Heritage Global Inc (HGBL) Fair Value & Analysis

Financial Services · US · Market cap $43.4M

A solid business, screening 66% undervalued on our models.

What matters now

• The price is below even our cautious bear case ($1.32). The market is more pessimistic than our downside scenario.
• Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $1.02 – $4.03 · fair‑value band $1.32 – $2.19 · the $1.06 price screens below the $1.76 fair value. Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

Heritage Global Inc (HGBL) currently trades at $1.06, while our model-based Fair Value estimate is $1.76, implying the stock looks roughly 66.0% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Heritage Global Inc generated revenue of $50.2M at a net margin of 6.5%. Revenue declined 5.5% year over year. It earns a return on equity of 4.9%. The balance sheet holds a net cash position of $14.8M. Fundamentals as of Jul 26, 2026

Our scenario range runs from $1.32 (bear case) to $2.19 (bull case); at $1.06, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 54% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at 66%, HGBL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Earnings-Based ($3.61) versus Asset-Based ($1.29). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Heritage Global Inc., together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions in the United States. It operates through three segments: Auction and Liquidation, Refurbishment and Resale, Brokerage, and Specialty Lending.

Full company description

Heritage Global Inc., together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions in the United States. It operates through three segments: Auction and Liquidation, Refurbishment and Resale, Brokerage, and Specialty Lending. The company offers a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services. It is also involved in identifying, valuing, acquiring, and monetizing underlying tangible assets. In addition, the company acts as an adviser, as well as a principal, acquiring, or brokering manufacturing facilities; surplus industrial machinery and equipment; industrial inventories; and charged-off receivable portfolios. The company was formerly known as Counsel RB Capital Inc. and changed its name to Heritage Global, Inc. in August 2013. Heritage Global, Inc. was founded in 1937 and is headquartered in San Diego, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Heritage Global Inc reported revenue of $51.0M in FY2025 versus $25.8M in FY2021, a compound +18.6%/yr. Reported net income was $3.6M in FY2025, compounding +4.1%/yr from FY2021.

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Peer Group

Capital Markets · 423 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Capital Markets median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.