HYSTER-YALE, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HYSTER-YALE, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,570	2,885	3,179	3,292	2,812	3,076	3,548	4,118	4,308	3,769
Cost of revenue	2,142	2,383	2,682	2,750	2,347	2,712	3,114	3,333	3,413	3,137
Gross profit	428	503	497	542	465	363	434	786	896	633
Research and development	107	105	111	115	101	108	101	120	136	137
Selling, general and administrative	395	429	458	488	416	450	473	577	628	617
Operating expenses	395	429	458	488	416	516	473	577	651	655
Operating income	32.9	74.1	38.8	53.9	49.9	-152	-39.1	209	245	-22.1
Interest expense	6.7	14.6	16	19.8	13.7	15.5	28.4	37.3	33.8	31.2
Interest income	2	3.6	2.4	1.8	1.4	0.6
Other non-operating income	5.4	19.7	-2.2	-6	-7.7	-2.6	-23.3	-27.7	-25.8	-20.8
Pre-tax income	38.3	93.8	36.6	47.9	42.2	-155	-62.4	181	219	-42.9
Income tax	-4	44.9	2.3	11.3	3.7	28.3	9.2	52.9	74.8	15.1
Net income to minority interests	-0.5	0.3	-0.4	0.8	1.4	-10.2
Net income	42.8	48.6	34.7	35.8	37.1	-173	-74.1	126	142	-60.1
EBITDA	72	117	82.8	97.2	92.8	-106	4.3	254	292	23.7
EPS, basic	2.61	2.95	2.10	2.15	2.21	-10.29	-4.38	7.35	8.16	-3.40
EPS, diluted	2.61	2.94	2.09	2.14	2.21	-10.29	-4.38	7.24	8.04	-3.40
Shares, basic (weighted)	16.4	16.4	16.5	16.6	16.8	16.8	16.9	17.1	17.4	17.7
Shares, diluted (weighted)	16.4	16.5	16.6	16.7	16.8	16.8	16.9	17.4	17.7	17.7
Dividend per share	1.17	1.20	1.23	1.26	1.27	1.29	1.29	1.30	1.38	1.43

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	43.2	220	83.7	64.6	151	65.5	59	78.8	96.6	123
Receivables	375	453	466	468	412	457	524	498	488	490
Inventory	352	412	534	560	509	781	800	816	754	634
Other current assets	39.3	46.4	48.8	63	56.8	46.1	76.6	98.1	94	99.9
Total current assets	810	1,131	1,132	1,156	1,130	1,350	1,459	1,490	1,433	1,347
Property, plant and equipment	255	265	296	309	340	331	310	314	307	329
Lease right-of-use assets				76.3	71.3	68.8	57.2	75.1	96	141
Goodwill	50.7	59.1	108	107	115	56.5	51.3	53.3	54.6	55.7
Intangible assets	56.2	56.1	67.7	60.1	58.5	50.7	42.7	39.3	33.1	32.3
Other non-current assets	25.3	37.4	36.4	105	112	107	102	123	139	192
Total assets	1,287	1,648	1,742	1,847	1,860	1,970	2,026	2,079	2,029	2,021
Accounts payable	242	386	416	402	412	517	586	524	448	396
Accrued liabilities	43.7	51.7	56.3	66.1	46.1	57.1	64.4	87.4	106	101
Deferred revenue			37.6	49.1	41.7	49.7	140	77.9	56.8	47
Short-term debt	50	68.4	78.1	74.6	83.1	257	286	253	199	242
Total current liabilities	577	692	776	817	756	1,105	1,343	1,219	1,058	1,002
Long-term debt	82.2	216	210	205	206	262	267	241	242	252
Lease liabilities				62.3	57.7	56.3	45.9	62	85.2	128
Other non-current liabilities	89.7	109	130	188	182	169	138	149	189	224
Total liabilities	817	1,076	1,183	1,270	1,208	1,587	1,801	1,672	1,535	1,528
Total debt	185	271	284	266	261	490	523	467	417	473
Paid-in capital	320	324	322	321	313	315	298	328	351	355
Retained earnings	360	389	407	427	443	249	153	256	375	289
Treasury stock	-36.9	-31.5	-24.1	-15.9	-6	-4.5	0	0	-13.6	-14.4
Other comprehensive income	-179	-116	-178	-189	-133	-202	-246	-194	-237	-158
Shareholders' equity	464	566	527	544	617	357	204	390	475	472
Minority interests	6.6	6.9	32.1	32.7	34.2	25.8	6.5	2.1	4.1	4.3
Total equity	470	572	560	577	651	383	211	392	479	476
Total liabilities and equity	1,287	1,648	1,742	1,847	1,860	1,970	2,026	2,079	2,029	2,021

