Heritage Global Inc
NASDAQ:HGBL
Heritage Global Inc
Heritage Global, Inc. engages in the provision of corporate and financial asset liquidation transactions, valuations, and advisory services. The company is headquartered in San Diego, California and currently employs 63 full-time employees. The company went IPO on 2014-04-29. The Company’s segments consist of the Industrial Asset Division and Financial Assets Division. Its Industrial Assets Division advises enterprise and financial customers on the sale of industrial assets. The Company’s Financial Assets Division provides liquidity to issuers of consumer credit to monetize nonperforming and charged-off loans. The company provides a full suite of services, including market making, acquisitions, dispositions, valuations and secured lending. The firm focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in approximately 25 global sectors. The company specializes both in the acting act as an adviser, as well as a principal, acquiring or brokering manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property and business enterprises.
Heritage Global, Inc. engages in the provision of corporate and financial asset liquidation transactions, valuations, and advisory services. The company is headquartered in San Diego, California and currently employs 63 full-time employees. The company went IPO on 2014-04-29. The Company’s segments consist of the Industrial Asset Division and Financial Assets Division. Its Industrial Assets Division advises enterprise and financial customers on the sale of industrial assets. The Company’s Financial Assets Division provides liquidity to issuers of consumer credit to monetize nonperforming and charged-off loans. The company provides a full suite of services, including market making, acquisitions, dispositions, valuations and secured lending. The firm focuses on identifying, valuing, acquiring and monetizing underlying tangible and intangible assets in approximately 25 global sectors. The company specializes both in the acting act as an adviser, as well as a principal, acquiring or brokering manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios, intellectual property and business enterprises.
Profitability: Heritage Global earned $1.4 million in EBITDA for Q3 2025, despite a challenging transaction environment.
Segment Performance: Industrial Assets saw operating income rise to $900,000 from $700,000 last year, while Financial Assets declined to $1.6 million from $1.8 million.
Economic Climate: The company faced a 'wait-and-see' market with fewer large transactions, but maintained strong conversion rates on smaller deals.
M&A Strategy: Management is now in the tactical execution phase for targeted M&A, aiming for near-term deals to drive growth.
Capital Allocation: Heritage authorized a $7.5 million share repurchase program, but is prioritizing M&A over buybacks for now.
Financial Health: Balance sheet remains strong with $66.5 million in equity and $19.4 million in cash; main debt is a $4.1 million mortgage.
Outlook: Management is optimistic about increased asset flow and market share opportunities as distressed assets rise and consolidation trends continue.
