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Hyliion Holdings (HYLN)
:HYLN
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Hyliion Holdings
(HYLN)
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Rating:51Neutral
Price Target:
$2.00
▼(-3.85% Downside)
The score is held back primarily by weak financial performance (ongoing losses and cash burn) and loss-driven valuation (negative P/E). Offsetting this are a modestly constructive technical setup and an encouraging earnings call focused on KARNO commercialization progress and customer interest, tempered by supply-chain and deployment risks.
Positive Factors
Regulatory Milestones
Achieving regulatory compliance removes significant barriers to market entry, facilitating smoother deployment and adoption of Hyliion's technology.
Product Innovation
Fuel flexibility enhances the product's appeal across diverse markets, potentially increasing adoption and supporting long-term revenue growth.
Customer Interest
Strong customer interest indicates potential demand for Hyliion's products, which could lead to significant revenue growth as production scales.
Negative Factors
Financial Losses
Persistent financial losses highlight ongoing operational challenges, which could strain resources and hinder long-term growth if not addressed.
Supply Chain Challenges
Supply chain issues could delay production and deployment, impacting Hyliion's ability to meet customer demand and achieve revenue targets.
Delayed Deployments
Delays in customer deployments can postpone revenue recognition and affect cash flow, potentially impacting Hyliion's financial stability.
Hyliion Holdings (HYLN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$369.55M
Dividend YieldN/A
Average Volume (3M)939.80K
Price to Earnings (P/E)―
Beta (1Y)2.14
Revenue GrowthN/A
EPS Growth10.52%
CountryUS
Employees93
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.08
Shares Outstanding175,974,230
10 Day Avg. Volume839,020
30 Day Avg. Volume939,801
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.87
Price to Sales (P/S)302.54
P/FCF Ratio-6.23
Enterprise Value/Market Cap0.67
Enterprise Value/Revenue57.59
Enterprise Value/Gross Profit1.29K
Enterprise Value/Ebitda-4.13
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hyliion Holdings Business Overview & Revenue Model
Company DescriptionHyliion 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 company was founded in 2015 and is headquartered in Cedar Park, Texas.
How the Company Makes MoneyHyliion generates revenue through the sale of its powertrain systems, including both hybrid and fully electric solutions, to manufacturers and fleet operators in the commercial vehicle market. The company also engages in partnerships with truck manufacturers to integrate its technology into their vehicles, which provides additional revenue through licensing agreements. Furthermore, Hyliion may benefit from government incentives and grants aimed at promoting clean energy technologies, which can supplement its earnings. The ongoing transition towards electrification in the transportation sector and increasing regulations around emissions are significant factors that contribute to Hyliion's revenue potential.
Hyliion Holdings Earnings Call Summary
Earnings Call Date:Nov 11, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 25, 2026
Earnings Call Sentiment Positive
The earnings call highlights significant progress in the KARNO Power Module's performance, regulatory achievements, and strong customer interest. However, there are challenges with deployment delays, supply chain issues, and financial losses. The overall sentiment is positive due to the outweighing advancements and strategic positioning.Q3-2025 Updates
Positive Updates
KARNO Power Module Performance Improvement
The KARNO Power Module is now achieving more than 200 kW of mechanical power and over 150 kW of electrical power generation, meeting the power needs of initial customers.
Regulatory Milestones Achieved
The KARNO Power Module meets the stringent air quality standards of California's South Coast Air Quality Management District and is not classified as an internal combustion engine by the EPA, removing significant regulatory hurdles.
Fuel Flexibility Demonstration
The KARNO Power Module demonstrated the ability to switch between natural gas and propane seamlessly, showcasing its capability to operate on more than 20 different fuel types.
UL Certification Progress
UL certification process for the KARNO Power Module is on track, with the linear electric motor passing testing requirements on the first attempt.
Strong Customer Interest
Nonbinding letters of intent have been executed with customers representing nearly 500 KARNO Cores, with expectations of being supply constrained due to growing demand.
Strategic Collaborations
Hyliion is exploring partnerships in the nuclear space and aligning with data center trends, such as NVIDIA's planned shift to 800-volt DC architectures.
Negative Updates
Delayed Customer Deployment
One early adopter customer, the U.S. Navy, has delayed its project timeline into 2026, affecting the deployment schedule.
Supply Chain Challenges
The company is experiencing challenges in sourcing high-strength magnets from China, which are crucial for the linear electric motor.
Financial Losses
The net loss in the third quarter was $13.3 million, up from $11.2 million in the same quarter of 2024, with year-to-date net loss reaching $44 million.
