HNNA
HENNESSY ADVISORS INC
Financials • CIK: 0001145255
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Market Cap
$75.03M
P/E (TTM)
8.3x
Rev Growth (TTM)
+2.8%
Net Margin (TTM)
26.5%
FCF Yield (TTM)
15.8%
FCF Margin (TTM)
34.7%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$12M
Q1 '26
$601000-83%
Q4 '25
$4M-8%
FCF Margin
TTM34.7%
Q1 '267.2%-83%
Sector: 22.2%Top 25%
OCF Margin35.8%
OCF/NI1.35x
CapEx Coverage31.9x
FCF Yield15.8%
FCF Growth (2Y)+18%
Cash Conversion Cycle
0 days
DSO: 0+DIO: –−DPO: –
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldEst.
Est.5.8%
Div Yield5.8%
+Est. Buyback6.0%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)5.8%
FCF Payout Ratio37.0%
Free Cash Flow (TTM)$11.8M
Capital Return / FCF35.6%
Est. Dividends Paid (TTM)$4.4M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
–
P25MedianP75
(med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
–
Asset Turnover
0.22x
8Q: 0.21x
Leverage (1+D/E)
1.00x
D/E: 0.00x
Asset & CapEx Efficiency
Fixed Asset Turn
72.85x
8Q:90.66x
-3806.2%
CapEx/Depreciation
1.26x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $34.1M | $8.3M↓2.1% | $8.5M↑5.5% | $8.1M↓13.2% | $9.3M↓4.4% | $9.7M↑10.6% | $8.8M↑12.8% | $7.8M↑12.2% | $6.9M |
Operating Income | $11.9M | $2.6M↓13.6% | $3.0M↑5.8% | $2.8M↓17.4% | $3.5M↓9.9% | $3.8M↑30.4% | $2.9M↑13.7% | $2.6M↑34.7% | $1.9M |
Net Income | $9.1M | $1.9M↓20.3% | $2.4M↑14.2% | $2.1M↓17.9% | $2.6M↓8.9% | $2.8M↑21.7% | $2.3M↑14.7% | $2.0M↑31.8% | $1.5M |
Operating Cash Flow | $12.2M | $661.0K↓82.6% | $3.8M↓5.5% | $4.0M↑7.2% | $3.7M↑67.6% | $2.2M↓35.0% | $3.4M↓3.3% | $3.6M↑89.6% | $1.9M |
Free Cash Flow | $11.8M | $601.0K↓83.4% | $3.6M↓8.3% | $3.9M↑7.8% | $3.7M↑73.1% | $2.1M↓36.5% | $3.3M↓3.4% | $3.5M↑91.6% | $1.8M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
8.3x
Volatile
8Q: 34.1x+878%
Valuation Lenses
Earnings
8.3x
vs – sector
Cash Flow
3.4x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: –
Shareholder Returns
Dividend
5.8%
Buyback
–
Total Yield
5.8%
Market Cap$75.03M
EV$40.06M
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
70/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
9.4%
8Q:–
Return on Invested Capital (ROIC)
–
8Q:–
vs Sector:0.1%
Earnings Quality
Cash Conversion
1.35x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin–
Capital Efficiency
Invested Capital Turnover–
Working Capital
Cash Conversion Cycle0 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
62/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
2.8%
OpInc Growth YoY
-32.0%
EPS Growth YoY
2.7%
FCF 3Y CAGR
17.7%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
—
Operating
—
Net
26.5%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+8.1 pts
FCF: 34.7% | Net: 26.5%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $71.98M
Interest Coverage
–
+Net cash position: $71.98M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis