Heritage Global Inc. (HGBL) AI Stock Analysis

Heritage Global, Inc. operates as a specialized asset services company facilitating financial and industrial asset transactions worldwide. It provides market making, acquisitions, dispositions, valuations, and secured lending services. The firm operates both as an adviser and as a principal in transactions covering manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property, and entire business enterprises. Established in 1983 and headquartered in San Diego, California, the company was formerly known as Counsel RB Capital Inc. before rebranding in August 2013.

Revenue increased from $25.8M in FY2021 to a peak of $60.5M in FY2023, before declining to $45.4M in FY2024 and rebounding 12.4% to $51.0M in FY2025. Net income was $3.6M in FY2025, down from $15.5M in FY2022 and $12.5M in FY2023. Operating margin contracted to 11.0% in FY2025 from 23.7% in FY2023. Over the trailing twelve months, revenue totaled $48.2M with an operating margin of -22.3% and net margin of -29.6%. For the latest quarter ended June 30, 2026, quarterly revenue fell 14.3% year-over-year, while quarterly earnings declined 33.3%.

As of June 30, 2026, Heritage Global held $13.2M in cash and short-term investments alongside total debt of $5.3M, leaving net cash of $7.8M. Total assets stood at $70.4M and shareholders' equity was $51.9M. The company maintains a current ratio of 1.69 and a debt-to-equity ratio of 0.10. In FY2025, operating cash flow was $6.1M, capital expenditures were $8.5M, and free cash flow was -$2.3M. The company spent $2.6M on share buybacks in FY2025, with its share count falling 6.6% over five years.

Heritage Global trades at a forward P/E of 18.0x, above the 10.8x median of its US-listed Financial Services peers. Its EV/EBITDA of 30.7x also stands above the peer group median of 11.7x, while its price-to-sales of 0.9x is lower than the peer median of 3.2x. The enterprise value is $38.1M against a market capitalization of $45.0M. Over the past year, the stock fell 17.7%, lagging the S&P 500 return of 16.8%. Over five years, the stock dropped 32.3% compared to an 83.0% gain for the S&P 500.

Wall Street coverage consists of 3 Strong Buy ratings and 1 Buy rating, with no Hold or Sell recommendations. The mean price target is $2.62, representing a 101.9% premium over the last close of $1.30. For the fiscal year ending December 31, 2026, consensus estimates project an EPS of -$0.37 and revenue of $53.2M. For next fiscal year, 2 analysts project EPS of $0.15 on revenue of $56.5M. The company has beaten EPS estimates in 1 of the last 4 quarters, and its next earnings date is November 5, 2026.

This page is an AI-written research summary of Heritage Global Inc. (HGBL). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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