Heritage Global EBITDA 2011-2025 | HGBL

Earnings before Interest, Taxes, Depreciation, and Amortization (EBITDA), is an often used measure of a company's profitability. Financial analysts use EBITDA for a number of purposes including calculating simple valuations of a firm, estimating cash flows, and assessing debt servicing capability. The uses for EBITDA in financial analysis are numerous, but in practice should be more restrained. While EBITDA has some useful applications, it should be used with caution, as the problems with EBITDA are abundant and can lead to a number of misguided conclusions.^[1]

EBITDA is an important indicator for investors and analysts because it allows them to evaluate a company's operating profit without considering the impact of financial expenses, taxes, or non-cash depreciation and amortization. It provides better comparability between companies in different industries or with different tax conditions.

EBITDA is often used to assess a company's ability to generate cash flow and repay debts. It can also serve as a measure of a company's operational efficiency, as it shows how profitable the core business is, regardless of external factors such as interest or taxes.

However, it is important to note that EBITDA is not an official financial statement measure and can be defined and calculated differently by companies. Therefore, investors and analysts should exercise caution when using EBITDA as an evaluation tool and combine it with other financial metrics and information to get a more complete picture of a company's financial condition.

Annual EBITDA Heritage Global

2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
14.8 M	11.7 M	3.47 M	2.62 M	3.36 M	4.4 M	677 K	506 K	-9.78 M	-1.33 M	-2.43 M	-2.09 M	2.4 M

All numbers in USD currency

Indicator range from annual reports

Maximum	Minimum	Average
14.8 M	-9.78 M	2.18 M

Quarterly EBITDA 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
1.42 M	2.35 M	1.52 M	-	1.63 M	3.69 M	2.7 M	-	2.9 M	3.22 M	4.01 M	-	3.61 M	3.76 M	1.01 M	-	638 K	171 K	1.14 M	-	1.7 M	1.11 M	184 K	-	1.34 M	1.65 M	735 K	-	495 K	1.71 M	1.49 M	-	394 K	104 K	471 K	-	-326 K	-153 K	275 K	-	-3.3 M	-505 K	-273 K	-	-21 K	-349 K	-659 K	-	352 K	-988 K	-784 K	-	-1.57 M	-325 K	802 K	-	516 K	4.52 M	-340 K

All numbers in USD currency

Indicator range from quarterly reporting

Maximum	Minimum	Average
4.52 M	-3.3 M	934 K

References

Brockman, C. M., & Russell, J. W. (2012). EBITDA: use it... or lose it?. International Journal of Business, Accounting and Finance, 6(2), 84-93.

EBITDA of other stocks in the Capital markets industry

Issuer	EBITDA	Price	% 24h	Market Cap	Country
Mercurity Fintech Holding MFH	-13.3 M	-	2.62 %	$ 691 M	China
Associated Capital Group AC	-16.6 M	-	-8.02 %	$ 673 K	USA
A-Mark Precious Metals AMRK	11.4 M	-	-	$ 675 M	USA
ATIF Holdings Limited ATIF	-1.85 M	-	-7.31 %	$ 6.56 M	China
BGC Partners BGCP	81.4 M	-	1.37 %	$ 1.69 B	USA
Futu Holdings Limited FUTU	6.69 B	$ 169.13	-1.35 %	$ 187 B	China
AMTD International Inc. HKIB	927 M	-	1.56 %	$ 798 M	Hong-kong
China Finance Online Co. Limited JRJC	-10 M	-	-1.71 %	$ 15.5 M	China
National Holdings Corporation NHLD	-5.66 B	-	-	$ 44.7 M	USA
The Goldman Sachs Group GS	2.39 B	$ 903.77	1.81 %	$ 297 B	USA
Focus Financial Partners FOCS	556 M	-	-	$ 4.16 B	USA
Freedom Holding Corp. FRHC	12.1 M	$ 137.04	0.2 %	$ 8.14 B	Kazakhstan
Interactive Brokers Group IBKR	67 M	$ 63.91	-0.37 %	$ 6.91 B	USA
Hudson Capital HUSN	-6.06 M	-	5.06 %	$ 12 M	China
Donnelley Financial Solutions DFIN	197 M	$ 46.1	0.55 %	$ 1.35 B	USA
Evercore EVR	24.5 M	$ 340.05	0.96 %	$ 13 B	USA
LPL Financial Holdings LPLA	308 M	$ 381.93	0.25 %	$ 28.5 B	USA
MarketAxess Holdings MKTX	415 M	$ 178.68	-0.18 %	$ 6.72 B	USA
Moelis & Company MC	224 M	$ 70.78	1.51 %	$ 5.52 B	USA
Cowen COWN	27.7 M	-	-	$ 1.1 B	USA
Nomura Holdings NMR	63.8 B	$ 8.39	1.21 %	$ 24.8 q	Japan
Morgan Stanley MS	5.16 B	$ 180.29	1.04 %	$ 287 B	USA
GAMCO Investors GBL	119 M	-	-8.2 %	$ 390 M	USA
Greenhill & Co. GHL	24.9 M	-	-0.13 %	$ 272 M	USA
Houlihan Lokey HLI	543 M	$ 179.47	0.18 %	$ 11.8 B	USA
Oppenheimer Holdings OPY	117 M	$ 73.08	-0.42 %	$ 756 M	USA
Stifel Financial Corp. SF	991 M	$ 130.13	0.23 %	$ 13.5 B	USA
StoneX Group SNEX	67.5 M	$ 97.78	0.36 %	$ 4.64 B	USA
Piper Sandler Companies PIPR	16.8 M	$ 357.14	0.25 %	$ 5.73 B	USA
PJT Partners PJT	15.5 M	$ 170.94	1.1 %	$ 6.79 B	USA
Scully Royalty Ltd. SRL	3.39 M	$ 6.36	-	$ 89.1 M	Canada
Lazard Ltd LAZ	423 M	$ 51.25	0.97 %	$ 4.77 B	Bermuda
Tradeweb Markets TW	898 M	$ 107.3	0.12 %	$ 22.9 B	USA
Raymond James Financial RJF	195 M	$ 164.31	0.31 %	$ 33.2 B	USA
UP Fintech Holding Limited TIGR	1.34 M	$ 9.14	-1.08 %	$ 22 B	China
Virtu Financial VIRT	24.5 M	$ 33.7	-0.04 %	$ 2.95 B	USA
Westwood Holdings Group WHG	1.43 M	$ 17.76	6.03 %	$ 145 M	USA
XP XP	163 M	$ 17.66	0.97 %	$ 13.8 B	Brasil
The Charles Schwab Corporation SCHW	519 M	$ 97.06	0.42 %	$ 177 B	USA