Latest Ratios: P/E Ratio 16.2x · EV/EBITDA 7.4x · ROE 31.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $732M | $827M | $452M | $326M | $336M | $75M | $45M | $90M | $152M | $181M | $266M |
| Enterprise Value | $761M | $856M | $498M | $417M | $432M | $181M | $175M | $255M | $318M | $367M | $490M |
| P/E Ratio → | 16.18 | 19.83 | — | 7.07 | 18.16 | — | — | — | 20.28 | 5.64 | 21.64 |
| P/S Ratio | 1.56 | 1.76 | 1.12 | 0.51 | 0.93 | 0.30 | 0.18 | 0.28 | 0.52 | 0.67 | 0.95 |
| P/B Ratio | 4.22 | 5.17 | 4.34 | 1.21 | 1.56 | 0.40 | 0.24 | 0.46 | 0.59 | 0.72 | 1.23 |
| P/FCF | 61.41 | 69.38 | 35.99 | — | 2256.06 | 3.78 | 1.40 | 33.16 | 9.25 | 5.48 | 14.20 |
| P/OCF | 9.02 | 10.19 | 6.86 | 5.48 | 6.21 | 1.57 | 0.85 | 2.35 | 2.96 | 2.93 | 4.37 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.82 | 1.23 | 0.66 | 1.19 | 0.73 | 0.72 | 0.80 | 1.09 | 1.37 | 1.76 |
| EV / EBITDA | 7.44 | 8.37 | — | 3.16 | 5.59 | 5.32 | 4.09 | 4.59 | 5.02 | 5.59 | 6.32 |
| EV / EBIT | 12.46 | 13.78 | — | 6.98 | 15.35 | 37.75 | 97.82 | — | 16.03 | 13.59 | 20.45 |
| EV / FCF | — | 71.81 | 39.64 | — | 2898.87 | 9.06 | 5.48 | 93.98 | 19.30 | 11.14 | 26.16 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6% | 18.6% | 55.8% | 52.2% | 26.3% | 19.7% | 23.9% | 6.6% | 11.1% | 14.7% | 18.1% |
| Operating Margin | 13.0% | 13.0% | -53.9% | 10.2% | 8.4% | -2.4% | 1.3% | 1.8% | 6.2% | 9.8% | 14.7% |
| Net Profit Margin | 8.9% | 8.9% | -55.9% | 7.1% | 5.0% | -1.5% | -2.5% | -18.9% | 2.6% | 12.3% | 4.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 31.7% | 31.7% | -121.3% | 18.5% | 9.0% | -2.0% | -3.2% | -26.3% | 3.0% | 14.2% | 5.9% |
| ROA | 10.4% | 10.4% | -47.2% | 7.2% | 3.6% | -1.0% | -1.5% | -12.7% | 1.5% | 6.3% | 2.3% |
| ROIC | 27.0% | 27.0% | -64.1% | 14.5% | 7.6% | -1.5% | 0.7% | 1.1% | 3.1% | 4.5% | 7.0% |
| ROCE | 24.4% | 24.4% | -67.3% | 15.4% | 8.6% | -2.0% | 0.9% | 1.4% | 3.9% | 5.6% | 8.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.51 | 0.35 | 0.48 | 0.58 | 0.75 | 0.89 | 0.70 | 0.80 | 1.08 |
| Debt / EBITDA | 0.38 | 0.38 | — | 0.72 | 1.32 | 3.18 | 3.33 | 3.13 | 2.86 | 3.03 | 3.02 |
| Net Debt / Equity | — | 0.18 | 0.44 | 0.34 | 0.45 | 0.56 | 0.69 | 0.84 | 0.64 | 0.75 | 1.03 |
| Net Debt / EBITDA | 0.28 | 0.28 | — | 0.69 | 1.24 | 3.10 | 3.04 | 2.97 | 2.61 | 2.84 | 2.89 |
| Debt / FCF | — | 2.43 | 3.65 | — | 642.81 | 5.28 | 4.08 | 60.83 | 10.05 | 5.66 | 11.96 |
| Interest Coverage | 3.68 | 3.68 | -16.13 | 4.36 | 2.37 | 0.43 | 0.13 | -4.00 | 1.22 | 2.18 | 1.61 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.81 | 0.81 | 0.69 | 0.59 | 0.58 | 0.61 | 0.89 | 1.27 | 1.64 | 1.25 | 1.70 |
| Quick Ratio | 0.53 | 0.53 | 0.19 | 0.20 | 0.25 | 0.33 | 0.42 | 0.65 | 1.06 | 0.83 | 1.28 |
| Cash Ratio | 0.07 | 0.07 | 0.05 | 0.02 | 0.03 | 0.04 | 0.17 | 0.14 | 0.34 | 0.29 | 0.39 |
| Asset Turnover | — | 1.07 | 1.10 | 1.08 | 0.55 | 0.70 | 0.64 | 0.75 | 0.57 | 0.52 | 0.53 |
| Inventory Turnover | 8.99 | 8.99 | 2.36 | 4.89 | 3.41 | 11.23 | 5.54 | 7.40 | 8.61 | 10.01 | 11.31 |
| Days Sales Outstanding | — | 10.88 | 13.93 | 11.46 | 49.87 | 20.02 | 21.54 | 29.41 | 23.05 | 22.81 | 29.19 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 2.8% | 5.5% | 3.2% | 2.7% | 1.8% |
| Payout Ratio | — | — | — | — | — | — | — | — | 64.8% | 14.8% | 38.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 5.0% | — | 14.1% | 5.5% | — | — | — | 4.9% | 17.7% | 4.6% |
| FCF Yield | 1.6% | 1.4% | 2.8% | — | 0.0% | 26.5% | 71.2% | 3.0% | 10.8% | 18.2% | 7.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.6% | 0.0% | 0.4% | 0.2% | 0.4% | 0.2% | 1.8% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.6% | 0.0% | 0.4% | 2.9% | 5.9% | 3.4% | 4.5% | 1.8% |
| Shares Outstanding | — | $43M | $40M | $37M | $34M | $31M | $30M | $30M | $30M | $30M | $29M |
Regulatory and operational volatility
