Hyster-Yale Materials Handling Inc (HY)
NYSE:HY
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Hyster-Yale Materials Handling
(NYSE:HY)
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Rating:59Neutral
Price Target:
$34.00
â–¼(-6.64% Downside)
Action:ReiteratedDate:03/04/26
The score is held back primarily by weakened 2025 profitability and a very high P/E, despite improved leverage and solid cash generation. Technicals are supportive with price trading above key moving averages and positive momentum indicators. Earnings call commentary adds moderate support via improving bookings and guidance for a 2026 recovery, but persistent tariff and margin headwinds limit upside confidence.
Positive Factors
Cash generation
Consistent positive operating and free cash flow in 2025 provides durable financial flexibility to fund capex, support working capital, and execute restructuring without relying on new debt. Strong cash generation underpins operational resilience through the industrial cycle.
Negative Factors
Volatile profitability
Earnings volatility undermines predictability of returns and makes planning harder for dealers, suppliers, and investors. Sharp swings from profit to loss reflect cyclicality and execution risk, increasing the chance of uneven cash conversion and inconsistent investor returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent positive operating and free cash flow in 2025 provides durable financial flexibility to fund capex, support working capital, and execute restructuring without relying on new debt. Strong cash generation underpins operational resilience through the industrial cycle.
Read all positive factors
Hyster-Yale Materials Handling (HY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$651.96M
Dividend Yield4.61%
Average Volume (3M)169.98K
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth-8.30%
EPS Growth-98.18%
CountryUS
Employees8,500
SectorIndustrials
Sector Strength72
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)-2.96
Shares Outstanding14,453,826
10 Day Avg. Volume168,561
30 Day Avg. Volume169,977
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.12
Price to Sales (P/S)0.14
P/FCF Ratio22.30
Enterprise Value/Market Cap1.41
Enterprise Value/Revenue0.24
Enterprise Value/Gross Profit1.45
Enterprise Value/Ebitda14.48
Forecast
1Y Price Target
$47.00Price Target Upside29.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.45
Revenue Forecast (FY)$3.73B
Hyster-Yale Materials Handling Business Overview & Revenue Model
Company Description
Hyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and trans...
How the Company Makes Money
HY makes money primarily by selling materials-handling equipment and by generating recurring aftermarket revenue tied to its installed base of trucks. (1) New equipment sales: The largest revenue stream comes from the sale of Hyster- and Yale-bran...
Hyster-Yale Materials Handling Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows each segment’s profit after operating expenses, revealing which parts of the company actually generate operating earnings and which require subsidies or restructuring. Helps assess operational efficiency, the payoff from investments, and which segments are likely to drive overall profitability or need management attention.
Shows each segment’s profit after operating expenses, revealing which parts of the company actually generate operating earnings and which require subsidies or restructuring. Helps assess operational efficiency, the payoff from investments, and which segments are likely to drive overall profitability or need management attention.
Data provided by:
The Fly
The FlyHyster-Yale Materials Handling Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: clear operational and commercial improvements (strong sequential bookings, improved cash flow, inventory discipline, and multiple cost-savings programs) signal constructive early recovery and positioning for growth. However, sizable near-term headwinds remain—notably significant tariff costs (~$100M for 2025), Q4 adjusted operating loss, revenue declines, shift to lower-margin product mix, and uneven global demand—delaying a full margin recovery. Management guidance expects a trough in Q1 2026 with gradual volume and profit recovery through H2 2026, supported by structural cost actions and product launches.Positive Updates
Sharp Improvement in Bookings
Bookings strengthened in Q4 to $540 million, up 42% sequentially (Q3 $380 million) and 35% year-over-year (prior year Q4 $400 million). Positive booking momentum continued into the first two months of 2026, led by North America and core counterbalance Class 5 trucks.
Negative Updates
Revenue Declines and Lower Shipment Volumes
Fourth quarter revenue declined to $923 million and full-year 2025 revenue declined to $3.8 billion, reflecting weaker shipment volumes as customers delayed purchases and shipment levels trailed order intake.
Read all updates
Q4-2025 Updates
Positive
Negative
Sharp Improvement in Bookings
Bookings strengthened in Q4 to $540 million, up 42% sequentially (Q3 $380 million) and 35% year-over-year (prior year Q4 $400 million). Positive booking momentum continued into the first two months of 2026, led by North America and core counterbalance Class 5 trucks.
