Hennessy Advisors (HNNA) Cash Flow: Operating & Free Cash Flow

Hennessy Advisors (HNNA) Cash Flow Statement

In fiscal 2025 (fiscal year ended Sep 30, 2025), Hennessy Advisors generated $13.79M of operating cash flow and spent $440.00K on capital expenditures. That left free cash flow of $13.35M, up 49.0% from $8.96M a year earlier, or 37.6% of revenue. It returned $4.66M to shareholders through $4.20M in dividends and $459.00K in share buybacks.

Hennessy Advisors Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Hennessy Advisors, Inc. (HNNA) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017
Operating Activities
Net Income	9.96	7.10	4.77	6.19	7.90	7.84	11.03	20.62	14.94
Depreciation & Amortization	0.29	0.24	0.23	0.21	0.23	0.24	0.23	0.23	0.22
Deferred Income Tax	0.91	1.05	1.12	1.05	0.92	1.25	1.30	-2.58	1.72
Stock Based Compensation	1.12	0.99	1.01	1.24	1.44	1.78	2.18	2.41	2.12
Change in Working Capital	1.18	-0.45	-0.28	-0.28	-0.04	-0.55	-0.46	0.75	0.70
Change in Accounts Receivable	0.25	-0.98	-0.14	0.66	-0.18	0.89	0.97	0.07	-0.10
Change in Inventory	0.00	0.00	0.00	0.00	-0.34	1.73	0.17	0.99	0.00
Change in Accounts Payable	0.48	1.28	-0.16	-0.23	0.34	-1.73	-1.55	-0.27	0.78
Change in Other Working Capital	0.34	-0.18	0.08	0.26	0.44	-1.44	-0.05	-0.04	0.03
Other Operating Activities	0.34	1.39	1.39	0.26	1.90	0.06	0.11	0.10	0.15
Net Cash from Operating Activities	13.79	9.28	7.13	8.67	10.39	10.62	14.39	21.53	19.85
Investing Activities
Capital Expenditures	-0.44	-0.31	-0.22	-0.22	-0.25	-0.17	-0.20	-0.36	-0.18
Sales/Maturities of Investments	0.00	-0.99	-0.60	-0.02	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-0.19	-0.99	-0.60	-0.02	0.00	-0.71	-1.77	-3.54	-0.27
Net Cash from Investing Activities	-0.63	-1.30	-0.82	-0.23	-0.25	-0.88	-1.97	-3.90	-0.45
Financing Activities
Debt Repayment	0.00	0.00	0.00	39.04	0.00	-17.50	-4.38	-4.38	-4.38
Common Stock Issued	0.01	0.03	0.01	0.01	0.04	0.02	0.02	0.02	0.00
Common Stock Repurchased	-0.46	-0.40	-0.23	-0.36	-0.32	-3.03	-5.15	-0.66	-0.65
Dividends Paid	-4.20	-4.15	-4.10	-4.04	-3.97	-3.97	-3.54	-2.88	-2.21
Other Financing Activities	0.00	-4.14	0.00	-0.44	0.00	0.00	-0.08	-0.04	0.00
Net Cash from Financing Activities	-4.66	-4.53	-4.33	34.22	-4.26	-24.47	-13.13	-7.94	-7.24
Summary
Net Change in Cash	8.51	3.45	1.99	42.65	5.88	-14.73	-0.71	9.70	12.17
Cash at Beginning of Period	63.92	60.48	58.49	15.84	9.96	24.69	25.40	15.70	3.54
Cash at End of Period	72.43	63.92	60.48	58.49	15.84	9.96	24.69	25.40	15.70
Free Cash Flow	13.35	8.96	6.92	8.45	10.14	10.45	14.19	21.17	19.67
Supplemental Disclosures
Interest Paid	1.96	1.96	1.96	1.86	-	-	-	-	-
Income Taxes Paid	2.27	2.12	0.78	0.94	1.96	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Hennessy Advisors Cash Flow

What is Hennessy Advisors's free cash flow?

Hennessy Advisors generated free cash flow of $13.35M in fiscal 2025 (fiscal year ended Sep 30, 2025), operating cash flow of $13.79M minus $440.00K of capital expenditures. That was up 49.0% from $8.96M a year earlier. Free cash flow equaled 37.6% of revenue.

How much does Hennessy Advisors spend on capital expenditures?

Hennessy Advisors spent $440.00K on capital expenditures in fiscal 2025, compared with $313.00K a year earlier. That equals 3.2% of operating cash flow.

Does Hennessy Advisors pay dividends or buy back shares?

Yes. In fiscal 2025 Hennessy Advisors returned $4.20M in dividends and $459.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition