What is Hennessy Advisors, Inc.'s earnings per share (EPS)?

Hennessy Advisors, Inc. (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.

Hennessy Advisors (HNNA) Financials

HNNA NASDAQ

Trailing 12 months to June 30, 2026

Revenue $33.3M -6.9% YoY

Net Income $8.3M -16.3% YoY

EPS (Diluted) $1.05 -16.0% YoY

Free Cash Flow $10.2M -22.1% YoY

Market Cap $80.5M as of Oct 28, 2026

Price / Sales 2.4x on $33.3M revenue, trailing 12 months to June 30, 2026

Price / Earnings 9.8x on $8.3M net income, trailing 12 months to June 30, 2026

Price / Book 0.8x on $101.1M equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 28, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE September

Newest figures come from the 10-Q for Q3 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HNNA SEC filings page.

Hennessy Advisors, Inc. (HNNA) reported $33.3M in revenue over the twelve months to Jun 30, 2026, down 6.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI HNNA FY2025 2026-10-22

Hennessy Advisors’ recent rebound converts revenue growth into disproportionately faster profit and cash generation while requiring little physical reinvestment.

From FY2023 to FY2025, revenue increased 48.0% while operating income increased 107.5%, showing the recovery reached profit disproportionately. Operating margin widened 10.6 percentage points while SG&A rose only 15.0%, pointing to operating leverage from costs growing slower than revenue.

FY2025 operating cash flow was $13.8M against net income of $10.0M, so cash conversion did not lag accounting profit. Capital expenditures were only $440K, or 1.2% of revenue, indicating low capital intensity rather than dependence on heavy physical reinvestment.

The balance sheet remains liability-light: liabilities were 39.1% of assets and the current ratio was 12.7x in FY2025, providing substantial short-term coverage. Current liabilities grew 21.4% from FY2024 while total liabilities grew just 3.2%, indicating the latest balance-sheet expansion was concentrated in short-term obligations.

Financial Health Signals

Financial Health Score 81/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Hennessy Advisors, Inc.'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.

Profitability

Hennessy Advisors, Inc. 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 91/100, reflecting efficient cost management and pricing power. This is up from 29.9% the prior year.

Growth

Hennessy Advisors, Inc.'s revenue surged 19.9% year-over-year to $35.5M, reflecting rapid business expansion. This strong growth earns a score of 83/100.

Leverage

Liquidity

With a current ratio of 12.72, Hennessy Advisors, Inc. holds $12.72 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.

Cash Flow

Hennessy Advisors, Inc. converts 37.6% of revenue into free cash flow ($13.4M). This strong cash generation earns a score of 96/100.

Returns

Hennessy Advisors, Inc.'s ROE of 10.2% shows moderate profitability relative to equity, earning a score of 62/100. This is up from 7.8% the prior year.

Altman Z-Score Grey Zone

2.44

Hennessy Advisors, Inc. scores 2.44, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $80.5M against total liabilities of $62.7M. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/7

Hennessy Advisors, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.

Earnings Quality Cash-Backed

1.38x

For every $1 of reported earnings, Hennessy Advisors, Inc. 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.

Interest Coverage Safe

5.73x

Hennessy Advisors, Inc. earns $5.73 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

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Earnings & Revenue

Revenue

$8.4M

YoY+4.2%

QoQ+3.2%

5Y CAGR-0.3%

10Y CAGR-4.3%

Hennessy Advisors, Inc. generated $8.4M in revenue in Q3 2026. This represents an increase of 4.2% from the same quarter a year earlier. Against the prior quarter it is up 3.2%.

EBITDA

$3.0M

YoY+2.3%

QoQ+10.9%

5Y CAGR-0.7%

10Y CAGR-7.1%

Hennessy Advisors, Inc.'s EBITDA was $3.0M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 10.9%.

Net Income

$2.0M

YoY-5.8%

QoQ+4.7%

5Y CAGR-2.3%

10Y CAGR-6.5%

Hennessy Advisors, Inc. reported $2.0M in net income in Q3 2026. This represents a decrease of 5.8% from the same quarter a year earlier. Against the prior quarter it is up 4.7%.

