HGBL - Heritage Global Inc.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Revenue Growth YoY (%)	12.4% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+148%)	-25.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-602%)	29.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+481%)	81.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1538%)	-1.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-130%)	0.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-99%)	10.6% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+112%)	17.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+251%)	-15.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-407%)	36.4% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+629%)	22.9% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+357%)	59.5% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1091%)	-37.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-841%)	-18.0% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-461%)	427.8% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+8456%)	—	—
EPS Growth YoY (%)	-28.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-58.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-20.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	377.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-71.9% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	128.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	7.7% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	N/M	—	100.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—	N/M	442.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-30.8% Weak ↓ Weak Declining Year-over-year change in net income	-58.5% Weak ↓ Weak Declining Year-over-year change in net income	-19.5% Weak ↓ Weak Declining Year-over-year change in net income	407.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-68.4% Weak ↓ Weak Declining Year-over-year change in net income	147.7% Excellent Excellent Year-over-year change in net income	3.9% Caution Caution Year-over-year change in net income	N/M	N/M	N/M	60.7% Excellent ↑ Excellent Improving Year-over-year change in net income	-314.5% Weak ↓ Weak Declining Year-over-year change in net income	-252.8% Weak Weak Year-over-year change in net income	N/M	394.3% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	-40.0% Weak Weak Year-over-year change in free cash flow	100.0% Excellent Excellent Year-over-year change in free cash flow	N/M	N/M	1179.6% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-90.8% Weak Weak Year-over-year change in free cash flow	545.2% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	2.8% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	20.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	32.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	21.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	2.9% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	9.2% Fair → Fair Stable Compound annual revenue growth over 3 years	3.2% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	10.7% Good ↓ Good Declining Compound annual revenue growth over 3 years	12.4% Good ↓ Good Declining Compound annual revenue growth over 3 years	38.8% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	7.3% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	-6.3% Weak Weak Compound annual revenue growth over 3 years	39.6% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	14.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	11.6% Good ↓ Good Declining Compound annual revenue growth over 5 years	20.7% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	18.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	1.6% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	8.5% Good ↓ Good Declining Compound annual revenue growth over 5 years	13.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	21.6% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	7.3% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	6.6% Fair Fair Compound annual revenue growth over 5 years	39.8% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-38.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	15.9% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	2.0% Caution ↓ Caution Declining Compound annual EPS growth over 3 years	45.4% Excellent Excellent Compound annual EPS growth over 3 years	-11.5% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Operating Margin (%) (%)	11.2% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-7%)	20.0% Good → Good Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+67%)	23.7% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+97%)	23.7% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+98%)	11.7% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	23.1% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+93%)	11.7% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	17.2% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+44%)	1.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-85%)	0.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	-59.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-595%)	-13.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-212%)	-33.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-375%)	-17.4% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-245%)	26.6% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+122%)	—	—
Effective Tax Rate (%) (%)	38.6% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	42.2% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	10.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-40.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-60.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-30.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	62.8% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	60.0% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1379.6% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-90.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—
Profit Margin (%) (%)	7.0% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-12%)	11.4% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+43%)	20.6% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+158%)	33.0% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+313%)	11.8% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+48%)	36.9% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+361%)	14.9% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+86%)	15.9% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+98%)	-1.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-115%)	0.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-99%)	-59.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-847%)	-186.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2436%)	-71.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-999%)	-12.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-260%)	—	—	—
