Hallador Energy (HNRG) Financials

$16.29 +0.23 (+1.43%)

Closing price 06/18/2025 04:00 PM Eastern

Extended Trading

$16.26 -0.03 (-0.18%)

As of 05:14 AM Eastern

Annual Income Statements for Hallador Energy

This table shows Hallador Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	10	20	13	33	287	-62	-6.22	-6.32	17	45	-226
Consolidated Net Income / (Loss)	10	20	13	33	7.62	-60	-6.22	-3.75	18	45	-226
Net Income / (Loss) Continuing Operations	10	20	13	33	287	-62	-6.22	-6.32	17	45	-226
Total Pre-Tax Income	11	28	8.48	14	3.55	-82	-8.88	-3.73	20	49	-236
Total Operating Income	20	43	23	26	313	-66	3.10	-6.04	30	65	-218
Total Gross Profit	71	102	89	81	372	76	58	49	95	161	94
Total Revenue	241	340	281	272	587	323	244	248	362	635	404
Operating Revenue	239	338	277	272	587	317	244	244	362	635	399
Other Revenue	1.75	2.24	3.96	-	-	6.03	-	3.76	-	-	5.42
Total Cost of Revenue	170	238	193	190	215	248	186	199	267	473	311
Operating Cost of Revenue	170	238	193	190	215	248	186	199	267	473	311
Total Operating Expenses	52	59	65	55	58	142	55	55	65	96	312
Selling, General & Admin Expense	12	13	11	15	12	13	12	15	16	26	27
Exploration Expense	2.36	2.04	1.67	0.85	1.19	1.23	0.77	0.48	0.65	0.90	0.26
Depreciation Expense	29	44	36	38	44	49	40	40	47	67	66
Other Operating Expenses / (Income)	-	0.50	1.03	0.86	1.17	1.27	1.38	-2.01	1.01	1.80	1.63
Impairment Charge	-	-	17	-	0.00	78	1.80	1.59	-	0.00	215
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	-	-	2.70
Total Other Income / (Expense), net	-9.06	-16	-15	-12	-30	-18	-12	-0.25	-11	-16	-19
Interest Expense	9.06	16	15	12	28	16	11	-1.95	8.28	12	17
Interest & Investment Income	-	-	-	-	-	-	1.05	0.36	0.44	-0.55	-0.75
Other Income / (Expense), net	-	-	-	-	-2.02	-2.10	-2.36	-2.56	-3.60	-3.63	-1.75
Income Tax Expense	0.48	7.44	-4.03	-19	-4.08	-22	-2.66	0.03	1.76	4.47	-9.40
Basic Earnings per Share	$0.34	$0.68	$0.42	$1.08	$0.25	($1.95)	($0.20)	($0.12)	$0.57	$1.35	($5.72)
Weighted Average Basic Shares Outstanding	28.78M	29.03M	29.26M	29.66M	30.07M	30.25M	30.45M	30.61M	32.04M	33.13M	39.50M
Diluted Earnings per Share	$0.34	$0.68	$0.42	$1.08	$0.25	($1.95)	($0.20)	($0.12)	$0.55	$1.25	($5.72)
Weighted Average Diluted Shares Outstanding	28.78M	29.03M	29.26M	29.66M	30.07M	30.25M	30.45M	30.61M	33.65M	36.83M	39.50M
Weighted Average Basic & Diluted Shares Outstanding	28.78M	29.03M	29.26M	29.66M	30.07M	30.25M	30.45M	30.61M	32.98M	34.89M	42.62M

This table shows Hallador Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.61	29	22	17	16	-10	-2.10	-10	1.12	-215	9.48
Consolidated Net Income / (Loss)	1.61	30	22	17	16	-10	-1.70	-10	1.55	-216	9.98
Net Income / (Loss) Continuing Operations	1.61	29	22	17	16	-10	-2.10	-10	1.12	-215	9.48
Total Pre-Tax Income	2.21	31	25	18	19	-14	-2.31	-13	1.79	-222	9.98
Total Operating Income	5.40	35	29	22	24	-10	2.73	-7.29	4.71	-218	14
Total Gross Profit	21	56	55	46	47	14	25	15	25	29	36
Total Revenue	85	152	188	161	166	120	112	91	105	99	118
Operating Revenue	85	152	187	160	166	123	110	90	103	98	116
Other Revenue	-	-	1.34	1.60	-	-	1.26	1.27	1.67	1.20	1.66
Total Cost of Revenue	65	96	134	115	119	105	87	76	80	70	82
Operating Cost of Revenue	65	96	134	115	119	105	87	76	80	70	82
Total Operating Expenses	15	21	26	24	23	24	22	22	21	247	22
Selling, General & Admin Expense	3.57	5.98	6.95	5.60	6.05	7.56	5.94	7.80	6.47	6.31	6.83
Exploration Expense	0.12	0.26	0.21	0.31	0.17	0.22	0.07	0.05	0.06	0.08	0.02
Depreciation Expense	11	15	18	17	16	16	15	14	14	23	15
Other Operating Expenses / (Income)	0.26	0.26	0.45	0.46	0.47	0.42	0.40	0.40	0.41	0.42	0.43
Other Special Charges / (Income)	-	-	-	-	-	-	-0.02	-	-	-	-0.02
Total Other Income / (Expense), net	-3.19	-4.14	-3.83	-3.76	-4.70	-3.87	-5.44	-5.93	-3.36	-4.80	-4.46
Interest Expense	2.36	2.36	3.90	3.54	3.92	0.61	4.79	5.67	2.69	3.49	3.72
Interest & Investment Income	0.17	-0.06	0.07	-0.22	-0.18	-0.23	-0.25	-0.26	-0.23	-0.01	-0.24
Other Income / (Expense), net	-1.00	-1.72	-	-	-0.60	-	-0.40	-	-0.44	-	-0.50
Income Tax Expense	0.60	0.92	3.35	1.57	3.03	-3.49	-0.61	-3.01	0.23	-6.02	0.00
Basic Earnings per Share	$0.05	$0.96	$0.67	$0.51	$0.49	($0.32)	($0.05)	($0.27)	$0.04	($5.44)	$0.23
Weighted Average Basic Shares Outstanding	32.98M	32.04M	32.98M	33.14M	33.14M	33.13M	34.82M	37.88M	42.60M	39.50M	42.62M
Diluted Earnings per Share	$0.05	$0.94	$0.61	$0.47	$0.44	($0.27)	($0.05)	($0.27)	$0.04	($5.44)	$0.23
Weighted Average Diluted Shares Outstanding	33.27M	33.65M	36.74M	36.71M	36.85M	36.83M	34.82M	37.88M	43.02M	39.50M	43.46M
Weighted Average Basic & Diluted Shares Outstanding	32.98M	32.98M	33.14M	33.14M	33.14M	34.89M	37.03M	42.60M	42.62M	42.62M	42.98M

