Hennessy Advisors, Inc. (HNNA) Financial Ratios
25 years of historical data (2001–2025) · Financial Services · Asset Management
EV/EBITDA
↓
3.44
↓-28% vs avg
5yr avg: 4.76
30Y Low3.7·High11.7
P/FCF
↓
5.86
↓-20% vs avg
5yr avg: 7.36
30Y Low5.2·High20.1
P/B Ratio
↓
0.79
+3% vs avg
5yr avg: 0.77
30Y Low0.5·High6.1
ROE
↑
10.5%
↓+28% vs avg
5yr avg: 8.2%
30Y Low-1%·High97%
Debt/EBITDA
↑
3.01
↓-14% vs avg
5yr avg: 3.50
30Y Low0.0·High6.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HNNA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Hennessy Advisors, Inc. trades at 7.8x earnings, 21% below its 5-year average of 9.8x, sitting at the 10th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 42%. On a free-cash-flow basis, the stock trades at 5.9x P/FCF, 20% below the 5-year average of 7.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $78M | $82M | $77M | $51M | $66M | $71M | $61M | $84M | $109M | $120M | $183M |
| Enterprise Value | $46M | $50M | $53M | $30M | $47M | $56M | $52M | $77M | $106M | $131M | $209M |
| P/E Ratio → | 7.80 | 8.23 | 10.82 | 10.57 | 10.57 | 8.99 | 7.82 | 7.61 | 5.31 | 8.04 | 12.72 |
| P/S Ratio | 2.20 | 2.30 | 2.59 | 2.11 | 2.21 | 2.18 | 1.83 | 1.97 | 2.00 | 2.27 | 3.55 |
| P/B Ratio | 0.79 | 0.84 | 0.84 | 0.58 | 0.76 | 0.86 | 0.78 | 1.11 | 1.54 | 1.95 | 4.89 |
| P/FCF | 5.86 | 6.13 | 8.57 | 7.32 | 7.76 | 7.03 | 5.85 | 5.92 | 5.16 | 6.12 | 10.14 |
| P/OCF | 5.67 | 5.93 | 8.28 | 7.10 | 7.56 | 6.86 | 5.76 | 5.84 | 5.08 | 6.06 | 10.04 |
P/E links to full P/E history page with 30-year chart
HNNA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Hennessy Advisors, Inc.'s enterprise value stands at 3.4x EBITDA, 28% below its 5-year average of 4.8x. The Financial Services sector median is 11.4x, placing the stock at a 70% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.40 | 1.80 | 1.23 | 1.57 | 1.72 | 1.54 | 1.80 | 1.93 | 2.47 | 4.07 |
| EV / EBITDA | 3.44 | 3.71 | 5.86 | 4.51 | 4.63 | 5.08 | 4.46 | 4.72 | 4.28 | 5.28 | 8.66 |
| EV / EBIT | 3.52 | 3.79 | 6.02 | 4.67 | 4.73 | 5.19 | 4.55 | 4.69 | 4.29 | 5.33 | 8.79 |
| EV / FCF | — | 3.74 | 5.96 | 4.28 | 5.51 | 5.57 | 4.93 | 5.41 | 4.99 | 6.64 | 11.62 |
HNNA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Hennessy Advisors, Inc. earns an operating margin of 37.0%, significantly above the Financial Services sector average of 21.2%. Operating margins have expanded from 26.4% to 37.0% over the past 3 years, signaling improving operational efficiency. ROE of 10.5% is modest. ROIC of 7.3% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.1% | 70.1% | 69.4% | 50.1% | 71.9% | 72.3% | 73.6% | 51.6% | 56.0% | 57.8% | 58.3% |
| Operating Margin | 37.0% | 37.0% | 29.9% | 26.4% | 33.2% | 33.2% | 33.9% | 37.5% | 44.8% | 46.3% | 46.3% |
| Net Profit Margin | 28.0% | 28.0% | 23.9% | 19.9% | 20.9% | 24.1% | 23.5% | 25.8% | 37.8% | 28.2% | 27.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | 7.9% | 5.5% | 7.3% | 9.8% | 10.2% | 15.1% | 31.1% | 30.2% | 47.6% |
| ROA | 6.4% | 6.4% | 4.8% | 3.3% | 5.0% | 8.0% | 7.6% | 10.0% | 19.9% | 16.3% | 18.2% |
| ROIC | 7.3% | 7.3% | 5.1% | 3.8% | 7.0% | 10.0% | 9.9% | 12.9% | 20.3% | 23.7% | 28.4% |
| ROCE | 8.7% | 8.7% | 6.1% | 4.5% | 8.4% | 11.7% | 12.0% | 16.3% | 26.8% | 30.8% | 34.8% |
HNNA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Hennessy Advisors, Inc. carries a Debt/EBITDA ratio of 3.0x, which is moderately leveraged (27% below the sector average of 4.1x). The company holds a net cash position — cash of $72M exceeds total debt of $41M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.41 | 0.41 | 0.44 | 0.45 | 0.46 | 0.01 | 0.00 | 0.23 | 0.31 | 0.42 | 0.81 |
| Debt / EBITDA | 3.01 | 3.01 | 4.45 | 6.01 | 3.93 | 0.09 | 0.03 | 1.07 | 0.88 | 1.05 | 1.25 |
| Net Debt / Equity | — | -0.33 | -0.26 | -0.24 | -0.22 | -0.18 | -0.12 | -0.10 | -0.05 | 0.17 | 0.71 |
| Net Debt / EBITDA | -2.38 | -2.38 | -2.57 | -3.20 | -1.89 | -1.33 | -0.83 | -0.45 | -0.15 | 0.42 | 1.10 |
