HGBL
Heritage Global Inc.
HGBL lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
HGBL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| N/A | |
| N/A |
HGBL's revenue is currently stable, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like HGBL.
IREN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
IREN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like IREN.
HGBL PE Valuation
HGBL has no meaningful PE right now: it lost money over the past year.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
HGBL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect HGBL's earnings to grow and its profitability to improve, with its revenue holding steady.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IREN's losses to grow, with revenue growing. However, they disagree widely on these estimates.
HGBL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.14 | — |
| Q3 2026 | -$0.41 | -556% |
| Q2 2026 | -$0.42 | -520% |
| Q1 2026 | $0.09 | -25% |
| Q4 2025 | $0.10 | -29% |
| Q3 2025 | $0.09 | -68% |
| Q2 2025 | $0.10 | -67% |
| Q1 2025 | $0.12 | -60% |
| Q4 2024 | $0.14 | -58% |
HGBL has swung to a loss: it lost $0.41 per share over the past year, after a profit the year before.
IREN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.96 | -347% |
| Q2 2026 | -$2.22 | -988% |
| Q1 2026 | $0.51 | +$1.10 |
| Q4 2025 | $1.18 | +$1.62 |
| Q3 2025 | $1.60 | +$1.99 |
| Q2 2025 | $0.25 | +$0.45 |
| Q1 2025 | -$0.59 | -$0.43 |
| Q4 2024 | -$0.44 | -$0.15 |
IREN has the edge over HGBL on earnings, with more consistent year-over-year improvement.
HGBL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $14.6M | +28% |
| Q2 2026 | $12.3M | -14% |
| Q1 2026 | $12.7M | -5.5% |
| Q4 2025 | $11.9M | +10% |
| Q3 2025 | $11.4M | +9.1% |
| Q2 2025 | $14.3M | +19% |
| Q1 2025 | $13.5M | +11% |
| Q4 2024 | $10.8M | -30% |
HGBL's revenue has held roughly level: $15M last quarter, up 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.2% | -4.3 points |
| Q2 2026 | -170% | -186 points |
| Q1 2026 | 7.9% | -2.5 points |
| Q4 2025 | 6.5% | -7.2 points |
| Q3 2025 | 11% | -2.8 points |
| Q2 2025 | 16% | -14 points |
| Q1 2025 | 10% | -11 points |
| Q4 2024 | 14% | -16 points |
HGBL has the edge over IREN on profitability, with a higher operating margin.
IREN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $228M | -5.1% |
| Q2 2026 | $137.2M | -27% |
| Q1 2026 | $144.8M | 0% |
| Q4 2025 | $184.7M | +59% |
| Q3 2025 | $240.3M | +355% |
| Q2 2025 | $187.3M | +230% |
| Q1 2025 | $144.8M | +168% |
| Q4 2024 | $116.1M | +176% |
IREN has the edge over HGBL on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -82% | -50 points |
| Q2 2026 | -452% | -461 points |
| Q1 2026 | -161% | -180 points |
| Q4 2025 | -63% | -79 points |
| Q3 2025 | -32% | +57 points |
| Q2 2025 | 9% | +49 points |
| Q1 2025 | 19% | +8 points |
| Q4 2024 | 15% | +21 points |
IREN's operating margin was −82% last quarter, down 50 points from the same quarter a year ago.
HGBL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6M | +$2.8M |
| Q2 2026 | $1.4M | -18% |
| Q1 2026 | -$3.2M | +$1.6M |
| Q4 2025 | $971K | +$6.5M |
| Q3 2025 | -$233K | -104% |
| Q2 2025 | $1.7M | -71% |
| Q1 2025 | -$4.8M | -390% |
| Q4 2024 | -$5.5M | -1394% |
HGBL has the edge over IREN on cash generation, producing positive trailing cash flow while its opponent burns cash.