This table details how cash moves in and out of Hallador Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-2.76	2.46	-6.14	3.69	3.80	-6.78	-1.24	-6.24	0.60	0.70	5.03
Net Cash From Operating Activities	56	95	61	66	52	38	53	48	54	59	66
Net Cash From Continuing Operating Activities	56	95	61	66	52	38	53	48	54	59	66
Net Income / (Loss) Continuing Operations	10	20	13	33	7.62	-60	-6.22	-3.75	18	45	-226
Consolidated Net Income / (Loss)	10	20	13	33	7.62	-60	-6.22	-3.75	18	45	-226
Depreciation Expense	29	44	36	38	44	49	40	40	47	67	66
Amortization Expense	1.57	1.39	3.92	11	2.02	2.10	2.30	2.56	-16	-94	-68
Non-Cash Adjustments To Reconcile Net Income	5.28	4.21	25	7.98	6.11	80	4.88	-13	-2.30	5.04	223
Changes in Operating Assets and Liabilities, net	9.54	25	-16	-25	-8.35	-33	12	22	7.62	36	71
Net Cash From Investing Activities	-337	-31	-49	-22	-26	-30	-18	-28	-53	-75	-46
Net Cash From Continuing Investing Activities	-337	-31	-49	-22	-26	-30	-18	-28	-53	-75	-46
Purchase of Property, Plant & Equipment	-26	-31	-42	-29	-35	-36	-21	-28	-54	-75	-53
Acquisitions	-	-	-	-	-	0.00	-0.11	-	-	0.00	-0.54
Sale of Property, Plant & Equipment	-	-	-	0.51	0.08	0.13	0.06	0.53	0.66	0.06	4.24
Other Investing Activities, net	-311	0.64	-7.13	-	-	-	-	-	-	0.00	3.20
Net Cash From Financing Activities	279	-62	-18	-40	-22	-15	-36	-27	-0.21	17	-14
Net Cash From Continuing Financing Activities	279	-62	-18	-40	-22	-15	-36	-27	-0.21	17	-14
Repayment of Debt	-67	-57	-37	-37	-40	-43	-52	-47	-80	-66	-153
Issuance of Debt	350	-	24	-	19	34	17	20	81	66	105
Issuance of Common Equity	-	-	-	-	4.00	-	-	-	0.00	7.32	35
Other Financing Activities, net	-	-	-	1.73	-0.30	-0.36	-0.08	-0.27	0.00	8.98	-0.78
Cash Interest Paid	5.01	14	12	12	11	12	11	8.72	8.12	9.97	11

This table details how cash moves in and out of Hallador Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-1.89	-4.06	-0.08	0.02	0.35	0.41	-0.75	4.36	-1.09	2.51	4.05
Net Cash From Operating Activities	14	40	26	18	35	-20	16	24	-13	39	38
Net Cash From Continuing Operating Activities	14	40	26	18	35	-20	16	24	-13	39	38
Net Income / (Loss) Continuing Operations	1.61	30	22	17	16	-10	-1.70	-10	1.55	-216	9.98
Consolidated Net Income / (Loss)	1.61	30	22	17	16	-10	-1.70	-10	1.55	-216	9.98
Depreciation Expense	11	15	18	17	16	16	15	14	14	23	15
Amortization Expense	1.00	-19	-14	-5.57	-9.68	-64	-24	-12	-11	-34	-35
Non-Cash Adjustments To Reconcile Net Income	-1.09	0.79	1.88	0.93	1.57	0.65	1.50	3.99	1.21	217	3.13
Changes in Operating Assets and Liabilities, net	0.95	13	-1.44	-11	11	38	25	28	-19	49	46
Net Cash From Investing Activities	-15	-16	-13	-17	-18	-27	-15	-11	-11	-10	-12
Net Cash From Continuing Investing Activities	-15	-16	-14	-17	-18	-27	-15	-11	-11	-10	-12
Purchase of Property, Plant & Equipment	-15	-16	-14	-17	-18	-27	-15	-13	-12	-14	-12
Sale of Property, Plant & Equipment	-	-0.10	0.02	0.05	-	-	0.02	2.45	0.90	0.87	0.02
Other Investing Activities, net	-	-	0.00	-	-	-	-	-	-	-	0.00
Net Cash From Financing Activities	-0.11	-29	-13	-1.03	-17	47	-2.27	-8.45	22	-26	-23
Net Cash From Continuing Financing Activities	-0.11	-29	-13	-1.03	-17	47	-2.27	-8.45	22	-26	-23
Repayment of Debt	-23	-43	-29	-10	-24	-3.32	-27	-65	-0.58	-61	-33
Issuance of Debt	23	14	17	9.00	7.00	33	17	29	25	35	12
Issuance of Common Equity	-	-	0.00	-	-	7.32	6.58	28	-	-	0.00
Other Financing Activities, net	-	-	-1.11	-	-0.04	10	0.69	0.16	-1.44	-0.18	-1.69
Cash Interest Paid	0.74	3.33	3.12	1.89	3.06	1.90	3.08	3.23	2.37	1.83	1.83

This table presents Hallador Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	580	540	531	518	515	426	384	354	631	590	369
Total Current Assets	84	67	83	68	85	82	63	39	139	93	105
Cash & Equivalents	13	16	9.79	12	16	8.80	8.04	2.55	3.01	2.84	7.23
Restricted Cash	-	-	2.82	3.81	4.59	4.51	4.03	3.28	3.42	4.28	4.92
Accounts Receivable	27	17	22	17	18	26	14	14	30	20	15
Inventories, net	35	26	20	23	30	40	34	18	78	62	76
Prepaid Expenses	-	1.19	9.65	5.48	11	1.68	3.28	2.11	4.55	2.26	1.48
Plant, Property, & Equipment, net	458	445	423	424	413	330	309	303	480	489	258
Plant, Property & Equipment, gross	564	595	592	627	637	1,101	562	571	790	824	606
Accumulated Depreciation	107	150	170	203	225	221	252	268	309	335	348
Total Noncurrent Assets	38	29	26	27	18	13	11	12	12	8.33	6.56
Long-Term Investments	19	17	12	12	3.67	3.14	3.18	3.55	3.99	2.81	2.61
Other Noncurrent Operating Assets	20	11	14	15	14	10	8.26	8.37	7.59	5.52	3.95
Total Liabilities & Shareholders' Equity	580	540	531	518	515	426	384	354	631	590	369
Total Liabilities	390	334	314	269	257	230	195	168	416	321	265
Total Current Liabilities	50	51	49	54	52	65	71	65	240	158	153
Short-Term Debt	22	25	29	33	25	33	40	23	33	24	4.10
Accounts Payable	28	26	20	21	26	32	31	42	83	63	44
Current Deferred Revenue	-	-	-	-	-	-	-	0.00	35	66	98
Other Current Liabilities	-	-	-	-	-	-	-	0.00	88	3.93	6.91
Total Noncurrent Liabilities	340	283	266	215	205	165	124	103	176	164	112
Long-Term Debt	284	220	205	166	156	141	102	85	69	82	37
Capital Lease Obligations	-	-	-	-	-	-	-	-	0.00	8.16	8.75
Asset Retirement Reserve & Litigation Obligation	12	12	13	14	15	16	16	14	17	15	15
Noncurrent Deferred Revenue	-	-	-	-	-	-	-	-	-	47	49
Other Noncurrent Operating Liabilities	1.61	1.75	2.49	6.58	8.13	4.08	2.84	1.58	85	1.79	1.71
Commitments & Contingencies	0.00	-	-	-	-	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	190	207	217	249	259	192	185	182	215	269	104
Total Preferred & Common Equity	190	207	217	249	255	192	185	182	215	269	104
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-	0.00
Total Common Equity	190	207	217	249	255	192	185	182	215	269	104
Common Stock	91	93	94	98	101	103	104	104	119	128	190
Retained Earnings	99	114	122	150	154	89	82	78	96	141	-85