EPS (Diluted)

$0.25

YoY-3.8%

QoQ+4.2%

5Y CAGR-3.6%

10Y CAGR-6.7%

Hennessy Advisors, Inc. earned $0.25 per diluted share (EPS) in Q3 2026. This represents a decrease of 3.8% from the same quarter a year earlier. Against the prior quarter it is up 4.2%.

Cash & Balance Sheet

Free Cash Flow

$3.7M

YoY-6.0%

QoQ+65.5%

5Y CAGR+0.9%

10Y CAGR-3.8%

Hennessy Advisors, Inc. generated $3.7M in free cash flow in Q3 2026, representing cash available after capex. This represents a decrease of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 65.5%.

Cash & Debt

$35.4M

YoY-49.7%

QoQ-51.6%

5Y CAGR+20.3%

10Y CAGR+12.0%

Hennessy Advisors, Inc. held $35.4M in cash as of Q3 2026; no long-term debt figure is on record for that period.

Dividends Per Share

$0.15

YoY+7.1%

QoQ0.0%

5Y CAGR+1.4%

Hennessy Advisors, Inc. paid $0.15 per share in dividends in Q3 2026. This represents an increase of 7.1% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

YoY+1.5%

QoQ0.0%

5Y CAGR+1.4%

10Y CAGR+4.5%

Hennessy Advisors, Inc. had 8M shares outstanding in Q3 2026. This represents an increase of 1.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Operating Margin

34.7%

YoY-0.7pp

QoQ+2.6pp

5Y change-0.9pp

10Y change-12.5pp

Hennessy Advisors, Inc.'s operating margin was 34.7% in Q3 2026, reflecting core business profitability. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Net Margin

23.8%

YoY-2.5pp

QoQ+0.4pp

5Y change-2.5pp

10Y change-6.1pp

Hennessy Advisors, Inc.'s net profit margin was 23.8% in Q3 2026, showing the share of revenue converted to profit. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Return on Equity

2.0%

YoY-0.2pp

QoQ+0.1pp

5Y change-0.8pp

10Y change-9.5pp

Hennessy Advisors, Inc.'s quarterly ROE was 2.0% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Gross Margin

Not reported for Q3 2026.

Capital Allocation

Capital Expenditures

$30K

YoY-55.2%

QoQ-54.5%

5Y CAGR-9.3%

10Y CAGR+3.6%

Hennessy Advisors, Inc. invested $30K in capex in Q3 2026, funding long-term assets and infrastructure. This represents a decrease of 55.2% from the same quarter a year earlier. Against the prior quarter it is down 54.5%.

R&D Spending

Not reported for Q3 2026.

Share Buybacks

Not reported for Q3 2026.

