Hallador Energy Company (HNRG) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HNRG SEC filings page.
Hallador Energy Company (HNRG) reported $452.2M in revenue over the twelve months to Jun 30, 2026, up 7.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Hallador’s profits swing sharply with operating conditions, while heavy capital spending keeps cash generation modest even in profitable years.
In FY2024, operating cash flow was$65.9M despite a net loss of$226.1M , so reported earnings were not a direct measure of cash movement. By FY2025, free cash flow was only$11.9M against$69.2M of capital spending, showing that the return to profit still left little cash after reinvestment.
FY2024 revenue fell to
Debt-to-equity was 0.2x in FY2025, so the reported balance sheet is not dominated by borrowings. Yet current assets of
Financial Health Signals
Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hallador Energy Company's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hallador Energy Company has an operating margin of 13.0%, meaning the company retains $13 of operating profit per $100 of revenue. This below-average margin results in a low score of 10/100, suggesting thin profitability after operating expenses. This is up from -54.0% the prior year.
Hallador Energy Company's revenue surged 16.2% year-over-year to $469.5M, reflecting rapid business expansion. This strong growth earns a score of 5/100.
Hallador Energy Company carries a low D/E ratio of 0.19, meaning only $0.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
Hallador Energy Company's current ratio of 0.81 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
While Hallador Energy Company generated $81.1M in operating cash flow, capex of $69.2M consumed most of it, leaving $11.9M in free cash flow. This results in a low score of 78/100, reflecting heavy capital investment rather than weak cash generation.
Hallador Energy Company generates a 26.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 5/100. This is up from -216.8% the prior year.
Hallador Energy Company scores 3.07, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($686.4M) relative to total liabilities ($248.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Hallador Energy Company passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Hallador Energy Company generates $1.94 in operating cash flow ($81.1M OCF vs $41.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Hallador Energy Company earns $3.61 in operating income for every $1 of interest expense ($61.1M vs $16.9M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Hallador Energy Company generated $101.5M in revenue in Q2 2026. This represents a decrease of 1.3% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.
Hallador Energy Company's EBITDA was -$2.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 115.9% from the same quarter a year earlier. Against the prior quarter it is down 155.6%.
Hallador Energy Company reported -$15.2M in net income in Q2 2026. This represents a decrease of 284.7% from the same quarter a year earlier. Against the prior quarter it is down 63.4%.
Hallador Energy Company earned -$0.32 per diluted share (EPS) in Q2 2026. This represents a decrease of 268.4% from the same quarter a year earlier. Against the prior quarter it is down 60.0%.
Cash & Balance Sheet
Hallador Energy Company recorded an outflow of $50.1M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 2885.1% from the same quarter a year earlier. Against the prior quarter it is down 491.3%.
Hallador Energy Company held $29.0M in cash against $39.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Hallador Energy Company's operating margin was -12.5% in Q2 2026, reflecting core business profitability. This is down 23.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.9 percentage points.
Hallador Energy Company's net profit margin was -15.0% in Q2 2026, showing the share of revenue converted to profit. This is down 23.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.9 percentage points.
Hallador Energy Company's ROE was -8.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 14.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.5 percentage points.
Not reported for Q2 2026.
Capital Allocation
Hallador Energy Company invested $26.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 101.3% from the same quarter a year earlier. Against the prior quarter it is up 241.9%.
Not reported for Q2 2026.
Not reported for Q2 2026.