This table presents Hallador Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	376	383	617	600	585	585	595	580	366
Total Current Assets	57	58	130	113	92	93	104	100	107
Cash & Equivalents	8.88	7.00	2.44	2.34	2.57	1.64	6.45	3.83	6.89
Restricted Cash	3.49	3.48	3.91	4.03	4.14	4.74	4.28	5.81	9.32
Accounts Receivable	17	17	33	21	21	14	19	12	13
Inventories, net	26	29	81	82	61	70	72	71	76
Prepaid Expenses	1.00	2.22	3.38	3.10	4.16	2.61	2.03	5.96	1.81
Plant, Property, & Equipment, net	307	313	476	477	483	482	482	472	253
Plant, Property & Equipment, gross	594	611	802	820	842	831	831	832	613
Accumulated Depreciation	287	298	326	343	359	349	349	360	361
Total Noncurrent Assets	12	12	11	10	10	9.69	9.48	7.86	6.27
Long-Term Investments	3.88	4.05	3.43	3.22	3.04	2.56	2.31	2.07	2.37
Other Noncurrent Operating Assets	8.13	7.83	7.28	7.18	7.15	7.13	7.18	5.79	3.90
Total Liabilities & Shareholders' Equity	376	383	617	600	585	585	595	580	366
Total Liabilities	193	199	379	345	313	302	279	261	251
Total Current Liabilities	61	163	209	178	172	164	196	172	177
Short-Term Debt	13	110	32	18	21	29	18	24	17
Accounts Payable	48	52	84	71	77	47	46	43	46
Current Deferred Revenue	-	-	38	41	26	41	85	57	107
Other Current Liabilities	-	-	54	48	48	47	47	47	7.07
Total Noncurrent Liabilities	132	37	170	167	142	137	83	89	74
Long-Term Debt	114	19	59	74	55	60	25	43	4.00
Capital Lease Obligations	-	-	-	-	-	9.70	11	9.23	6.92
Asset Retirement Reserve & Litigation Obligation	13	12	17	17	16	15	15	16	15
Noncurrent Deferred Revenue	-	-	-	-	-	5.43	-	-	43
Other Noncurrent Operating Liabilities	1.58	1.72	86	67	58	38	27	16	4.85
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	179	184	237	255	272	284	316	319	115
Total Preferred & Common Equity	179	184	237	255	272	284	316	319	115
Preferred Stock	0.00	0.00	-	0.00	-	-	0.00	0.00	0.00
Total Common Equity	179	184	237	255	272	284	316	319	115
Common Stock	115	118	119	120	121	145	187	188	191
Retained Earnings	64	66	118	135	151	139	129	130	-75

