Hennessy Advisors (HNNA)
Market Price (12/4/2025): $10.03 | Market Cap: $78.1 MilSector: Financials | Industry: Asset Management & Custody Banks
Hennessy Advisors (HNNA)
Market Price (12/4/2025): $10.03Market Cap: $78.1 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 4.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 10%, FCF Yield is 13% | Weak multi-year price returns3Y Excs Rtn is -26% | |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.36 | |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% | ||
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36% | ||
| Low stock price volatilityVol 12M is 41% | ||
| Megatrend and thematic driversMegatrends include Investment Management. Themes include Active Mutual Fund Management, Traditional Investment Products, and Value-Oriented Investing. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 4.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 10%, FCF Yield is 13% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 32% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 38%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36% |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Investment Management. Themes include Active Mutual Fund Management, Traditional Investment Products, and Value-Oriented Investing. |
| Weak multi-year price returns3Y Excs Rtn is -26% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.36 |
Valuation, Metrics & Events
HNNA Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
The requested time period of August 31, 2025, to December 4, 2025, is in the future. As an AI, I do not have access to future market data or events, and therefore cannot provide an analysis of why Hennessy Advisors (HNNA) stock moved by -10.4% during this future period.
Publicly available information indicates that Hennessy Advisors, Inc. reported strong fiscal 2025 results for the year ended September 30, 2025, with increased revenue, net income, and earnings per share. As of December 3, 2025, Hennessy Advisors' market capitalization was $80.45 million, having increased by 0.94% in one year. However, this information does not reflect a -10.4% decline in the specified future period.
1. Information regarding future stock movements and their specific causes for the requested period is not available.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HNNA Return | -10% | 32% | -17% | -14% | 103% | -16% | 45% |
| Peers Return | 18% | 14% | -11% | 8% | 1% | 1% | 33% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| HNNA Win Rate | 50% | 58% | 33% | 25% | 75% | 40% | |
| Peers Win Rate | 50% | 40% | 28% | 45% | 38% | 36% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| HNNA Max Drawdown | -38% | -3% | -18% | -18% | -3% | -30% | |
| Peers Max Drawdown | -31% | -10% | -25% | -9% | -9% | -13% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRTS, SLRC, DHIL, GEG, FGNX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | HNNA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -43.9% | -25.4% |
| % Gain to Breakeven | 78.3% | 34.1% |
| Time to Breakeven | 406 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.9% | -33.9% |
| % Gain to Breakeven | 78.3% | 51.3% |
| Time to Breakeven | 326 days | 148 days |
| 2018 Correction | ||
| % Loss | -57.8% | -19.8% |
| % Gain to Breakeven | 136.9% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -91.3% | -56.8% |
| % Gain to Breakeven | 1055.6% | 131.3% |
| Time to Breakeven | 2091 days | 1480 days |
Compare to VRTS, SLRC, DHIL, GEG, FGNX
In The Past
Hennessy Advisors's stock fell -43.9% during the 2022 Inflation Shock from a high on 10/27/2021. A -43.9% loss requires a 78.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Trade Ideas
Select past ideas related to HNNA. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Hennessy Advisors
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 13.18 |
| Mkt Cap | 0.3 |
| Rev LTM | 68 |
| Op Inc LTM | 28 |
| FCF LTM | 5 |
| FCF 3Y Avg | 13 |
| CFO LTM | 5 |
| CFO 3Y Avg | 13 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -3.7% |
| Rev Chg 3Y Avg | 10.2% |
| Rev Chg Q | 0.7% |
| QoQ Delta Rev Chg LTM | 0.1% |
| Op Mgn LTM | 24.6% |
| Op Mgn 3Y Avg | 22.7% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | -6.2% |
| CFO/Rev 3Y Avg | 13.6% |
| FCF/Rev LTM | -7.6% |
| FCF/Rev 3Y Avg | 12.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.3 |
| P/S | 2.7 |
| P/EBIT | 4.9 |
| P/E | 9.3 |
| P/CFO | 7.3 |
| Total Yield | 16.6% |
| Dividend Yield | 4.3% |
| FCF Yield 3Y Avg | 8.7% |
| D/E | 1.1 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.0% |
| 3M Rtn | -14.4% |
| 6M Rtn | -1.2% |
| 12M Rtn | -10.9% |
| 3Y Rtn | 31.3% |
| 1M Excs Rtn | 3.0% |
| 3M Excs Rtn | -21.1% |
| 6M Excs Rtn | -15.9% |
| 12M Excs Rtn | -14.6% |
| 3Y Excs Rtn | -43.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 8062025 | 10-Q 6/30/2025 |
| 3312025 | 5072025 | 10-Q 3/31/2025 |
| 12312024 | 2132025 | 10-Q 12/31/2024 |
| 9302024 | 12112024 | 10-K 9/30/2024 |
| 6302024 | 8082024 | 10-Q 6/30/2024 |
| 3312024 | 5082024 | 10-Q 3/31/2024 |
| 12312023 | 2082024 | 10-Q 12/31/2023 |
| 9302023 | 12072023 | 10-K 9/30/2023 |
| 6302023 | 8022023 | 10-Q 6/30/2023 |
| 3312023 | 5102023 | 10-Q 3/31/2023 |
| 12312022 | 2092023 | 10-Q 12/31/2022 |
| 9302022 | 12072022 | 10-K 9/30/2022 |
| 6302022 | 8032022 | 10-Q 6/30/2022 |
| 3312022 | 5112022 | 10-Q 3/31/2022 |
| 12312021 | 2102022 | 10-Q 12/31/2021 |
| 9302021 | 11242021 | 10-K 9/30/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Newton Kiera | 9292025 | Sell | 10.73 | 390 | 4,185 | 180,961 | Form | |
| 1 | Newton Kiera | 9252025 | Sell | 11.00 | 3 | 33 | 189,805 | Form | |
| 2 | SEAVEY THOMAS L | 8182025 | Sell | 10.70 | 2,698 | 28,878 | 567,580 | Form | |
| 3 | SEAVEY THOMAS L | 8142025 | Sell | 10.85 | 7,000 | 75,961 | 688,306 | Form | |
| 4 | Fahy Kathryn | SVP and CFO | 5142025 | Sell | 10.71 | 10,000 | 107,118 | 687,815 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |