Hennessy Advisors, Inc. Reports Strong Fiscal 2025 Results with 38% Increase in Annual Earnings Per Share

Rhea-AI Summary

Hennessy Advisors (Nasdaq: HNNA) reported fiscal 2025 results for the year ended September 30, 2025, showing broad earnings strength.

Key metrics: total revenue $35.5M (+19.9%), net income $10.0M (+40.4%), diluted EPS $1.27 (+38.0%), average AUM $4.48B (+21.6%), and cash and cash equivalents net of gross debt $32.2M (+35.9%). Total AUM at year end was $4.24B. Management reaffirmed a quarterly dividend, cited a pending ETF lineup expansion, and emphasized focus on growth and stability entering fiscal 2026.

Positive

• Total revenue +19.9% to $35.54M
• Net income +40.4% to $9.96M
• Diluted EPS +38.0% to $1.27
• Average AUM +21.6% to $4.48B
• Cash net of gross debt +35.9% to $32.18M

Negative

• None.

News Market Reaction

+1.67% 2.4x vol

3 alerts

+1.67% News Effect

-4.3% Trough Tracked

+$1M Valuation Impact

$76M Market Cap

2.4x Rel. Volume

On the day this news was published, HNNA gained 1.67%, reflecting a mild positive market reaction. Argus tracked a trough of -4.3% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $1M to the company's valuation, bringing the market cap to $76M at that time. Trading volume was elevated at 2.4x the daily average, suggesting notable buying interest.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Total revenue: $35.5M Net income: $10.0M Diluted EPS: $1.27 +5 more

8 metrics

Total revenue $35.5M Fiscal year 2025, up 20% vs 2024

Net income $10.0M Fiscal year 2025, up 40% vs 2024

Diluted EPS $1.27 Fiscal year 2025, up 38% vs 2024

Average AUM $4.48B Fiscal year 2025, up 21.6% vs 2024

Total AUM year-end $4.24B As of Sept 30, 2025, down 8.6% vs 2024

Cash net of debt $32.2M As of Sept 30, 2025, up 35.9% vs 2024

Dow total return 11.50% One-year period ended Sept 30, 2025

S&P 500 total return 17.60% One-year period ended Sept 30, 2025

Market Reality Check

Price: $9.96 Vol: Volume 47,173 vs 20-day a...

high vol

$9.96 Last Close

Volume Volume 47,173 vs 20-day average 8,624, about 5.47x typical trading activity. high

Technical Price $10.13 is trading below the $10.87 200-day moving average.

Peers on Argus

Peers showed mixed moves, with changes from about -0.43% (GDO) to +2.15% (CEE), ...

Peers showed mixed moves, with changes from about -0.43% (GDO) to +2.15% (CEE), suggesting today’s action in HNNA is more stock-specific than sector-driven.

Historical Context

3 past events · Latest: Dec 03 (Positive)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Full-year results	Positive	+1.7%	Fiscal 2025 revenue, EPS, and net income posted strong double-digit growth.
Oct 29	Dividend declaration	Positive	-2.0%	Quarterly dividend of $0.1375 per share with yield highlighted as well covered.
Aug 06	Quarterly earnings	Positive	-4.5%	Strong Q3 2025 revenue and net income with stable EPS and higher AUM and cash.

Pattern Detected

Recent news has been mostly positive (earnings strength and steady dividends), but price reactions often diverged, with two dividend/earnings items trading down despite constructive updates.

Recent Company History

Over the last few months, Hennessy Advisors reported improving fundamentals and consistent capital returns. On Aug 6, 2025, Q3 2025 results showed revenue of $8.1M and net income of $2.1M, alongside higher AUM and a recurring quarterly dividend. On Oct 29, 2025, the company reaffirmed its quarterly dividend of $0.1375 per share. The latest fiscal 2025 release on Dec 3, 2025 highlighted strong full-year growth in revenue, EPS, and cash, reinforcing a narrative of disciplined, dividend-supported growth.

Market Pulse Summary

This announcement highlighted robust fiscal 2025 performance, with revenue of $35.5M, net income of ...

