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Hennessy AdvisorsHNNA -1.59%73 Return-on-Tangible-Asset is 5.64% as of Jun. 2026, which is 28% below its 10-year median of 7.84. GuruFocus rates HNNA with a GF Score™ of 73/100 and a GF Value™ of $9.81 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,632 Asset Management companies, Hennessy Advisors ranks better than 54.11% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Hennessy Advisors's annualizedNet Income for the quarter that ended in Jun. 2026 was $8.00 Mil. Hennessy Advisors's average total tangible assets for the quarter that ended in Jun. 2026 was $141.65 Mil. Therefore, Hennessy Advisors's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 5.64%.
The historical rank and industry rank for Hennessy Advisors's Return-on-Tangible-Asset or its related term are showing as below:
HNNA'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.3 Med: 7.84 Max: 19.94
Current: 5.43
During the past 13 years, Hennessy Advisors's highest Return-on-Tangible-Asset was 19.94%. The lowest was 3.30%. And the median was 7.84%.
HNNA's Return-on-Tangible-Asset is ranked better than 54.11% of 1632
companies
in the Asset Management industry
Industry Median: 4.54
vs HNNA: 5.43
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Hennessy Advisors Return-on-Tangible-Asset Related Terms
Hennessy Advisors Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Hennessy Advisors's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HNNA vs NMS, GDO, GLV: Return-on-Tangible-Asset Comparison
For the Asset Management subindustry, Hennessy Advisors's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hennessy Advisors Return-on-Tangible-Asset vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Hennessy Advisors's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Hennessy Advisors's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 5.64% mean?
Hennessy Advisors (HNNA) has a Return-on-Tangible-Asset of 5.64% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Hennessy Advisors and its competitors. This is 28% below median its historical median of 7.84. Over the past decade, Hennessy Advisors' Return-on-Tangible-Asset has ranged from 3.30 to 19.94. According to the industry distribution chart, Hennessy Advisors ranks #749 out of 1632 companies in the Asset Management industry, placing it in the top 45.9%.
Is Hennessy Advisors' Return-on-Tangible-Asset too high?
Hennessy Advisors' current Return-on-Tangible-Asset of 5.64% is 28% below median its 10-year median of 7.84. Over the past 10 years, this metric has ranged from a low of 3.30 to a high of 19.94. The Asset Management industry median Return-on-Tangible-Asset is 4.54. Hennessy Advisors' value of 5.64% is 24.2% above this industry median. Based on the distribution chart, Hennessy Advisors ranks #749 out of 1632 companies in the Asset Management industry, which is above the industry midpoint. Overall, Hennessy Advisors has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hennessy Advisors' Return-on-Tangible-Asset compare to NMS and GDO?
According to the Asset Management industry distribution chart, Hennessy Advisors ranks #749 out of 1632 companies for Return-on-Tangible-Asset. This puts Hennessy Advisors in the upper half of its industry. The industry median Return-on-Tangible-Asset is 4.54. Hennessy Advisors' value of 5.64% is 24.2% above this benchmark. Historically, Hennessy Advisors' own Return-on-Tangible-Asset has ranged from 3.30 to 19.94 over the past decade. While the company's 10-year median is 7.84 vs. the industry median of 4.54, Hennessy Advisors has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for an Asset Management company?
The median Return-on-Tangible-Asset among Asset Management companies is 4.54, based on 1,632 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hennessy Advisors's current Return-on-Tangible-Asset of 5.64% is 24.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Hennessy Advisors and its competitors. For the Asset Management industry, the median Return-on-Tangible-Asset is 4.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hennessy Advisors's current Return-on-Tangible-Asset is 5.64%, which is 28% below median its own 10-year median of 7.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hennessy Advisors stock overvalued right now?
Based on GuruFocus' analysis, Hennessy Advisors (HNNA) is currently considered Fairly Valued. The stock's GF Value™ is $9.81, compared to a current price of $9.89 — trading 0.8% above its estimated fair value. The current Return-on-Tangible-Asset is 5.64%, which is 28% below median its 10-year median of 7.84 and 24.2% above the Asset Management industry median of 4.54. Hennessy Advisors' overall GF Score™ is 73/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Hennessy Advisors (HNNA), the current Return-on-Tangible-Asset is 5.64% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hennessy Advisors (HNNA) Overvalued in 2026?
Based on GuruFocus' analysis, Hennessy Advisors stock appears to be overvalued.
The current stock price of $9.89 is trading 0.8% above its estimated GF Value™ of $9.81.
GuruFocus considers Hennessy Advisors to be Fairly Valued.
Key valuation signals for HNNA:
Return-on-Tangible-Asset: 5.64% (28% below median its 10-year median of 7.84)
GF Value™: $9.81 vs. price of $9.89 (0.8% above fair value)
Industry Position: 24.2% above the Asset Management median (#749 of 1632)
No single metric tells the full story. See the HNNA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hennessy Advisors Inc is an investment management company that manages and markets open-end mutual funds branded as the Hennessy Funds. It offers domestic equity, multi-asset sectors, specialty products, and fixed income products. The company earns revenues mainly from investment advisory services and secondarily from shareholder services. Advisory services include managing each fund's portfolio in line with its investment objectives, monitoring compliance and performance, overseeing sub-advisors and other service providers, and handling marketing, distribution, and regulatory reporting. Shareholder services cover investor support and coordination with the fund service provider, with all related fees based on the funds' average daily net asset values.
73GF Score
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