This table displays calculated financial ratios and metrics derived from Hallador Energy's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	56.74%	41.03%	-17.25%	-3.49%	116.14%	-44.91%	-24.49%	1.40%	46.16%	75.39%	-36.30%
EBITDA Growth	1.13%	74.85%	-29.00%	20.27%	373.33%	-104.93%	342.04%	-20.49%	69.69%	-39.54%	-739.91%
EBIT Growth	-36.55%	118.25%	-45.91%	12.73%	1,084.13%	-121.93%	101.07%	-1,272.75%	411.68%	128.79%	-458.26%
NOPAT Growth	-20.03%	66.89%	9.22%	82.15%	975.04%	-106.88%	104.68%	-295.09%	755.66%	113.12%	-358.31%
Net Income Growth	-54.43%	97.01%	-37.86%	164.40%	-76.96%	-885.38%	89.61%	39.65%	582.29%	147.41%	-604.85%
EPS Growth	-56.41%	100.00%	-38.24%	157.14%	-76.85%	-880.00%	89.74%	40.00%	558.33%	127.27%	-557.60%
Operating Cash Flow Growth	105.53%	69.43%	-35.64%	7.97%	-21.59%	-25.84%	37.48%	-8.75%	12.91%	9.68%	10.97%
Free Cash Flow Firm Growth	-2,053.02%	127.46%	-56.45%	86.27%	969.91%	-97.78%	159.83%	-31.39%	-77.54%	-211.27%	1,291.35%
Invested Capital Growth	188.46%	-10.02%	0.11%	-0.14%	-0.68%	-14.83%	-10.45%	-9.82%	7.63%	21.48%	-62.45%
Revenue Q/Q Growth	36.84%	-10.94%	2.24%	-0.60%	114.96%	-54.91%	45.37%	-0.06%	31.43%	-4.87%	-4.81%
EBITDA Q/Q Growth	76.60%	-17.36%	-13.44%	46.99%	482.27%	-104.40%	136.97%	-9.10%	52.82%	-72.79%	-3,384.18%
EBIT Q/Q Growth	185.76%	-30.61%	-33.72%	95.15%	1,566.67%	-117.16%	100.46%	-89.60%	458.87%	-44.10%	-2,075.32%
NOPAT Q/Q Growth	237.88%	-37.38%	19.67%	16.42%	671.75%	-116.63%	101.93%	-33.13%	630.07%	-40.55%	-2,058.04%
Net Income Q/Q Growth	113.52%	-30.53%	-25.89%	319.11%	-71.11%	-2,464.84%	89.85%	-402.54%	192.13%	-47.34%	-998.08%
EPS Q/Q Growth	112.50%	-29.90%	-26.32%	300.00%	-70.59%	-2,266.67%	90.00%	0.00%	0.00%	-49.19%	-940.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.84%	7.29%	-33.60%	45.93%	-13.56%	117.74%	-50.39%	859.46%
Free Cash Flow Firm Q/Q Growth	4.71%	-19.85%	-6.28%	-13.86%	838.38%	-94.92%	200.80%	-22.75%	156.82%	-111.26%	258.56%
Invested Capital Q/Q Growth	-3.65%	-3.92%	-2.13%	2.44%	-1.93%	-12.94%	-4.67%	-2.94%	2.60%	9.91%	-63.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	29.64%	30.06%	31.51%	30.00%	63.32%	23.37%	23.86%	19.71%	26.35%	25.44%	23.18%
EBITDA Margin	20.98%	26.01%	22.32%	27.81%	60.90%	-5.45%	17.47%	13.70%	15.90%	5.48%	-55.08%
Operating Margin	8.19%	12.68%	8.29%	9.68%	53.38%	-20.47%	1.27%	-2.44%	8.41%	10.24%	-53.95%
EBIT Margin	8.19%	12.68%	8.29%	9.68%	53.03%	-21.11%	0.30%	-3.48%	7.41%	9.67%	-54.38%
Profit (Net Income) Margin	4.24%	5.92%	4.44%	12.18%	1.30%	-18.50%	-2.55%	-1.52%	5.00%	7.06%	-55.92%
Tax Burden Percent	95.50%	73.02%	147.45%	238.27%	214.92%	72.81%	70.06%	100.70%	91.16%	90.94%	96.01%
Interest Burden Percent	54.15%	63.93%	36.37%	52.79%	1.14%	120.36%	-1,209.54%	43.31%	74.03%	80.25%	107.11%
Effective Tax Rate	4.50%	26.98%	-47.45%	-138.27%	-114.92%	0.00%	0.00%	0.00%	8.84%	9.06%	0.00%
Return on Invested Capital (ROIC)	6.05%	7.16%	8.25%	15.03%	162.20%	-12.10%	0.65%	-1.41%	9.39%	17.43%	-59.66%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.82%	2.46%	-2.42%	-1.06%	-251.01%	-20.76%	-5.27%	-0.99%	-0.77%	2.73%	-165.27%
Return on Net Nonoperating Assets (RNNOA)	-0.56%	2.99%	-2.34%	-0.84%	-159.20%	-14.25%	-3.88%	-0.59%	-0.36%	1.10%	-61.63%
Return on Equity (ROE)	5.49%	10.15%	5.91%	14.19%	3.00%	-26.34%	-3.23%	-2.00%	9.02%	18.52%	-121.29%
Cash Return on Invested Capital (CROIC)	-90.98%	17.71%	8.14%	15.16%	162.88%	3.92%	11.68%	8.92%	2.03%	-1.97%	31.13%
Operating Return on Assets (OROA)	4.83%	7.70%	4.35%	5.01%	60.24%	-14.51%	0.18%	-2.33%	5.45%	10.06%	-45.87%
Return on Assets (ROA)	2.50%	3.60%	2.33%	6.30%	1.47%	-12.72%	-1.54%	-1.02%	3.68%	7.34%	-47.17%
Return on Common Equity (ROCE)	5.49%	10.15%	5.91%	14.19%	2.98%	-25.88%	-3.17%	-1.96%	8.93%	18.52%	-121.29%
Return on Equity Simple (ROE_SIMPLE)	5.38%	9.73%	5.77%	13.27%	2.99%	-31.25%	-3.36%	-2.06%	8.42%	16.68%	-216.85%
Net Operating Profit after Tax (NOPAT)	19	31	34	63	674	-46	2.17	-4.23	28	59	-153
NOPAT Margin	7.82%	9.26%	12.22%	23.06%	114.72%	-14.33%	0.89%	-1.71%	7.66%	9.31%	-37.76%
Net Nonoperating Expense Percent (NNEP)	6.87%	4.70%	10.67%	16.09%	413.21%	8.66%	5.92%	-0.42%	10.16%	14.70%	105.61%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	15.41%	-98.83%
Cost of Revenue to Revenue	70.36%	69.95%	68.49%	70.00%	36.68%	76.63%	76.14%	80.29%	73.65%	74.56%	76.82%
SG&A Expenses to Revenue	4.99%	3.71%	3.74%	5.51%	2.02%	3.97%	4.75%	5.99%	4.54%	4.12%	6.56%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.45%	17.38%	23.22%	20.32%	9.94%	43.84%	22.59%	22.15%	17.94%	15.13%	77.12%
Earnings before Interest and Taxes (EBIT)	20	43	23	26	311	-68	0.73	-8.61	27	61	-220
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	51	88	63	76	358	-18	43	34	58	35	-223
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.56	1.11	0.67	0.57	0.46	0.24	0.41	1.53	1.09	4.68
Price to Tangible Book Value (P/TBV)	0.00	0.56	1.11	0.67	0.57	0.46	0.24	0.41	1.53	1.09	4.68
Price to Revenue (P/Rev)	0.00	0.34	0.85	0.62	0.25	0.27	0.18	0.30	0.91	0.46	1.21
Price to Earnings (P/E)	0.00	5.76	19.17	5.06	0.50	0.00	0.00	0.00	19.11	6.54	0.00
Dividend Yield	1.69%	4.01%	1.95%	2.85%	3.34%	5.51%	10.88%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	17.36%	5.22%	19.77%	198.71%	0.00%	0.00%	0.00%	5.23%	15.29%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.78	1.05	0.80	0.73	0.71	0.55	0.62	1.37	1.07	3.75
Enterprise Value to Revenue (EV/Rev)	0.00	0.96	1.56	1.23	0.52	0.77	0.72	0.72	1.16	0.63	1.29
Enterprise Value to EBITDA (EV/EBITDA)	0.00	3.68	7.01	4.43	0.85	0.00	4.10	5.24	7.31	11.44	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	7.56	18.87	12.73	0.97	0.00	238.62	0.00	15.69	6.49	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	10.35	12.80	5.34	0.45	0.00	80.77	0.00	15.17	6.73	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	3.44	7.23	5.09	5.88	6.50	3.33	3.70	7.77	6.70	7.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	4.18	12.97	5.29	0.45	16.56	4.49	6.64	70.00	0.00	6.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.61	1.18	1.08	0.80	0.70	0.89	0.75	0.58	0.47	0.43	0.48
Long-Term Debt to Equity	1.50	1.06	0.94	0.66	0.60	0.72	0.54	0.45	0.32	0.34	0.44
