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Hyster-Yale, Inc. ("Hyster-Yale" or the "Company") and its subsidiaries, including its operating companies, Hyster-Yale Materials Handling, Inc. ("HYMH") and Bolzoni S.p.A. ("Bolzoni"), is a globally integrated company offering a full line of high-quality, application-tailored lift trucks and solutions aimed at meeting the specific materials handling needs of its customers. The Company's soluti…
The business is unprofitable at the operating level (-0.59% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 12.5% YoY. Margins deteriorated 6.3pp alongside, both lines moving the wrong way.
Free cash flow declined 81% versus the prior year, cash generation momentum has weakened. ROIC dropped from 17.70% to -1.54%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$3.65B
▼ -12.5% YoY
Net Income (TTM)
-$99M
▼ -142.2% YoY
Op. Margin
-1.95%
▼ -6.3pp YoY
ROIC
-4.93%
▼ -19.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$28M
▼ -80.8% YoY
Op. Cash Flow (TTM)
$90M
▼ -49.6% YoY
Net Debt
$549M
Cash & Equiv.
$82M
5Y CAGR: +6.0%
5Y CAGR: -27.2%
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