Tearsheet

Hyster Yale (HY)

Market Price (2/16/2026): $39.32 | Market Cap: $696.6 Mil
Sector: Industrials | Industry: Agricultural & Farm Machinery

Hyster Yale (HY)

Market Price (2/16/2026): $39.32
Market Cap: $696.6 Mil
Sector: Industrials
Industry: Agricultural & Farm Machinery

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Dividend Yield is 3.6%, FCF Yield is 7.7%	Weak multi-year price returns 2Y Excs Rtn is -75%, 3Y Excs Rtn is -29%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 57%
1	Low stock price volatility Vol 12M is 46%		Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 259x
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, E-commerce Logistics & Data Centers, and Hydrogen Economy. Themes include Process / Warehouse Automation, Show more.		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg QQuarterly Revenue Change % is -3.6%
3			Key risks HY key risks include [1] significant financial impact from persistent tariff costs and [2] intense margin pressure from low-cost foreign competitors in specific market segments.

0	Attractive yield Dividend Yield is 3.6%, FCF Yield is 7.7%
1	Low stock price volatility Vol 12M is 46%
2	Megatrend and thematic drivers Megatrends include Automation & Robotics, E-commerce Logistics & Data Centers, and Hydrogen Economy. Themes include Process / Warehouse Automation, Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -75%, 3Y Excs Rtn is -29%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 57%
5	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 259x
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.3%, Rev Chg QQuarterly Revenue Change % is -3.6%
7	Key risks HY key risks include [1] significant financial impact from persistent tariff costs and [2] intense margin pressure from low-cost foreign competitors in specific market segments.

Valuation, Metrics & Events

	2/16/26	2025	2024	2023	2022	2021
Share Price CYE	$39.32	$29.71	$50.93	$62.19	$25.31	$41.10
Market Cap CYE ($ Mil)	696.6	526.4	891.3	1,068.1	428.2	691.3
Total Debt ($ Mil)	467.8	467.8	468.5	510.6	545.0	428.0
Total Cash ($ Mil)	71.1	71.1	75.6	78.2	68.6	61.4
Enterprise Value ($ Mil)	1,093.3	994.2	1,359.8	1,578.7	973.2	1,119.3
Valuation Ratios
P/S TTM	0.2	0.1	0.2	0.3	0.1	0.2
P/EBIT TTM	12.8	9.7	3.3	5.6	-2.7	-34.9
P/E TTM	258.0	195.0	5.7	9.9	-2.3	-12.2
P/FCF TTM	13.0	9.8	10.0	12.8	-6.9	-4.8
Sector Ratios
P/S TTM (Sector)	1.8	1.7	1.5	1.4	1.2	1.7
P/EBIT TTM (Sector)	13.9	12.2	11.9	11.7	9.6	13.4
P/E TTM (Sector)	18.7	17.0	16.9	15.7	13.3	17.8
P/FCF TTM (Sector)	14.1	12.8	14.3	12.3	11.6	15.0

	2/16/26	2025	2024
Share Price CYE	$39.32	$29.71	$50.93
Market Cap CYE ($ Mil)	696.6	526.4	891.3
Total Debt ($ Mil)	467.8	467.8	468.5
Total Cash ($ Mil)	71.1	71.1	75.6
Enterprise Value ($ Mil)	1,093.3	994.2	1,359.8
Valuation Ratios
P/S TTM	0.2	0.1	0.2
P/EBIT TTM	12.8	9.7	3.3
P/E TTM	258.0	195.0	5.7
P/FCF TTM	13.0	9.8	10.0
Sector Ratios
P/S TTM (Sector)	1.8	1.7	1.5
P/EBIT TTM (Sector)	13.9	12.2	11.9
P/E TTM (Sector)	18.7	17.0	16.9
P/FCF TTM (Sector)	14.1	12.8	14.3

	HY	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	3.9
Rev Chg Q	-3.6%	7.5%
Rev Chg LTM	-8.3%	6.5%
Rev Chg 3Y Avg	5.5%	5.6%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	2.2%	18.8%
CFO/Rev LTM	2.8%	20.7%
Net Inc Mgn	0.1%	12.8%
VALUATION	VERY LOW
P/S	0.2	3.4
P/CFO	6.3	16.4
P/FCF	13.0	21.5
P/E	258.0	25.0
STABILITY	POOR
Debt/Equity	0.67	0.20
Cash/Assets	0.03	0.07

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Metric	Value	Date	Source
Unit Bookings Value	$380 million	9302025	Link
Backlog	$1.7 billion in unit value	6302025	Link
Working Capital as a Percentage of Sales	20%	9302025	Link
Dealer Sales for the Americas	$330.1 million	9302025	Link
Direct Sales for the Americas	$169.7 million	9302025	Link
Unused Borrowing Capacity	$275 million	9302025	Link
Class A Shares Outstanding	14,283,983	9302025	Link

Upcoming
2/24/2026	Earnings Release	Rev: - EPS: -
2/27/2026	Dividend	Amount: $0.36 Payment On: 3/13/2026
5/04/2026	Earnings Release	Rev: - EPS: -

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Hyster Yale (HY) stock has gained about 10% since 10/31/2025 because of the following key factors:

1. Better-than-Expected Q3 2025 Revenue Performance

Hyster-Yale reported third-quarter 2025 consolidated revenues of $979 million, exceeding analyst forecasts of $897.91 million by over 9%. This revenue beat led to a 2.72% increase in the stock price following the announcement, indicating a positive market reception despite a reported earnings per share loss. The company also highlighted operational improvements and a solid liquidity position during this period.

2. Strategic Cost Reduction Initiatives and Future Profitability Outlook

In November 2025, Hyster-Yale announced a restructuring plan, including a reduction of its global workforce by approximately 575 employees. This action was projected to generate significant annualized cost savings of $40 million to $45 million beginning in the first quarter of 2026, positioning the company for enhanced profitability amidst challenging market conditions.

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Stock Movement Drivers

Fundamental Drivers

The 11.2% change in HY stock from 10/31/2025 to 2/15/2026 was primarily driven by a 814.9% change in the company's P/E Multiple.

