Hennessy Advisors, Inc. (HNNA) vs Innventure, Inc. (INV)

Hennessy Advisors, Inc. and Innventure, Inc. are both Asset Management companies. Hennessy Advisors, Inc. is the larger, with a market value of $80.6M against $68.4M — 1.2× the size. Innventure, Inc. has negative trailing earnings, so its P/E is not meaningful; Hennessy Advisors, Inc. trades at 9.8×. Innventure, Inc. grew revenue faster over the last twelve months: 154.7% against −6.90%. Hennessy Advisors, Inc. has the higher net margin (24.8% vs −3,022.4%) and the higher return on invested capital (10.6% vs −16.6%). Across the 18 metrics below, Hennessy Advisors, Inc. leads on 16 and Innventure, Inc. on 2.

Valuation

Metric HNNA INV Asset Management median
P/E 9.79 n/m 14.62
P/S 2.41 16.17 2.97
P/B 0.80 0.13 0.94
Price to free cash flow 7.90 n/m 8.93
EV/EBITDA 7.11 n/m 10.32
EV/Sales 2.55 7.48 5.72
Earnings yield 10.22% (210.96%) 4.53%
Free cash flow yield 12.65% (172.98%) 4.65%

Profitability

Metric HNNA INV Asset Management median
Gross margin 100.00% (595.92%) 100.00%
Operating margin 33.42% (3,190.62%) 33.03%
Net margin 24.78% (3,022.41%) 13.53%
Free cash flow margin 30.53% (2,797.28%) 12.44%
Return on equity 8.36% (24.95%) 4.83%
Return on assets 5.88% (20.06%) 1.57%
Return on invested capital 10.59% (16.62%) 3.04%

Growth

Metric HNNA INV Asset Management median
Revenue growth (TTM) (6.90%) 154.72% 6.97%
EPS growth (last fiscal year) 38.04% (141.01%) —
Revenue growth, 5-year CAGR 1.26% — 12.13%
Net income growth, 5-year CAGR 4.90% 0.00% 0.00%

Health

Metric HNNA INV Asset Management median
Debt to equity 0.00 0.03 0.42
Current ratio 9.39 1.20 1.28
Net debt to EBITDA (2.37) 0.10 1.06

Dividend

Metric HNNA INV Asset Management median
Dividend yield 8.33% — 6.92%
Payout ratio 0.86 0.00 0.77

Size

Metric HNNA INV Asset Management median
Market cap 80.55m 68.44m 721.34m

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