Saturday 17 October 2026
Export HNRG’s income statement to Excel — free account
Hallador Energy Company
HNRG Utilities Utilities Independent Power Producers
Hallador Energy Company’s revenue for fiscal 2025 (year ended December 2025) was $469.5 million, up 16.2% from fiscal 2024. In the quarter to June 2026, revenue fell 1.28%, EPS fell 268.4%, free cash flow fell 3,158.7% and total debt fell 10.3%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
11.71
1.00
−7.87%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.44 | 5.82 | 20.35 | 0.00 | 0.00 | 0.00 | 17.50 | 6.77 | 0.00 | 19.43 |
Piotroski F-Score |
6 | 5 | 6 | 4 | 5 | 5 | 7 | 7 | 5 | 7 |
P/S ratio |
0.96 | 0.69 | 0.52 | 0.28 | 0.18 | 0.30 | 0.81 | 0.48 | 1.12 | 1.74 |
Altman Z-Score |
1.69 | 1.54 | 1.55 | 1.43 | 1.10 | 1.12 | 1.22 | 2.20 | 1.65 | 3.38 |
P/FCF ratio |
14.37 | 4.95 | 9.21 | 31.59 | 1.40 | 3.68 | 362.68 | 0.00 | 22.61 | 54.22 |
Altman Z″-Score (non-manufacturers) |
2.41 | 2.44 | 2.70 | 2.02 | 1.65 | 1.24 | 0.32 | 1.70 | (1.18) | 0.85 |
Beneish M-Score |
(2.88) | (2.89) | (2.83) | (3.36) | (3.72) | (3.08) | (2.08) | (3.68) | (6.36) | (2.91) |
P/Operating CF |
15.63 | 10.50 | 7.17 | 46.80 | 2.42 | 6.88 | 7.25 | (15.17) | 11.61 | 100.22 |
P/B ratio |
1.24 | 0.75 | 0.60 | 0.47 | 0.24 | 0.41 | 1.36 | 1.14 | 4.34 | 5.11 |
Price to Tangible BV |
1.24 | 0.75 | 0.60 | 0.47 | 0.24 | 0.41 | 1.36 | 1.14 | 4.34 | 5.11 |
EV/Sales |
1.71 | 1.35 | 1.06 | 0.77 | 0.71 | 0.72 | 1.07 | 0.65 | 1.21 | 1.87 |
EV/EBITDA |
11.76 | 13.47 | 14.81 | 3.93 | 3.61 | 4.91 | 6.22 | 10.16 | 0.00 | 226.71 |
EV/Operating CF |
7.90 | 5.56 | 6.03 | 6.54 | 3.32 | 3.69 | 7.14 | 6.95 | 7.44 | 10.79 |
EV/FCF |
25.70 | 9.71 | 18.79 | 87.88 | 5.46 | 8.67 | 481.23 | (26.02) | 24.51 | 58.09 |
Quick Ratio |
0.90 | 0.73 | 0.84 | 0.63 | 0.37 | 0.30 | 0.15 | 0.17 | 0.18 | 0.19 |
Current Ratio |
1.70 | 1.25 | 1.64 | 1.27 | 0.89 | 0.61 | 0.58 | 0.59 | 0.69 | 0.81 |
Net Debt/EBITDA |
2.69 | 2.66 | 2.36 | 2.52 | 2.69 | 2.83 | 1.53 | 2.66 | (21.68) | 4.05 |
Debt/Assets |
43.99% | 38.39% | 35.12% | 40.80% | 36.87% | 30.44% | 16.14% | 19.51% | 13.61% | 7.60% |
Debt/Equity |
1.08 | 0.80 | 0.71 | 0.91 | 0.76 | 0.59 | 0.47 | 0.43 | 0.48 | 0.19 |
Asset Turnover |
0.53 | 0.52 | 0.57 | 0.69 | 0.60 | 0.67 | 0.74 | 1.04 | 0.84 | 1.21 |
Operating CF/Net income |
4.99 | 2.05 | 6.94 | (0.65) | (8.58) | (12.78) | 2.99 | 1.33 | (0.29) | 1.94 |
Capex/Depreciation |
(1.11) | (0.70) | (0.76) | (0.70) | (0.49) | (0.65) | (1.74) | 2.83 | 16.23 | 1.17 |
Interest Coverage |
2.76 | 2.19 | 1.29 | 0.81 | 0.48 | (0.80) | 2.86 | 4.90 | 0.08 | 3.57 |
| 5.76% | 13.75% | 2.95% | (26.41%) | (3.25%) | (2.04%) | 9.11% | 18.52% | (121.29%) | 31.71% | |
| 2.28% | 6.11% | 1.44% | (12.53%) | (1.51%) | (1.02%) | 3.68% | 7.34% | (47.17%) | 10.78% | |
ROIC |
5.96% | 3.96% | 3.17% | 2.30% | 1.25% | (1.42%) | 6.33% | 11.16% | 0.47% | 21.49% |
Return on Tangible Assets |
2.67% | 7.33% | 1.67% | (16.97%) | (2.03%) | (1.35%) | 4.77% | 10.57% | (107.86%) | 16.85% |
Average Days of Receivables |
28.93 | 26.42 | 26.15 | 30.63 | 21.54 | 20.02 | 30.14 | 11.46 | 13.94 | 10.88 |
Research and Development Expense of Revenue |
0.59% | 0.31% | 0.40% | 0.38% | 0.31% | 0.19% | 0.18% | 0.14% | 0.06% | 0.05% |
Selling, General and Administrative Expense of Revenue |
