Hallador Energy Company (HNRG) Key Metrics
HNRG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $552.0M
- Enterprise value
- $703.0M
- P/E (TTM)
- 585.5 10-yr median 19.2
- Forward P/E
- 17.1
- PEG ratio
- 1.26
- Price / sales
- 1.2 10-yr median 0.6
- Price / book
- 3.6 10-yr median 1.0
- EV / EBITDA
- 12.5 10-yr median 5.2
- Dividend yield
- —
- Beta
- 0.44
HNRG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsHNRG valuation Price multiples at each fiscal year-end price.
HNRG returns How much profit the business earns on the capital it uses.
HNRG per-share figures Results divided by the shares outstanding at year-end.
HNRG financial health Debt, liquidity and how easily interest is covered.
HNRG efficiency & capital use Working capital cycle and where the cash goes.
HNRG valuation history
HNRG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HNRG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HNRG cash returned to shareholders
HNRG price vs earnings per share
HNRG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $826.9M | $452.3M | $325.6M | $336.2M | $75.3M | $44.8M | $89.9M | $152.5M | $180.6M | $266.0M |
| Enterprise value | $855.9M | $498.1M | $417.3M | $431.9M | $180.5M | $174.9M | $254.4M | $315.7M | $363.7M | $480.8M |
| P/E ratio | 19.7 | — | 7.3 | 18.6 | — | — | — | 20.0 | 5.5 | 21.3 |
| Price / sales | 1.8 | 1.1 | 0.5 | 0.9 | 0.3 | 0.2 | 0.3 | 0.5 | 0.7 | 1.0 |
| Price / book | 5.2 | 4.3 | 1.2 | 1.6 | 0.4 | 0.2 | 0.5 | 0.6 | 0.7 | 1.2 |
| Price / free cash flow | 69.4 | 36.0 | — | — | 3.8 | 1.4 | 33.2 | 9.3 | 5.5 | 14.2 |
| Price / operating cash flow | 10.2 | 6.9 | 5.5 | 6.2 | 1.6 | 0.9 | 2.3 | 3.0 | 2.9 | 4.4 |
| EV / sales | 1.8 | 1.2 | 0.7 | 1.2 | 0.7 | 0.7 | 0.8 | 1.1 | 1.4 | 1.7 |
| EV / EBITDA | 8.3 | — | 3.3 | 5.8 | 4.0 | 4.2 | — | 4.9 | 5.6 | 8.1 |
| EV / free cash flow | 71.8 | 39.6 | — | — | 9.1 | 5.5 | 93.9 | 19.2 | 11.0 | 25.7 |
| Earnings yield | 5.1% | −50.0% | 13.8% | 5.4% | −5.0% | −13.9% | −66.6% | 5.0% | 18.3% | 4.7% |
| Free cash flow yield | 1.4% | 2.8% | −4.9% | 0.0% | 26.5% | 71.2% | 3.0% | 10.8% | 18.2% | 7.0% |
| Dividend yield | — | — | — | — | 0.0% | 2.8% | 5.5% | 3.2% | 2.7% | 1.8% |
| Shareholder yield (dividends + buybacks) | — | — | 0.6% | 0.2% | 0.4% | 2.9% | 5.9% | 3.4% | 4.5% | 1.8% |
| Share price at fiscal year-end | $19.04 | $11.45 | $8.84 | $9.99 | $2.46 | $1.47 | $2.97 | $5.07 | $6.09 | $9.09 |
| Per share | ||||||||||
| Revenue per share | $10.81 | $10.24 | $17.24 | $10.76 | $8.09 | $8.02 | $10.49 | $9.70 | $9.04 | $9.53 |
| Earnings per share | $0.96 | −$5.72 | $1.22 | $0.54 | −$0.12 | −$0.20 | −$1.98 | $0.25 | $1.12 | $0.43 |
| Operating cash flow per share | $1.87 | $1.67 | $1.61 | $1.61 | $1.57 | $1.73 | $1.26 | $1.71 | $2.08 | $2.08 |
| Free cash flow per share | $0.27 | $0.32 | −$0.43 | $0.00 | $0.65 | $1.05 | $0.09 | $0.55 | $1.11 | $0.64 |
| Cash per share | $0.23 | $0.18 | $0.08 | $0.19 | $0.08 | $0.40 | $0.30 | $0.59 | $0.54 | $0.64 |
| Book value per share | $3.68 | $2.64 | $7.29 | $6.39 | $5.95 | $6.08 | $6.33 | $8.47 | $8.41 | $7.41 |
| Tangible book value per share | $3.68 | $2.64 | $7.29 | $6.39 | $5.95 | $6.08 | $6.33 | $8.47 | $8.41 | $7.41 |
| Dividends per share | — | — | — | — | $0.00 | $0.04 | $0.16 | $0.16 | $0.16 | $0.16 |
| Capex per share | $1.59 | $1.35 | $2.05 | $1.61 | $0.92 | $0.68 | $1.17 | $1.17 | $0.96 | $1.44 |
