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Hennessy Advisors, Inc.(HNNA)Earnings, Financials & Key Ratios
HNNA•NASDAQ•Banking & Credit
$9.97
$79M mkt cap·7.8× P/E·Price updated May 6, 2026
AboutHennessy Advisors, Inc. is publicly owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies. It conducts in-house research to make its investments. Hennessy Advisors, Inc. was founded in 1989 and is based in Novato, California with additional offices in Boston, Massachusetts and Chapel Hill, North Carolina.Show more
- Net Interest Income$3M+230.7%
- Total Revenue$36M+19.9%
- Net Income$10M+40.3%
- Return on Equity10.54%+32.9%
- Net Interest Margin1.73%+213.5%
- Efficiency Ratio33.11%-16.2%
- ROA6.37%+33.7%
- Equity / Assets60.91%+1.5%
- Book Value per Share12.48+5.6%
- Tangible BV/Share12.48+964.1%
- Debt/Equity0.41-6.6%
HNNA Key Insights
Hennessy Advisors, Inc. (HNNA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong Piotroski F-Score: 7/9
- ✓Efficient operations: 33.1% efficiency ratio
- ✓Well capitalized: 60.9% equity/assets
- ✓Healthy dividend yield of 5.4%
- ✓Diversified revenue: 92.2% from non-interest income
- ✓Trading at only 0.8x book value
✗Weaknesses
- ✗Weak NIM of 1.7%
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
HNNA Price & Volume
Hennessy Advisors, Inc. (HNNA) stock price & volume — 10-year historical chart
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HNNA Growth Metrics
Hennessy Advisors, Inc. (HNNA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-2.28%
5 Years1.26%
3 Years6.2%
TTM-
Profit CAGR
10 Years-1.33%
5 Years4.9%
3 Years17.18%
TTM3.72%
EPS CAGR
10 Years0%
5 Years3.68%
3 Years15.7%
TTM475%
Return on Capital
10 Years16.01%
5 Years7.89%
3 Years6.46%
Last Year8.72%
HNNA Peer Comparison
Hennessy Advisors, Inc. (HNNA) competitors in Traditional active asset managers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 GROW | 34.7M | 2.60 | -104 | -23.05% | -3.95% | 0.22% | 0.00 | |
 DHIL | 473.29M | 174.99 | 9.77 | 4.48% | 30.89% | 27.03% | 36.26 | |
 SAMG | 55.29M | 13.42 | 23.96 | 1.35% | 11.2% | 14.21% | 33.66% | 0.28 |
 VRTS | 958.73M | 143.19 | 7.17 | -8% | 16.66% | 13.51% | 2.74 | |
 AMG | 8.1B | 303.64 | 13.35 | 19.83% | 29.3% | 16.01% | 12.4% | 0.61 |
 GCMG | 1.6B | 11.26 | 328.28 | 15.82% | 3.57% | 8.9% | 8.28% | |
 RILY | 311.09M | 8.85 | 1.16 | -11.45% | 29.82% | |||
 FDUS | 727.96M | 19.18 | 8.27 | 40.09% | 51.75% | 11.68% | 0.31 |
Compare HNNA vs Peers
Hennessy Advisors, Inc. (HNNA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HNNA Income Statement
Hennessy Advisors, Inc. (HNNA) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | -1.26M | -1.23M | -1.08M | -447K | 0 | -1.89M | 266K | 837K | 2.77M | 1.56M |
| NII Growth % | -1.95% | 2.31% | 11.65% | 58.76% | 100% | - | 114.05% | 214.66% | 230.7% | 510.38% |
