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Nasdaq · Utilities

HALLADOR ENERGY CO (HNRG)

As-reported financials and SEC filings for HALLADOR ENERGY CO. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About HALLADOR ENERGY CO

Hallador Energy Company is an independent power producer and fuel company operating primarily in Indiana. It provides accredited capacity and electricity to utilities and energy market participants through its electric operations segment, and mines bituminous coal to supply power plants in the Midwest and Southeast United States through its coal operations segment. The company serves utilities and energy markets across these regions.

Snapshot

Revenue
$469.5M
Revenue growth (YoY)
16.2%
Net income
$41.9M
Diluted EPS
$0.96
Gross margin
Operating margin
13.0%
Net margin
8.9%
FCF margin
2.5%
ROE
26.2%
net income / fiscal-year-end equity
P/E
812.0×
trailing when available, otherwise FY EPS
Market cap
$765.6M
Long-term debt / equity
0.19×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Hallador Energy

  • Revenue grew 16.2% to $469M in FY2025, after a 36.3% decline the year before.
  • Operating margin turned positive at 13.0% in FY2025, from a 2.5% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $102M, down 1.3% from Q2 FY2025.
  • Free cash flow was $12M in FY2025, 2.5% of revenue.
  • Net income turned positive at $42M in FY2025, from a $226M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Hallador Energy’s fundamentals sit among the 98 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin13.0%
27th percentile of 86
Net margin8.9%
32nd percentile of 91
FCF margin2.5%
64th percentile of 76
Revenue growth (YoY)+16.2%
76th percentile of 94
ROE26.2%
98th percentile of 89
P/E812.0×
99th percentile of 83
Long-term debt / equity0.19×
6th percentile of 84
Short interest3.44d
32nd percentile of 98

Hallador Energy’s P/E of 812.0 ranks in the 99th percentile of the 83 peers with a meaningful P/E. Hallador Energy’s return on equity of 26.2% ranks in the 98th percentile of the 89 Utilities companies reporting it. Hallador Energy’s long-term debt to equity of 0.19 ranks in the 6th percentile of the 84 Utilities companies reporting it.

9 reported insider purchases (code P) totaling $674,796 in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+7 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
4
4 trimmed, 0 exited
Combined position
$53.8M
reported long value
InvestorAs ofPosition valueSharesChange
Point72 Asset ManagementquantQ2 2026$36.9M2.1MAdded
D. E. ShawquantQ2 2026$6.7M383.6KAdded
Renaissance TechnologiesquantQ2 2026$3.8M219.9KReduced
Citadel AdvisorsquantQ2 2026$2.7M153.3KReduced
AQR Capital ManagementquantQ2 2026$2.2M124.6KAdded
Two Sigma InvestmentsquantQ2 2026$701,07840.3KAdded
Gotham Asset ManagementQ2 2026$456,17426.2KReduced
Millennium ManagementquantQ2 2026$409,74323.6KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
9
3 insiders
Bought (90d)
$675K
code P value
Sells (90d)
0
Reported activity
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-07-14
filed 2026-07-15
Sugg Barbara AnnDirectorBuy3.7K$17.13$63K
2026-07-14
filed 2026-07-15
Sugg Barbara AnnDirectorBuy1.3K$17.13$22K
2026-07-09
filed 2026-07-10
Hudson Daniel TimothyDirectorBuy2.5K$16.60$42K
2026-07-09
filed 2026-07-10
Hudson Daniel TimothyDirectorBuy2.5K$16.57$41K
2026-06-29
filed 2026-06-30
Hudson Daniel TimothyDirectorBuy5.0K$16.98$85K
2026-06-29
filed 2026-06-30
Hudson Daniel TimothyDirectorBuy5.0K$16.90$85K
2026-06-25
Hudson Daniel TimothyDirectorBuy2.0K$17.70$35K
2026-06-24
filed 2026-06-25
Hudson Daniel TimothyDirectorBuy3.0K$17.04$51K
2026-06-16
filed 2026-06-17
Wesley Charles Ray IVDirectorBuy15.0K$16.69$250K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
3.4M
settled 2026-08-14
Change vs prior
+6.0%
vs previous settlement
Days to cover
3.44
at avg daily volume
Avg daily volume
980.0K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-143.4M+6.0%3.44
2026-07-313.2M-3.0%4.33
2026-07-153.3M+1.5%4.54
2026-06-303.2M+21.2%3.42
2026-06-152.7M+3.6%3.74
2026-05-292.6M-12.0%3.86
2026-05-152.9M-0.6%2.13
2026-04-302.9M+14.6%2.92

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$469.5M$404.2M$634.9M$362.0M$243.9M
Gross profit$95.4M$45.1M
Operating income$61.1M$-218.4M$65.0M$30.4M$-6.0M
Net income$41.9M$-226.1M$44.8M$18.1M$-3.8M
Diluted EPS$0.96$-5.72$1.25$0.55$-0.12

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$81.1M$65.9M$59.4M$54.2M$48.0M
Capital expenditure$69.2M$53.4M$75.4M$54.0M$28.1M
Free cash flow$11.9M$12.6M$-15.9M$149,000$19.9M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$101.5M-1.3%$-15.2M$-0.32
Q1 FY2026$101.8M-13.5%$-9.3M$-0.20
Q4 FY2025$101.9M9.2%$-240,000$-0.01
Q3 FY2025$146.8M39.6%$23.9M$0.55
Q2 FY2025$102.8M9.6%$8.2M$0.19
Q1 FY2025$117.7M5.5%$10.0M$0.23
Q4 FY2024$93.4M-21.9%$-215.8M$-5.06
Q3 FY2024$105.2M-36.6%$1.6M$0.04

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorUtilities
SIC industryElectric Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing1995
SEC CIK788965

Selected SEC filings

10-K2026-03-12
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-06
View on EDGAR →
8-K2026-08-14
View on EDGAR →
8-K2026-08-10
View on EDGAR →
8-K2026-06-26
View on EDGAR →
8-K2026-06-11
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.