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Side-by-side financial comparison of HALLADOR ENERGY CO (HNRG) and REPLIGEN CORP (RGEN). Click either name above to swap in a different company.

REPLIGEN CORP is the larger business by last-quarter revenue ($197.9M vs $101.9M, roughly 1.9× HALLADOR ENERGY CO). REPLIGEN CORP runs the higher net margin — 6.7% vs -0.2%, a 6.9% gap on every dollar of revenue. On growth, REPLIGEN CORP posted the faster year-over-year revenue change (13.6% vs 8.9%). REPLIGEN CORP produced more free cash flow last quarter ($17.6M vs $-16.8M). Over the past eight quarters, REPLIGEN CORP's revenue compounded faster (14.4% CAGR vs -4.4%).

Hallador Energy Co is a U.S.-based energy firm focused on low-sulfur coal production and electric generation operations. It serves the North American market, supplying coal to utility and industrial clients, and delivering power to regional residential and commercial segments.

Repligen Corporation is a global life sciences company devoted to the development and commercialization of innovative bioprocessing technologies and systems that enable efficiencies in the process of manufacturing biological drugs.2025 The company is based in Waltham, Massachusetts,2014 and was incorporated in Delaware in 1981. A public company, Repligen is listed on the NASDAQ exchange under the symbol RGEN. As of 2025, Repligen employs over 1,900 employees globally and serves primarily biop...

HNRG vs RGEN — Head-to-Head

Bigger by revenue
RGEN
RGEN
1.9× larger
RGEN
$197.9M
$101.9M
HNRG
Growing faster (revenue YoY)
RGEN
RGEN
+4.7% gap
RGEN
13.6%
8.9%
HNRG
Higher net margin
RGEN
RGEN
6.9% more per $
RGEN
6.7%
-0.2%
HNRG
More free cash flow
RGEN
RGEN
$34.3M more FCF
RGEN
$17.6M
$-16.8M
HNRG
Faster 2-yr revenue CAGR
RGEN
RGEN
Annualised
RGEN
14.4%
-4.4%
HNRG

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
HNRG
HNRG
RGEN
RGEN
Revenue
$101.9M
$197.9M
Net Profit
$-240.0K
$13.3M
Gross Margin
52.5%
Operating Margin
6.1%
9.0%
Net Margin
-0.2%
6.7%
Revenue YoY
8.9%
13.6%
Net Profit YoY
99.9%
143.9%
EPS (diluted)
$-0.01
$0.24

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
HNRG
HNRG
RGEN
RGEN
Q4 25
$101.9M
$197.9M
Q3 25
$146.8M
$188.8M
Q2 25
$102.9M
$182.4M
Q1 25
$117.8M
$169.2M
Q4 24
$93.6M
$174.1M
Q3 24
$105.2M
$154.9M
Q2 24
$93.8M
$154.1M
Q1 24
$111.6M
$151.3M
Net Profit
HNRG
HNRG
RGEN
RGEN
Q4 25
$-240.0K
$13.3M
Q3 25
$23.9M
$14.9M
Q2 25
$8.2M
$14.9M
Q1 25
$10.0M
$5.8M
Q4 24
$-215.8M
$-30.3M
Q3 24
$1.6M
$-654.0K
Q2 24
$-10.2M
$3.3M
Q1 24
$-1.7M
$2.1M
Gross Margin
HNRG
HNRG
RGEN
RGEN
Q4 25
52.5%
Q3 25
53.2%
Q2 25
50.0%
Q1 25
53.6%
Q4 24
26.1%
Q3 24
50.0%
Q2 24
49.8%
Q1 24
23.7%
49.5%
Operating Margin
HNRG
HNRG
RGEN
RGEN
Q4 25
6.1%
9.0%
Q3 25
19.8%
8.9%
Q2 25
11.5%
7.6%
Q1 25
11.8%
3.9%
Q4 24
-233.5%
-17.7%
Q3 24
4.5%
-5.1%
Q2 24
-7.8%
1.0%
Q1 24
2.4%
1.3%
Net Margin
HNRG
HNRG
RGEN
RGEN
Q4 25
-0.2%
6.7%
Q3 25
16.3%
7.9%
Q2 25
8.0%
8.2%
Q1 25
8.5%
3.4%
Q4 24
-230.5%
-17.4%
Q3 24
1.5%
-0.4%
Q2 24
-10.9%
2.2%
Q1 24
-1.5%
1.4%
EPS (diluted)
HNRG
HNRG
RGEN
RGEN
Q4 25
$-0.01
$0.24
Q3 25
$0.55
$0.26
Q2 25
$0.19
$0.26
Q1 25
$0.23
$0.10
Q4 24
$-5.44
$-0.55
Q3 24
$0.04
$-0.01
Q2 24
$-0.27
$0.06
Q1 24
$-0.05
$0.04