FCF Margin (%) (%)	-4.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	16.8% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	21.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	13.4% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	-15.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	34.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	31.1% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	5.7% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-3.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	25.3% Excellent ↓ Excellent Declining Free cash flow as a percentage of revenue Optimal: > 10%	-34.2% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	23.5% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	139.5% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.65x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.47x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	1.02x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.40x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-1.33x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.95x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.17x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.97x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-4.57x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	0.02x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.35x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.66x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.13x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.73x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Return on Invested Capital (%)	5.2% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	8.0% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	18.7% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	32.4% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	9.4% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	32.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	33.6% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	50.1% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	3.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	2.2% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-305.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-208.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-14.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-4.2% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	8.4% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	6.5% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	11.2% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	17.2% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	16.5% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	6.0% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	13.6% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	13.9% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	19.8% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	2.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-55.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-6.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-5.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-4.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	9.7% Fair Fair Operating profit relative to total assets Optimal: > 10%	32.5% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	5.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-64%)	7.9% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-47%)	20.4% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+36%)	32.1% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+114%)	9.4% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-38%)	32.3% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+115%)	32.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+119%)	49.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+229%)	-7.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-148%)	0.4% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-97%)	—	-196.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1412%)	-16.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-208%)	-3.9% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-126%)	71.5% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+377%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Debt to Equity (x)	—	—	0.12x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-83%)	—	—	—	—	—	—	—	—	0.26x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-63%)	0.10x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-86%)	—	—	—	—
Interest Coverage (x)	132.81x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	99.63x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	34.84x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	107.96x Excellent → Excellent Stable Operating income divided by interest expense Optimal: > 5x	137.00x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	140.91x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	41.22x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	16.38x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	121.33x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	1.04x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-29.67x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-3.70x Weak Weak Operating income divided by interest expense Optimal: > 5x	-7.57x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	19.96x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-20.52M	$-21.75M	$-5.05M	$-12.67M	$-13.62M	$-23.39M	$-2.73M	$-4.27M	$-2.11M	$-2.53M	$-2.78M	$-109.00K	$775.00K	$-4.31M	$-6.67M	$-2.61M	$-93.00K
Debt / EBITDA (x)	—	—	0.50x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—	—	-1.88x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-1.37x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Revenue per Share (USD)	$1.46	$1.25	$1.65	$1.30	$0.73	$0.87	$0.91	$0.83	$0.71	$0.84	$0.62	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$0.10	$0.14	$0.34	$0.43	$0.09	$0.32	$0.14	$0.13	$-0.01	$0.00	$-0.37	—	—	$-0.06	$1.14	$0.21	—
Free Cash Flow per Share (USD)	$-0.07	$0.21	$0.35	$0.17	$-0.11	$0.30	$0.02	$0.26	$0.04	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$1.93	$1.83	$1.64	$1.31	$0.89	$0.85	$0.40	$0.26	$0.12	$0.12	$0.12	$0.48	$1.40	$1.59	$1.58	—	—
Tangible Book Value per Share (USD)	$1.62	$1.52	$1.34	$0.99	$0.56	$0.60	$0.21	$0.05	$-0.09	$-0.24	$-0.25	$-0.11	$1.04	$1.41	$1.56	—	—
Basic Weighted Avg Shares (shares)	34.83M	36.43M	36.68M	36.02M	35.46M	30.20M	28.66M	28.58M	28.47M	28.40M	28.25M	—	—	28,292	26,834	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Working Capital (USD)	$18.06M	$18.53M	$11.56M	$7.67M	$9.06M	$12.96M	$-2.36M	$-2.49M	$-5.64M	$-4.14M	$-5.09M	$-3.88M	$-3.17M	—	—	—	—
LT Debt (USD)	—	—	$7.23M	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$66.98M	$65.20M	$61.08M	$48.30M	$32.64M	$29.94M	$11.85M	$7.60M	$3.49M	$3.49M	$3.39M	$13.48M	$39.50M	$46.01M	$42.94M	—	$3.95M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗
Sales/Revenue/Turnover (USD)	$50.98M	$45.36M	$60.55M	$46.91M	$25.79M	$26.18M	$26.17M	$23.66M	$20.13M	$23.78M	$17.43M	$14.19M	$8.89M	$14.13M	$17.24M	$3.27M	—
Depreciation Expense (USD)	$200.00K	$200.00K	$100.00K	$100.00K	$100.00K	$94.00K	$70.00K	$69.00K	$68.00K	$56.00K	$49.00K	$23.00K	$19.00K	$407.00K	$2.00K	$0.00	—
Net Income, GAAP (USD)	$3.59M	$5.18M	$12.47M	$15.49M	$3.05M	$9.66M	$3.90M	$3.75M	$-249.00K	$14.00K	$-10.42M	$-26.51M	$-6.40M	$-1.81M	$30.71M	$6.21M	—
Operating Cash Flow (USD)	$6.14M	$7.75M	$13.02M	$6.48M	$-2.63M	$9.15M	$794.00K	$7.47M	$1.18M	—	—	$-357.00K	$2.26M	$-4.80M	$4.05M	$4.55M	—

Heritage Global Inc.

Analytical Summary

17-Year Financial Trajectory

Health Breakdown

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Benchmark Lens

Percentile Rankings

Peer Comparison

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