NMS · Financial Statements

Hanover Bancorp, Inc. (HNVR) Financial Statements

$23.88 NMS: HNVR Market Cap $168.48M

Hanover Bancorp, Inc. most recently reported annual revenue of $143.0M, net profit of $7.0M. Revenue grew at an average annual rate of 28.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Hanover Bancorp, Inc.: Revenue rose from $10.0M in 2016 to $143.0M in 2025, a change of +1330.0% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 32.0% to 7.0%, a shift of -25.0 percentage points; the most recent year shows net profit of $7.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$10.0M$13.0M$19.0M$39.0M$41.0M$52.0M$77.0M$114.0M$148.0M$143.0M
Operating Expenses$6.0M$9.0M$12.0M$28.0M$35.0M$38.0M$47.0M$94.0M$132.0M$133.0M
Operating Profit$3.0M$4.0M$7.0M$11.0M$6.0M$14.0M$30.0M$20.0M$16.0M$10.0M
Operating Margin32.0%30.0%38.6%29.0%15.0%27.0%39.5%17.7%11.0%7.0%
Other Income$-1.0M$-1.0M$-2.0M$-2.0M$0$0$0$0$0$0
Interest$0$0$0$3.0M$13.0M$7.0M$7.0M$51.0M$80.0M$70.0M
Depreciation$0$0$0$1.0M$1.0M$1.0M$2.0M$3.0M$4.0M$4.0M
Profit Before Tax$3.0M$4.0M$7.0M$10.0M$6.0M$14.0M$30.0M$20.0M$16.0M$10.0M
Tax$35.4M$40.5M$29.5M$21.7M$19.9M$22.8M$22.8M$24.9M$24.6M$24.8M
Net Profit$2.0M$2.0M$5.0M$8.0M$5.0M$11.0M$24.0M$15.0M$12.0M$7.0M
EPS$0.75$0.78$1.36$1.93$1.19$2.28$3.68$2.05$1.66$1.00
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$33.0M$34.0M$36.0M$37.0M$38.0M$37.0M$37.0M$36.0M$36.0M$35.0M$32.0M$30.0M
Operating Expenses$28.0M$29.0M$31.0M$36.0M$33.0M$32.0M$35.0M$32.0M$31.0M$35.0M$32.0M$30.0M
Operating Profit$5.0M$5.0M$5.0M$1.0M$5.0M$5.0M$2.0M$3.0M$5.0M$0$0$0
Operating Margin14.4%14.7%15.0%3.1%12.1%13.9%4.8%9.5%13.1%0.4%0.7%-0.3%
Interest$17.0M$18.0M$19.0M$20.0M$21.0M$19.0M$18.0M$17.0M$18.0M$17.0M$16.0M$15.0M
Profit Before Tax$5.0M$5.0M$5.0M$1.0M$5.0M$5.0M$2.0M$3.0M$5.0M$0$3.0M$5.0M
Tax$24.9M$25.4M$24.9M$27.2M$23.4M$24.9M$13.8M$27.8M$25.3M$75.7M$36.9M$25.0M
Net Profit$4.0M$4.0M$4.0M$1.0M$4.0M$4.0M$2.0M$2.0M$3.0M$0$2.0M$4.0M
EPS$0.46$0.51$0.55$0.11$0.46$0.52$0.20$0.33$0.47$0.00$0.25$0.55

Over the 10 years reported for Hanover Bancorp, Inc., borrowings increased from $60.0M in 2016 to $136.0M in 2025, cash stood at $209.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.13 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$362.0M$501.0M$650.0M$849.0M$852.0M$1.5B$1.8B$2.3B$2.3B$2.4B
Current Assets$28.0M$35.0M$57.0M$96.0M$93.0M$173.0M$174.0M$254.0M$262.0M$261.0M
Cash$28.0M$35.0M$57.0M$88.0M$80.0M$151.0M$149.0M$177.0M$163.0M$209.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$0$0$0$0$7.0M$9.0M$9.0M$12.0M$12.0M$12.0M
Fixed Assets$0$0$14.0M$14.0M$14.0M$15.0M$14.0M$16.0M$15.0M$14.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$0$0$0$66.0M$23.0M$1.3B$1.6B$2.0B$2.1B$2.1B
Other Assets$0$0$0$1.0M$2.0M$19.0M$19.0M$19.0M$19.0M$19.0M
Total Liabilities$60.0M$82.0M$124.0M$777.0M$774.0M$1.4B$1.7B$2.1B$2.1B$2.2B
Current Liabilities$0$0$0$226.0M$0$1.2B$1.5B$1.9B$2.0B$2.0B
Borrowings$60.0M$82.0M$124.0M$116.0M$100.0M$184.0M$126.0M$164.0M$142.0M$136.0M
Other Liabilities$0$0$0$661.0M$673.0M$1.2B$1.5B$1.9B$2.0B$2.0B
Equity$32.0M$42.0M$54.0M$0$0$0$0$0$0$0
Reserves$32.0M$42.0M$54.0M$72.0M$78.0M$123.0M$173.0M$185.0M$197.0M$200.0M

For Hanover Bancorp, Inc., operating cash flow was positive in 7 of 10 reported years; free cash flow in the latest year was $12.0M; free cash flow was positive in 6 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$0$0$0$8.0M$1.0M$13.0M$25.0M$16.0M$5.0M$13.0M
Investing Cash Flow$0$0$0$-45.0M$-8.0M$88.0M$-375.0M$-260.0M$-47.0M$-29.0M
Financing Cash Flow$0$0$0$77.0M$15.0M$158.0M$365.0M$207.0M$50.0M$72.0M
Net Cash Flow$0$0$0$88.0M$-8.0M$86.0M$-17.0M$43.0M$-14.0M$46.0M
Free Cash Flow$0$0$0$6.0M$-1.0M$11.0M$24.0M$13.0M$4.0M$12.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-1.22
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y10.11%
Return 3Y45.65%
Return 5Y—

Hanover Bancorp, Inc. (HNVR) financials — frequently asked questions

What is Hanover Bancorp, Inc.'s annual revenue?

Hanover Bancorp, Inc. (HNVR) reported annual revenue of $143.0M in its most recent fiscal year.

What is Hanover Bancorp, Inc.'s net profit?

Hanover Bancorp, Inc. (HNVR) reported net profit of $7.0M in its most recent fiscal year.

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