| Net Interest Margin % | -1.28% | -1.12% | -0.98% | -0.47% | 0% | -1.32% | 0.18% | 0.55% | 1.73% | 0.98% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 229K | 2.52M | 3.11M | 2.77M | 2.71M |
| Interest Expense | 1.26M | 1.23M | 1.08M | 447K | 0 | 2.12M | 2.26M | 2.27M | 0 | 1.15M |
| Loan Loss Provision | 21.11M | 22.79M | 19.59M | 8.37M | 9.08M | 6.2M | 9.72M | 6.79M | 10.63M | 7.79M |
| Non-Interest Income | 52.95M | 54.59M | 42.72M | 33.39M | 32.76M | 29.44M | 21.5M | 26.53M | 32.77M | 31.44M |
| Non-Interest Income % | 100% | 100% | 100% | 100% | 100% | 99.23% | 89.5% | 89.5% | 92.21% | 92.06% |
| Total Revenue | 52.95M▲ 0% | 54.59M▲ 3.1% | 42.72M▼ 21.8% | 33.39M▼ 21.8% | 32.76M▼ 1.9% | 29.67M▼ 9.4% | 24.02M▼ 19.0% | 29.65M▲ 23.4% | 35.54M▲ 19.9% | 34.15M▲ 0% |
| Revenue Growth % | 3.01% | 3.09% | -21.75% | -21.83% | -1.88% | -9.44% | -19.03% | 23.42% | 19.87% | 19.66% |
| Non-Interest Expense | 6.1M | 6.09M | 6.02M | 13.25M | 12.8M | 11.51M | 5.71M | 11.71M | 11.77M | 13.29M |
| Efficiency Ratio | 11.52% | 11.17% | 14.1% | 39.68% | 39.08% | 38.78% | 23.77% | 39.52% | 33.11% | 38.93% |
| Operating Income | 24.49M▲ 0% | 24.48M▼ 0.1% | 16.02M▼ 34.5% | 11.32M▼ 29.3% | 10.88M▼ 3.9% | 9.84M▼ 9.6% | 6.33M▼ 35.6% | 8.87M▲ 40.0% | 13.14M▲ 48.2% | 11.92M▲ 0% |
| Operating Margin % | 46.25% | 44.83% | 37.51% | 33.9% | 33.21% | 33.16% | 26.37% | 29.91% | 36.99% | 34.9% |
| Operating Income Growth % | 2.96% | -0.07% | -34.54% | -29.35% | -3.89% | -9.56% | -35.62% | 39.99% | 48.25% | - |
| Pretax Income | 23.25M▲ 0% | 23.39M▲ 0.6% | 15.28M▼ 34.7% | 10.96M▼ 28.2% | 10.88M▼ 0.7% | 7.95M▼ 27.0% | 6.6M▼ 16.9% | 9.7M▲ 47.0% | 13.62M▲ 40.4% | 12.33M▲ 0% |
| Pretax Margin % | 43.9% | 42.85% | 35.76% | 32.83% | 33.21% | 26.78% | 27.48% | 32.73% | 38.33% | 36.11% |
| Income Tax | 8.31M | 2.78M | 4.24M | 3.12M | 2.98M | 1.76M | 1.83M | 2.61M | 3.66M | 3.28M |
| Effective Tax Rate % | 35.73% | 11.88% | 27.78% | 28.46% | 27.38% | 22.1% | 27.71% | 26.87% | 26.87% | 26.57% |
| Net Income | 14.94M▲ 0% | 20.61M▲ 38.0% | 11.03M▼ 46.5% | 7.84M▼ 28.9% | 7.9M▲ 0.8% | 6.19M▼ 21.7% | 4.77M▼ 22.9% | 7.1M▲ 48.8% | 9.96M▲ 40.3% | 9.06M▲ 0% |
| Net Margin % | 28.22% | 37.76% | 25.82% | 23.48% | 24.12% | 20.86% | 19.86% | 23.94% | 28.03% | 26.52% |
| Net Income Growth % | 4% | 37.97% | -46.49% | -28.92% | 0.78% | -21.67% | -22.92% | 48.75% | 40.34% | 3.72% |
| Net Income (Continuing) | 14.94M | 20.61M | 11.03M | 7.84M | 7.9M | 6.19M | 4.77M | 7.1M | 9.96M | 9.06M |
| EPS (Diluted) | 1.92▲ 0% | 2.61▲ 35.9% | 1.42▼ 45.6% | 1.06▼ 25.4% | 1.07▲ 0.9% | 0.82▼ 23.4% | 0.63▼ 23.2% | 0.92▲ 46.0% | 1.27▲ 38.0% | 1.14▲ 0% |
| EPS Growth % | 3.23% | 35.94% | -45.59% | -25.35% | 0.94% | -23.36% | -23.17% | 46.03% | 38.04% | 475% |
| EPS (Basic) | 1.94 | 2.64 | 1.42 | 1.07 | 1.07 | 0.83 | 0.63 | 0.92 | 1.28 | - |
| Diluted Shares Outstanding | 7.79M | 7.89M | 7.77M | 7.38M | 7.41M | 7.56M | 7.6M | 7.72M | 7.83M | 7.97M |
