(HY) Hyster-Yale Materials - Overview
Sector: Industrials | Industry: Farm & Heavy Construction Machinery | Exchange: NYSE (USA) | Market Cap: 607m USD | Total Return: -11.7% in 12m
Avg Turnover: 3.20M
Qual. Beats: 0
Rev. Trend: -52.3%
Qual. Beats: -1
Warnings
High Debt/EBITDA (45.9) with thin interest coverage (-0.9)
Interest Coverage Ratio -0.9 is critical
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Hyster-Yale, Inc. (HY) is a global manufacturer and distributor of lift trucks, specialized port equipment, and integrated material handling solutions. The company operates an integrated business model that includes the production of core components such as masts and transmissions, complemented by aftermarket parts distribution and fleet management services. Its primary market reach is achieved through a network of independent retail dealerships under the Hyster and Yale brand names.
The industrial machinery sector is currently characterized by a shift toward electrification, leading Hyster-Yale to integrate hydrogen fuel cell technology through its Nuvera subsidiary. Additionally, the company utilizes a multi-brand strategy, incorporating Bolzoni and UNISOURCE to capture diverse price points and specialized attachment requirements across the global supply chain.
Investors can further evaluate these operational segments and historical performance trends by exploring ValueRay.
Headquartered in Cleveland, Ohio, the company rebranded from Hyster-Yale Materials Handling, Inc. to Hyster-Yale, Inc. in June 2024 to reflect its broader scope in technology and energy solutions. It maintains a significant presence in the heavy-duty port equipment and rough-terrain forklift markets, catering to specialized industrial logistics.
- Global manufacturing activity and warehousing demand drive lift truck order backlogs
- Fluctuations in steel and component costs impact manufacturing gross margins
- Expansion of aftermarket parts and fleet services provides high-margin recurring revenue
- Hydrogen fuel cell commercialization at Nuvera influences long-term valuation premiums
- Regional economic growth in North America and EMEA dictates unit sales volume
| Net Income: -99.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.54 > 1.0 |
| NWC/Revenue: 8.54% < 20% (prev 9.63%; Δ -1.09% < -1%) |
| CFO/TA 0.05 > 3% & CFO 89.6m > Net Income -99.2m |
| Net Debt (592.3m) to EBITDA (12.9m): 45.91 < 3 |
| Current Ratio: 1.31 > 1.5 & < 3 |
| Outstanding Shares: last quarter (17.8m) vs 12m ago 0.31% < -2% |
| Gross Margin: 15.83% > 18% (prev 0.20%; Δ 1.56k% > 0.5%) |
| Asset Turnover: 182.1% > 50% (prev 202.5%; Δ -20.41% > 0%) |
| Interest Coverage Ratio: -0.89 > 6 (EBITDA TTM 12.9m / Interest Expense TTM 37.3m) |
| A: 0.16 (Total Current Assets 1.31b - Total Current Liabilities 992.9m) / Total Assets 1.96b |
| B: 0.13 (Retained Earnings 252.2m / Total Assets 1.96b) |
| C: -0.02 (EBIT TTM -33.2m / Avg Total Assets 2.01b) |
| D: 0.06 (Book Value of Equity 86.1m / Total Liabilities 1.51b) |
| Altman-Z'' = 1.41 = BB |
| DSRI: 1.06 (Receivables 471.2m/506.1m, Revenue 3.65b/4.16b) |
| GMI: 1.28 (GM 15.83% / 20.23%) |
| AQI: 1.19 (AQ_t 0.17 / AQ_t-1 0.14) |
| SGI: 0.88 (Revenue 3.65b / 4.16b) |
| TATA: -0.10 (NI -99.2m - CFO 89.6m) / TA 1.96b) |
| Beneish M = -2.80 (Cap -4..+1) = A |
As of May 27, 2026, the stock is trading at USD 35.18 with a total of 62,036 shares traded.
