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Heritage Global Financial Ratios 2025-2009 | HGBL
Brief overview of Heritage Global 's valuation and returns
This overview follows the five latest available observations from 2021 through 2025.
The latest available valuation ratios are P/E 20.49x (median 15.96x), P/B 1.1x (median 1.71x), P/CF 11.98x (median 10.68x). Current valuation broadly matches recent historical reference points; the difference from five-year medians is +12.2%.
Earnings yield calculated as 1/P/E is about 4.9%, showing current profit per unit of share price.
End-period return metrics are ROE 5.4%, ROA 4.1%, ROCE 8.5%. Business quality is below comfortable levels on current returns. Better margins or turnover are needed.
Current PEG is 0.52x; the market pays comparatively little per unit of expected growth.
For this sector, valuation ratios are useful only alongside capital adequacy, reserves and credit-portfolio quality.
Valuation takeaway
Heritage Global 's market valuation is near its own historical norm, while quality ratios provide no extreme signal.
Annual Financial Ratios Heritage Global
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
20.5 | 16.0 | 8.8 | 6.6 | 18.2 | 9.6 | 6.6 | 3.4 | -45.7 | 1358.7 | -0.7 | -0.4 | -2.7 | -15.9 | 1.2 | 1.5 | - |
P/S |
1.4 | 1.8 | 1.8 | 2.2 | 2.2 | 3.5 | 1.0 | 0.5 | 0.6 | 0.8 | 0.4 | 0.5 | 1.9 | 2.0 | 2.1 | - | - |
EPS |
0.1 | 0.1 | 0.3 | 0.4 | 0.1 | 0.3 | 0.1 | 0.1 | -0.0 | - | -0.4 | -0.9 | -0.2 | -0.1 | 1.1 | 0.2 | - |
EV (Enterprise Value) |
74.4 M | 77.1 M | 120 M | 109 M | 59.9 M | 83.5 M | 33.1 M | 21.6 M | 19.2 M | 28.1 M | 20.3 M | 24.7 M | 24.3 M | 39.6 M | 32.9 M | 13.7 M | -93 K |
EBITDA per Share |
0.18 | 0.27 | 0.4 | 0.32 | 0.1 | 0.0848 | 0.117 | 0.154 | 0.0238 | 0.0178 | -0.346 | -0.0471 | -0.0859 | -0.0739 | 0.0848 | 0.21 | - |
EV/EBITDA |
12.0 | 8.0 | 8.1 | 9.3 | 11.4 | 26.6 | 7.0 | 2.3 | 16.0 | 34.6 | -0.9 | -9.2 | -7.3 | -16.8 | 13.2 | 2.5 | - |
PEG |
0.52 | 0.39 | 0.21 | 0.04 | 0.17 | 0.07 | 2.54 | -0.0 | 0.02 | -13.57 | 0.01 | -0.0 | -0.01 | 0.15 | 0.0 | - | - |
P/B |
1.1 | 1.3 | 1.8 | 2.1 | 1.7 | 3.1 | 2.2 | 1.7 | 3.3 | 5.4 | 2.3 | 0.7 | 0.4 | 0.6 | 0.8 | 1.0 | - |
P/CF |
12.0 | 10.7 | 8.5 | 15.7 | -21.2 | 10.1 | 38.0 | 1.7 | 10.0 | 5.0 | -9.0 | 20.0 | 7.5 | -5.9 | 8.7 | 2.0 | - |
ROE % |
5.36 | 7.95 | 20.42 | 32.08 | 9.35 | 32.25 | 32.91 | 49.36 | -7.14 | 0.40 | -307.04 | -196.74 | -16.20 | -3.91 | 71.50 | 65.77 | - |
ROA % |
4.06 | 6.37 | 15.00 | 22.93 | 6.05 | 21.68 | 17.79 | 18.18 | -1.85 | 0.09 | -55.42 | -83.19 | -12.80 | -2.94 | 65.11 | 37.24 | - |
