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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 | -12.2% | -12.5% | -142.2% |
| 2024 | $4.3B | $300M | $142M | $123M | 28.8% | 4.6% | 13.0% |
| 2023 | $4.1B | $263M | $126M | $115M | 30.9% | 16.1% | - |
| 2022 | $3.5B | $9M | $-74M | $12M | -32.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,548.30 | 4,118.30 | 4,308.20 | 3,769.30 |
| 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 |
| Operating Income | -39.10 | 208.70 | 267.40 | 16.30 |
| EBITDA | 9.40 | 263.40 | 300.40 | 34.10 |
| EBIT | -34 | 218.30 | 252.80 | -11.70 |
| Pretax Income | -62.40 | 181 | 219 | -42.90 |
| Tax Provision | 9.20 | 52.90 | 74.80 | 15.10 |
| Net Income | -74.10 | 125.90 | 142.30 | -60.10 |
| Net Income Common Stockholders | -74.10 | 125.90 | 142.30 | -60.10 |
| Total Expenses | 3,587.40 | 3,909.60 | 4,040.80 | 3,753 |
| Interest Expense | 28.40 | 37.30 | 33.80 | 31.20 |
| Selling General And Administration | 473 | 576.90 | 628.10 | 616.50 |
| Normalized EBITDA | 9.40 | 263.40 | 323 | 72.50 |
| Normalized Income | -74.10 | 125.90 | 157.17 | -29.76 |
| Basic EPS | -4.38 | 7.35 | 8.16 | -3.40 |
| Diluted EPS | -4.38 | 7.24 | 8.04 | -3.40 |
| Tax Effect Of Unusual Items | 0 | 0 | -7.73 | -8.06 |
| Tax Rate For Calcs | 0.21 | 0.29 | 0.34 | 0.21 |
| Total Unusual Items | 0 | 0 | -22.60 | -38.40 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -22.60 | -38.40 |
| Net Income From Continuing Operation Net Minority Interest | -74.10 | 125.90 | 142.30 | -60.10 |
| 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 |
| Net Interest Income | -28.40 | -37.30 | -33.80 | -31.20 |
| Net Income From Continuing And Discontinued Operation | -74.10 | 125.90 | 142.30 | -60.10 |
| Total Operating Income As Reported | -39.10 | 208.70 | 244.80 | -22.10 |
| Diluted Average Shares | 16.90 | 17.39 | 17.71 | 17.67 |
| Basic Average Shares | 16.90 | 17.14 | 17.44 | 17.67 |
| Diluted NI Availto Com Stockholders | -74.10 | 125.90 | 142.30 | -60.10 |
| Minority Interests | -2.50 | -2.20 | -1.90 | -2.10 |
| Net Income Including Noncontrolling Interests | -71.60 | 128.10 | 144.20 | -58 |
| Net Income Continuous Operations | -71.60 | 128.10 | 144.20 | -58 |
| Other Income Expense | 5.10 | 9.60 | -14.60 | -28 |
| Other Non Operating Income Expenses | -5.90 | -0.20 | 2.50 | 0 |
| Special Income Charges | 0 | 0 | -22.60 | -38.40 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 22.60 | 38.40 |
| Earnings From Equity Interest | 11 | 9.80 | 5.50 | 10.40 |
| Net Non Operating Interest Income Expense | -28.40 | -37.30 | -33.80 | -31.20 |
| Interest Expense Non Operating | 28.40 | 37.30 | 33.80 | 31.20 |
| Operating Revenue | 3,239.80 | 3,807 | 3,952.80 | 3,385.20 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Hyster-Yale, Inc.this co. | HY | $686M | - | 1.44 | -12.2% | 20.87 |
| Cardinal Infrastructure Group Inc. | CDNL | $701M | 30.18 | 11.73 | 16.3% | 10.97 |
| Transcat, Inc. | TRNS | $695M | 87.59 | 2.34 | 5.1% | 19.97 |
| Smith & Wesson Brands, Inc. | SWBI | $686M | 64.21 | 1.89 | 3.6% | 14.41 |
| Sturm, Ruger & Company, Inc. | RGR | $684M | - |
| 2.41 |
| -1.5% |
| 51.26 |
| Latham Group, Inc. | SWIM | $683M | 64.89 | 1.68 | 2.7% | 11.15 |
| Serve Robotics Inc. | SERV | $680M | - | 1.92 | -28.9% | -4.28 |
| Safe Bulkers, Inc. | SB | $675M | 22.00 | 0.81 | 4.6% | 8.44 |
| FTAI Infrastructure Inc. | FIP | $670M | - | 30.98 | -1673.3% | 32.46 |
| Peer Median | - | 64.21 | 2.13 | 3.2% | 12.78 | |