(LTM values as of)	10312025	2152026	Change
Stock Price ($)	35.50	39.47	11.2%
Change Contribution By:
Total Revenues ($ Mil)	3,951	3,914	-0.9%
Net Income Margin (%)	0.6%	0.1%	-87.7%
P/E Multiple	28.3	259.0	814.9%
Shares Outstanding (Mil)	18	18	-0.1%
Cumulative Contribution			11.2%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 2/15/2026

	Return	Correlation
HY	11.2%
Market (SPY)	-0.0%	31.4%
Sector (XLI)	12.3%	59.4%

Fundamental Drivers

The -4.0% change in HY stock from 7/31/2025 to 2/15/2026 was primarily driven by a -97.1% change in the company's Net Income Margin (%).

(LTM values as of)	7312025	2152026	Change
Stock Price ($)	41.10	39.47	-4.0%
Change Contribution By:
Total Revenues ($ Mil)	4,162	3,914	-6.0%
Net Income Margin (%)	2.4%	0.1%	-97.1%
P/E Multiple	7.3	259.0	3467.8%
Shares Outstanding (Mil)	18	18	-0.9%
Cumulative Contribution			-4.0%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 2/15/2026

	Return	Correlation
HY	-4.0%
Market (SPY)	8.2%	31.7%
Sector (XLI)	15.1%	58.3%

Fundamental Drivers

The -23.3% change in HY stock from 1/31/2025 to 2/15/2026 was primarily driven by a -98.1% change in the company's Net Income Margin (%).

(LTM values as of)	1312025	2152026	Change
Stock Price ($)	51.47	39.47	-23.3%
Change Contribution By:
Total Revenues ($ Mil)	4,268	3,914	-8.3%
Net Income Margin (%)	3.7%	0.1%	-98.1%
P/E Multiple	5.7	259.0	4420.4%
Shares Outstanding (Mil)	18	18	-1.2%
Cumulative Contribution			-23.3%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2025 to 2/15/2026

	Return	Correlation
HY	-23.3%
Market (SPY)	14.3%	44.4%
Sector (XLI)	27.2%	57.6%

Fundamental Drivers

The 33.2% change in HY stock from 1/31/2023 to 2/15/2026 was primarily driven by a 20.9% change in the company's P/S Multiple.

(LTM values as of)	1312023	2152026	Change
Stock Price ($)	29.63	39.47	33.2%
Change Contribution By:
Total Revenues ($ Mil)	3,393	3,914	15.4%
P/S Multiple	0.1	0.2	20.9%
Shares Outstanding (Mil)	17	18	-4.5%
Cumulative Contribution			33.2%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2023 to 2/15/2026

	Return	Correlation
HY	33.2%
Market (SPY)	74.0%	36.2%
Sector (XLI)	78.5%	48.4%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
HY Return	-29%	-36%	153%	-16%	-39%	30%	-24%
Peers Return	27%	-17%	38%	-11%	18%	25%	93%
S&P 500 Return	27%	-19%	24%	23%	16%	-0%	82%
Monthly Win Rates [3]
HY Win Rate	25%	42%	58%	42%	33%	100%
Peers Win Rate	60%	38%	53%	50%	55%	100%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
HY Max Drawdown	-38%	-46%	0%	-18%	-47%	0%
Peers Max Drawdown	-1%	-40%	-7%	-22%	-31%	-0%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-1%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: CAT, TEX, OSK, MTW, CMCO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/13/2026 (YTD)

How Low Can It Go

Unique Key	Event	HY	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-78.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	369.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.8%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	95.2%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	238 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-50.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	103.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	608 days	120 days

Compare to CAT, TEX, OSK, MTW, CMCO

In The Past

Hyster Yale's stock fell -78.7% during the 2022 Inflation Shock from a high on 2/16/2021. A -78.7% loss requires a 369.5% gain to breakeven.

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About Hyster Yale (HY)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Hyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. It also sells aftermarket parts under the Hyster and Yale, as well as UNISOURCE and PREMIER brands to Hyster and Yale dealers for the service of competitor lift trucks. In addition, the company produces and distributes attachments, forks, and lift tables under the Bolzoni, Auramo, and Meyer brand names; and designs and produces products in the port equipment and rough terrain forklift markets. Further, it designs, manufactures, and sells hydrogen fuel-cell stacks and engines. The company serves light and heavy manufacturers, trucking and automotive companies, rental companies, building materials and paper suppliers, lumber, metal products, warehouses, retailers, food distributors, container handling companies, and U.S. and non-U.S. governmental agencies. Hyster-Yale Materials Handling, Inc. was incorporated in 1991 and is headquartered in Cleveland, Ohio.

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Here are two analogies to describe Hyster Yale (HY):

The Caterpillar of the material handling industry.
Ford or GM for forklifts.

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Lift Trucks (Forklifts): Industrial vehicles designed to lift, stack, and transport materials over short distances, extensively used in warehouses, manufacturing, and logistics.
Aftermarket Parts & Services: A comprehensive range of replacement parts, attachments, and maintenance services for their various lines of material handling equipment.
Fuel Cell Power Solutions (Nuvera®): Environmentally friendly hydrogen fuel cell engines and related power systems primarily for industrial vehicles and commercial applications.

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Hyster-Yale (symbol: HY) primarily sells to other companies (B2B).

Its direct customers are its global network of independent dealers. These dealers, typically regional and privately owned businesses, purchase material handling equipment, parts, and services directly from Hyster-Yale. They then sell or rent these products and provide support services to end-user businesses in their respective territories.

Due to this distribution model, Hyster-Yale does not typically have major direct customer relationships with a few large, publicly traded companies that would be named as primary purchasers. Instead, its revenue is derived from sales to its numerous independent dealers worldwide.

While these are not direct customers of Hyster-Yale, the ultimate users of Hyster-Yale's products (such as lift trucks and material handling solutions) represent the key customer categories for the company's products. These include:

Warehousing and Distribution Centers: Companies involved in the storage, logistics, and material handling of various goods. This encompasses operations from e-commerce fulfillment and general warehousing to specialized cold storage and bulk material handling facilities.
Manufacturing and Industrial Operations: Businesses across a broad range of manufacturing sectors that require robust material handling equipment for moving raw materials, work-in-process, and finished goods within their production facilities and supply chains.
Retail and Food & Beverage: Large retail chains, grocery stores, and companies involved in food and beverage production, processing, and distribution. These businesses utilize Hyster-Yale equipment for inventory management, stocking, and optimizing logistics within their extensive supply networks.

