Heritage Global Operating Cycle 2011-2026 | HGBL

Annual Operating Cycle Heritage Global

2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
8.74	14.5	29.9	44	48.9	223	20.1	27.6	35.4	57.1	150	148	76.5

All numbers in USD currency

Indicator range from annual reports

Maximum	Minimum	Average
223	8.74	67.9

Quarterly Operating Cycle Heritage Global

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
16.1	12.2	10.9	-	8.44	-	-	-	17	14.7	6.28	-	12.9	19.8	27.4	-	45	42.4	24.4	-	18	22.3	36.1	-	25.6	22.9	15.7	-	7.12	5.36	6.15	-	7.4	3.66	-	-	-	-	-	-	69.8	61.9	23.6	-	3.75	22.3	70.3	-	133	299	77.1	-	46	24.9	26.7	-	31	6.4	-

All numbers in USD currency

Indicator range from quarterly reporting

Maximum	Minimum	Average
299	3.66	34.8

Operating Cycle of other stocks in the Capital markets industry

Issuer	Operating Cycle	Price	% 24h	Market Cap	Country
Westwood Holdings Group WHG	58.2	$ 17.64	3.76 %	$ 144 M	USA
Mercurity Fintech Holding MFH	416	-	2.62 %	$ 691 M	China
A-Mark Precious Metals AMRK	24.8	-	-	$ 675 M	USA
Cowen COWN	2.06	-	-	$ 1.1 B	USA
ATIF Holdings Limited ATIF	48.4	-	-7.31 %	$ 6.56 M	China
AMTD International Inc. HKIB	9.86	-	1.56 %	$ 798 M	Hong-kong
Futu Holdings Limited FUTU	0.51	$ 146.6	1.32 %	$ 162 B	China
JMP Group LLC JMP	88.4	-	0.27 %	$ 150 M	USA
Focus Financial Partners FOCS	35.4	-	-	$ 4.16 B	USA
GAMCO Investors GBL	20.7	-	-8.2 %	$ 390 M	USA
Freedom Holding Corp. FRHC	1.93	$ 130.67	2.78 %	$ 7.76 B	Kazakhstan
MarketAxess Holdings MKTX	41.6	$ 189.53	-2.11 %	$ 7.02 B	USA
Evercore EVR	46	$ 314.45	2.13 %	$ 12.2 B	USA
Houlihan Lokey HLI	34.9	$ 162.1	0.01 %	$ 10.7 B	USA
Interactive Brokers Group IBKR	5.26	$ 69.25	-0.22 %	$ 7.49 B	USA
Nomura Holdings NMR	21.3	$ 8.2	0.61 %	$ 24.2 q	Japan
Donnelley Financial Solutions DFIN	73.4	$ 53.15	2.57 %	$ 1.46 B	USA
Greenhill & Co. GHL	64.9	-	-0.13 %	$ 272 M	USA
Hudson Capital HUSN	118	-	5.06 %	$ 12 M	China
StoneX Group SNEX	2.27	$ 124.67	-0.57 %	$ 5.91 B	USA
Piper Sandler Companies PIPR	0.43	$ 304.77	1.95 %	$ 5.13 B	USA
PJT Partners PJT	108	$ 148.56	0.98 %	$ 5.84 B	USA
UP Fintech Holding Limited TIGR	140	$ 7.63	2.97 %	$ 18.3 B	China
Moelis & Company MC	1.85 K	$ 59.77	1.93 %	$ 4.64 B	USA
Oppenheimer Holdings OPY	321	$ 89.44	1.82 %	$ 926 M	USA
Stifel Financial Corp. SF	9.16	$ 75.21	0.72 %	$ 7.78 B	USA
Virtu Financial VIRT	339	$ 41.07	-1.37 %	$ 3.5 B	USA
Associated Capital Group AC	707	-	-8.02 %	$ 673 K	USA
Lazard Ltd LAZ	94.6	$ 48.56	-1.24 %	$ 4.73 B	Bermuda
Scully Royalty Ltd. SRL	0.47	$ 8.91	-1.0 %	$ 89.1 M	Canada