Hennessy Advisors vs TON Strategy
Hennessy Advisors is the larger business, with $35.5m of revenue in fiscal 2025 against $12.8m for TON Strategy (2.8 times as much). TON Strategy grew faster (1327.8% against 19.9%). Hennessy Advisors kept more of each dollar of sales as profit: a net margin of 28.0% against -1161.9%.
| Latest fiscal year | Hennessy AdvisorsHNNA, 2025 | TON StrategyTONX, 2025 |
|---|---|---|
| Revenue | $35.5m | $12.8m |
| Revenue growth | 19.9% | 1327.8% |
| Net income | $10.0m | −$148m |
| Operating margin | 37.0% | — |
| Net margin | 28.0% | -1161.9% |
| Return on equity | 10.5% | -70.3% |
| Free cash flow | $13.4m | −$20.9m |
| Cash | $72.4m | $39.5m |
| Total debt | $39.8m | — |
| Debt to equity | 40.7% | — |
| Dividend per share | $0.55 | — |
| Dividend yield | 5.5% | — |
| Share buybacks | — | $20.6m |
| Employees | 18 | — |
| Market value | $83.7m | $163m |
| Price vs our value range | — | — |
| Moat score | 81 (Strong) | 12 (Weak) |
| Insider trades, 12 months | 0 buys, 7 sales | 9 buys, 18 sales |