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Alfred M. Rankin, Jr. Executive Chairman of the Board

Mr. Rankin became Executive Chairman of the Board of Hyster-Yale, Inc. in May 2023. Previously, from February 2021, he served as Chairman and Chief Executive Officer of Hyster-Yale. Since September 2012, when Hyster-Yale was spun off as an independent company by NACCO Industries, Inc., Mr. Rankin was Chairman, President, and Chief Executive Officer of Hyster-Yale. He joined NACCO as President and Chief Operating Officer in April 1989, becoming President and Chief Executive Officer in May 1991, and Chairman, President, and Chief Executive Officer in May 1994. Before joining NACCO, he was Vice Chairman, Chief Operating Officer, and a Director of Eaton Corporation for fifteen years, and prior to that, he worked for McKinsey and Company, a management consulting firm. He is currently Non-Executive Chairman of the Board of NACCO Industries, Inc. and Hamilton Beach Brands Holding Company. Mr. Rankin is also a director of Hyster-Yale, Inc., NACCO Industries, Inc., Hamilton Beach Brands Holding Company, and the National Association of Manufacturers, and was a former lead director of The Vanguard Group and Goodrich Corporation.

Rajiv K. Prasad President and Chief Executive Officer

Mr. Prasad has served as the President and Chief Executive Officer of Hyster-Yale, Inc. since May 2023. Prior to this, he was President of Hyster-Yale from February 2021. Before that, Mr. Prasad held the position of President and Chief Executive Officer of Hyster-Yale Materials Handling, where he was responsible for providing strategic vision and global leadership for the forklift and materials handling business.

Scott Minder Senior Vice President, Chief Financial Officer and Treasurer

Mr. Minder was appointed Senior Vice President, Chief Financial Officer and Treasurer of Hyster-Yale, Inc. effective August 29, 2022. In this role, he oversees the company's finance, investor relations, tax, and treasury functions. Before joining Hyster-Yale, Mr. Minder served as Vice President – Treasurer and Investor Relations of ATI Inc. from June 2018. Prior to ATI, he held various financial roles at PPG Industries from 2009 to 2017, including Director, Investor Relations, Global Business Controller – Industrial Coatings, Packaging Coatings, and CFO-Automotive OEM Coatings. He holds a Bachelor of Science degree in Management from Kettering University and a Master of Business Administration from Duke University.

Anthony J. Salgado President and Chief Executive Officer, Hyster-Yale Materials Handling

Mr. Salgado became President and Chief Executive Officer of Hyster-Yale Materials Handling in January 2025. In this role, he is responsible for the overall performance and global growth strategy of the company's lift truck business. Mr. Salgado has over 28 years of experience in the materials handling industry. He earned a Bachelor of Science degree in Management from Kettering University and a Master of Business Administration from Duke University.

Suzanne S. Taylor Senior Vice President, General Counsel and Secretary

Ms. Taylor serves as the Senior Vice President, General Counsel and Secretary for Hyster-Yale, Inc.

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Hyster-Yale (HY) faces several significant risks to its business operations and financial performance.

1. Volatile Economic and Market Conditions

The lift truck business is cyclical, making Hyster-Yale highly susceptible to downturns in the general economy. Market demand has been volatile and below expectations, leading to customers postponing capital expenditures and taking a more conservative approach to balance sheet management. This has resulted in declining backlogs, lower production rates, and significant decreases in the company's revenue and profitability. These softening demand conditions have been a primary drag on performance, with the company reporting revenue declines and operating losses.

2. Persistent Tariff Headwinds and Geopolitical Shifts

Hyster-Yale continues to experience significant financial impact from ongoing tariff costs, with direct costs reaching $40 million in Q3 2025. There is also considerable uncertainty surrounding future tariff policies and their effects on sourcing, pricing, and customer demand. These tariff challenges, combined with broader geopolitical shifts, influence long-term investment decisions by customers and escalate material costs, which the company has had less ability to offset through pricing.

3. Intense Competitive Pressure

The company faces substantial competitive pressure, particularly from low-cost foreign manufacturers. This competition is especially acute in specific segments, such as the Class 5 segment in South America and Europe, where it compresses margins. The overall competitive landscape, including the presence of substitute products, poses a continuous risk to Hyster-Yale's market share, pricing power, and profitability.

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The rapid advancement and increasing adoption of Autonomous Mobile Robots (AMRs) and Automated Guided Vehicles (AGVs) across warehousing, logistics, and manufacturing environments. These technologies offer automated material handling solutions that can perform many repetitive tasks traditionally handled by human-operated forklifts, often with benefits such as reduced labor costs, increased safety, and 24/7 operation. While Hyster Yale has its own robotic offerings, the proliferation of specialized AMR/AGV companies and the growing market preference for these integrated automation solutions pose a significant disruptive challenge to the demand for traditional lift trucks and could lead to a substantial shift in market share.

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Hyster-Yale (symbol: HY) operates primarily within the global material handling equipment and forklift truck markets. The addressable market sizes for their main products and services are as follows:

Lift Trucks/Forklifts:
- Global: The global forklift market was valued at approximately USD 81.8 billion in 2024 and is projected to reach USD 137.9 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 5.6% between 2025 and 2034. Other estimates place the global forklift truck market at USD 68.1 billion in 2024, expecting it to reach USD 97.8 billion by 2033 with a CAGR of 4.1% during 2025-2033.
- North America: The North America forklift market was estimated at USD 12.4 billion in 2024 and is expected to grow to USD 25.4 billion by 2034, at a CAGR of 7.6%. The United States contributed significantly to this market, generating revenue of USD 9.9 billion in 2024.
Material Handling Equipment (broader market, includes lift trucks):
- Global: The global material handling equipment market was valued at USD 239.3 billion in 2024 and is projected to grow to USD 390.88 billion by 2032, with a CAGR of 6.4%. Another source indicates the market size at USD 259.44 billion in 2025, expected to reach USD 445.81 billion by 2034, expanding at a CAGR of 6.2%.
- Asia Pacific: This region accounted for approximately USD 107.49 billion of the material handling equipment market in 2024.
Aftermarket parts: null
Attachments, forks, and lift tables: null
Hydrogen fuel cell power products: null
Telematics, automation, and other services: null

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Hyster-Yale (HY) is poised for future revenue growth over the next 2-3 years, driven by several key strategic initiatives and market dynamics, despite facing near-term headwinds. The expected drivers include:

Expanded Product Portfolio and Advanced Technology Solutions

Hyster-Yale anticipates revenue growth through the continuous expansion of its product portfolio with advanced technology. This includes the introduction of new modular and automated products, alongside a strong focus on warehouse lift trucks and vehicle automation. A significant driver within this category is the comprehensive energy solutions program, encompassing the acceleration of lithium-ion battery sales and the launch of new fuel cell and charging solutions, such as the HydroCharge™ product, expected to gain traction from mid-2025 onwards. Furthermore, Hyster-Yale's commitment to meeting "Build America, Buy America" requirements for electric container handling and forklift equipment signifies a strategic move to capture revenue from federally funded infrastructure projects by offering compliant, high-capacity electric options.

