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Hennessy Advisors cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$3.7M in Q3 FY26 · $10.2M over twelve months

Operating cash flow$3.7M
Capital spending−$30K
Free cash flow+$3.7M
Cash / net income1.9×

Analysis

In Q3 FY26, Hennessy Advisors generated $3.7M of operating cash flow and spent $30K on capital projects, leaving free cash flow of $3.7M. That is $237K less than in Q3 FY25 ($3.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $10.5M; the largest uses were other financing ($40.7M), dividends ($4.4M), capital spending ($331K); the cash balance fell by $35.0M.

Operating cash flow was $3.7M against net income of $2.0M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: payables +$864K, deferred taxes +$333K, stock-based pay +$299K.

Free cash flow

Hennessy Advisors: free cash flow by quarterHennessy Advisors: free cash flow by quarter$3.3MQ4 FY24$2.1MQ1 FY25$3.7MQ2 FY25$3.9MQ3 FY25$3.6MQ4 FY25$601KQ1 FY26$2.2MQ2 FY26$3.7MQ3 FY26
Operating cash flow less capital spending.
Hennessy Advisors: operating cash flow against capital spendingHennessy Advisors: operating cash flow against capital spendingOperating cash flowCapital spending$3.4M$100KQ4 FY24$2.2M$117KQ1 FY25$3.7M$81KQ2 FY25$4.0M$67KQ3 FY25$3.8M$175KQ4 FY25$661K$60KQ1 FY26$2.3M$66KQ2 FY26$3.7M$30KQ3 FY26
Latest (Q3 FY26): Operating cash flow $3.7M, Capital spending $30K.

Capital allocation, year by year

Hennessy Advisors: where the cash came from (up) and went (down), by fiscal yearHennessy Advisors: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingDividendsFY21: Operating cash flow $10.4MFY21: Capital spending −$249KFY21: Dividends −$4.0M$10.4MFY21FY22: Operating cash flow $8.7MFY22: Net borrowing $39.0MFY22: Capital spending −$216KFY22: Dividends −$4.0M$47.7MFY22FY23: Operating cash flow $7.1MFY23: Capital spending −$215KFY23: Dividends −$4.1M$7.1MFY23FY24: Operating cash flow $9.3MFY24: Capital spending −$313KFY24: Dividends −$4.2M$9.3MFY24FY25: Operating cash flow $13.8MFY25: Capital spending −$440KFY25: Dividends −$4.2M$13.8MFY25
Over these 5 years operating cash flow totalled $49.3M; the largest uses were dividends ($20.5M) and capital spending ($1.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$35.4M
Debtnone
Net cash$35.4M

Hennessy Advisors funds itself: free cash flow was $10.2M over the last twelve months, with $35.4M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Hennessy Advisors: sources (+) and uses (−) of cash, Q3 FY26Hennessy Advisors: sources (+) and uses (−) of cash, Q3 FY26Other financing−$40.2MCash drawn (+) / kept (−)$37.7MOperating cash flow$3.7MDividends−$1.2MCapital spending−$30K
Hennessy Advisors: sources (+) and uses (−) of cash, TTM to Q3 FY26Hennessy Advisors: sources (+) and uses (−) of cash, TTM to Q3 FY26Other financing−$40.7MCash drawn (+) / kept (−)$35.0MOperating cash flow$10.5MDividends−$4.4MCapital spending−$331KOther investing−$1K

From profit to cash

Hennessy Advisors: net income to operating cash flow, Q3 FY26Hennessy Advisors: net income to operating cash flow, Q3 FY26Net income$2.0MDepreciation & amortization$77KStock-based pay$299KDeferred taxes$333KReceivables−$17KPayables$864KPrepaid and other assets$55KIncome taxes payable−$40KOperating cash flow$3.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsCash drawn (+) / kept (−)Free cash flow
Q3 FY26$3.7M−$30K−$1.2M$37.7M$3.7M
Q2 FY26$2.3M−$66K−$1.2M−$1.1M$2.2M
Q1 FY26$661K−$60K−$1.1M$464K$601K
Q4 FY25$3.8M−$175K−$1.1M−$2.1M$3.6M
Q3 FY25$4.0M−$67K−$1.1M−$2.8M$3.9M
Q2 FY25$3.7M−$81K−$1.1M−$2.6M$3.7M
Q1 FY25$2.2M−$117K−$1.1M−$1.1M$2.1M
Q4 FY24$3.4M−$100K−$1.0M−$1.9M$3.3M

Hennessy Advisors: income statement and cash flow

Hennessy Advisors, Q3 FY26: revenue $8.4M (+4% year over year), operating margin 34.7%. The chart follows the revenue to costs, profit and cash.

Hennessy Advisors: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.