HNNA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HNNA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$33.3M	$35.5M+19.9%	$29.6M+23.4%	$24.0M-19.0%	$29.7M-9.4%	$32.8M-1.9%	$33.4M-21.8%	$42.7M-21.8%	$54.6M+3.1%	$53.0M+3.0%	$51.4M+14.9%	$44.7M+29.6%	$34.5M+42.0%	$24.3M+243.7%	$7.1M-7.5%	$7.6M
SG&A Expenses	$6.5M	$6.3M-2.8%	$6.5M+18.3%	$5.5M+8.8%	$5.0M+5.9%	$4.8M-4.2%	$5.0M-14.4%	$5.8M-1.2%	$5.9M-0.3%	$5.9M+1.3%	$5.8M+11.2%	$5.2M+19.7%	$4.4M+40.0%	$3.1M+89.8%	$1.6M-12.2%	$1.9M
Operating Income	$11.1M	$13.1M+48.2%	$8.9M+40.0%	$6.3M-35.6%	$9.8M-9.6%	$10.9M-3.9%	$11.3M-29.3%	$16.0M-34.5%	$24.5M-0.1%	$24.5M+3.0%	$23.8M+20.1%	$19.8M+40.1%	$14.1M+58.4%	$8.9M+401.1%	$1.8M-17.0%	$2.1M
EBITDA	N/A	$13.4M+47.5%	$9.1M+38.8%	$6.6M-34.7%	$10.0M-9.6%	$11.1M-3.9%	$11.6M-28.9%	$16.2M-34.2%	$24.7M-0.6%	$24.9M+3.0%	$24.1M+20.2%	$20.1M+39.6%	$14.4M+57.8%	$9.1M+385.7%	$1.9M-16.5%	$2.2M
Interest Expense	$2.5M	$2.3M+0.8%	$2.3M+0.8%	$2.3M+6.3%	$2.1Mn/m	$0-100.0%	$447K-58.8%	$1.1M-11.7%	$1.2M-2.3%	$1.3M+1.9%	$1.2M+21.7%	$1.0M-6.7%	$1.1M+62.4%	$668K+1209.8%	$51K-21.5%	$65K
Income Tax	$3.0M	$3.7M+40.4%	$2.6M+42.5%	$1.8M+4.2%	$1.8M-41.1%	$3.0M-4.5%	$3.1M-26.5%	$4.2M+52.8%	$2.8M-66.6%	$8.3M+1.4%	$8.2M+10.5%	$7.4M+37.4%	$5.4M+61.9%	$3.3M+337.7%	$761K-12.3%	$868K
Net Income	$8.3M	$10.0M+40.3%	$7.1M+48.8%	$4.8M-22.9%	$6.2M-21.7%	$7.9M+0.8%	$7.8M-28.9%	$11.0M-46.5%	$20.6M+38.0%	$14.9M+4.0%	$14.4M+26.1%	$11.4M+48.5%	$7.7M+59.1%	$4.8M+396.4%	$971K-20.1%	$1.2M
EPS (Basic)	N/A	$1.28+39.1%	$0.92+46.0%	$0.63-24.1%	$0.83-22.4%	$1.070.0%	$1.07-24.6%	$1.42-46.2%	$2.64+36.1%	$1.94+2.6%	$1.89+46.5%	$1.29	$1.31+57.8%	$0.83+388.2%	$0.17-19.0%	$0.21
EPS (Diluted)	$1.05	$1.27+38.0%	$0.92+46.0%	$0.63-23.2%	$0.82-23.4%	$1.07+0.9%	$1.06-25.4%	$1.42-45.6%	$2.61+35.9%	$1.92+3.2%	$1.86+46.5%	$1.27	$1.30+56.6%	$0.83+388.2%	$0.17-19.0%	$0.21
Diluted Shares (Avg)	N/A	8M+1.4%	8M+1.6%	8M+0.6%	8M+2.0%	7M+0.4%	7M-5.1%	8M-1.5%	8M+1.3%	8M+0.9%	8M-13.7%	9M	6M+1.5%	6M+1.0%	6M+0.2%	6M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$8.4M+4.2%	$8.1M-12.3%	$8.3M-14.3%	$8.5M-3.2%	$8.1M+3.5%	$9.3M+33.7%	$9.7M+58.0%	$8.8M+40.3%
SG&A Expenses	$1.6M+10.3%	$1.6M-9.0%	$1.9M+15.8%	$1.4M-18.6%	$1.4M-8.0%	$1.8M+22.9%	$1.7M-4.1%	$1.7M+30.8%
Operating Income	$2.9M+2.2%	$2.6M-24.4%	$2.6M-32.0%	$3.0M+2.6%	$2.8M+10.2%	$3.5M+79.8%	$3.8M+168.8%	$2.9M+67.4%
EBITDA	$3.0M+2.3%	$2.7M-23.4%	$2.7M-31.4%	$3.1M+3.5%	$2.9M+10.6%	$3.5M+78.1%	$3.9M+160.4%	$3.0M+64.6%
Interest Expense	$760K+32.4%	$578K+1.0%	$576K+0.7%	$575K+0.7%	$574K+0.9%	$572K+0.7%	$572K+0.9%	$571K+0.9%
Income Tax	$776K-7.6%	$736K-24.4%	$749K-33.9%	$714K-13.1%	$840K+10.7%	$973K+67.2%	$1.1M+155.2%	$822K+34.3%
Net Income	$2.0M-5.8%	$1.9M-26.1%	$1.9M-31.9%	$2.4M+4.0%	$2.1M+4.5%	$2.6M+67.7%	$2.8M+136.2%	$2.3M+73.6%
EPS (Basic)	$0.25-7.4%	$0.25-24.2%	$0.24-33.3%	$0.31+3.3%	$0.27+3.8%	$0.33+65.0%	$0.36+125.0%	$0.30+66.7%
EPS (Diluted)	$0.25-3.8%	$0.24-27.3%	$0.24-33.3%	$0.32+6.7%	$0.260.0%	$0.33+65.0%	$0.36+125.0%	$0.30+66.7%
Diluted Shares (Avg)	8M+1.0%	8M+1.1%	8M+1.3%	N/A	8M+3.0%	8M+2.8%	8M+2.5%	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

HNNA Balance Sheet

HNNA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$160.5M+5.5%	$152.1M+4.4%	$145.7M+1.4%	$143.7M+41.0%	$101.9M+7.5%	$94.8M-14.0%	$110.2M+0.7%	$109.5M+12.6%	$97.3M+14.5%	$84.9M+16.1%	$73.1M-2.9%	$75.3M+0.8%	$74.7M+127.1%	$32.9M+2.4%	$32.1M
Current Assets	$76.5M+12.1%	$68.3M+7.2%	$63.7M+3.3%	$61.7M+212.9%	$19.7M+47.3%	$13.4M-53.9%	$29.0M-5.6%	$30.7M+38.3%	$22.2M+119.3%	$10.1M+7.7%	$9.4M-22.7%	$12.2M+4.3%	$11.7M+19.8%	$9.7M+4.4%	$9.3M
Cash & Equivalents	$72.4M+13.3%	$63.9M+5.7%	$60.5M+3.4%	$58.5M+269.3%	$15.8M+59.1%	$10.0M-59.7%	$24.7M-2.8%	$25.4M+61.8%	$15.7M+344.1%	$3.5M+14.5%	$3.1M-59.6%	$7.6M-9.1%	$8.4M-3.7%	$8.7M+4.4%	$8.4M
Short-Term Investments	$12K+9.1%	$11K+10.0%	$10K+11.1%	$9K-10.0%	$10K+11.1%	$9K0.0%	$9K0.0%	$9K+12.5%	$8K0.0%	$8K+14.3%	$7K0.0%	$7K0.0%	$7K+16.7%	$6K0.0%	$6K
Accounts Receivable	N/A	N/A	N/A	$2.1M-26.6%	$2.8M+16.3%	$2.4M-27.0%	$3.3M-22.7%	$4.3M-1.5%	$4.3M+2.2%	$4.2M+4.4%	$4.1M+29.0%	$3.1M+30.8%	$2.4M+273.6%	$643K+17.3%	$548K
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Total Liabilities	$62.7M+3.2%	$60.8M+4.9%	$58.0M+1.1%	$57.4M+207.6%	$18.6M+12.3%	$16.6M-52.1%	$34.7M-9.9%	$38.5M-15.8%	$45.7M-3.9%	$47.6M-4.9%	$50.0M+32.0%	$37.9M-15.7%	$44.9M+485.4%	$7.7M+5.2%	$7.3M
Current Liabilities	$6.0M+21.4%	$5.0M+18.2%	$4.2M-11.1%	$4.7M-15.2%	$5.6M+9.2%	$5.1M-55.2%	$11.4M-5.6%	$12.0M-3.4%	$12.5M+11.0%	$11.2M+9.3%	$10.3M+38.2%	$7.4M-40.4%	$12.5M+575.1%	$1.8M+21.4%	$1.5M
Non-Current Liabilities	$56.7M+1.6%	$55.8M+3.8%	$53.8M+2.2%	$52.6M+302.3%	$13.1M+13.6%	$11.5M-50.6%	$23.3M-11.9%	$26.5M-20.5%	$33.3M-8.6%	$36.4M-8.5%	$39.8M+30.5%	$30.5M-6.2%	$32.5M+457.0%	$5.8M+1.0%	$5.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$13.0M-25.4%	$17.5M-19.5%	$21.7M-16.3%	$26.0M-15.2%	$30.6M+33.3%	$23.0M+52.9%	$15.0M+1054.1%	$1.3M-32.4%	$1.9M
