Valuation, from the filing
| Public float | $130.90M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $18.25 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 17.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
17.5× earnings today, against a median of 6.7× across 5 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $130.90M | 17.5× | |
| 2024-06-30 | $91.30M | 7.4× | |
| 2023-03-31 | $101.90M | 6.7× | |
| 2022-03-31 | $83.75M | 3.6× | |
| 2021-03-31 | $69.49M | 6.4× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the State Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 24.8% | 82th |
Hanover Bancorp, Inc. /MD (HNVR) reported net income of $7.49M for the fiscal year ended 2025-12-31. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from Hanover Bancorp, Inc. /MD’s SEC filings, each linked to the filing it came from. It is classified by the SEC under State Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $7.49M | $12.35M | $15.16M | $23.56M | $10.85M | $4.97M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 7.26M | shares 7.19M | shares 7.12M | shares 6.16M | shares 4.66M | shares 4.23M |
| Pretax income | $9.95M | $16.38M | $20.19M | $30.50M | $14.05M | $6.21M |
| Income tax expense | $2.47M | $4.03M | $5.02M | $6.94M | $3.20M | $1.24M |
| Diluted EPS | $1.00 | $1.66 | $2.05 | $3.68 | $2.28 | $1.18 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $208.90M | $162.86M | $192.62M | $149.95M | $166.54M | $80.21M |
| Total assets | $2.38B | $2.31B | $2.15B | $1.84B | $1.48B | $851.61M |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $2.18B | $2.12B | $1.96B | $1.67B | $1.36B | $773.56M |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $200.27M | $196.64M | $185.91M | $172.58M | $122.53M | $78.04M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $19.17M | $19.17M | $19.17M | $19.17M | $19.17M | $1.90M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Operating cash flow | $13.05M | $5.44M | $16.40M | $25.08M | $13.19M | $566.00K |
| Capital expenditures | $869.00K | $1.29M | $3.41M | $1.12M | $2.08M | $1.09M |
| Investing cash flow | -$27.95M | -$45.36M | -$256.36M | -$374.15M | $89.85M | -$7.29M |
| Financing cash flow | $60.94M | $25.57M | $282.64M | $332.47M | -$16.71M | -$898.00K |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $1.57M | $1.59M | $1.87M | $1.68M | $901.00K | $766.00K |
| Common dividends paid | $3.01M | $2.96M | $2.93M | $2.04M | $0 | Unavailable |
| Common share repurchases | $1.83M | $0 | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $1.80M | $1.80M | $1.60M | $1.70M | $1.40M | $1.30M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Free cash flow | $12.18M | $4.15M | $12.99M | $23.96M | $11.11M | -$527.00K |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 24.8% | 24.6% | 24.9% | 22.8% | 22.8% | 20.0% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open HNVR in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.