olivLaw · US equity research
Helios Technologies, Inc. HLIO
Miscellaneous Fabricated Metal Products · SIC 3490 · Vertical: Miscellaneous Fabricated Metal Products (SIC 3490)
Helios Technologies (HLIO) designs and makes hydraulic motion control and electronic controls for markets such as construction, agriculture, material handling and health and wellness. The company reported growing sales for the second quarter of 2026, and fiscal 2025 net sales were 839.0 million USD.
At the close of 04 Nov 2026, Helios Technologies, Inc. (HLIO) stock was 66.95 USD (−2.16% on the day), with market capitalisation 2.2 bn USD, P/E 31.2 on diluted EPS of 2.15 USD over the last 12 months, dividend yield 0.63%, beta 1.44, 52-week range 50.14–92.88 USD. Latest reported quarter (Q2 2027): revenue of 231.9 m USD (+9.1% YoY), net income of 21.9 m USD (+92.1% YoY), diluted EPS 0.66 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 44.8
- weak (30–45)
- Bollinger (20, 2)
- 65.92 – 69.79
- in the lower half of the band · %B 0.27 · band width 5.7%
- SMA 50 / 200
- 69.14 / 73.48
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.68 / -0.79
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −5.6% | −1.1% | −4.5 pp | — |
| 3 months | −18.7% | −0.5% | −18.3 pp | — |
| 6 months | −4.1% | +4.4% | −8.5 pp | — |
| Year to date | +25.2% | +12.3% | +12.8 pp | — |
| 1 year | +20.7% | +13.5% | +7.2 pp | +5.6% |
| 3 years | +52.1% | +76.4% | −24.3 pp | +80.9% |
| 5 years | −28.2% | +63.7% | −91.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 04 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 194.5 m | 179.5 m | 195.5 m | 212.5 m | 220.3 m | 210.8 m | 228.4 m | 231.9 m |
| Cost of revenue | 134.0 m | 125.5 m | 135.6 m | 145.0 m | 147.3 m | 139.9 m | 153.5 m | 151.7 m |
| Gross profit | 60.5 m | 54.0 m | 59.9 m | 67.5 m | 73.0 m | 70.9 m | 74.9 m | 80.2 m |
| SG&A | 30.4 m | 32.8 m | 34.6 m | 37.3 m | 38.2 m | 37.6 m | 37.4 m | 40.2 m |
| Operating income | 22.2 m | 13.3 m | 17.0 m | 21.9 m | 1.3 m | 25.7 m | 29.9 m | 32.5 m |
| Depreciation & amortisation | 16.1 m | 16.0 m | 16.0 m | 15.9 m | 15.9 m | 15.2 m | 15.1 m | 15.2 m |
| Pre-tax income | 13.3 m | 7.6 m | 9.5 m | 14.9 m | 12.8 m | 25.2 m | 25.6 m | 28.1 m |
| Income tax | 1.9 m | 2.8 m | 2.2 m | 3.5 m | 2.5 m | 5.7 m | 5.9 m | 6.2 m |
| Net income | 11.4 m | 4.8 m | 7.3 m | 11.4 m | 10.3 m | 19.5 m | 19.7 m | 21.9 m |
| Diluted EPS | 0.34 | 0.14 ≈ | 0.22 | 0.34 | 0.31 | 0.59 ≈ | 0.59 | 0.66 |
| Operating cash flow | 34.8 m ≈ | 35.7 m | 19.0 m | 37.0 m ≈ | 25.3 m ≈ | 46.0 m | 23.9 m | 41.9 m ≈ |
| Capex | 6.0 m | 7.4 m | 6.1 m | 5.4 m | 6.7 m | 5.5 m | 6.7 m | 11.3 m |
| Dividends paid | 2.9 m ≈ | 3.0 m | 3.0 m | 3.0 m ≈ | 3.0 m ≈ | 3.0 m | 3.0 m | 3.9 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 15 percentile of its own 13-quarter history (min 18.0, median 38.4, max 52.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 342.8 m | 508.0 m | 554.7 m | 523.0 m | 885.4 m | 835.6 m | 805.9 m | 839.0 m |
| Revenue YoY | +74.1% | +48.2% | +9.2% | unavailable | +69.3% | −5.6% | −3.6% | unavailable |
| Net income | 31.6 m | 46.7 m | 60.3 m | 14.2 m | 98.4 m | 37.5 m | 39.0 m | 48.4 m |
| Net income YoY | +35.4% | +48.1% | +29.0% | unavailable | +593.0% | −61.9% | +4.0% | unavailable |
| Diluted EPS | unavailable | unavailable | 1.88 | 0.44 | 3.02 | 1.14 | 1.17 | 1.45 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | +586.4% | −62.3% | +2.6% | unavailable |
| net % | 9.2% | 9.2% | 10.9% | 2.7% | 11.1% | 4.5% | 4.8% | 5.8% |
