Hanover Bancorp, Inc. Financials
This page shows Hanover Bancorp, Inc. (HNVR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Funding-cost pressure is outpacing balance-sheet growth, leaving Hanover larger in assets but less profitable on each dollar employed.
Between FY2023 and FY2025, ROA fell from0.7% to0.3% . With assets still climbing from$2.1B to$2.4B and interest expense still consuming more than half of revenue in FY2025, Hanover looked bigger on paper but less productive per balance-sheet dollar, even with revenue roughly steady versus FY2024.
Leverage stayed elevated, near 11x debt-to-equity across FY2023-FY2025, so small shifts in asset profitability had an outsized effect on shareholder returns. That is exactly what happened: ROE compression from
Liquidity improved as cash increased to
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Hanover Bancorp, 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.
Hanover Bancorp, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Hanover Bancorp, Inc. generates $1.74 in operating cash flow ($13.1M OCF vs $7.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Hanover Bancorp, Inc. generated $130.5M in revenue in fiscal year 2025. This represents a decrease of 1.9% from the prior year.
Hanover Bancorp, Inc. reported $7.5M in net income in fiscal year 2025. This represents a decrease of 39.3% from the prior year.
Hanover Bancorp, Inc. earned $1.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 39.8% from the prior year.
Cash & Balance Sheet
Hanover Bancorp, Inc. generated $12.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 193.7% from the prior year.
Hanover Bancorp, Inc. held $208.9M in cash against $0 in long-term debt as of fiscal year 2025.
Hanover Bancorp, Inc. paid $0.10 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Hanover Bancorp, Inc. had 7M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.
Margins & Returns
Hanover Bancorp, Inc.'s net profit margin was 5.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.5 percentage points from the prior year.
Hanover Bancorp, Inc.'s ROE was 3.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.5 percentage points from the prior year.
Capital Allocation
Hanover Bancorp, Inc. spent $1.8M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Hanover Bancorp, Inc. invested $869K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 32.7% from the prior year.
HNVR Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32.3M-0.9% | $32.6M-1.2% | $33.0M+2.9% | $32.0M-2.4% | $32.8M-0.7% | $33.1M-3.1% | $34.1M+2.1% | $33.4M |
| 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 | $10.1M+47.3% | $6.9M+1.5% | $6.8M-3.3% | $7.0M-3.2% | $7.2M+8.0% | $6.7M-2.1% | $6.8M+5.2% | $6.5M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $15.9M-5.0% | $16.8M-5.6% | $17.8M+3.0% | $17.3M-5.2% | $18.2M-5.4% | $19.2M-8.4% | $21.0M+4.2% | $20.2M |
| Income Tax | $1.1M+964.1% | $103K-91.3% | $1.2M+25.4% | $940K+285.2% | $244K-81.1% | $1.3M+19.8% | $1.1M+242.5% | $315K |
| Net Income | $1.9M+5578.8% | $33K-99.1% | $3.5M+42.9% | $2.4M+60.6% | $1.5M-61.0% | $3.9M+10.3% | $3.5M+319.3% | $844K |
| EPS (Diluted) | $0.25 | N/A | $0.47+42.4% | $0.33+65.0% | $0.20 | N/A | $0.48+336.4% | $0.11 |
HNVR Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B-0.5% | $2.4B+2.2% | $2.3B+0.8% | $2.3B+0.9% | $2.3B-0.9% | $2.3B-0.7% | $2.3B-0.1% | $2.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $194.4M-6.9% | $208.9M+24.7% | $167.6M+1.8% | $164.5M+2.7% | $160.2M-1.6% | $162.9M+15.3% | $141.2M+0.1% | $141.1M |
| 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 | $2.2B-0.6% | $2.2B+2.5% | $2.1B+0.8% | $2.1B+0.9% | $2.1B-1.0% | $2.1B-0.9% | $2.1B-0.3% | $2.1B |
| 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 | $201.4M+0.6% | $200.3M-0.8% | $201.8M+1.5% | $198.9M+1.1% | $196.6M0.0% | $196.6M+2.2% | $192.3M+1.2% | $190.1M |
