HALLADOR ENERGY CO HNRG

Utilities SIC 4911 - Electric Services NAICS Utilities › Electric Power Generation, Transmission and Distribution derived Nasdaq

Hallador Energy Company ("Hallador" or the "Company") is a vertically integrated, independent power producer ("IPP") and fuel company with operations primarily in Indiana. The Company operates across multiple stages of the energy value chain, from accredited capacity and energy to coal. The Company's electric operations are located within the Midcontinent Independent System Operator's ("MISO") footprint. Our operations comprise Hallador Power Company, LLC ("Hallador Power") that provides accredited capacity and energy to utilities and other energy market participants through its MISO interconnection, and Sunrise Coal, LLC ("Sunrise") that mines bituminous coal in Indiana to serve various power plants in the Midwest and Southeast United States.

Last close 11.05 2026-10-23
Market cap $520.9M 2026-06-30 share count
52-week range 10.73 - 24.70

Valuation FY2025 figures against the last close

P/S1.1x
P/E11.5x
P/FCF43.7x
EV/EBITDA5.3x
Dividend yield—
Diluted EPS0.96

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $469.5M$404.2M$634.9M$362.0M$247.7M$242.1M$317.4M$293.6M$271.6M$281.4M
Cost of revenue ——$473.4M$266.6M$198.8M$186.0M$247.9M$215.4M——
Gross profit ——$161.5M$95.4M$48.8M$56.1M$69.6M$78.2M——
SG&A $26.2M$26.5M$26.2M$16.4M$14.8M$11.6M$12.8M$11.8M$15.0M$10.5M
Total operating expenses $408.4M$622.5M$569.9M$30.4M-$6.0M$241.1M$405.7M$290.0M$257.8M$273.0M
Operating income $61.1M-$218.4M$65.0M$30.4M-$6.0M$3.1M————
Interest expense $16.9M$13.8M$13.7M$11.0M$8.0M$13.0M$16.0M$16.3M$12.4M$14.8M
Pre-tax income $43.7M-$235.5M$49.3M$19.9M-$3.7M-$8.9M-$82.2M$3.5M$13.9M$8.5M
Income tax $1.8M$9.4M$4.5M$1.8M$26.0K$2.7M$22.3M$4.1M$19.2M$4.0M
Net income $41.9M-$226.1M$44.8M$18.1M-$3.8M-$6.2M-$59.9M$7.6M$33.1M$12.5M
EPS, basic 0.98-5.721.350.57-0.12—————
EPS, diluted 0.96-5.721.250.55-0.12-0.20-1.950.251.080.42
Shares, diluted (wtd. avg.) 43.4M39.5M36.8M33.6M30.6M—————

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $10.1M$7.2M$2.8M$3.0M$2.5M$8.0M$8.8M$15.5M$16.3M$12.6M
Short-term investments ———————$1.8M$1.9M$1.8M
Receivables $14.0M$15.4M$19.9M$29.9M$13.6M$14.4M$25.6M$18.4M$16.8M$22.3M
Total current assets $123.4M$104.9M$92.8M$138.5M$39.2M$63.3M$82.4M$85.0M$67.7M$82.8M
Property, plant and equipment $277.8M$257.7M$488.6M$480.5M$302.8M$309.4M$329.7M———
Total assets $408.1M$369.1M$589.8M$630.6M$354.0M$384.1M$425.6M$515.5M$518.2M$531.3M
Accounts payable $41.8M$44.3M$62.9M$83.0M$41.5M$31.4M$31.8M$26.4M$21.1M$19.9M
Short-term debt $0$4.1M$24.4M$33.0M$23.1M$34.3M$33.0M$27.6M$35.0M$30.6M
Total current liabilities $152.6M$152.9M$157.6M$239.6M$64.6M$71.2M$64.8M$51.8M$54.3M$48.7M
Long-term debt $29.7M$37.4M$63.5M$49.7M$84.7M$97.3M$140.6M$160.9M$167.0M$208.0M
Total liabilities $248.2M$264.8M$321.2M$415.5M$167.7M$194.9M$230.1M$256.6M$268.9M$314.4M
Retained earnings -$43.6M-$85.4M$140.7M$95.9M$77.8M$81.6M$89.0M$153.8M$150.2M$122.1M
Total equity $159.8M$104.3M$268.6M$215.0M$182.2M$185.3M$191.5M$254.9M$249.3M$216.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $81.1M$65.9M$59.4M$54.2M$48.0M$52.6M$38.2M$51.6M$65.8M$60.9M
Depreciation and amortisation $41.2M$65.6M$67.2M$46.9M$40.0M$39.6M$48.6M$44.2M$38.5M$35.6M
Stock-based compensation $3.5M$4.5M$3.6M$1.3M$1.0M$1.2M$1.8M$3.2M$7.3M$2.5M
Capital expenditure $69.2M$53.4M$75.4M$54.0M$28.1M$20.7M$35.5M———
Investing cash flow -$66.5M-$46.5M-$75.3M-$53.4M-$27.5M-$18.2M-$30.2M-$26.0M-$22.3M-$49.3M
Financing cash flow -$11.4M-$14.4M$16.6M-$207.0K-$26.7M-$35.6M-$14.8M-$21.8M-$39.8M-$17.7M
Dividends paid ————$0$1.2M$5.0M$4.9M$4.9M$4.8M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-043867.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M Revenue, FY2016: 281.4M Net income, FY2016: 12.5M Revenue, FY2017: 271.6M Net income, FY2017: 33.1M Revenue, FY2018: 293.6M Gross profit, FY2018: 78.2M Net income, FY2018: 7.6M Revenue, FY2019: 317.4M Gross profit, FY2019: 69.6M Net income, FY2019: -59.9M Revenue, FY2020: 242.1M Gross profit, FY2020: 56.1M Net income, FY2020: -6.2M Revenue, FY2021: 247.7M Gross profit, FY2021: 48.8M Net income, FY2021: -3.8M Revenue, FY2022: 362M Gross profit, FY2022: 95.4M Net income, FY2022: 18.1M Revenue, FY2023: 634.9M Gross profit, FY2023: 161.5M Net income, FY2023: 44.8M Revenue, FY2024: 404.2M Net income, FY2024: -226.1M Revenue, FY2025: 469.5M Net income, FY2025: 41.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $281.4M $271.6M $293.6M $317.4M $242.1M $247.7M $362.0M $634.9M $404.2M $469.5M
Gross profit — — $78.2M $69.6M $56.1M $48.8M $95.4M $161.5M — —
Net income $12.5M $33.1M $7.6M -$59.9M -$6.2M -$3.8M $18.1M $44.8M -$226.1M $41.9M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Mine safety A mine operator reporting a shutdown order or a pattern of safety violations. Item 1.04
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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