Company Guidance
In the third quarter of 2025, Hyliion Holdings reported significant advancements with their KARNO Power Module, achieving over 200 kilowatts of mechanical power and exceeding 150 kilowatts of electrical power generation, meeting the initial customers' needs. The company confirmed that the KARNO Power Module complies with stringent California air quality standards, achieving NOx levels below 2.5 parts per million and low single-digit carbon monoxide emissions without exhaust after treatment. A key milestone in reliability was reached with over 100 days of operational testing without unplanned downtime. Additionally, the module demonstrated seamless fuel switching capabilities. Hyliion secured nonbinding letters of intent for nearly 500 KARNO Cores, indicating strong customer interest, and is progressing towards commercialization in 2026. In the third quarter, they recorded $800,000 in revenue, with a net loss of $13.3 million, and ended with $164.7 million in cash and investments. The company anticipates a total of $4 million in revenue for 2025 and remains focused on scaling production capacity while navigating supply chain challenges, particularly in sourcing high-strength magnets.Hyliion Holdings Financial Statement Overview
Summary
Hyliion Holdings faces significant financial challenges with persistent losses and negative cash flows. Despite a strong equity position and low debt levels, the company's inability to generate positive operating or free cash flow is concerning. Strategic improvements are needed to enhance profitability.Income Statement
Hyliion Holdings has experienced significant losses over the years, with negative net profit margins due to high operating expenses compared to revenue. Although there was a slight increase in total revenue in 2024, the company's EBIT and EBITDA margins remain deeply negative, indicating ongoing operational challenges.18
Very Negative
Balance Sheet
The company has maintained a relatively strong equity base, with a high equity ratio. However, consistent losses have eroded stockholders' equity over time. The debt-to-equity ratio is low, suggesting limited leverage, but the negative net income impacts return on equity, which remains unfavorable.62
Positive
Cash Flow
Operating cash flow has been consistently negative, reflecting ongoing operational challenges. Free cash flow has also been negative, although there has been some improvement due to reduced capital expenditures. The cash flow from financing activities has been inconsistent, with some periods of significant inflow and others of outflow.22
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.27M | 1.51M | 672.00K | 2.11M | 200.00K | 0.00 |
| Gross Profit | 190.00K | 94.00K | -1.04M | -6.67M | -2.54M | -1.78M |
| EBITDA | -59.58M | -58.15M | -122.38M | -157.80M | -95.16M | 331.35M |
| Net Income | -58.40M | -52.05M | -123.51M | -153.36M | -96.05M | 324.12M |
Balance Sheet | ||||||
| Total Assets | 216.23M | 263.05M | 328.38M | 446.74M | 578.44M | 655.09M |
| Cash, Cash Equivalents and Short-Term Investments | 105.00M | 120.14M | 163.18M | 313.21M | 377.23M | 591.59M |
| Total Debt | 5.00M | 6.79M | 7.64M | 7.32M | 8.64M | 6.77M |
| Total Liabilities | 12.38M | 18.66M | 22.12M | 23.17M | 24.52M | 14.92M |
| Stockholders Equity | 203.86M | 244.39M | 306.27M | 423.57M | 553.91M | 640.17M |
Cash Flow | ||||||
| Free Cash Flow | -76.12M | -73.26M | -124.36M | -134.19M | -82.88M | -23.25M |
| Operating Cash Flow | -48.14M | -56.74M | -116.96M | -116.88M | -80.50M | -22.94M |
| Investing Cash Flow | 38.56M | 59.49M | 18.31M | -22.02M | -65.99M | -238.14M |
| Financing Cash Flow | -607.00K | -14.33M | -15.00K | -78.00K | 15.90M | 644.50M |
Hyliion Holdings Technical Analysis
Positive
2.08
Price Trends
1.91
Positive
1.96
Positive
1.72
Positive
Market Momentum
0.03
Negative
62.04
Neutral
91.39
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 2.08 is above the 20-day moving average (MA) of 1.93, above the 50-day MA of 1.91, and above the 200-day MA of 1.72, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 62.04 is Neutral, neither overbought nor oversold. The STOCH value of 91.39 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 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% | |
51 Neutral | $369.55M | -6.28 | -25.31% | ― | ― | 10.52% | |
50 Neutral | $1.24B | -3.89 | -192.35% | ― | 89.90% | 5.13% | |
50 Neutral | $810.46M | -8.06 | -33.69% | ― | ― | -15.43% | |
48 Neutral | $229.40M | -3.18 | -71.46% | ― | 46.09% | 46.01% | |
45 Neutral | $43.73M | -0.33 | -68.35% | ― | -14.88% | -43.30% |
* 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.