Market Share Gains through Targeted Commercial Initiatives

The company aims to increase its revenue by gaining market share in key regions, particularly in the Americas and EMEA. This will be supported by targeted commercial initiatives designed to thoroughly understand customer applications and offer optimal solutions, leading to improved productivity and lower cost of ownership for clients. Evidence of early success in this area includes increased attachment and fork sales in the Americas due to these initiatives.

Customer Fleet Modernization and Replacement Cycles

While current market conditions have led some customers to defer purchases, Hyster-Yale expects future revenue growth from the inevitable modernization and replacement cycles of aging customer fleets. The rising costs and operational inefficiencies associated with maintaining older equipment are projected to make new fleet acquisitions increasingly attractive, driving demand for Hyster-Yale's products as customer confidence returns and capital spending resumes.

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Share Repurchases

Hyster-Yale's Board of Directors authorized a stock repurchase program on November 18, 2024, for up to $50 million or 1.5 million shares of Class A Common Stock, whichever comes first, expiring in November 2027.
The company repurchased approximately $5 million of its Class A common stock in the fourth quarter of 2024.

Share Issuance

Compensation expense related to share awards, net of tax, was $1.4 million in 2021.
Compensation expense related to share awards, net of tax, was $0.9 million in 2022.
Compensation expense related to share awards, net of tax, was $1.8 million in 2023.

Outbound Investments

In December 2020, Hyster-Yale Group partnered with Capacity Trucks to jointly develop electric, hydrogen, and automation-ready terminal tractors.
During 2024, investments were made to support strategic initiatives, including product development and customer-facing technology.
Hyster-Yale announced plans in December 2024 to fulfill Build America, Buy America Act requirements by expanding American manufacturing for targeted high-capacity electric container handling and forklift equipment.

Capital Expenditures

Capital expenditures were $51.7 million in 2020, $44.3 million in 2021, and $28.8 million in 2022.
For 2023, capital expenditures were $3.3 million in Q1, $7.3 million in Q2, and $8.3 million in Q3.
Expected capital expenditures for 2024 were $60 million, revised down from an earlier projection of $84 million, with 2025 capital expenditures projected to range between $50 million and $60 million, focused on advanced products, manufacturing efficiency, and information technology upgrades.

Interactive Breakdown

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Higher Op Mgn LTM (Value for HY: 2.2%)

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Higher CFO/Rev LTM (Value for HY: 2.8%)

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Higher FCF/Rev LTM (Value for HY: 1.4%)

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Higher Total Yield (Value for HY: 4.0%)

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HON (5.9%)

Honeywell International

LMT (4.9%)

Lockheed Martin

DE (4.1%)

Deere

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for HY: 5.5% | 0.2x)

HUM (11.4% | 0.2x)

Humana

CNC (9.6% | 0.1x)

Centene

MOH (12.5% | 0.2x)

Molina Healthcare

SNEX (32.4% | 0.0x)

StoneX

PAGS (10.6% | 0.2x)

PagSeguro Digital

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for HY: 5.5% | 8.2x)

PYPL (6.4% | 5.9x)

PayPal

IBKR (48.1% | 3.9x)

Interactive Brokers

FISV (6.8% | 5.3x)

Fiserv

RCI (11.8% | 4.3x)

Rogers Communications

GPN (6.8% | 7.8x)

Global Payments

Higher Rev Chg LTM (Value for HY: -8.3%)

NVDA (65.2%)

NVIDIA

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for HY: 5.5%)

NVDA (91.6%)

NVIDIA

META (19.9%)

Meta Platforms

MSFT (14.4%)

Microsoft

GOOGL (12.5%)

Alphabet

AMZN (11.7%)

Amazon.com

Higher Op Mgn LTM (Value for HY: 2.2%)

NVDA (58.8%)

NVIDIA

MSFT (46.7%)

Microsoft

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

AMZN (11.2%)

Amazon.com

Higher CFO/Rev LTM (Value for HY: 2.8%)

MSFT (52.5%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

AMZN (19.5%)

Amazon.com

Higher FCF/Rev LTM (Value for HY: 1.4%)

NVDA (41.3%)

NVIDIA

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

META (22.9%)

Meta Platforms

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for HY: 4.0%)

XOM (7.4%)

Exxon Mobil

JPM (6.9%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

MSFT (4.8%)

Microsoft

META (4.1%)

Meta Platforms

Best Bets in Industrials

What You Pay

P/EBIT (Value for HY: 12.9x)

GATX (10.6x)

GATX

VRSK (18.7x)

Verisk Analytics

PAYX (14.6x)

Paychex

AGX (47.4x)

Argan

TDG (17.6x)

TransDigm

PCTY (17.2x)

Paylocity

WOR (20.1x)

Worthington Enterprises

SNA (14.4x)

Snap-on

FTV (15.2x)

Fortive

ADP (14.4x)

Automatic Data Processing

P/E (Value for HY: 259.0x)

GATX (22.0x)

GATX

VRSK (27.4x)

Verisk Analytics

PAYX (21.3x)

Paychex

AGX (47.3x)

Argan

TDG (37.0x)

TransDigm

PCTY (24.3x)

Paylocity

WOR (27.3x)

Worthington Enterprises

SNA (19.6x)

Snap-on

FTV (31.3x)

Fortive

ADP (20.2x)

Automatic Data Processing

What You Get

Rev Chg 3Y Avg (Value for HY: 5.5%)

GATX (10.3%)

GATX

VRSK (13.4%)

Verisk Analytics

PAYX (7.9%)

Paychex

AGX (26.9%)

Argan

TDG (17.5%)

TransDigm

PCTY (19.0%)

Paylocity

WOR (-6.3%)

Worthington Enterprises

SNA (2.1%)

Snap-on

FTV (9.4%)

Fortive

ADP (7.1%)

Automatic Data Processing

Rev Chg LTM (Value for HY: -8.3%)

GATX (10.7%)

GATX

VRSK (7.3%)

Verisk Analytics

PAYX (12.4%)

Paychex

AGX (13.5%)

Argan

TDG (11.7%)

TransDigm

PCTY (12.1%)

Paylocity

WOR (7.4%)

