Saturday 17 October 2026 Export HNNA’s income statement to Excel — free account

Hennessy Advisors, Inc.

Hennessy Advisors, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $35.5 million, up 19.9% from fiscal 2024. In the quarter to June 2026, revenue grew 4.17%, EPS fell 3.85% and free cash flow fell 6.00%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for three.

10.25 0.18 −1.73%

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Market cap: $82.5M
P/E: 9.9×
Fwd P/E: 10.6×
Dividend yield: 5.73%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.19

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	—	—	—	1	—	—	—	4	—

Insider Ownership 41.92%

Capital & Financial Ratios $m

Market Cap 82.45

Revenue 33.34

Net Income 8.26

Free Cash Flow 10.18

Net Debt (35.36)

Current Ratio 9.39

Debt/Equity 0.00

P/E ratio 9.86

Fwd P/E 10.60

P/S ratio 2.43

P/B ratio 0.80

Past 5Y EPS Growth 3.68%

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth (9.34%)

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 58.02%

10-year low 10-year high

P/S against its own 10 years 69.48%

10-year low 10-year high

P/B against its own 10 years 29.52%

10-year low 10-year high

Dividends

Payout Ratio 0.56

Annual Dividend Rate 0.59

Annual Dividend Yield 5.73%

	total	individual payouts
2026	0.45	0.15 0.15 0.15
2025	0.55	0.14 0.14 0.14 0.14
2024	0.55	0.14 0.14 0.14 0.14
2023	0.55	0.14 0.14 0.14 0.14
2022	0.69	0.14 0.14 0.14 0.14 0.14
2021	0.55	0.14 0.14 0.14 0.14
2020	0.55	0.14 0.14 0.14 0.14
2019	0.50	0.11 0.11 0.14 0.14
2018	0.41	0.10 0.10 0.10 0.11
2017	0.30	0.08 0.08 0.08 0.08
2016	0.25	0.04 0.04 0.04 0.04 0.10

special payouts not included in total or ratios

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%

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	16.13	13.88	9.69	9.00	5.69	8.20	8.11	6.33	6.38	8.43	Analyst estimates 2026–2028 Powerpack
	High	26.33	21.60	20.00	12.78	11.15	12.50	11.37	10.15	13.88	13.54
People
People	Employees	22	23	23	21	21	20	19	17	18	18
	Revenue/emp, $m	2.34	2.30	2.37	2.03	1.59	1.64	1.56	1.41	1.65	1.97
Income, $m
Income, $m	Revenue	51	53	55	43	33	33	30	24	30	36
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	23	23	23	15	11	11	8	7	10	14
	EBT margin, %	43.88	43.90	42.85	35.76	32.83	33.21	26.78	27.48	32.73	38.33
	Net income	14	15	21	11	8	8	6	5	7	10
	Depreciation	0	0	0	0	0	0	0	1	1	1
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
	Earnings	1.86	1.94	2.64	1.42	1.07	1.07	0.83	0.63	0.92	1.28
	Cash flow	2.39	2.58	2.76	1.86	1.44	1.41	1.16	0.94	1.21	1.77
	Capex	(0.02)	(0.02)	(0.05)	(0.03)	(0.02)	(0.03)	(0.03)	(0.03)	(0.04)	(0.06)
	Free cash flow	2.37	2.56	2.71	1.83	1.42	1.38	1.13	0.91	1.17	1.71
	Book value	4.91	6.70	9.09	9.74	10.63	11.30	11.53	11.58	11.89	12.55
	Shares, m	8	8	8	8	7	7	7	8	8	8
Valuation, ×
Valuation, ×	P/E	12.72	8.07	5.25	7.61	7.82	9.08	10.57	10.97	10.82	8.29
	P/S	3.50	2.24	1.97	1.96	1.83	2.16	2.19	2.15	2.58	2.29
	P/B	4.82	2.30	1.51	1.11	0.78	0.85	0.75	0.59	0.84	0.83
	EV/Sales	4.01	2.44	1.90	1.81	1.66	1.83	1.67	1.44	1.90	1.49
	EV/FCF	12.05	6.56	4.90	5.45	5.30	5.92	5.87	4.99	6.28	3.98
Cash, $m
Cash, $m	Operating cash flow	18	20	22	14	11	10	9	7	9	14
	Capex	0	0	0	0	0	0	0	0	0	0
	Free cash flow	18	20	21	14	10	10	8	7	9	13
Balance, $m
Balance, $m	Working capital	(1)	10	19	18	8	14	57	60	63	71
	Total debt	30	26	22	18	0	1	39	39	39	40
	Net debt	27	10	(4)	(7)	(10)	(15)	(20)	(21)	(24)	(33)
	Shareholders’ equity	37	52	71	76	78	83	86	88	91	98
Returns, %
Returns, %	ROA	18.18	16.40	19.94	10.04	7.65	8.03	5.04	3.30	4.77	6.37
	ROIC	23.24	24.78	22.73	14.53	10.37	9.99	9.22	5.96	8.29	12.62
	ROE	47.55	33.63	33.65	15.06	10.20	9.79	7.30	5.48	7.93	10.54

Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ZSTK ZeroStack Corp.	$92.1M	— (loss-making)	— (loss-making)	+40.67% (above 0%: growing)	n/m	+146.50% (above 0%: growing)	11.85%	(177.43%)	Compare
PFX PhenixFIN Corporation	$85.5M	18.3×	— (loss-making)	+4.77% (above 0%: growing)	n/m	+89.91% (above 0%: growing)	100.00%	68.13%	Compare
BCIC BCP Investment Corporation	$82.6M	— (loss-making)	25.8×	+20.07% (above 0%: growing)	n/m	+99.89% (above 0%: growing)	100.00%	37.20%	Compare
HNNA Hennessy Advisors, Inc.	$82.5M	9.9×	10.6×	+4.17% (above 0%: growing)	−3.85% (below 0%: shrinking)	−6.00% (below 0%: shrinking)	100.00%	34.72%
GECC Great Elm Capital Group, Inc.	$69.7M	— (loss-making)	6.6×	−23.68% (below 0%: shrinking)	−54.90% (below 0%: shrinking)	+35.66% (above 0%: growing)	100.00%	69.32%	Compare
AFCG Advanced Flower Capital Inc.	$69.7M	— (loss-making)	3.1×	+40.12% (above 0%: growing)	n/m	−452.40% (below 0%: shrinking)	100.00%	64.59%	Compare
GEG Great Elm Group, Inc.	$67.1M	— (loss-making)	— (loss-making)	+88.28% (above 0%: growing)	−92.16% (below 0%: shrinking)	+265.21% (above 0%: growing)	(96.60%)	(19.71%)	Compare
PDCC Pearl Diver Credit Company Inc.	$66.1M	— (loss-making)	—	—	n/m	—	—	—	Compare
AVAT Avalanche Treasury Corporation	$58.2M	—	—	—	n/m	—	100.00%	(3,421.79%)	Compare
Median of peers	$69.7M	—	6.6×	+30.10%	—	+94.90%	100.00%	37.20%

All 120 Asset Management stocks →

Hennessy Advisors, Inc. (HNNA) key facts

Strength: Hennessy Advisors, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $35.5 million, up 19.9% from fiscal 2024.
Strength: Net income was $10.0 million, or $1.28 per share (basic), a net margin of 28.0%.
Hennessy Advisors, Inc. (HNNA) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, HNNA traded at $10.25, a market capitalization of $82.5 million.
At that price the stock trades at 9.9× trailing-twelve-month earnings and 2.4× sales; its P/E is higher than 58% of its own readings over the past ten years.
Hennessy Advisors, Inc. pays an annual dividend of $0.59 per share, a yield of 5.73%, with a payout ratio of 56.5%.
Return on equity was 10.5% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.