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Hyster-Yale, Inc., through its subsidiaries, provides lift trucks, attachments, parts, fleet management services, and technology and energy solutions worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster, Yale, and Nuvera brands to independent Hyster and Yale retail dealerships. The company also offers lift truck attachments, forks, masts, and lift tables under the Bolzoni, Auramo, and Meyer brands, as well as parts under the UNISOURCE brand. In addition, it designs and produces specialized products in the port equipment and rough terrain forklift markets. The company was formerly known as Hyster-Yale Materials Handling, Inc. and changed its name to Hyster-Yale, Inc. in June 2024. Hyster-Yale, Inc. was incorporated in 1991 and is headquartered in Cleveland, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.8B | $34M | $-60M | $24M | -12.7% | -12.5% | -142.2% |
| 2024 | $4.3B | $300M | $142M | $123M | 30.0% | 4.6% | 13.0% |
| 2023 | $4.1B | $263M | $126M | $115M | 32.3% | 16.1% | -269.9% |
| 2022 | $3.5B | $9M | $-74M | $12M | -36.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,548.30 | 4,118.30 | 4,308.20 | 3,769.30 |
| Operating Revenue | - | 3,239.80 | 3,807 | 3,952.80 | 3,385.20 |
| Cost Of Revenue | - | 3,114.40 | 3,332.70 | 3,412.70 | 3,136.50 |
| Gross Profit | - | 433.90 | 785.60 | 895.50 | 632.80 |
| Operating Expense | - | 473 | 576.90 | 628.10 | 616.50 |
| Selling General And Administration | - | 473 | 576.90 | 628.10 | 616.50 |
| Total Expenses | - | 3,587.40 | 3,909.60 | 4,040.80 | 3,753 |
| Operating Income | - | -39.10 | 208.70 | 267.40 | 16.30 |
| Total Operating Income As Reported | - | -39.10 | 208.70 | 244.80 | -22.10 |
| EBITDA | - | 9.40 | 263.40 | 300.40 | 34.10 |
| Normalized EBITDA | - | 9.40 | 263.40 | 323 | 72.50 |
| EBIT | - | -34 | 218.30 | 252.80 | -11.70 |
| Interest Expense | - | 28.40 | 37.30 | 33.80 | 31.20 |
| Net Interest Income | - | -28.40 | -37.30 | -33.80 | -31.20 |
| Other Non Operating Income Expenses | 1.20 | -5.90 | -0.20 | 2.50 | - |
| Other Income Expense | - | 5.10 | 9.60 | -14.60 | -28 |
| Interest Expense Non Operating | - | 28.40 | 37.30 | 33.80 | 31.20 |
| Net Non Operating Interest Income Expense | - | -28.40 | -37.30 | -33.80 | -31.20 |
| Pretax Income | - | -62.40 | 181 | 219 | -42.90 |
| Tax Provision | - | 9.20 | 52.90 | 74.80 | 15.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -7.73 | -8.06 |
| Net Income Continuous Operations | - | -71.60 | 128.10 | 144.20 | -58 |
| Net Income From Continuing And Discontinued Operation | - | -74.10 | 125.90 | 142.30 | -60.10 |
| Net Income From Continuing Operation Net Minority Interest | - | -74.10 | 125.90 | 142.30 | -60.10 |
| Net Income | - | -74.10 | 125.90 | 142.30 | -60.10 |
| Net Income Common Stockholders | - | -74.10 | 125.90 | 142.30 | -60.10 |
| Net Income Including Noncontrolling Interests | - | -71.60 | 128.10 | 144.20 | -58 |
| Normalized Income | - | -74.10 | 125.90 | 157.17 | -29.76 |
| Diluted NI Availto Com Stockholders | - | -74.10 | 125.90 | 142.30 | -60.10 |
| Basic Average Shares | - | 16.90 | 17.14 | 17.44 | 17.67 |
| Diluted Average Shares | - | 16.90 | 17.39 | 17.71 | 17.67 |
| Reconciled Depreciation | - | 43.40 | 45.10 | 47.60 | 45.80 |
| Reconciled Cost Of Revenue | - | 3,114.40 | 3,332.70 | 3,412.70 | 3,136.50 |
| Total Unusual Items | - | 0 | 0 | -22.60 | -38.40 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -22.60 | -38.40 |
| Minority Interests | - | -2.50 | -2.20 | -1.90 | -2.10 |
| Special Income Charges | - | 0 | 0 | -22.60 | -38.40 |
| Impairment Of Capital Assets | 65.60 | 0 | 0 | - | - |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 22.60 | 38.40 |
| Earnings From Equity Interest | - | 11 | 9.80 | 5.50 | 10.40 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Hyster-Yale, Inc.this co. | HY | $645M | -10.74 | 1.37 | -12.7% | 34.14 |
| Himalaya Shipping Ltd. | HSHP | $677M | 38.28 | 4.19 | 10.9% | 13.57 |
| Smith & Wesson Brands, Inc. | SWBI | $675M | 50.28 | 1.81 | 3.6% | 13.72 |
| Safe Bulkers, Inc. | SB | $652M | 16.90 | 0.78 | 4.6% | 8.16 |
| Ardmore Shipping Corporation | ASC | $652M | 15.89 |
| - |
| - |
| - |
| - |
| - |
| 1.03 |
| 6.5% |
| 9.11 |
| Latham Group, Inc. | SWIM | $639M | 57.42 | 1.57 | 2.7% | 9.70 |
| Kimball Electronics, Inc. | KE | $634M | 37.31 | 1.11 | 3.0% | 8.87 |
| Sturm, Ruger & Company, Inc. | RGR | $628M | - | 2.21 | -1.5% | 33.97 |
| Richtech Robotics Inc. | RR | $610M | -38.75 | 2.26 | -5.8% | -31.05 |
| Peer Median | - | 37.31 | 1.69 | 3.3% | 9.40 | |