olivLaw · US equity research
Hyster-Yale, Inc. HY
Industrial Trucks, Tractors, Trailors & Stackers · SIC 3537 · Vertical: Industrial machinery and computer equipment (SIC 353x)
Hyster-Yale designs, manufactures and services lift trucks under the Hyster, Yale and Nuvera brands, plus attachments through Bolzoni, sold mainly through independent dealers. The company is passing through a demand downturn: revenues fell 12.5% in fiscal 2025 and 15.0% in Q2 2026, while bookings rose for a fourth consecutive quarter.
At the close of 04 Nov 2026, Hyster-Yale, Inc. (HY) stock was 30.02 USD (+2.70% on the day), with market capitalisation 0 USD, dividend yield 4.81%, beta 1.18, 52-week range 26.49–40.47 USD. Latest reported quarter (Q2 2026): revenue of 812.9 m USD (−15.0% YoY), net income of -31.6 m USD, diluted EPS -1.76 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)
- 48.3
- neutral
- Bollinger (20, 2)
- 27.27 – 32.45
- in the upper half of the band · %B 0.53 · band width 17.3%
- SMA 50 / 200
- 31.80 / 34.31
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.74 / -0.88
- 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 | −6.0% | −1.1% | −4.9 pp | — |
| 3 months | −25.8% | −0.5% | −25.4 pp | — |
| 6 months | −18.6% | +4.4% | −23.0 pp | — |
| Year to date | +1.0% | +12.3% | −11.3 pp | — |
| 1 year | −13.1% | +13.5% | −26.7 pp | +15.0% |
| 3 years | −31.3% | +76.4% | −107.7 pp | +26.4% |
| 5 years | −32.0% | +63.7% | −95.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.1 bn | 910.4 m | 956.6 m | 979.1 m | 923.2 m | 795.2 m | 812.9 m |
| Cost of revenue | 823.2 m | 859.9 m | 732.7 m | 788.4 m | 823.2 m | 792.2 m | 670.4 m | 685.3 m |
| Gross profit | 192.9 m | 207.6 m | 177.7 m | 168.2 m | 155.9 m | 131.0 m | 124.8 m | 127.6 m |
| SG&A | 158.6 m | 153.9 m | 156.2 m | 161.0 m | 152.6 m | 146.7 m | 151.2 m | 144.3 m |
| Operating income | 33.1 m | 32.3 m | 21.3 m | -8.5 m | 2.3 m | -37.2 m | -28.0 m | -18.4 m |
| Depreciation & amortisation | 11.7 m | 11.8 m | 11.0 m | 11.8 m | 11.3 m | 11.7 m | 11.3 m | 10.9 m |
| Interest expense | 8.4 m | 7.7 m | 7.7 m | 7.9 m | 8.0 m | 7.6 m | 7.2 m | 7.8 m |
| Pre-tax income | 28.1 m | 24.0 m | 16.8 m | -13.2 m | -4.6 m | -41.9 m | -32.1 m | -23.2 m |
| Income tax | 10.3 m | 13.3 m | 8.1 m | 200.0 k | -2.9 m | 9.7 m | -1.8 m | 8.1 m |
| Net income | 17.2 m | 10.3 m | 8.6 m | -13.9 m | -2.3 m | -52.5 m | -30.5 m | -31.6 m |
| Diluted EPS | 0.97 | 0.58 ≈ | 0.48 | -0.79 | -0.13 | -2.96 ≈ | -1.71 | -1.76 |
| Operating cash flow | 70.1 m ≈ | 80.7 m | -36.4 m | 28.9 m ≈ | 37.1 m ≈ | 56.5 m | -32.9 m | 16.7 m ≈ |
| Capex | 10.2 m ≈ | 17.9 m | 10.6 m | 13.8 m ≈ | 14.5 m ≈ | 23.6 m | 9.8 m | 14.7 m ≈ |
| Dividends paid | 6.1 m ≈ | 6.1 m | 6.2 m | 6.4 m ≈ | 6.3 m ≈ | 6.5 m | 6.4 m | 6.6 m ≈ |
