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Side-by-side financial comparison of Heritage Global Inc. (HGBL) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
ROCKWELL MEDICAL, INC. is the larger business by last-quarter revenue ($18.3M vs $11.9M, roughly 1.5× Heritage Global Inc.). Heritage Global Inc. runs the higher net margin — 2.5% vs -3.0%, a 5.6% gap on every dollar of revenue. On growth, Heritage Global Inc. posted the faster year-over-year revenue change (10.1% vs -25.6%). ROCKWELL MEDICAL, INC. produced more free cash flow last quarter ($2.2M vs $971.0K). Over the past eight quarters, Heritage Global Inc.'s revenue compounded faster (-1.3% CAGR vs -10.1%).
Global Media & Entertainment Limited, trading as Global, is a British media company formed in 2007. It is the owner of the largest commercial radio company in Europe having expanded through a number of historical acquisitions, including Chrysalis Radio, GCap Media, and GMG Radio. Global owns and operates seven core radio brands, all employing a national network strategy, including Capital, Heart, Smooth, Radio X, Gold, Classic FM, and LBC.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
HGBL vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.9M | $18.3M |
| Net Profit | $301.0K | $-554.0K |
| Gross Margin | — | 21.1% |
| Operating Margin | 6.5% | -2.2% |
| Net Margin | 2.5% | -3.0% |
| Revenue YoY | 10.1% | -25.6% |
| Net Profit YoY | 248.3% | 26.7% |
| EPS (diluted) | $0.00 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $11.9M | $18.3M | ||
| Q3 25 | $11.4M | $15.9M | ||
| Q2 25 | $14.3M | $16.1M | ||
| Q1 25 | $13.5M | $18.9M | ||
| Q4 24 | $10.8M | $24.7M | ||
| Q3 24 | $10.4M | $28.3M | ||
| Q2 24 | $12.0M | $25.8M | ||
| Q1 24 | $12.2M | $22.7M |
| Q4 25 | $301.0K | $-554.0K | ||
| Q3 25 | $585.0K | $-1.8M | ||
| Q2 25 | $1.6M | $-1.5M | ||
| Q1 25 | $1.1M | $-1.5M | ||
| Q4 24 | $-203.0K | $-756.0K | ||
| Q3 24 | $1.1M | $1.7M | ||
| Q2 24 | $2.5M | $343.0K | ||
| Q1 24 | $1.8M | $-1.7M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | -5.6% | 14.3% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 16.1% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 13.5% |
| Q4 25 | 6.5% | -2.2% | ||
| Q3 25 | 11.5% | -9.9% | ||
| Q2 25 | 15.6% | -8.4% | ||
| Q1 25 | 10.4% | -7.2% | ||
| Q4 24 | 13.8% | -2.1% | ||
| Q3 24 | 14.2% | 6.8% | ||
| Q2 24 | 29.5% | 2.0% | ||
| Q1 24 | 21.0% | -5.8% |
| Q4 25 | 2.5% | -3.0% | ||
| Q3 25 | 5.1% | -11.0% | ||
| Q2 25 | 11.4% | -9.3% | ||
| Q1 25 | 7.9% | -8.0% | ||
| Q4 24 | -1.9% | -3.1% | ||
| Q3 24 | 10.5% | 5.9% | ||
| Q2 24 | 20.8% | 1.3% | ||
| Q1 24 | 14.8% | -7.6% |
| Q4 25 | $0.00 | $-0.01 | ||
| Q3 25 | $0.02 | $-0.05 | ||
| Q2 25 | $0.05 | $-0.05 | ||
| Q1 25 | $0.03 | $-0.04 | ||
| Q4 24 | $-0.01 | $-0.02 | ||
| Q3 24 | $0.03 | $0.04 | ||
