Hennessy Advisors, Inc. (HNNA) Balance Sheet
HNNA balance sheet, FY2025
September 30, 2025 · U.S. dollars$160.5M assets = $62.7M liabilities + $97.7M equity
Both columns are drawn to the same scale: what HNNA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HNNA financial health
Descriptive bands, not a rating. Fiscal FY2025.
HNNA balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $84.9MFY2016 | $160.5MFY2025 | +7.3%/yr | |
| Total liabilities | $47.6MFY2016 | $62.7MFY2025 | +3.1%/yr | |
| Shareholders’ equity | $37.3MFY2016 | $97.7MFY2025 | +11.3%/yr | |
| Cash & short-term investments | $3.5MFY2016 | $72.4MFY2025 | +39.8%/yr | |
| Total debt | $30.2MFY2016 | $40.5MFY2025 | +3.3%/yr | |
| Net cash (debt) | −$26.6MFY2016 | $31.9MFY2025 | +$58.6M | |
| Working capital | −$1.1MFY2016 | $70.5MFY2025 | +$71.6M | |
| Book value per share | $4.84FY2016 | $12.48FY2025 | +11.1%/yr | |
| Debt / equity | 0.81FY2016 | 0.41FY2025 | −0.39 | |
| Shares outstanding | 7.7MFY2016 | 7.8MFY2025 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HNNA assets
HNNA liabilities and equity
HNNA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HNNA balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $72.4M | $63.9M | $60.5M | $58.5M | $15.8M | $10.0M | $24.7M | $25.4M | $15.7M | $3.5M |
| Cash & equivalents | $72.4M | $63.9M | $60.5M | $58.5M | $15.8M | $10.0M | $24.7M | $25.4M | $15.7M | $3.5M |
| Short-term investments | $12,000 | $11,000 | $10,000 | $9,000 | $10,000 | $9,000 | $9,000 | $9,000 | $8,000 | $8,000 |
| Receivables | $3.3M | $3.5M | $2.5M | $2.4M | $3.1M | $2.8M | $3.7M | $4.7M | $4.9M | $4.8M |
| Inventory | $0 | $0 | −$2.0M | −$2.1M | −$2.8M | −$2.4M | −$3.3M | $1 | $0 | $1.8M |
| Other current assets | $797,000 | $817,000 | $2.7M | $2.8M | $3.6M | $3.0M | $3.9M | $667,999 | $2.3M | $0 |
| Total current assets | $76.5M | $68.3M | $63.7M | $61.7M | $19.7M | $13.4M | $29.0M | $30.7M | $22.9M | $10.1M |
| Property, plant & equipment (net) | $1.2M | $1.4M | $600,000 | $971,000 | $1.3M | $570,000 | $361,000 | $382,000 | $254,000 | $296,000 |
| Goodwill & intangible assets | $0 | $82.3M | $81.3M | $80.9M | $80.6M | $80.6M | $80.6M | $78.2M | $74.6M | $74.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $82.7M | $183,000 | $156,000 | $156,000 | $235,000 | $191,000 | $192,000 | $191,000 | $145,000 | $149,000 |
| Total assets | $160.5M | $152.1M | $145.7M | $143.7M | $101.9M | $94.8M | $110.2M | $109.5M | $97.9M | $84.9M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $820,000 | — | $3.8M | $10.9M | $558,000 | −$202,000 | −$32,000 |
| Short-term debt | $365,000 | $332,000 | $279,000 | $367,000 | $359,000 | $330,000 | $4.3M | $4.2M | $4.2M | $4.2M |
| Deferred revenue | — | — | — | $13.5M | — | $11.5M | — | — | $202,000 | $32,000 |
| Total current liabilities | $6.0M | $5.0M | $4.2M | $4.7M | $5.6M | $5.1M | $11.4M | $12.0M | $12.5M | $11.2M |
| Long-term debt | $39.8M | $39.5M | $39.2M | $38.9M | $0 | $0 | $13.0M | $17.5M | $21.7M | $26.2M |
| Lease obligations | $695,000 | $1.0M | $279,000 | $646,000 | $1.0M | $330,000 | — | — | — | — |
| Other long-term liabilities | $16.9M | $16.4M | $14.6M | $13.8M | $13.1M | $11.5M | $10.3M | $9.0M | $12.2M | $10.1M |
| Total liabilities | $62.7M | $60.8M | $58.0M | $57.4M | $18.6M | $16.6M | $34.7M | $38.5M | $46.4M | $47.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $23.5M | $22.6M | $21.8M | $21.0M | $20.0M | $18.7M | $17.7M | $16.8M | $14.9M | $13.3M |
| Retained earnings (deficit) | $74.3M | $68.7M | $66.0M | $65.3M | $63.3M | $59.5M | $57.9M | $54.2M | $36.6M | $24.1M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | — | — | $87.8M | $0 | $83.3M | −$1.6M | −$1.4M | −$1.2M | −$922,000 | −$940,000 |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $97.7M | $91.3M | $87.8M | $86.3M | $83.3M | $78.2M | $75.5M | $71.0M | $51.5M | $37.3M |
| Key figures | ||||||||||
| Total debt | $40.5M | $40.5M | $39.4M | $39.5M | $1.0M | $330,000 | $17.4M | $21.7M | $26.0M | $30.2M |
| Net cash (debt) | $31.9M | $23.4M | $21.0M | $19.0M | $14.8M | $9.6M | $7.3M | $3.7M | −$10.2M | −$26.6M |
| Working capital | $70.5M | $63.3M | $59.5M | $56.9M | $14.1M | $8.3M | $17.6M | $18.7M | $10.4M | −$1.1M |
| Tangible book value | $97.7M | $9.1M | $6.5M | $5.4M | $2.6M | −$2.5M | −$5.1M | −$7.2M | −$23.1M | −$37.0M |
| Book value per share | $12.48 | $11.83 | $11.54 | $11.42 | $11.24 | $10.60 | $9.72 | $9.00 | $6.61 | $4.84 |
| Shares outstanding | 7.8M | 7.7M | 7.6M | 7.6M | 7.4M | 7.4M | 7.8M | 7.9M | 7.8M | 7.7M |
| Current ratio | 12.72 | 13.78 | 15.20 | 13.07 | 3.54 | 2.63 | 2.55 | 2.55 | 1.84 | 0.90 |
| Quick ratio | 12.59 | 13.62 | 15.04 | 12.91 | 3.40 | 2.50 | 2.50 | 2.50 | 1.65 | 0.74 |
| Debt / equity | 0.41 | 0.44 | 0.45 | 0.46 | 0.01 | 0.00 | 0.23 | 0.31 | 0.50 | 0.81 |
| Equity / assets | 60.9% | 60.0% | 60.2% | 60.1% | 81.7% | 82.5% | 68.5% | 64.8% | 52.6% | 44.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $35.4M | $73.1M | $72.0M | $72.4M | $70.3M | $67.6M | $65.0M | $63.9M | $62.0M | $59.6M | $59.6M | $60.5M |
| Cash & equivalents | $35.4M | $73.1M | $72.0M | $72.4M | $70.3M | $67.6M | $65.0M | $63.9M | $62.0M | $59.6M | $59.6M | $60.5M |
| Short-term investments | $13,000 | $13,000 | $12,000 | $12,000 | $11,000 | $11,000 | $11,000 | $11,000 | $11,000 | $11,000 | $11,000 | $10,000 |
| Receivables | $3.4M | $3.3M | $3.4M | $3.3M | $3.3M | $3.5M | $3.9M | $3.5M | $3.2M | $3.1M | $2.7M | $2.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | −$2.2M | −$2.0M |
| Other current assets | $662,000 | $717,000 | $624,000 | $797,000 | $559,000 | $666,000 | $607,000 | $817,000 | $390,000 | $731,999 | $2.8M | $2.7M |
| Total current assets | $39.5M | $77.1M | $76.0M | $76.5M | $74.2M | $71.8M | $69.5M | $68.3M | $65.6M | $63.4M | $62.9M | $63.7M |
| Property, plant & equipment (net) | $860,000 | $998,000 | $1.1M | $1.2M | $1.2M | $1.3M | $1.4M | $1.4M | $1.4M | $1.5M | $488,000 | $600,000 |
| Goodwill & intangible assets | $82.3M | $82.3M | $82.3M | $82.6M | $82.4M | $82.3M | $82.3M | $82.3M | $82.3M | $82.3M | $81.5M | $81.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $180,000 | $181,000 | $183,000 | $182,000 | $182,000 | $182,000 | $182,000 | $183,000 | $183,000 | $182,000 | $163,000 | $156,000 |
| Total assets | $122.8M | $160.5M | $159.6M | $160.5M | $158.0M | $155.5M | $153.3M | $152.1M | $149.5M | $147.3M | $145.0M | $145.7M |
| Liabilities | ||||||||||||
| Short-term debt | $391,000 | $40.4M | $40.3M | $365,000 | $356,000 | $348,000 | $340,000 | $332,000 | $293,000 | $289,000 | $186,000 | $279,000 |
| Total current liabilities | $4.2M | $43.4M | $40.3M | $6.0M | $4.8M | $4.0M | $3.8M | $5.0M | $3.8M | $3.2M | $2.8M | $4.2M |
| Long-term debt | $0 | $0 | $0 | $39.8M | $39.7M | $39.6M | $39.6M | $39.5M | $39.4M | $39.3M | $39.2M | $39.2M |
| Lease obligations | $425,000 | $516,000 | $606,000 | $695,000 | $781,000 | $864,000 | $946,000 | $1.0M | $1.1M | $1.2M | $186,000 | $279,000 |
| Other long-term liabilities | $17.4M | $17.2M | $20.4M | $16.9M | $17.0M | $16.7M | $16.5M | $16.4M | $16.1M | $15.9M | $14.8M | $14.6M |
