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Hennessy Advisors, Inc.

HNNA Financial Asset Management

Hennessy Advisors, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $35.5 million, up 19.9% from fiscal 2024.

Revenue
+4.17%
EPS
−3.85%
Free cash flow
−6.00%

Quarter to June 2026, against a year earlier

10.35 0.18 −1.71%
Market cap
$83.2M
P/E
10.0×
Fwd P/E
10.6×
Dividend yield
5.68%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.19
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — — — 1 — — — 4 — —
Insider Ownership 41.92%

Capital & Financial Ratios $m

Size
Market Cap 83.15
Revenue ttm 33.34
Net income ttm 8.26
Free cash flow ttm 10.18
Net debt Q (35.36)
Valuation
P/E 9.95
Forward P/E 10.60
Price / sales 2.45
Forward P/S Powerpack
Price / FCF 8.04
Price / book 0.81
Financial health
Current ratio Q 9.39
Debt / equity Q 0.00
Interest coverage Q 3.83
Growth
Revenue growth Q +4.17% (above 0%: growing)
Operating income growth Q +2.25% (above 0%: growing)
EPS, this year —
EPS, next year A —
Revenue, next year A −9.34% (below 0%: weak)
EPS, past 5 yrs +3.68%
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 59.85%
10-year low 10-year high
P/S against its own 10 years 71.91%
10-year low 10-year high
P/B against its own 10 years 32.27%
10-year low 10-year high

Dividends

Yield
5.68%
Annual rate
0.59
Payout ratio
56.5%
Growth, 2018–26
+4.87%/yr
  1. 0.41 ’18
  2. 0.50 ’19 +21
  3. 0.55 ’20 +11
  4. 0.55 ’21 +0
  5. 0.69 ’22 +25
  6. 0.55 ’23 −20
  7. 0.55 ’24 +0
  8. 0.55 ’25 +0
  9. 0.60 ’26 +9
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 60 64 72 35
Receivables 3 4 3 3
Inventory — — — —
Other — — — —
64 68 77 39
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt — — — —
Other — — — —
4 5 6 4

Compound Annual Growth %

10y 5y 3y
Sales (2.28%) 1.26% 6.20%
Cash Flow (0.46%) 5.36% 16.76%
Earnings (1.33%) 4.90% 17.18%
Book Value 15.52% 4.57% 4.24%