HNRG Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $101.5M-1.3% | $101.8M-13.5% | $102.1M+9.0% | $146.8M+39.6% | $102.8M+9.6% | $117.7M+5.5% | $93.6M-21.7% | $105.2M-36.6% |
| SG&A Expenses | $7.6M+0.7% | $6.9M+0.5% | $7.1M+13.0% | $4.8M-26.3% | $7.5M-3.9% | $6.8M+14.8% | $6.3M-16.6% | $6.5M+6.9% |
| Operating Income | -$12.7M-207.2% | -$5.7M-140.7% | $6.3M+102.9% | $29.1M+516.7% | $11.8M+262.0% | $13.9M+407.7% | -$218.6M-2028.5% | $4.7M-80.2% |
| EBITDA | -$2.8M-115.9% | $5.0M-82.8% | $17.9M+109.1% | $38.2M+105.9% | $17.3M+172.6% | $28.9M+58.7% | -$195.9M-3617.5% | $18.6M-53.7% |
| Interest Expense | $3.8M-1.1% | $4.0M+6.6% | $4.4M+27.0% | $4.9M+83.0% | $3.8M+2.2% | $3.7M-5.4% | $3.5M+7.6% | $2.7M-11.2% |
| Income Tax | -$1.2M | -$504K | N/A | N/A | N/A | N/A | -$6.0M-72.4% | $232K-92.3% |
| Net Income | -$15.2M-284.7% | -$9.3M-193.4% | -$240K+99.9% | $23.9M+1436.9% | $8.2M+180.8% | $10.0M+688.4% | -$215.8M-2005.7% | $1.6M-90.3% |
| EPS (Basic) | -$0.32-268.4% | -$0.20-187.0% | $0.00+100.0% | $0.56+1300.0% | $0.19+170.4% | $0.23+560.0% | -$5.45-1658.1% | $0.04-91.8% |
| EPS (Diluted) | -$0.32-268.4% | -$0.20-187.0% | -$0.01 | $0.55+1275.0% | $0.19+170.4% | $0.23+560.0% | -$5.45-1918.5% | $0.04-90.9% |
| Diluted Shares (Avg) | 47M+9.5% | 47M+7.0% | N/A | 43M+1.0% | 43M+13.6% | 43M+24.8% | N/A | 43M+16.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
HNRG Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $468.0M+14.3% | $448.6M+22.5% | $408.1M+10.5% | $409.5M-29.4% | $409.5M-31.2% | $366.1M-37.5% | $369.1M-37.4% | $579.7M-0.9% |
| Current Assets | $150.0M+7.2% | $151.1M+41.1% | $123.4M+17.7% | $136.5M+36.8% | $139.9M+34.6% | $107.1M+14.8% | $104.9M+13.0% | $99.8M+8.1% |
| Cash & Equivalents | $29.0M+214.0% | $36.8M+433.7% | $10.1M+39.2% | $12.7M+230.7% | $9.2M+43.2% | $6.9M+321.5% | $7.2M+154.5% | $3.8M+48.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $14.4M-23.2% | $9.2M-27.3% | $14.0M-9.4% | $24.8M+108.0% | $18.7M-1.9% | $12.6M-11.6% | $15.4M-22.6% | $11.9M-42.5% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $277.7M-3.4% | $243.1M-3.1% | $248.2M-6.3% | $263.3M+0.9% | $287.4M+3.0% | $250.7M-16.8% | $264.8M-17.5% | $260.9M-16.8% |
| Current Liabilities | $208.7M-0.3% | $190.0M+7.3% | $152.6M-0.2% | $207.3M+20.8% | $209.3M+7.0% | $177.1M+7.7% | $152.9M-3.0% | $171.6M0.0% |
| Non-Current Liabilities | $69.0M-11.6% | $53.0M-28.1% | $95.6M-14.6% | $55.9M-37.4% | $78.1M-6.4% | $73.7M-46.3% | $111.9M-31.6% | $89.3M-37.0% |
| Long-Term Debt | $39.2M+50.7% | N/A | $29.7M-20.6% | $42.7M-0.5% | $26.0M+5.1% | $4.0M-91.9% | $37.4M-41.1% | $42.9M+17.6% |
| Total Equity | $190.3M+55.8% | $205.6M+78.2% | $159.8M+53.3% | $146.2M-54.1% | $122.2M-61.4% | $115.3M-59.4% | $104.3M-61.2% | $318.8M+17.3% |
| Retained Earnings | -$68.1M-1.4% | -$52.9M+29.9% | -$43.6M+49.0% | -$43.3M-133.2% | -$67.2M-152.2% | -$75.5M-154.3% | -$85.4M-160.7% | $130.4M-13.6% |
Not reported in any period shown, so not listed: Inventory, Goodwill.
