Hyliion Holdings Corp. (HYLN)
XASE:HYLN
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Hyliion Holdings
(NYSE MKT:HYLN)
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Rating:49Neutral
Price Target:
$1.50
▼(-11.76% Downside)
Action:ReiteratedDate:02/26/26
The score is held down primarily by weak financial performance (small revenue base, large losses, and persistent cash burn), partially offset by a low-debt balance sheet. The latest earnings call adds support via clear commercialization milestones and customer/contract pipeline commentary, while technical indicators are broadly neutral and valuation is constrained by negative earnings and no dividend.
Positive Factors
Low leverage / healthy balance sheet cushion
Very low absolute debt relative to equity gives the company durable financial optionality to fund near-term commercialization and R&D without immediate leverage pressure. This reduces insolvency risk, supports staged deployments, and helps management pursue strategic partnerships or selective capex while preserving runway.
Negative Factors
Very small, concentrated revenue base
Revenue remains tiny and concentrated in R&D services, meaning the company lacks a diversified recurring revenue stream. With operating expenses far exceeding sales, the business must materially scale product sales to convert LOIs into sustainable revenue; until then margins and profitability remain structurally weak.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / healthy balance sheet cushion
Very low absolute debt relative to equity gives the company durable financial optionality to fund near-term commercialization and R&D without immediate leverage pressure. This reduces insolvency risk, supports staged deployments, and helps management pursue strategic partnerships or selective capex while preserving runway.
Read all positive factors
Hyliion Holdings (HYLN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$316.51M
Dividend YieldN/A
Average Volume (3M)1.04M
Price to Earnings (P/E)―
Beta (1Y)2.05
Revenue GrowthN/A
EPS Growth10.52%
CountryUS
Employees93
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.07
Shares Outstanding177,812,790
10 Day Avg. Volume795,337
30 Day Avg. Volume1,036,842
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)1.68
Price to Sales (P/S)92.89
P/FCF Ratio-4.59
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue85.74
Enterprise Value/Gross Profit1.75K
Enterprise Value/Ebitda-5.43
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.33
Revenue Forecast (FY)$11.95M
Hyliion Holdings Business Overview & Revenue Model
Company Description
Hyliion Holdings Corp. designs, develops, and sells electrified powertrain solutions for the commercial vehicle industry. It also provides battery management systems for hybrid and fully electric vehicle applications; and battery packs. The compan...
How the Company Makes Money
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Hyliion Holdings Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call emphasized strong technical progress (UL testing advancement, 175 kW demonstrated toward a 200 kW target, diesel capability, dynamic fuel switching), expanding commercial and military interest (~500 LOIs, potential $40M–$50M in additional military opportunities), and manufacturing readiness (30+ printers, throughput improvements). Financially, revenue remains small and concentrated in R&D services ($3.5M FY2025), net losses widened to $57.2M, and the company forecasts cash declining to ~ $100M by end of 2026 with the expectation that additional capital will be needed to scale beyond initial commercialization. Overall, the operational and technical wins and clear commercialization roadmap outweigh near-term financial and execution risks, but successful certification, commercialization execution, and controlled capital deployment are critical to realize the opportunity.Positive Updates
UL Certification Progress
Completed UL testing for the linear electric motor and battery pack (2 of 3 required certifications). Initial full power module testing identified small refinements; next round of UL testing to begin shortly with certification expected in Q2 2026.
Negative Updates
UL Certification Still Pending
Full KARNO power module UL certification is not yet complete and remains a near-term gating item for broader customer deployments; certification is expected in Q2 2026 but is not guaranteed.
Read all updates
Q4-2025 Updates
Positive
Negative
UL Certification Progress
Completed UL testing for the linear electric motor and battery pack (2 of 3 required certifications). Initial full power module testing identified small refinements; next round of UL testing to begin shortly with certification expected in Q2 2026.
Read all positive updates
Company Guidance
The company guided that 2026 will be a transition year from development to deployment and commercialization, with UL certification for early-adopter KARNO power modules expected in Q2 2026 (2 of 3 UL tests—linear motor and battery—already complete, full module testing underway), deployment of roughly 10 early-adopter units this year (including the 2 Navy units delivered in 2025 and additional Navy and commercial deliveries), and continued field validation as they push from the current demonstrated 175 kW toward the full 200 kW design rating by year-end; they reiterated nearly 500 nonbinding LOIs, cited $40–$50 million of potential new U.S. military revenue atop roughly $20 million of Navy/O&R work in progress, and expect about $10 million of revenue in 2026, while slowing capital spending, pursuing up to $10 million of equipment financing, targeting net spending of just over $50 million for the year and ending 2026 with approximately $100 million of cash and investments (down from $152.4 million at year-end 2025); manufacturing plans call for leveraging a base of more than 30 additive printers (with several more arriving and testing of new GE Colibrium laser technology) and a modular multi-core roadmap (2 MW concept scaling in ~800 kW increments to 800 kW, 1.6 MW, 2.4 MW, 3.2 MW, etc.) toward a commercialization ramp in late 2026 and meaningful production scale in 2027–2028.Hyliion Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.48M | 1.51M | 672.00K | 2.11M | 200.00K |
| Gross Profit | 170.00K | 94.00K | -1.04M | -6.67M | -2.54M |
| EBITDA | -51.23M | -58.15M | -122.38M | -157.80M | -95.16M |
| Net Income | -57.19M | -52.05M | -123.51M | -153.36M | -96.05M |
Balance Sheet | |||||
| Total Assets | 203.56M | 263.05M | 328.38M | 446.74M | 578.44M |
| Cash, Cash Equivalents and Short-Term Investments | 92.36M | 120.14M | 163.18M | 313.21M | 377.23M |
| Total Debt | 4.37M | 6.79M | 7.64M | 7.32M | 8.64M |
| Total Liabilities | 11.55M | 18.66M | 22.12M | 23.17M | 24.52M |
| Stockholders Equity | 192.01M | 244.39M | 306.27M | 423.57M | 553.91M |
Cash Flow | |||||
| Free Cash Flow | -70.29M | -73.26M | -124.36M | -134.19M | -82.88M |
| Operating Cash Flow | -46.55M | -56.74M | -116.96M | -116.88M | -80.50M |
| Investing Cash Flow | 60.93M | 59.49M | 18.31M | -22.02M | -65.99M |
| Financing Cash Flow | -670.00K | -14.33M | -15.00K | -78.00K | 15.90M |
Hyliion Holdings Technical Analysis
Negative
1.70
Price Trends
1.97
Negative
1.94
Negative
1.87
Negative
Market Momentum
-0.08
Positive
45.06
Neutral
34.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HYLN, the sentiment is Negative. The current price of 1.7 is below the 20-day moving average (MA) of 1.85, below the 50-day MA of 1.97, and below the 200-day MA of 1.87, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 45.06 is Neutral, neither overbought nor oversold. The STOCH value of 34.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HYLN.
Hyliion Holdings Risk Analysis
Hyliion Holdings disclosed 44 risk factors in its most recent earnings report. Hyliion Holdings 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
Hyliion Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | $316.51M | -5.64 | -27.24% | ― | ― | 10.52% | |
48 Neutral | $818.95M | -5.21 | 9999.00% | ― | 89.90% | 5.13% | |
48 Neutral | $142.96M | -2.52 | -73.64% | ― | 46.09% | 46.01% | |
47 Neutral | $59.98M | -10.01 | -58.76% | ― | -14.88% | -43.30% | |
43 Neutral | $359.29M | -8.16 | -30.37% | ― | ― | -15.43% |
* Consumer Cyclical Sector Average
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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.