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HALLADOR ENERGY CO（HNRG）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是HALLADOR ENERGY CO的1.6倍（$162.6M vs $101.9M），Ribbon Communications Inc.净利率更高（54.8% vs -0.2%，领先55.0%），HALLADOR ENERGY CO同比增速更快（8.9% vs -10.3%），过去两年HALLADOR ENERGY CO的营收复合增速更高（-4.4% vs -8.1%）
Hallador能源公司是总部位于美国的能源企业，主要从事低硫煤炭生产及发电业务，覆盖北美市场，为公用事业、工业客户供应煤炭，同时向区域居民及商业用户提供电力服务。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
HNRG vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.6倍
$101.9M
营收增速更快
HNRG
高出19.2%
-10.3%
净利率更高
RBBN
高出55.0%
-0.2%
两年增速更快
HNRG
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $101.9M | $162.6M |
| 净利润 | $-240.0K | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | 6.1% | — |
| 净利率 | -0.2% | 54.8% |
| 营收同比 | 8.9% | -10.3% |
| 净利润同比 | 99.9% | — |
| 每股收益（稀释后） | $-0.01 | $0.50 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收HNRGRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $101.9M | $227.3M | ||
| Q3 25 | $146.8M | $215.4M | ||
| Q2 25 | $102.9M | $220.6M | ||
| Q1 25 | $117.8M | $181.3M | ||
| Q4 24 | $93.6M | $251.4M | ||
| Q3 24 | $105.2M | $210.2M | ||
| Q2 24 | $93.8M | $192.6M |
净利润HNRGRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-240.0K | — | ||
| Q3 25 | $23.9M | $-12.1M | ||
| Q2 25 | $8.2M | $-11.1M | ||
| Q1 25 | $10.0M | $-26.2M | ||
| Q4 24 | $-215.8M | — | ||
| Q3 24 | $1.6M | $-13.4M | ||
| Q2 24 | $-10.2M | $-16.8M |
毛利率HNRGRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 4.1% | ||
| Q3 25 | 19.8% | 1.3% | ||
| Q2 25 | 11.5% | 1.9% | ||
| Q1 25 | 11.8% | -10.8% | ||
| Q4 24 | -233.5% | 13.2% | ||
| Q3 24 | 4.5% | -0.4% | ||
| Q2 24 | -7.8% | -1.0% |
净利率HNRGRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -0.2% | — | ||
| Q3 25 | 16.3% | -5.6% | ||
| Q2 25 | 8.0% | -5.0% | ||
| Q1 25 | 8.5% | -14.5% | ||
| Q4 24 | -230.5% | — | ||
| Q3 24 | 1.5% | -6.4% | ||
| Q2 24 | -10.9% | -8.7% |
每股收益（稀释后）HNRGRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.01 | $0.50 | ||
| Q3 25 | $0.55 | $-0.07 | ||
| Q2 25 | $0.19 | $-0.06 | ||
| Q1 25 | $0.23 | $-0.15 | ||
| Q4 24 | $-5.44 | $0.05 | ||
| Q3 24 | $0.04 | $-0.08 | ||
| Q2 24 | $-0.27 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $10.1M | $67.6M |
| 总债务越低越好 | $29.7M | — |
| 股东权益账面价值 | $159.8M | $419.1M |
| 总资产 | $408.1M | — |
| 负债/权益比越低杠杆越低 | 0.19× | — |
8季度趋势，按日历期对齐
现金及短期投资HNRGRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $10.1M | $96.4M | ||
| Q3 25 | $12.7M | $74.8M | ||
| Q2 25 | $9.2M | $60.5M | ||
| Q1 25 | $6.9M | $71.2M | ||
| Q4 24 | $7.2M | $87.8M | ||
| Q3 24 | $3.8M | $37.2M | ||
| Q2 24 | $6.4M | $64.6M |
总债务HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | $29.7M | $342.1M | ||
| Q3 25 | $42.7M | $344.3M | ||
| Q2 25 | $43.1M | $346.5M | ||
| Q1 25 | $21.0M | $347.4M | ||
| Q4 24 | $41.5M | $348.3M | ||
| Q3 24 | $67.0M | $349.1M | ||
| Q2 24 | $42.7M | $350.0M |
股东权益HNRGRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $159.8M | $449.0M | ||
| Q3 25 | $146.2M | $360.1M | ||
| Q2 25 | $122.2M | $370.4M | ||
| Q1 25 | $115.3M | $381.8M | ||
| Q4 24 | $104.3M | $404.6M | ||
| Q3 24 | $318.8M | $395.5M | ||
| Q2 24 | $316.2M | $405.0M |
总资产HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | $408.1M | $1.2B | ||
| Q3 25 | $409.5M | $1.1B | ||
| Q2 25 | $409.5M | $1.1B | ||
| Q1 25 | $366.1M | $1.1B | ||
| Q4 24 | $369.1M | $1.2B | ||
| Q3 24 | $579.7M | $1.1B | ||
| Q2 24 | $595.2M | $1.1B |
负债/权益比HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.19× | 0.76× | ||
| Q3 25 | 0.29× | 0.96× | ||
| Q2 25 | 0.35× | 0.94× | ||
| Q1 25 | 0.18× | 0.91× | ||
| Q4 24 | 0.40× | 0.86× | ||
| Q3 24 | 0.21× | 0.88× | ||
| Q2 24 | 0.13× | 0.86× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $8.2M | — |
| 自由现金流经营现金流 - 资本支出 | $-16.8M | — |
| 自由现金流率自由现金流/营收 | -16.5% | — |
| 资本支出强度资本支出/营收 | 24.5% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $11.9M | — |
8季度趋势，按日历期对齐
经营现金流HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $29.2M | ||
| Q3 25 | $23.2M | $26.5M | ||
| Q2 25 | $11.4M | $-795.0K | ||
| Q1 25 | $38.4M | $-3.5M | ||
| Q4 24 | $38.9M | $61.8M | ||
| Q3 24 | $-12.9M | $-14.8M | ||
| Q2 24 | $23.5M | $-9.8M |
自由现金流HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-16.8M | $27.3M | ||
| Q3 25 | $3.7M | $21.0M | ||
| Q2 25 | $-1.7M | $-6.5M | ||
| Q1 25 | $26.7M | $-15.7M | ||
| Q4 24 | $25.2M | $53.8M | ||
| Q3 24 | $-24.5M | $-23.7M | ||
| Q2 24 | $10.4M | $-12.9M |
自由现金流率HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | -16.5% | 12.0% | ||
| Q3 25 | 2.5% | 9.7% | ||
| Q2 25 | -1.6% | -2.9% | ||
| Q1 25 | 22.7% | -8.7% | ||
| Q4 24 | 26.9% | 21.4% | ||
| Q3 24 | -23.3% | -11.3% | ||
| Q2 24 | 11.0% | -6.7% |
资本支出强度HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | 24.5% | 0.9% | ||
| Q3 25 | 13.3% | 2.6% | ||
| Q2 25 | 12.7% | 2.6% | ||
| Q1 25 | 9.9% | 6.7% | ||
| Q4 24 | 14.7% | 3.2% | ||
| Q3 24 | 11.0% | 4.2% | ||
| Q2 24 | 14.0% | 1.6% |
现金转化率HNRGRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.97× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 3.85× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -8.31× | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
HNRG
| Delivered Energy | $58.6M | 57% |
| Coal Sales | $29.1M | 29% |
| Coal Operations | $14.4M | 14% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
