Flagship explainer

What drives HERITAGE GLOBAL INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity5%Tax burden61%net income ÷ pretax incomeInterest burden102%pretax ÷ operating incomeOperating margin11%operating income ÷ revenueAsset turnover0.60×revenue ÷ average assetsEquity multiplier1.28×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$3.6MFY2025
Income before tax$5.8MFY2025
Operating income$5.7MFY2025
$51MFY2025
Ending assets$88.4MFY2025
Beginning assets$81.3MFY2024
$67MFY2025
$65.2MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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HGBL dupont explainer — Buy Like Buffett · Buy Like Buffett