Total Equity	$97.7M+7.0%	$91.3M+4.1%	$87.8M+1.7%	$86.3M+3.6%	$83.3M+6.5%	$78.2M+3.5%	$75.5M+6.4%	$71.0M+37.7%	$51.5M+38.0%	$37.3M+61.6%	$23.1M-38.3%	$37.4M+25.6%	$29.8M+18.1%	$25.2M+1.5%	$24.8M
Retained Earnings	$74.3M+8.1%	$68.7M+4.2%	$66.0M+0.9%	$65.3M+3.2%	$63.3M+6.4%	$59.5M+2.8%	$57.9M+6.7%	$54.2M+48.1%	$36.6M+52.1%	$24.1M+110.2%	$11.4M-56.9%	$26.6M+33.9%	$19.8M+26.0%	$15.7M+1.8%	$15.5M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$122.8M-22.3%	$160.5M+3.2%	$159.6M+4.1%	$160.5M+5.5%	$158.0M+5.7%	$155.5M+5.6%	$153.3M+5.7%	$152.1M+4.4%
Current Assets	$39.5M-46.8%	$77.1M+7.4%	$76.0M+9.4%	$76.5M+12.1%	$74.2M+13.1%	$71.8M+13.1%	$69.5M+10.5%	$68.3M+7.2%
Cash & Equivalents	$35.4M-49.7%	$73.1M+8.1%	$72.0M+10.8%	$72.4M+13.3%	$70.3M+13.4%	$67.6M+13.4%	$65.0M+9.0%	$63.9M+5.7%
Short-Term Investments	$13K+18.2%	$13K+18.2%	$12K+9.1%	$12K+9.1%	$11K0.0%	$11K0.0%	$11K0.0%	$11K+10.0%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Total Liabilities	$21.6M-64.8%	$60.5M+0.3%	$60.6M+1.2%	$62.7M+3.2%	$61.5M+3.6%	$60.3M+3.3%	$59.9M+5.4%	$60.8M+4.9%
Current Liabilities	$4.2M-11.7%	$43.4M+974.4%	$43.6M+1046.2%	$6.0M+21.4%	$4.8M+26.2%	$4.0M+27.3%	$3.8M+36.7%	$5.0M+18.2%
Non-Current Liabilities	$17.4M-69.3%	$17.2M-69.5%	$17.1M-69.5%	$56.7M+1.6%	$56.7M+2.1%	$56.3M+1.9%	$56.1M+3.8%	$55.8M+3.8%
Total Equity	$101.1M+4.8%	$100.0M+5.1%	$98.9M+5.9%	$97.7M+7.0%	$96.5M+7.1%	$95.2M+7.1%	$93.4M+5.9%	$91.3M+4.1%
Retained Earnings	$76.6M+4.9%	$75.8M+5.3%	$75.1M+6.6%	$74.3M+8.1%	$73.0M+8.1%	$72.0M+8.1%	$70.5M+6.6%	$68.7M+4.2%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