| Debt / FCF | — | -2.39 | -2.61 | -3.04 | -2.25 | -1.46 | -0.92 | -0.52 | -0.17 | 0.52 | 1.48 |
| Interest Coverage | — | — | 3.90 | 2.81 | 4.64 | — | 25.32 | 15.09 | 20.07 | 19.51 | 19.31 |
Net cash position: cash ($72M) exceeds total debt ($41M)
HNNA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Hennessy Advisors, Inc.'s current ratio of 12.72x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 15.20x to 12.72x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.72 | 12.72 | 13.78 | 15.20 | 13.07 | 3.54 | 2.63 | 2.55 | 2.55 | 1.84 | 0.90 |
| Quick Ratio | 12.72 | 12.72 | 13.78 | 15.20 | 13.07 | 3.54 | 2.63 | 2.55 | 2.55 | 1.84 | 0.90 |
| Cash Ratio | 12.05 | 12.05 | 12.90 | 14.43 | 12.40 | 2.85 | 1.96 | 2.17 | 2.11 | 1.26 | 0.32 |
| Asset Turnover | — | 0.22 | 0.19 | 0.16 | 0.21 | 0.32 | 0.35 | 0.39 | 0.50 | 0.54 | 0.61 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
HNNA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Hennessy Advisors, Inc. returns 6.0% to shareholders annually — split between a 5.4% dividend yield and 0.6% buyback yield. A payout ratio of 42.2% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 12.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.4% | 5.1% | 0.0% | 8.1% | 6.2% | 5.6% | 6.5% | 4.2% | 2.6% | 1.8% | 0.8% |
| Payout Ratio | 42.2% | 42.2% | 0.1% | 86.0% | 65.3% | 50.3% | 50.6% | 32.1% | 14.0% | 14.8% | 10.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 12.8% | 12.2% | 9.2% | 9.5% | 9.5% | 11.1% | 12.8% | 13.1% | 18.8% | 12.4% | 7.9% |
| FCF Yield | 17.1% | 16.3% | 11.7% | 13.7% | 12.9% | 14.2% | 17.1% | 16.9% | 19.4% | 16.4% | 9.9% |
| Buyback Yield | 0.6% | 0.6% | 0.5% | 0.5% | 0.5% | 0.5% | 5.0% | 6.1% | 0.6% | 0.5% | 0.0% |
| Total Shareholder Yield | 6.0% | 5.7% | 0.5% | 8.6% | 6.7% | 6.0% | 11.4% | 10.3% | 3.2% | 2.4% | 0.8% |
| Shares Outstanding | — | $8M | $8M | $8M | $8M | $7M | $7M | $8M | $8M | $8M | $8M |
Peer Comparison
Compare HNNA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HNNAYou | $78M | 7.8 | 3.4 | 5.9 | 70.1% | 37.0% | 10.5% | 7.3% | 3.0 |
 GROW | $35M | -104.8 | — | — | 41.7% | -35.3% | -0.7% | -4.7% | — |
 DHIL | $473M | 9.8 | 110.4 | — | 96.0% | 38.4% | 28.8% | 1.3% | 103.4 |
 SAMG | $54M | 23.5 | 2.9 | 2.9 | 33.0% | 7.4% | 13.7% | 5.6% | 2.0 |
 VRTS | $960M | 7.2 | 16.3 | — | 74.9% | 17.4% | 13.5% | 3.0% | 13.9 |
 AMG | $8B | 13.5 | 10.8 | 8.1 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 GCMG | $2B | 328.9 | 26.0 | 12.1 | 45.0% | 14.0% | — | 15.5% | 6.3 |
 RILY | $315M | 1.2 | 8.4 | — | 65.0% | 14.6% | — | 8.3% | 7.9 |
 FDUS | $705M | 8.0 | 7.2 | — | 72.6% | 76.1% | 11.8% | 8.6% | 1.9 |
 CSWC | $1B | 16.5 | 27.6 | — | 66.5% | 48.5% | 8.6% | 3.5% | 11.2 |
 BLK | $167B | 25.6 | 20.7 | 35.4 | 49.4% | 37.1% | 14.1% | 9.9% | 1.8 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonHNNA — Frequently Asked Questions
Quick answers to the most common questions about buying HNNA stock.
What is Hennessy Advisors, Inc.'s P/E ratio?
Hennessy Advisors, Inc.'s current P/E ratio is 7.8x. The historical average is 12.6x. This places it at the 10th percentile of its historical range.
What is Hennessy Advisors, Inc.'s EV/EBITDA?
Hennessy Advisors, Inc.'s current EV/EBITDA is 3.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.5x.
What is Hennessy Advisors, Inc.'s ROE?
Hennessy Advisors, Inc.'s return on equity (ROE) is 10.5%. The historical average is 19.7%.
Is HNNA stock overvalued?
Based on historical data, Hennessy Advisors, Inc. is trading at a P/E of 7.8x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Hennessy Advisors, Inc.'s dividend yield?
Hennessy Advisors, Inc.'s current dividend yield is 5.42% with a payout ratio of 42.2%.
What are Hennessy Advisors, Inc.'s profit margins?
Hennessy Advisors, Inc. has 70.1% gross margin and 37.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Hennessy Advisors, Inc. have?
Hennessy Advisors, Inc.'s Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.