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HALLADOR ENERGY CO（HNRG）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
HALLADOR ENERGY CO的季度营收约是RE/MAX Holdings, Inc.的1.4倍（$101.9M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -0.2%，领先2.3%），HALLADOR ENERGY CO同比增速更快（8.9% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-16.8M），过去两年HALLADOR ENERGY CO的营收复合增速更高（-4.4% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
HNRG vs RMAX — 直观对比
营收规模更大
HNRG
是对方的1.4倍
$71.1M
营收增速更快
HNRG
高出10.7%
-1.8%
净利率更高
RMAX
高出2.3%
-0.2%
自由现金流更多
RMAX
多$50.3M
$-16.8M
两年增速更快
HNRG
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $101.9M | $71.1M |
| 净利润 | $-240.0K | $1.4M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | 13.1% |
| 净利率 | -0.2% | 2.0% |
| 营收同比 | 8.9% | -1.8% |
| 净利润同比 | 99.9% | -75.2% |
| 每股收益（稀释后） | $-0.01 | — |
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HNRGRMAX
| Q4 25 | $101.9M | $71.1M | ||
| Q3 25 | $146.8M | $73.2M | ||
| Q2 25 | $102.9M | $72.8M | ||
| Q1 25 | $117.8M | $74.5M | ||
| Q4 24 | $93.6M | $72.5M | ||
| Q3 24 | $105.2M | $78.5M | ||
| Q2 24 | $93.8M | $78.5M | ||
| Q1 24 | $111.6M | $78.3M |
净利润HNRGRMAX
| Q4 25 | $-240.0K | $1.4M | ||
| Q3 25 | $23.9M | $4.0M | ||
| Q2 25 | $8.2M | $4.7M | ||
| Q1 25 | $10.0M | $-2.0M | ||
| Q4 24 | $-215.8M | $5.8M | ||
| Q3 24 | $1.6M | $966.0K | ||
| Q2 24 | $-10.2M | $3.7M | ||
| Q1 24 | $-1.7M | $-3.4M |
毛利率HNRGRMAX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 23.7% | — |
营业利润率HNRGRMAX
| Q4 25 | 6.1% | 13.1% | ||
| Q3 25 | 19.8% | 25.0% | ||
| Q2 25 | 11.5% | 19.3% | ||
| Q1 25 | 11.8% | 7.2% | ||
| Q4 24 | -233.5% | 5.9% | ||
| Q3 24 | 4.5% | 19.4% | ||
| Q2 24 | -7.8% | 20.6% | ||
| Q1 24 | 2.4% | 5.8% |
净利率HNRGRMAX
| Q4 25 | -0.2% | 2.0% | ||
| Q3 25 | 16.3% | 5.4% | ||
| Q2 25 | 8.0% | 6.4% | ||
| Q1 25 | 8.5% | -2.6% | ||
| Q4 24 | -230.5% | 8.0% | ||
| Q3 24 | 1.5% | 1.2% | ||
| Q2 24 | -10.9% | 4.7% | ||
| Q1 24 | -1.5% | -4.3% |
每股收益（稀释后）HNRGRMAX
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $0.55 | — | ||
| Q2 25 | $0.19 | — | ||
| Q1 25 | $0.23 | — | ||
| Q4 24 | $-5.44 | — | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $-0.27 | — | ||
| Q1 24 | $-0.05 | — |
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 | $118.7M |
| 总债务越低越好 | $29.7M | $432.2M |
| 股东权益账面价值 | $159.8M | $452.4M |
| 总资产 | $408.1M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.19× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资HNRGRMAX
| Q4 25 | $10.1M | $118.7M | ||
| Q3 25 | $12.7M | $107.5M | ||
| Q2 25 | $9.2M | $94.3M | ||
| Q1 25 | $6.9M | $89.1M | ||
| Q4 24 | $7.2M | $96.6M | ||
| Q3 24 | $3.8M | $83.8M | ||
| Q2 24 | $6.4M | $66.1M | ||
| Q1 24 | $1.6M | $82.1M |
总债务HNRGRMAX
| Q4 25 | $29.7M | $432.2M | ||
| Q3 25 | $42.7M | $433.3M | ||
| Q2 25 | $43.1M | $434.4M | ||
| Q1 25 | $21.0M | $435.3M | ||
| Q4 24 | $41.5M | $436.2M | ||
| Q3 24 | $67.0M | $437.2M | ||
| Q2 24 | $42.7M | $438.1M | ||
| Q1 24 | $73.8M | $439.0M |
股东权益HNRGRMAX
| Q4 25 | $159.8M | $452.4M | ||
| Q3 25 | $146.2M | $448.1M | ||
| Q2 25 | $122.2M | $442.4M | ||
| Q1 25 | $115.3M | $433.5M | ||
| Q4 24 | $104.3M | $429.5M | ||
| Q3 24 | $318.8M | $423.1M | ||
| Q2 24 | $316.2M | $418.4M | ||
| Q1 24 | $283.9M | $412.0M |
总资产HNRGRMAX
| Q4 25 | $408.1M | $582.5M | ||
| Q3 25 | $409.5M | $582.2M | ||
| Q2 25 | $409.5M | $574.8M | ||
| Q1 25 | $366.1M | $571.4M | ||
| Q4 24 | $369.1M | $581.6M | ||
| Q3 24 | $579.7M | $578.6M | ||
| Q2 24 | $595.2M | $571.4M | ||
| Q1 24 | $585.4M | $566.7M |
负债/权益比HNRGRMAX
| Q4 25 | 0.19× | 0.96× | ||
| Q3 25 | 0.29× | 0.97× | ||
| Q2 25 | 0.35× | 0.98× | ||
| Q1 25 | 0.18× | 1.00× | ||
| Q4 24 | 0.40× | 1.02× | ||
| Q3 24 | 0.21× | 1.03× | ||
| Q2 24 | 0.13× | 1.05× | ||
| Q1 24 | 0.26× | 1.07× |
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 | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-16.8M | $33.5M |
| 自由现金流率自由现金流/营收 | -16.5% | 47.1% |
| 资本支出强度资本支出/营收 | 24.5% | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | $11.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流HNRGRMAX
| Q4 25 | $8.2M | $40.9M | ||
| Q3 25 | $23.2M | $17.7M | ||
| Q2 25 | $11.4M | $4.6M | ||
| Q1 25 | $38.4M | $5.7M | ||
| Q4 24 | $38.9M | $59.7M | ||
| Q3 24 | $-12.9M | $17.6M | ||
| Q2 24 | $23.5M | $15.9M | ||
| Q1 24 | $16.4M | $9.4M |
自由现金流HNRGRMAX
| Q4 25 | $-16.8M | $33.5M | ||
| Q3 25 | $3.7M | $16.4M | ||
| Q2 25 | $-1.7M | $2.9M | ||
| Q1 25 | $26.7M | $4.0M | ||
| Q4 24 | $25.2M | $53.0M | ||
| Q3 24 | $-24.5M | $16.3M | ||
| Q2 24 | $10.4M | $14.0M | ||
| Q1 24 | $1.5M | $6.8M |
自由现金流率HNRGRMAX
| Q4 25 | -16.5% | 47.1% | ||
| Q3 25 | 2.5% | 22.4% | ||
| Q2 25 | -1.6% | 4.0% | ||
| Q1 25 | 22.7% | 5.3% | ||
| Q4 24 | 26.9% | 73.2% | ||
| Q3 24 | -23.3% | 20.8% | ||
| Q2 24 | 11.0% | 17.8% | ||
| Q1 24 | 1.3% | 8.6% |
资本支出强度HNRGRMAX
| Q4 25 | 24.5% | 10.4% | ||
| Q3 25 | 13.3% | 1.8% | ||
| Q2 25 | 12.7% | 2.2% | ||
| Q1 25 | 9.9% | 2.3% | ||
| Q4 24 | 14.7% | 9.1% | ||
| Q3 24 | 11.0% | 1.7% | ||
| Q2 24 | 14.0% | 2.4% | ||
| Q1 24 | 13.3% | 3.3% |
现金转化率HNRGRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | 0.97× | 4.45× | ||
| Q2 25 | 1.38× | 0.97× | ||
| Q1 25 | 3.85× | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | -8.31× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