HNNA Cash Flow Statement

HNNA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$10.5M	$13.8M+48.7%	$9.3M+30.0%	$7.1M-17.7%	$8.7M-16.6%	$10.4M-2.2%	$10.6M-26.2%	$14.4M-33.2%	$21.5M+8.5%	$19.8M+9.1%	$18.2M+25.9%	$14.4M+53.4%	$9.4M+52.9%	$6.2M+202.3%	$2.0M+8.5%	$1.9M
Depreciation & Amortization	N/A	$290K+18.9%	$244K+6.1%	$230K+11.1%	$207K-10.8%	$232K-2.9%	$239K+6.2%	$225K-2.6%	$231K-36.9%	$366K+3.7%	$353K+33.2%	$265K+9.5%	$242K+28.7%	$188K+97.9%	$95K-6.9%	$102K
Stock-Based Compensation	N/A	$1.1M+13.9%	$990K-3.5%	$1.0M-18.1%	$1.3M-12.9%	$1.4M-19.3%	$1.8M-19.4%	$2.2M-8.3%	$2.4M+13.9%	$2.1M+49.6%	$1.4M+104.6%	$692K+242.6%	$202K+2425.0%	$8K-84.6%	$52K-69.6%	$171K
Capital Expenditures	$331K	$440K+40.6%	$313K+45.6%	$215K-0.5%	$216K-13.3%	$249K+44.8%	$172K-15.7%	$204K-43.3%	$360K+104.5%	$176K-4.3%	$184K-28.7%	$258K+84.3%	$140K-44.7%	$253K+150.5%	$101K+94.2%	$52K
Free Cash Flow	$10.2M	$13.4M+49.0%	$9.0M+29.6%	$6.9M-18.1%	$8.4M-16.7%	$10.1M-3.0%	$10.5M-26.3%	$14.2M-33.0%	$21.2M+7.6%	$19.7M+9.3%	$18.0M+26.9%	$14.2M+53.0%	$9.3M+57.0%	$5.9M+205.0%	$1.9M+6.0%	$1.8M
Investing Cash Flow	-$332K	-$627Kn/m	-$1.3Mn/m	-$819Kn/m	-$231Kn/m	-$249Kn/m	-$882Kn/m	-$2.0Mn/m	-$3.9Mn/m	-$445K	N/A	N/A	N/A	-$20.5Mn/m	-$374Kn/m	-$52K
Financing Cash Flow	-$45.1M	-$4.7Mn/m	-$4.5Mn/m	-$4.3M-112.6%	$34.2Mn/m	-$4.3Mn/m	-$24.5Mn/m	-$13.1Mn/m	-$7.9Mn/m	-$7.2M	N/A	N/A	N/A	$14.0Mn/m	-$1.3Mn/m	-$1.5M
Dividends Paid	$4.4M	$4.2M+1.3%	$4.2M+1.2%	$4.1M+1.6%	$4.0M+1.7%	$4.0M+0.1%	$4.0M+12.1%	$3.5M+22.8%	$2.9M+30.5%	$2.2M+47.3%	$1.5M+8.5%	$1.4M+54.0%	$898K+23.2%	$729K+6.4%	$685K-27.5%	$945K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$2.7M-42.9%	$4.8M	N/A	N/A	N/A	$25.1M	N/A	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$3.7M-6.8%	$2.3M-38.3%	$661K-70.4%	$3.8M+10.5%	$4.0M+13.1%	$3.7M+99.9%	$2.2M+437.0%	$3.4M+38.1%
Depreciation & Amortization	$77K+4.1%	$86K+24.6%	$66K+8.2%	$86K+45.8%	$74K+25.4%	$69K+21.1%	$61K-11.6%	$59K-10.6%
Stock-Based Compensation	N/A	N/A	$309K+3.3%	N/A	N/A	N/A	$299K+21.5%	N/A
Capital Expenditures	$30K-55.2%	$66K-18.5%	$60K-48.7%	$175K+75.0%	$67K-30.9%	$81K+15.7%	$117K+154.3%	$100K+92.3%
Free Cash Flow	$3.7M-6.0%	$2.2M-38.8%	$601K-71.6%	$3.6M+8.6%	$3.9M+14.3%	$3.7M+103.2%	$2.1M+472.2%	$3.3M+36.9%
Investing Cash Flow	-$30Kn/m	-$66Kn/m	-$60Kn/m	-$176Kn/m	-$210Kn/m	-$114Kn/m	-$127Kn/m	-$100Kn/m
Financing Cash Flow	-$41.4Mn/m	-$1.2Mn/m	-$1.1Mn/m	-$1.5Mn/m	-$1.0Mn/m	-$1.0Mn/m	-$1.1Mn/m	-$1.4Mn/m
Dividends Paid	$1.2M+11.1%	$1.2M+10.8%	$1.1M+1.3%	$1.1M+1.2%	$1.1M+1.4%	$1.1M+1.2%	$1.1M+1.3%	$1.0M+1.4%

