Hyster-Yale Financials
This page shows Hyster-Yale (HY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Gross-margin compression and sticky overhead turned a business that still produced cash from prior-year profit into a current-year loss.
The net loss did not become a cash drain because inventory fell by$120M , helping operating cash flow stay positive at$86.1M . Free cash flow remained positive at$23.6M , so the income statement overstated the immediate cash strain; the cushion came from working-capital release, which helps in a downturn but does not replace healthy margins.
The earnings reversal was mainly a gross profit problem: gross profit dropped by
The balance sheet still looks liquid in the near term, with a current ratio of 1.3x and cash of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Hyster-Yale's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Hyster-Yale has an operating margin of -0.6%, meaning the company retains $-1 of operating profit per $100 of revenue. This results in a moderate score of 34/100, indicating healthy but not exceptional operating efficiency. This is down from 5.7% the prior year.
Hyster-Yale's revenue declined 12.5% year-over-year, from $4.3B to $3.8B. This contraction results in a growth score of 19/100.
Hyster-Yale has elevated debt relative to equity (D/E of 1.00), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 3/100, reflecting increased financial risk.
Hyster-Yale's current ratio of 1.34 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.
While Hyster-Yale generated $86.1M in operating cash flow, capex of $62.5M consumed most of it, leaving $23.6M in free cash flow. This results in a low score of 35/100, reflecting heavy capital investment rather than weak cash generation.
Hyster-Yale's ROE of -12.7% shows moderate profitability relative to equity, earning a score of 54/100. This is down from 29.9% the prior year.
Hyster-Yale scores 2.46, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Hyster-Yale passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Hyster-Yale generates $-1.43 in operating cash flow ($86.1M OCF vs -$60.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Hyster-Yale earns $-0.7 in operating income for every $1 of interest expense (-$22.1M vs $31.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Hyster-Yale generated $3.8B in revenue in fiscal year 2025. This represents a decrease of 12.5% from the prior year.
Hyster-Yale's EBITDA was $23.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 91.9% from the prior year.
Hyster-Yale reported -$60.1M in net income in fiscal year 2025. This represents a decrease of 142.2% from the prior year.
Hyster-Yale earned $-3.40 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 142.3% from the prior year.
Cash & Balance Sheet
Hyster-Yale generated $23.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 80.8% from the prior year.
Hyster-Yale held $123.2M in cash against $473.4M in long-term debt as of fiscal year 2025.
Hyster-Yale paid $1.43 per share in dividends in fiscal year 2025. This represents an increase of 4.0% from the prior year.
Margins & Returns
Hyster-Yale's gross margin was 16.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 4.0 percentage points from the prior year.
Hyster-Yale's operating margin was -0.6% in fiscal year 2025, reflecting core business profitability. This is down 6.3 percentage points from the prior year.
Hyster-Yale's net profit margin was -1.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.9 percentage points from the prior year.
Hyster-Yale's ROE was -12.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 42.7 percentage points from the prior year.
Capital Allocation
Hyster-Yale invested $137.2M in research and development in fiscal year 2025. This represents an increase of 1.0% from the prior year.
Hyster-Yale spent -$4.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 67.9% from the prior year.
