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NASDAQ · ELECTRIC SERVICES · MID CAP

Hallador Energy Co. HNRG

16 fiscal years on record · USD · FY2025 reported · SEC filings only
$469.5M
▲ 16.2% YoY
$41.9M
$11.9M
▼ 5.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Hallador Energy Company operates as a vertically integrated, independent power producer and fuel company with operations primarily in Indiana. Its business is organized in two segments: Electric Operations and Coal Operations. Hallador Power owns and operates the Merom Power Plant, a 1,080 MW coal-fired power generating station consisting of two steam turbine generators, with Unit 1 entering commercial operations in 1982 and Unit 2 in 1983. Sunrise mines coal from reserves in the Illinois Basin, which is used as a primary fuel source for generating electricity at power plants in the Midwest and Southeast United States. As of December 31, 2025, Hallador and its subsidiaries employed 633 full-time employees and temporary miners, of whom 599 were directly involved in the coal mining or coal washing process. Its principal executive office, as well as Sunrise's and Hallador Power's principal executive office, is located at 1183 East Canvasback Drive, Terre Haute, Indiana.

Written from the business description in HALLADOR ENERGY CO's annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth

USD 469.5M
Revenue, FY2025 · full 16-year series below
Revenue $M Net income $M
FY2025 · Revenue 469.5 · Net income 41.9
250.0M500.0M-100.0M-200.0M
201020132016201920222025
Compound annual growth
+9.1%
+14.0%
+3.3%
+9.0%
+32.2%
+7.6%
+4.3%
+20.4%
+3.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.0% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

·
Operating margin Net margin
FY2024 · Operating -54.0% · Net -56.0%
10%20%-20%-40%
201020172025
ROE
FY2025 · ROE 31.7%
10%20%30%-50%-100%
201020172025
Three returns, three denominators.
Gross margin·
Operating margin·
Net margin·
EBITDAUSD 102.3M

Each USD of equity produced 32 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 11.9
15M30M-10M-20M
201020172025
Net buybacks $M Dividends $M
FY2021 · Dividends 0.0 · Net buybacks ·
10M20M
2010201220142016201820202021
Dividends paid·
Net buybacks·
Share of profit·
Consecutive raises·

Total assetsUSD 408.1M
EquityUSD 159.8M
CashUSD 10.1M
Gross debtUSD 29.7M
Net debtUSD 19.6M
Current ratio0.81×

Net debt stands at 12% of equity.

The 16-year record

16 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
HNRG, 16-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue $B0.50.40.60.40.20.20.30.30.30.30.30.20.20.10.20.1
Operating income $B0.1−0.20.10.0−0.00.0−0.10.00.00.00.00.0◌◌◌◌
EBITDA $B0.1−0.20.10.10.00.0−0.00.00.10.00.10.0◌◌◌◌
Income tax $B0.0−0.00.00.00.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.00.0
Net income $B0.0−0.20.00.0−0.0−0.0−0.10.00.00.00.00.00.00.00.00.0
Free cash flow $B0.00.0−0.00.00.00.00.0◌◌◌◌◌◌◌0.00.0
EPS, diluted $0.96−5.721.250.55−0.12−0.20−1.950.251.080.420.680.340.780.831.250.78
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout %————−0−20−8651538244716981013
ROE %31.7−121.318.59.1−2.0−3.3−26.83.014.25.910.15.513.014.724.917.7
Shares out B0.040.040.030.030.030.030.030.030.030.030.030.030.030.030.000.00

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 64 reconciliationsAUDITED

Reconciled in 16 of the 16 fiscal years we could check. 11 checks were skipped: cost of revenue is not tagged before 2018. Six checks were skipped: the balance sheet is not tagged before 2010. Three checks were skipped: EPS is not tagged before 2010.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityElectric Services
Listed onNASDAQ
Incorporated inColorado
Fiscal year endsDecember 31
Data on record since2010

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