| Free cash flow | 27.2 m | 49.1 m | 65.5 m | 94.0 m | 78.0 m | 49.6 m | 95.1 m | 103.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 03 Jan 2026
- Cash
- 73.0 m USD
- Financial debt
- 261.6 m USD
- Net debt
- 188.6 m USD
- Equity
- 931.5 m USD
- Total assets
- 1.5 bn USD
- Debt / equity
- 0.28x
- Current ratio
- 2.90x
- ROE
- unavailable
- ROA
- 3.2%
- FCF margin
- 12.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 554.7 m | 523.0 m | 885.4 m | 835.6 m | 805.9 m | 839.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Cost of revenue | 342.4 m | 326.8 m | 586.9 m | 573.9 m | 553.6 m | 567.8 m | SEC (XBRL)· 03 Mar 2026verified |
| Gross profit | 212.3 m | 196.2 m | 298.5 m | 261.7 m | 252.3 m | 271.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Research & development | 15.2 m | 15.6 m | 17.4 m | 19.2 m | 20.1 m | 19.1 m | SEC (XBRL)· 03 Mar 2026verified |
| SG&A | 99.7 m | 106.8 m | 133.1 m | 148.9 m | 139.0 m | 147.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Operating income | 90.1 m | 35.4 m | 137.3 m | 79.9 m | 81.8 m | 66.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Depreciation & amortisation | 35.2 m | 39.7 m | 51.6 m | 63.8 m | 63.8 m | 63.0 m | SEC (XBRL)· 03 Mar 2026verified |
| EBITDA | 125.3 m ≈ | 75.1 m ≈ | 188.9 m ≈ | 143.7 m ≈ | 145.6 m ≈ | 129.0 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Pre-tax income | 75.3 m | 24.0 m | 121.8 m | 49.2 m | 50.5 m | 62.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Income tax | 15.0 m | 9.8 m | 23.4 m | 11.7 m | 11.5 m | 14.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Net income | 60.3 m | 14.2 m | 98.4 m | 37.5 m | 39.0 m | 48.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Diluted EPS | 1.88 | 0.44 | 3.02 | 1.14 | 1.17 | 1.45 | SEC (XBRL)· 03 Mar 2026verified |
| Weighted average diluted shares | 32.1 m | 32.2 m | 32.6 m | 33.0 m | 33.3 m | 33.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Dividend per share | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | SEC (XBRL)· 03 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 22.1 m | 25.2 m | 43.7 m | 32.4 m | 44.1 m | 73.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Receivables | 66.7 m | 97.6 m | 125.1 m | 114.8 m | 104.6 m | 116.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Inventories | 85.2 m | 110.4 m | 191.6 m | 215.1 m | 190.1 m | 188.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Current assets | 192.6 m | 254.0 m | 388.5 m | 396.7 m | 384.2 m | 414.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Property, plant & equipment, net | 133.5 m | 146.6 m | 156.5 m | 202.1 m | 193.5 m | 189.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Goodwill | 377.6 m | 443.5 m | 468.5 m | 514.0 m | 498.9 m | 498.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Intangibles (excl. goodwill) | 294.7 m | 419.4 m | 405.6 m | 426.4 m | 384.0 m | 369.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Total assets | 1.0 bn | 1.3 bn | 1.5 bn | 1.6 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 03 Mar 2026verified |