HNNA Balance Sheet
Hennessy Advisors, Inc. (HNNA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | 15.71M | 25.4M | 24.7M | 9.96M | 15.85M | 58.5M | 60.49M | 63.93M | 72.44M | 282.32M |
| Cash & Due from Banks | 15.7M | 25.39M | 24.69M | 9.96M | 15.84M | 58.49M | 60.48M | 63.92M | 72.43M | 71.97M |
| Short Term Investments | 8K | 9K | 9K | 9K | 10K | 9K | 10K | 11K | 12K | 12K |
| Total Investments | 8K | 9K | -80.63M | 9K | -80.63M | 9K | 10K | 11K | 12K | 12K |
| Investments Growth % | 0% | 12.5% | -896033.33% | 100.01% | -896022.22% | 100.01% | 11.11% | 10% | 9.09% | 18.18% |
| Long-Term Investments | -74.63M | 0 | -80.64M | 0 | -80.64M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivables | 4.33M | 4.26M | 3.29M | 2.4M | 2.79M | 2.05M | 2.05M | 2.96M | 2.77M | 2.77M |
| Goodwill & Intangibles | 74.63M | 0 | 80.64M | 0 | 80.64M | 0 | 0 | 82.25M | 0 | 82.25M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 74.63M | 0 | 80.64M | 0 | 80.64M | 0 | 0 | 82.25M | 0 | 82.25M |
| PP&E (Net) | 254K | 382K | 361K | 570K | 1.32M | 971K | 600K | 1.39M | 1.2M | 1.11M |
| Other Assets | 74.1M | 78.35M | 70.57M | 80.83M | 68.44M | 81.02M | 81.42M | 183K | 82.74M | 183K |
| Total Current Assets | 22.9M | 30.74M | 29.01M | 13.38M | 19.71M | 61.66M | 63.7M | 68.28M | 76.52M | 76.01M |
| Total Non-Current Assets | 75.03M | 78.74M | 81.2M | 81.4M | 82.2M | 82M | 82.02M | 83.82M | 83.94M | 83.54M |
| Total Assets | 97.93M▲ 0% | 109.48M▲ 11.8% | 110.21M▲ 0.7% | 94.79M▼ 14.0% | 101.91M▲ 7.5% | 143.65M▲ 41.0% | 145.72M▲ 1.4% | 152.1M▲ 4.4% | 160.46M▲ 5.5% | 159.56M▲ 0% |
| Asset Growth % | 15.29% | 11.8% | 0.66% | -13.99% | 7.51% | 40.97% | 1.44% | 4.38% | 5.5% | 20.86% |
| Return on Assets (ROA) | 16.34% | 19.88% | 10.04% | 7.65% | 8.03% | 5.04% | 3.3% | 4.77% | 6.37% | 5.72% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 25.96M | 21.73M | 17.38M | 330K | 1M | 39.52M | 39.44M | 40.5M | 40.5M | 40.73M |
| Net Debt | 10.26M | -3.67M | -7.31M | -9.63M | -14.83M | -18.97M | -21.03M | -23.42M | -31.93M | -31.23M |
| Long-Term Debt | 21.73M | 17.5M | 13.05M | 0 | 0 | 38.87M | 39.16M | 39.48M | 39.81M | 233K |
| Short-Term Debt | 4.23M | 4.23M | 4.33M | 0 | 0 | 0 | 0 | 0 | 0 | 39.89M |
| Other Liabilities | -669K | 0 | 0 | 0 | 12.44M | 0 | 0 | 0 | 0 | 3.06M |
| Total Current Liabilities | 12.46M | 12.04M | 11.36M | 5.09M | 5.56M | 4.72M | 4.19M | 4.95M | 6.01M | 40.27M |
| Total Non-Current Liabilities | 33.94M | 26.46M | 23.32M | 11.52M | 13.08M | 52.64M | 53.77M | 55.83M | 56.71M | 20.38M |
| Total Liabilities | 46.4M | 38.5M | 34.68M | 16.61M | 18.64M | 57.35M | 57.97M | 60.79M | 62.72M | 60.65M |
| Total Equity | 61.78M▲ 0% | 70.98M▲ 14.9% | 75.53M▲ 6.4% | 78.18M▲ 3.5% | 83.26M▲ 6.5% | 86.3M▲ 3.6% | 87.75M▲ 1.7% | 91.31M▲ 4.1% | 97.74M▲ 7.0% | 98.91M▲ 0% |