| Debt per share | $0.90 | $1.34 | $2.57 | $3.04 | $3.52 | $4.67 | $5.74 | $6.02 | $6.71 | $7.99 |
| Shares outstanding | 43.4M | 39.5M | 36.8M | 33.6M | 30.6M | 30.4M | 30.3M | 30.1M | 29.7M | 29.3M |
| Change in shares outstanding | +9.9% | +7.3% | +9.4% | +9.9% | +0.6% | +0.6% | +0.6% | +1.4% | +1.4% | +0.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 31.7% | −121.3% | 18.5% | 9.1% | −2.0% | −3.3% | −26.8% | 3.0% | 14.2% | 5.9% |
| Return on invested capital (ROIC) | 34.5% | −67.5% | 17.6% | 9.3% | −1.6% | 0.7% | 1.2% | 4.2% | 6.1% | 9.5% |
| Return on assets (ROA) | 10.4% | −47.2% | 7.2% | 3.6% | −1.0% | −1.5% | −12.7% | 1.5% | 6.3% | 2.3% |
| Return on tangible assets | 9.6% | −61.3% | 7.6% | 2.8% | −1.1% | −1.6% | −14.1% | 1.5% | 6.4% | 2.4% |
| Free cash flow margin | 2.5% | 3.1% | −2.5% | 0.0% | 8.0% | 13.1% | 0.9% | 5.6% | 12.3% | 6.7% |
| Income quality (OCF / net income) | 1.94 | — | 1.33 | 2.99 | — | — | — | 6.77 | 1.86 | 4.87 |
| Financial health | ||||||||||
| Total debt | $39.1M | $53.1M | $94.5M | $102.2M | $107.8M | $142.2M | $173.6M | $181.0M | $198.9M | $233.7M |
| Cash & short-term investments | $10.1M | $7.2M | $2.8M | $6.4M | $2.5M | $12.1M | $9.0M | $17.8M | $15.9M | $18.9M |
| Net debt | $29.0M | $45.8M | $91.7M | $95.8M | $105.2M | $130.1M | $164.6M | $163.2M | $183.1M | $214.9M |
| Debt / equity | 0.24 | 0.51 | 0.35 | 0.48 | 0.59 | 0.77 | 0.91 | 0.71 | 0.80 | 1.08 |
| Debt / assets | 0.09 | 0.14 | 0.16 | 0.16 | 0.30 | 0.37 | 0.41 | 0.35 | 0.38 | 0.44 |
| Net debt / EBITDA | 0.28 | — | 0.72 | 1.28 | 2.35 | 3.14 | — | 2.55 | 2.79 | 3.61 |
| Current ratio | 0.81 | 0.69 | 0.59 | 0.58 | 0.61 | 0.89 | 1.27 | 1.64 | 1.25 | 1.70 |
| Quick ratio | 0.53 | 0.19 | 0.20 | 0.25 | 0.33 | 0.42 | 0.65 | 1.06 | 0.83 | 1.28 |
| Interest coverage | 3.6 | -15.8 | 4.7 | 2.6 | -0.5 | 0.2 | 0.4 | 1.1 | 2.1 | 2.8 |
| Working capital | −$29.2M | −$48.0M | −$64.8M | −$101.1M | −$25.4M | −$7.9M | $17.6M | $33.2M | $13.4M | $34.0M |
| Invested capital | $188.8M | $150.1M | $360.3M | $310.8M | $287.5M | $315.4M | $356.1M | $418.1M | $432.4M | $431.8M |
| Tangible asset value | $159.8M | $104.3M | $268.6M | $215.0M | $186.2M | $189.3M | $195.5M | $258.9M | $249.3M | $216.9M |
| Net current asset value | −$154.2M | −$160.0M | −$228.4M | −$300.5M | −$128.5M | −$131.5M | −$147.6M | −$171.6M | −$201.2M | −$228.9M |
| Graham number | $8.93 | — | $14.13 | $8.80 | — | — | — | $6.95 | $14.52 | $8.44 |
| Graham net-net per share | −$5.43 | −$5.27 | −$7.40 | −$10.59 | −$4.77 | −$5.10 | −$6.01 | −$6.98 | −$7.72 | −$9.09 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $0 | $1.2M | $5.0M | $4.9M | $4.9M | $4.8M |
| Share buybacks (net) | — | — | $2.1M | $585,000 | $274,000 | $75,000 | $358,000 | $298,000 | $3.2M | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | 64.8% | 14.8% | 38.4% |
| Dividends + buybacks / free cash flow | — | — | — | 392.6% | 1.4% | 4.1% | 196.4% | 31.8% | 24.6% | 25.6% |
| Capex / revenue | 14.7% | 13.2% | 11.9% | 14.9% | 11.3% | 8.5% | 11.2% | 12.0% | 10.7% | 15.1% |
| Capex / operating cash flow | 85.3% | 80.9% | 126.8% | 99.7% | 58.5% | 39.3% | 92.9% | 68.0% | 46.5% | 69.3% |
| Capex / depreciation | 1.68 | 0.81 | 1.12 | 1.15 | 0.70 | 0.49 | 0.28 | 0.79 | 0.74 | 1.19 |
| Stock-based compensation / revenue | 0.8% | 1.1% | 0.6% | 0.4% | 0.4% | 0.5% | 0.6% | 1.1% | 2.7% | 0.9% |