| Accounts payable | 29.7 m | 59.5 m | 73.7 m | 70.3 m | 56.7 m | 75.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Short-term debt | 7.6 m | 16.2 m | 19.0 m | 23.2 m | 16.0 m | 5.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Long-term debt | 84.1 m | 189.9 m | 164.2 m | 298.3 m | 283.2 m | 256.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Current liabilities | 76.5 m | 128.0 m | 152.3 m | 144.9 m | 138.6 m | 143.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Total liabilities | 444.1 m | 689.2 m | 668.8 m | 735.8 m | 641.0 m | 583.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Equity | 577.6 m † | 607.8 m † | 794.9 m † | 854.6 m † | 864.4 m † | 931.5 m † | SEC (XBRL)· 03 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2021 | 2022 | 2023 | 2024 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 90.5 m | 108.6 m | 109.9 m | 83.9 m | 122.1 m | 127.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Capex | 25.0 m | 14.6 m | 31.9 m | 34.3 m | 27.0 m | 23.7 m | SEC (XBRL)· 03 Mar 2026verified |
| Free cash flow | 65.5 m ≈ | 94.0 m ≈ | 78.0 m ≈ | 49.6 m ≈ | 95.1 m ≈ | 103.6 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Investing cash flow | -22.4 m | -235.9 m | -90.8 m | -153.9 m | -30.3 m | 20.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Financing cash flow | -71.7 m | 137.7 m | -6.9 m | 57.9 m | -78.4 m | -121.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Dividends paid | 11.5 m | 11.6 m | 11.7 m | 11.8 m | 11.9 m | 12.0 m | SEC (XBRL)· 03 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 45 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation32
- Returns45
- Quality47
- Balance sheet89
- Growth28
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 49.06 – 73.25 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA49.06 – 73.25 (Mid 52.55)3 companies used · median multiple 12.5x · quartiles 11.8x – 17.1xCR, CXT, MWA
- Peers: P/E64.30 – 70.44 (Mid 67.39)4 companies used · median multiple 31.4x · quartiles 30.0x – 32.8xCR, CXT, PH, WTS
- Dividend discount (DDM)outside the aggregate4.73 – 6.36 (Mid 5.43)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 45/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.2% | 17 (vs peers) | 11% |
| Net margin · Quality | 8.0% | 43 (vs peers) | 7% |
| FCF conversion · Quality | 149.7% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 0.1% | 1 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | 8.3% | 56 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 1.0x | 84 (on a fixed band) | 11% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 31.2x | 40 (vs peers) | 11% |
| EV/EBITDA · Valuation | 15.7x | 0 (on a fixed band) | 11% |
| FCF yield · Valuation | 4.8% | 61 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 0.6% | 8 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 12.1% | 100 (on a fixed band) | 4% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet89/100 · 2/3 factors with a value
- Growth28/100 · 2/2 factors with a value
- Quality47/100 · 3/3 factors with a value
- Returns45/100 · 2/2 factors with a value
- Valuation32/100 · 3/3 factors with a value
Memo
HELIOS TECHNOLOGIES, INC. (HLIO). Latest full fiscal year: 2026; data up to 2026-07-04.
Figures computed from the financial statements: revenue 839.0 m USD in 2026; net margin 8.0%; ROE 7.7%; net debt/EBITDA 1.0x.
The estimated value range is 56.68–71.84 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 59.97 USD, the price of 66.95 USD leaves a potential of -10.4% (value / price − 1) and a margin of safety of -11.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 45/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 149.7%
- Net debt / EBITDA: 1.0x
- Current ratio: 2.7x
- Payout ratio (FCF): 12.1%
What contradicts it
- ROIC: 6.2%
- Revenue CAGR 3Y: 0.1%
- EV/EBITDA: 15.7x
- Shareholder yield (distributions): 0.6%
Not assessed (insufficient data or a ratio without meaning): Interest coverage.
