Heritage Global Past Earnings Performance
Past criteria checks 1/6
Heritage Global's earnings have been declining at an average annual rate of -6.7%, while the Capital Markets industry saw earnings growing at 4.1% annually. Revenues have been growing at an average rate of 13.5% per year. Heritage Global's return on equity is 5.4%, and it has net margins of 7%.
Key information
-6.71%
Earnings growth rate
-8.95%
EPS growth rate
| Capital Markets Industry Growth | 10.26% |
| Revenue growth rate | 13.46% |
| Return on equity | 5.36% |
| Net Margin | 7.04% |
| Next Earnings Update | 07 May 2026 |
Recent past performance updates
Recent updates
HGBL: Cash Generation And Buyback Authorization Will Drive Future Repricing
Analysts have raised their price target on Heritage Global by $0.50 to $4.50, citing what they see as a "no expectations" valuation relative to a profitable, cash-generative business with $12.1m in cash after the recent acquisition and a $7.5m buyback authorization. Analyst Commentary Recent commentary centers on Heritage Global's current share price relative to its cash position, profitability, and the newly authorized buyback.HGBL: Cash Generative Profile And Buyback Authorization Will Support Repricing
Analysts have nudged their price target on Heritage Global up by $0.50 to $4.50, pointing to what they see as a profitable, cash-generative business trading on what they describe as a "no expectations" valuation, supported by $12.1m in cash after the recent acquisition and a $7.5m buyback authorization. Analyst Commentary Recent research paints a generally constructive picture of Heritage Global, with the price target lifted to US$4.50 and framed around what bullish analysts describe as a "no expectations" valuation, backed by a profitable, cash-generative profile and a supported balance sheet.
HGBL: Cash Reserves And Buyback Authorization Will Support Bullish Repricing
Analysts have raised their price target on Heritage Global to $4.50 from $4.00, citing what they describe as a "no expectations" valuation for a profitable, cash-generative business with $12.1m in cash following the recent acquisition and a $7.5m buyback authorization. Analyst Commentary Recent coverage has framed Heritage Global as a profitable, cash-generative company with US$12.1m in cash following a recent acquisition and a US$7.5m buyback authorization.
HGBL: Court-Appointed Apparel Auction Will Support Higher Future Earnings Quality
Analysts have kept their $4.00 price target on Heritage Global unchanged, citing updated assumptions that now reflect slightly different discount rate, revenue growth, profit margin, and P/E inputs, while maintaining their overall valuation view. Valuation Changes Fair Value: $4.00 unchanged, with no revision to the overall valuation outcome.HGBL: Court-Appointed Apparel Auction Will Support Stronger Future Profit Margins
Analysts have nudged their price target on Heritage Global to $4.00, with updated assumptions reflecting slightly different views on discount rate, revenue growth, profit margin, and future P/E, while keeping their overall fair value assessment unchanged at $4.00. Valuation Changes Fair Value: Held steady at $4.00, with no change in the overall valuation outcome.HGBL: Court-Appointed Apparel Auction Will Drive Stronger Future Profit Margins
Analysts have adjusted their price target on Heritage Global to $4.00. The update is primarily linked to refreshed assumptions around the discount rate, revenue growth, profit margin and future P/E, which they view as better aligned with the company’s current risk and earnings profile.HGBL: Court-Appointed Apparel Auction Will Support Higher Future Profitability
Analysts have modestly revised their price target on Heritage Global to US$4.00. This reflects small adjustments to their models related to the discount rate, revenue growth, profit margin, and future P/E assumptions.HGBL: Court-Appointed Apparel Auction Will Support Future Margin Expansion
Analysts have kept their price target for Heritage Global steady at US$4.00, citing small adjustments in the discount rate, revenue growth outlook, profit margin assumptions and future P/E as the reasons for reaffirming their view. What's in the News Heritage Global Partners has been appointed by the U.S. Bankruptcy Court for the District of Delaware to run an auction of over US$4 million in brand new and returned Seraphine USA Inc.HGBL: New Auction Mandate Will Drive Future Margin Expansion
Analysts have modestly raised their price target on Heritage Global from 4.00 dollars to 4.10 dollars, reflecting slightly stronger expectations for revenue growth, profit margins, and earnings multiples under a marginally lower discount rate. What's in the News Heritage Global Partners was appointed by the U.S. Bankruptcy Court for the District of Delaware to auction over 4 million dollars of brand new and returned inventory from Seraphine USA Inc., a premium maternity apparel brand with strong international recognition (Key Developments).HGBL: Margin Expansion And New Auction Mandate Will Drive Future Upside
Analysts have modestly trimmed their price target on Heritage Global to reflect slightly slower projected revenue growth and a higher discount rate, partially offset by expectations for improved profit margins and a lower future valuation multiple. What's in the News Heritage Global Partners was appointed by the U.S. Bankruptcy Court in Delaware to conduct an auction of more than $4 million in brand new and returned inventory from Seraphine USA Inc., a well known international maternity apparel brand (Key Developments) The Seraphine inventory spans multiple premium product categories, including underwear and hosiery, activewear and leisurewear, dresses and tops, pants and jumpsuits, sweaters and cardigans, coats and jackets, skirts and shorts, accessories and more, all stored in a U.S. distribution center for rapid release after the sale (Key Developments) The company reported no share repurchases between July 31, 2025 and September 30, 2025, completing its latest buyback tranche with zero shares and zero dollars deployed under the program announced on August 7, 2025 (Key Developments) Valuation Changes Fair value estimate reduced slightly from 4.5 to 4.0, reflecting a modestly lower intrinsic valuation.Heritage Global Inc.'s (NASDAQ:HGBL) Shares Not Telling The Full Story
Nov 26
Improved Earnings Required Before Heritage Global Inc. (NASDAQ:HGBL) Stock's 30% Jump Looks Justified
Jan 29Heritage Global Inc. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Nov 10
Expanding Market Footprint And Client Base Promise Growth Amid Shrinking Margins And Integration Risks
Expansion in customer base and business volume across Financial and Industrial Assets divisions hints at potential revenue growth.Earnings Working Against Heritage Global Inc.'s (NASDAQ:HGBL) Share Price Following 26% Dive
Aug 14Is Now The Time To Put Heritage Global (NASDAQ:HGBL) On Your Watchlist?