| Equity Growth % | 65.49% | 14.9% | 6.41% | 3.51% | 6.5% | 3.65% | 1.68% | 4.06% | 7.04% | 27.09% |
| Equity / Assets (Capital Ratio) | 63.09% | 64.83% | 68.53% | 82.48% | 81.71% | 60.07% | 60.22% | 60.03% | 60.91% | 61.99% |
| Return on Equity (ROE) | 30.15% | 31.06% | 15.06% | 10.2% | 9.79% | 7.3% | 5.48% | 7.93% | 10.54% | 9.33% |
| Book Value per Share | 7.93 | 9.00 | 9.72 | 10.60 | 11.24 | 11.42 | 11.54 | 11.83 | 12.48 | 12.42 |
| Tangible BV per Share | -1.65 | 9.00 | -0.66 | 10.60 | 0.35 | 11.42 | 11.54 | 1.17 | 12.48 | 2.09 |
| Common Stock | 14.94M | 16.78M | 17.67M | 18.7M | 19.96M | 20.95M | 21.8M | 22.59M | 23.48M | 23.81M |
| Additional Paid-in Capital | 14.94M | 16.78M | 17.67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 36.59M | 54.2M | 57.85M | 59.47M | 63.3M | 65.35M | 65.95M | 68.72M | 74.26M | 75.1M |
| Accumulated OCI | -922K | 0 | -1.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 36.59M | 0 | 57.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
HNNA Cash Flow Statement
Hennessy Advisors, Inc. (HNNA) cash flow — operating, investing & free cash flow history
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 19.85M | 21.53M | 14.39M | 10.62M | 10.39M | 8.66M | 7.13M | 9.28M | 13.79M | 13.79M |
| Operating CF Growth % | 9.13% | 8.49% | -33.16% | -26.19% | -2.23% | -16.57% | -17.67% | 30.04% | 48.67% | 53.1% |
| Net Income | 14.94M | 20.61M | 11.03M | 7.84M | 7.9M | 6.19M | 4.77M | 7.1M | 9.96M | 9.06M |
| Depreciation & Amortization | 219K | 231K | 225K | 239K | 232K | 207K | 230K | 244K | 290K | 295K |
| Deferred Taxes | 1.72M | -2.58M | 1.3M | 1.25M | 921K | 1.05M | 1.12M | 1.05M | 911K | 887K |
| Other Non-Cash Items | 147K | 95K | 106K | 63K | -71K | 264K | 282K | 341K | 328K | 949K |
| Working Capital Changes | 703K | 753K | -458K | -549K | -36K | -283K | -281K | -446K | 1.18M | 174K |
| Cash from Investing | -445K | -3.9M | -1.97M | -882K | -249K | -231K | -819K | -1.3M | -627K | -560K |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Investment Activity | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -269K | -3.54M | -1.77M | -710K | 0 | -15K | -604K | -990K | -187K | -33K |
| Cash from Financing | -7.24M | -7.94M | -13.13M | -24.47M | -4.26M | 34.22M | -4.33M | -4.53M | -4.66M | -4.67M |
| Dividends Paid | -2.21M | -2.88M | -3.54M | -3.97M | -3.97M | -4.04M | -4.1M | -8K | -4.2M | -4.22M |
| Share Repurchases | -654K | -660K | -5.15M | -3.03M | -322K | -356K | -233K | -403K | -459K | -459K |
| Stock Issued | 3K | 16K | 20K | 22K | 38K | 5K | 9K | 27K | 7K | 6K |
| Net Stock Activity | -651K | -644K | -5.13M | -3.01M | -284K | -351K | -224K | -376K | -452K | -453K |
| Debt Issuance (Net) | -1000K | -1000K | -1000K | -1000K | 0 | 1000K | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -23K | -84K | 0 | 0 | -430K | 0 | -4.14M | 0 | 0 |
