Hyliion Holdings Future Growth
Future criteria checks 2/6
Hyliion Holdings is forecast to grow earnings and revenue by 45.7% and 55.7% per annum respectively while EPS is expected to grow by 47.7% per annum.
Key information
45.7%
Earnings growth rate
47.66%
EPS growth rate
| Electrical earnings growth | 18.4% |
| Revenue growth rate | 55.7% |
| Future return on equity | n/a |
| Analyst coverage | Low |
| Last updated | 17 Jun 2026 |
Recent future growth updates
Recent updates
Narrative Update • Jun 26
HYLN: KARNO Commercialization Plans Expected To Support Higher Future Earnings Multiple
Analysts have lifted their Hyliion Holdings price target from $5.00 to $7.00, citing expectations that the transition of its Karno power module from development to commercialization over the next year, along with its potential fuel flexibility and efficiency characteristics, could support a higher fair value and justify a richer future P/E multiple despite adjustments to discount rate, revenue growth, and profit margin assumptions. What's in the News for Hyliion Holdings Short seller Pelican Way Research released a critical report questioning Hyliion Holdings' US$133 million letter of intent with VFG Holdings, alleging limited operations and financial capacity at VFG, and raising concerns about Hyliion's capital allocation and executive compensation.
New Narrative • Jun 25
Military Contracts And Data Center Demand Will Drive Long Term Upside Potential
Catalysts About Hyliion Holdings Hyliion Holdings focuses on developing and commercializing the KARNO power module, a fuel flexible distributed generation solution for commercial, data center and military applications. What are the underlying business or industry changes driving this perspective?Analysis Article • Jun 20
Hyliion Holdings (HYLN) Stock Could Be 62% Overvalued After Navy DARPA Testing News
Hyliion Holdings (HYLN) is back in focus after announcing a collaboration with the U.S. Navy’s Office of Naval Research and DARPA to test its KARNO power module, along with renewed attention from Wall Street. See our latest analysis for Hyliion Holdings. Hyliion Holdings has attracted fresh attention as the U.S. Navy and DARPA collaboration and the recent Buy rating coincide with strong momentum, including a 30 day share price return of 92.86% and a very large 1 year total shareholder return...
New Narrative • Jun 10
Military Power Reliance And Data Center Delays Will Restrain Future Prospects
Catalysts About Hyliion Holdings Hyliion Holdings develops and sells KARNO fuel flexible power modules for military and data center customers. What are the underlying business or industry changes driving this perspective?Seeking Alpha • Sep 13
Hyliion Holdings: Still Early Innings For The Company's KARNO Generator Technology - Hold
Summary Hyliion has shifted focus from electric powertrains to its fuel-agnostic KARNO power generator solution, a technology acquired from a division of GE two years ago. With management having shifted the narrative toward the company's alleged AI data center opportunity, the stock has attracted a new batch of speculative investors in recent months. However, the KARNO generator remains in beta development as of today, with early deployments expected by the end of the year and revenues ramping slowly in 2025. Given ample competition from both conventional and fuel cell-powered solutions, successful commercialization won't be an easy task. With liquidity sufficient to carry the company well into 2028, I am reiterating my "Hold" rating on Hyliion's shares. Read the full article on Seeking AlphaAnalysis Article • Sep 13
Is Hyliion Holdings (NYSE:HYLN) In A Good Position To Invest In Growth?
Just because a business does not make any money, does not mean that the stock will go down. For example, although...Seeking Alpha • Jun 26
Hyliion: Strong Balance Sheet But Expect Cash Burn To Continue
Summary Hyliion shares have seen strong price appreciation since the company’s strategic pivot away from its powertrain business. The company has recently achieved success with orders for its KARNO generator, which has the potential to tap into a large TAM. Despite having a strong balance sheet and reduced cash burn, the risk of failure in commercialization and the absence of a clear path to profitability make this investment too risky. Read the full article on Seeking AlphaAnalysis Article • Apr 07
Is Hyliion Holdings (NYSE:HYLN) In A Good Position To Invest In Growth?
