(HNRG) Hallador Energy - Overview
Sector: Energy | Industry: Thermal Coal | Exchange: NASDAQ (USA) | Market Cap: 908m USD | Total Return: -0.9% in 12m
Avg Turnover: 14.1M
Qual. Beats: -1
Rev. Trend: -73.8%
Qual. Beats: 0
Warnings
Earnings expected to drop: P/E 36.3 → Forward 75.8
Beneish M-Score 1.00 > -1.5 - likely earnings manipulation
Altman Z'' 0.62 < 1.0 - financial distress zone
Volatile Below Avwap Earnings
Tailwinds
No distinct edge detected
Hallador Energy Company (HNRG) is an American independent power producer and fuel supplier operating through two primary segments: Electric Operations and Coal Operations. The company manages the Merom power plant, a 1,080-megawatt coal-fired facility that provides wholesale energy and accredited capacity to utilities and cooperatives. Simultaneously, it maintains the Oaktown mining complex to support coal extraction and processing in Indiana and Illinois.
The company utilizes a vertically integrated business model where its mining operations provide the primary feedstock for its power generation assets, mitigating supply chain volatility. Within the Coal & Consumable Fuels sub-industry, producers are increasingly transitioning toward power generation to capture higher margins along the energy value chain. Investors may find ValueRay useful for evaluating how these operational segments impact long-term valuation.
Founded in 1949 and headquartered in Terre Haute, Indiana, Hallador Energy functions as a critical infrastructure provider in the regional energy market. Its revenue streams are derived from both the direct sale of physical fuel and the generation of electricity for the wholesale market.
- Merom power plant capacity sales drive predictable long-term utility revenue streams
- Coal production costs at Oaktown complex impact overall consolidated profit margins
- Wholesale electricity price volatility influences merchant power generation segment earnings
- Environmental regulations on coal-fired power plants pose long-term operational risks
- Regional energy demand shifts in MISO market affect power plant utilization rates
| Net Income: 22.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA -10.77 > 1.0 |
| NWC/Revenue: -8.62% < 20% (prev -17.04%; Δ 8.42% < -1%) |
| CFO/TA 0.14 > 3% & CFO 63.2m > Net Income 22.6m |
| Net Debt (-1.89m) to EBITDA (78.7m): -0.02 < 3 |
| Current Ratio: 0.80 > 1.5 & < 3 |
| Outstanding Shares: last quarter (46.5m) vs 12m ago 7.03% < -2% |
| Gross Margin: 4.27% > 18% (prev 55.81%; Δ -51.54% > 0.5%) |
| Asset Turnover: 110.9% > 50% (prev 112.2%; Δ -1.31% > 0%) |
| Interest Coverage Ratio: 2.42 > 6 (EBIT TTM 41.4m / Interest Expense TTM 17.1m) |
| A: -0.09 (Total Current Assets 151.1m - Total Current Liabilities 190.0m) / Total Assets 448.6m |
| B: -0.12 (Retained Earnings -52.9m / Total Assets 448.6m) |
| C: 0.10 (EBIT TTM 41.4m / Avg Total Assets 407.4m) |
| D: 0.85 (Book Value of Equity 205.6m / Total Liabilities 243.1m) |
| Altman-Z'' = 0.62 = B |
| DSRI: 0.66 (Receivables 9.15m/12.6m, Revenue 451.9m/410.9m) |
| GMI: 13.06 (GM 55.81% / 4.27%) |
| AQI: 1.35 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 1.10 (Revenue 451.9m / 410.9m) |
| TATA: -0.09 (NI 22.6m - CFO 63.2m) / TA 448.6m) |
| Beneish M = 7.89 (Cap -4..+1) = D |
As of June 07, 2026, the stock is trading at USD 16.66 with a total of 1,127,464 shares traded.
Over the past week, the price has changed by -13.50%,
over one month by -5.66%,
over three months by -15.56% and
over the past year by -0.89%.
Hallador Energy has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy HNRG.
- StrongBuy: 2
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 29 | 74.1% |
P/E Trailing = 36.3396
P/E Forward = 75.7576
P/S = 2.0398
P/B = 4.4993
P/EG = 1.2561
Revenue TTM = 451.9m USD
EBIT TTM = 41.4m USD
EBITDA TTM = 78.7m USD
Long Term Debt = 29.7m USD (from longTermDebt, last fiscal year)
Short Term Debt = 5.59m USD (from shortTermDebt, last quarter)
Debt = 41.5m USD (corrected: LT Debt 29.7m + ST Debt 5.59m) + Leases 6.21m
Net Debt = -1.89m USD (calculated: Debt 41.5m - CCE 43.4m)
Enterprise Value = 905.8m USD (907.7m + Debt 41.5m - CCE 43.4m)
Interest Coverage Ratio = 2.42 (Ebit TTM 41.4m / Interest Expense TTM 17.1m)
EV/FCF = -454.7x (Enterprise Value 905.8m / FCF TTM -1.99m)
FCF Yield = -0.22% (FCF TTM -1.99m / Enterprise Value 905.8m)
FCF Margin = -0.44% (FCF TTM -1.99m / Revenue TTM 451.9m)
Net Margin = 5.00% (Net Income TTM 22.6m / Revenue TTM 451.9m)
Gross Margin = 4.27% ((Revenue TTM 451.9m - Cost of Revenue TTM 432.5m) / Revenue TTM)
Gross Margin QoQ = -0.62% (prev -126.5%)
Tobins Q-Ratio = 2.02 (Enterprise Value 905.8m / Total Assets 448.6m)
Interest Expense / Debt = 41.34% (Interest Expense 17.1m / Debt 41.5m)
Taxrate = 5.56% (1.33m / 23.9m)
NOPAT = 39.1m (EBIT 41.4m * (1 - 5.56%))
Current Ratio = 0.80 (Total Current Assets 151.1m / Total Current Liabilities 190.0m)
Debt / Equity = 0.20 (Debt 41.5m / totalStockholderEquity, last quarter 205.6m)
Debt / EBITDA = -0.02 (Net Debt -1.89m / EBITDA 78.7m)
Debt / FCF = 0.95 (negative FCF - burning cash) (Net Debt -1.89m / FCF TTM -1.99m)
Total Stockholder Equity = 158.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 5.54% (Net Income 22.6m / Total Assets 448.6m)
RoE = 14.25% (Net Income TTM 22.6m / Total Stockholder Equity 158.4m)
RoCE = 22.02% (EBIT 41.4m / Capital Employed (Equity 158.4m + L.T.Debt 29.7m))
RoIC = 16.19% (NOPAT 39.1m / Invested Capital 241.6m)
WACC = 14.95% (E(907.7m)/V(949.2m) * Re(13.85%) + D(41.5m)/V(949.2m) * Rd(41.34%) * (1-Tc(0.06)))
Discount Rate = 13.85% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 78.11 | Cagr: 11.22%
[DCF] Fair Price = unknown (Cash Flow -1.99m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.88 | # QB: -1
Revenue Correlation: -73.78 | Revenue CAGR: -13.32% | SUE: -0.26 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.10 | Chg30d=-123.33% | Revisions=-20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.31 | Chg30d=+1.12% | Revisions=-14% | Analysts=3
EPS current Year (2026-12-31): EPS=0.19 | Chg30d=-34.85% | Revisions=+0% | GrowthEPS=-80.2% | GrowthRev=-4.7%
EPS next Year (2027-12-31): EPS=1.20 | Chg30d=-8.41% | Revisions=+0% | GrowthEPS=+519.4% | GrowthRev=+12.0%
[Analyst] Revisions Ratio: -20%