HNNA Financials HENNESSY ADVISORS INC

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:15 UTC Overview →

Growth & profitability

Revenue has grown 1.3% per year over the past 5 years.
Net income has grown faster than revenue (4.9% vs 1.3% per year).
Operating margin has expanded, at 37.0% in the latest year.
Free cash flow has grown 5.0% per year over the past 5 years.

Financial health

Total debt has grown slower than revenue (-8.2% vs 1.3% per year).
Operating income covered interest expense 5.7× in the latest year, down from 25× 5 years ago.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 42.2% of earnings and 31.5% of free cash flow.
The dividend has grown 1.2% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$36M	$10M	0.0%	37.0%	10.2%	6.2%	$13M	—	$72M
2024	$30M	$7M	0.0%	29.9%	7.8%	4.7%	$9M	—	$64M
2023	$24M	$5M	0.0%	26.4%	5.4%	3.3%	$7M	—	$60M
2022	$30M	$6M	0.0%	33.2%	7.2%	4.3%	$8M	—	$58M
2021	$33M	$8M	0.0%	33.2%	9.5%	7.8%	$10M	—	$16M
2020	$33M	$8M	0.0%	33.9%	10.0%	8.3%	$10M	—	$10M
2019	$43M	$11M	0.0%	37.5%	14.6%	10.0%	$14M	$17M	$25M
2018	$55M	$21M	0.0%	44.8%	29.0%	18.8%	$21M	$22M	$25M
2017	—	$15M	—	—	29.0%	15.4%	$20M	$26M	$16M
2016	—	$14M	—	—	38.5%	16.9%	—	$30M	$4M
2015	—	$11M	—	—	49.3%	15.6%	—	$35M	$3M
2014	—	$8M	—	—	20.5%	10.2%	—	$27M	$8M
2013	—	$5M	—	—	16.2%	6.4%	$6M	$30M	$8M
2012	—	$971000	—	—	—	3.0%	$2M	$8M	$9M
2011	—	$1M	—	—	—	3.8%	$2M	$3M	$8M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$8M	$2M	0.0%	34.7%	2.0%	1.6%	$4M	—	$35M
Mar '26	$8M	$2M	0.0%	32.1%	1.9%	1.2%	$2M	—	$73M
Dec '25	$8M	$2M	0.0%	31.3%	2.0%	1.2%	$601000	—	$72M
Jun '25	$8M	$2M	0.0%	35.4%	2.2%	1.3%	$4M	—	$70M
Mar '25	$9M	$3M	0.0%	37.2%	2.7%	1.7%	$4M	—	$68M
Dec '24	$10M	$3M	0.0%	39.5%	3.0%	1.8%	$2M	—	$65M
Sep '24	$9M	$2M	0.0%	33.5%	2.5%	1.5%	$3M	—	$64M
Jun '24	$8M	$2M	0.0%	33.2%	2.3%	1.4%	$3M	—	$62M
Mar '24	$7M	$2M	0.0%	27.7%	1.7%	1.0%	$2M	—	$60M
Dec '23	$6M	$1M	0.0%	23.2%	1.4%	0.8%	$370000	—	$60M
Sep '23	$6M	$1M	0.0%	28.0%	1.5%	0.9%	$2M	—	$60M
Jun '23	$6M	$1M	0.0%	24.2%	1.3%	0.8%	$3M	—	$59M
Mar '23	$6M	$1M	0.0%	26.9%	1.4%	0.8%	$2M	—	$58M
Dec '22	$6M	$1M	0.0%	26.1%	1.3%	0.8%	-$96000	—	$57M
Sep '22	$6M	$1M	0.0%	31.6%	1.6%	1.0%	$2M	—	$58M
Jun '22	$7M	$1M	0.0%	33.7%	1.5%	0.9%	$3M	—	$57M
Mar '22	$8M	$2M	0.0%	34.5%	1.9%	1.1%	$2M	—	$56M
Dec '21	$9M	$2M	0.0%	32.7%	2.3%	1.4%	$1M	—	$55M
Sep '21	$9M	$2M	0.0%	33.7%	2.4%	2.0%	$3M	—	$16M
Jun '21	$9M	$2M	0.0%	35.6%	2.7%	2.2%	$4M	—	$14M

Valuation over time

How the market has priced HNNA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 9.7× (Mar '23) to 8.2× (Nov '26).
The price-to-sales ratio has risen from 2.0× (Mar '23) to 2.3× (Nov '26).
The dividend yield has fallen from 6.7% (Mar '23) to 5.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is HNNA growing its revenue and profit?

Over the past 5 years, HENNESSY ADVISORS INC's revenue has grown 1.3% per year, and net income grown 4.9% per year. These are computed facts, not advice.

How much debt does HNNA have?

As of FY2025, HENNESSY ADVISORS INC reported — of total debt against $72M of cash; operating income covered interest expense 5.7×.

What is HNNA's profit margin?

In FY2025, gross margin was —, operating margin 37.0%, and net margin 28.0%.

What is HNNA's P/E ratio?

HENNESSY ADVISORS INC's P/E (TTM) is 8.24 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the HNNA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 8.2× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.