Hanover Bancorp, Inc. Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hanover Bancorp, Inc.'s revenue surged 26.6% year-over-year to $133.0M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Hanover Bancorp, Inc. has elevated debt relative to equity (D/E of 10.76), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Hanover Bancorp, Inc.'s free cash flow margin of 3.5% results in a low score of 17/100. Capital expenditures of $1.3M absorb a large share of operating cash flow.
Hanover Bancorp, Inc. generates a 6.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 25/100. This is down from 8.2% the prior year.
Hanover Bancorp, Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Hanover Bancorp, Inc. generates $0.48 in operating cash flow ($5.9M OCF vs $12.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Hanover Bancorp, Inc. (HNVR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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
Hanover Bancorp, Inc. generated $133.0M in revenue in fiscal year 2024. This represents an increase of 26.6% from the prior year.
Hanover Bancorp, Inc. generated $4.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 64.5% from the prior year.
Hanover Bancorp, Inc. reported $12.3M in net income in fiscal year 2024. This represents a decrease of 18.6% from the prior year.
Hanover Bancorp, Inc. earned $1.66 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 19.0% from the prior year.
Hanover Bancorp, Inc. held $162.9M in cash against $0 in long-term debt as of fiscal year 2024.
Hanover Bancorp, Inc. paid $0.10 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Hanover Bancorp, Inc. had 7M shares outstanding in fiscal year 2024. This represents a decrease of 0.3% from the prior year.
Hanover Bancorp, Inc.'s net profit margin was 9.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 5.2 percentage points from the prior year.
Hanover Bancorp, Inc.'s ROE was 6.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.9 percentage points from the prior year.
Hanover Bancorp, Inc. invested $1.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 62.1% from the prior year.
HNVR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.0M+2.9% | $32.0M-2.4% | $32.8M-0.7% | $33.1M-1.1% | $33.4M+3.0% | $32.4M+4.1% | $31.2M+7.6% | $29.0M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $17.8M+3.0% | $17.3M-5.2% | $18.2M-5.4% | $19.2M-4.6% | $20.2M+3.5% | $19.5M+5.4% | $18.5M+7.8% | $17.2M |
| Income Tax | $1.2M+25.4% | $940K+285.2% | $244K-81.1% | $1.3M+310.5% | $315K-76.6% | $1.3M+5.2% | $1.3M+9.8% | $1.2M |
| Net Income | $3.5M+42.9% | $2.4M+60.6% | $1.5M-61.0% | $3.9M+362.3% | $844K-79.2% | $4.1M+7.9% | $3.8M+6.8% | $3.5M |
| EPS (Diluted) | $0.47+42.4% | $0.33+65.0% | $0.20-61.5% | $0.52+372.7% | $0.11-80.0% | $0.55+7.8% | $0.51+6.3% | $0.48 |
HNVR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.3B+0.8% | $2.3B+0.9% | $2.3B-0.9% | $2.3B-0.8% | $2.3B+1.0% | $2.3B+1.6% | $2.3B+5.6% | $2.1B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $167.6M+1.8% | $164.5M+2.7% | $160.2M-1.6% | $162.9M+15.4% | $141.1M+3.4% | $136.5M-23.0% | $177.2M-8.0% | $192.6M |
| 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 | $19.2M0.0% | $19.2M0.0% | $19.2M0.0% | $19.2M0.0% | $19.2M0.0% | $19.2M0.0% | $19.2M0.0% | $19.2M |
| Total Liabilities | $2.1B+0.8% | $2.1B+0.9% | $2.1B-1.0% | $2.1B-1.2% | $2.1B+1.1% | $2.1B+1.6% | $2.1B+6.2% | $2.0B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $201.8M+1.5% | $198.9M+1.1% | $196.6M0.0% | $196.6M+3.5% | $190.1M+0.3% | $189.5M+2.5% | $184.8M-0.6% | $185.9M |
| Retained Earnings | $73.1M+3.9% | $70.4M+2.5% | $68.7M+1.1% | $67.9M+9.6% | $62.0M+0.2% | $61.9M+5.7% | $58.6M-0.2% | $58.7M |
HNVR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.7M+233.4% | -$2.1M-150.1% | $4.1M-30.9% | $6.0M+291.9% | -$3.1M-186.3% | $3.6M-12.6% | $4.1M+354.1% | $906K |
| Capital Expenditures | $317K+252.2% | $90K-60.5% | $228K+128.9% | -$789K-154.6% | $1.4M+368.8% | $308K-13.5% | $356K+12.7% | $316K |
| Free Cash Flow | $2.4M+213.1% | -$2.2M-155.4% | $3.9M-24.8% | $5.2M+213.6% | -$4.5M-238.3% | $3.3M-12.5% | $3.8M+536.9% | $590K |