| Share repurchases | 0 ≈ | -23.1 m | 4.5 m | -100.0 k ≈ | 100.0 k ≈ | -9.0 m | 700.0 k | 0 ≈ |
≈ 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.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.2 bn | 3.3 bn | 2.8 bn | 3.1 bn | 3.5 bn | 4.1 bn | 4.3 bn | 3.8 bn |
| Revenue YoY | +10.2% | +3.5% | −14.6% | +9.4% | +15.4% | +16.1% | +4.6% | −12.5% |
| Net income | 34.7 m | 35.8 m | 37.1 m | -173.0 m | -74.1 m | 125.9 m | 142.3 m | -60.1 m |
| Net income YoY | −28.6% | +3.2% | +3.6% | −566.3% | unavailable | unavailable | +13.0% | −142.2% |
| Diluted EPS | 2.09 | 2.14 | 2.21 | -10.29 | -4.38 | 7.24 | 8.04 | -3.40 |
| Diluted EPS YoY | −28.9% | +2.4% | +3.3% | −565.6% | unavailable | unavailable | +11.0% | −142.3% |
| net % | 1.1% | 1.1% | 1.3% | -5.6% | -2.1% | 3.1% | 3.3% | -1.6% |
| Free cash flow | 28.8 m | 27.0 m | 115.2 m | -297.8 m | 11.8 m | 115.3 m | 122.9 m | 23.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 123.2 m USD
- Financial debt
- 715.8 m USD
- Net debt
- 592.6 m USD
- Equity
- 476.3 m USD
- Total assets
- 2.0 bn USD
- Debt / equity
- 1.50x
- Current ratio
- 1.34x
- ROE
- -12.6%
- ROA
- -3.0%
- FCF margin
- 0.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.8 bn | 3.1 bn | 3.5 bn | 4.1 bn | 4.3 bn | 3.8 bn | SEC (XBRL)· 03 Mar 2026verified |
| Cost of revenue | 2.3 bn | 2.7 bn | 3.1 bn | 3.3 bn | 3.4 bn | 3.1 bn | SEC (XBRL)· 03 Mar 2026verified |
| Gross profit | 465.4 m | 363.4 m | 433.9 m | 785.6 m | 895.5 m | 632.8 m | SEC (XBRL)· 03 Mar 2026verified |
| Research & development | 100.5 m | 108.3 m | 100.7 m | 119.7 m | 135.9 m | 137.2 m | SEC (XBRL)· 03 Mar 2026verified |
| SG&A | 415.5 m | 450.1 m | 473.0 m | 576.9 m | 628.1 m | 616.5 m | SEC (XBRL)· 03 Mar 2026verified |
| Operating income | 49.9 m | -152.3 m | -39.1 m | 208.7 m | 244.8 m | -22.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Depreciation & amortisation | 42.9 m | 46.2 m | 43.4 m | 45.1 m | 47.6 m | 45.8 m | SEC (XBRL)· 03 Mar 2026verified |
| EBITDA | 92.8 m ≈ | -106.1 m ≈ | 4.3 m ≈ | 253.8 m ≈ | 292.4 m ≈ | 23.7 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Interest expense | 13.7 m | 15.5 m | 28.4 m | 37.3 m | 33.8 m | 31.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Pre-tax income | 42.2 m | -154.9 m | -62.4 m | 181.0 m | 219.0 m | -42.9 m | SEC (XBRL)· 03 Mar 2026verified |
| Income tax | 3.7 m | 28.3 m | 9.2 m | 52.9 m | 74.8 m | 15.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Net income | 37.1 m | -173.0 m | -74.1 m | 125.9 m | 142.3 m | -60.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Diluted EPS | 2.21 | -10.29 | -4.38 | 7.24 | 8.04 | -3.40 | SEC (XBRL)· 03 Mar 2026verified |
| Weighted average diluted shares | 16.8 m | 16.8 m | 16.9 m | 17.4 m | 17.7 m | 17.7 m | SEC (XBRL)· 03 Mar 2026verified |
