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HENNESSY ADVISORS INC (HNNA) Stock Fundamental Analysis

NASDAQ:HNNA - Nasdaq - US4258851009 - Common Stock - Currency: USD

10.98  -0.02 (-0.18%)

Fundamental Rating

5

HNNA gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 232 industry peers in the Capital Markets industry. HNNA has an excellent financial health rating, but there are some minor concerns on its profitability. HNNA is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year HNNA was profitable.
In the past year HNNA had a positive cash flow from operations.
Each year in the past 5 years HNNA has been profitable.
HNNA had a positive operating cash flow in each of the past 5 years.
HNNA Yearly Net Income VS EBIT VS OCF VS FCFHNNA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M

1.2 Ratios

HNNA has a better Return On Assets (6.28%) than 76.29% of its industry peers.
HNNA has a Return On Equity (10.27%) which is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 6.15%, HNNA is in the better half of the industry, outperforming 73.28% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HNNA is below the industry average of 7.88%.
The last Return On Invested Capital (6.15%) for HNNA is above the 3 year average (4.26%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.28%
ROE 10.27%
ROIC 6.15%
ROA(3y)4.08%
ROA(5y)5.65%
ROE(3y)6.79%
ROE(5y)7.98%
ROIC(3y)4.26%
ROIC(5y)6.03%
HNNA Yearly ROA, ROE, ROICHNNA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

1.3 Margins

Looking at the Profit Margin, with a value of 27.50%, HNNA is in the better half of the industry, outperforming 69.40% of the companies in the same industry.
HNNA's Profit Margin has declined in the last couple of years.
The Operating Margin of HNNA (36.02%) is better than 65.95% of its industry peers.
HNNA's Operating Margin has declined in the last couple of years.
With an excellent Gross Margin value of 87.69%, HNNA belongs to the best of the industry, outperforming 91.38% of the companies in the same industry.
HNNA's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 36.02%
PM (TTM) 27.5%
GM 87.69%
OM growth 3Y-3.43%
OM growth 5Y-4.42%
PM growth 3Y-0.24%
PM growth 5Y-1.5%
GM growth 3Y3.45%
GM growth 5Y1.85%
HNNA Yearly Profit, Operating, Gross MarginsHNNA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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7

2. Health

2.1 Basic Checks

The number of shares outstanding for HNNA has been increased compared to 1 year ago.
The number of shares outstanding for HNNA has been increased compared to 5 years ago.
HNNA has a better debt/assets ratio than last year.
HNNA Yearly Shares OutstandingHNNA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M
HNNA Yearly Total Debt VS Total AssetsHNNA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

HNNA has an Altman-Z score of 2.52. This is not the best score and indicates that HNNA is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.52, HNNA is doing good in the industry, outperforming 75.00% of the companies in the same industry.
HNNA has a debt to FCF ratio of 3.16. This is a good value and a sign of high solvency as HNNA would need 3.16 years to pay back of all of its debts.
HNNA has a better Debt to FCF ratio (3.16) than 75.43% of its industry peers.
HNNA has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
HNNA has a better Debt to Equity ratio (0.42) than 70.26% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 3.16
Altman-Z 2.52
ROIC/WACCN/A
WACCN/A
HNNA Yearly LT Debt VS Equity VS FCFHNNA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

2.3 Liquidity

HNNA has a Current Ratio of 17.79. This indicates that HNNA is financially healthy and has no problem in meeting its short term obligations.
HNNA has a better Current ratio (17.79) than 98.71% of its industry peers.
HNNA has a Quick Ratio of 17.79. This indicates that HNNA is financially healthy and has no problem in meeting its short term obligations.
HNNA has a Quick ratio of 17.79. This is amongst the best in the industry. HNNA outperforms 98.71% of its industry peers.
Industry RankSector Rank
Current Ratio 17.79
Quick Ratio 17.79
HNNA Yearly Current Assets VS Current LiabilitesHNNA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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2

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 82.93% over the past year.
HNNA shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -8.33% yearly.
HNNA shows a strong growth in Revenue. In the last year, the Revenue has grown by 41.95%.
HNNA shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.05% yearly.
EPS 1Y (TTM)82.93%
EPS 3Y-4.94%
EPS 5Y-8.33%
EPS Q2Q%65%
Revenue 1Y (TTM)41.95%
Revenue growth 3Y-3.27%
Revenue growth 5Y-7.05%
Sales Q2Q%33.72%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
HNNA Yearly Revenue VS EstimatesHNNA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
HNNA Yearly EPS VS EstimatesHNNA Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 0.5 1 1.5 2

