# HALLADOR ENERGY CO (HNRG) · Edgar & Edgarette company card

> Hallador Energy (HNRG) grew revenue 16.2% in FY2025 to $469 million, operating margin 13.0% against a 20.3% median for electric services, equity 39.2% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 788965 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/HNRG) · [JSON](https://www.pops4.com/boards/company/HNRG.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $469M |
| Revenue growth, 1 year | 16.2% |
| Revenue growth per year | 17.3% |
| Operating margin | 13.0% (prior year -54.0%) |
| Net margin | 8.9% |
| Operating cash flow | $81M |
| Capital spending | $69M |
| Free cash flow | $12M |
| Cash | $10M |
| Long-term debt | $30M |
| Total assets | $408M |
| Total equity | $160M |
| Equity ÷ assets | 39.2% |
| Return on equity | 26.2% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 7 of 9 (solid)
- Health Harbor boat: Sound ship · one warning sign · revenue is hard to predict: its 80% range is ±48%
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $469.5M (FY2025), total debt $29.7M. Experience: revenue up 16.2% on the year, up 17.3% a year over 4 years; operating margin 13.0%, up from -54.0%. Soundness: equity 39.2% of assets, return on equity 26.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $308.9M and $882.1M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $236.9M to $1.2B. A statistical range, not company guidance. Against peers (40 filers, $50M+ revenue, electric services): operating margin 13.0% against a 20.3% median; growth 16.2% against 9.4%.

Range logged 2026-09-24, receipt 82be504125f9788a, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 6, latest 2026-06-11 ([filing](https://www.sec.gov/Archives/edgar/data/788965/000078896526000004/0000788965-26-000004-index.htm))

## Recent filings

- 8-K · filed 2026-10-08 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/788965/000162828026065410/0001628280-26-065410-index.htm)
- 8-K · filed 2026-09-17 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/788965/000110465926108429/0001104659-26-108429-index.htm)
- 8-K · filed 2026-08-14 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/788965/000110465926097263/0001104659-26-097263-index.htm)
- 10-Q · filed 2026-08-10 · [filing](https://www.sec.gov/Archives/edgar/data/788965/000110465926093468/0001104659-26-093468-index.htm)
- 8-K · filed 2026-08-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/788965/000110465926093446/0001104659-26-093446-index.htm)
- 8-K · filed 2026-06-26 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/788965/000078896526000006/0000788965-26-000006-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000788965.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=788965

## Cite

POPS4, Edgar & Edgarette: HALLADOR ENERGY CO (HNRG) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/HNRG. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.