Financial Leverage	0.68	1.22	0.97	0.79	0.63	0.69	0.74	0.60	0.47	0.40	0.37
Leverage Ratio	2.20	2.82	2.53	2.25	2.03	2.07	2.10	1.97	2.45	2.52	2.57
Compound Leverage Factor	1.19	1.80	0.92	1.19	0.02	2.49	-25.45	0.85	1.82	2.03	2.75
Debt to Total Capital	61.74%	54.16%	51.87%	44.38%	41.15%	47.04%	42.80%	36.65%	32.12%	29.99%	32.51%
Short-Term Debt to Total Capital	4.41%	5.51%	6.39%	7.40%	5.77%	8.95%	12.03%	7.86%	10.43%	6.37%	2.65%
Long-Term Debt to Total Capital	57.33%	48.65%	45.48%	36.98%	35.38%	38.08%	30.77%	28.80%	21.69%	23.62%	29.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.91%	1.08%	1.21%	1.36%	0.00%	0.00%	0.00%
Common Equity to Total Capital	38.26%	45.84%	48.13%	55.62%	57.94%	51.88%	55.99%	61.98%	67.88%	70.01%	67.49%
Debt to EBITDA	6.06	2.76	3.72	2.63	0.51	-9.85	3.32	3.18	1.77	3.31	-0.23
Net Debt to EBITDA	5.39	2.37	3.19	2.22	0.43	-8.90	2.96	2.90	1.59	3.02	-0.16
Long-Term Debt to EBITDA	5.62	2.48	3.26	2.19	0.44	-7.97	2.39	2.50	1.19	2.60	-0.21
Debt to NOPAT	16.23	7.76	6.80	3.18	0.27	-3.75	65.30	-25.47	3.67	1.95	-0.33
Net Debt to NOPAT	14.44	6.67	5.83	2.67	0.23	-3.39	58.27	-23.26	3.29	1.78	-0.23
Long-Term Debt to NOPAT	15.08	6.97	5.96	2.65	0.23	-3.03	46.95	-20.01	2.48	1.53	-0.30
Altman Z-Score	0.00	1.43	1.53	1.50	3.96	0.80	1.05	1.11	1.21	2.17	-0.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.79%	1.76%	2.08%	2.13%	1.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	1.31	1.70	1.25	1.64	1.27	0.89	0.61	0.58	0.59	0.69
Quick Ratio	0.85	0.67	0.85	0.60	0.70	0.53	0.32	0.25	0.14	0.14	0.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-284	78	34	63	676	15	39	27	6.01	-6.69	80
Operating Cash Flow to CapEx	216.24%	303.71%	144.39%	233.93%	147.28%	108.03%	254.83%	174.29%	101.51%	78.91%	134.21%
Free Cash Flow to Firm to Interest Expense	-31.33	5.01	2.29	5.09	23.84	0.93	3.66	0.00	0.73	-0.56	4.79
Operating Cash Flow to Interest Expense	6.17	6.08	4.10	5.30	1.82	2.36	4.93	0.00	6.54	4.96	3.96
Operating Cash Flow Less CapEx to Interest Expense	3.32	4.08	1.26	3.03	0.58	0.18	2.99	0.00	0.10	-1.33	1.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.61	0.53	0.52	1.14	0.69	0.60	0.67	0.74	1.04	0.84
Accounts Receivable Turnover	12.74	15.47	14.44	13.91	33.37	14.70	12.21	17.69	16.65	25.48	22.86
Inventory Turnover	8.03	7.82	8.32	8.84	8.13	7.06	5.05	7.76	5.57	6.76	4.51
Fixed Asset Turnover	0.75	0.75	0.65	0.64	1.40	0.87	0.76	0.81	0.92	1.31	1.08
Accounts Payable Turnover	8.82	8.76	8.36	9.27	9.06	8.51	5.88	5.45	4.28	6.49	5.80
Days Sales Outstanding (DSO)	28.66	23.59	25.28	26.25	10.94	24.83	29.88	20.63	21.92	14.32	15.96
Days Inventory Outstanding (DIO)	45.43	46.65	43.89	41.31	44.91	51.70	72.27	47.07	65.58	53.99	80.91
Days Payable Outstanding (DPO)	41.37	41.65	43.64	39.38	40.28	42.87	62.03	66.94	85.22	56.24	62.98
Cash Conversion Cycle (CCC)	32.73	28.60	25.52	28.17	15.57	33.67	40.12	0.75	2.27	12.07	33.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	463	417	417	417	414	352	316	285	306	372	140
Invested Capital Turnover	0.77	0.77	0.67	0.65	1.41	0.84	0.73	0.83	1.23	1.87	1.58
Increase / (Decrease) in Invested Capital	303	-46	0.46	-0.57	-2.85	-61	-37	-31	22	66	-232
Enterprise Value (EV)	0.00	326	440	335	303	249	175	178	421	398	523
Market Capitalization	0.00	116	240	167	144	88	45	75	329	293	488
Book Value per Share	$6.60	$7.12	$7.41	$8.36	$8.45	$6.33	$6.08	$5.95	$6.52	$8.10	$2.45
Tangible Book Value per Share	$6.60	$7.12	$7.41	$8.36	$8.45	$6.33	$6.08	$5.95	$6.52	$8.10	$2.45
Total Capital	496	451	451	448	440	369	331	294	317	384	155
Total Debt	306	244	234	199	181	174	142	108	102	115	50
Total Long-Term Debt	284	220	205	166	156	141	102	85	69	91	46
Net Debt	273	210	200	167	155	157	126	98	91	105	35
Capital Expenditures (CapEx)	26	31	42	28	35	35	21	28	53	75	49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	41	23	41	27	36	37	20	-8.12	-74	-47	-56
Debt-free Net Working Capital (DFNWC)	56	40	63	47	59	51	32	-2.29	-68	-40	-44
Net Working Capital (NWC)	34	16	34	13	33	18	-7.88	-25	-101	-65	-48
Net Nonoperating Expense (NNE)	8.65	11	22	30	666	14	8.39	-0.48	9.63	14	73
Net Nonoperating Obligations (NNO)	273	210	200	167	155	157	126	98	91	104	35
Total Depreciation and Amortization (D&A)	31	45	39	49	46	51	42	43	31	-27	-2.83
Debt-free, Cash-free Net Working Capital to Revenue	17.07%	6.81%	14.62%	9.89%	6.15%	11.47%	8.13%	-3.28%	-20.57%	-7.48%	-13.87%
Debt-free Net Working Capital to Revenue	23.35%	11.89%	22.32%	17.14%	9.97%	15.66%	13.07%	-0.92%	-18.80%	-6.35%	-10.87%
Net Working Capital to Revenue	14.28%	4.58%	12.09%	4.93%	5.65%	5.44%	-3.23%	-10.25%	-27.92%	-10.20%	-11.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.34	$0.68	$0.42	$1.08	$0.25	($1.95)	($0.20)	($0.12)	$0.57	$1.35	($5.72)
Adjusted Weighted Average Basic Shares Outstanding	28.78M	29.25M	29.41M	29.96M	30.24M	30.42M	30.61M	30.79M	32.04M	33.13M	39.50M
Adjusted Diluted Earnings per Share	$0.34	$0.68	$0.42	$1.08	$0.25	($1.95)	($0.20)	($0.12)	$0.55	$1.25	($5.72)
Adjusted Weighted Average Diluted Shares Outstanding	28.78M	29.25M	29.41M	29.96M	30.24M	30.42M	30.61M	30.79M	33.65M	36.83M	39.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.68	$0.42	$1.08	$0.25	($1.95)	($0.20)	($0.12)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.96M	29.03M	29.26M	29.66M	30.07M	30.25M	30.45M	30.61M	32.98M	34.89M	42.62M
Normalized Net Operating Profit after Tax (NOPAT)	27	31	28	18	219	8.18	3.43	-3.12	28	59	-0.22
Normalized NOPAT Margin	11.01%	9.26%	9.92%	6.78%	37.36%	2.53%	1.40%	-1.26%	7.66%	9.31%	-0.06%
Pre Tax Income Margin	4.44%	8.11%	3.01%	5.11%	0.60%	-25.41%	-3.63%	-1.51%	5.49%	7.76%	-58.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.18	2.77	1.57	2.12	10.98	-4.21	0.07	0.00	3.24	5.13	-13.22
NOPAT to Interest Expense	2.08	2.02	2.32	5.05	23.74	-2.86	0.20	0.00	3.35	4.94	-9.18
EBIT Less CapEx to Interest Expense	-0.67	0.77	-1.27	-0.15	9.74	-6.40	-1.87	0.00	-3.21	-1.16	-16.17
NOPAT Less CapEx to Interest Expense	-0.77	0.02	-0.53	2.78	22.51	-5.04	-1.73	0.00	-3.10	-1.35	-12.13
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	46.95%	23.81%	38.36%	14.79%	64.85%	-8.30%	-19.87%	0.00%	3.23%	0.00%	0.00%
