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 42 d ago 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 8.1× (Sep '26).
The price-to-sales ratio has risen from 2.0× (Mar '23) to 2.3× (Sep '26).
The dividend yield has fallen from 6.7% (Mar '23) to 5.2% (Sep '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?

As of Sep '26, HENNESSY ADVISORS INC traded at a price-to-earnings ratio of about 8.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.