Worthington Enterprises

SNA (0.9%)

Snap-on

FTV (27.9%)

Fortive

ADP (6.6%)

Automatic Data Processing

Rev Chg Q (Value for HY: -3.6%)

GATX (8.4%)

GATX

VRSK (5.9%)

Verisk Analytics

PAYX (18.3%)

Paychex

AGX (-2.3%)

Argan

TDG (13.9%)

TransDigm

PCTY (10.4%)

Paylocity

WOR (19.5%)

Worthington Enterprises

SNA (3.1%)

Snap-on

FTV (2.3%)

Fortive

ADP (6.2%)

Automatic Data Processing

FCF/Rev 3Y Avg (Value for HY: 1.8%)

GATX (39.2%)

GATX

VRSK (33.2%)

Verisk Analytics

PAYX (32.6%)

Paychex

AGX (24.5%)

Argan

TDG (22.1%)

TransDigm

PCTY (21.7%)

Paylocity

WOR (20.9%)

Worthington Enterprises

SNA (20.8%)

Snap-on

FTV (20.1%)

Fortive

ADP (19.7%)

Automatic Data Processing

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Hyster Yale Earnings Notes	12/16/2025
2	Hyster Yale Stock Drop Looks Sharp, But How Deep Can It Go?	10/17/2025
3	Why Hyster Yale Stock Moved: HY Stock Has Lost 48% Since 2023 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)	08/08/2025
4	HY Dip Buy Analysis	07/10/2025
5	Now Is Not The Time To Buy Hyster Yale Stock	05/16/2025
6	Hyster Yale (HY) Valuation Ratios Comparison	05/15/2025
7	Hyster Yale Total Shareholder Return (TSR): -11.5% in 2024 and 14.8% 3-yr compounded annual returns (above peer average)	03/07/2025
8	Hyster Yale (HY) Operating Cash Flow Comparison	02/17/2025
9	Hyster Yale (HY) Net Income Comparison	02/15/2025
10	Hyster Yale (HY) Operating Income Comparison	02/15/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to HY.

Unique Key

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
CRSR	Corsair Gaming	0.7	48.3%	14.3%
CPS	Cooper-Standard	0.8	32.4%	37.7%
TPH	Tri Pointe Homes	4.0	26.8%	47.3%
RIVN	Rivian Automotive	21.6	26.6%	-10.0%
MGA	Magna International	19.4	18.9%	28.9%
FSLY	Fastly	2.7	13.8%	79.4%
EVMN	Evommune	0.9	13.2%	84.4%
FRMI	Fermi	6.1	11.1%	28.6%
WOLF	Wolfspeed	2.8	10.9%	1.9%
HASI	HA Sustainable Infrastructure Capital	4.9	10.8%	26.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UPB	Upstream Bio	0.5	-31.6%	-67.8%
IRON	Disc Medicine	2.0	-21.9%	-29.5%
BFAM	Bright Horizons Family Solutions	3.8	-18.2%	-34.0%
NUS	Nu Skin Enterprises	0.4	-18.1%	-13.1%
FBIN	Fortune Brands Innovations	6.2	-17.6%	2.6%
PINS	Pinterest	10.5	-16.8%	-40.4%
CALY	Callaway Golf	2.3	-15.0%	-16.8%
DKNG	DraftKings	10.8	-13.5%	-36.9%
TRUP	Trupanion	1.2	-13.0%	-25.2%
RYAN	Ryan Specialty	5.0	-12.8%	-25.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FSLY	Fastly	2.7	113.1%	79.4%
NKTR	Nektar Therapeutics	1.4	93.8%	68.7%
EVMN	Evommune	0.9	82.4%	84.4%
VAL	Valaris	6.8	53.8%	90.4%
ICHR	Ichor	1.6	45.5%	153.8%
IPGP	IPG Photonics	6.5	40.4%	115.0%
CGNX	Cognex	9.9	38.8%	63.4%
CRSR	Corsair Gaming	0.7	31.3%	14.3%
TPH	Tri Pointe Homes	4.0	30.8%	47.3%
CPS	Cooper-Standard	0.8	30.6%	37.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
UPB	Upstream Bio	0.5	-66.6%	-67.8%
KD	Kyndryl	2.8	-47.9%	-53.9%
NSP	Insperity	1.0	-34.0%	-33.7%
RPD	Rapid7	0.5	-33.6%	-52.8%
PGY	Pagaya Technologies	1.0	-33.3%	-40.5%
FTRE	Fortrea	0.9	-33.2%	-43.2%
ANGI	Angi	0.4	-31.6%	-37.4%
UPWK	Upwork	1.7	-30.1%	-33.3%
IRON	Disc Medicine	2.0	-29.8%	-29.5%
CLF	Cleveland-Cliffs	5.1	-29.5%	-21.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CRVS	Corvus Pharmaceuticals	1.5	173.6%	142.3%
IPGP	IPG Photonics	6.5	98.5%	115.0%
FSLY	Fastly	2.7	98.4%	79.4%
NKTR	Nektar Therapeutics	1.4	97.6%	68.7%
IBRX	ImmunityBio	5.6	96.9%	200.3%
VAL	Valaris	6.8	75.5%	90.4%
MOD	Modine Manufacturing	11.4	73.1%	62.2%
LITE	Lumentum	39.6	69.7%	52.7%
ICHR	Ichor	1.6	67.5%	153.8%
RAPT	RAPT Therapeutics	1.6	66.2%	70.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UPB	Upstream Bio	0.5	-72.9%	-67.8%
U	Unity Software	7.9	-55.6%	-57.7%
KD	Kyndryl	2.8	-55.5%	-53.9%
FUBO	FuboTV	0.5	-48.1%	-46.8%
HIMS	Hims & Hers Health	3.7	-48.0%	-49.8%
PGY	Pagaya Technologies	1.0	-47.6%	-40.5%
PAR	PAR Technology	0.8	-47.5%	-42.5%
NRGV	Energy Vault	0.5	-47.4%	-30.8%
RPD	Rapid7	0.5	-46.9%	-52.8%
RGNX	Regenxbio	0.4	-46.6%	-44.5%

Peer Comparisons

Peers to compare with:

