Is Heritage Global, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Heritage Global, Inc. has moved from attractive to fair, indicating a shift in its perceived investment quality. Based on the current metrics, the company appears to be fairly valued. Key ratios include a P/E ratio of 16, an EV to EBITDA of 8.71, and a Price to Book Value of 1.10, which suggest that the company is in line with its valuation peers.
In comparison to its peers, Heritage Global's P/E ratio of 18.21 is notably lower than that of A-Mark Precious Metals, Inc., which is considered very expensive at 605.28, while B. Riley Financial, Inc. is classified as risky with a negative P/E ratio. The stock has underperformed relative to the S&P 500 across multiple periods, with a year-to-date return of -17.84% compared to the S&P 500's 13.30%, reinforcing the notion that the stock may not be an attractive investment at this time.