiscal year 2021Cash13.6Shareholders’ equity32.6Fiscal year 2022Cash12.7Shareholders’ equity48.3Fiscal year 2023Cash12.3Total debt7.2Net cash (debt)5.1Shareholders’ equity61.1Debt to equity0.12Fiscal year 2024Cash21.7Shareholders’ equity65.2Fiscal year 2025Cash20.5Shareholders’ equity67.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 2.5 2.1 4.3 2.7 23.4 13.6 12.7 12.3 21.7 20.5
Total debt n/a n/a n/a n/a n/a n/a n/a 7.2 n/a n/a
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a 5.1 n/a n/a
Shareholders’ equity 3.5 3.5 7.6 11.8 29.9 32.6 48.3 61.1 65.2 67.0
Debt to equity n/a n/a n/a n/a n/a n/a n/a 0.12 n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
3.9 1.2 7.5 0.8 9.1 −2.6 6.5 13.0 7.7 6.1
Growth −69.8% +532.0% −89.4% +1,052.1% −128.8% +100.8% −40.5% −20.8%
Investment
−0.1 −0.0 −0.1 −0.1 −0.0 −1.4 −0.2 −0.3 −0.1 −8.5
calc 3.8 1.1 7.4 0.7 9.1 −4.1 6.3 12.8 7.6 −2.3
Growth −70.2% +547.7% −90.8% +1,248.2% −144.4% +103.6% −40.4% −130.7%
calc 0.13 0.04 0.26 0.02 0.28 −0.11 0.17 0.34 0.20 −0.07
n/a −0.0 −2.9 −1.2 4.5 −10.2 −7.5 −15.9 10.9 −9.4
Financing
n/a −1.6 −2.5 −1.2 7.0 3.1 0.1 2.5 −9.1 2.0
n/a n/a n/a n/a n/a 0.0 −0.4 −0.4 −2.2 −2.6

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.