Read all positive updates
Company Guidance
Management guided that Q1 2026 should mark the trough with a small loss in H1 and a moderate full‑year operating profit as volumes recover and production/shipments expand gradually through the year; early 2026 bookings are ahead of prior year and the first two months have continued the momentum. Key metrics cited: Q4 bookings rose to $540M (up 42% sequentially from $380M and 35% y/y from $400M), backlog exited at $1.28B, Q4 revenue was $923M and FY2025 revenue was $3.8B with FY adjusted operating profit of $16M, Q4 operating cash flow was $57M, and FY2025 gross tariff costs were ~ $100M (including $40M in Q4) — tariffs are expected to remain broadly consistent with Q4 levels through 2026 with mitigation benefits ramping in Q2. Capital allocation and cost actions: 2026 capex is guided to $55–75M, VERA delivered $15M of savings in 2025, a restructuring targets $40–45M annualized savings beginning in 2026, manufacturing optimization is expected to deliver $20–30M in 2027 (rising to $30–40M annualized by 2028), and total recurring annualized savings of $85–100M are expected by 2028 versus the start of 2025.Hyster-Yale Materials Handling Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
58
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.77B | 4.31B | 4.12B | 3.55B | 3.08B |
| Gross Profit | 632.80M | 895.50M | 785.60M | 433.90M | 363.40M |
| EBITDA | 63.30M | 300.40M | 263.40M | 9.40M | -93.20M |
| Net Income | -60.10M | 142.30M | 125.90M | -74.10M | -173.00M |
Balance Sheet | |||||
| Total Assets | 2.02B | 2.03B | 2.08B | 2.03B | 1.97B |
| Cash, Cash Equivalents and Short-Term Investments | 123.20M | 96.60M | 78.80M | 59.00M | 65.50M |
| Total Debt | 384.70M | 541.80M | 571.90M | 552.90M | 518.50M |
| Total Liabilities | 1.53B | 1.54B | 1.67B | 1.80B | 1.59B |
| Stockholders Equity | 472.00M | 475.10M | 389.90M | 204.40M | 357.10M |
Cash Flow | |||||
| Free Cash Flow | 23.60M | 122.90M | 115.30M | 11.80M | -297.80M |
| Operating Cash Flow | 86.10M | 170.70M | 150.70M | 40.60M | -253.50M |
| Investing Cash Flow | -62.70M | -47.60M | -34.50M | -35.40M | -24.50M |
| Financing Cash Flow | -800.00K | -100.10M | -100.50M | -10.90M | 193.60M |
Hyster-Yale Materials Handling Technical Analysis
Positive
36.42
Price Trends
34.71
Positive
32.90
Positive
34.87
Positive
Market Momentum
0.26
Negative
62.59
Neutral
91.68
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HY, the sentiment is Positive. The current price of 36.42 is above the 20-day moving average (MA) of 32.27, above the 50-day MA of 34.71, and above the 200-day MA of 34.87, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 62.59 is Neutral, neither overbought nor oversold. The STOCH value of 91.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HY.
Hyster-Yale Materials Handling Risk Analysis
Hyster-Yale Materials Handling disclosed 23 risk factors in its most recent earnings report. Hyster-Yale Materials Handling reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hyster-Yale Materials Handling Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $367.88B | 30.12 | 45.10% | 0.98% | -1.51% | -9.69% | |
73 Outperform | $163.41B | 54.83 | 18.93% | 1.34% | -11.66% | -27.80% | |
72 Outperform | $66.89B | 24.25 | 12.57% | 3.83% | -15.29% | -42.93% | |
67 Neutral | $7.18B | 15.89 | 11.16% | 1.24% | 4.60% | -65.73% | |
66 Neutral | $9.49B | 12.46 | 14.57% | 1.56% | -2.28% | -0.53% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $651.96M | -8.76 | -11.65% | 4.61% | -8.30% | -98.18% |
* Industrials Sector Average
HY
Hyster-Yale Materials Handling
36.42
-0.20
-0.54%
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Hyster-Yale Materials Handling Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Hyster-Yale Updates Investors With New Strategic Presentation
Neutral
Mar 4, 2026
On March 4, 2026, Hyster-Yale, Inc. posted an updated investor presentation on its corporate website, providing the market with refreshed information on the company’s performance and strategic direction. The materials were furnished in conne...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Hyster-Yale Expands Historical Quarterly Financial Disclosure Access
Positive
Mar 4, 2026
On March 3, 2026, Hyster-Yale, Inc. plans to post additional historical quarterly financial data on its website and update the schedules previously made available for its fourth-quarter 2025 results. The company is furnishing this information as h...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.