Not reported in any period shown, so not listed: Share Buybacks.

HNNA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

HNNA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	37.0%+7.1pp	29.9%+3.5pp	26.4%-6.8pp	33.2%-0.1pp	33.2%-0.7pp	33.9%-3.6pp	37.5%-7.3pp	44.8%-1.4pp	46.3%0.0pp	46.3%+2.0pp	44.3%+3.3pp	41.0%+4.2pp	36.7%+11.5pp	25.2%-2.9pp	28.1%
Net Margin	28.0%+4.1pp	23.9%+4.1pp	19.9%-1.0pp	20.9%-3.3pp	24.1%+0.6pp	23.5%-2.3pp	25.8%-11.9pp	37.8%+9.5pp	28.2%+0.3pp	28.0%+2.5pp	25.5%+3.3pp	22.2%+2.4pp	19.8%+6.1pp	13.7%-2.2pp	15.9%
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%-4.6pp	14.6%-14.4pp	29.0%0.0pp	29.0%-9.5pp	38.5%-10.8pp	49.3%+28.8pp	20.5%+4.3pp	16.2%+12.3pp	3.9%-1.0pp	4.9%
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%-1.7pp	10.0%-8.8pp	18.8%+3.5pp	15.4%-1.6pp	16.9%+1.3pp	15.6%+5.4pp	10.2%+3.7pp	6.5%+3.5pp	2.9%-0.8pp	3.8%
Current Ratio	12.72-1.1x	13.78-1.4x	15.20+2.1x	13.07+9.5x	3.54+0.9x	2.63+0.1x	2.550.0x	2.55+0.8x	1.78+0.9x	0.900.0x	0.92-0.7x	1.64+0.7x	0.94-4.3x	5.28-0.9x	6.13
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	0.17-0.1x	0.25-0.2x	0.42-0.3x	0.70-0.6x	1.33+0.7x	0.61+0.1x	0.50+0.5x	0.050.0x	0.08
Liabilities-to-Equity	0.640.0x	0.670.0x	0.660.0x	0.66+0.4x	0.220.0x	0.21-0.2x	0.46-0.1x	0.54-0.3x	0.89-0.4x	1.28-0.9x	2.17+1.2x	1.01-0.5x	1.51+1.2x	0.300.0x	0.29
Asset Turnover	0.220.0x	0.190.0x	0.160.0x	0.21-0.1x	0.320.0x	0.350.0x	0.39-0.1x	0.500.0x	0.54-0.1x	0.610.0x	0.61+0.2x	0.46+0.1x	0.33+0.1x	0.210.0x	0.24
FCF Margin	37.6%+7.3pp	30.2%+1.4pp	28.8%+0.3pp	28.5%-2.5pp	30.9%-0.4pp	31.3%-1.9pp	33.2%-5.6pp	38.8%+1.6pp	37.1%+2.1pp	35.0%+3.3pp	31.7%+4.8pp	26.9%+2.6pp	24.3%-3.1pp	27.4%+3.5pp	23.9%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Margin	34.7%-0.7pp	32.1%-5.1pp	31.3%-8.2pp	35.5%+2.0pp	35.4%+2.2pp	37.2%+9.5pp	39.5%+16.3pp	33.5%+5.4pp
Net Margin	23.8%-2.5pp	23.5%-4.4pp	23.2%-6.0pp	28.5%+2.0pp	26.3%+0.3pp	27.9%+5.7pp	29.2%+9.7pp	26.5%+5.1pp
Return on Equity	2.0%-0.2pp	1.9%-0.8pp	1.9%-1.1pp	2.5%-0.1pp	2.2%-0.1pp	2.7%+1.0pp	3.0%+1.7pp	2.5%+1.0pp
Return on Assets	1.6%+0.3pp	1.2%-0.5pp	1.2%-0.6pp	1.5%0.0pp	1.3%0.0pp	1.7%+0.6pp	1.8%+1.0pp	1.5%+0.6pp
Current Ratio	9.39-6.2x	1.78-16.0x	1.75-16.5x	12.72-1.1x	15.58-1.8x	17.79-2.2x	18.29-4.3x	13.78-1.4x
Liabilities-to-Equity	0.21-0.4x	0.610.0x	0.610.0x	0.640.0x	0.640.0x	0.630.0x	0.640.0x	0.670.0x
Asset Turnover	0.070.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.060.0x	0.060.0x	0.060.0x
FCF Margin	44.2%-4.8pp	27.6%-11.9pp	7.2%-14.6pp	42.6%+4.6pp	49.0%+4.6pp	39.5%+13.5pp	21.8%+15.8pp	38.0%-0.9pp

Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.

Where Hennessy Advisors, Inc. Ranks

Frequently Asked Questions

What is Hennessy Advisors, Inc.'s annual revenue?

Hennessy Advisors, Inc. (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 Advisors, Inc.'s revenue growing?

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

Is Hennessy Advisors, Inc. profitable?

Yes, Hennessy Advisors, Inc. (HNNA) reported a net income of $8.3M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $10.0M, with a net profit margin of 28.0%.

What is Hennessy Advisors, Inc.'s EBITDA?

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

What is Hennessy Advisors, Inc.'s operating margin?

Hennessy Advisors, Inc. (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 Advisors, Inc.'s net profit margin?

Hennessy Advisors, Inc. (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 Advisors, Inc. pay dividends?

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

What is Hennessy Advisors, Inc.'s return on equity (ROE)?

Hennessy Advisors, Inc. (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 Advisors, Inc.'s free cash flow?

Hennessy Advisors, Inc. (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 Advisors, Inc.'s operating cash flow?

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

What are Hennessy Advisors, Inc.'s total assets?

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

What are Hennessy Advisors, Inc.'s capital expenditures?

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

How many shares does Hennessy Advisors, Inc. have outstanding?

Hennessy Advisors, Inc. (HNNA) had 8M shares outstanding as of fiscal year 2025.

What is Hennessy Advisors, Inc.'s current ratio?

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

What is Hennessy Advisors, Inc.'s liabilities-to-equity ratio?

Hennessy Advisors, Inc. (HNNA) had a liabilities-to-equity ratio of 0.64 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

What is Hennessy Advisors, Inc.'s return on assets (ROA)?

Hennessy Advisors, Inc. (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 Advisors, Inc.'s P/E ratio?

Hennessy Advisors, Inc. (HNNA) trades at 9.8x earnings, its market capitalization divided by $8.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $80.5M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Hennessy Advisors, Inc.'s price-to-sales ratio?

Hennessy Advisors, Inc. (HNNA) trades at 2.4x sales, its market capitalization divided by $33.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $80.5M as of Oct 28, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Hennessy Advisors, Inc.'s Altman Z-Score?

Hennessy Advisors, Inc. (HNNA) has an Altman Z-Score of 2.44, 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 Advisors, Inc.'s Piotroski F-Score?

Hennessy Advisors, Inc. (HNNA) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Advisors, Inc.'s earnings high quality?

Hennessy Advisors, Inc. (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 Advisors, Inc. cover its interest payments?

Hennessy Advisors, Inc. (HNNA) has an interest coverage ratio of 5.73x, 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 Advisors, Inc.?

Hennessy Advisors, Inc. (HNNA) scores 81 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.