Hyster-Yale invested $62.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 30.8% from the prior year.
HY Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $795.2M-13.9% | $923.2M-5.7% | $979.1M+2.4% | $956.6M+5.1% | $910.4M-14.7% | $1.1B+5.1% | $1.0B-13.0% | $1.2B |
| Cost of Revenue | $670.4M-15.4% | $792.2M-3.8% | $823.2M+4.4% | $788.4M+7.6% | $732.7M-14.8% | $859.9M+4.5% | $823.2M-9.4% | $908.8M |
| Gross Profit | $124.8M-4.7% | $131.0M-16.0% | $155.9M-7.3% | $168.2M-5.3% | $177.7M-14.4% | $207.6M+7.6% | $192.9M-25.6% | $259.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $151.2M+3.1% | $146.7M-3.9% | $152.6M-5.2% | $161.0M+3.1% | $156.2M+1.5% | $153.9M-3.0% | $158.6M-3.1% | $163.7M |
| Operating Income | -$28.0M+24.7% | -$37.2M-1717.4% | $2.3M+127.1% | -$8.5M-139.9% | $21.3M-34.1% | $32.3M-2.4% | $33.1M-65.4% | $95.6M |
| Interest Expense | $7.2M-5.3% | $7.6M-5.0% | $8.0M+1.3% | $7.9M+2.6% | $7.7M0.0% | $7.7M-8.3% | $8.4M-4.5% | $8.8M |
| Income Tax | -$1.8M-118.6% | $9.7M+434.5% | -$2.9M-1550.0% | $200K-97.5% | $8.1M-39.1% | $13.3M+29.1% | $10.3M-60.5% | $26.1M |
| Net Income | -$30.5M+41.9% | -$52.5M-2182.6% | -$2.3M+83.5% | -$13.9M-261.6% | $8.6M-16.5% | $10.3M-40.1% | $17.2M-72.8% | $63.3M |
| EPS (Diluted) | $-1.71 | N/A | $-0.13+83.5% | $-0.79-264.6% | $0.48 | N/A | $0.97-72.9% | $3.58 |
HY Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B-3.1% | $2.0B-1.9% | $2.1B-0.7% | $2.1B+1.0% | $2.1B+1.3% | $2.0B-6.6% | $2.2B+2.7% | $2.1B |
| Current Assets | $1.3B-3.1% | $1.3B-6.7% | $1.4B-0.9% | $1.5B+0.1% | $1.5B+1.5% | $1.4B-8.1% | $1.6B+2.0% | $1.5B |
| Cash & Equivalents | $81.8M-33.6% | $123.2M+73.3% | $71.1M+6.3% | $66.9M-13.3% | $77.2M-20.1% | $96.6M+27.8% | $75.6M+13.7% | $66.5M |
| Inventory | $643.8M+1.5% | $634.3M-14.3% | $740.3M-4.7% | $776.6M+0.5% | $772.7M+2.4% | $754.3M-11.8% | $855.3M+8.2% | $790.7M |
| Accounts Receivable | $471.2M-3.8% | $489.6M-6.0% | $520.6M+1.7% | $512.1M+1.2% | $506.1M+3.6% | $488.4M-10.0% | $542.5M-6.3% | $578.7M |
| Goodwill | $54.6M-2.0% | $55.7M+0.4% | $55.5M+0.2% | $55.4M+8.2% | $51.2M-6.2% | $54.6M-6.2% | $58.2M+12.8% | $51.6M |
| Total Liabilities | $1.5B-1.4% | $1.5B+1.5% | $1.5B-0.4% | $1.5B-0.9% | $1.5B-0.6% | $1.5B-5.4% | $1.6B-0.6% | $1.6B |
| Current Liabilities | $992.9M-0.9% | $1.0B-3.4% | $1.0B-0.5% | $1.0B-1.1% | $1.1B-0.4% | $1.1B-7.9% | $1.1B-2.0% | $1.2B |
| Long-Term Debt | $484.4M+2.3% | $473.4M+6.4% | $444.9M-1.2% | $450.2M+85.6% | $242.6M+0.3% | $241.9M-45.4% | $443.2M-6.9% | $475.8M |
| Total Equity | $430.1M-8.9% | $472.0M-11.9% | $536.0M-1.6% | $544.7M+6.8% | $510.0M+7.3% | $475.1M-10.3% | $529.9M+13.8% | $465.7M |
| Retained Earnings | $252.2M-12.8% | $289.1M-16.9% | $348.1M-2.4% | $356.7M-5.4% | $377.0M+0.6% | $374.6M+1.1% | $370.4M+3.1% | $359.3M |
HY Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$32.9M-158.2% | $56.5M+52.3% | $37.1M+28.4% | $28.9M+179.4% | -$36.4M-145.1% | $80.7M+15.1% | $70.1M+2904.0% | -$2.5M |
| Capital Expenditures | $9.8M-58.5% | $23.6M+62.8% | $14.5M+5.1% | $13.8M+30.2% | $10.6M-40.8% | $17.9M+75.5% | $10.2M-16.4% | $12.2M |
| Free Cash Flow | -$42.7M-229.8% | $32.9M+45.6% | $22.6M+49.7% | $15.1M+132.1% | -$47.0M-174.8% | $62.8M+4.8% | $59.9M+507.5% | -$14.7M |
| Investing Cash Flow | -$9.3M+59.4% | -$22.9M-61.3% | -$14.2M+7.2% | -$15.3M-48.5% | -$10.3M+39.1% | -$16.9M-40.8% | -$12.0M-2.6% | -$11.7M |
| Financing Cash Flow | $1.3M-92.6% | $17.6M+197.2% | -$18.1M+30.9% | -$26.2M-201.2% | $25.9M+168.3% | -$37.9M+25.4% | -$50.8M-366.0% | $19.1M |
| Dividends Paid | $6.4M-1.5% | $6.5M+3.2% | $6.3M-1.6% | $6.4M+3.2% | $6.2M+1.6% | $6.1M0.0% | $6.1M0.0% | $6.1M |
| Share Buybacks | $700K+107.8% | -$9.0M-9100.0% | $100K+200.0% | -$100K-102.2% | $4.5M+119.5% | -$23.1M | $0 | $0 |
HY Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.7%+1.5pp | 14.2%-1.7pp | 15.9%-1.7pp | 17.6%-1.9pp | 19.5%+0.1pp | 19.4%+0.5pp | 19.0%-3.2pp | 22.2% |