| Retained Earnings | $73.5M+1.6% | $72.4M-1.0% | $73.1M+3.9% | $70.4M+2.5% | $68.7M+1.1% | $67.9M+4.9% | $64.8M+4.5% | $62.0M |
HNVR Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.5M-130.5% | $8.3M+200.1% | $2.7M+55.5% | $1.8M+522.5% | $284K-94.8% | $5.5M+1104.4% | -$547K+82.4% | -$3.1M |
| Capital Expenditures | $184K-21.4% | $234K-26.2% | $317K+252.2% | $90K-60.5% | $228K+128.9% | -$789K-339.8% | $329K-77.2% | $1.4M |
| Free Cash Flow | -$2.7M-133.6% | $8.0M+229.6% | $2.4M+44.9% | $1.7M+2896.4% | $56K-98.8% | $4.7M+637.1% | -$876K+80.7% | -$4.5M |
| Investing Cash Flow | $1.9M+110.1% | -$18.4M-23.8% | -$14.9M-28.7% | -$11.6M-168.5% | $16.9M-55.9% | $38.3M+332.7% | $8.8M+154.2% | -$16.3M |
| Financing Cash Flow | -$13.8M-126.8% | $51.5M+239.8% | $15.2M+7.6% | $14.1M+171.2% | -$19.8M+10.7% | -$22.2M-170.7% | -$8.2M-134.0% | $24.1M |
| Dividends Paid | $746K-2.1% | $762K+1.9% | $748K-0.3% | $750K+0.1% | $749K+0.9% | $742K+0.1% | $741K+0.1% | $740K |
| Share Buybacks | N/A | $1.3M | N/A | N/A | N/A | N/A | N/A | N/A |
HNVR Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | 5.8%+5.7pp | 0.1%-10.5pp | 10.6%+3.0pp | 7.6%+3.0pp | 4.6%-7.2pp | 11.8%+1.4pp | 10.4%+7.8pp | 2.5% |
| Return on Equity | 0.9%+0.9pp | 0.0%-1.7pp | 1.7%+0.5pp | 1.2%+0.5pp | 0.8%-1.2pp | 2.0%+0.1pp | 1.8%+1.4pp | 0.4% |
| Return on Assets | 0.1%+0.1pp | 0.0%-0.1pp | 0.1%+0.0pp | 0.1%+0.0pp | 0.1%-0.1pp | 0.2%+0.0pp | 0.1%+0.1pp | 0.0% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 10.77-0.1 | 10.90+0.3 | 10.55-0.1 | 10.62-0.0 | 10.65-0.1 | 10.76-0.3 | 11.10-0.2 | 11.26 |
| FCF Margin | -8.3%-32.9pp | 24.6%+17.2pp | 7.4%+2.1pp | 5.2%+5.1pp | 0.2%-14.1pp | 14.2%+16.8pp | -2.6%+11.0pp | -13.6% |
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Frequently Asked Questions
What is Hanover Bancorp, Inc.'s annual revenue?
Hanover Bancorp, Inc. (HNVR) reported $130.5M in total revenue for fiscal year 2025. This represents a -1.9% 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 Hanover Bancorp, Inc.'s revenue growing?
Hanover Bancorp, Inc. (HNVR) revenue declined by 1.9% year-over-year, from $133.0M to $130.5M in fiscal year 2025.
Is Hanover Bancorp, Inc. profitable?
Yes, Hanover Bancorp, Inc. (HNVR) reported a net income of $7.5M in fiscal year 2025, with a net profit margin of 5.7%.
What is Hanover Bancorp, Inc.'s net profit margin?
Hanover Bancorp, Inc. (HNVR) had a net profit margin of 5.7% in fiscal year 2025, 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 2025.
What is Hanover Bancorp, Inc.'s return on equity (ROE)?
Hanover Bancorp, Inc. (HNVR) has a return on equity of 3.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hanover Bancorp, Inc.'s free cash flow?
Hanover Bancorp, Inc. (HNVR) generated $12.2M in free cash flow during fiscal year 2025. This represents a 193.7% 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 $13.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hanover Bancorp, Inc.'s total assets?
Hanover Bancorp, Inc. (HNVR) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hanover Bancorp, Inc.'s capital expenditures?
Hanover Bancorp, Inc. (HNVR) invested $869K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Hanover Bancorp, Inc.'s debt-to-equity ratio?
Hanover Bancorp, Inc. (HNVR) had a debt-to-equity ratio of 10.90 as of fiscal year 2025, 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 0.3% for fiscal year 2025, 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 6 computable signals; 3 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 Hanover Bancorp, Inc.'s earnings high quality?
Hanover Bancorp, Inc. (HNVR) has an earnings quality ratio of 1.74x, 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.
How financially healthy is Hanover Bancorp, Inc.?
Hanover Bancorp, Inc. (HNVR) scores 27 out of 100 on our Financial Health Score, indicating weak standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), 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.