Just because a business does not make any money, does not mean that the stock will go down. For example, although...Seeking Alpha • Jan 26
Hyliion: Upgrading On Vastly Reduced Cash Burn And Share Buyback Announcement
Summary Hyliion has shifted its focus from electric powertrains to its recently acquired, fuel-agnostic KARNO power generator solution with early deployments expected towards the end of the year. While management claims a number of advantages, the KARNO generator is likely to face stiff competition from conventional and fuel cell-powered solutions. After a steep sell-off following the announcement, the company's shares have almost doubled over the past month due to vastly increased runway and a surprise $20 million share buyback authorization. Even after the recent rally, Hyliion's enterprise value is still 25% below the company's projected year-end cash position with the market assigning a negative value to the new core business right now. With sufficient liquidity to fund the business for many years to come and repurchases likely to provide additional support to the stock, I am upgrading the company's shares from "Sell" to "Hold". Read the full article on Seeking AlphaSeeking Alpha • Oct 11
Hyliion Holdings: Sell On Decision To Give Up On Core Electric Powertrain Business
Summary Market participants have been caught flat-footed by the company's decision to pursue strategic alternatives to its core electric powertrain business and refocus on its recently acquired KARNO stationary power generator solution. With KARNO still in the design phase, management's timeline for early field deployments in H2/2024 looks aggressive. In addition, stationary power is a crowded field already, with KARNO likely to face stiff competition from leading fuel cell players. Assuming a sale or wind-down of the electric powertrain business, the move has the potential to extend Hyliion's cash runway quite meaningfully. However, with the KARNO stationary power solution still in the design phase, I would expect most analysts to throw in the towel on the stock regardless of the company's substantial cash balance. Consequently, I am downgrading the stock from "Hold" to "Sell" and would advise investors to consider selling existing positions and moving on. Read the full article on Seeking AlphaSeeking Alpha • Aug 25
Hyliion Holdings: Decent Cash Position But Ambitious Near-Term Targets - Avoid
Summary Electrified powertrain solutions developer Hyliion Holdings reported another quarter with immaterial revenue and sizeable cash burn. Despite field trial delays and certifications not yet complete, management guided for a meaningful number of Hypertruck sales until the end of the year, which might prove aggressive. The company ended the quarter with $354 million in cash. At the current rate of cash usage, Hyliion would have runway until the end of 2025. While I remain skeptical on the commercial viability of the company's product offerings, Hyliion's still decent cash position is keeping me from assigning an outright "Sell" rating for now. That said, investors should abstain from initiating or adding to existing positions until the company has shown its ability to execute on management's ambitious targets. Read the full article on Seeking AlphaSeeking Alpha • Jun 02
Hyliion Holdings: Accelerated Commercialization
Summary Hyliion Holdings Corp. is well-positioned for growth in the electric vehicle market, with strong demand from fleet operators and favorable regulations supporting its powertrain solutions. The company is actively working to improve its margins and manage cash burn, with a focus on cost reduction, increased production, and renegotiating contracts. Despite risks such as increased competition and supply chain challenges, Hyliion's explosive revenue growth and strategic initiatives make it an attractive high-risk, high-reward investment option. Read the full article on Seeking AlphaSeeking Alpha • Dec 08
Hyliion Holdings: Interesting Technology, But No Deal
Summary HYLN utilizes battery systems, control software, and data analytics, combined with fully integrated electric motors and power electronics, to produce electrified powertrain systems for Class 8 commercial vehicles. The risks are high as they move towards the capital-intensive delivery of their first 200 trucks by the end of 2024. HYLN acquired hydrogen and fuel-agnostic generator technology from GE for $15M in cash and $22M in stock. They updated full-year 2022 guidance to include revenue of approximately $2 million and operating expenses of approximately $130 million. No profit is expected for at least the next two years. Investment Thesis The Hyliion Holdings Corp. (HYLN) story is interesting, but there are better companies for investment. HYLN may eventually turn a profit, but the risks are too high for the potential reward as they move towards the capital-intensive delivery of their first 200 trucks by the end of 2024. Hyliion Holdings Corp. Hyliion Holdings Corp. provides electrified powertrain solutions for the commercial vehicle industry. The Company is focused on reducing the transportation sector's carbon intensity and greenhouse gas emissions by delivering electrified powertrain solutions for Class 8 commercial vehicles. It utilizes its battery systems, control software, and data analytics, combined with fully integrated electric motors and power electronics, to produce electrified powertrain systems. They offer a Hybrid system, designed as an add-on to the trucks' electric powertrain, which can augment power needs. They also provide the Hypertruck, a complete powertrain option that is fully electric drive and uses an onboard generator to recharge the batteries as the vehicle is in operation. www.hyliion.com/ HYLN acquired hydrogen and fuel-agnostic generator technology from GE for $15M in cash and $22M in stock. www.hyliion.com/ The Karno generator uses heat to produce