| Operating Margin | -3.5%+0.5pp | -4.0%-4.3pp | 0.2%+1.1pp | -0.9%-3.2pp | 2.3%-0.7pp | 3.0%-0.2pp | 3.3%-4.9pp | 8.2% |
| Net Margin | -3.8%+1.9pp | -5.7%-5.5pp | -0.2%+1.2pp | -1.5%-2.4pp | 0.9%-0.0pp | 1.0%-0.7pp | 1.7%-3.7pp | 5.4% |
| Return on Equity | -7.1%+4.0pp | -11.1%-10.7pp | -0.4%+2.1pp | -2.5%-4.2pp | 1.7%-0.5pp | 2.2%-1.1pp | 3.3%-10.3pp | 13.6% |
| Return on Assets | -1.6%+1.0pp | -2.6%-2.5pp | -0.1%+0.6pp | -0.7%-1.1pp | 0.4%-0.1pp | 0.5%-0.3pp | 0.8%-2.2pp | 3.0% |
| Current Ratio | 1.31-0.0 | 1.34-0.0 | 1.390.0 | 1.40+0.0 | 1.38+0.0 | 1.350.0 | 1.36+0.1 | 1.31 |
| Debt-to-Equity | 1.13+0.1 | 1.00+0.2 | 0.830.0 | 0.83+0.4 | 0.48-0.0 | 0.51-0.3 | 0.84-0.2 | 1.02 |
| FCF Margin | -5.4%-8.9pp | 3.6%+1.3pp | 2.3%+0.7pp | 1.6%+6.7pp | -5.2%-11.0pp | 5.9%-0.0pp | 5.9%+7.2pp | -1.3% |
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Frequently Asked Questions
What is Hyster-Yale's annual revenue?
Hyster-Yale (HY) reported $3.8B in total revenue for fiscal year 2025. This represents a -12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hyster-Yale's revenue growing?
Hyster-Yale (HY) revenue declined by 12.5% year-over-year, from $4.3B to $3.8B in fiscal year 2025.
Is Hyster-Yale profitable?
No, Hyster-Yale (HY) reported a net income of -$60.1M in fiscal year 2025, with a net profit margin of -1.6%.
What is Hyster-Yale's EBITDA?
Hyster-Yale (HY) had EBITDA of $23.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hyster-Yale have?
As of fiscal year 2025, Hyster-Yale (HY) had $123.2M in cash and equivalents against $473.4M in long-term debt.
What is Hyster-Yale's gross margin?
Hyster-Yale (HY) had a gross margin of 16.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hyster-Yale's operating margin?
Hyster-Yale (HY) had an operating margin of -0.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hyster-Yale's net profit margin?
Hyster-Yale (HY) had a net profit margin of -1.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Hyster-Yale pay dividends?
Yes, Hyster-Yale (HY) paid $1.43 per share in dividends during fiscal year 2025.
What is Hyster-Yale's return on equity (ROE)?
Hyster-Yale (HY) has a return on equity of -12.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hyster-Yale's free cash flow?
Hyster-Yale (HY) generated $23.6M in free cash flow during fiscal year 2025. This represents a -80.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hyster-Yale's operating cash flow?
Hyster-Yale (HY) generated $86.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hyster-Yale's total assets?
Hyster-Yale (HY) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hyster-Yale's capital expenditures?
Hyster-Yale (HY) invested $62.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Hyster-Yale spend on research and development?
Hyster-Yale (HY) invested $137.2M in research and development during fiscal year 2025.
What is Hyster-Yale's current ratio?
Hyster-Yale (HY) had a current ratio of 1.34 as of fiscal year 2025, which is considered adequate.
What is Hyster-Yale's debt-to-equity ratio?
Hyster-Yale (HY) had a debt-to-equity ratio of 1.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hyster-Yale's return on assets (ROA)?
Hyster-Yale (HY) had a return on assets of -3.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hyster-Yale's Altman Z-Score?
Hyster-Yale (HY) has an Altman Z-Score of 2.46, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Hyster-Yale's Piotroski F-Score?
Hyster-Yale (HY) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hyster-Yale's earnings high quality?
Hyster-Yale (HY) has an earnings quality ratio of -1.43x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hyster-Yale cover its interest payments?
Hyster-Yale (HY) has an interest coverage ratio of -0.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hyster-Yale?
Hyster-Yale (HY) scores 30 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.