Versus the vertical median
Miscellaneous Fabricated Metal Products (SIC 3490) · same industry (4-digit SIC) · compared with 7 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| PHParker-Hannifin Corporation | 114.7 bn | 32.0 | 25.1% | 17.0% | +8.3% | +6% / +110% |
| CRCrane Company | 11.9 bn | 35.4 | 16.2% | 12.4% | +8.2% | +13% / +95% |
| MWAMueller Water Products, Inc. | 3.8 bn | 17.0 | 21.7% | 15.0% | +8.7% | −1% / +81% |
| CXTCrane Nxt, Co. | 3.5 bn | 27.3 | 10.5% | 7.1% | +11.4% | +9% / +20% |
| HLIOHelios Technologies, Inc. | 2.2 bn | 31.2 | 7.7% | 8.0% | unavailable | +21% / +52% |
| ZKINZk International Group Co., Ltd. | 10.6 m | — | -15.1% | -5.6% | −34.2% | −25% / +77% |
| HIHOHighway Holdings Limited | 3.9 m | — | -27.3% | -31.7% | −35.2% | −26% / −58% |
| WTSWatts Water Technologies Inc | — | 30.9 | 18.8% | 14.3% | +8.3% | +28% / +84% |
1- and 3-year price returns: for HLIO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 38.21 Total return -42% · Per year -42% | 67.71 Total return 2% · Per year 2% | 102.19 Total return 53% · Per year 53% |
| 3 years | 33.90 Total return -48% · Per year -20% | 67.89 Total return 3% · Per year 1% | 112.95 Total return 71% · Per year 20% |
| 5 years | 30.08 Total return -53% · Per year -14% | 68.07 Total return 5% · Per year 1% | 124.85 Total return 91% · Per year 14% |
- Exit P/E± 16.97
- Net margin± 11.88
- Annual revenue growth± 10.18
- Annual dilution± 1.00
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Helios Technologies (HLIO) designs and makes hydraulic motion control and electronic controls for markets such as construction, agriculture, material handling and health and wellness. The company reported growing sales for the second quarter of 2026, and fiscal 2025 net sales were 839.0 million USD 13.
SWOT
Strengths
- The company holds a leading position in motion control and electronic controls, with proprietary products and a broad customer base across several industries 1.
- Debt has been cut substantially and the company generates strong operating cash flow, giving it financial flexibility 3.
- Investment in innovation, with a large engineering team, supports new product launches and expansion into adjacent markets 1.
Weaknesses
Opportunities
- Trends in automation, electrification and energy efficiency could create new demand for the company's products 1.
- Acquisitions of complementary technologies, for which the company says it has liquidity, could broaden the portfolio 1.
- Growth in Electronics, including in wellness and data centers, could support margins over the medium term 3.
Risks
- Economic cycleshigh
A drop in investment in capital equipment could reduce orders across all segments 1.
- Tariffs and international tradehigh
Changes in trade policy could raise import costs and limit access to foreign markets 12.
- Supply chainmedium
Disruptions in component deliveries or swings in raw material prices could affect production 1.
- Debt and financingmedium
If capital needs rise, the company could need financing on unfavorable terms 1.
- Executive changeslow
Repeated transitions in leadership roles could affect execution of the strategy 1.
Investment thesis
What would need to be true (bull case)
- Pro-forma sales growth and improved margins in the second quarter of 2026 suggest the execution strategy is delivering results 3.
- Lower debt and strong cash flow give room for investment and dividends 3.
- If automation and electrification trends persist, the product portfolio could benefit over the long term 1.
What would break the thesis
What to watch
- Delivery against the 2026 sales outlook of 880 to 900 million USD2026
- Developments in tariffs and IEEPA refundsQ3 2026
- Hydraulic industry indicators in Europe and the U.S.next 10-K
- Completion of production optimization in Toledo and TijuanaQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Helios Technologies, Inc. presents itself as a global leader in motion control and electronic controls technology, with two segments: Hydraulics, which includes cartridge valves, manifolds and quick release couplings, and Electronics, which includes customized control systems, displays and software solutions 1. For fiscal 2025, net sales were 839.0 million USD, and the Hydraulics segment generated 64% of sales 1. The company says innovation is central, with over 300 engineers supporting product development, and it targets automation, electrification and energy efficiency 1.
The acquisition strategy aims to add niche technologies and broaden geographic reach, following the Schultes and i3PD acquisitions in 2023 1. No acquisitions were executed in 2024 or 2025, and in September 2025 the company sold Guwing and its subsidiary Custom Fluidpower in Asia-Pacific 1. Helios says it reduced debt over the last three years and has enough liquidity for future acquisitions 1.
Regional manufacturing centers in North America, Europe and Asia are part of the operating model, meant to shorten lead times and reduce supply chain risk 1. The company has about 150 direct sales and application specialists, and in 2025 no single customer accounted for 10% or more of consolidated sales 1.
Segments
Hydraulics
The Hydraulics segment makes cartridge valves, manifolds and quick release couplings under brands such as Sun Hydraulics, Faster and NEM 1. It represented 64% of Helios sales in 2025, spread fairly evenly across the Americas, EMEA and APAC 1. In the second quarter of 2026, segment sales grew and gross margin reached 34.6% 3.
