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Hallador Energy

HNRG

Hallador Energy Company is a vertically integrated independent power producer and fuel supplier primarily operating in the Indiana energy market.

Market cap
$716.85M-0.2%
Revenue$453.5M+10.6%
Net income$22.8M+111%
Free cash flow$68.4M+215%
EPS (diluted)$0.54+110%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$90.3M
EPS estimate-$0.12

Financials

Q1 2026

Income statement

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Revenue$101.8M-13.5%
Operating income-$5.7M-141%
Net income-$9.3M-193%
EPS (diluted)-$0.20-187%

Balance sheet

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Cash & equivalents$36.8M+434%
Total debt$6.2M-65.5%
Total equity$205.6M+78.2%
Total assets$448.6M+22.5%

Cash flow

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Operating cash flow$20.5M-46.7%
CapEx$7.7M-34.3%
Free cash flow$12.8M-52.1%

Valuation & ratios

Valuation

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Market cap$716.85M-0.2%
Enterprise value$686.28M-8.7%
P/E31.4×
P/S1.6×-0.1×

Profitability

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Operating margin9.1%+5.0pp
Net margin5%+2.6pp

Returns & leverage

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Return on equity14.2%+7.5pp
Debt / equity-0.1×
Current ratio0.8×+0.2×

Segments

By product

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Electric Sales$65.1M-24.3%
Delivered Energy$49.6M-31.3%
Coal Sales$35.1M+16.2%
Accredited Energy Capacity$15.5M

By segment

See full
Electric Operations$65.2M-24.2%
Coal Operations$47.6M-15.1%

Competitors

Profile

Hallador Energy Company is a vertically integrated independent power producer and fuel supplier primarily operating in the Indiana energy market. The company manages a complete energy value chain by mining bituminous coal and utilizing it to generate electricity and accredited capacity for the wholesale market. Its core value proposition lies in its integrated model, leveraging proximity between its mining complexes and power generation facilities to provide low-cost, dispatchable energy to utilities and market participants.

Competitive position

A vertically integrated regional player in the MISO footprint with a strategic cost advantage due to the proximity of its fuel source to its generation assets.

GeographiesUnited States, Indiana, Illinois Basin
Customer segmentsUtilities, Energy Cooperatives, Wholesale Market Participants
Business modelVertically Integrated Producer, Wholesale Energy Marketing, Commodity Extraction
SuppliersMining equipment and replacement parts, Steel-related roof control products, Explosives, Electricity for mining operations, Chemicals (Anhydrous ammonia, limestone)
CustomersRegional Transmission Organizations (MISO), Investor-owned utilities, Rural electric cooperatives, Energy trading firms
Listed1981
Employees936.0
CEOBrent K. Bilsland
SectorEnergy
IndustryCoal
FilingsSEC EDGAR

Questions, answered.

What is Hallador Energy's market cap?
Hallador Energy (HNRG) has a market capitalization of $716.9M and trades on NASDAQ.
What is Hallador Energy's revenue and profitability?
Hallador Energy generated $453.5M in trailing twelve-month revenue with net income of $22.8M, representing a net margin of 5.0%. Gross margin stands at 23.9%, with free cash flow of $68.4M. These figures are based on the Q1 2026 filing.
Who are Hallador Energy's competitors?
Hallador Energy's key competitors include Alliance Resource Partners, L.P., Peabody Energy Corporation, Portland General Electric Company, and others. These companies compete in similar markets and product categories.
Who does Hallador Energy partner with?
Hallador Energy's notable partners include Consolidated Asset Management Services, Alliance for Cooperative Energy Services Power Marketing, LLC, Hoosier Energy Rural Electric Cooperative, Inc., and others.
What subsidiaries does Hallador Energy have?
Hallador Energy's subsidiaries include Hallador Power Company, LLC, Sunrise Coal, LLC, Sunrise Energy, LLC, and others.
Where is Hallador Energy headquartered?
Hallador Energy is headquartered in United States of America and employs approximately 936 people. It has been publicly traded since 1981.