| R&D / revenue | — | — | — | — | — | 0.1% | — | 0.4% | 0.3% | 0.6% |
| SG&A / revenue | 5.6% | 35.3% | 28.3% | 4.5% | 6.2% | 5.1% | 4.0% | 4.1% | 5.6% | 3.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 11.4 | 16.0 | 19.9 | 31.8 | 20.6 | 29.9 | 25.3 | 22.0 | 26.6 | 25.5 |
| Days of inventory on hand | 56.5 | 140.8 | 84.3 | 65.6 | 47.1 | 72.3 | 43.2 | 37.3 | 34.4 | 37.1 |
| Days payables outstanding | 17.6 | 69.4 | 63.8 | 61.7 | 39.1 | 27.5 | 15.5 | 11.2 | 7.1 | 24.8 |
| Cash conversion cycle (days) | 50.3 | 87.3 | 40.5 | 35.7 | 28.6 | 74.6 | 53.0 | 48.1 | 53.9 | 37.8 |
| Receivables turnover | 31.91 | 22.86 | 18.30 | 11.48 | 17.69 | 12.21 | 14.43 | 16.58 | 13.73 | 14.31 |
| Payables turnover | 20.72 | 5.26 | 5.72 | 5.92 | 9.33 | 13.25 | 23.51 | 32.55 | 51.75 | 14.73 |
| Inventory turnover | 6.46 | 2.59 | 4.33 | 5.57 | 7.76 | 5.05 | 8.44 | 9.79 | 10.63 | 9.85 |
| Asset turnover | 1.16 | 0.84 | 1.02 | 0.72 | 0.67 | 0.60 | 0.67 | 0.56 | 0.51 | 0.52 |
| Average receivables | $14.7M | $17.7M | $34.7M | $31.5M | $14.0M | $20.0M | $22.0M | $17.6M | $19.5M | $19.5M |
| Average payables | $18.4M | $34.0M | $53.0M | $45.1M | $21.3M | $14.0M | $12.6M | $8.0M | $4.4M | $15.5M |
| Average inventory | $59.2M | $68.9M | $70.0M | $47.9M | $25.6M | $36.8M | $35.1M | $26.5M | $21.5M | $23.2M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from HNRG's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
HNRG valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Hallador Energy traded at 19.7 times earnings, against a 10-year median of 19.2. Based on the latest twelve months, the trailing P/E is 585.5 and the forward P/E is 17.1. Hallador Energy earned a return on equity of 31.7% and a return on invested capital of 34.5% in fiscal 2025. It ended the year with $39.1 million of debt and $10.1 million in cash and short-term investments, net debt of $29.0 million. The share count rose 48.4% from 29.3M to 43.4M over 9 years.
See the HNRG income statement, the HNRG chart for price history, or the HNRG stock overview for the latest quote and news.
HNRG key metrics FAQ
What is Hallador Energy's P/E ratio?
Hallador Energy's trailing P/E ratio is 585.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 17.1. At the end of fiscal 2025 it was 19.7, compared with a 10-year median of 19.2.
What is Hallador Energy's EV/EBITDA?
Hallador Energy's enterprise value was 8.3 times EBITDA at the end of fiscal 2025 (enterprise value $855.9 million, EBITDA $103.3 million); the current EV/EBITDA is 12.5.
What is Hallador Energy's return on equity?
Hallador Energy's return on equity (ROE) was 31.7% in fiscal 2025: net income of $41.9 million on average shareholders' equity of $132.1 million.
What is Hallador Energy's ROIC?
Hallador Energy's return on invested capital was 34.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Hallador Energy have?
Hallador Energy had total debt of $39.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.24 and $29.0 million of net debt (0.28 times EBITDA).
What is Hallador Energy's free cash flow yield?
Hallador Energy generated $11.9 million of free cash flow in fiscal 2025, a free cash flow yield of 1.4% on its market value at year-end ($826.9 million).
What is Hallador Energy's current ratio?
Hallador Energy's current ratio was 0.81 at the end of fiscal 2025: current assets were 0.81 times current liabilities.