| Dividend per share | 1.27 | 1.29 | 1.29 | 1.30 | 1.38 | 1.43 | SEC (XBRL)· 03 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 151.4 m | 65.5 m | 59.0 m | 78.8 m | 96.6 m | 123.2 m | SEC (XBRL)· 03 Mar 2026verified |
| Receivables | 412.1 m | 457.4 m | 523.6 m | 497.5 m | 488.4 m | 489.6 m | SEC (XBRL)· 03 Mar 2026verified |
| Inventories | 509.4 m | 781.0 m | 799.5 m | 815.7 m | 754.3 m | 634.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Current assets | 1.1 bn | 1.4 bn | 1.5 bn | 1.5 bn | 1.4 bn | 1.3 bn | SEC (XBRL)· 03 Mar 2026verified |
| Property, plant & equipment, net | 340.4 m | 330.5 m | 310.0 m | 313.9 m | 306.7 m | 329.0 m | SEC (XBRL)· 03 Mar 2026verified |
| Goodwill | 114.7 m | 56.5 m | 51.3 m | 53.3 m | 54.6 m | 55.7 m | SEC (XBRL)· 03 Mar 2026verified |
| Intangibles (excl. goodwill) | 58.5 m | 50.7 m | 42.7 m | 39.3 m | 33.1 m | 32.3 m | SEC (XBRL)· 03 Mar 2026verified |
| Total assets | 1.9 bn | 2.0 bn | 2.0 bn | 2.1 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 03 Mar 2026verified |
| Accounts payable | 412.0 m | 517.0 m | 585.8 m | 523.5 m | 447.8 m | 396.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Short-term debt | 83.1 m | 256.8 m | 285.9 m | 252.7 m | 198.8 m | 242.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Long-term debt | 206.1 m | 261.7 m | 267.0 m | 241.3 m | 241.9 m | 473.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Current liabilities | 755.9 m | 1.1 bn | 1.3 bn | 1.2 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 03 Mar 2026verified |
| Total liabilities | 1.2 bn | 1.6 bn | 1.8 bn | 1.7 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 03 Mar 2026verified |
| Equity | 651.1 m | 382.9 m | 210.9 m | 392.0 m | 479.2 m | 476.3 m | SEC (XBRL)· 03 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 166.9 m | -253.5 m | 40.6 m | 150.7 m | 170.7 m | 86.1 m | SEC (XBRL)· 03 Mar 2026verified |
| Capex | 51.7 m | 44.3 m | 28.8 m | 35.4 m | 47.8 m | 62.5 m | SEC (XBRL)· 03 Mar 2026verified |
| Free cash flow | 115.2 m ≈ | -297.8 m ≈ | 11.8 m ≈ | 115.3 m ≈ | 122.9 m ≈ | 23.6 m ≈ | SEC (XBRL)· 03 Mar 2026derived |
| Investing cash flow | -43.7 m | -24.5 m | -35.4 m | -34.5 m | -47.6 m | -62.7 m | SEC (XBRL)· 03 Mar 2026verified |
| Financing cash flow | -40.6 m | 193.6 m | -10.9 m | -100.5 m | -100.1 m | -800.0 k | SEC (XBRL)· 03 Mar 2026verified |
| Dividends paid | 21.3 m | 21.6 m | 21.8 m | 22.3 m | 24.0 m | 25.4 m | SEC (XBRL)· 03 Mar 2026verified |
| Share repurchases | — | — | 0 | 0 | -14.0 m | -4.5 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 weight coverage: 39.6% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 0 USD
Key indicators
Coverage and freshness
Score by group
40% · Insufficient data
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: 18.79 – 25.27 USD.