Electronics
The Electronics segment designs customized electronic controls, displays and wire harnesses under brands such as Enovation Controls, Murphy and Balboa Water Group 1. In the second quarter of 2026 it was the faster-growing segment, with higher sales than the prior year and a gross margin of 34.6% 3.
Corporate
Corporate costs and those related to acquisitions or divestitures are reported separately from the two segments, in line with U.S. GAAP 1.
Market context
The company serves markets with clear economic cycles, such as construction, agriculture and industry, where demand for capital goods can fall in downturns 1. The National Fluid Power Association reported that the U.S. index of hydraulic shipments rose 3% in the first half of 2026, while orders rose 18% over the same period 2. In Europe, by contrast, the agricultural machinery sector has slipped back into recession according to CEMA 2.
In electronics, industry output grew through 2025, and Helios sees demand for its products as still solid 13. The company says it could benefit from automation and electrification trends if these continue 1.
Trends
- Tariffs and IEEPA refundsmixed
Tariffs imposed in 2025 raised costs, but in the second quarter of 2026 the company received IEEPA tariff refunds that improved gross margin 12. Uncertainty in trade policy remains high, and the effect could vary from quarter to quarter 2.
- Electrification and automationtailwind
The company sees electrification and automation as long-term growth drivers, especially for its Electronics products and electronically controlled hydraulic systems 1.
- European slowdownheadwind
Declines in European agricultural indicators could reduce orders in Europe if the trend continues 2.
- Demand recovery in Electronicstailwind
Demand for printed circuit boards and EMS services rose in 2025, supporting the Electronics segment 1.
Competitive position
Helios says it faces intense competition, including from firms with similar products and from local suppliers in regions such as Asia 1. It differentiates through proprietary technology, such as the floating nose design of Sun valves, and through integrated solutions 1.
In Electronics, competition comes from makers of controls and displays for mobile and industrial equipment, and Helios supports its position through customization and OEM support 1.
- Makers of hydraulic valves and fluid components named in risk disclosures
The sources describe intense competition in Hydraulics without naming specific listed competitors 1.
- Makers of electronic controls and displays for mobile equipment
The company cites competition in electronic controls without naming specific firms in the sources 1.
- Regional suppliers in Asia
Local competition in regions such as Asia is mentioned in general terms in the risk factors 1.
- Producers of health and wellness control systems
The wellness business faces competition, but the sources do not identify particular firms 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Helios, Mavericks’ Ujiri Back $294 Million Sports Arena in KenyaBloomberg Markets · 18 Sept 2026 · EN
- Helios Technologies (HLIO) Turns One Motorcycle Deal Into A Bigger BetYahoo Finance — News · 16 Sept 2026 · EN
- Advanced Micro Devices Sees AI Boom Fueling MI450, Helios and Server CPU GrowthYahoo Finance — News · 08 Sept 2026 · EN
- Helios Technologies (HLIO) Drives Its Electronics Growth Story Off-RoadYahoo Finance — News · 03 Sept 2026 · EN
- AMD Updates UALink Patches To Get The Linux Kernel Ready For UALoE On HeliosPhoronix · 31 Aug 2026 · EN
- AMD attacks the rack with Helios systems that rival Nvidia'sThe Register · 23 Jul 2026 · RO
- AMD launches Helios, its first rack AI system to rival Nvidia, adding Microsoft as newest buyerCNBC World · 20 Jul 2026 · EN
- Show HN: Helios – what plug-in solar could generate for any address in BritainHacker News · 30 May 2026 · EN
The latest news item in our archive is from 18 Sept 2026; the newest SEC filing is from 29 Sept 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report29 Sept 2026Other events · Financial statements and exhibits
- Quarterly report11 Aug 2026
- Current report10 Aug 2026Results of operations · Financial statements and exhibits
- Current report17 Jun 2026Other events · Financial statements and exhibits
- Current report15 Jun 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report12 May 2026
- Current report11 May 2026Results of operations · Financial statements and exhibits
- Proxy statement04 May 2026
- Current report20 Mar 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Annual report03 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-01-03 · SEC / Helios Technologies, Inc. · 03 Mar 2026
- [2] Form 10-Q, quarter ended 2026-07-04 · SEC / Helios Technologies, Inc. · 11 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Helios Technologies, Inc. · 10 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.