Augmented Payout Ratio	46.95%	23.81%	38.36%	14.79%	64.85%	-8.30%	-19.87%	0.00%	3.23%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Hallador Energy's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.59%	132.13%	219.71%	144.50%	94.83%	-21.36%	-41.77%	-43.60%	-36.63%	-17.41%	5.57%
EBITDA Growth	80.18%	294.92%	2,133.31%	227.06%	79.42%	-300.91%	-82.37%	-115.68%	-75.65%	-290.97%	-6.31%
EBIT Growth	439.51%	1,071.37%	434.05%	1,462.16%	427.30%	-131.29%	-90.65%	-132.75%	-81.58%	-2,026.17%	477.11%
NOPAT Growth	341.22%	1,516.96%	517.78%	3,663.31%	408.49%	-121.45%	-92.46%	-125.06%	-79.53%	-2,026.17%	628.56%
Net Income Growth	-79.81%	487.56%	317.59%	599.56%	897.21%	-134.15%	-107.69%	-160.33%	-90.33%	-2,005.70%	688.38%
EPS Growth	0.00%	0.00%	284.85%	527.27%	780.00%	-128.72%	-108.20%	-157.45%	-90.91%	-1,914.81%	560.00%
Operating Cash Flow Growth	-43.44%	267.67%	777.12%	772.02%	158.38%	-149.99%	-37.31%	29.73%	-136.58%	293.65%	134.71%
Free Cash Flow Firm Growth	-103.89%	-58.87%	-139.59%	-231.78%	-1,318.85%	-719.79%	-336.58%	-9.12%	-95.60%	209.02%	590.63%
Invested Capital Growth	1.82%	7.63%	13.41%	14.74%	13.40%	21.48%	17.46%	5.90%	12.75%	-62.45%	-66.71%
Revenue Q/Q Growth	29.05%	78.73%	23.85%	-14.41%	2.84%	-27.86%	-7.98%	-17.10%	15.54%	-5.98%	19.26%
EBITDA Q/Q Growth	60.24%	75.93%	12.61%	3.02%	-12.09%	-297.01%	518.50%	-191.64%	236.47%	-3,263.34%	97.05%
EBIT Q/Q Growth	369.44%	645.75%	-10.91%	-23.91%	4.30%	-144.26%	126.62%	-366.59%	158.66%	-5,207.98%	106.16%
NOPAT Q/Q Growth	789.56%	750.66%	-24.26%	-19.79%	-1.60%	-135.89%	126.62%	-366.59%	180.39%	-3,827.41%	109.12%
Net Income Q/Q Growth	147.61%	1,761.85%	-26.53%	-23.29%	-4.97%	-163.75%	83.45%	-501.65%	115.23%	-13,986.23%	104.62%
EPS Q/Q Growth	145.45%	1,780.00%	-35.11%	-22.95%	-6.38%	-161.36%	81.48%	-440.00%	114.81%	-13,700.00%	104.23%
Operating Cash Flow Q/Q Growth	606.15%	194.63%	-35.10%	-30.56%	94.61%	-157.00%	181.39%	43.70%	-154.87%	401.79%	-1.36%
Free Cash Flow Firm Q/Q Growth	-108.11%	936.31%	-204.53%	-85.90%	12.69%	-265.32%	27.89%	53.53%	-56.50%	303.61%	231.35%
Invested Capital Q/Q Growth	1.77%	2.60%	4.05%	5.61%	0.59%	9.91%	0.19%	-4.78%	7.09%	-63.39%	-10.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.13%	36.83%	29.10%	28.40%	28.19%	11.85%	22.42%	16.07%	24.27%	29.39%	30.71%
EBITDA Margin	19.49%	19.18%	17.44%	21.00%	17.95%	-49.01%	5.28%	-5.84%	6.90%	-232.02%	-5.73%
Operating Margin	6.34%	22.71%	15.52%	13.80%	14.36%	-8.59%	2.49%	-8.01%	4.49%	-221.05%	11.83%
EBIT Margin	5.17%	21.58%	15.52%	13.80%	14.00%	-8.59%	2.49%	-8.01%	4.07%	-221.05%	11.41%
Profit (Net Income) Margin	1.89%	19.74%	11.71%	10.49%	9.70%	-8.57%	-1.55%	-11.22%	1.48%	-218.49%	8.47%
Tax Burden Percent	73.01%	97.04%	86.80%	91.50%	84.14%	74.61%	73.55%	77.22%	87.01%	97.29%	100.00%
Interest Burden Percent	50.18%	94.26%	86.90%	83.11%	82.35%	133.77%	-84.38%	181.38%	41.79%	101.60%	74.24%
Effective Tax Rate	26.99%	2.96%	13.20%	8.50%	15.86%	0.00%	0.00%	0.00%	12.99%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.31%	26.99%	22.08%	23.52%	25.31%	-11.25%	2.80%	-7.86%	4.60%	-244.46%	19.47%
ROIC Less NNEP Spread (ROIC-NNEP)	2.13%	23.31%	18.51%	19.94%	20.95%	-14.39%	-1.40%	-16.22%	0.68%	-335.03%	11.54%
Return on Net Nonoperating Assets (RNNOA)	1.21%	11.02%	8.35%	8.76%	8.35%	-5.80%	-0.46%	-3.47%	0.15%	-124.94%	2.89%
Return on Equity (ROE)	5.51%	38.01%	30.43%	32.28%	33.66%	-17.05%	2.34%	-11.33%	4.75%	-369.40%	22.36%
Cash Return on Invested Capital (CROIC)	-3.58%	2.03%	8.05%	12.86%	18.65%	-1.97%	-5.21%	-3.92%	-13.95%	31.13%	42.03%
Operating Return on Assets (OROA)	3.82%	15.87%	15.65%	16.60%	19.29%	-8.93%	2.30%	-6.51%	2.97%	-186.44%	9.85%
Return on Assets (ROA)	1.40%	14.51%	11.81%	12.62%	13.36%	-8.92%	-1.43%	-9.12%	1.08%	-184.29%	7.31%
Return on Common Equity (ROCE)	5.46%	37.63%	30.13%	31.98%	33.66%	-17.05%	2.34%	-11.33%	4.75%	-369.40%	22.36%
Return on Equity Simple (ROE_SIMPLE)	-10.68%	0.00%	21.20%	27.70%	31.31%	0.00%	7.41%	-1.92%	-6.46%	0.00%	-185.93%
Net Operating Profit after Tax (NOPAT)	3.94	34	25	20	20	-7.19	1.91	-5.10	4.10	-153	14
NOPAT Margin	4.63%	22.03%	13.47%	12.63%	12.08%	-6.01%	1.74%	-5.61%	3.90%	-154.73%	11.83%
Net Nonoperating Expense Percent (NNEP)	2.18%	3.68%	3.57%	3.58%	4.35%	3.14%	4.19%	8.36%	3.92%	90.57%	7.93%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-1.87%	-	-	-	-98.90%	9.73%
Cost of Revenue to Revenue	75.87%	63.17%	70.90%	71.60%	71.81%	88.15%	77.58%	83.93%	75.73%	70.61%	69.29%
SG&A Expenses to Revenue	4.19%	3.93%	3.69%	3.47%	3.65%	6.32%	5.42%	8.58%	6.16%	6.39%	5.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.78%	14.13%	13.58%	14.60%	13.83%	20.11%	19.93%	24.09%	19.78%	250.44%	18.87%
Earnings before Interest and Taxes (EBIT)	4.40	33	29	22	23	-10	2.73	-7.29	4.27	-218	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	17	29	33	34	30	-59	5.79	-5.31	7.24	-229	-6.75
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.01	1.53	1.28	1.11	1.76	1.09	0.66	0.91	1.26	4.68	4.54
Price to Tangible Book Value (P/TBV)	1.01	1.53	1.28	1.11	1.76	1.09	0.66	0.91	1.26	4.68	4.54
Price to Revenue (P/Rev)	0.67	0.91	0.62	0.48	0.72	0.46	0.33	0.59	0.95	1.21	1.27
Price to Earnings (P/E)	7.93	19.11	6.13	4.06	5.66	6.54	8.83	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	12.60%	5.23%	16.31%	24.64%	17.67%	15.29%	11.32%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.00	1.37	1.21	1.09	1.61	1.07	0.74	0.92	1.22	3.75	4.27
Enterprise Value to Revenue (EV/Rev)	1.09	1.16	0.78	0.62	0.82	0.63	0.50	0.68	1.10	1.29	1.30
Enterprise Value to EBITDA (EV/EBITDA)	7.96	7.31	4.16	3.18	4.26	11.44	4.03	11.14	68.75	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	15.69	5.63	4.00	4.96	6.49	7.18	36.52	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	15.17	6.22	4.37	5.48	6.73	7.35	52.17	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	12.06	7.77	4.98	3.73	4.55	6.70	5.57	5.96	67.85	7.94	6.05
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	70.00	15.93	9.02	9.17	0.00	0.00	0.00	0.00	6.57	5.08
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.47	0.39	0.36	0.28	0.43	0.35	0.17	0.24	0.48	0.24
Long-Term Debt to Equity	0.10	0.32	0.25	0.29	0.20	0.34	0.25	0.11	0.16	0.44	0.09
Financial Leverage	0.57	0.47	0.45	0.44	0.40	0.40	0.33	0.21	0.22	0.37	0.25
Leverage Ratio	1.97	2.45	2.36	2.23	2.13	2.52	2.31	2.09	1.97	2.57	2.38
Compound Leverage Factor	0.99	2.31	2.05	1.85	1.75	3.38	-1.95	3.80	0.82	2.61	1.77
Debt to Total Capital	41.25%	32.12%	27.80%	26.38%	22.01%	29.99%	25.95%	14.44%	19.30%	32.51%	19.47%
Short-Term Debt to Total Capital	35.18%	10.43%	9.82%	5.09%	6.08%	6.37%	7.68%	4.85%	6.10%	2.65%	11.84%
Long-Term Debt to Total Capital	6.07%	21.69%	17.98%	21.29%	15.93%	23.62%	18.27%	9.59%	13.20%	29.86%	7.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	58.75%	67.88%	72.20%	73.62%	77.99%	70.01%	74.05%	85.56%	80.70%	67.49%	80.53%
Debt to EBITDA	3.43	1.77	0.99	0.79	0.60	3.31	1.45	1.81	11.24	-0.23	-0.13
Net Debt to EBITDA	3.04	1.59	0.88	0.71	0.52	3.02	1.32	1.37	9.52	-0.16	-0.04
Long-Term Debt to EBITDA	0.50	1.19	0.64	0.64	0.43	2.60	1.02	1.20	7.69	-0.21	-0.05
Debt to NOPAT	-24.68	3.67	1.48	1.09	0.77	1.95	2.64	8.49	-10.78	-0.33	-0.19
Net Debt to NOPAT	-21.90	3.29	1.32	0.98	0.67	1.78	2.41	6.42	-9.12	-0.23	-0.06
Long-Term Debt to NOPAT	-3.63	2.48	0.96	0.88	0.56	1.53	1.86	5.64	-7.37	-0.30	-0.08
Altman Z-Score	1.23	1.24	1.55	1.78	2.38	1.77	1.52	1.51	1.85	-0.23	1.98
Noncontrolling Interest Sharing Ratio	1.06%	1.00%	0.97%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.36	0.58	0.62	0.63	0.54	0.59	0.57	0.53	0.58	0.69	0.60
Quick Ratio	0.15	0.14	0.17	0.13	0.14	0.14	0.10	0.13	0.09	0.15	0.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.41	12	-12	-23	-20	-73	-54	-25	-39	80	264
Operating Cash Flow to CapEx	88.44%	254.98%	192.18%	106.90%	194.55%	-75.60%	110.23%	219.42%	-121.04%	302.05%	329.16%
Free Cash Flow to Firm to Interest Expense	-0.60	4.98	-3.16	-6.46	-5.10	-119.66	-11.22	-4.40	-14.52	22.83	70.83
Operating Cash Flow to Interest Expense	5.79	17.02	6.70	5.12	9.00	-32.97	3.42	4.15	-4.79	11.17	10.32
Operating Cash Flow Less CapEx to Interest Expense	-0.76	10.34	3.21	0.33	4.38	-76.59	0.32	2.26	-8.76	7.47	7.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.74	1.01	1.20	1.38	1.04	0.92	0.81	0.73	0.84	0.86
Accounts Receivable Turnover	16.59	16.65	20.24	30.41	35.65	25.48	23.46	23.96	26.06	22.86	30.63
Inventory Turnover	9.03	5.57	6.85	7.59	10.37	6.76	5.64	5.02	5.27	4.51	4.17
Fixed Asset Turnover	0.89	0.92	1.26	1.50	1.68	1.31	1.16	1.01	0.89	1.08	1.12
Accounts Payable Turnover	4.91	4.28	5.23	6.89	7.19	6.49	6.46	6.61	5.80	5.80	6.58
Days Sales Outstanding (DSO)	22.00	21.92	18.04	12.00	10.24	14.32	15.56	15.23	14.01	15.96	11.92
Days Inventory Outstanding (DIO)	40.42	65.58	53.28	48.06	35.19	53.99	64.71	72.78	69.29	80.91	87.58
Days Payable Outstanding (DPO)	74.32	85.22	69.84	52.99	50.75	56.24	56.53	55.26	62.98	62.98	55.46
Cash Conversion Cycle (CCC)	-11.90	2.27	1.48	7.08	-5.32	12.07	23.74	32.75	20.32	33.90	44.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	299	306	319	337	339	372	374	357	382	140	125
Invested Capital Turnover	0.93	1.23	1.64	1.86	2.09	1.87	1.60	1.40	1.18	1.58	1.65
Increase / (Decrease) in Invested Capital	5.35	22	38	43	40	66	56	20	43	-232	-250
Enterprise Value (EV)	300	421	385	366	545	398	276	328	466	523	533
Market Capitalization	185	329	303	284	478	293	186	288	402	488	523
Book Value per Share	$5.58	$6.52	$7.19	$7.69	$8.20	$8.10	$8.14	$8.54	$7.48	$2.45	$2.71
Tangible Book Value per Share	$5.58	$6.52	$7.19	$7.69	$8.20	$8.10	$8.14	$8.54	$7.48	$2.45	$2.71
Total Capital	313	317	329	346	348	384	383	370	395	155	143
Total Debt	129	102	91	91	77	115	99	53	76	50	28
Total Long-Term Debt	19	69	59	74	55	91	70	35	52	46	11
Net Debt	115	91	82	82	67	105	91	40	65	35	9.31
Capital Expenditures (CapEx)	15	16	14	17	18	27	15	11	11	13	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4.74	-74	-54	-54	-65	-47	-48	-84	-57	-56	-69
Debt-free Net Working Capital (DFNWC)	5.74	-68	-47	-47	-58	-40	-42	-74	-48	-44	-53
Net Working Capital (NWC)	-104	-101	-80	-65	-79	-65	-71	-92	-72	-48	-70
Net Nonoperating Expense (NNE)	2.33	3.49	3.32	3.44	3.95	3.06	3.61	5.10	2.55	63	3.96
Net Nonoperating Obligations (NNO)	115	91	82	82	67	104	91	40	63	35	9.31
Total Depreciation and Amortization (D&A)	12	-3.64	3.62	12	6.55	-48	3.06	1.98	2.97	-11	-20
Debt-free, Cash-free Net Working Capital to Revenue	-1.72%	-20.57%	-10.92%	-9.17%	-9.71%	-7.48%	-8.65%	-17.39%	-13.50%	-13.87%	-16.86%
Debt-free Net Working Capital to Revenue	2.09%	-18.80%	-9.63%	-8.08%	-8.70%	-6.35%	-7.51%	-15.18%	-11.23%	-10.87%	-12.92%
Net Working Capital to Revenue	-37.91%	-27.92%	-16.20%	-11.09%	-11.88%	-10.20%	-12.80%	-18.87%	-16.90%	-11.88%	-17.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.05	$0.96	$0.67	$0.51	$0.49	($0.32)	($0.05)	($0.27)	$0.04	($5.44)	$0.23
Adjusted Weighted Average Basic Shares Outstanding	32.98M	32.04M	32.98M	33.14M	33.14M	33.13M	34.82M	37.88M	42.60M	39.50M	42.62M
Adjusted Diluted Earnings per Share	$0.00	$0.94	$0.61	$0.47	$0.44	($0.27)	($0.05)	($0.27)	$0.04	($5.44)	$0.23
Adjusted Weighted Average Diluted Shares Outstanding	33.27M	33.65M	36.74M	36.71M	36.85M	36.83M	34.82M	37.88M	43.02M	39.50M	43.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	32.98M	32.98M	33.14M	33.14M	33.14M	34.89M	37.03M	42.60M	42.62M	42.62M	42.98M
Normalized Net Operating Profit after Tax (NOPAT)	3.94	34	25	20	20	-7.19	1.91	-5.10	4.10	-153	9.74
Normalized NOPAT Margin	4.63%	22.03%	13.47%	12.63%	12.08%	-6.01%	1.74%	-5.61%	3.90%	-154.73%	8.27%
Pre Tax Income Margin	2.60%	20.34%	13.49%	11.47%	11.53%	-11.49%	-2.10%	-14.54%	1.70%	-224.58%	8.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.86	13.88	7.50	6.28	5.92	-16.83	0.57	-1.28	1.59	-62.63	3.61
NOPAT to Interest Expense	1.67	14.17	6.51	5.75	5.11	-11.78	0.40	-0.90	1.52	-43.84	3.74
EBIT Less CapEx to Interest Expense	-4.68	7.21	4.01	1.49	1.29	-60.45	-2.53	-3.17	-2.37	-66.33	0.48
NOPAT Less CapEx to Interest Expense	-4.87	7.50	3.02	0.96	0.48	-55.40	-2.70	-2.79	-2.44	-47.54	0.61
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-2.98%	3.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-2.98%	3.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

