HGBL · Heritage Global Inc.
One customer — 78% of receivables (March 31, 2026)
“The Company's portfolio includes its largest borrower’s gross note receivable balance of approximately $21.4 million, representing 78% of our total gross notes receivable balance as of March 31, 2026, as compared to 76% as of December 31, 2025.”
One customer — 76% of receivables (December 31, 2025)
“The Company's portfolio includes its largest borrower’s gross note receivable balance of approximately $21.4 million, representing 78% of our total gross notes receivable balance as of March 31, 2026, as compared to 76% as of December 31, 2025.”
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Chart any reported metric, KPI or segment over time — the full statement history lives here
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $50.24M | $50.98M | $45.36M | $60.55M | $46.91M | $25.79M | $26.18M | $26.17M | $23.66M | $20.13M | $23.83M | $17.43M | $19.99M | $8.89M | $14.13M | $17.24M | $3.27M | — | |
| — | $37M | — | — | — | — | — | — | — | $1.71M | $7.13M | $3.41M | $4.63M | $2.71M | — | — | — | — | |
| — | $13.98M | — | — | — | — | — | — | — | $18.42M | $16.7M | $14.02M | $15.36M | $6.19M | — | — | — | — | |
| — | 27.42% | — | — | — | — | — | — | — | 91.52% | 70.08% | 80.43% | 76.83% | 69.57% | — | — | — | — | |
| $26.06M | $24.97M | $24.27M | $26.04M | $21.33M | $14.81M | $14.45M | $15.87M | $15.22M | $13.6M | $12.01M | $12.77M | $11.18M | $9.66M | $10.34M | $4.41M | $2.79M | — | |
| — | $262K | $391K | $391K | $421K | $358K | $269K | $235K | $250K | $245K | $260K | $526K | $500K | $453K | — | — | — | — | |
| $528K | $472K | $591K | $514K | $536K | $460K | $362K | $305K | $319K | $313K | $316K | $575K | $566K | $472K | $407K | $2000 | $0 | — | |
| $45.51M | $45.39M | $38.98M | $47.29M | $42.77M | $22.7M | $23.92M | $24.49M | $19.59M | $19.77M | — | $28.07M | $22.03M | $13.03M | $18.6M | $14.84M | $5.42M | — | |
| $5.32M | $5.71M | $9.07M | $14.32M | $11.12M | $3.01M | $6.06M | $3.05M | $4.08M | $364K | $190K | -$10.35M | -$1.9M | -$2.94M | -$2.45M | $4.58M | $5.43M | — | |
| — | 11.2% | 19.99% | 23.65% | 23.7% | 11.69% | 23.14% | 11.66% | 17.23% | 1.81% | 0.8% | -59.4% | -9.51% | -33.03% | -17.36% | 26.59% | 166.26% | — | |
| $5.84M | $6.18M | $9.66M | $14.83M | $11.66M | $3.47M | $6.42M | $3.36M | $4.4M | $677K | $506K | -$9.78M | -$1.33M | -$2.47M | -$2.05M | $4.59M | $5.43M | — | |
| $124K | — | — | — | — | — | — | — | — | — | $182K | $349K | $495K | — | — | — | — | — | |
| $94K | — | — | — | — | — | — | — | — | — | $119K | $69K | $108K | -$430K | -$226K | -$215K | -$564K | — | |
| $582K | $123K | $2.69M | $1.06M | $6.98M | -$79K | $3.8M | $1.37M | $0 | $47K | $49K | $291K | $404K | — | — | — | — | — | |
| $5.37M | $5.85M | $8.97M | $14M | $11.01M | $2.99M | $6.01M | $2.99M | $4.02M | -$669K | $35K | -$10.41M | -$1.79M | -$3.37M | -$2.68M | $4.37M | $4.87M | — | |
| $2.13M | $2.26M | $3.79M | $1.52M | -$4.49M | -$61K | -$3.64M | -$913K | $270K | -$420K | $21K | $15K | $24.72M | $3.03M | -$978K | -$26.32M | -$1.32M | — | |
| $3.24M | $3.59M | $5.18M | $12.48M | $15.49M | $3.05M | $9.66M | $3.9M | $3.75M | -$249K | $14K | -$10.42M | -$26.51M | -$6.4M | -$1.81M | $30.71M | $6.21M | -$1.2M | |
| — | 7.04% | 11.42% | 20.6% | 33.02% | 11.84% | 36.89% | 14.9% | 15.85% | -1.24% | 0.06% | -59.78% | -132.66% | -71.93% | -12.83% | 178.17% | 190.26% | — | |
| — | — | — | — | — | — | — | $3.9M | $3.75M | -$253K | -$3000 | -$10.44M | -$26.5M | -$6.43M | -$1.82M | $30.71M | $4.83M | — | |
| USD/shares | — | $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 | — |
| USD/shares | — | $0.10 | $0.14 | $0.33 | $0.42 | $0.08 | $0.30 | $0.13 | $0.13 | -$0.01 | $0.00 | -$0.37 | — | — | -$0.06 | $1.13 | $0.21 | — |
| shares | — | 34.83M | 36.43M | 36.68M | 36.02M | 35.46M | 30.2M | 28.66M | 28.58M | 28.47M | 28.4M | 28.25M | 28.17B | 28.61K | 28.29K | 26.83K | — | — |
| shares | — | 35.43M | 37.13M | 37.59M | 37.1M | 36.9M | 32.71M | 29.27M | 28.89M | 28.47M | 28.43M | 28.25M | 28.17B | 28.61K | 28.29K | 27.1K | — | — |
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2021–FY2025: $5.62M in buybacks.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
Peer medians compare against the 16 similar-size Capital Markets companies (of 59 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Product & Service (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Service | $33,281,000 | $32,607,000 | $39,480,000 | $23,419,000 | $19,954,000 | $21,806,000 |
| Product | $17,697,000 | $12,754,000 | $21,065,000 | $23,495,000 | $5,838,000 | $4,377,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Consolidated | $5,711,000 | $9,066,000 | $14,319,000 | $11,120,000 | $3,014,000 | — |
| Corporate And Other | -$4,965,000 | -$4,774,000 | -$4,254,000 | -$3,968,000 | -$2,436,000 | -$2,342,000 |