Hallador Energy Company Financials
This page shows Hallador Energy Company (HNRG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Operating cash flow stays positive, but heavy reinvestment keeps Hallador's cash surplus much thinner than its earnings swings suggest.
A-$226.1M net loss turning into$41.9M profit would usually signal a broken-then-healed business. Here the more telling fact is earnings volatility without matching cash collapse: operating cash flow stayed positive across both years, implying the reported loss was driven largely by non-cash charges or timing effects rather than a comparable breakdown in cash generation.
In the latest year,
Long-term leverage has eased, with debt-to-equity down to 0.2x, but short-term liquidity remains tighter than that improvement suggests. The current ratio has stayed below 1.0x throughout the period, so near-term obligations rely more on ongoing operating inflows than on a large cash cushion.
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 scores 3.27, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($769.6M) 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 $3.6 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 $469.5M in revenue in fiscal year 2025. This represents an increase of 16.2% from the prior year.
Hallador Energy Company's EBITDA was $102.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 167.0% from the prior year.
Hallador Energy Company reported $41.9M in net income in fiscal year 2025. This represents an increase of 118.5% from the prior year.
Hallador Energy Company earned $0.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 116.8% from the prior year.
Cash & Balance Sheet
Hallador Energy Company generated $11.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 5.2% from the prior year.
Hallador Energy Company held $10.1M in cash against $29.7M in long-term debt as of fiscal year 2025.
Hallador Energy Company had 44M shares outstanding in fiscal year 2025. This represents an increase of 2.8% from the prior year.
Margins & Returns
Hallador Energy Company's operating margin was 13.0% in fiscal year 2025, reflecting core business profitability. This is up 67.0 percentage points from the prior year.
Hallador Energy Company's net profit margin was 8.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 64.9 percentage points from the prior year.
Hallador Energy Company's ROE was 26.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 243.0 percentage points from the prior year.
Capital Allocation
Hallador Energy Company invested $69.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 29.7% from the prior year.
HNRG Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $101.8M-0.2% | $102.0M-30.5% | $146.8M+42.7% | $102.9M-12.6% | $117.7M+25.8% | $93.6M-11.0% | $105.2M+12.1% | $93.8M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $6.9M-3.8% | $7.1M+49.5% | $4.8M-36.4% | $7.5M+9.9% | $6.8M+8.2% | $6.3M-2.5% | $6.5M-17.1% | $7.8M |
| Operating Income | -$5.7M-190.4% | $6.3M-78.5% | $29.1M+144.8% | $11.9M-14.5% | $13.9M+106.3% | -$218.6M-4738.2% | $4.7M+164.7% | -$7.3M |
| Interest Expense | $4.0M-10.3% | $4.4M-10.1% | $4.9M+29.0% | $3.8M+2.6% | $3.7M+6.8% | $3.5M+29.5% | $2.7M-27.9% | $3.7M |
| Income Tax | -$504K | N/A | N/A | N/A | N/A | -$6.0M-2692.7% | $232K+107.7% | -$3.0M |
| Net Income | -$9.3M-3783.8% | -$240K-101.0% | $23.9M+189.6% | $8.2M-17.3% | $10.0M+104.6% | -$215.8M-13986.2% | $1.6M+115.2% | -$10.2M |
