Hennessy Advisor Financials

HNNA

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE September

This page shows Hennessy Advisor (HNNA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Key Financial Metrics

Revenue

$35.5M

YoY+19.9%

5Y CAGR+1.3%

10Y CAGR-2.3%

Hennessy Advisor generated $35.5M in revenue in fiscal year 2025. This represents an increase of 19.9% from the prior year.

EBITDA

$13.4M

YoY+47.5%

5Y CAGR+3.1%

10Y CAGR-3.9%

Hennessy Advisor's EBITDA was $13.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 47.5% from the prior year.

Free Cash Flow

$13.4M

YoY+49.0%

5Y CAGR+5.0%

10Y CAGR-0.6%

Hennessy Advisor generated $13.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 49.0% from the prior year.

Net Income

$10.0M

YoY+40.3%

5Y CAGR+4.9%

10Y CAGR-1.3%

Hennessy Advisor reported $10.0M in net income in fiscal year 2025. This represents an increase of 40.3% from the prior year.

EPS (Diluted)

$1.27

YoY+38.0%

5Y CAGR+3.7%

10Y CAGR+0.0%

Hennessy Advisor earned $1.27 per diluted share (EPS) in fiscal year 2025. This represents an increase of 38.0% from the prior year.

Cash & Debt

$72.4M

YoY+13.3%

5Y CAGR+48.7%

10Y CAGR+37.1%

Hennessy Advisor held $72.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.55

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR+13.9%

Hennessy Advisor paid $0.55 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

YoY+1.4%

5Y CAGR+1.4%

10Y CAGR+4.6%

Hennessy Advisor had 8M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.

Gross Margin

N/A

Operating Margin

37.0%

YoY+7.1pp

5Y CAGR+3.1pp

10Y CAGR-7.3pp

Hennessy Advisor's operating margin was 37.0% in fiscal year 2025, reflecting core business profitability. This is up 7.1 percentage points from the prior year.

Net Margin

28.0%

YoY+4.1pp

5Y CAGR+4.5pp

10Y CAGR+2.6pp

Hennessy Advisor's net profit margin was 28.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.1 percentage points from the prior year.

Return on Equity

10.2%

YoY+2.4pp

5Y CAGR+0.2pp

10Y CAGR-39.1pp

Hennessy Advisor's ROE was 10.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$440K

YoY+40.6%

5Y CAGR+20.7%

10Y CAGR+5.5%

Hennessy Advisor invested $440K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 40.6% from the prior year.

HNNA Income Statement

Metric	FY25	FY25	FY24	FY23	FY22	FY21
Revenue	$35.5M+19.9%	$29.6M+23.4%	$24.0M-19.0%	$29.7M-9.4%	$32.8M-1.9%	$33.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$6.3M-2.8%	$6.5M+18.3%	$5.5M+8.8%	$5.0M+5.9%	$4.8M-4.2%	$5.0M
Operating Income	$13.1M+48.2%	$8.9M+40.0%	$6.3M-35.6%	$9.8M-9.6%	$10.9M-3.9%	$11.3M
Interest Expense	$2.3M+0.8%	$2.3M+0.8%	$2.3M+6.3%	$2.1M	$0-100.0%	$447K
Income Tax	$3.7M+40.4%	$2.6M+42.5%	$1.8M+4.2%	$1.8M-41.1%	$3.0M-4.5%	$3.1M
Net Income	$10.0M+40.3%	$7.1M+48.8%	$4.8M-22.9%	$6.2M-21.7%	$7.9M+0.8%	$7.8M
EPS (Diluted)	$1.27+38.0%	$0.92+46.0%	$0.63-23.2%	$0.82-23.4%	$1.07+0.9%	$1.06

Metric	Q1'26	Q1'26	Q3'24	Q2'24	Q1'26	Q3'25	Q3'24	Q2'24
Revenue	$8.3M	N/A	$8.1M-13.2%	$9.3M-4.4%	$9.7M	N/A	$7.8M+12.2%	$6.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M	N/A	$1.4M-20.3%	$1.8M+8.8%	$1.7M	N/A	$1.6M+6.4%	$1.5M
Operating Income	$2.6M	N/A	$2.8M-17.4%	$3.5M-9.9%	$3.8M	N/A	$2.6M+34.7%	$1.9M
Interest Expense	$576K	N/A	$574K+0.3%	$572K0.0%	$572K	N/A	$569K+0.2%	$568K
Income Tax	$749K	N/A	$840K-13.7%	$973K-14.1%	$1.1M	N/A	$759K+30.4%	$582K
Net Income	$1.9M	N/A	$2.1M-17.9%	$2.6M-8.9%	$2.8M	N/A	$2.0M+31.8%	$1.5M
EPS (Diluted)	$0.24	N/A	$0.26-21.2%	$0.33-8.3%	$0.36	N/A	$0.26+30.0%	$0.20