| Net Change in Cash | 12.16M▲ 0% | 9.7M▼ 20.3% | -708K▼ 107.3% | -14.73M▼ 1980.8% | 5.88M▲ 139.9% | 42.65M▲ 625.2% | 1.99M▼ 95.3% | 3.45M▲ 73.3% | 8.51M▲ 146.9% | 6.99M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 3.54M | 15.7M | 25.39M | 24.69M | 9.96M | 15.84M | 58.49M | 60.48M | 63.92M | 72.43M |
| Cash at End | 15.7M | 25.39M | 24.69M | 9.96M | 15.84M | 58.49M | 60.48M | 63.92M | 72.43M | 71.97M |
| Interest Paid | 1.11M | 1.1M | 999K | 381K | 0 | 1.86M | 1.96M | 1.96M | 1.96M | -491K |
| Income Taxes Paid | 6.68M | 4.44M | 3.08M | 1.6M | 1.96M | 938K | 779K | 2.12M | 2.27M | -3K |
| Free Cash Flow | 19.67M▲ 0% | 21.17M▲ 7.6% | 14.19M▼ 33.0% | 10.45M▼ 26.3% | 10.14M▼ 3.0% | 8.45M▼ 16.7% | 6.92M▼ 18.1% | 8.96M▲ 29.6% | 13.35M▲ 49.0% | 11.84M▲ 0% |
| FCF Growth % | 9.27% | 7.63% | -32.98% | -26.34% | -3% | -16.65% | -18.11% | 29.56% | 48.95% | 10.5% |
HNNA Banking Ratios
Hennessy Advisors, Inc. (HNNA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 30.15% | 31.06% | 15.06% | 10.2% | 9.79% | 7.3% | 5.48% | 7.93% | 10.54% | 9.33% |
| Return on Assets (ROA) | 16.34% | 19.88% | 10.04% | 7.65% | 8.03% | 5.04% | 3.3% | 4.77% | 6.37% | 5.72% |
| Net Interest Margin | -1.28% | -1.12% | -0.98% | -0.47% | 0% | -1.32% | 0.18% | 0.55% | 1.73% | 0.98% |
| Efficiency Ratio | 11.52% | 11.17% | 14.1% | 39.68% | 39.08% | 38.78% | 23.77% | 39.52% | 33.11% | 38.93% |
| Equity / Assets | 63.09% | 64.83% | 68.53% | 82.48% | 81.71% | 60.07% | 60.22% | 60.03% | 60.91% | 61.99% |
| Book Value / Share | 7.93 | 9 | 9.72 | 10.6 | 11.24 | 11.42 | 11.54 | 11.83 | 12.48 | 12.42 |
| NII Growth | -1.95% | 2.31% | 11.65% | 58.76% | 100% | - | 114.05% | 214.66% | 230.7% | 107.15% |
| Dividend Payout | 14.79% | 13.98% | 32.08% | 50.59% | 50.27% | 65.25% | 85.98% | 0.11% | 42.21% | 46.58% |
HNNA SEC Filings & Documents
Hennessy Advisors, Inc. (HNNA) SEC filings — annual & quarterly reports (10-K, 10-Q)
HNNA Frequently Asked Questions
Hennessy Advisors, Inc. (HNNA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Hennessy Advisors, Inc. (HNNA) grew revenue by 19.9% over the past year. This is strong growth.
Yes, Hennessy Advisors, Inc. (HNNA) is profitable, generating $9.1M in net income for fiscal year 2025 (28.0% net margin).
Dividend & Returns
Yes, Hennessy Advisors, Inc. (HNNA) pays a dividend with a yield of 5.39%. This makes it attractive for income-focused investors.
Hennessy Advisors, Inc. (HNNA) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.
Industry Metrics
Hennessy Advisors, Inc. (HNNA) has a net interest margin (NIM) of 1.7%. NIM has been under pressure due to interest rate environment.
Hennessy Advisors, Inc. (HNNA) has an efficiency ratio of 33.1%. This is excellent, indicating strong cost control.
Explore More HNNA
Hennessy Advisors, Inc. (HNNA) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates