Hennessy Advisors, Inc. (HNNA) Key Metrics
HNNA valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $81.0M
- Enterprise value
- $47.0M
- P/E (TTM)
- 9.8 10-yr median 8.6
- Forward P/E
- 5.1
- PEG ratio
- 0.71
- Price / sales
- 2.4 10-yr median 2.2
- Price / book
- 0.8 10-yr median 0.8
- EV / EBITDA
- 3.3 10-yr median 4.6
- Dividend yield
- 5.85% $0.60 a year
- Beta
- 0.54
HNNA key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsHNNA valuation Price multiples at each fiscal year-end price.
HNNA returns How much profit the business earns on the capital it uses.
HNNA per-share figures Results divided by the shares outstanding at year-end.
HNNA financial health Debt, liquidity and how easily interest is covered.
HNNA efficiency & capital use Working capital cycle and where the cash goes.
HNNA valuation history
HNNA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HNNA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HNNA cash returned to shareholders
HNNA price vs earnings per share
HNNA key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $81.8M | $76.8M | $50.6M | $65.5M | $71.3M | $61.2M | $84.0M | $109.3M | $120.3M | $182.5M |
| Enterprise value | $49.9M | $53.4M | $29.6M | $46.5M | $56.4M | $51.5M | $76.7M | $105.6M | $130.5M | $209.1M |
| P/E ratio | 8.2 | 10.8 | 10.6 | 10.6 | 9.0 | 7.8 | 7.6 | 5.3 | 8.1 | 12.7 |
| Price / sales | 2.3 | 2.6 | 2.1 | 2.2 | 2.2 | 1.8 | 2.0 | 2.0 | 2.3 | 3.5 |
| Price / book | 0.8 | 0.8 | 0.6 | 0.8 | 0.9 | 0.8 | 1.1 | 1.5 | 2.3 | 4.9 |
| Price / free cash flow | 6.1 | 8.6 | 7.3 | 7.8 | 7.0 | 5.9 | 5.9 | 5.2 | 6.1 | 10.1 |
| Price / operating cash flow | 5.9 | 8.3 | 7.1 | 7.6 | 6.9 | 5.8 | 5.8 | 5.1 | 6.1 | 10.0 |
| EV / sales | 1.4 | 1.8 | 1.2 | 1.6 | 1.7 | 1.5 | 1.8 | 1.9 | 2.5 | 4.1 |
| EV / EBITDA | 3.7 | 5.9 | 4.5 | 4.6 | 5.1 | 4.5 | 4.6 | 4.2 | 5.3 | 8.7 |
| EV / free cash flow | 3.7 | 6.0 | 4.3 | 5.5 | 5.6 | 4.9 | 5.4 | 5.0 | 6.6 | 11.6 |
| Earnings yield | 12.2% | 9.2% | 9.4% | 9.4% | 11.1% | 12.8% | 13.1% | 18.9% | 12.4% | 7.9% |
| Free cash flow yield | 16.3% | 11.7% | 13.7% | 12.9% | 14.2% | 17.1% | 16.9% | 19.4% | 16.4% | 9.9% |
| Dividend yield | 5.1% | 0.0% | 8.1% | 6.2% | 5.6% | 6.5% | 4.2% | 2.6% | 1.8% | 0.8% |
| Shareholder yield (dividends + buybacks) | 5.7% | 0.5% | 8.6% | 6.7% | 6.0% | 11.4% | 10.3% | 3.2% | 2.4% | 0.8% |
| Share price at fiscal year-end | $10.45 | $9.95 | $6.66 | $8.67 | $9.62 | $8.29 | $10.81 | $13.85 | $15.44 | $23.65 |
| Per share | ||||||||||
| Revenue per share | $4.54 | $3.84 | $3.16 | $3.93 | $4.42 | $4.53 | $5.50 | $6.92 | $6.80 | $6.66 |
| Earnings per share | $1.27 | $0.92 | $0.63 | $0.82 | $1.07 | $1.06 | $1.42 | $2.61 | $1.92 | $1.86 |
| Operating cash flow per share | $1.76 | $1.20 | $0.94 | $1.15 | $1.40 | $1.44 | $1.85 | $2.73 | $2.55 | $2.36 |
| Free cash flow per share | $1.71 | $1.16 | $0.91 | $1.12 | $1.37 | $1.42 | $1.83 | $2.68 | $2.52 | $2.33 |
| Cash per share | $9.25 | $8.28 | $7.95 | $7.74 | $2.14 | $1.35 | $3.18 | $3.22 | $2.02 | $0.46 |
| Book value per share | $12.48 | $11.83 | $11.54 | $11.42 | $11.24 | $10.60 | $9.72 | $9.00 | $6.61 | $4.84 |
| Tangible book value per share | $12.48 | $1.17 | $0.85 | $0.72 | $0.35 | −$0.33 | −$0.66 | −$0.91 | −$2.96 | −$4.80 |
| Dividends per share | $0.54 | $0.00 | $0.54 | $0.53 | $0.54 | $0.54 | $0.46 | $0.37 | $0.28 | $0.19 |
| Capex per share | $0.06 | $0.04 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.05 | $0.02 | $0.02 |
| Debt per share | $5.17 | $5.25 | $5.19 | $5.23 | $0.14 | $0.04 | $2.24 | $2.75 | $3.33 | $3.91 |
| Shares outstanding | 7.8M | 7.7M | 7.6M | 7.6M | 7.4M | 7.4M | 7.8M | 7.9M | 7.8M | 7.7M |
| Change in shares outstanding | +1.4% | +1.6% | +0.6% | +2.0% | +0.4% | −5.1% | −1.5% | +1.3% | +0.9% | −13.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 10.5% | 7.9% | 5.5% | 7.3% | 9.8% | 10.2% | 15.1% | 33.7% | 33.6% | 47.6% |
| Return on invested capital (ROIC) | 14.4% | 9.6% | 6.8% | 11.3% | 11.5% | 11.8% | 17.1% | 33.4% | 25.0% | 25.5% |
| Return on assets (ROA) | 6.4% | 4.8% | 3.3% | 5.0% | 8.0% | 7.6% | 10.0% | 19.9% | 16.3% | 18.2% |
| Return on tangible assets | 6.2% | 10.2% | 7.4% | 9.9% | 37.2% | 55.4% | 37.3% | 65.8% | 64.1% | 135.8% |
| Free cash flow margin | 37.6% | 30.2% | 28.8% | 28.5% | 30.9% | 31.3% | 33.2% | 38.8% | 37.1% | 35.0% |
| Income quality (OCF / net income) | 1.38 | 1.31 | 1.50 | 1.40 | 1.31 | 1.35 | 1.30 | 1.04 | 1.33 | 1.27 |
| Financial health | ||||||||||
| Total debt | $40.5M | $40.5M | $39.4M | $39.5M | $1.0M | $330,000 | $17.4M | $21.7M | $26.0M | $30.2M |
| Cash & short-term investments | $72.4M | $63.9M | $60.5M | $58.5M | $15.8M | $10.0M | $24.7M | $25.4M | $15.7M | $3.5M |
| Net debt | −$31.9M | −$23.4M | −$21.0M | −$19.0M | −$14.8M | −$9.6M | −$7.3M | −$3.7M | $10.2M | $26.6M |
| Debt / equity | 0.41 | 0.44 | 0.45 | 0.46 | 0.01 | 0.00 | 0.23 | 0.31 | 0.50 | 0.81 |
| Debt / assets | 0.25 | 0.27 | 0.27 | 0.28 | 0.01 | 0.00 | 0.16 | 0.20 | 0.27 | 0.36 |
| Net debt / EBITDA | −2.38 | −2.57 | −3.21 | −1.89 | −1.34 | −0.83 | −0.44 | −0.15 | 0.41 | 1.10 |
| Current ratio | 12.72 | 13.78 | 15.20 | 13.07 | 3.54 | 2.63 | 2.55 | 2.55 | 1.84 | 0.90 |
| Quick ratio | 12.72 | 13.78 | 15.68 | 13.51 | 4.05 | 3.10 | 2.84 | 2.55 | 1.84 | 0.74 |
| Interest coverage | 5.7 | 3.9 | 2.8 | 4.6 | — | 25.3 | 14.8 | 19.9 | 19.5 | 19.3 |
| Working capital | $70.5M | $63.3M | $59.5M | $56.9M | $14.1M | $8.3M | $17.6M | $18.7M | $10.4M | −$1.1M |
| Invested capital | $65.8M | $67.9M | $66.7M | $67.3M | $68.4M | $68.5M | $68.2M | $67.3M | $61.8M | $64.0M |
| Tangible asset value | $97.7M | $9.1M | $6.5M | $5.4M | $2.6M | −$2.5M | −$5.1M | −$7.2M | −$23.1M | −$37.0M |
| Net current asset value | $13.8M | $7.5M | $5.7M | $4.3M | $1.1M | −$3.2M | −$5.7M | −$7.8M | −$23.5M | −$37.5M |
| Graham number | $18.90 | $15.64 | $12.76 | $14.51 | $16.42 | $15.92 | $17.62 | $22.99 | $16.90 | $14.23 |
| Graham net-net per share | $1.56 | $0.75 | $0.45 | $0.25 | −$0.26 | −$0.78 | −$1.14 | −$1.22 | −$3.47 | −$5.13 |
| Capital allocation | ||||||||||
| Dividends paid | $4.2M | $8,000 | $4.1M | $4.0M | $4.0M | $4.0M | $3.5M | $2.9M | $2.2M | $1.5M |
| Share buybacks (net) | $459,000 | $403,000 | $233,000 | $356,000 | $322,000 | $3.0M | $5.1M | $660,000 | $654,000 | $1,000 |
| Dividend payout ratio | 42.2% | 0.1% | 86.0% | 65.3% | 50.3% | 50.6% | 32.1% | 14.0% | 14.8% | 10.4% |
| Dividends + buybacks / free cash flow | 34.9% | 4.6% | 62.7% | 52.0% | 42.4% | 66.9% | 61.2% | 16.7% | 14.6% | 8.3% |
| Capex / revenue | 1.2% | 1.1% | 0.9% | 0.7% | 0.8% | 0.5% | 0.5% | 0.7% | 0.3% | 0.4% |
| Capex / operating cash flow | 3.2% | 3.4% | 3.0% | 2.5% | 2.4% | 1.6% | 1.4% | 1.7% | 0.9% | 1.0% |
| Capex / depreciation | 1.52 | 1.28 | 0.93 | 1.04 | 1.07 | 0.72 | 0.91 | 1.56 | 0.80 | 0.52 |
| Stock-based compensation / revenue | 3.2% | 3.3% | 4.2% | 4.2% | 4.4% | 5.3% | 5.1% | 4.4% | 4.0% | 2.8% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 17.7% | 23.8% | 22.8% | 38.1% | 38.4% | 39.0% | 13.6% | 10.7% | 11.6% | 11.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 34.9 | 37.4 | 37.6 | 33.7 | 32.6 | 35.3 | 35.7 | 32.0 | 33.5 | 31.5 |