3.74% | 5.51% | 4.03% | 3.97% | 4.75% | 5.99% | 4.54% | 28.13% | 35.31% | 29.16% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.90% | 2.67% | 1.08% | 0.57% | 0.50% | 0.41% | 0.35% | 0.56% | 1.10% | 0.75% |
Graham Net Nets |
(0.86) | (1.08) | (1.15) | (1.69) | (3.03) | (1.76) | (0.95) | (0.75) | (0.35) | (0.15) |
Graham Number |
8.27 | 14.29 | 6.89 | 0.00 | 0.00 | 0.00 | 8.86 | 15.75 | 0.00 | 9.06 |
Earnings Yield |
4.46% | 17.17% | 4.92% | (65.66%) | (13.61%) | (4.88%) | 5.71% | 14.77% | (50.04%) | 5.15% |
Free Cash Flow Yield |
6.96% | 20.18% | 10.86% | 3.17% | 71.37% | 27.15% | 0.28% | (5.20%) | 4.42% | 1.84% |
Revenue per Share |
9.62 | 9.16 | 9.76 | 10.69 | 8.02 | 8.09 | 11.30 | 19.16 | 10.23 | 10.94 |
Operating CF per Share |
2.08 | 2.22 | 1.71 | 1.26 | 1.73 | 1.57 | 1.69 | 1.79 | 1.67 | 1.89 |
Capex per Share |
(1.44) | (0.95) | (1.16) | (1.17) | (0.68) | (0.90) | (1.67) | (2.27) | (1.16) | (1.54) |
Free Cash Flow per Share |
0.64 | 1.27 | 0.55 | 0.09 | 1.05 | 0.67 | 0.03 | (0.48) | 0.51 | 0.35 |
Cash per Share |
0.74 | 0.66 | 0.75 | 0.45 | 0.40 | 0.19 | 0.20 | 0.22 | 0.31 | 0.36 |
Shareholders Equity per Share |
7.41 | 8.41 | 8.47 | 6.33 | 6.08 | 5.95 | 6.71 | 8.11 | 2.64 | 3.72 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
7.41 | 8.41 | 8.47 | 6.33 | 6.08 | 5.95 | 6.71 | 8.11 | 2.64 | 3.72 |
Free Cash Flow |
18.73 | 37.66 | 16.56 | 2.84 | 31.94 | 20.45 | 0.80 | (15.88) | 20.01 | 15.08 |
Working Capital |
34.04 | 13.40 | 33.17 | 17.60 | (7.88) | (25.39) | (101.08) | (64.78) | (48.04) | (29.21) |
Capital Expenditures |
(42.19) | (28.12) | (35.01) | (35.40) | (20.63) | (27.52) | (53.36) | (75.29) | (45.93) | (66.06) |
Net Current Asset Value |
(231.68) | (201.18) | (175.65) | (151.65) | (135.54) | (132.51) | (277.01) | (228.38) | (159.98) | (124.83) |
EV/EBIT |
11.76 | 13.47 | 14.81 | 19.30 | 27.76 | 0.00 | 12.31 | 6.15 | 457.04 | 14.52 |
Capex to Sales |
0.15 | 0.10 | 0.12 | 0.11 | 0.08 | 0.11 | 0.15 | 0.12 | 0.11 | 0.14 |
Price to Operating Income |
6.58 | 6.87 | 7.26 | 6.94 | 7.13 | 0.00 | 9.27 | 4.54 | 421.55 | 13.55 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.09 | 0.10 | 0.11 | 0.15 | 0.14 | 0.14 | 0.06 | (0.05) | (0.01) | (0.20) |
Cash ROIC |
3.97% | 8.05% | 3.61% | 0.75% | 9.42% | 6.91% | 0.25% | (4.06%) | 12.00% | 7.31% |
Accounts Receivable Turnover |
12.71 | 12.94 | 14.43 | 13.43 | 11.75 | 17.69 | 16.65 | 25.48 | 22.85 | 31.91 |
Accounts Payable Turnover |
8.36 | 9.27 | 9.06 | 8.51 | 5.88 | 5.45 | 4.28 | 4.40 | 3.63 | 5.36 |
Inventory Turnover |
8.32 | 8.84 | 8.13 | 7.06 | 5.05 | 7.76 | 5.57 | 4.58 | 2.82 | 2.81 |
Average Days of Payables |
37.71 | 40.53 | 44.78 | 46.83 | 61.65 | 76.23 | 113.59 | 71.54 | 83.13 | 66.18 |
Days of Inventory on Hand |
38.23 | 43.86 | 51.10 | 59.01 | 65.88 | 32.52 | 106.91 | 70.45 | 142.22 | 139.79 |
Average Receivables |
22.15 | 20.98 | 20.35 | 24.09 | 20.78 | 14.00 | 21.74 | 24.91 | 17.69 | 14.71 |
Average Payables |
23.05 | 20.52 | 23.77 | 29.11 | 31.60 | 36.47 | 62.25 | 72.94 | 53.60 | 43.07 |
Average Inventory |
23.18 | 21.52 | 26.50 | 35.11 | 36.82 | 25.64 | 47.90 | 70.02 | 68.87 | 82.09 |
Average Assets |
535.85 | 524.76 | 516.85 | 470.56 | 404.88 | 369.06 | 492.27 | 610.17 | 479.45 | 388.59 |
Average Common Equity |
211.86 | 233.11 | 252.10 | 223.20 | 188.40 | 183.75 | 198.63 | 241.81 | 186.44 | 132.06 |
Columns are period end dates