| EPS (Diluted) | $-0.20 | N/A | $0.55+189.5% | $0.19-17.4% | $0.23 | N/A | $0.04+114.8% | $-0.27 |
HNRG Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $448.6M+9.9% | $408.1M-0.3% | $409.5M0.0% | $409.5M+11.9% | $366.1M-0.8% | $369.1M-36.3% | $579.7M-2.6% | $595.2M |
| Current Assets | $151.1M+22.5% | $123.4M-9.6% | $136.5M-2.4% | $139.9M+30.7% | $107.1M+2.1% | $104.9M+5.1% | $99.8M-4.0% | $103.9M |
| Cash & Equivalents | $36.8M+265.2% | $10.1M-20.5% | $12.7M+37.2% | $9.2M+33.9% | $6.9M-4.7% | $7.2M+88.9% | $3.8M-40.6% | $6.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $9.2M-34.6% | $14.0M-43.5% | $24.8M+32.1% | $18.7M+49.0% | $12.6M-18.5% | $15.4M+29.6% | $11.9M-37.6% | $19.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $243.1M-2.1% | $248.2M-5.7% | $263.3M-8.4% | $287.4M+14.6% | $250.7M-5.3% | $264.8M+1.5% | $260.9M-6.5% | $279.0M |
| Current Liabilities | $190.0M+24.5% | $152.6M-26.4% | $207.3M-0.9% | $209.3M+18.2% | $177.1M+15.8% | $152.9M-10.9% | $171.6M-12.2% | $195.5M |
| Long-Term Debt | $29.7M0.0% | $29.7M-30.5% | $42.7M+64.2% | $26.0M+550.0% | $4.0M-89.3% | $37.4M-12.9% | $42.9M+73.5% | $24.7M |
| Total Equity | $205.6M+28.6% | $159.8M+9.3% | $146.2M+19.7% | $122.2M+5.9% | $115.3M+10.6% | $104.3M-67.3% | $318.8M+0.8% | $316.2M |
| Retained Earnings | -$52.9M-21.4% | -$43.6M-0.6% | -$43.3M+35.5% | -$67.2M+10.9% | -$75.5M+11.7% | -$85.4M-165.5% | $130.4M+1.2% | $128.8M |
HNRG Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $20.5M+151.3% | $8.2M-64.8% | $23.2M+104.1% | $11.4M-70.4% | $38.4M-1.4% | $38.9M+401.8% | -$12.9M-154.9% | $23.5M |
| Capital Expenditures | $7.7M-69.2% | $24.9M+27.6% | $19.5M+49.8% | $13.0M+11.6% | $11.7M-15.0% | $13.8M+19.0% | $11.6M-12.2% | $13.2M |
| Free Cash Flow | $12.8M+176.4% | -$16.8M-559.2% | $3.7M+317.6% | -$1.7M-106.3% | $26.7M+6.1% | $25.2M+202.9% | -$24.5M-336.4% | $10.4M |
| Investing Cash Flow | -$7.5M+69.8% | -$24.8M-46.7% | -$16.9M-27.7% | -$13.2M-13.3% | -$11.7M-14.0% | -$10.2M+4.0% | -$10.7M+0.5% | -$10.7M |
| Financing Cash Flow | $15.0M+528.0% | -$3.5M-9.3% | -$3.2M-117.8% | $18.0M+179.4% | -$22.7M+13.4% | -$26.2M-216.5% | $22.5M+366.2% | -$8.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HNRG Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -5.5%-11.7pp | 6.1%-13.7pp | 19.8%+8.2pp | 11.5%-0.3pp | 11.8%+245.3pp | -233.5%-238.0pp | 4.5%+12.3pp | -7.8% |
| Net Margin | -9.2%-8.9pp | -0.2%-16.5pp | 16.3%+8.2pp | 8.0%-0.5pp | 8.5%+239.0pp | -230.5%-232.0pp | 1.5%+12.4pp | -10.9% |
| Return on Equity | -4.5%-4.4pp | -0.2%-16.5pp | 16.3%+9.6pp | 6.8%-1.9pp | 8.6%+215.6pp | -206.9%-207.4pp | 0.5%+3.7pp | -3.2% |
| Return on Assets | -2.1%-2.0pp | -0.1%-5.9pp | 5.8%+3.8pp | 2.0%-0.7pp | 2.7%+61.2pp | -58.5%-58.7pp | 0.3%+2.0pp | -1.7% |
| Current Ratio | 0.80-0.0 | 0.81+0.2 | 0.660.0 | 0.67+0.1 | 0.60-0.1 | 0.69+0.1 | 0.58+0.1 | 0.53 |
| Debt-to-Equity | 1.18+1.0 | 0.19-0.1 | 0.29+0.1 | 0.21+0.2 | 0.03-0.3 | 0.36+0.2 | 0.13+0.1 | 0.08 |
| FCF Margin | 12.6%+29.0pp | -16.4%-18.9pp | 2.5%+4.1pp | -1.6%-24.3pp | 22.7%-4.2pp | 26.9%+50.2pp | -23.3%-34.3pp | 11.0% |
Note: The current ratio is below 1.0 (0.81), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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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 Altman Z-Score?
Hallador Energy Company (HNRG) has an Altman Z-Score of 3.27, 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 3.6x, 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.