HNRG Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$23.9M-310.2% | $20.5M-46.7% | $8.2M-79.1% | $23.2M+279.7% | $11.4M-51.7% | $38.4M+134.7% | $38.9M+293.7% | -$12.9M-136.6% |
| Depreciation & Amortization | $9.9M+78.7% | $10.6M-29.2% | $11.6M-49.1% | $9.1M-33.9% | $5.5M-59.4% | $15.0M-3.0% | $22.7M+43.3% | $13.8M-14.7% |
| Stock-Based Compensation | N/A | $1.1M+4.7% | N/A | $600K-45.5% | $500K-68.8% | $1.1M+62.8% | N/A | $1.1M+37.5% |
| Capital Expenditures | $26.3M+101.3% | $7.7M-34.3% | $24.9M+81.2% | $19.5M+69.0% | $13.0M-1.0% | $11.7M-21.4% | $13.8M-48.3% | $11.6M-36.2% |
| Free Cash Flow | -$50.1M-2885.1% | $12.8M-52.1% | -$16.8M-166.6% | $3.7M+114.9% | -$1.7M-116.2% | $26.7M+1687.7% | $25.2M+153.9% | -$24.5M-242.7% |
| Investing Cash Flow | -$26.3M-98.6% | -$7.5M+35.9% | -$24.8M-141.9% | -$16.9M-58.3% | -$13.2M-23.4% | -$11.7M+21.4% | -$10.2M+61.5% | -$10.7M+41.2% |
| Financing Cash Flow | $41.7M+131.5% | $15.0M+166.0% | -$3.5M+86.6% | -$3.2M-114.2% | $18.0M+313.4% | -$22.7M-899.7% | -$26.2M-155.6% | $22.5M+233.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
HNRG Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -12.5%-23.9pp | -5.5%-17.3pp | 6.2% | 19.8%+15.3pp | 11.5%+19.3pp | 11.8%+9.3pp | -233.5% | 4.5%-9.9pp |
| Net Margin | -15.0%-23.0pp | -9.2%-17.6pp | -0.2% | 16.3%+14.8pp | 8.0%+18.9pp | 8.5%+10.0pp | -230.5% | 1.5%-8.2pp |
| Return on Equity | -8.0%-14.8pp | -4.5%-13.2pp | -0.2%+206.8pp | 16.3%+15.8pp | 6.8%+10.0pp | 8.6%+9.3pp | -206.9%-203.1pp | 0.5%-5.4pp |
| Return on Assets | -3.3%-5.3pp | -2.1%-4.8pp | -0.1%+58.4pp | 5.8%+5.6pp | 2.0%+3.7pp | 2.7%+3.0pp | -58.5%-56.7pp | 0.3%-2.5pp |
| Current Ratio | 0.72+0.1x | 0.80+0.2x | 0.81+0.1x | 0.66+0.1x | 0.67+0.1x | 0.600.0x | 0.69+0.1x | 0.580.0x |
| Debt-to-Equity | 0.210.0x | 1.18+1.1x | 0.19-0.2x | 0.29+0.2x | 0.21+0.1x | 0.03-0.1x | 0.36+0.1x | 0.130.0x |
| Asset Turnover | 0.220.0x | 0.23-0.1x | 0.250.0x | 0.36+0.2x | 0.25+0.1x | 0.32+0.1x | 0.25+0.1x | 0.18-0.1x |
| FCF Margin | -49.4%-47.8pp | 12.6%-10.1pp | -16.4%-43.4pp | 2.5%+25.8pp | -1.6%-12.7pp | 22.7%+21.4pp | 26.9%+66.0pp | -23.3%-33.6pp |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Hallador Energy Company HNRG | FY2025 | $469.5M | $41.9M | 8.9% | $686.4M | 40/100 |
| Natural Resource Partners L.P. NRP | FY2025 | N/A | $136.4M | N/A | $1.5B | — |
| NACCO Industries, Inc. NC | FY2025 | $277.2M | $17.6M | 6.3% | $264.2M | 44/100 |
| Peabody Energy Corporation BTU | FY2025 | $3.9B | -$42.5M | -1.1% | $3.1B | 50/100 |
| Alliance Resource Partners LP ARLP | FY2025 | $2.2B | $311.2M | 14.2% | $3.2B | 65/100 |
| Core Natural Resources, Inc. CNR | FY2025 | $4.2B | -$153.2M | -3.7% | $4.5B | 68/100 |
Where Hallador Energy Company Ranks
Frequently Asked Questions
What is Hallador Energy Company's annual revenue?