Analysis

This announcement highlighted robust fiscal 2025 performance, with revenue of $35.5M, net income of $10.0M, and diluted EPS of $1.27, all showing strong year-over-year growth. Average AUM rose to $4.48B, while year-end AUM eased to $4.24B and cash net of debt improved to $32.2M. Historically consistent dividends and a pending ETF expansion were key themes. Investors may watch future AUM trends, cash generation, and capital return policies as primary metrics.

Key Terms

earnings per share, assets under management, cash and cash equivalents, weighted average number of shares outstanding, +4 more

8 terms

earnings per share financial

"Fully diluted earnings per share of $1.27, an increase of 38%."

Earnings per share represent the amount of profit a company makes for each share of its stock, similar to how a pie’s total size can be divided into slices for each person. It helps investors understand how profitable the company is on a per-share basis, making it easier to compare its performance over time or against other companies. Higher earnings per share generally indicate better profitability and can influence a company's stock value.

assets under management financial

"Average assets under management, upon which revenue is earned, of $4.5 billion..."

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

cash and cash equivalents financial

"Cash and cash equivalents, net of gross debt, of $32.2 million..."

Cash and cash equivalents are the money a company has on hand plus very short-term, low-risk investments that can be quickly turned into cash, like bank deposits or government bills. Investors watch this figure because it shows a company’s immediate ability to pay bills, cover unexpected costs, and fund operations or growth — like a household’s checking account and emergency fund that keeps daily life running smoothly.

weighted average number of shares outstanding financial

"Weighted Average Number of Shares Outstanding (Diluted) | | 7,828,947..."

The weighted average number of shares outstanding is the average count of a company's shares available during a reporting period, adjusted for any issues, buybacks, or other changes so each day’s share count is weighted by how long it applied. Investors use it to calculate per-share measures like earnings per share, because it ensures profits or losses are divided by a fair, time-adjusted share base — like averaging how many people occupied a room across a meeting to get a per-person cost.

form 4 regulatory

"title": "[Form 4] HENNESSY ADVISORS INC Insider Trading Activity""

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

form 144 regulatory

"title": "[144] Hennessy Advisors, Inc. SEC Filing""

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

13f-hr regulatory

"title": "[13F-HR] HENNESSY ADVISORS INC SEC Filing""

Form 13F-HR is a quarterly filing that large institutional investment managers must submit to regulators listing the public stocks and equity-related positions they hold. Think of it as a public inventory sheet revealing what major investors bought or kept each quarter; that transparency helps other market participants see where big money is positioned and can affect sentiment, trading flows, and perceived support for a company’s stock.

restricted stock units financial

"shares were acquired on 08/06/2003 as RSUs and stock options..."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

AI-generated analysis. Not financial advice.

NOVATO, Calif., Dec. 3, 2025 /PRNewswire/ -- Hennessy Advisors, Inc. (Nasdaq: HNNA) today reported results for the fiscal year ended September 30, 2025.

"As 2025 draws to a close, I have the utmost confidence in the strength of the economy and the U.S. stock market," said Neil Hennessy, Chairman and CEO. "In the one-year period ended September 30, 2025, the Dow Jones Industrial Average gained 11.50% and the S&P 500^® Index rose 17.60% (on a total return basis). Those results, in my view, reflect a resilient economy and a steady consumer that are together poised to drive growth as we approach the holiday season."

"The market will always have its skeptics, but I'll never bet against our economy or our country. There's uncertainty, of course. However, I believe the market fundamentals are sound: steady consumer spending, solid corporate earnings, and moderate inflation. As the Federal Reserve eases monetary policy in coming months, I expect lower interest rates to further support investors, consumers, and businesses alike," he added.

"I'm also proud of our Funds' historical performance. Every one of our 17 Hennessy Funds posted positive returns in the one- and three-year periods ended September 30, 2025. Among our 16 Funds with more than 10 years of operating history, all delivered positive results for both the 5-year and 10-year periods ended September 30, 2025," stated Neil Hennessy.

