Hanover Bancorp, Inc. (HNVR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+77.6%

$41.61

vs $23.43 price

Levered DCF

$43.22

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.18

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	23.11×	13.81×	8.74×	5.11×	9.09×	17.73×	10.93×	15.51×
P/B	0.86×	0.87×	0.69×	0.67×	0.8×	1.13×	1.23×	1.32×
P/S	1.2×	1.15×	1.12×	1.5×	1.89×	2.13×	2.25×	3.69×
EV / EBITDA	7.08×	7.38×	4.85×	2.88×	8.46×	14.31×	10.54×	8.07×
Gross margin	43.9%	42.8%	52.6%	85.0%	84.7%	65.6%	100.0%	100.0%
Operating margin	6.9%	11.0%	17.7%	39.4%	27.0%	15.0%	29.0%	38.6%
Net margin	5.2%	8.3%	13.3%	30.5%	20.9%	12.0%	20.6%	23.8%
Current ratio	0.13×	0.13×	0.13×	0.11×	0.15×	248.69×	0.42×	0×
Debt / equity	0.68×	0.72×	0.89×	0.73×	1.5×	1.28×	1.61×	2.3×
Interest coverage	0.14×	0.2×	0.4×	4.25×	2.02×	0.48×	4.01×	0×
Dividend yield	1.7%	1.7%	2.3%	1.8%	0.0%	0.0%	0.0%	0.0%
Payout ratio	40.2%	24.0%	19.3%	8.7%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	3.7%	6.3%	8.2%	13.6%	8.9%	6.4%	11.2%	8.5%
Return on invested capital	2.1%	3.5%	4.2%	7.6%	3.4%	4.0%	1.4%	0.8%
Return on assets	0.3%	0.5%	0.7%	1.3%	0.7%	0.6%	1.0%	0.7%
Free cash flow yield	7.1%	2.4%	10.2%	20.6%	11.3%	-0.6%	7.3%	0.0%
Earnings yield	4.3%	7.2%	11.9%	20.3%	11.0%	5.6%	9.2%	6.4%
Enterprise value	$99.8M	$149.4M	$114.7M	$92.8M	$131.4M	$108.2M	$116.2M	$138.8M
Net debt / EBITDA	-5.17×	-1.05×	-0.53×	-0.72×	2.12×	2.64×	2.53×	3.92×
Cash conversion cycle (days)	22	23	27	12	7	50	0	0