Hennessy Advisor Financials
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).
An asset-light model let revenue recovery in FY2025 translate into unusually strong cash retention and margin expansion.
After the FY2023 trough, FY2025 showed a clean rebound: operating margin returned to37.0% while free-cash-flow margin reached37.6% , so the earnings recovery was also arriving as cash. Because capex was only$440K against$13.4M of free cash flow, the business appears light on reinvestment needs rather than one that must plow most gains back into the operation.
Cash finished FY2025 at
Between FY2024 and FY2025, revenue added nearly
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Hennessy Advisor's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hennessy Advisor has an operating margin of 37.0%, meaning the company retains $37 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is up from 29.9% the prior year.
Hennessy Advisor's revenue surged 19.9% year-over-year to $35.5M, reflecting rapid business expansion. This strong growth earns a score of 69/100.
Hennessy Advisor carries a low D/E ratio of 0.64, meaning only $0.64 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 12.72, Hennessy Advisor holds $12.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Hennessy Advisor converts 37.6% of revenue into free cash flow ($13.4M). This strong cash generation earns a score of 100/100.
Hennessy Advisor's ROE of 10.2% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 7.8% the prior year.
Hennessy Advisor scores 2.43, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Hennessy Advisor passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Hennessy Advisor generates $1.38 in operating cash flow ($13.8M OCF vs $10.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Hennessy Advisor earns $5.7 in operating income for every $1 of interest expense ($13.1M vs $2.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Hennessy Advisor generated $35.5M in revenue in fiscal year 2025. This represents an increase of 19.9% from the prior year.
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.
Hennessy Advisor reported $10.0M in net income in fiscal year 2025. This represents an increase of 40.3% from the prior year.
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 & Balance Sheet
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.
Hennessy Advisor held $72.4M in cash against $0 in long-term debt as of fiscal year 2025.
Hennessy Advisor paid $0.55 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Hennessy Advisor had 8M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Margins & Returns
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.
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.
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.
Capital Allocation
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 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.1M-2.2% | $8.3M-2.1% | $8.5M+5.5% | $8.1M-13.2% | $9.3M-4.4% | $9.7M+10.6% | $8.8M+12.8% | $7.8M |
| 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 | $1.6M-14.5% | $1.9M+35.2% | $1.4M-1.2% | $1.4M-20.3% | $1.8M+8.8% | $1.7M-4.9% | $1.7M+11.7% | $1.6M |
| Operating Income | $2.6M+0.2% | $2.6M-13.6% | $3.0M+5.8% | $2.8M-17.4% | $3.5M-9.9% | $3.8M+30.4% | $2.9M+13.7% | $2.6M |
| Interest Expense | $578K+0.3% | $576K+0.2% | $575K+0.2% | $574K+0.3% | $572K0.0% | $572K+0.2% | $571K+0.4% | $569K |
| Income Tax | $736K-1.7% | $749K+4.9% | $714K-15.0% | $840K-13.7% | $973K-14.1% | $1.1M+37.8% | $822K+8.3% | $759K |
| Net Income | $1.9M-1.0% | $1.9M-20.3% | $2.4M+14.2% | $2.1M-17.9% | $2.6M-8.9% | $2.8M+21.7% | $2.3M+14.7% | $2.0M |
| EPS (Diluted) | $0.240.0% | $0.24 | N/A | $0.26-21.2% | $0.33-8.3% | $0.36 | N/A | $0.26 |
HNNA Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $160.5M+0.6% | $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 |
| Current Assets | $77.1M+1.4% | $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 |
| Cash & Equivalents | $73.1M+1.5% | $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 |
| 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 | $60.5M-0.2% | $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 |
| Current Liabilities | $43.4M-0.5% | $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 |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $100.0M+1.1% | $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 |
| Retained Earnings | $75.8M+1.0% | $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 |
HNNA Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.3M+249.3% | $661K-82.6% | $3.8M-5.5% | $4.0M+7.2% | $3.7M+67.6% | $2.2M-35.0% | $3.4M-3.3% | $3.6M |
| Capital Expenditures | $66K+10.0% | $60K-65.7% | $175K+161.2% | $67K-17.3% | $81K-30.8% | $117K+17.0% | $100K+3.1% | $97K |
| Free Cash Flow | $2.2M+273.2% | $601K-83.4% | $3.6M-8.3% | $3.9M+7.8% | $3.7M+73.1% | $2.1M-36.5% | $3.3M-3.4% | $3.5M |
| Investing Cash Flow | -$66K-10.0% | -$60K+65.9% | -$176K+16.2% | -$210K-84.2% | -$114K+10.2% | -$127K-27.0% | -$100K-7.5% | -$93K |
| Financing Cash Flow | -$1.2M-8.5% | -$1.1M+29.4% | -$1.5M-43.9% | -$1.0M-0.1% | -$1.0M+0.2% | -$1.1M+26.6% | -$1.4M-38.3% | -$1.0M |
| Dividends Paid | $1.2M+9.1% | $1.1M+1.4% | $1.1M0.0% | $1.1M+0.1% | $1.1M-0.2% | $1.1M+1.3% | $1.0M+0.2% | $1.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HNNA Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 32.1%+0.8pp | 31.3%-4.2pp | 35.5%+0.1pp | 35.4%-1.8pp | 37.2%-2.3pp | 39.5%+6.0pp | 33.5%+0.3pp | 33.2% |
| Net Margin | 23.5%+0.3pp | 23.2%-5.3pp | 28.5%+2.2pp | 26.3%-1.5pp | 27.9%-1.3pp | 29.2%+2.7pp | 26.5%+0.5pp | 26.1% |
| Return on Equity | 1.9%-0.0pp | 1.9%-0.5pp | 2.5%+0.3pp | 2.2%-0.5pp | 2.7%-0.3pp | 3.0%+0.5pp | 2.5%+0.3pp | 2.3% |
| Return on Assets | 1.2%-0.0pp | 1.2%-0.3pp | 1.5%+0.2pp | 1.3%-0.3pp | 1.7%-0.2pp | 1.8%+0.3pp | 1.5%+0.2pp | 1.4% |
| Current Ratio | 1.78+0.0 | 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 |
| Debt-to-Equity | 0.610.0 | 0.61-0.0 | 0.640.0 | 0.640.0 | 0.630.0 | 0.64-0.0 | 0.670.0 | 0.66 |
| FCF Margin | 27.6%+20.4pp | 7.2%-35.4pp | 42.6%-6.4pp | 49.0%+9.5pp | 39.5%+17.7pp | 21.8%-16.2pp | 38.0%-6.4pp | 44.4% |
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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 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.
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 2.43, 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. Learn more in our complete guide to financial health indicators.
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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
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. Learn more in our complete guide to financial health indicators.
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. Learn more in our complete guide to financial health indicators.
How financially healthy is Hennessy Advisor?
Hennessy Advisor (HNNA) scores 81 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.