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	42.3	48.9	34.3	36.6	38.5	-183	-71.6	128	144	-58
Depreciation and amortization	39.1	42.8	44	43.3	42.9	46.2	43.4	45.1	47.6	45.8
Stock-based compensation	4.9	8.8	5.7	8.2	1.3	4	6.4	29.3	23.6	7.5
Deferred income tax	-7.4	8.1	-3.2	-6.8	-2.5	19.8	-0.1	-1.1	-8.2	-1.5
Change in receivables	-27.5	-44	58	-9.6	68.9	-54.6	-89.5	26.8	-14.2	25.3
Change in inventory	-14.9	-43.6	-125	-37.9	66.6	-290	-39.1	-4.3	35.3	157
Change in payables	-53.8	125	23.3	1.9	4.3	130	78.7	-81.4	-55.9	-79.9
Cash from operations	-48.9	165	67.6	76.7	167	-254	40.6	151	171	86.1
Capital expenditures	-42.7	-41	-38.8	-49.7	-51.7	-44.3	-28.8	-35.4	-47.8	-62.5
Acquisitions	-116	-1	-78	0	0	0	0	0	2.2	2.6
Sales and maturities of investments				0	0	15.7	0.5	1.1	0
Cash from investing	-145	-47.3	-111	-42	-43.7	-24.5	-35.4	-34.5	-47.6	-62.7
Debt issued	40.1	266	71.5	67.6	72.2	120	135	139	169	148
Debt repaid	-56.5	-75.9	-144	-92.1	-83.7	-62	-97.6	-161	-199	-171
Share buybacks	0						0	0	14	4.5
Dividends paid	-19.2	-19.8	-20.4	-21	-21.3	-21.6	-21.8	-22.3	-24	-25.4
Cash from financing	77.9	53.1	-87.6	-51.6	-40.6	194	-10.9	-101	-100	-0.8
Exchange rate effect	4.2	6.4	-5.5	-2.2	4.2	-1.5
Net change in cash	-112	177	-136	-19.1	86.8	-85.9	-6.5	19.8	17.8	26.6
Free cash flow	-91.6	124	28.8	27	115	-298	11.8	115	123	23.6
Interest paid	5.6	13.6	15	19.5	13	14.5	26.6	36.4	34.5	30.4
Income taxes paid	19.3	14	16.8	12.5	15.3	11.7	13.1	52.9	85.6	36.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $30.97 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	15.4%	Gross profit / revenue.
Operating margin	-2.3%	Operating income / revenue.
EBITDA margin	-1.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-2.9%	Pre-tax income / revenue.
Net margin	-3.3%	Net income / revenue.
FCF margin	0.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.2%	Cash from operations / revenue.
Return on equity (ROE)	-30.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.1%	Net income / average total assets.
Return on invested capital (ROIC)	-8.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.2%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-12.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-29.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	13.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-109.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-91.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	76.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-23.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-142.2%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-142.3%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-49.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	28.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-12.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-80.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	26.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-27.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	2.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	32.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-5.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.28x	Current assets / current liabilities.
Quick ratio	0.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.23x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	24.9%	Total debt / total assets.
Liabilities / assets	78.7%	Total liabilities / total assets.
Net debt	$407.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-2.66x	Operating income / interest expense.
Working capital	$277.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	4.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$304.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.82x	Revenue / average total assets.
Fixed asset turnover	10.7x	Revenue / average property, plant and equipment.
Inventory turnover	4.73x	Cost of revenue / average inventory.
Days inventory	77 days	365 x average inventory / cost of revenue.
Receivables turnover	7.24x	Revenue / average receivables.
Days sales outstanding	50 days	365 x average receivables / revenue.
Days payables	51 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	77 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	80.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$6.53	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$195.98	Revenue / diluted weighted shares.
FCF per share	$0.83	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.32	Cash from operations / diluted weighted shares.
Book value per share	$21.77	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.98	Tangible book value / shares outstanding.
Cash per share	$4.05	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	174.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	55.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$555.3M	Share price x shares outstanding.
Enterprise value	$963.0M	Market cap + total debt - cash - short-term investments.
P/S	0.16x	Market cap / revenue.
P/B	1.42x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.83x	Market cap / tangible book value, when positive.
P/FCF	37.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.17x	Market cap / cash from operations, when positive.
EV/Sales	0.27x	Enterprise value / revenue.
EV/FCF	65.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.7%	Free cash flow / market cap.
Earnings yield	-21.1%	Net income / market cap (the inverse of P/E).
Dividend yield	4.6%	Dividends paid over the period / market cap.
Shareholder yield	6.1%	(Dividends paid + share buybacks) / market cap.

What was HYSTER-YALE, INC.'s revenue in fiscal 2025?

HYSTER-YALE, INC. reported revenue of $3.77B for fiscal 2025, 12.5% lower than the year before.

Was HYSTER-YALE, INC. profitable in fiscal 2025?

No. It reported a net loss of $60.1M.

How much free cash flow did HYSTER-YALE, INC. generate in fiscal 2025?

Cash from operations of $86.1M minus capital expenditures of $62.5M left free cash flow of $23.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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