Aug 13Analysts Just Shipped A Notable Upgrade To Their Heritage Global Inc. (NASDAQ:HGBL) Estimates
Nov 17Heritage Global anticipates significant net operating growth in 2Q22
Jul 11Heritage Global: The Earnings Rose Is About To Bloom But Beware The Thorns
Mar 31Executive Compensation Excesses At Heritage Global
Feb 17Heritage Global: Strategic Acquisition And Insiders Buying
Sep 08Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Heritage Global makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 51 | 4 | 25 | 0 |
| 30 Sep 25 | 50 | 3 | 25 | 0 |
| 30 Jun 25 | 49 | 4 | 24 | 0 |
| 31 Mar 25 | 47 | 4 | 24 | 0 |
| 31 Dec 24 | 45 | 5 | 24 | 0 |
| 30 Sep 24 | 50 | 10 | 25 | 0 |
| 30 Jun 24 | 55 | 11 | 26 | 0 |
| 31 Mar 24 | 56 | 11 | 26 | 0 |
| 31 Dec 23 | 61 | 12 | 26 | 0 |
| 30 Sep 23 | 59 | 18 | 26 | 0 |
| 30 Jun 23 | 56 | 18 | 25 | 0 |
| 31 Mar 23 | 54 | 18 | 23 | 0 |
| 31 Dec 22 | 47 | 15 | 21 | 0 |
| 30 Sep 22 | 41 | 6 | 19 | 0 |
| 30 Jun 22 | 34 | 5 | 17 | 0 |
| 31 Mar 22 | 28 | 3 | 16 | 0 |
| 31 Dec 21 | 26 | 3 | 15 | 0 |
| 30 Sep 21 | 27 | 8 | 15 | 0 |
| 30 Jun 21 | 28 | 9 | 15 | 0 |
| 31 Mar 21 | 29 | 11 | 15 | 0 |
| 31 Dec 20 | 26 | 10 | 14 | 0 |
| 30 Sep 20 | 23 | 4 | 15 | 0 |
| 30 Jun 20 | 23 | 4 | 15 | 0 |
| 31 Mar 20 | 24 | 3 | 15 | 0 |
| 31 Dec 19 | 26 | 4 | 16 | 0 |
| 30 Sep 19 | 27 | 4 | 15 | 0 |
| 30 Jun 19 | 25 | 3 | 15 | 0 |
| 31 Mar 19 | 24 | 3 | 16 | 0 |
| 31 Dec 18 | 24 | 4 | 15 | 0 |
| 30 Sep 18 | 23 | 3 | 15 | 0 |
| 30 Jun 18 | 23 | 3 | 15 | 0 |
| 31 Mar 18 | 21 | 1 | 14 | 0 |
| 31 Dec 17 | 20 | 0 | 14 | 0 |
| 30 Sep 17 | 20 | 0 | 13 | 0 |
| 30 Jun 17 | 24 | -1 | 12 | 0 |
| 31 Mar 17 | 23 | 0 | 12 | 0 |
| 31 Dec 16 | 24 | 0 | 12 | 0 |
| 30 Sep 16 | 23 | -5 | 13 | 0 |
| 30 Jun 16 | 19 | -8 | 13 | 0 |
| 31 Mar 16 | 18 | -10 | 13 | 0 |
| 31 Dec 15 | 17 | -10 | 13 | 0 |
| 30 Sep 15 | 21 | -5 | 13 | 0 |
| 30 Jun 15 | 23 | -2 | 12 | 0 |
Quality Earnings: HGBL has high quality earnings.
Growing Profit Margin: HGBL's current net profit margins (7%) are lower than last year (11.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: HGBL's earnings have declined by 6.7% per year over the past 5 years.
Accelerating Growth: HGBL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HGBL had negative earnings growth (-30.8%) over the past year, making it difficult to compare to the Capital Markets industry average (20.4%).
Return on Equity
High ROE: HGBL's Return on Equity (5.4%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/03 05:46 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Heritage Global Inc. is covered by 6 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Michael Shlisky | Colliers Securities |
| George Sutton | Craig-Hallum Capital Group LLC |
| Mikhail Paramonov | Freedom Broker |