ROCE % |
8.53 | 13.90 | 23.44 | 23.02 | 9.23 | 7.40 | 23.78 | 38.99 | 7.61 | 2.89 | -109.61 | -9.34 | -7.34 | -5.43 | 5.59 | 57.47 | - |
Current Ratio |
4.1 | 5.0 | 3.8 | 3.5 | 2.8 | 1.9 | 0.7 | 0.8 | 0.3 | 0.5 | 0.5 | 0.6 | 0.7 | 0.8 | 2.8 | 2.3 | - |
DSO |
12.2 | 14.0 | 8.7 | 14.5 | 29.9 | 39.5 | 44.0 | 6.2 | 7.0 | 19.1 | 13.4 | 52.2 | 68.5 | 105.4 | 32.0 | - | - |
DIO |
55.6 | - | - | - | - | 4.5 | 4.9 | 216.9 | 13.2 | 8.5 | 22.1 | 4.9 | 81.4 | 42.2 | 44.4 | - | - |
DPO |
- | - | - | - | - | 258.3 | 382.5 | 730.5 | 388.7 | 217.6 | 372.6 | 0.3 | 593.8 | 140.3 | 0.0 | - | - |
Operating Cycle |
67.9 | 14.0 | 8.7 | 14.5 | 29.9 | 44.0 | 48.9 | 223.0 | 20.1 | 27.6 | 35.4 | 57.1 | 149.9 | 147.5 | 76.5 | - | - |
Cash Conversion Cycle |
67.9 | 14.0 | 8.7 | 14.5 | 29.9 | -214.4 | -333.6 | -507.4 | -368.6 | -189.9 | -337.2 | 56.9 | -443.9 | 7.2 | 76.4 | - | - |
All numbers in USD currency
Quarterly Financial Ratios Heritage Global
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
0.02 | 0.02 | 0.05 | 0.03 | - | 0.03 | 0.07 | 0.05 | - | 0.05 | 0.08 | 0.08 | - | 0.06 | 0.07 | 0.02 | - | 0.01 | 0.02 | 0.03 | - | 0.04 | 0.07 | - | - | 0.04 | 0.05 | 0.02 | - | 0.01 | 0.06 | 0.05 | - | - | -0.01 | 0.01 | - | -0.01 | 0.02 | - | - | -0.13 | -0.02 | -0.02 | - | -0.01 | -0.02 | -0.91 | - | -0.01 | -0.03 | -0.02 | - | -0.03 | -0.01 | 0.01 | - | 0.03 | 0.13 | 0.01 |
EBITDA per Share |
0.03 | 0.04 | 0.07 | 0.04 | - | 0.04 | 0.1 | 0.07 | - | 0.08 | 0.09 | 0.11 | - | 0.1 | 0.1 | 0.03 | - | 0.02 | - | 0.03 | - | 0.06 | 0.04 | 0.01 | - | 0.05 | 0.06 | 0.03 | - | 0.02 | 0.06 | 0.05 | - | 0.01 | - | 0.02 | - | -0.01 | -0.01 | 0.01 | - | -0.12 | -0.02 | -0.01 | - | -0.75 | -12.4 | -23.4 | - | 12.4 | -34.1 | -0.03 | - | -55 | -11.6 | 0.03 | - | 19.1 | 0.17 | -0.01 |
ROE % |
6.06 | 6.64 | 9.56 | 9.92 | 8.30 | 11.80 | 15.28 | 17.00 | 14.15 | 20.16 | 23.82 | 20.63 | 15.11 | 16.61 | 12.49 | 8.67 | 6.73 | 10.95 | 12.90 | 11.13 | 7.79 | 18.06 | 26.45 | 28.17 | 28.04 | 32.90 | 44.80 | 49.15 | 43.99 | 46.37 | 35.81 | 20.95 | 3.99 | -6.63 | 8.85 | 16.27 | 8.96 | -98.20 | -108.00 | -143.16 | -144.87 | -146.27 | -43.44 | -212.76 | -195.47 | -196.12 | -196.61 | -193.92 | -4.18 | -6.35 | -6.61 | -3.88 | -2.24 | 6.00 | 8.61 | 0.85 | - | - | 8.24 | 0.44 |
ROA % |