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 · insufficient data
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)18.79 – 25.27 (Mid 21.56)
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
Insufficient data
Minimum-evidence gate: score weight coverage: 39.6% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -6.8% | 15 (vs peers) | 26% |
| Net margin · Quality | -3.3% | 15 (vs peers) | 16% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 2.0% | 17 (on a fixed band) | 21% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -2.7x | 0 (on a fixed band) | 16% |
| Current ratio · Balance sheet | 1.3x | 40 (on a fixed band) | 11% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 174.3% | 0 (on a fixed band) | 11% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet16/100 · 2/3 factors with a value
- Growth· partial17/100 · 1/2 factors with a value
- Quality15/100 · 2/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HYSTER-YALE, INC. (HY). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 3.8 bn USD in 2025; YoY growth -12.5%; net margin -3.3%; ROE -25.0%.
The estimated value range is 18.79–25.27 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 21.56 USD, the price of 30.02 USD leaves a potential of -28.2% (value / price − 1) and a margin of safety of -39.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 39.6% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -6.8%
- Net margin: -3.3%
- Revenue CAGR 3Y: 2.0%
- Interest coverage: -2.7x
- Payout ratio (FCF): 174.3%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Industrial machinery and computer equipment (SIC 353x) · same industry group (3-digit SIC) · compared with 27 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 | |
|---|---|---|---|---|---|---|
| CATCaterpillar Inc | 270.6 bn | 23.2 | 56.1% | 15.2% | +4.3% | +3% / +136% |
| BKRBaker Hughes Company | 49.5 bn | 17.1 | 15.1% | 10.1% | −0.3% | −1% / +48% |
| DOVDOVER Corp | 28.3 bn | 24.8 | 15.2% | 13.6% | +4.5% | +15% / +51% |
| FTITechnipFMC plc | 25.1 bn | 20.3 | 38.6% | 12.0% | +9.4% | +43% / +211% |
| CNHCnh Industrial N.V. | 14.5 bn | 47.0 | 4.0% | 1.7% | −8.8% | +24% / +9% |
| TEXTerex Corporation | 6.5 bn | 29.0 | 5.7% | 2.6% | +5.7% | +25% / +16% |
| NOVNov Inc. | 6.4 bn | 45.2 | 2.3% | 1.6% | −1.4% | +17% / −4% |
| WFRDWeatherford International plc | 6.2 bn | 15.3 | 23.0% | 8.6% | −10.8% | +15% / −5% |
| WHDCactus, Inc. | 4.3 bn | 23.6 | 14.7% | 12.0% | −4.5% | +35% / +37% |
| DNOWDnow Inc. | 2.8 bn | — | -12.4% | -4.9% | +18.8% | +10% / +54% |
| INVXInnovex International, Inc. | 1.8 bn | 37.1 | 4.5% | 4.8% | +48.0% | +16% / +15% |
| ASTEAstec Industries, Inc. | 904.9 m | 46.4 | 2.9% | 1.3% | +8.1% | −11% / +26% |
| AEBIAebi Schmidt Holding AG | 902.5 m | 41.0 | 3.6% | 1.1% | +40.6% | −2% / unavailable |
| PLOWDouglas Dynamics, Inc | 879.7 m | 13.8 | 22.2% | 8.7% | +15.4% | +18% / +40% |
| FETForum Energy Technologies, Inc. | 845.3 m | 28.8 | 9.8% | 3.5% | −3.1% | +135% / +238% |
| MTWThe Manitowoc Company, Inc. | 837.7 m | 32.6 | 3.8% | 1.1% | +2.9% | +106% / +62% |
| CMCOColumbus McKinnon Corporation | 537.7 m | — | -30.8% | -19.6% | +23.9% | +13% / −47% |
| OISOil States International, Inc | 510.2 m | — | -16.8% | -16.5% | −3.4% | +35% / +24% |
| OMSEOMS Energy Technologies Inc. | 167.2 m | 3.3 | 43.5% | 22.0% | unavailable | −16% / unavailable |
| LSELeishen Energy Holding Co., Ltd. | 75.4 m | 55.4 | 2.9% | 2.6% | −30.0% | −14% / unavailable |
| DTIDrilling Tools International Corporation | 52.9 m | — | -2.5% | -2.0% | +3.4% | −38% / −56% |
| STAKSTAK Inc. | 27.5 m | 71.5 | 2.9% | 1.5% | +13.2% | +202% / unavailable |
| GPUSHyperscale Data, Inc. | 247.1 k | — | -159.8% | -71.0% | −4.3% | −89% / −100% |
| GENCGencor Industries, Inc. | — | — | 6.9% | 13.5% | +2.0% | +31% / +17% |
| HYHyster-Yale, Inc. | — | — | -25.0% | -3.3% | −12.5% | −13% / −31% |
1- and 3-year price returns: for HY 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 | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
| 3 years | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
| 5 years | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable | input data missing Total return unavailable · Per year unavailable |
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
Hyster-Yale designs, manufactures and services lift trucks under the Hyster, Yale and Nuvera brands, plus attachments through Bolzoni, sold mainly through independent dealers. The company is passing through a demand downturn: revenues fell 12.5% in fiscal 2025 1 and 15.0% in Q2 2026 2, while bookings rose for a fourth consecutive quarter.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Tariffs and trade policyhigh
Tariffs and trade policy changes can raise costs and reduce demand, and refunds may take a long time 1.