IREN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$1.6B |
| Q2 2026 | $482.2M | +2895% |
| Q1 2026 | -$873.8M | -$523.1M |
| Q4 2025 | -$468M | -$334M |
| Q3 2025 | -$38M | +$349.4M |
| Q2 2025 | $16.1M | +$179M |
| Q1 2025 | -$350.7M | -$128.7M |
| Q4 2024 | -$134M | -$105.2M |
IREN's free cash flow was −$2.5B over the past year, against −$507M the year before. Free cash flow isn't a meaningful measure for financial services companies like IREN.
HGBL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +443K shares |
| 1 year | -0.4% | -134K shares |
| 3 years | -6.8% | -2.6M shares |
| 5 years | -5.4% | -2M shares |
| Available history | +20% | +5.8M shares |
HGBL has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $134,000 |
| Q1 2026 | $141,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $1.6M |
| Q1 2025 | $1M |
| Q4 2024 | $1.1M |
HGBL spent $275,000 buying back its own shares over the past year, down 93% from the year before.
IREN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +26% | +82.4M shares |
| 1 year | +10% | +36.9M shares |
| 3 years | +511% | +333M shares |
| 5 years | +624% | +344M shares |
| Available history | +2346% | +382M shares |
IREN has 399M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
HGBL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -3.3x | Net Cash |
| Q3 2025 | -2.2x | Net Cash |
| Q2 2025 | -2.2x | Net Cash |
| Q1 2025 | -1.7x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
| Q3 2024 | -2.1x | Net Cash |
| Q2 2024 | -1.8x | Net Cash |
HGBL has the edge over IREN on leverage, with a lower net debt burden relative to earnings.
IREN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 157.6x | High |
| Q4 2025 | 22.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -16.7x | Net Cash |
| Q2 2024 | -15.9x | Net Cash |
IREN's net debt is more than 20 years of its operating earnings (EBITDA), up from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like IREN.
HGBL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.1 | Neutral |
| Stochastic | 48.5 | Neutral |
HGBL's weekly RSI is 41 (neutral) and its Stochastic is 49 (neutral).
IREN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 8.2 | Oversold |
IREN's weekly RSI is 33 (neutral) and its Stochastic is 8 (oversold).
HGBL PE vs Financial Services Sector
| Metric | HGBL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
HGBL has no meaningful PE right now: it lost money over the past year.
IREN PE vs Financial Services Sector
| Metric | IREN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
IREN has no meaningful PE right now: it lost money over the past year.
HGBL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.26 | 7.9% below |
| 20 week MA | $1.24 | 6.5% below |
| 50 week MA | $1.28 | 9.4% below |
| 100 week MA | $1.61 | 28% below |
| 200 week MA | $2.14 | 46% below |
HGBL is in a downtrend: it's below all five of its weekly moving averages, and 46% below its 200-week average.
IREN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 35% below |
| 20 week MA | $36.2 | 46% below |
| 50 week MA | $42.8 | 54% below |
| 100 week MA | $32.0 | 39% below |
| 200 week MA | $19.1 | 2.1% above |
IREN has the edge over HGBL on trend strength, trading above more of its moving averages.
HGBL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.90 | $3.13 | +248% |
| 2021 | $3.13 | $1.50 | -52% |
| 2022 | $1.50 | $2.37 | +58% |
| 2023 | $2.37 | $2.78 | +17% |
| 2024 | $2.78 | $1.72 | -38% |
| 2025 | $1.72 | $1.26 | -27% |
| 2026 YTD | $1.26 | $1.16 | -7.9% |
HGBL has the edge over IREN on returns for 2026, with the stronger performance.
IREN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.8 | $17.2 | -31% |
| 2022 | $17.2 | $1.19 | -93% |
| 2023 | $1.19 | $7.15 | +501% |
| 2024 | $7.15 | $10.7 | +50% |
| 2025 | $10.7 | $40.3 | +276% |
| 2026 YTD | $40.3 | $19.5 | -52% |
IREN's yearly returns have swung widely, from +501% in 2023 to −93% in 2022. It's down 52% so far in 2026.