Hanover Bancorp, Inc. /MD financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Hanover Bancorp, Inc. /MD files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Selling and marketing	0.3	0.12	0.35
Interest expense	13	6.97	7.18	50.6
Pre-tax income	6.21	14.1	30.5	20.2	16.4	9.95
Income tax	1.24	3.2	6.94	5.02	4.03	2.47
Net income	4.97	10.9	23.6	15.2	12.3	7.49
EPS, basic	1.20	2.32	3.74	2.07	1.67	1.01
EPS, diluted	1.18	2.28	3.68	2.05	1.66	1.00
Shares, basic (weighted)	4.16	4.58	6.07	7.04	7.16	7.26
Shares, diluted (weighted)	4.23	4.66	6.16	7.12	7.19	7.26
Dividend per share			0.10	0.10	0.10	0.10

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	80.2	167	150	193	163	209
Property, plant and equipment	14.2	15	14.5	16.1	15.3	14.3
Lease right-of-use assets				10.2	8.34	9.86
Goodwill	1.9	19.2	19.2	19.2	19.2	19.2
Intangible assets		0.48	0.4	0.33	0.25	0.2
Total assets	852	1,485	1,840	2,150	2,312	2,383
Short-term debt	85.2	160	102	180	108	101
Total liabilities	774	1,362	1,667	1,964	2,115	2,183
Paid-in capital	63.7	97.2	127	126	125	123
Retained earnings	14.1	25	46.5	58.7	67.9	72.4
Other comprehensive income	0.16	0.26	-0.62	-1.32	-1.33	-0.68
Shareholders' equity	78	123	173	186	197	200
Total equity	78	123	173	186	197	200
Total liabilities and equity	852	1,485	1,840	2,150	2,312	2,383
Shares outstanding	4.18	5.56	7.29	7.17	7.15	7.14

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	4.97	10.9	23.6	15.2	12.3	7.49
Depreciation and amortization	1.34	1.44	1.66	1.81	2.09	2.01
Stock-based compensation	0.77	0.9	1.68	1.87	1.59	1.57
Deferred income tax	-1.11	0.01	1.79	1.4	0.59	1.71
Cash from operations	0.57	13.2	25.1	16.4	5.44	13.1
Capital expenditures	-1.09	-2.08	-1.12	-3.41	-1.29	-0.87
Acquisitions	0	-33	0
Purchases of investments	-5	-4.7	-8	0	-623	-131
Sales and maturities of investments	0.03	0.34	0.34	0.05	599	109
Cash from investing	-7.29	89.9	-374	-256	-45.4	-27.9
Stock issued	0.11	0.11	27.7	0	0.1
Share buybacks					0	-1.83
Dividends paid		0	-2.04	-2.93	-2.96	-3.01
Cash from financing	-0.9	-16.7	332	283	25.6	60.9
Net change in cash	-7.62	86.3	-16.6	42.7	-14.4	46
Free cash flow	-0.53	11.1	24	13	4.15	12.2
Interest paid	13.2	7.1	7.55	49.6	80.1	69.8
Income taxes paid	1.24	1.38	6.47	4.4	4.03	2.58

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $26.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	28.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.4%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-39.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-31.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	8.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-39.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-35.2%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-3.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	139.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-19.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	87.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	193.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-20.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	1.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	20.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	22.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	11.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	91.3%	Total liabilities / total assets.
Goodwill and intangibles / assets	0.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$183.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	272.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.31	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$3.57	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.73	Cash from operations / diluted weighted shares.
Book value per share	$28.74	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$26.02	Tangible book value / shares outstanding.
Cash per share	$20.02	(Cash + short-term investments) / shares outstanding.
Payout ratio	31.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	11.6%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$187.0M	Share price x shares outstanding.
Enterprise value	$45.8M	Market cap + total debt - cash - short-term investments.
P/E	19.8x	Market cap / net income. Only when net income is positive.
P/B	0.92x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.02x	Market cap / tangible book value, when positive.
P/FCF	7.26x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	6.95x	Market cap / cash from operations, when positive.
EV/FCF	1.78x	Enterprise value / free cash flow, when both are positive.
FCF yield	13.8%	Free cash flow / market cap.
Earnings yield	5.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.6%	Dividends paid over the period / market cap.
Shareholder yield	1.6%	(Dividends paid + share buybacks) / market cap.

Was Hanover Bancorp, Inc. /MD profitable in fiscal 2025?

Yes. Net income was $7.5M, a net margin of -.

How much free cash flow did Hanover Bancorp, Inc. /MD generate in fiscal 2025?

Cash from operations of $13.1M minus capital expenditures of $869.0K left free cash flow of $12.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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