4.61 | 5.00 | 7.10 | 7.57 | 6.35 | 9.82 | 12.34 | 9.56 | 9.56 | 13.75 | 16.22 | 13.98 | 10.24 | 11.28 | 8.48 | 6.30 | 5.06 | 7.90 | 9.17 | 7.89 | 5.24 | 10.79 | 14.77 | 15.24 | 15.16 | 16.95 | 19.56 | 19.00 | 16.20 | 16.82 | 13.55 | 7.28 | 1.03 | -1.42 | 2.09 | 3.96 | 2.07 | -17.28 | -18.51 | -25.76 | -26.15 | -26.74 | -9.23 | -85.78 | -82.66 | -83.18 | -84.07 | -83.54 | -3.30 | -4.93 | -5.10 | -2.98 | -1.68 | 5.82 | 7.85 | 0.64 | - | - | 7.50 | 0.40 |
ROCE % |
8.99 | 9.73 | 13.16 | 13.82 | 11.68 | 16.59 | 20.07 | 22.29 | 18.23 | 27.30 | 32.47 | 29.37 | 21.77 | 23.46 | 14.62 | 7.93 | 5.31 | 10.69 | 12.42 | 12.50 | 9.12 | 19.81 | 27.68 | 29.82 | 29.51 | 34.98 | 45.74 | 50.97 | 45.41 | 54.47 | 49.77 | 39.62 | 21.13 | 9.62 | -6.13 | -1.41 | -12.71 | -114.92 | -123.15 | -129.18 | -134.68 | -135.72 | -36.99 | -23.01 | -10.28 | -9.69 | -11.46 | -10.27 | -4.50 | -7.92 | -9.23 | -4.69 | -2.40 | -1.20 | 12.75 | 12.68 | 10.94 | 1.20 | 10.53 | -0.79 |
Current Ratio |
4.9 | 4.3 | 4.0 | 4.1 | 5.0 | 4.0 | 3.7 | - | 3.8 | 3.0 | 3.1 | 3.1 | 3.5 | 3.3 | 3.0 | 2.8 | 2.8 | 3.3 | 3.6 | 4.8 | 3.0 | 3.0 | 3.0 | 3.0 | 2.2 | 2.2 | 2.2 | 2.2 | 1.6 | 1.6 | 1.6 | 1.6 | 1.4 | 1.4 | 1.4 | 1.4 | 1.3 | 1.3 | 1.3 | 1.3 | 1.2 | 1.2 | 1.2 | 1.2 | 1.7 | 1.7 | 1.7 | 1.7 | 4.8 | 4.8 | 4.8 | 4.8 | 4.0 | 4.0 | 4.0 | 4.0 | 11.2 | 11.2 | 11.2 | 11.2 |
DSO |
12.8 | 16.1 | 12.2 | 10.9 | - | 8.4 | 4.0 | 7.2 | - | 17.0 | 14.7 | 6.3 | - | 12.9 | 19.8 | 27.4 | - | 45.0 | 42.4 | 24.4 | - | 18.0 | 22.3 | 36.1 | - | 25.6 | 22.9 | 15.7 | - | 7.1 | 5.4 | 6.2 | - | 7.4 | 3.7 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 68.8 | 65.2 | 77.1 | - | 46.0 | 24.9 | 26.7 | - | 31.0 | 6.4 | - |
DIO |
10.2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 69.8 | 61.9 | 23.6 | - | 3.8 | 22.3 | 70.3 | - | 64.4 | 233.4 | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | 16.1 | 12.2 | 10.9 | - | 8.4 | - | - | - | 17.0 | 14.7 | 6.3 | - | 12.9 | 19.8 | 27.4 | - | 45.0 | 42.4 | 24.4 | - | 18.0 | 22.3 | 36.1 | - | 25.6 | 22.9 | 15.7 | - | 7.1 | 5.4 | 6.2 | - | 7.4 | 3.7 | - | - | - | - | - | - | 69.8 | 61.9 | 23.6 | - | 3.8 | 22.3 | 70.3 | - | 133.2 | 298.6 | 77.1 | - | 46.0 | 24.9 | 26.7 | - | 31.0 | 6.4 | - |
Cash Conversion Cycle |
- | 16.1 | 12.2 | 10.9 | - | 8.4 | - | - | - | 17.0 | 14.7 | 6.3 | - | 12.9 | 19.8 | 27.4 | - | 45.0 | 42.4 | 24.4 | - | 18.0 | 22.3 | 36.1 | - | 25.6 | 22.9 | 15.7 | - | 7.1 | 5.4 | 6.2 | - | 7.4 | 3.7 | - | - | - | - | - | - | 69.8 | 61.9 | 23.6 | - | 3.8 | 22.3 | 70.3 | - | 133.2 | 298.6 | 77.1 | - | 46.0 | 24.9 | 26.7 | - | 31.0 | 6.4 | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company Heritage Global , allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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