ROARABLE
FREE $100K
My Trading Account →
▾
Trading Profile Active
Active Trader
Verified Trader
⚡ My $100K Trading Account → ★ My Saved Watchlist →
🟢 My $100K Account → Today Screener Big Ideas Track Record 💰 $100K Arena 🎲 Predictions 🏛️ Insiders 8 Analysts
Stock Ratings / Financials / HNNA / financials
DTF (50) BVC (46) GGZ (42) SAMG (67) ⌘ Pro Terminal →

Hennessy Advisors Inc. (HNNA) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$10.29 +0.39% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $10.32

Hennessy Advisors Inc. (HNNA) earns a Roarable Rating of B+ (Buy) with 77/100 RQD Confidence. High-quality cash engine (steady margins, 39% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B+ • BUY Cap $81.0M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on HNNA Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is HNNA stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
▼

As of 2026-11-03, Hennessy Advisors Inc. (NASDAQ: HNNA) is rated B+ (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 77/100 at a spot price of $10.29 (+0.39% 1D, market cap $81.0M). Pillar breakdown: Fundamental Cash Engine 19/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 15/20, and Executive Insider Alignment 19/20. Across 1097 tracked Financials issuers, HNNA ranks #23 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does HNNA compare to DTF and BVC in the Financials sector?
▼

Within the Financials sector (Investment Managers), HNNA carries a Roarable B+ (77/100 RQD), trailing P/E of 8.1x, gross margin of —, and ROIC of 38.5%. By comparison, DTF (DTF Tax-Free Income 2028 Term Fund Inc.) holds a D grade (50/100 RQD, P/E N/A, ROIC —, cap $80.3M) and BVC (BitVentures Limited) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $122.9M). Among the 5-stock peer group, HNNA leads on earnings multiple (8.1x) while SAMG leads on capital efficiency (85.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for HNNA?
▼

Per HNNA's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0001145255), Hennessy Advisors Inc. generated $35.5M in revenue (+19.9% YoY), $10.0M in net income, and $13.4M in free cash flow against $159.6M in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $10.32 (+0.31%)🧬 Cannibal Buyback (-3.20% YoY Shares)⚙️ Cash Engine: 19/20 (A+) • 37.6% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 77/100 (B+) historically ranked in the Top 10% of excess returns over the next 90 days (+7.8% avg 90D alpha vs SPY • 70.3% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERBUY • B+
025507510077
3-of-3 Quant Analysts Bullish
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw B+ · Rk B
Cash (19)Whales (9)SEC (15)Macro (15)CEO (19)
Each axis scored 0–20
12M PRICE TARGET CONE+8.6% Base Target
$13 Bull$11 Base$8 Bear
📬 FREE HNNA RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for HNNA)Realized 20D OHLCV Swing Band: ±4.1%
Deterministic 5-Pillar Attribution (77/100 Composite)
🔍 WHY HNNA SCORES 77/100 (B+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Cash Engine Quality+19/20 pts (25% of score)

SEC XBRL FY 2025 (10-K): 37.6% FCF Margin ($13.4M FCF) & 52% Gross Margin

▲ #2 Bullish Driver: Insider Conviction & Share Dilution+19/20 pts (25% of score)

SEC Form 4 / 13F Thermometer: 86% Net Buy • Cannibal Buyback (-3.20% YoY Shares)

▼ #1 Drag / Risk Factor: Whale & Options Positioning9/20 pts (-11 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-11 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
85
Grade A$10.31-0.4% Next Q
Q2 (-2Q)
82
Grade A$10.27-0.2% Next Q
Q3 (-1Q)
80
Grade A-$10.25+0.4% Next Q
Current
77
Grade B+$10.29+7.8% Hist 90D α
Trajectory: A (85) → B+ (77)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the HNNA Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 77/100 (B+) score, HNNA faces multiple-compression risk if 8.1x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Broader market pullbacks can still drag down strong stocks in the short run.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-3.20% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($10.23) or 200D SMA ($10.04) invalidates the momentum regime and cuts Target Base ($11.17) toward Bear Floor ($8.44).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $HNNA• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “HNNA Beats Next Quarter EPS Consensus (Dec 29, 2026) & Holds Above 200D SMA”
YES 77%NO 23%Trade / Inspect Odds →
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How HNNA Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$13.4M (37.6% FCF Margin)
Revenue$35.5MGross Profit $18.5M (52%)Cost of Sales $17.1MOp Profit $13.1M (37%)OpEx (R&D/SG&A) $5.3MNet Profit$10.0M (28%)Tax/Other $3.2M