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
HNRG
HNRG
RGEN
RGEN
Cash + ST InvestmentsLiquidity on hand
$10.1M
$767.6M
Total DebtLower is stronger
$29.7M
$542.2M
Stockholders' EquityBook value
$159.8M
$2.1B
Total Assets
$408.1M
$2.9B
Debt / EquityLower = less leverage
0.19×
0.26×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
HNRG
HNRG
RGEN
RGEN
Q4 25
$10.1M
$767.6M
Q3 25
$12.7M
$748.7M
Q2 25
$9.2M
$708.9M
Q1 25
$6.9M
$697.2M
Q4 24
$7.2M
$757.4M
Q3 24
$3.8M
$784.0M
Q2 24
$6.4M
$809.1M
Q1 24
$1.6M
$780.6M
Total Debt
HNRG
HNRG
RGEN
RGEN
Q4 25
$29.7M
$542.2M
Q3 25
$42.7M
$537.9M
Q2 25
$43.1M
Q1 25
$21.0M
Q4 24
$41.5M
$525.6M
Q3 24
$67.0M
Q2 24
$42.7M
Q1 24
$73.8M
Stockholders' Equity
HNRG
HNRG
RGEN
RGEN
Q4 25
$159.8M
$2.1B
Q3 25
$146.2M
$2.1B
Q2 25
$122.2M
$2.1B
Q1 25
$115.3M
$2.0B
Q4 24
$104.3M
$2.0B
Q3 24
$318.8M
$2.0B
Q2 24
$316.2M
$2.0B
Q1 24
$283.9M
$2.0B
Total Assets
HNRG
HNRG
RGEN
RGEN
Q4 25
$408.1M
$2.9B
Q3 25
$409.5M
$2.9B
Q2 25
$409.5M
$2.9B
Q1 25
$366.1M
$2.9B
Q4 24
$369.1M
$2.8B
Q3 24
$579.7M
$2.8B
Q2 24
$595.2M
$2.9B
Q1 24
$585.4M
$2.8B
Debt / Equity
HNRG
HNRG
RGEN
RGEN
Q4 25
0.19×
0.26×
Q3 25
0.29×
0.26×
Q2 25
0.35×
Q1 25
0.18×
Q4 24
0.40×
0.27×
Q3 24
0.21×
Q2 24
0.13×
Q1 24
0.26×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
HNRG
HNRG
RGEN
RGEN
Operating Cash FlowLast quarter
$8.2M
$25.7M
Free Cash FlowOCF − Capex
$-16.8M
$17.6M
FCF MarginFCF / Revenue
-16.5%
8.9%
Capex IntensityCapex / Revenue
24.5%
4.1%
Cash ConversionOCF / Net Profit
1.93×
TTM Free Cash FlowTrailing 4 quarters
$11.9M
$93.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
HNRG
HNRG
RGEN
RGEN
Q4 25
$8.2M
$25.7M
Q3 25
$23.2M
$48.1M
Q2 25
$11.4M
$28.6M
Q1 25
$38.4M
$15.0M
Q4 24
$38.9M
$39.2M
Q3 24
$-12.9M
$49.3M
Q2 24
$23.5M
$42.2M
Q1 24
$16.4M
$44.7M
Free Cash Flow
HNRG
HNRG
RGEN
RGEN
Q4 25
$-16.8M
$17.6M
Q3 25
$3.7M
$43.4M
Q2 25
$-1.7M
$21.5M
Q1 25
$26.7M
$11.4M
Q4 24
$25.2M
$33.6M
Q3 24
$-24.5M
$42.3M
Q2 24
$10.4M
$37.4M
Q1 24
$1.5M
$36.4M
FCF Margin
HNRG
HNRG
RGEN
RGEN
Q4 25
-16.5%
8.9%
Q3 25
2.5%
23.0%
Q2 25
-1.6%
11.8%
Q1 25
22.7%
6.8%
Q4 24
26.9%
19.3%
Q3 24
-23.3%
27.3%
Q2 24
11.0%
24.3%
Q1 24
1.3%
24.0%
Capex Intensity
HNRG
HNRG
RGEN
RGEN
Q4 25
24.5%
4.1%
Q3 25
13.3%
2.5%
Q2 25
12.7%
3.9%
Q1 25
9.9%
2.1%
Q4 24
14.7%
3.2%
Q3 24
11.0%
4.5%
Q2 24
14.0%
3.1%
Q1 24
13.3%
5.5%
Cash Conversion
HNRG
HNRG
RGEN
RGEN
Q4 25
1.93×
Q3 25
0.97×
3.23×
Q2 25
1.38×
1.92×
Q1 25
3.85×
2.57×
Q4 24
Q3 24
-8.31×
Q2 24
12.70×
Q1 24
21.35×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

HNRG
HNRG

Delivered Energy$58.6M57%
Coal Sales$29.1M29%
Coal Operations$14.4M14%

RGEN
RGEN

Segment breakdown not available.

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