"While total assets under management declined from prior year, we are entering fiscal year 2026 from a strong position – nearly $4.3 billion in assets under management, more than $72 million in cash, and a pending deal in process to expand our ETF lineup," said Teresa Nilsen, President and COO.

"Our higher average assets this year helped fuel a 40% increase in net income and boosted our cash position by over $8.5 million. These results reflect both the strength of our operating model and the discipline of our team," she added. "Looking ahead, our focus remains on growth and stability. We remain committed to maintaining our quarterly dividend, and we'll continue to seek opportunities—organically and through acquisition—that align with our values and create long-term value for our shareholders."

Summary Highlights for the Fiscal Year (compared to fiscal year 2024):

• Total revenue of $35.5 million, an increase of 20%.
• Net income of $10.0 million, an increase of 40%.
• Fully diluted earnings per share of $1.27, an increase of 38%.
• Average assets under management, upon which revenue is earned, of $4.5 billion, an increase of 22%.
• Total assets under management at fiscal year end of $4.2 billion, a decrease of 9%.
• Cash and cash equivalents, net of gross debt, of $32.2 million, an increase of 36%.

 

		Twelve Months Ended Sept 30,				Change
		2025		2024		Dollar		Percent
Total Revenue		$          35,538,420		$          29,646,194		$         5,892,226		19.9 %
Net Income		9,960,235		7,096,701		2,863,534		40.4 %
Earnings Per Share (Diluted)		1.27		0.92		0.35		38.0 %
Weighted Average Number of Shares Outstanding (Diluted)		7,828,947		7,721,781		107,166		1.4 %
Average Assets Under Management		4,482,213,865		3,686,942,501		795,271,364		21.6 %
		As of Sept 30,
		2025		2024
Total Assets Under Management		$     4,244,768,182		$     4,642,363,105		$    (397,594,923)		-8.6 %
Cash and Cash Equivalents, Net of Gross Debt Balance		32,180,962		23,671,594		8,509,368		35.9 %

 

About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty funds. Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy‑and‑hold philosophy that rejects the idea of market timing.

Supplemental Information
Nothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.

Forward-Looking Statements
This press release contains "forward-looking statements" for which Hennessy Advisors, Inc. claims the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. Forward‑looking statements relate to expectations and projections about future events based on currently available information. Forward‑looking statements are not a guarantee of future performance or results and are not necessarily accurate indications of the times at which, or means by which, such performance or results may be achieved. Forward‑looking statements are subject to risks, uncertainties, and assumptions, including those described in the sections entitled "Risk Factors" and elsewhere in the reports that Hennessy Advisors, Inc. files with the Securities and Exchange Commission. Unforeseen developments could cause actual performance or results to differ substantially from those expressed in, or suggested by, the forward‑looking statements. Hennessy Advisors, Inc. management does not assume responsibility for the accuracy or completeness of the forward-looking statements and undertakes no responsibility to update any such statement after the date of this press release to conform to actual results or to changes in expectations.

 

View original content:https://www.prnewswire.com/news-releases/hennessy-advisors-inc-reports-strong-fiscal-2025-results-with-38-increase-in-annual-earnings-per-share-302632139.html

SOURCE Hennessy Advisors, Inc.

FAQ

What were Hennessy Advisors (HNNA) fiscal 2025 earnings per share and how did they change?

HNNA reported diluted EPS of $1.27 for fiscal 2025, a 38.0% increase from $0.92 in fiscal 2024.

How much did Hennessy Advisors' total revenue (HNNA) grow in fiscal 2025?

Total revenue rose to $35.54 million, an increase of approximately 19.9% versus fiscal 2024.

What happened to Hennessy Advisors' assets under management (HNNA) in fiscal 2025?

Average AUM increased to $4.48 billion (+21.6%), while total AUM at year end was $4.24 billion.

Did Hennessy Advisors (HNNA) report changes in cash or liquidity for fiscal 2025?

Yes; cash and cash equivalents net of gross debt rose to $32.18 million, up 35.9% year-over-year.

Will Hennessy Advisors (HNNA) maintain its dividend after fiscal 2025 results?

Management said it remains committed to maintaining the company's quarterly dividend.