| Q2 24 | $0.07 | $0.01 | ||
| Q1 24 | $0.05 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.5M | $10.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $67.0M | $37.0M |
| Total Assets | $88.4M | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.5M | $10.7M | ||
| Q3 25 | $19.4M | $13.6M | ||
| Q2 25 | $19.8M | $12.5M | ||
| Q1 25 | $18.8M | $11.4M | ||
| Q4 24 | $21.7M | $15.7M | ||
| Q3 24 | $26.6M | $12.3M | ||
| Q2 24 | $24.6M | $11.9M | ||
| Q1 24 | $15.6M | $6.6M |
| Q4 25 | — | — | ||
| Q3 25 | $4.1M | — | ||
| Q2 25 | $4.2M | — | ||
| Q1 25 | $4.4M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $67.0M | $37.0M | ||
| Q3 25 | $66.5M | $37.0M | ||
| Q2 25 | $65.7M | $30.4M | ||
| Q1 25 | $65.4M | $31.5M | ||
| Q4 24 | $65.2M | $32.6M | ||
| Q3 24 | $66.1M | $29.1M | ||
| Q2 24 | $65.8M | $23.5M | ||
| Q1 24 | $63.0M | $20.6M |
| Q4 25 | $88.4M | $57.1M | ||
| Q3 25 | $86.5M | $57.5M | ||
| Q2 25 | $87.7M | $52.6M | ||
| Q1 25 | $86.7M | $54.0M | ||
| Q4 24 | $81.3M | $59.2M | ||
| Q3 24 | $88.5M | $57.1M | ||
| Q2 24 | $90.0M | $53.0M | ||
| Q1 24 | $83.7M | $50.7M |
| Q4 25 | — | — | ||
| Q3 25 | 0.06× | — | ||
| Q2 25 | 0.06× | — | ||
| Q1 25 | 0.07× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6M | $2.3M |
| Free Cash FlowOCF − Capex | $971.0K | $2.2M |
| FCF MarginFCF / Revenue | 8.2% | 12.0% |
| Capex IntensityCapex / Revenue | 5.1% | 0.5% |
| Cash ConversionOCF / Net Profit | 5.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.3M | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6M | $2.3M | ||
| Q3 25 | $61.0K | $-1.3M | ||
| Q2 25 | $1.9M | $1.8M | ||
| Q1 25 | $2.6M | $-3.5M | ||
| Q4 24 | $-5.5M | $865.0K | ||
| Q3 24 | $5.5M | $4.3M | ||
| Q2 24 | $6.1M | $1.4M | ||
| Q1 24 | $1.7M | $-2.4M |
| Q4 25 | $971.0K | $2.2M | ||
| Q3 25 | $-233.0K | $-1.5M | ||
| Q2 25 | $1.7M | $1.7M | ||
| Q1 25 | $-4.8M | $-3.5M | ||
| Q4 24 | $-5.5M | $470.0K | ||
| Q3 24 | $5.5M | $4.1M | ||
| Q2 24 | $6.0M | $1.2M | ||
| Q1 24 | $1.7M | $-2.5M |
| Q4 25 | 8.2% | 12.0% | ||
| Q3 25 | -2.1% | -9.6% | ||
| Q2 25 | 12.0% | 10.5% | ||
| Q1 25 | -35.6% | -18.8% | ||
| Q4 24 | -51.2% | 1.9% | ||
| Q3 24 | 52.7% | 14.4% | ||
| Q2 24 | 49.7% | 4.5% | ||
| Q1 24 | 13.6% | -11.1% |
| Q4 25 | 5.1% | 0.5% | ||
| Q3 25 | 2.6% | 1.4% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | 55.0% | 0.3% | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.3% | 0.7% | ||
| Q2 24 | 0.6% | 1.1% | ||
| Q1 24 | 0.2% | 0.6% |
| Q4 25 | 5.25× | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 2.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.07× | 2.57× | ||
| Q2 24 | 2.42× | 4.20× | ||
| Q1 24 | 0.93× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HGBL
| Services | $7.9M | 67% |
| Products | $4.0M | 33% |
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