Financials

	HY	CAT	TEX	OSK	MTW	CMCO	Median
Name	Hyster Y.	Caterpil.	Terex	Oshkosh	Manitowoc	Columbus.
Mkt Price	39.47	774.20	69.23	171.08	14.30	20.33	54.35
Mkt Cap	0.7	360.9	4.5	11.0	0.5	0.6	2.6
Rev LTM	3,914	67,589	5,421	10,332	2,160	1,003	4,667
Op Inc LTM	86	11,151	475	957	50	39	280
FCF LTM	54	7,453	322	755	8	40	188
FCF 3Y Avg	75	8,689	281	316	-19	47	178
CFO LTM	110	11,739	440	974	44	56	275
CFO 3Y Avg	119	12,220	408	599	40	67	264

Growth & Margins

	HY	CAT	TEX	OSK	MTW	CMCO	Median
Name	Hyster Y.	Caterpil.	Terex	Oshkosh	Manitowoc	Columbus.
Rev Chg LTM	-8.3%	4.3%	5.7%	-2.5%	-0.8%	2.1%	0.6%
Rev Chg 3Y Avg	5.5%	4.6%	7.3%	9.9%	4.6%	2.4%	5.1%
Rev Chg Q	-3.6%	18.0%	6.2%	-1.9%	5.4%	10.5%	5.8%
QoQ Delta Rev Chg LTM	-0.9%	4.5%	1.4%	-0.5%	1.3%	2.5%	1.4%
Op Mgn LTM	2.2%	16.5%	8.8%	9.3%	2.3%	3.9%	6.3%
Op Mgn 3Y Avg	4.2%	18.7%	10.5%	9.2%	3.2%	7.5%	8.3%
QoQ Delta Op Mgn LTM	-0.8%	-1.2%	1.4%	-0.0%	0.5%	-0.3%	-0.1%
CFO/Rev LTM	2.8%	17.4%	8.1%	9.4%	2.0%	5.6%	6.9%
CFO/Rev 3Y Avg	2.9%	18.4%	7.8%	6.0%	1.8%	6.7%	6.3%
FCF/Rev LTM	1.4%	11.0%	5.9%	7.3%	0.3%	4.0%	5.0%
FCF/Rev 3Y Avg	1.8%	13.1%	5.4%	3.1%	-0.9%	4.7%	3.9%

Valuation

	HY	CAT	TEX	OSK	MTW	CMCO	Median
Name	Hyster Y.	Caterpil.	Terex	Oshkosh	Manitowoc	Columbus.
Mkt Cap	0.7	360.9	4.5	11.0	0.5	0.6	2.6
P/S	0.2	5.3	0.8	1.1	0.2	0.6	0.7
P/EBIT	12.9	30.0	9.7	11.2	10.8	14.7	12.0
P/E	259.0	40.6	20.5	16.5	8.9	97.2	30.6
P/CFO	6.3	30.7	10.3	11.3	11.7	10.4	10.8
Total Yield	4.0%	3.2%	5.9%	7.2%	11.2%	2.4%	4.9%
Dividend Yield	3.6%	0.8%	1.0%	1.2%	0.0%	1.4%	1.1%
FCF Yield 3Y Avg	9.3%	4.8%	8.0%	4.0%	-6.6%	5.7%	5.3%
D/E	0.7	0.1	0.6	0.1	1.1	0.8	0.6
Net D/E	0.6	0.1	0.4	0.1	1.0	0.7	0.5

