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HNRGHallador Energy Company
$13.49$636M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
HNRG logo

Hallador Energy Company

HNRG
NASDAQ · Coal
$13.49
At close - Oct 2, 4:00 PM EDT - USD
Market Cap$636M
P/E14.1x
52W High$24.70
Volume527.72K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Integrated Power Pivot Faces Margin Volatility

Hallador Energy's transformation from a pure coal miner into an integrated power producer, anchored by the Merom acquisition, has created a structurally different but highly volatile earnings profile. While the balance sheet has been dramatically deleveraged—t...

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HNRG price & volume

Price trend, volume and key moving averages

Launch Terminal
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Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-22% Peers

P/E is 22% below peer median

03

Market leadership

RS 23 · Lag

Laggard (Underperforming 77% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 10

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HNRG-30.32%
S&P 500 (^GSPC)+12.66%
1-Year Return
HNRG-27.90%
S&P 500 (^GSPC)+15.01%
3-Year Return
HNRG-1.78%
S&P 500 (^GSPC)+79.79%
5-Year Return
HNRG+330.99%
S&P 500 (^GSPC)+69.47%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
14.1x
Forward P/E
N/A
EV/EBITDA75th %ile
6.5x
FCF YieldCash Flow
1.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
14.1x
18.2x
33rd· Fair
EV/EBITDA
6.5x
5.6x
75th· Fair
Price/FCF
53.3x
36.0x
67th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$469M+16.1% YoY
Net income
$42M+118.5% YoY
Free cash flow
$12M-5.2% YoY
Operating margin
13%+67.0 pts YoY
ROIC (TTM)27%
Avg ROIC 5Y-
ROE (TTM)31.7%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate5/12 (42%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 10, 2026
-$0.32-166.7%
vs -$0.12
$102M+12.4%
vs $90M
Q2 2026
May 6, 2026
-$0.20-25.0%
vs -$0.16
$102M-0.5%
vs $102M
Q2 2026
Mar 12, 2026
-$0.01+0.0%
vs -$0.01
$102M-0.7%
vs $103M
Q4 2025
Nov 10, 2025
$0.55+816.7%
vs $0.06
$147M+33.5%
vs $110M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 17, 2026
Hallador Secures Up to $675 Million Debt Financing for Turtle Creek Gas

Facilities Expected to Fund the Majority of Turtle Creek's Sub-$800 Million Estimated Project Cost Company's $2.4 Billion Contracted Forward Sales Position and Expected Operating Cash Flow Provide Credible Pathway to Fully Fund Turtle Creek TERRE HAUTE, Ind., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”) today announced that on September 15, 2026, the Company closed a $600 million senior secured term loan facility (the “Term Loan Facility”) with a three-year term and, subject to lender approval, a two-year extension option.

Defense World·Sep 4, 2026
Bank of New York Mellon Corp Invests $7.04 Million in Hallador Energy Company $HNRG

Bank of New York Mellon Corp acquired a new position in shares of Hallador Energy Company (NASDAQ: HNRG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 404,653 shares of the energy company's stock, valued at approximately $7,037,000. Bank of New York Mellon

Defense World·Aug 18, 2026
Empowered Funds LLC Sells 35,465 Shares of Hallador Energy Company $HNRG

Empowered Funds LLC lowered its stake in Hallador Energy Company (NASDAQ: HNRG) by 42.0% during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,903 shares of the energy company's stock after selling 35,465 shares during the period. Empowered Funds

Seeking Alpha·Aug 11, 2026
Hallador Energy Company (HNRG) Q2 2026 Earnings Call Transcript

Hallador Energy Company (HNRG) Q2 2026 Earnings Call Transcript

Filtered for Hallador Energy CompanyMore Headlines
04

Compare before deciding

Benchmark HNRG against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Hallador Energy Company (HNRG)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HNRG logoHNRGHallador Energy CompanyCurrent
$13.49$635.79M14.0516.09%8.92%31.71%—
HCC logoHCCWarrior Met Coal, Inc.
$89.35$4.72B82.73-14.12%13.05%10.02%—
ARLP logoARLPAlliance Resource Partners, L.P.
$24.53$3.16B10.14-10.37%12.25%14.68%—
BTU logoBTUPeabody Energy Corporation
$24.81$3.02B-57.70-8.86%-4.56%-5.22%—
SXC logoSXCSunCoke Energy, Inc.
$9.90$840.05M-19.04-5.07%-2.88%-8.49%—
METC logoMETCRamaco Resources, Inc.
$8.11$436.09M-7.87-19.46%-11.98%-13.54%—

Compare HNRG vs Peers

Hallador Energy Company (HNRG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HCC

Most directly comparable listed peer for HNRG.

Scale Benchmark

vs CAT

Larger-name benchmark to compare HNRG against a more recognizable public peer.

Peer Set

Compare Top 5

vs HCC, ARLP, BTU, SXC

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HNRG SEC Filings & Documents

Hallador Energy Company (HNRG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 14, 2026·SEC

Material company update

Aug 10, 2026·SEC

Material company update

Jun 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 12, 2026·SEC

FY 2025

Mar 17, 2025·SEC

FY 2024

Mar 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 10, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 10, 2025·SEC

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HNRG Frequently Asked Questions

Hallador Energy Company (HNRG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Hallador Energy Company's revenue?

Hallador Energy Company (HNRG) reported $450.5M in revenue for fiscal year 2025. This represents a 8242% increase from $5.4M in 1996.

How fast is Hallador Energy Company growing?

Hallador Energy Company (HNRG) grew revenue by 16.1% over the past year. This is strong growth.

Is HNRG profitable?

Hallador Energy Company (HNRG) reported a net loss of $0.9M for fiscal year 2025.

Dividend & Returns
What is HNRG's return on equity?

Hallador Energy Company (HNRG) has a return on equity (ROE) of 31.7%. This is excellent, indicating efficient use of shareholder capital.

What is Hallador Energy Company's free cash flow?

Hallador Energy Company (HNRG) had negative free cash flow of $50.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in HNRG back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →