Hyliion Holdings Corp. (HYLN)
XASE:HYLN
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Hyliion Holdings
(NYSE MKT:HYLN)
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Rating:51Neutral
Price Target:
$7.00
▲(250.00% Upside)
Action:Reiterated
Date:05/23/26
The score is held down primarily by weak financial performance (large losses and ongoing cash burn) despite a low-debt balance sheet. Technicals are supportive but look extended/overbought, while valuation is constrained by lack of profitability. The latest earnings call added a moderate positive tilt due to clear milestone progress and reaffirmed guidance, but execution and commercialization risks remain significant.
Positive Factors
Low leverage / strong equity cushion
Very low debt and a sizeable equity base provide durable financial flexibility. This cushioning reduces near-term refinancing risk and gives management optionality to fund certification, early deployments and incremental manufacturing investments over the next several quarters without immediate capital markets dependence.
Negative Factors
Persistent cash burn and operating losses
Sustained negative operating cash flow and deep operating losses indicate the business still consumes material cash versus generating it. Even with a strong balance sheet today, continued cash burn implies runway erosion and a likely need for additional capital to underwrite higher-volume production or certification costs before breakeven can be achieved.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity cushion
Very low debt and a sizeable equity base provide durable financial flexibility. This cushioning reduces near-term refinancing risk and gives management optionality to fund certification, early deployments and incremental manufacturing investments over the next several quarters without immediate capital markets dependence.
Read all positive factors
Hyliion Holdings (HYLN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.25B
Dividend YieldN/A
Average Volume (3M)3.93M
Price to Earnings (P/E)―
Beta (1Y)2.12
Revenue Growth191.19%
EPS Growth5.05%
CountryUS
Employees93
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.29
Shares Outstanding178,327,240
10 Day Avg. Volume8,398,633
30 Day Avg. Volume3,928,738
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 Cap0.99
Enterprise Value/Revenue211.41
Enterprise Value/Gross Profit-187.64
Enterprise Value/Ebitda-23.00
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
Hyliion primarily makes money by selling power generation products and related services. Key revenue streams include: (1) Product revenue from the sale of generator units and modular power generation systems (e.g., packaged generator solutions), r...
Hyliion Holdings Earnings Call Summary
Earnings Call Date:May 12, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed notable technical and commercial progress: UL nonrecurring certification cleared, dynamic multi-fuel switching proven, an 800-kW Navy build commenced, a meaningful LOI with a data center developer, and a sharp acceleration in revenue (Q1 revenue up 4x QoQ and ~460% YoY). Expense control and a strong cash balance ($139.3M) provide runway, with management reaffirming $10M revenue guidance for 2026 and planning modest capital and equipment financing. Key risks remain: revenue is still concentrated in R&D services, commercialization depends on successful field deployments of ~10 early adopter units, the VFG agreement is nonbinding, facility-level UL certification and final per-unit runs remain necessary, and larger-scale production will require additional capital and operational learning. Overall, achieved milestones and growing demand appear to outweigh near-term execution and scaling risks.Positive Updates
Revenue Acceleration
Q1 2026 revenue of $2.8M, a fourfold increase from the prior quarter ($0.7M) and a ~460% increase versus Q1 2025 ($0.5M). Company reaffirmed 2026 revenue guidance of approximately $10M.
Negative Updates
Ongoing Net Loss and Cash Burn
Net loss of $11.7M in Q1 2026 (down 32% YoY from $17.3M) and cash used of $13M in the quarter. Management expects net spending of just over $50M for 2026, reducing cash to ~ $100M by year-end — additional capital likely required for larger-scale production.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Acceleration
Q1 2026 revenue of $2.8M, a fourfold increase from the prior quarter ($0.7M) and a ~460% increase versus Q1 2025 ($0.5M). Company reaffirmed 2026 revenue guidance of approximately $10M.