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 8.78, the valuation of HNNA can be described as reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of HNNA indicates a somewhat cheap valuation: HNNA is cheaper than 78.88% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 26.55. HNNA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 8.78
Fwd PE N/A
HNNA Price Earnings VS Forward Price EarningsHNNA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

HNNA's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. HNNA is cheaper than 93.97% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, HNNA is valued cheaper than 80.17% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.82
EV/EBITDA 4.42
HNNA Per share dataHNNA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

The decent profitability rating of HNNA may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

HNNA has a Yearly Dividend Yield of 4.83%, which is a nice return.
HNNA's Dividend Yield is comparable with the industry average which is at 8.22.
Compared to an average S&P500 Dividend Yield of 2.39, HNNA pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.83%

5.2 History

The dividend of HNNA has a limited annual growth rate of 3.18%.
HNNA has paid a dividend for at least 10 years, which is a reliable track record.
HNNA has decreased its dividend in the last 3 years.
Dividend Growth(5Y)3.18%
Div Incr Years0
Div Non Decr Years2
HNNA Yearly Dividends per shareHNNA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

42.75% of the earnings are spent on dividend by HNNA. This is a bit on the high side, but may be sustainable.
DP42.75%
EPS Next 2YN/A
EPS Next 3YN/A
HNNA Yearly Income VS Free CF VS DividendHNNA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
HNNA Dividend Payout.HNNA Dividend Payout, showing the Payout Ratio.HNNA Dividend Payout.PayoutRetained Earnings

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HENNESSY ADVISORS INC

NASDAQ:HNNA (6/9/2025, 10:13:27 AM)

10.98

-0.02 (-0.18%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-06 2025-08-06
Inst Owners11.77%
Inst Owner Change12.36%
Ins Owners36.84%
Ins Owner Change-7.88%
Market Cap85.53M
Analysts82.86
Price TargetN/A
Short Float %2.3%
Short Ratio7.4
Dividend
Industry RankSector Rank
Dividend Yield 4.83%
Yearly Dividend0.54
Dividend Growth(5Y)3.18%
DP42.75%
Div Incr Years0
Div Non Decr Years2
Ex-Date05-20 2025-05-20 (0.1375)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 8.78
Fwd PE N/A
P/S 2.41
P/FCF 6.82
P/OCF 6.6
P/B 0.9
P/tB 6.63
EV/EBITDA 4.42
EPS(TTM)1.25
EY11.38%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.61
FCFY14.65%
OCF(TTM)1.66
OCFY15.16%
SpS4.56
BVpS12.22
TBVpS1.66
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.28%
ROE 10.27%
ROCE 8.45%
ROIC 6.15%
ROICexc 11.09%
ROICexgc 571.16%
OM 36.02%
PM (TTM) 27.5%
GM 87.69%
FCFM 35.26%
ROA(3y)4.08%
ROA(5y)5.65%
ROE(3y)6.79%
ROE(5y)7.98%
ROIC(3y)4.26%
ROIC(5y)6.03%
ROICexc(3y)7.44%
ROICexc(5y)8.49%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)5.86%
ROCE(5y)8.3%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y-7.62%
ROICexc growth 5Y-13.19%
OM growth 3Y-3.43%
OM growth 5Y-4.42%
PM growth 3Y-0.24%
PM growth 5Y-1.5%
GM growth 3Y3.45%
GM growth 5Y1.85%
F-Score8
Asset Turnover0.23
Health
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 3.16
Debt/EBITDA 3.04
Cap/Depr 175%
Cap/Sales 1.22%
Interest Coverage 6.53
Cash Conversion 99.35%
Profit Quality 128.23%
Current Ratio 17.79
Quick Ratio 17.79
Altman-Z 2.52
F-Score8
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)333.21%
Cap/Depr(5y)295%
Cap/Sales(3y)2.86%
Cap/Sales(5y)2.4%
Profit Quality(3y)127.02%
Profit Quality(5y)126.73%
High Growth Momentum
Growth
EPS 1Y (TTM)82.93%
EPS 3Y-4.94%
EPS 5Y-8.33%
EPS Q2Q%65%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)41.95%
Revenue growth 3Y-3.27%
Revenue growth 5Y-7.05%
Sales Q2Q%33.72%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y97.62%
EBIT growth 3Y-6.59%
EBIT growth 5Y-11.16%
EBIT Next Year75923.5%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y94.91%
FCF growth 3Y-7.7%
FCF growth 5Y-8.48%
OCF growth 1Y82.89%
OCF growth 3Y-3.71%
OCF growth 5Y-8.41%