Heritage Global (HGBL) Operating Margin (2010 - 2026)
Heritage Global's Operating Margin came in at -170.49% for Q2 2026, down 186.10 percentage points from 15.60% a year earlier and down 178.41 percentage points from the prior quarter.
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Analysis
Heritage Global (HGBL) Operating Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Heritage Global reported Operating Margin of -36.98%, down 50.47 percentage points year-over-year; for FY2025, it came in at 11.20%, down 8.78 percentage points from FY2024.
- Operating Margin has declined in each of the last three years, with a five-year change of -11.94 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 19.99% in FY2024 (-3.66 pp), 23.65% in FY2023 (-0.05 pp), 23.70% in FY2022 (+12.02 pp) and 11.69% in FY2021 (-11.46 pp).
- The Q2 2026 figure represents the lowest quarterly Operating Margin in data going back to Q2 2010.
- Year-over-year, Operating Margin has declined for eight consecutive quarters, with an average year-over-year change of -30.34 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in Q2 2022 (a gain of 31.34 percentage points), and the weakest in Q2 2026 (a drop of 186.10 percentage points).
- Business Quant data shows HGBL's Operating Margin at 7.92% (Q1 2026), 6.54% (Q4 2025) and 11.45% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Rentals | 66.79 Bn | 65.55 Bn | 1.73 Bn | 25.80% |
| 2 | W.W. Grainger | 63.72 Bn | 61.32 Bn | 1.98 Bn | 16.07% |
| 3 | Fastenal | 60.28 Bn | 59.28 Bn | 1.10 Bn | 21.55% |
| 4 | Ferguson Enterprises | 44.38 Bn | 41.59 Bn | 2.32 Bn | 8.19% |
| 5 | Sunbelt Rentals Holdings | 32.28 Bn | 32.16 Bn | 1.25 Bn | 22.18% |
| 6 | Reliance | 21.45 Bn | 20.49 Bn | 1.30 Bn | 9.54% |
| 7 | Wesco International | 17.03 Bn | 14.34 Bn | 1.46 Bn | 5.73% |
| 8 | Applied Industrial Technologies | 12.67 Bn | 12.54 Bn | 411.22 Mn | 11.78% |
| 9 | Avantor | 11.71 Bn | 10.50 Bn | 537.00 Mn | 7.20% |
| 10 | Heritage Global | 44.32 Mn | -20.38 Mn | 8.34 Mn | -170.49% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -170.49% |
| Mar 31, 2026 | 7.92% |
| Dec 31, 2025 | 6.54% |
| Sep 30, 2025 | 11.45% |
| Jun 30, 2025 | 15.60% |
| Mar 31, 2025 | 10.42% |
| Dec 31, 2024 | 13.79% |
| Sep 30, 2024 | 14.21% |
| Jun 30, 2024 | 29.48% |
| Mar 31, 2024 | 21.03% |
| Dec 31, 2023 | 29.80% |
| Sep 30, 2023 | 17.81% |
| Jun 30, 2023 | 23.68% |
| Mar 31, 2023 | 23.44% |
| Dec 31, 2022 | 22.75% |
| Sep 30, 2022 | 27.44% |
| Jun 30, 2022 | 32.75% |
| Mar 31, 2022 | 9.35% |
| Dec 31, 2021 | 18.10% |
| Sep 30, 2021 | 8.90% |
API Access
Heritage Global Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=HGBL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "HGBL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=HGBL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();