EPS $

Dec Mar Jun Sep Year
’26 0.24 0.24 0.25 — —
’25 0.36 0.33 0.26 0.31 1.27
’24 0.16 0.20 0.26 0.30 0.92
’23 0.15 0.15 0.15 0.17 0.63
’22 0.25 0.21 0.17 0.19 0.82
’21 0.24 0.26 0.30 0.26 1.07
’20 0.35 0.27 0.24 0.20 1.06
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 8 8 8 — —
’25 10 9 8 9 36
’24 6 7 8 9 30
’23 6 6 6 6 24
’22 9 8 7 6 30
’21 8 8 9 9 33
’20 10 9 7 7 33
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 1 2 4 — —
’25 2 4 4 4 14
’24 0 2 4 3 9
’23 0 2 3 2 7
’22 1 2 3 2 9
’21 1 3 4 3 10
’20 1 4 3 3 11
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 1 2 4 — —
’25 2 4 4 4 13
’24 0 2 3 3 9
’23 0 2 3 2 7
’22 1 2 3 2 8
’21 1 3 4 3 10
’20 1 4 3 3 10
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 51 53 55 43 33 33 30 24 30 36 33 (4.0%) — — — —
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 23 23 23 15 11 11 8 7 10 14 11 (5.5%)
EBT margin, % 43.88 43.90 42.85 35.76 32.83 33.21 26.78 27.48 32.73 38.33 33.70 (5.6) pt
Net income 14 15 21 11 8 8 6 5 7 10 8 (4.0%)
Per share, $
Per share, $ Revenue 6.76 6.88 6.99 5.51 4.54 4.45 3.96 3.17 3.86 4.56 4.22 (4.3%)
Earnings 1.86 1.94 2.64 1.42 1.07 1.07 0.83 0.63 0.92 1.28 1.04 (4.1%)
Cash flow 2.39 2.58 2.76 1.86 1.44 1.41 1.16 0.94 1.21 1.77 1.33 (3.3%)
Capex (0.02) (0.02) (0.05) (0.03) (0.02) (0.03) (0.03) (0.03) (0.04) (0.06) (0.04) +9.9%
Free cash flow 2.37 2.56 2.71 1.83 1.42 1.38 1.13 0.91 1.17 1.71 1.29 (3.5%)
Book value 4.91 6.70 9.09 9.74 10.63 11.30 11.53 11.58 11.89 12.55 12.80 +11.0%
Shares, m 8 8 8 8 7 7 7 8 8 8 8 +0.3%
Valuation, ×
Valuation, × P/E 12.72 8.07 5.25 7.61 7.82 9.08 10.57 10.97 10.82 8.29 9.95 9.1
P/S 3.50 2.24 1.97 1.96 1.83 2.16 2.19 2.15 2.58 2.29 2.45 2.3
P/B 4.82 2.30 1.51 1.11 0.78 0.85 0.75 0.59 0.84 0.83 0.81 1.4
EV/Sales 4.01 2.44 1.90 1.81 1.66 1.83 1.67 1.44 1.90 1.49 — 2.0
EV/FCF 12.05 6.56 4.90 5.45 5.30 5.92 5.87 4.99 6.28 3.98 — 6.1
Cash, $m
Cash, $m Operating cash flow 18 20 22 14 11 10 9 7 9 14 11 (3.0%)
Capex 0 0 0 0 0 0 0 0 0 0 0 +10.2%
Free cash flow 18 20 21 14 10 10 8 7 9 13 10 (3.3%)
Balance, $m
Balance, $m Working capital (1) 10 19 18 8 14 57 60 63 71 35 n/m
Net debt 27 10 (4) (7) (10) (15) (20) (21) (24) (33) (35) n/m
Shareholders’ equity 37 52 71 76 78 83 86 88 91 98 101 +11.3%
Returns, %
Returns, % ROA 18.18 16.40 19.94 10.04 7.65 8.03 5.04 3.30 4.77 6.37 5.88 (11.8) pt
ROIC 23.24 24.78 22.73 14.53 10.37 9.99 9.22 5.96 8.29 12.62 10.59 (10.6) pt
ROE 47.55 33.63 33.65 15.06 10.20 9.79 7.30 5.48 7.93 10.54 8.36 (37.0) pt
People
People Employees 22 23 23 21 21 20 19 17 18 18 — (2.2%)
Revenue/emp, $m 2.34 2.30 2.37 2.03 1.59 1.64 1.56 1.41 1.65 1.97 — (1.9%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Hennessy Advisors, Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HNNA Hennessy Advisors, Inc. $83.2M 10.0× 10.6× +4.17% (above 0%: growing) −3.85% (below 0%: shrinking) −6.00% (below 0%: shrinking) 100.00% 34.72%
PFX PhenixFIN Corporation $81.5M 17.2× 44.6× +4.77% (above 0%: growing) n/m +89.91% (above 0%: growing) 100.00% 68.13% Compare
BCIC BCP Investment Corporation $74.2M — (loss-making) — (loss-making) +20.07% (above 0%: growing) n/m +99.89% (above 0%: growing) 100.00% 37.20% Compare
GECC Great Elm Capital Group, Inc. $68.6M — (loss-making) 6.2× −18.30% (below 0%: shrinking) n/m +152.73% (above 0%: growing) 100.00% 67.38% Compare
AFCG Advanced Flower Capital Inc. $67.2M 2.8× 2.9× +40.12% (above 0%: growing) n/m +30.46% (above 0%: growing) 100.00% 64.59% Compare
GEG Great Elm Group, Inc. $66.5M — (loss-making) — (loss-making) −69.06% (below 0%: shrinking) n/m −378.19% (below 0%: shrinking) 0.00% (104.49%) Compare
SDEV Stablecoin Development Corporation $65.6M 0.1× — (loss-making) +2,540.45% (above 0%: growing) n/m +43.46% (above 0%: growing) 100.00% 91.79% Compare
PDCC Pearl Diver Credit Company Inc. $60.8M — (loss-making) — — +136.54% (above 0%: growing) — — — Compare
ZSTK ZeroStack Corp. $56.1M — (loss-making) — (loss-making) +40.67% (above 0%: growing) n/m +146.50% (above 0%: growing) 11.85% (177.43%) Compare
Median of peers $66.9M 2.8× 6.2× +20.07% — +89.91% 100.00% 64.59%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 10 December 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.60m 1.67m 146.40
2024 1.06m 1.13m 132.59
2023 852.30k 740.71k 82.39
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Hennessy Advisors, Inc. (HNNA) Latest News

28 Oct

Impact 3 · · PR Newswire

6 May

Impact 3 · · PR Newswire

5 Feb

Impact 4 · · PR Newswire
Impact 3 · · Associated Press FinanceAssociated Press FinanceAssociated Press FinanceAssociated Press FinanceMT NewswiresMT NewswiresMT NewswiresMT Newswires

3 Dec

Impact 4 · · PR NewswireStockStoryGuruFocus.comGuruFocus.comGuruFocus.comGuruFocus.com

5 Nov

Impact 4 · · Simply Wall St.

25 Sep

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

6 Aug

Impact 4 · · Associated Press Finance
Impact 3 ·

25 Jul

Impact 3 · · Simply Wall St.

15 May

Impact 3 · · Simply Wall St.

12 May

Impact 4 · · PR Newswire
Impact 3 · · Simply Wall St.

10 May

Impact 4 ·
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

7 May

Impact 4 ·

26 Mar

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

14 Mar

Impact 4 ·

13 Feb

Impact 4 · · PR Newswire
Impact 4 · · Simply Wall St.

11 Dec

Impact 4 · · PR Newswire

10 Nov

Impact 4 · · Simply Wall St.

3 Nov

Impact 3 · · Simply Wall St.

15 Aug

Impact 3 · · Simply Wall St.

11 Aug

Impact 4 · · Simply Wall St.

8 Aug

Impact 4 · · PR Newswire

8 May

Impact 4 · · PR Newswire

23 Feb

Impact 3 · · PR Newswire
stockrow.com/HNNA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com