Hallador Energy Company (HNRG) reported $469.5M in total revenue for fiscal year 2025. This represents a 16.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hallador Energy Company's revenue growing?
Hallador Energy Company (HNRG) revenue grew by 16.2% year-over-year, from $404.2M to $469.5M in fiscal year 2025.
Is Hallador Energy Company profitable?
Yes, Hallador Energy Company (HNRG) reported a net income of $41.9M in fiscal year 2025, with a net profit margin of 8.9%.
What is Hallador Energy Company's EBITDA?
Hallador Energy Company (HNRG) had EBITDA of $102.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hallador Energy Company have?
As of fiscal year 2025, Hallador Energy Company (HNRG) had $10.1M in cash and equivalents against $29.7M in long-term debt.
What is Hallador Energy Company's operating margin?
Hallador Energy Company (HNRG) had an operating margin of 13.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hallador Energy Company's net profit margin?
Hallador Energy Company (HNRG) had a net profit margin of 8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Hallador Energy Company's return on equity (ROE)?
Hallador Energy Company (HNRG) has a return on equity of 26.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hallador Energy Company's free cash flow?
Hallador Energy Company (HNRG) generated $11.9M in free cash flow during fiscal year 2025. This represents a -5.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hallador Energy Company's operating cash flow?
Hallador Energy Company (HNRG) generated $81.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hallador Energy Company's total assets?
Hallador Energy Company (HNRG) had $408.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hallador Energy Company's capital expenditures?
Hallador Energy Company (HNRG) invested $69.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Hallador Energy Company's current ratio?
Hallador Energy Company (HNRG) had a current ratio of 0.81 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Hallador Energy Company's debt-to-equity ratio?
Hallador Energy Company (HNRG) had a debt-to-equity ratio of 0.19 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hallador Energy Company's return on assets (ROA)?
Hallador Energy Company (HNRG) had a return on assets of 10.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hallador Energy Company's P/E ratio?
Hallador Energy Company (HNRG) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $686.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Hallador Energy Company's price-to-sales ratio?
Hallador Energy Company (HNRG) trades at 1.5x sales, its market capitalization divided by revenue of $452.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $686.4M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Hallador Energy Company's Altman Z-Score?
Hallador Energy Company (HNRG) has an Altman Z-Score of 3.07, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Hallador Energy Company's Piotroski F-Score?
Hallador Energy Company (HNRG) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hallador Energy Company's earnings high quality?
Hallador Energy Company (HNRG) has an earnings quality ratio of 1.94x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hallador Energy Company cover its interest payments?
Hallador Energy Company (HNRG) has an interest coverage ratio of 3.61x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hallador Energy Company?
Hallador Energy Company (HNRG) scores 40 out of 100 on our Financial Health Score, indicating moderate standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.