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MARKETS / NASDAQ / HGBL
NASDAQ · SERVICES-BUSINESS SERVICES, NEC · SMALL CAP

Heritage Global Inc. HGBL

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$51.0M
▲ 12.4% YoY
$3.6M
▼ 30.8% YoY
$-2.3M
▼ 130.7% YoY
In brief

What this company does

We are an asset services company specializing in financial and industrial asset transactions. We provide a full suite of services including market making, acquisitions, refurbishment, dispositions, valuations and secured lending. Our operations are organized into two divisions, Industrial Assets and Financial Assets. Through our subsidiary Heritage Global Partners, Inc. ("HGP"), we operate a global full-service auction, appraisal and asset advisory firm, including the acquisition of turnkey manufacturing facilities and used industrial machinery and equipment. HG was incorporated in Florida in 1983 under the name "MedCross, Inc." Our name was changed to "I-Link Incorporated" in 1997, to "Acceris Communications Inc." in 2003, to "C2 Global Technologies Inc." in 2005, to "Counsel RB Capital Inc." in 2011, and to Heritage Global Inc. in 2013. As of December 31, 2025, we had 84 total and full-time employees, broken down by segment as follows: 35 are employed by HGP, 18 by NLEX, 21 by ALT, 4 by HGC and 6 by HG.

Written from the business description in Heritage Global Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 51.0M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 51.0 · Net income 3.6
25.0M50.0M-10.0M-20.0M201020122014201620182020202220242025
Compound annual growth
+2.8%
+14.3%
+11.3%
+20.1%
−38.6%
−18.0%
−38.0%
−19.7%
+88.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
7 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 11.2% · Net 7.0%
50%100%150%-50%-100%201020122014201620182020202220242025
ROE
FY2025 · ROE 5.4%
50%100%-50%-100%201020122014201620182020202220242025

Each USD of equity produced 5 cents of profit this year.

Cash & shareholders
USD 2.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -2.3
5M10M-2M-4M201020122014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 2.6
1M2M20212022202320242025

USD 2.6M in buybacks — 73% of the year's profit went back to shareholders.

Total assetsUSD 88.4M
EquityUSD 67.0M
CashUSD 20.5M
Current ratio2.16×

Equity funds 76% of total assets.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.10.00.10.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B0.00.00.00.00.00.00.00.00.00.0−0.0−0.0−0.0−0.00.00.0
EBITDA $B0.00.00.00.00.00.00.00.00.00.0−0.0−0.0−0.0−0.00.00.0
Income tax $B0.00.00.0−0.0−0.0−0.0−0.00.0−0.00.00.00.00.0−0.0−0.0−0.0
Net income $B0.00.00.00.00.00.00.00.0−0.00.0−0.0−0.0−0.0−0.00.00.0
Free cash flow $B−0.00.00.00.0−0.00.00.00.00.00.0−0.00.00.0−0.00.0·
EPS, diluted $0.100.140.330.420.080.300.130.13−0.010.00−0.37−0.94−0.22−0.061.130.21
Dividend / sh $················
Payout %················
ROE %5.48.222.838.39.846.240.167.7−7.10.4−123.5−100.1−15.0−4.1117.365.8
Shares out B0.030.040.040.040.040.040.030.030.030.030.030.030.030.030.030.03

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 62 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 27 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Business Services, NEC
Listed onNASDAQ
Incorporated inFlorida
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2010

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