Returns

	HY	CAT	TEX	OSK	MTW	CMCO	Median
Name	Hyster Y.	Caterpil.	Terex	Oshkosh	Manitowoc	Columbus.
1M Rtn	16.6%	20.0%	14.6%	12.4%	5.8%	-1.9%	13.5%
3M Rtn	40.2%	40.1%	51.3%	37.3%	28.6%	36.4%	38.7%
6M Rtn	11.1%	90.8%	38.3%	24.4%	56.5%	43.3%	40.8%
12M Rtn	-22.4%	122.1%	54.4%	61.4%	29.5%	1.0%	42.0%
3Y Rtn	42.2%	229.7%	29.4%	95.3%	-0.4%	-43.5%	35.8%
1M Excs Rtn	20.3%	22.8%	15.3%	14.8%	4.3%	0.3%	15.1%
3M Excs Rtn	34.5%	35.6%	51.3%	36.9%	25.7%	29.3%	35.1%
6M Excs Rtn	2.3%	80.7%	28.5%	17.2%	46.6%	33.9%	31.2%
12M Excs Rtn	-33.1%	110.0%	43.7%	48.4%	33.4%	-8.7%	38.5%
3Y Excs Rtn	-28.9%	160.6%	-26.1%	9.2%	-64.2%	-109.3%	-27.5%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/4/2025	2/25/2025	2/27/2024	2/27/2023	2/28/2022	2/24/2021	2/25/2020
Key Financials
Total Revenue	3,914	4,308	4,118	3,548	3,076	2,812	3,292
EBITDA	100	300	263	9	-93	99	111
Operating Income	86	267	209	-39	-87	50	54
Net Income	3	142	126	-74	-173	37	36
EPS	0.16	8.16	7.35	-4.38	-10.29	2.21	2.15
Growth Rates
Total Revenue Growth	-8.3%	4.6%	16.1%	15.4%	9.4%	-14.6%	3.5%
EBITDA Growth	-68.6%	14.0%	2702.1%	110.1%	-194.3%	-11.0%	14.9%
Operating Income Growth	-67.3%	28.1%	633.8%	54.9%	-273.7%	-7.4%	38.9%
Net Income Growth	-98.3%	13.0%	269.9%	57.2%	-566.3%	3.6%	3.2%
Margins
EBITDA Margin	2.6%	7.0%	6.4%	0.3%	-3.0%	3.5%	3.4%
Operating Income Margin	2.2%	6.2%	5.1%	-1.1%	-2.8%	1.8%	1.6%
Net Income Margin	0.1%	3.3%	3.1%	-2.1%	-5.6%	1.3%	1.1%
Cash & Debt
Total Cash	71	97	79	59	66	151	65
Total Debt	468	542	572	553	518	289	287
Net Debt / (Cash)	397	445	493	494	453	138	222
Cash Flows
Net Cash from Operations	110	171	151	41	-254	167	77
Free Cash from Operations	54	123	115	12	-298	115	27
Returns to Shareholders
Dividends	25	24	22	22	22	21	21
Share Repurchases	9	14	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/4/2025	8/5/2025	5/6/2025	2/25/2025	11/5/2024	8/6/2024	5/7/2024	2/27/2024	10/31/2023	8/1/2023	5/2/2023	2/27/2023
Key Financials Quarterly
Total Revenue	979	957	910	1,068	1,016	1,168	1,056	1,027	1,001	1,091	999	985
Ebitda	15	6	36	44	48	111	98	62	74	70	57	33
Operating Income	3	7	22	54	34	96	84	49	59	59	43	20
Net Income	-2	-14	9	10	17	63	52	25	36	38	27	8
EPS	-0.13	-0.79	0.49	0.59	0.98	3.62	2.97	1.47	2.08	2.23	1.56	0.45
Key Financials TTM
Total Revenue TTM	3,914	3,951	4,162	4,308	4,268	4,253	4,176	4,118	4,076	3,915	3,720	3,548
Ebitda TTM	100	134	238	300	319	344	304	263	234	147	72	9
Operating Income TTM	86	117	205	267	262	287	250	209	180	96	22	-39
Net Income TTM	3	22	99	142	157	176	151	126	108	35	-22	-74
Growth Rates Quarterly
Total Revenue Growth	-3.6%	-18.1%	-13.8%	3.9%	1.5%	7.1%	5.7%	4.3%	19.2%	21.8%	20.7%	18.7%
EBITDA Growth	-69.5%	-94.2%	-63.6%	-30.0%	-34.4%	57.7%	70.2%	88.2%	632.6%	1600.0%	1223.5%	136.4%
Operating Income Growth	-90.4%	-92.5%	-74.3%	10.3%	-41.5%	62.6%	96.7%	146.0%	335.3%	474.5%	332.8%	147.8%
Net Income Growth	-113.4%	-122.0%	-83.3%	-59.1%	-52.0%	65.3%	93.6%	231.6%	196.0%	297.4%	206.4%	107.4%
Margins Quarterly
EBITDA Margin	1.5%	0.7%	3.9%	4.1%	4.7%	9.5%	9.2%	6.0%	7.3%	6.5%	5.7%	3.3%
Operating Income Margin	0.3%	0.8%	2.4%	5.0%	3.4%	8.2%	7.9%	4.7%	5.9%	5.4%	4.3%	2.0%
Net Income Margin	-0.2%	-1.5%	0.9%	1.0%	1.7%	5.4%	4.9%	2.5%	3.6%	3.5%	2.7%	0.8%
Cash & Debt
Total Cash	71	67	77	97	76	66	62	79	78	66	65	59
Total Debt	468	473	484	542	468	502	475	572	511	542	561	553
Net Debt / (Cash)	397	406	407	445	393	435	413	493	432	477	496	494
Cash Flows Quarterly
FCF from Operations	37	29	-36	81	70	-2	22	46	60	36	9	6
Cash Flows TTM
FCF from Operations TTM	110	143	112	171	136	126	164	151	111	85	-10	41
Returns to Shareholders Quarterly
Dividends	6	6	6	6	6	6	6	6	6	6	6	5
Share Repurchases	0	-0	4	5	-0	-0	9	-0	-0	-0	0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	0.9%	5.0%	8.5%	18.0%	16.0%	51.0%	44.0%	19.2%	32.4%	32.1%	22.3%	8.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	2.8%	8.6%	25.0%	33.1%	32.5%	36.6%	33.5%	23.6%	26.0%	9.5%	3.8%	-7.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Lift truck business	3,921	3,360	2,897	2,673	3,124
Bolzoni	375	356	348	284	345
Nuvera	4	3	1	4	10
Eliminations	-182	-170	-170	-148	-188
Total	4,118	3,548	3,076	2,812	3,292

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Lift truck business	230	-10	-87	86	86
Bolzoni	15	6	-2	1	5
Eliminations	0	-1	-1	-1	-0
Nuvera	-36	-34	-62	-36	-36
Total	209	-39	-152	50	54

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Lift truck business	2,226	2,157	2,048	1,875	1,829
Bolzoni	304	315	324	300	286
Nuvera	25	19	16	57	58
Eliminations	-476	-465	-418	-374	-326
Total	2,079	2,026	1,970	1,859	1,847

Price Behavior

Price Behavior

Market Price	$39.47
Market Cap ($ Bil)	0.7
First Trading Date	10/01/2012
Distance from 52W High	-24.6%
	50 Days	200 Days
DMA Price	$33.32	$36.12
DMA Trend	down	up
Distance from DMA	18.5%	9.3%
	3M	1YR
Volatility	52.6%	46.7%
Downside Capture	109.72	133.01
Upside Capture	294.72	90.64
Correlation (SPY)	43.2%	44.0%

HY Betas & Captures as of 1/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.53	2.74	1.54	1.35	1.07	1.17
Up Beta	4.04	1.64	0.19	1.49	0.96	0.90
Down Beta	2.73	2.55	1.69	1.56	1.02	1.10
Up Capture	309%	411%	158%	70%	80%	208%
Bmk +ve Days	11	22	34	71	142	430
Stock +ve Days	11	19	25	57	117	373
Down Capture	88%	229%	188%	150%	128%	109%
Bmk -ve Days	9	19	27	54	109	321
Stock -ve Days	8	21	35	67	132	376

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HY
HY	-20.3%	46.5%	-0.34	-
Sector ETF (XLI)	27.9%	19.2%	1.15	57.4%
Equity (SPY)	14.0%	19.4%	0.55	44.1%
Gold (GLD)	74.3%	25.3%	2.17	-1.5%
Commodities (DBC)	7.0%	16.7%	0.24	19.2%
Real Estate (VNQ)	7.9%	16.6%	0.28	38.5%
Bitcoin (BTCUSD)	-29.8%	44.9%	-0.65	24.0%

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Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HY
HY	-14.4%	47.8%	-0.16	-
Sector ETF (XLI)	15.9%	17.2%	0.74	50.5%
Equity (SPY)	13.3%	17.0%	0.62	41.2%
Gold (GLD)	22.1%	17.0%	1.06	5.6%
Commodities (DBC)	10.5%	18.9%	0.44	16.3%
Real Estate (VNQ)	5.2%	18.8%	0.18	36.9%
Bitcoin (BTCUSD)	8.3%	57.2%	0.37	15.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with HY
HY	-0.5%	45.7%	0.16	-
Sector ETF (XLI)	15.3%	19.8%	0.68	56.8%
Equity (SPY)	15.6%	17.9%	0.75	49.5%
Gold (GLD)	15.3%	15.6%	0.82	0.3%
Commodities (DBC)	8.1%	17.6%	0.38	21.3%
Real Estate (VNQ)	6.4%	20.7%	0.27	41.3%
Bitcoin (BTCUSD)	67.9%	66.7%	1.07	13.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	1302026
Short Interest: Shares Quantity	0.4 Mil
Short Interest: % Change Since 1152026	-6.1%
Average Daily Volume	0.1 Mil
Days-to-Cover Short Interest	3.7 days
Basic Shares Quantity	17.7 Mil
Short % of Basic Shares	2.0%