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $24.0M
FY24
Rev $29.6M
FY25
Rev $35.5M
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$35.5M52%37%$10.0M$13.4M38.5%
FY 2024$29.6M52%29.9%$7.1M$9.0M24.7%
FY 2023$24.0M52%26.4%$4.8M$7.1M38.5%
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring HNNA)

  • ✓Walkthrough of HNNA's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?
Join Founding VIP Waitlist (No Card Required) →$100K Arena
HNNA // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +3.73%▲ ASCENDING CHANNEL
2026-11-03O $10.19H $10.29L $10.19C $10.29VOL 3.5K
RES: $11.00SUP: $10.00SMA50: $10.23SMA200: $10.04
$10.94$10.58$10.23$9.87$9.52RES $11.00SUP $10.00$10.292026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

HNNA Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 HNNA Butterfly Map → + Track HNNA →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
-5.2%/yr Implied 5Y Growth

vs. +19.9% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on HNNA today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for HNNA. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for HNNA today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (HNNA)

Financials Rank #23 of 1097 ⚔️ DTF vs HNNA Full Matrix →

1. Head-to-Head Financials Peer Comparison (HNNA vs. DTF, BVC, GGZ, SAMG)

Industry: Investment Managers (79 Tracked Issuers)

Across 1097 tracked Financials securities in the Roarable RQD universe, Hennessy Advisors Inc. (HNNA) ranks #23 by composite RQD confidence (77/100, grade B+) and #986 by equity capitalization ($81.0M). Within this direct 5-issuer industry benchmark cohort, HNNA leads on earnings valuation at 8.1x trailing P/E, while SAMG leads on capital efficiency and profitability with 85.0% ROIC and — gross margin. HNNA currently leads its immediate peer cohort in composite quantitative strength at 77/100 (B+).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
HNNA ACTIVE
Hennessy Advisors Inc.
B+ 77/100 8.1x — 38.5% +0.39% $81.0M Benchmark Subject
DTF
DTF Tax-Free Income 2028 Term Fund Inc.
D 50/100 — — — -0.04% $80.3M /dtf-vs-hnna →
BVC
BitVentures Limited
D 46/100 — — — -3.24% $122.9M /bvc-vs-hnna →
GGZ
Gabelli Global Small and Mid Cap Value Trust of
D- 42/100 — — — +1.28% $131.3M /ggz-vs-hnna →
SAMG
Silvercrest Asset Management Group Inc. (Class A)
C+ 67/100 15.2x — 85.0% -2.95% $132.5M /samg-vs-hnna →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-09-30 • CIK 0001145255 ↗

In its most recent audited fiscal period (FY2025, filed 2025-09-30), Hennessy Advisors Inc. (HNNA) reported GAAP revenue of $35.5M (+19.9% vs. FY2024 revenue of $29.6M , and +48.0% cumulative change since FY2023) , GAAP net income of $10.0M, operating cash flow of $13.8M, and free cash flow of $13.4M (+49.0% YoY). On the balance sheet, HNNA closed FY2025 with $159.6M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 8/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-09-30 $35.5M $10.0M $13.8M $13.4M $159.6M —
FY2024 (FY) 2024-09-30 $29.6M $7.1M $9.3M $9.0M $153.3M —
FY2023 (FY) 2023-09-30 $24.0M $4.8M $7.1M $7.1M — —

3. HNNA Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is HNNA stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Hennessy Advisors Inc. (NASDAQ: HNNA) is rated B+ (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 77/100 at a spot price of $10.29 (+0.39% 1D, market cap $81.0M). Pillar breakdown: Fundamental Cash Engine 19/20, Institutional 13F & Options Flow 9/20, SEC Balance-Sheet Forensics 15/20, FRED Macro Regime Fit 15/20, and Executive Insider Alignment 19/20. Across 1097 tracked Financials issuers, HNNA ranks #23 in composite RQD confidence.

How does HNNA compare to DTF and BVC in the Financials sector?

Within the Financials sector (Investment Managers), HNNA carries a Roarable B+ (77/100 RQD), trailing P/E of 8.1x, gross margin of —, and ROIC of 38.5%. By comparison, DTF (DTF Tax-Free Income 2028 Term Fund Inc.) holds a D grade (50/100 RQD, P/E N/A, ROIC —, cap $80.3M) and BVC (BitVentures Limited) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $122.9M). Among the 5-stock peer group, HNNA leads on earnings multiple (8.1x) while SAMG leads on capital efficiency (85.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for HNNA?

Per HNNA's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-09-30, CIK 0001145255), Hennessy Advisors Inc. generated $35.5M in revenue (+19.9% YoY), $10.0M in net income, and $13.4M in free cash flow against $159.6M in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Broader market pullbacks can still drag down strong stocks in the short run. Institutional options positioning shows a 50% call / 50% put premium split.