As reported in recent financial filings, HNRG's forward P/E of 97.01 suggests that the market is pricing in significant earnings volatility, while the current P/S ratio of 1.76 indicates a valuation premium that may be disconnected from the company's historical commodity-driven trading multiples in the coal sector.
The elevated forward P/E multiple appears to reflect investor skepticism regarding the sustainability of the integrated power generation model. Investors should monitor whether the company can transition from a cyclical commodity producer to a stable utility-like provider, as current pricing suggests a high degree of uncertainty regarding future earnings growth.
Based on HNRG's reported figures, ROIC has fluctuated wildly, reaching a peak of 14.8% in 2025Q3 before collapsing to -2.4% in 2026Q1, which highlights the difficulty in compounding returns during the company's ongoing transition into a capital-intensive integrated energy producer with significant fixed-cost obligations.
The extreme volatility in ROIC suggests that the company's capital allocation strategy is currently struggling to generate consistent value. This instability warrants further investigation into whether the Merom power plant acquisition is providing the expected returns or if it is merely adding to the company's operational and capital burden.
According to recent financial statements, HNRG's cash conversion cycle has remained elevated, peaking at 153 days in 2024Q4, which suggests that the company faces structural challenges in managing its inventory and receivables compared to more efficient peers in the regional energy and mining sectors.
The persistent length of the cash conversion cycle appears to be driven by high inventory days, which may indicate difficulties in matching coal production with power generation demand. This inefficiency likely ties up significant liquidity, limiting the company's ability to optimize its working capital position during periods of market stress.
As reported in recent filings, HNRG maintains a lean debt profile with a D/E ratio of 0.03 as of 2026Q1, which provides a defensive buffer against macro volatility, though this low leverage is offset by the company's ongoing struggle to maintain consistent interest coverage ratios.
While the low debt levels are a positive indicator of financial discipline, the erratic interest coverage suggests that the company's ability to service its obligations remains sensitive to operational performance. Investors should monitor whether this conservative balance sheet can be maintained if the power generation segment requires further capital investment.
Based on an analysis of HNRG's business model, the P/E ratio is the most commonly misapplied metric, as it fails to account for the non-recurring asset impairment charges and bargain purchase gains that frequently distort the company's reported earnings during its transition into an integrated energy provider.
Using P/E to value HNRG obscures the underlying cash-generating capacity of the power generation assets, which are better evaluated through EV/EBITDA or free cash flow metrics. Analysts should adjust for these accounting distortions to avoid drawing incorrect conclusions about the company's true earning power and long-term viability.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HNRG stock.
Hallador Energy Company's current P/E ratio is 16.2x. The historical average is 22.9x. This places it at the 67th percentile of its historical range.
Hallador Energy Company's current EV/EBITDA is 7.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Hallador Energy Company's return on equity (ROE) is 31.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 3.5%.
Based on historical data, Hallador Energy Company is trading at a P/E of 16.2x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hallador Energy Company has 18.6% gross margin and 13.0% operating margin. Operating margin between 10-20% is typical for established companies.
Hallador Energy Company's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.