electricity. www.hyliion.com/ This generator can operate with a variety of different fuels. www.hyliion.com/ With an in-house battery lab, Hyliion intends to design, develop and sell advanced battery systems to customers for use in their own applications. www.hyliion.com/ HYLN generated only $500K in revenue from hybrid and full truck sales in the third quarter with 200 employees. They are 32.9% owned by institutions, with 9.5% short interest. Their return on equity is -34.0%, and they have a -33.5% return on invested capital. The free cash flow yield per share is -25.4%, and their buyback yield per share is 0%. Their Piotroski F-score is two, indicating a weak company. They have a price-to-book ratio of 1.1. They have $455 million of cash and marketable investments, but their net income is -$153M for the trailing twelve months. Q3 Quarterly Results & Full-Year Outlook HYLN announced third-quarter results in its press release. Third-quarter revenue was $0.5 million from Hybrid and full truck sales, with approximately $1.3 million in a backlog of Hybrid systems. They updated full-year 2022 guidance to include revenue of roughly $2 million and operating expenses of about $130 million. The executive commentary on the conference call included the following: “We reached multiple milestones in the third quarter, including the start of controlled fleet trials for the Hypertruck ERX and our acquisition from GE Additive of the KARNO generator technology, a revolutionary hydrogen and fuel-agnostic generator that will be central to our long-term product roadmap,” said Thomas Healy, Hyliion’s founder and chief executive officer. “Additionally, trucks with the Hypertruck ERX system are now fully eligible under the Inflation Reduction Act, which became law in August, for a 30% tax credit of up to $40,000. Incentives like this can reduce up-front customer costs and enable an easier transition to electrification technology.” “We now have filled our Founders Program and have committed orders for our first 200 production slots. Additionally, we have nearly 2,000 reservations in the backlog. As we move towards commercialization, we anticipate starting production in late 2023 and plan to have all 200 of these first trucks delivered to fleets by the end of the first quarter of 2024.” www.hyliion.com/ Initially, powertrains will be installed at the Company’s Austin, Texas, facility and modification centers near OEM factories. As sales volumes increase, Hyliion’s strategy is to be a powertrain company, selling solutions directly to OEMs who integrate them into their production lines. The Company expects initial pricing, including the Inflation Reduction Act tax credit, for a truck with a Hypertruck ERX system to be in the high $300,000 range, less expensive than battery and fuel cell electric trucks. As such, buyers are expected to realize a total cost of ownership benefit over other electrified solutions and one that is comparable to a diesel truck when considering the truck purchase price and the cost of fuel. Truck availability continues to be a supply chain hurdle. www.hyliion.com/ Technical Some poor investors paid as much as $55 per share back in 2020. The current floor is $2.30, but it could go lower.Seeking Alpha • Nov 09
Hyliion Holdings reports Q3 earnings miss; reaffirms FY22 guidance range
Hyliion Holdings press release (NYSE:HYLN): Q3 GAAP EPS of -$0.36 misses by $0.14. Revenue of $0.5M misses by $0.16M from Hybrid and full truck sales with approximately $1.3M in backlog of Hybrid systems. For full-year 2022, Hyliion projects revenue of approximately $2 million vs. consensus of $1.92M from Hybrid sales and the sale of full trucks with Hybrid systems and expects its operating expenses to be ~$130M.Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 138 | -38 | -80 | -25 | 2 |
| 12/31/2027 | 38 | -66 | -90 | -55 | 3 |
| 12/31/2026 | 12 | -54 | -51 | -45 | 2 |
| 3/31/2026 | 6 | -52 | -64 | -45 | N/A |
| 12/31/2025 | 3 | -57 | -70 | -47 | N/A |
| 9/30/2025 | 4 | -58 | -76 | -48 | N/A |
| 6/30/2025 | 4 | -56 | -67 | -47 | N/A |
| 3/31/2025 | 2 | -54 | -69 | -48 | N/A |
| 12/31/2024 | 2 | -52 | -73 | -57 | N/A |
| 9/30/2024 | N/A | -67 | -79 | -68 | N/A |
| 6/30/2024 | 0 | -86 | -98 | -87 | N/A |
| 3/31/2024 | 0 | -110 | -114 | -106 | N/A |
| 12/31/2023 | 1 | -124 | -124 | -117 | N/A |
| 9/30/2023 | 2 | -124 | -133 | -126 | N/A |
| 6/30/2023 | 2 | -157 | -146 | -125 | N/A |
| 3/31/2023 | 2 | -155 | -141 | -121 | N/A |
| 12/31/2022 | 2 | -153 | -134 | -117 | N/A |
| 9/30/2022 | 1 | -154 | -131 | -114 | N/A |
| 6/30/2022 | 1 | -117 | -114 | -112 | N/A |
| 3/31/2022 | 1 | -107 | -101 | -99 | N/A |
| 12/31/2021 | 0 | -96 | -83 | -81 | N/A |
| 9/30/2021 | N/A | 276 | -64 | -62 | N/A |
| 6/30/2021 | N/A | 294 | -42 | -41 | N/A |
| 3/31/2021 | N/A | 313 | -31 | -30 | N/A |
| 12/31/2020 | N/A | 324 | -23 | -23 | N/A |
| 9/30/2020 | N/A | -35 | -21 | -21 | N/A |
| 6/30/2020 | N/A | -25 | -13 | -13 | N/A |
| 3/31/2020 | N/A | -16 | -12 | -12 | N/A |
| 12/31/2019 | N/A | -14 | N/A | -11 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HYLN is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: HYLN is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: HYLN is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: HYLN's revenue (55.7% per year) is forecast to grow faster than the US market (12.9% per year).
High Growth Revenue: HYLN's revenue (55.7% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if HYLN's Return on Equity is forecast to be high in 3 years time
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/02 22:05 |
| End of Day Share Price | 2026/07/02 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
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Analyst Sources
Hyliion Holdings Corp. is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Brian Johnson | Barclays |
| Mark Delaney | Goldman Sachs |
| Martin Malloy | Johnson Rice & Company, L.L.C. |