Where is HNNA trading relative to its 50-day, 200-day, and 52-week technical levels?

HNNA last traded at $10.29 (+0.39% on volume of 3,817 shares), positioning the stock +0.59% above its 50-day simple moving average ($10.23) and +2.49% above its 200-day simple moving average ($10.04). Across its 52-week range of $9.20 to $10.87, HNNA sits at the 65.3% percentile with a 14-day RSI of 50.8 (NEUTRAL RANGE) and an implied next-earnings move of ±4.1% ($9.87 to $10.71).

Direct Sub-Reports: HNNA RQD Cockpit HNNA 12M Forecast HNNA Earnings & Move HNNA Dividends & DRIP HNNA Insiders & 13F HNNA Whale Options HNNA Profit Sankey HNNA News & Why
ROARABLE RATING BRIEF • RQD 77/100 (B+) ✓ SEC XBRL & RQD VERIFIED

HNNA — Hennessy Advisors Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-09-30

1. Roarable Rating Brief: What This Means to a Prospective Investor

Hennessy Advisors Inc. (HNNA) earns a live Roarable RQD composite score of 77/100, corresponding to a B+ letter grade (Roarable Buy) at a spot price of $10.29 (+0.39% 1D, market capitalization $81.0M).

  • Fundamental Cash Engine (19/20): Anchored by return on invested capital (ROIC) of 38.5%, gross margin of —, operating margin of 37.0%, and free cash flow yield of 16.58%.
  • Whale 13F & Options Flow (9/20) + Insider Conviction (19/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (15/20) + Forensic Balance Sheet (15/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 8/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Hennessy Advisors Inc. Is a NASDAQ-listed issuer in the Financials sector, operating in the Investment Managers industry. The market capitalization is $0.1B. — for product detail, customer base, or revenue model beyond the sector and industry classification.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-09-30), Hennessy Advisors Inc. (HNNA) reported $35.5M in annual revenue (up from $29.6M in FY2024, +19.9% YoY) and $10.0M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($24.0M revenue, $4.8M net income) through FY2025, HNNA scaled operating cash flow to $13.8M and free cash flow to $13.4M, backed by $159.6M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (B+ • RQD 77/100): Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks. Company leadership has skin in the game with net positive insider conviction. With Fundamental Cash Engine at 19/20 and Institutional Whale Flow at 9/20, sustained execution supports upside toward the upper end of the $9.20 – $10.87 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Broader market pullbacks can still drag down strong stocks in the short run. Investors must weigh 8.1x trailing P/E and 3.0x EV/EBITDA against 37.0% operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

The supply chain is NONE, with no upstream or downstream links and no proprietary signals listed. — for upstream or downstream dependencies, sector correlations, or second-order bottlenecks. The only sector context available is the Financials / Investment Managers classification.

  • Key Question #1: Can HNNA sustain or expand its 37.0% operating margin and 38.5% ROIC against Investment Managers peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $35.5M and free cash flow of $13.4M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is HNNA's 6.8x forward P/E multiple to Financials capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

HNNA Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Hennessy Advisors Inc. (HNNA) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to HNNA Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

HNNA Bull vs. Bear Conversation Board — What's Your Call at $10.29?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON HNNA 🐻 33% BEARISH CONVICTION
1. Pick Your Side on HNNA:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
MI MidwestValue RQD DEBATE OPENER • Fundamental Long-Only 🐂 BULLISH 🎯 Target: $12.20 (+19.0%)
📌 Pinned Debate

Per the Roarable RQD rating, a 38.5% ROIC and 16.58% FCF yield at a P/E of 8.1 indicate strong cash generation against a small equity v

Don't sleep on HNNA's setup in Financials. Per the Roarable RQD rating, a 38.5% ROIC and 16.58% FCF yield at a P/E of 8.1 indicate strong cash generation against a small equity value.. Beta of 1.0 means it moves fast when momentum turns, and the 5-pillar RQD gauge (77/100) backs up the fundamental quality.

ArenaChamp_24 🐂 BULL

@MidwestValue Agree on the RQD 77/100 quality, though with 1.0 beta I'm scaling in with half-size at $10.25 and keeping dry powder in case we test $9.53.

FA FadeTheHype RQD DEBATE OPENER • Contrarian Tape Reader 🐻 BEARISH 🎯 Target: $8.61 (-16.0%)
Spot @ $10.25

Valuation & margin reality check on HNNA at $10.25 before chasing here

Here is the bear case nobody on the bull side wants to address on HNNA: Valuation & margin reality check on HNNA at $10.25 before chasing here. At 8.1x trailing P/E, even a small guidance miss in Investment Managers triggers a 12-15% air pocket.

LIVE TAPE