Hallador Energy’s Q1 2025 results show revenue growth, improving profitability, strong free cash flow, and low net debt. Key trends over the past year include:

Total revenue rose to $117.8 million, up 19.3% from Q4 and 5.6% year-over-year
Net operating profit after tax (NOPAT) grew 6.3%, with net income up 6.9% year-over-year
Free cash flow to firm reached $263.7 million, a 5.9% increase over Q1 2024
Return on invested capital (ROIC) at 19.5% and return on equity (ROE) at 22.4% indicate strong capital efficiency
Net debt is only $9.3 million, with debt-to-equity of 0.24, reflecting a conservative balance sheet
EBITDA was negative $6.8 million in Q1 (impacted by $35.2 million of amortization), requiring close monitoring
Working capital remains negative at $70 million (–17.0% of revenue), typical for mining but a liquidity factor to watch
Cash conversion cycle of 44 days is in line with industry norms, balancing receivables, inventory, and payables
EBITDA margin at –5.7% highlights ongoing non-cash amortization and charges reducing operating earnings
Financing activities used $22.7 million of cash in the quarter, driven by debt repayments

06/20/25 04:25 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Hallador Energy's Financials

When does Hallador Energy's financial year end?

According to the most recent income statement we have on file, Hallador Energy's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Hallador Energy's net income changed over the last 10 years?

Hallador Energy's net income appears to be on an upward trend, with a most recent value of -$226.14 million in 2024, falling from $10.22 million in 2014. The previous period was $44.79 million in 2023. See where experts think Hallador Energy is headed by visiting Hallador Energy's forecast page.

What is Hallador Energy's operating income?

Hallador Energy's total operating income in 2024 was -$218.16 million, based on the following breakdown:

Total Gross Profit: $93.72 million
Total Operating Expenses: $311.88 million

How has Hallador Energy's revenue changed over the last 10 years?

Over the last 10 years, Hallador Energy's total revenue changed from $241.17 million in 2014 to $404.39 million in 2024, a change of 67.7%.

How much debt does Hallador Energy have?

Hallador Energy's total liabilities were at $264.84 million at the end of 2024, a 17.5% decrease from 2023, and a 32.0% decrease since 2014.

How much cash does Hallador Energy have?

In the past 10 years, Hallador Energy's cash and equivalents has ranged from $2.55 million in 2021 to $15.93 million in 2015, and is currently $7.23 million as of their latest financial filing in 2024.

How has Hallador Energy's book value per share changed over the last 10 years?

Over the last 10 years, Hallador Energy's book value per share changed from 6.60 in 2014 to 2.45 in 2024, a change of -62.9%.

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This page (NASDAQ:HNRG) was last updated on 6/20/2025 by MarketBeat.com Staff

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Hallador Energy (HNRG) Financials

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Hallador Energy (HNRG) Financials

Annual Income Statements for Hallador Energy

Quarterly Income Statements for Hallador Energy

Annual Cash Flow Statements for Hallador Energy

Quarterly Cash Flow Statements for Hallador Energy

Annual Balance Sheets for Hallador Energy

Quarterly Balance Sheets for Hallador Energy

Annual Metrics And Ratios for Hallador Energy

Quarterly Metrics And Ratios for Hallador Energy

Key Financial Trends

Frequently Asked Questions About Hallador Energy's Financials

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Best-in-Class Portfolio Monitoring

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