- Cyclical demandhigh
Demand depends on customer capital spending and economic activity, and delayed orders can hit revenue 1.
- Supplier dependencemedium
Critical components come from a limited number of suppliers, and disruptions can reduce production 1.
- Liquidity and debtmedium
If cash flow declines, the company could be forced to cut production or investment 12.
- Product defectslow
Design or manufacturing defects can lead to claims, recalls and reputational harm 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Bookings and backlog trendQ3 2026
- Effect of IEEPA tariff recoveries on profit2026
- Delivery of the 40-45 mil USD annualized restructuring benefit2026
- Net debt level and ratio to adjusted EBITDAnext 10-Q
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
Hyster-Yale, Inc. is a global company headquartered in Cleveland, Ohio, that designs, manufactures and services a full line of lift trucks, attachments, parts, fleet management services and technology and energy solutions 1. Its main brands are Hyster, Yale and Nuvera, sold mainly through independent dealers in 111 countries 1. Bolzoni S.p.A. produces precision lift truck attachments 1.
Segments
Market context
Trends
- US tariffsmixed
Tariffs raised material costs, and the company incurred about 100 mil USD of tariff-related costs in 2025 1. In February 2026 the US Supreme Court ruled IEEPA tariffs unauthorized, and the company recognized recoveries in Q2 2026 12. The final impact remains uncertain.
- Shift to lower-intensity productsmixed
Customers are moving toward lighter, lower-priced models, which reduces revenue from traditional models, though the new products have gained acceptance 2.
- Expected second-half demand recoverytailwind
Rising bookings and a backlog of about five months of production could support a recovery in the second half of 2026 2.
- Cost and liquidity pressureheadwind
Material costs, supply chains and high debt could limit financial flexibility, especially if profitability stays weak 12.
Competitive position
Hyster-Yale competes with several global lift truck manufacturers and niche companies, on dealer strength, brand loyalty, service, price and cost of ownership 1. Competition also comes from automated warehouse systems and alternative power suppliers 1. Bolzoni faces a few global attachment manufacturers 1.
- Global lift truck manufacturers
Competitors active in all major markets that may have lower manufacturing costs or greater financial resources 1.
- Niche companies
Smaller players competing in specialized lift truck and attachment segments 1.
- Global attachment manufacturers
A few global producers of lift truck attachments active in all major markets 1.
- Automated storage system providers
Automated warehouses, conveyor systems and guided vehicles that compete with lift trucks 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
- Hyster-Yale’s (HY) Bookings Boom Meets A Widening LossYahoo Finance — News · 08 Sept 2026 · EN
The latest news item in our archive is from 08 Sept 2026; the newest SEC filing is from 15 Oct 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 report15 Oct 2026Departure or appointment of officers
- Current report06 Aug 2026Departure or appointment of officers
- Current report05 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report04 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report14 May 2026Shareholder vote
- Current report06 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report05 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 May 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Hyster-Yale, Inc. · 03 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Hyster-Yale, Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Hyster-Yale, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.