Returns Analyses

	Title
0	Hyster Yale Stock Drop Looks Sharp, But How Deep Can It Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/4/2025	-1.4%	-14.0%	-0.9%
8/5/2025	-12.4%	-12.1%	-11.2%
5/6/2025	-4.6%	6.9%	1.6%
2/25/2025	2.8%	-13.9%	-12.8%
11/5/2024	-14.7%	-14.2%	-6.2%
8/6/2024	-16.4%	-15.0%	-15.0%
5/7/2024	23.6%	28.9%	24.3%
2/27/2024	-16.8%	-17.8%	-9.7%
...
SUMMARY STATS
# Positive	9	9	8
# Negative	13	13	14
Median Positive	6.9%	9.4%	18.5%
Median Negative	-12.3%	-12.1%	-11.4%
Max Positive	23.6%	48.5%	47.5%
Max Negative	-16.8%	-17.8%	-24.3%

	Forward Returns
11/4/2025	-1.4%	-14.0%	-0.9%
8/5/2025	-12.4%	-12.1%	-11.2%
5/6/2025	-4.6%	6.9%	1.6%
2/25/2025	2.8%	-13.9%	-12.8%
11/5/2024	-14.7%	-14.2%	-6.2%
8/6/2024	-16.4%	-15.0%	-15.0%
5/7/2024	23.6%	28.9%	24.3%
2/27/2024	-16.8%	-17.8%	-9.7%
10/31/2023	5.2%	9.4%	20.0%
8/1/2023	6.9%	1.3%	-4.6%
2/27/2023	20.7%	48.5%	47.5%
11/1/2022	-1.2%	1.3%	1.7%
8/2/2022	1.3%	-8.1%	-15.5%
2/28/2022	-12.0%	-7.4%	-5.9%
11/2/2021	-12.6%	-9.8%	-24.3%
8/3/2021	-12.3%	-12.4%	-14.1%
5/25/2021	-5.0%	2.2%	-5.7%
2/24/2021	-13.3%	-6.2%	-11.5%
11/3/2020	10.4%	15.5%	24.0%
8/4/2020	7.5%	15.6%	6.6%
5/5/2020	-6.1%	-5.0%	17.0%
2/25/2020	1.8%	-8.1%	-22.0%
SUMMARY STATS
# Positive	9	9	8
# Negative	13	13	14
Median Positive	6.9%	9.4%	18.5%
Median Negative	-12.3%	-12.1%	-11.4%
Max Positive	23.6%	48.5%	47.5%
Max Negative	-16.8%	-17.8%	-24.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2025	11/04/2025	10-Q
06/30/2025	08/05/2025	10-Q
03/31/2025	05/06/2025	10-Q
12/31/2024	02/25/2025	10-K
09/30/2024	11/05/2024	10-Q
06/30/2024	08/06/2024	10-Q
03/31/2024	05/07/2024	10-Q
12/31/2023	02/27/2024	10-K
09/30/2023	10/31/2023	10-Q
06/30/2023	08/01/2023	10-Q
03/31/2023	05/02/2023	10-Q
12/31/2022	02/27/2023	10-K
09/30/2022	11/01/2022	10-Q
06/30/2022	08/02/2022	10-Q
03/31/2022	05/03/2022	10-Q
12/31/2021	02/28/2022	10-K

Insider Activity

Expand for Morenull

HY Trade Sentinel

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Hyster Yale (HY)

Market Price (2/16/2026): $39.32 | Market Cap: $696.6 MilSector: Industrials | Industry: Agricultural & Farm Machinery

Hyster Yale (HY)

Market Price (2/16/2026): $39.32Market Cap: $696.6 MilSector: IndustrialsIndustry: Agricultural & Farm Machinery

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Hyster Yale (HY)

1. Volatile Economic and Market Conditions

2. Persistent Tariff Headwinds and Geopolitical Shifts

3. Intense Competitive Pressure

Expanded Product Portfolio and Advanced Technology Solutions

Market Share Gains through Targeted Commercial Initiatives

Customer Fleet Modernization and Replacement Cycles

Interactive Breakdown

Better Bets vs. Hyster Yale (HY)

INDUSTRY: Agricultural & Farm Machinery

Higher Rev Chg LTM (Value for HY: -8.3%)

Higher Rev Chg 3Y Avg (Value for HY: 5.5%)

Higher Op Mgn LTM (Value for HY: 2.2%)

Higher CFO/Rev LTM (Value for HY: 2.8%)

Higher FCF/Rev LTM (Value for HY: 1.4%)

Higher Total Yield (Value for HY: 4.0%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for HY: 5.5% | 0.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for HY: 5.5% | 8.2x)

Higher Rev Chg LTM (Value for HY: -8.3%)

Higher Rev Chg 3Y Avg (Value for HY: 5.5%)

Higher Op Mgn LTM (Value for HY: 2.2%)

Higher CFO/Rev LTM (Value for HY: 2.8%)

Higher FCF/Rev LTM (Value for HY: 1.4%)

Higher Total Yield (Value for HY: 4.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for HY: 5.5% | 0.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for HY: 5.5% | 8.2x)

Higher Rev Chg LTM (Value for HY: -8.3%)

Higher Rev Chg 3Y Avg (Value for HY: 5.5%)

Higher Op Mgn LTM (Value for HY: 2.2%)

Higher CFO/Rev LTM (Value for HY: 2.8%)

Higher FCF/Rev LTM (Value for HY: 1.4%)

Higher Total Yield (Value for HY: 4.0%)

Best Bets in Industrials

P/EBIT (Value for HY: 12.9x)

P/E (Value for HY: 259.0x)

Rev Chg 3Y Avg (Value for HY: 5.5%)

Rev Chg LTM (Value for HY: -8.3%)

Rev Chg Q (Value for HY: -3.6%)

FCF/Rev 3Y Avg (Value for HY: 1.8%)

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Market Price (2/16/2026): $39.32 | Market Cap: $696.6 Mil
Sector: Industrials | Industry: Agricultural & Farm Machinery

Market Price (2/16/2026): $39.32
Market Cap: $696.6 Mil
Sector: Industrials
Industry: Agricultural & Farm Machinery