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1. Company Snapshot

1.a. Company Description

Hennessy Advisors, Inc.is publicly owned investment manager.It provides its services to Hennessy Funds and investment companies.


The firm launches and manages equity, fixed income, and balanced mutual funds.It invests in the public equity and fixed income markets across the globe.The firm primarily invests in growth stocks of companies.


It conducts in-house research to make its investments.Hennessy Advisors, Inc.was founded in 1989 and is based in Novato, California with additional offices in Boston, Massachusetts and Chapel Hill, North Carolina.

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1.b. Last Insights on HNNA

Hennessy Advisors, Inc. faced negative drivers, including a lack of recent earnings release information. However, the company announced a quarterly dividend of $0.1375 per share on October 29, 2025, representing an annualized dividend yield of 5.77%. Additionally, the firm made a new $145,000 investment in NVIDIA Corporation, purchasing 920 shares. This strategic move may indicate a shift in investment focus. Notably, no share buyback information was available, and there were no reported legal issues or new product announcements.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Hennessy Advisors, Inc. Reports Strong Fiscal 2025 Results with 38% Increase in Annual Earnings Per Share

Dec -03

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Critical Survey: Hennessy Advisors (NASDAQ:HNNA) vs. Sprott (NYSE:SII)

Dec -03

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Hennessy Advisors, Inc. Announces Dividend

Oct -29

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Hennessy Advisors Inc. Makes New $145,000 Investment in NVIDIA Corporation $NVDA

Oct -22

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HNNA Earnings Rise on Higher Revenue

Aug -07

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Hennessy Advisors, Inc. Reports Quarterly Earnings and Announces Quarterly Dividend

Aug -06

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Hennessy Advisors, Inc. Reports 65% Increase in Quarterly Earnings Per Share and Announces Quarterly Dividend

May -07

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Hennessy Advisors, Inc. to Acquire STF Management ETFs and Welcome Portfolio Manager Jonathan Molchan

Mar -14

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.17%)

6. Segments

Investment Advisory

Expected Growth: 8.5%

Growing demand for investment advisory services, increasing adoption of equity and fixed income strategies, and expansion into institutional client base drive Hennessy Advisors' growth.

Shareholder Service

Expected Growth: 4.5%

Growing demand for personalized investment support, increasing adoption of digital platforms, and rising need for informed investment decisions drive the growth of Hennessy Advisors' Shareholder Service.

7. Detailed Products

Mutual Funds

Hennessy Advisors, Inc. offers a range of mutual funds that cater to different investment objectives and risk tolerance levels, providing investors with diversified portfolios and professional management.

Exchange-Traded Funds (ETFs)

Hennessy Advisors, Inc. offers a suite of ETFs that track various market indexes, providing investors with diversified exposure to different asset classes and sectors.

Separately Managed Accounts (SMAs)

Hennessy Advisors, Inc. offers SMAs, which provide investors with customized investment portfolios managed by experienced investment professionals.

Model Portfolios

Hennessy Advisors, Inc. offers model portfolios that provide investors with diversified investment portfolios based on their risk tolerance and investment objectives.

8. Hennessy Advisors, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Hennessy Advisors, Inc. operates in the financial services industry, which has a moderate threat of substitutes. While there are alternative investment options available, the company's diversified portfolio and expertise in asset management provide a competitive edge.

Bargaining Power Of Customers

Hennessy Advisors, Inc. has a diverse client base, which reduces the bargaining power of individual customers. The company's strong brand reputation and customized investment solutions also contribute to its ability to maintain pricing power.

Bargaining Power Of Suppliers

Hennessy Advisors, Inc. has a diversified supplier base, which reduces dependence on individual suppliers. The company's scale and reputation also provide negotiating power in sourcing high-quality investment products and services.

Threat Of New Entrants

The financial services industry has high barriers to entry, including regulatory requirements and capital requirements. Hennessy Advisors, Inc.'s established brand and expertise in asset management create a significant moat against new entrants.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players competing for market share. Hennessy Advisors, Inc. faces intense competition from other asset managers and financial institutions, which can lead to pricing pressure and margin compression.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 31.01%
Debt Cost 7.79%
Equity Weight 68.99%
Equity Cost 7.79%
WACC 7.79%
Leverage 44.95%

11. Quality Control: Hennessy Advisors, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Gladstone Capital

A-Score: 7.2/10

Value: 6.9

Growth: 6.1

Quality: 8.0

Yield: 10.0

Momentum: 3.0

Volatility: 9.3

1-Year Total Return ->

Stock-Card
Horizon Technology Finance

A-Score: 7.0/10

Value: 8.2

Growth: 3.7

Quality: 6.1

Yield: 9.0

Momentum: 5.0

Volatility: 10.0

1-Year Total Return ->

Stock-Card
TriplePoint Venture Growth BDC

A-Score: 6.7/10

Value: 7.8

Growth: 4.0

Quality: 8.1

Yield: 10.0

Momentum: 3.0

Volatility: 7.0

1-Year Total Return ->

Stock-Card
Grosvenor Capital Management

A-Score: 6.5/10

Value: 4.9

Growth: 4.3

Quality: 6.0

Yield: 8.0

Momentum: 6.0

Volatility: 10.0

1-Year Total Return ->

Stock-Card
Hennessy Advisors

A-Score: 6.5/10

Value: 7.8

Growth: 2.7

Quality: 8.0

Yield: 9.0

Momentum: 6.0

Volatility: 5.3

1-Year Total Return ->

Stock-Card
Portman Ridge Finance

A-Score: 5.7/10

Value: 6.0

Growth: 4.7

Quality: 3.2

Yield: 10.0

Momentum: 0.5

Volatility: 10.0

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

10.05$

Current Price

10.05$

Potential

-0.00%

Expected Cash-Flows