Over the past week, the price has changed by +4.18%,
over one month by -10.64%,
over three months by -6.96% and
over the past year by -11.73%.
Hyster-Yale Materials has received a consensus analysts rating of 3.50. Therefore, it is recommended to hold HY.
- StrongBuy: 0
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 46 | 30.8% |
P/E Forward = 13.8313
P/S = 0.1661
P/B = 1.3859
P/EG = 1.61
Revenue TTM = 3.65b USD
EBIT TTM = -33.2m USD
EBITDA TTM = 12.9m USD
Long Term Debt = 251.1m USD (from longTermDebt, last quarter)
Short Term Debt = 254.2m USD (from shortTermDebt, last quarter)
Debt = 674.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 168.8m
Net Debt = 592.3m USD (calculated: Debt 674.1m - CCE 81.8m)
Enterprise Value = 1.20b USD (607.0m + Debt 674.1m - CCE 81.8m)
Interest Coverage Ratio = -0.89 (Ebit TTM -33.2m / Interest Expense TTM 37.3m)
EV/FCF = 42.99x (Enterprise Value 1.20b / FCF TTM 27.9m)
FCF Yield = 2.33% (FCF TTM 27.9m / Enterprise Value 1.20b)
FCF Margin = 0.76% (FCF TTM 27.9m / Revenue TTM 3.65b)
Net Margin = -2.71% (Net Income TTM -99.2m / Revenue TTM 3.65b)
Gross Margin = 15.83% ((Revenue TTM 3.65b - Cost of Revenue TTM 3.08b) / Revenue TTM)
Gross Margin QoQ = 15.92% (prev 14.25%)
Tobins Q-Ratio = 0.61 (Enterprise Value 1.20b / Total Assets 1.96b)
Interest Expense / Debt = 5.53% (Interest Expense 37.3m / Debt 674.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = -26.2m (EBIT -33.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.31 (Total Current Assets 1.31b / Total Current Liabilities 992.9m)
Debt / Equity = 1.57 (Debt 674.1m / totalStockholderEquity, last quarter 430.1m)
Debt / EBITDA = 45.91 (Net Debt 592.3m / EBITDA 12.9m)
Debt / FCF = 21.23 (Net Debt 592.3m / FCF TTM 27.9m)
Total Stockholder Equity = 495.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.94% (Net Income -99.2m / Total Assets 1.96b)
RoE = -20.01% (Net Income TTM -99.2m / Total Stockholder Equity 495.7m)
RoCE = -4.45% (EBIT -33.2m / Capital Employed (Equity 495.7m + L.T.Debt 251.1m))
RoIC = -2.31% (negative operating profit) (NOPAT -26.2m / Invested Capital 1.14b)
WACC = 7.79% (E(607.0m)/V(1.28b) * Re(11.58%) + D(674.1m)/V(1.28b) * Rd(5.53%) * (1-Tc(0.21)))
Discount Rate = 11.58% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 53.94 | Cagr: 0.84%
[DCF] Terminal Value 73.10% ; FCFF base≈41.1m ; Y1≈36.1m ; Y5≈29.1m
[DCF] Fair Price = N/A (negative equity: EV 467.9m - Net Debt 592.3m = -124.4m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.19 | # QB: 0
Revenue Correlation: -52.33 | Revenue CAGR: -2.97% | SUE: -1.98 | # QB: -1
EPS current Quarter (2026-06-30): EPS=-1.13 | Chg30d=+3.42% | Revisions=-20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.11 | Chg30d=+184.62% | Revisions=+20% | Analysts=2
EPS current Year (2026-12-31): EPS=-3.93 | Chg30d=-33.67% | Revisions=N/A | GrowthEPS=-119.5% | GrowthRev=-6.3%
EPS next Year (2027-12-31): EPS=2.07 | Chg30d=+113.40% | Revisions=-20% | GrowthEPS=+128.5% | GrowthRev=+9.1%
[Analyst] Revisions Ratio: -20%