Read all positive updates
Company Guidance
Hyliion reaffirmed 2026 guidance of roughly $10 million in revenue (from R&D services and potential commercial sales), expects to sign an additional $40–$50 million of military contracts (targeted in H2), plans to deliver about 10 early‑adopter units this year, and to achieve full 200‑kW design power by year‑end while building an 800‑kW Navy unit in 2026; the company completed UL nonrecurring testing and has an LOI with VFG for up to 250 KARNO cores (~50 MW) over 5 years (management cited ~ $400 million at current pricing) and nearly 750 units of customer interest/LOIs. Financially, Q1 revenue was $2.8M (4x prior quarter) with cost of revenues $2.6M (gross margin $0.21M), operating expenses $13.4M, R&D $7.7M (down 37% YoY), net loss $11.7M (down 32% YoY), cash & short‑ and long‑term investments of $139.3M, Q1 cash spend $13M (capex $1.9M) and $1.6M in asset sale proceeds; the company forecasts net spending just over $50M for 2026 (year‑end cash ≈ $100M), plans up to $10M of equipment financing, expects existing plus a few added printers to support 2026–2028 production, and anticipates installing GE Colibrium‑equipped printers later this year.Hyliion Holdings Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
66
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.82M | 3.48M | 1.51M | 672.00K | 2.11M | 200.00K |
| Gross Profit | -6.55M | -5.79M | 94.00K | -1.04M | -6.67M | -2.54M |
| EBITDA | -53.47M | -59.10M | -58.15M | -122.38M | -157.80M | -95.16M |
| Net Income | -51.67M | -57.19M | -52.05M | -123.51M | -153.36M | -96.05M |
Balance Sheet | ||||||
| Total Assets | 190.75M | 203.56M | 263.05M | 328.38M | 446.74M | 578.44M |
| Cash, Cash Equivalents and Short-Term Investments | 72.47M | 92.36M | 120.14M | 163.18M | 313.21M | 377.23M |
| Total Debt | 3.72M | 4.37M | 6.79M | 7.64M | 7.32M | 8.64M |
| Total Liabilities | 9.03M | 11.55M | 18.66M | 22.12M | 23.17M | 24.52M |
| Stockholders Equity | 181.72M | 192.01M | 244.39M | 306.27M | 423.57M | 553.91M |
Cash Flow | ||||||
| Free Cash Flow | -63.55M | -70.29M | -73.26M | -124.36M | -134.19M | -82.88M |
| Operating Cash Flow | -45.27M | -46.55M | -56.74M | -116.96M | -116.88M | -80.50M |
| Investing Cash Flow | 53.43M | 60.93M | 59.49M | 18.31M | -22.02M | -65.99M |
| Financing Cash Flow | -226.00K | -670.00K | -14.33M | -15.00K | -78.00K | 15.90M |
Hyliion Holdings Technical Analysis
Positive
2.00
Price Trends
2.73
Positive
2.39
Positive
2.16
Positive
Market Momentum
1.23
Negative
85.37
Negative
91.37
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HYLN, the sentiment is Positive. The current price of 2 is below the 20-day moving average (MA) of 4.07, below the 50-day MA of 2.73, and below the 200-day MA of 2.16, indicating a bullish trend. The MACD of 1.23 indicates Negative momentum. The RSI at 85.37 is Negative, neither overbought nor oversold. The STOCH value of 91.37 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HYLN.
Hyliion Holdings Risk Analysis
Hyliion Holdings disclosed 41 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 1 New Risks
1.
Issuer Purchases of Equity Securities Q1, 2026
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% | |
56 Neutral | $483.76M | -6.00 | -32.48% | ― | 179.82% | 26.84% | |
51 Neutral | $1.25B | -24.03 | -26.05% | ― | 191.19% | 5.05% | |
51 Neutral | $1.78B | -12.16 | 691.75% | ― | 103.11% | 7.34% | |
51 Neutral | $163.70M | -2.02 | -101.64% | ― | 29.57% | 13.83% | |
49 Neutral | $59.09M | -0.92 | -54.47% | ― | -7.77% | 48.67% |
* Consumer Cyclical Sector Average
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Hyliion Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Hyliion Shareholders Approve Directors, Auditor and Incentive Plan
Positive
May 19, 2026
At Hyliion Holdings Corp.’s 2026 Annual Meeting of Stockholders, held on May 19, 2026, shareholders elected three board-recommended nominees as Class III directors to serve until the 2029 annual meeting or until successors are chosen. Invest...
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.