| Days of inventory on hand | — | — | -62.4 | -106.3 | -104.5 | -117.8 | -29.1 | 0.0 | — | 29.9 |
| Days payables outstanding | — | — | — | 36.0 | — | 305.3 | 101.5 | 2.7 | -1.9 | 34.2 |
| Cash conversion cycle (days) | — | — | — | -108.5 | — | -387.8 | -94.9 | 29.3 | 49.9 | 27.2 |
| Receivables turnover | 10.45 | 9.76 | 9.70 | 10.83 | 11.19 | 10.33 | 10.23 | 11.40 | 10.90 | 11.60 |
| Payables turnover | — | — | — | 10.15 | — | 1.20 | 3.60 | 134.94 | — | 10.68 |
| Inventory turnover | — | — | — | — | — | — | — | 48,040,000.00 | — | 12.21 |
| Asset turnover | 0.23 | 0.20 | 0.17 | 0.24 | 0.33 | 0.33 | 0.39 | 0.53 | 0.58 | 0.65 |
| Average receivables | $3.4M | $3.0M | $2.5M | $2.7M | $2.9M | $3.2M | $4.2M | $4.8M | $4.9M | $4.4M |
| Average payables | — | — | — | $820,000 | — | $7.4M | $5.7M | $178,000 | −$117,000 | $2.0M |
| Average inventory | — | — | −$2.0M | −$2.4M | −$2.6M | −$2.8M | −$1.6M | $0 | $891,000 | $1.8M |
| Intangibles / total assets | 0.0% | 54.1% | 55.8% | 56.3% | 79.1% | 85.1% | 73.2% | 71.4% | 76.2% | 87.5% |
Computed from HNNA's annual financial statements (latest annual report filed December 3, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
HNNA valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), Hennessy Advisors traded at 8.2 times earnings, against a 10-year median of 8.6. Based on the latest twelve months, the trailing P/E is 9.8 and the forward P/E is 5.1. Hennessy Advisors earned a return on equity of 10.5% and a return on invested capital of 14.4% in fiscal 2025. It ended the year with $40.5 million of debt and $72.4 million in cash and short-term investments, a net cash position of $31.9 million. It returned $4.7 million to shareholders: $4.2 million in dividends and $0.5 million in share buybacks, 35% of free cash flow.
See the HNNA income statement, the HNNA chart for price history, or the HNNA stock overview for the latest quote and news.
HNNA key metrics FAQ
What is Hennessy Advisors's P/E ratio?
Hennessy Advisors's trailing P/E ratio is 9.8 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 5.1. At the end of fiscal 2025 it was 8.2, compared with a 10-year median of 8.6.
What is Hennessy Advisors's EV/EBITDA?
Hennessy Advisors's enterprise value was 3.7 times EBITDA at the end of fiscal 2025 (enterprise value $49.9 million, EBITDA $13.4 million); the current EV/EBITDA is 3.3.
What is Hennessy Advisors's return on equity?
Hennessy Advisors's return on equity (ROE) was 10.5% in fiscal 2025: net income of $10.0 million on average shareholders' equity of $94.5 million.
What is Hennessy Advisors's ROIC?
Hennessy Advisors's return on invested capital was 14.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Hennessy Advisors have?
Hennessy Advisors had total debt of $40.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.41 and more cash than debt.
What is Hennessy Advisors's dividend yield?
Hennessy Advisors's forward dividend yield is 5.85%. Hennessy Advisors paid $4.2 million in dividends in fiscal 2025 ($0.54 per share), a payout ratio of 42.2%.
Does Hennessy Advisors buy back its shares?
Yes. Hennessy Advisors spent $0.5 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.4% over the year, to 7.8M..
What is Hennessy Advisors's free cash flow yield?
Hennessy Advisors generated $13.4 million of free cash flow in fiscal 2025, a free cash flow yield of 16.3% on its market value at year-end ($81.8 million).
What is Hennessy Advisors's current ratio?
Hennessy Advisors's current ratio was 12.72 at the end of fiscal 2025: current assets were 12.72 times current liabilities.