| Investing Cash Flow | -$14.9M-92.5% | -$7.7M-159.2% | $13.0M-65.5% | $37.8M+331.8% | -$16.3M+78.6% | -$76.2M+44.5% | -$137.4M-194.7% | -$46.6M |
| Financing Cash Flow | $15.2M+7.6% | $14.1M+171.2% | -$19.8M+10.7% | -$22.2M-192.1% | $24.1M-24.5% | $31.9M-73.0% | $117.8M+339.8% | $26.8M |
| Dividends Paid | $748K-0.3% | $750K+0.1% | $749K+0.9% | $742K+0.3% | $740K+0.4% | $737K+0.8% | $731K-0.3% | $733K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HNVR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 10.6%+3.0pp | 7.6%+3.0pp | 4.6%-7.2pp | 11.8%+9.3pp | 2.5%-10.0pp | 12.5%+0.4pp | 12.1%-0.1pp | 12.2% |
| Return on Equity | 1.7%+0.5pp | 1.2%+0.5pp | 0.8%-1.2pp | 2.0%+1.5pp | 0.4%-1.7pp | 2.1%+0.1pp | 2.0%+0.1pp | 1.9% |
| Return on Assets | 0.1%+0.0pp | 0.1%+0.0pp | 0.1%-0.1pp | 0.2%+0.1pp | 0.0%-0.1pp | 0.2%+0.0pp | 0.2%0.0pp | 0.2% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 10.55-0.1 | 10.62-0.0 | 10.65-0.1 | 10.76-0.5 | 11.26+0.1 | 11.17-0.1 | 11.28+0.7 | 10.56 |
| FCF Margin | 7.4%+14.1pp | -6.7%-18.5pp | 11.8%-3.8pp | 15.6%+29.2pp | -13.6%-23.7pp | 10.1%-1.9pp | 12.1%+10.0pp | 2.0% |
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Frequently Asked Questions
What is Hanover Bancorp, Inc.'s annual revenue?
Hanover Bancorp, Inc. (HNVR) reported $133.0M in total revenue for fiscal year 2024. This represents a 26.6% 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 Hanover Bancorp, Inc.'s revenue growing?
Hanover Bancorp, Inc. (HNVR) revenue grew by 26.6% year-over-year, from $105.0M to $133.0M in fiscal year 2024.
Is Hanover Bancorp, Inc. profitable?
Yes, Hanover Bancorp, Inc. (HNVR) reported a net income of $12.3M in fiscal year 2024, with a net profit margin of 9.3%.
What is Hanover Bancorp, Inc.'s earnings per share (EPS)?
Hanover Bancorp, Inc. (HNVR) reported diluted earnings per share of $1.66 for fiscal year 2024. This represents a -19.0% 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 Hanover Bancorp, Inc.'s net profit margin?
Hanover Bancorp, Inc. (HNVR) had a net profit margin of 9.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Hanover Bancorp, Inc. pay dividends?
Yes, Hanover Bancorp, Inc. (HNVR) paid $0.10 per share in dividends during fiscal year 2024.
What is Hanover Bancorp, Inc.'s return on equity (ROE)?
Hanover Bancorp, Inc. (HNVR) has a return on equity of 6.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Hanover Bancorp, Inc.'s free cash flow?
Hanover Bancorp, Inc. (HNVR) generated $4.6M in free cash flow during fiscal year 2024. This represents a -64.5% 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 Hanover Bancorp, Inc.'s operating cash flow?
Hanover Bancorp, Inc. (HNVR) generated $5.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Hanover Bancorp, Inc.'s total assets?
Hanover Bancorp, Inc. (HNVR) had $2.3B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Hanover Bancorp, Inc.'s capital expenditures?
Hanover Bancorp, Inc. (HNVR) invested $1.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does Hanover Bancorp, Inc. have outstanding?
Hanover Bancorp, Inc. (HNVR) had 7M shares outstanding as of fiscal year 2024.
What is Hanover Bancorp, Inc.'s debt-to-equity ratio?
Hanover Bancorp, Inc. (HNVR) had a debt-to-equity ratio of 10.76 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hanover Bancorp, Inc.'s return on assets (ROA)?
Hanover Bancorp, Inc. (HNVR) had a return on assets of 0.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Hanover Bancorp, Inc.'s Piotroski F-Score?
Hanover Bancorp, Inc. (HNVR) has a Piotroski F-Score of 4 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. Learn more in our complete guide to financial health indicators.
Are Hanover Bancorp, Inc.'s earnings high quality?
Hanover Bancorp, Inc. (HNVR) has an earnings quality ratio of 0.48x, considered low quality (accrual-driven). 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.
How financially healthy is Hanover Bancorp, Inc.?
Hanover Bancorp, Inc. (HNVR) scores 36 out of 100 on our Financial Profile, indicating weak 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.