Hallador Energy (HNRG) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Hallador Energy

NasdaqCM•Utilities•Utilities - Independent Power Producers

$16.60+0.49(0.03%)Market closed

Market Cap

$782.41M

P/S

1.7x

P/B

4.1x

Hallador Energy Company, through its subsidiaries, operates as an independent power producer and fuel company in the United States. It operates in two segments, Electric Operations and Coal Operations. The company owns and operates the Meron power plant, a 1,080 megawatts coal-fired power generating station that consists of two steam turbine generators and sells accredited capacity to utilities and other energy market participants. It also sells wholesale energy to utilities, generation and transmission cooperatives, and other energy market participants. In addition, the company operates the Oaktown mining complex, a coal mining and processing operation located in Knox and Sullivan counties, Indiana, and Crawford and Lawrence counties, Illinois. Hallador Energy Company was founded in 1949 and is based in Terre Haute, Indiana.

How this company scores

AverageMetricSide Score: 46/100

Strongest: Growth (16/25); weakest: Cash & Earnings Quality (6/25).

Profitability10/25

Growth16/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality6/25

Strengths

Low leverageProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 34.6x5y range 4.0x – 34.6x

Currently above its 8-quarter median.

P/S · 1.7x5y range 0.3x – 1.8x

Currently above its 20-quarter median.

P/B · 4.1x5y range 0.4x – 5.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $782.41M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $452.10M
Q. Revenue: $101.50M
TTM EBITDA: $58.15M
TTM Op. Income: $16.94M
Q. Op. Income: $-12.66M
TTM Net Income: $-912,000
Q. Net Income: $-15.23M
EPS: $-0.32
Shares Out.: $47.13M

$452.10M in TTM revenue grew 6.5% YoY, reaching $101.50M last quarter. TTM EBITDA of $58.15M and TTM operating income of $16.94M show growth is flowing through to the bottom line. However, net income is negative at $912,000 — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -2.7%
Op. Margin: -12.5%
Net Margin: -15.0%

Op. margin of -12.5% is down 24.0% YoY — costs are rising relative to revenue. Net margin at -15.0% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.7x
P/B Ratio: 4.1x

P/S of 1.7x and P/B of 4.1x. P/S is low relative to typical market levels. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $468.04M
Cash: $28.98M
Long-Term Debt: $39.18M
Book Value: $190.33M
D/E Ratio: 0.2
Debt/EBITDA: N/A

With $468.04M in assets and $39.18M in long-term debt, D/E is 0.2and book value is $190.33M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 494% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-23.89M
TTM Free Cash Flow: $-50.46M
FCF Margin: -11.2%
FCF / Net Income: 55.3

TTM FCF of $-50.46M on $-23.89M in operating cash flow. The FCF / Net Income ratio of 55.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.