HNNA Balance Sheet

Metric	FY25	FY25	FY24	FY23	FY22	FY21
Total Assets	$160.5M+5.5%	$152.1M+4.4%	$145.7M+1.4%	$143.7M+41.0%	$101.9M+7.5%	$94.8M
Current Assets	$76.5M+12.1%	$68.3M+7.2%	$63.7M+3.3%	$61.7M+212.9%	$19.7M+47.3%	$13.4M
Cash & Equivalents	$72.4M+13.3%	$63.9M+5.7%	$60.5M+3.4%	$58.5M+269.3%	$15.8M+59.1%	$10.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$2.1M-26.6%	$2.8M+16.3%	$2.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$62.7M+3.2%	$60.8M+4.9%	$58.0M+1.1%	$57.4M+207.6%	$18.6M+12.3%	$16.6M
Current Liabilities	$6.0M+21.4%	$5.0M+18.2%	$4.2M-11.1%	$4.7M-15.2%	$5.6M+9.2%	$5.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$97.7M+7.0%	$91.3M+4.1%	$87.8M+1.7%	$86.3M+3.6%	$83.3M+6.5%	$78.2M
Retained Earnings	$74.3M+8.1%	$68.7M+4.2%	$66.0M+0.9%	$65.3M+3.2%	$63.3M+6.4%	$59.5M

Metric	Q1'26	Q1'26	Q3'24	Q2'24	Q1'26	Q3'25	Q3'24	Q2'24
Total Assets	$159.6M-0.6%	$160.5M+1.6%	$158.0M+1.6%	$155.5M+1.5%	$153.3M+0.8%	$152.1M+1.8%	$149.5M+1.4%	$147.3M
Current Assets	$76.0M-0.7%	$76.5M+3.1%	$74.2M+3.4%	$71.8M+3.3%	$69.5M+1.8%	$68.3M+4.1%	$65.6M+3.4%	$63.4M
Cash & Equivalents	$72.0M-0.6%	$72.4M+3.0%	$70.3M+4.1%	$67.6M+4.0%	$65.0M+1.7%	$63.9M+3.1%	$62.0M+4.1%	$59.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$60.6M-3.3%	$62.7M+2.1%	$61.5M+1.9%	$60.3M+0.7%	$59.9M-1.5%	$60.8M+2.5%	$59.3M+1.5%	$58.4M
Current Liabilities	$43.6M+624.4%	$6.0M+26.2%	$4.8M+18.0%	$4.0M+6.2%	$3.8M-23.3%	$5.0M+31.3%	$3.8M+19.1%	$3.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$98.9M+1.2%	$97.7M+1.2%	$96.5M+1.4%	$95.2M+1.9%	$93.4M+2.3%	$91.3M+1.3%	$90.2M+1.4%	$88.9M
Retained Earnings	$75.1M+1.1%	$74.3M+1.7%	$73.0M+1.5%	$72.0M+2.1%	$70.5M+2.6%	$68.7M+1.7%	$67.6M+1.5%	$66.6M

HNNA Cash Flow Statement

Metric	FY25	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$13.8M+48.7%	$9.3M+30.0%	$7.1M-17.7%	$8.7M-16.6%	$10.4M-2.2%	$10.6M
Capital Expenditures	$440K+40.6%	$313K+45.6%	$215K-0.5%	$216K-13.3%	$249K+44.8%	$172K
Free Cash Flow	$13.4M+49.0%	$9.0M+29.6%	$6.9M-18.1%	$8.4M-16.7%	$10.1M-3.0%	$10.5M
Investing Cash Flow	-$627K+51.9%	-$1.3M-59.1%	-$819K-254.5%	-$231K+7.2%	-$249K+71.8%	-$882K
Financing Cash Flow	-$4.7M-2.8%	-$4.5M-4.7%	-$4.3M-112.6%	$34.2M+904.0%	-$4.3M+82.6%	-$24.5M
Dividends Paid	$4.2M+1.3%	$4.2M+1.2%	$4.1M+1.6%	$4.0M+1.7%	$4.0M+0.1%	$4.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$2.7M

Metric	Q1'26	Q1'26	Q3'24	Q2'24	Q1'26	Q3'25	Q3'24	Q2'24
Operating Cash Flow	$661K	N/A	N/A	N/A	$2.2M	N/A	N/A	N/A
Capital Expenditures	$60K	N/A	N/A	N/A	$117K	N/A	N/A	N/A
Free Cash Flow	$601K	N/A	N/A	N/A	$2.1M	N/A	N/A	N/A
Investing Cash Flow	-$60K	N/A	N/A	N/A	-$127K	N/A	N/A	N/A
Financing Cash Flow	-$1.1M	N/A	N/A	N/A	-$1.1M	N/A	N/A	N/A
Dividends Paid	$1.1M	N/A	N/A	N/A	$1.1M	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HNNA Financial Ratios

Metric	FY25	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	37.0%+7.1pp	29.9%+3.5pp	26.4%-6.8pp	33.2%-0.1pp	33.2%-0.7pp	33.9%
Net Margin	28.0%+4.1pp	23.9%+4.1pp	19.9%-1.0pp	20.9%-3.3pp	24.1%+0.6pp	23.5%
Return on Equity	10.2%+2.4pp	7.8%+2.3pp	5.4%-1.7pp	7.2%-2.3pp	9.5%-0.5pp	10.0%
Return on Assets	6.2%+1.5pp	4.7%+1.4pp	3.3%-1.0pp	4.3%-3.4pp	7.8%-0.5pp	8.3%
Current Ratio	12.72-1.1	13.78-1.4	15.20+2.1	13.07+9.5	3.54+0.9	2.63
Debt-to-Equity	0.64-0.0	0.670.0	0.660.0	0.66+0.4	0.22+0.0	0.21
FCF Margin	37.6%+7.3pp	30.2%+1.4pp	28.8%+0.3pp	28.5%-2.5pp	30.9%-0.4pp	31.3%

Metric	Q1'26	Q1'26	Q3'24	Q2'24	Q1'26	Q3'25	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	31.3%	N/A	35.4%-1.8pp	37.2%-2.3pp	39.5%	N/A	33.2%+5.6pp	27.7%
Net Margin	23.2%	N/A	26.3%-1.5pp	27.9%-1.3pp	29.2%	N/A	26.1%+3.9pp	22.2%
Return on Equity	1.9%	N/A	2.2%-0.5pp	2.7%-0.3pp	3.0%	N/A	2.3%+0.5pp	1.7%
Return on Assets	1.2%	N/A	1.3%-0.3pp	1.7%-0.2pp	1.8%	N/A	1.4%+0.3pp	1.1%
Current Ratio	1.75-11.0	12.72-2.9	15.58-2.2	17.79-0.5	18.29+4.5	13.78-3.6	17.39-2.6	20.01
Debt-to-Equity	0.61-0.0	0.640.0	0.640.0	0.630.0	0.64-0.0	0.670.0	0.660.0	0.66
FCF Margin	7.2%	N/A	N/A	N/A	21.8%	N/A	N/A	N/A

Financial Health Signals

Altman Z-Score Grey Zone

2.42

Bankruptcy risk indicator. Above 2.99 = safe, below 1.81 = distress.

Piotroski F-Score Neutral

5/9

Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.

Earnings Quality Cash-Backed

1.38x

Operating cash flow vs net income. Above 1.0x = cash-backed earnings.

Interest Coverage Safe

5.7x

Operating income vs interest expense. Above 5x = safe, below 2x = risky.

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Frequently Asked Questions

What is Hennessy Advisor's annual revenue?

Hennessy Advisor (HNNA) reported $35.5M in total revenue for fiscal year 2025. This represents a 19.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Hennessy Advisor's revenue growing?

Hennessy Advisor (HNNA) revenue grew by 19.9% year-over-year, from $29.6M to $35.5M in fiscal year 2025.

Is Hennessy Advisor profitable?

Yes, Hennessy Advisor (HNNA) reported a net income of $10.0M in fiscal year 2025, with a net profit margin of 28.0%.

What is Hennessy Advisor's earnings per share (EPS)?

Hennessy Advisor (HNNA) reported diluted earnings per share of $1.27 for fiscal year 2025. This represents a 38.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Hennessy Advisor's EBITDA?

Hennessy Advisor (HNNA) had EBITDA of $13.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Hennessy Advisor's operating margin?

Hennessy Advisor (HNNA) had an operating margin of 37.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Hennessy Advisor's net profit margin?

Hennessy Advisor (HNNA) had a net profit margin of 28.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Hennessy Advisor pay dividends?

Yes, Hennessy Advisor (HNNA) paid $0.55 per share in dividends during fiscal year 2025.

What is Hennessy Advisor's return on equity (ROE)?

Hennessy Advisor (HNNA) has a return on equity of 10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Hennessy Advisor's free cash flow?

Hennessy Advisor (HNNA) generated $13.4M in free cash flow during fiscal year 2025. This represents a 49.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Hennessy Advisor's operating cash flow?

Hennessy Advisor (HNNA) generated $13.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Hennessy Advisor's total assets?

Hennessy Advisor (HNNA) had $160.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Hennessy Advisor's capital expenditures?

Hennessy Advisor (HNNA) invested $440K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Hennessy Advisor have outstanding?

Hennessy Advisor (HNNA) had 8M shares outstanding as of fiscal year 2025.

What is Hennessy Advisor's current ratio?

Hennessy Advisor (HNNA) had a current ratio of 12.72 as of fiscal year 2025, which is generally considered healthy.

What is Hennessy Advisor's debt-to-equity ratio?

Hennessy Advisor (HNNA) had a debt-to-equity ratio of 0.64 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Hennessy Advisor's return on assets (ROA)?

Hennessy Advisor (HNNA) had a return on assets of 6.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Hennessy Advisor's Altman Z-Score?

Hennessy Advisor (HNNA) has an Altman Z-Score of 2.42, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress.

What is Hennessy Advisor's Piotroski F-Score?

Hennessy Advisor (HNNA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.

Are Hennessy Advisor's earnings high quality?

Hennessy Advisor (HNNA) has an earnings quality ratio of 1.38x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.

Can Hennessy Advisor cover its interest payments?

Hennessy Advisor (HNNA) has an interest coverage ratio of 5.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.