| Total liabilities | $21.6M | $60.5M | $60.6M | $62.7M | $61.5M | $60.3M | $59.9M | $60.8M | $59.3M | $58.4M | $56.8M | $58.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $24.5M | $24.2M | $23.8M | $23.5M | $23.5M | $23.2M | $22.9M | $22.6M | $22.6M | $22.3M | $22.1M | $21.8M |
| Retained earnings (deficit) | $76.6M | $75.8M | $75.1M | $74.3M | $73.0M | $72.0M | $70.5M | $68.7M | $67.6M | $66.6M | $66.1M | $66.0M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | $0 | — |
| Total shareholders' equity | $101.1M | $100.0M | $98.9M | $97.7M | $96.5M | $95.2M | $93.4M | $91.3M | $90.2M | $88.9M | $88.2M | $87.8M |
| Key figures | ||||||||||||
| Total debt | $425,000 | $40.5M | $40.7M | $40.5M | $40.5M | $40.5M | $40.5M | $40.5M | $40.5M | $40.5M | $39.4M | $39.4M |
| Net cash (debt) | $34.9M | $32.6M | $31.2M | $31.9M | $29.8M | $27.1M | $24.5M | $23.4M | $21.6M | $19.1M | $20.2M | $21.0M |
| Working capital | $35.3M | $33.8M | $35.7M | $70.5M | $69.4M | $67.7M | $65.7M | $63.3M | $61.8M | $60.3M | $60.1M | $59.5M |
| Tangible book value | $18.9M | $17.8M | $16.7M | $15.2M | $14.1M | $12.9M | $11.1M | $9.1M | $7.9M | $6.7M | $6.7M | $6.5M |
| Book value per share | $12.58 | $12.50 | $12.42 | $12.39 | $12.13 | $12.03 | $11.88 | $11.83 | $11.66 | $11.55 | $11.49 | $11.52 |
| Shares outstanding | 8.0M | 8.0M | 8.0M | 7.9M | 8.0M | 7.9M | 7.9M | 7.7M | 7.7M | 7.7M | 7.7M | 7.6M |
| Current ratio | 9.39 | 1.78 | 1.89 | 12.72 | 15.58 | 17.79 | 18.29 | 13.78 | 17.39 | 20.01 | 22.62 | 15.20 |
| Quick ratio | 9.23 | 1.76 | 1.87 | 12.59 | 15.46 | 17.62 | 18.13 | 13.62 | 17.28 | 19.78 | 22.41 | 15.04 |
| Debt / equity | 0.00 | 0.40 | 0.41 | 0.41 | 0.42 | 0.43 | 0.43 | 0.44 | 0.45 | 0.46 | 0.45 | 0.45 |
| Equity / assets | 82.4% | 62.3% | 62.0% | 60.9% | 61.1% | 61.2% | 60.9% | 60.0% | 60.3% | 60.4% | 60.8% | 60.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 3, 2025); data from EODHD.
HNNA financial position
At the end of fiscal 2025 (September 30, 2025), Hennessy Advisors had total assets of $160.5 million (up 5.5% from a year earlier), total liabilities of $62.7 million and shareholders' equity of $97.7 million. It held $72.4 million in cash and short-term investments against $40.5 million of debt, a net cash position of $31.9 million. Its current ratio was 12.72. In the latest quarter (ended June 30, 2026) total assets were $122.8 million and equity $101.1 million.
Related: HNNA income statement, HNNA cash flow statement, HNNA key metrics. See the HNNA stock overview for the latest quote and news.
HNNA balance sheet FAQ
What are Hennessy Advisors's total assets?
Hennessy Advisors reported total assets of $160.5 million at the end of fiscal 2025 (September 30, 2025), compared with $152.1 million a year earlier.
How much debt does Hennessy Advisors have?
Hennessy Advisors had $40.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.41.
How much cash does Hennessy Advisors have?
Hennessy Advisors held $72.4 million in cash and short-term investments at the end of fiscal 2025; with $40.5 million of debt that is net cash of $31.9 million.
What is Hennessy Advisors's book value?
Hennessy Advisors's shareholders' equity (book value) was $97.7 million at the end of fiscal 2025, or $12.48 per share.
What is Hennessy Advisors's current ratio?
Hennessy Advisors had current assets of $76.5 million and current liabilities of $6.0 million, a current ratio of 12.72 (it can cover its short-term obligations).