NYSE:HY

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Hyster-Yale Materials Handling

Executive Summary

Hyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide.


Snowflake Analysis

Proven track record and fair value.

Share Price & News

How has Hyster-Yale Materials Handling's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: HY has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.2%

HY

-1.0%

US Machinery

2.2%

US Market


1 Year Return

-30.0%

HY

7.1%

US Machinery

16.2%

US Market

Return vs Industry: HY underperformed the US Machinery industry which returned 7.3% over the past year.

Return vs Market: HY underperformed the US Market which returned 15.9% over the past year.


Shareholder returns

HYIndustryMarket
7 Day-1.2%-1.0%2.2%
30 Day3.3%5.4%4.9%
90 Day16.5%22.6%17.8%
1 Year-28.1%-30.0%9.2%7.1%18.7%16.2%
3 Year-39.4%-43.2%17.9%10.2%41.1%32.0%
5 Year-36.7%-42.9%63.1%43.5%74.5%55.7%

Price Volatility Vs. Market

How volatile is Hyster-Yale Materials Handling's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hyster-Yale Materials Handling undervalued compared to its fair value and its price relative to the market?

13.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: HY ($38.5) is trading above our estimate of fair value ($16.64)

Significantly Below Fair Value: HY is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HY is good value based on its PE Ratio (13.5x) compared to the US Machinery industry average (22.8x).

PE vs Market: HY is good value based on its PE Ratio (13.5x) compared to the US market (18x).


Price to Earnings Growth Ratio

PEG Ratio: HY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: HY is good value based on its PB Ratio (1.3x) compared to the US Machinery industry average (2.1x).


Next Steps

Future Growth

How is Hyster-Yale Materials Handling forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HY's earnings are forecast to decline over the next 3 years (-6.1% per year).

Earnings vs Market: HY's earnings are forecast to decline over the next 3 years (-6.1% per year).

High Growth Earnings: HY's earnings are forecast to decline over the next 3 years.

Revenue vs Market: HY's revenue (1% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: HY's revenue (1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if HY's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Hyster-Yale Materials Handling performed over the past 5 years?

-22.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: HY has high quality earnings.

Growing Profit Margin: HY's current net profit margins (1.5%) are higher than last year (0.7%).


Past Earnings Growth Analysis

Earnings Trend: HY's earnings have declined by 22% per year over the past 5 years.

Accelerating Growth: HY's earnings growth over the past year (104.6%) exceeds its 5-year average (-22% per year).

Earnings vs Industry: HY earnings growth over the past year (104.6%) exceeded the Machinery industry -13.8%.


Return on Equity

High ROE: HY's Return on Equity (9%) is considered low.


Next Steps

Financial Health

How is Hyster-Yale Materials Handling's financial position?


Financial Position Analysis

Short Term Liabilities: HY's short term assets ($1.2B) exceed its short term liabilities ($853.0M).

Long Term Liabilities: HY's short term assets ($1.2B) exceed its long term liabilities ($453.0M).


Debt to Equity History and Analysis

Debt Level: HY's debt to equity ratio (55.2%) is considered high.

Reducing Debt: HY's debt to equity ratio has increased from 4.8% to 55.2% over the past 5 years.

Debt Coverage: HY's debt is not well covered by operating cash flow (17.8%).

Interest Coverage: HY's interest payments on its debt are well covered by EBIT (3.5x coverage).


Balance Sheet


Next Steps

Dividend

What is Hyster-Yale Materials Handling current dividend yield, its reliability and sustainability?

3.30%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: HY's dividend (3.3%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: HY's dividend (3.3%) is low compared to the top 25% of dividend payers in the US market (4.54%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, HY has been paying a dividend for less than 10 years.

Growing Dividend: HY's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.4%), HY's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.6yrs

Average management tenure


CEO

Al Rankin (79 yo)

7.92yrs

Tenure

US$4,607,034

Compensation

Mr. Alfred Marshall Rankin, Jr., also known as Al, serves as the Non-Executive Chairman of NACCO Industries, Inc. since September 2017 and since prior to 2013 Chairman of NACCO’s principal subsidiary, Nort ...


CEO Compensation Analysis

Compensation vs Market: Al's total compensation ($USD4.61M) is above average for companies of similar size in the US market ($USD3.14M).

Compensation vs Earnings: Al's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Alfred Rankin
Chairman7.92yrsUS$4.61m1.8%
$ 11.5m
Kenneth Schilling
Senior VP & CFO7.92yrsUS$974.79k0.27%
$ 1.7m
Charles Pascarelli
Senior VP & President of Americas - Hyster-Yale Groupno dataUS$1.24m0.14%
$ 871.9k
Rajiv Prasad
President & CEO of Hyster-Yale Group0.58yrUS$1.60m0.16%
$ 1.0m
Suzanne Taylor
Senior VP4.25yrsno data0.13%
$ 840.2k
Stephen Karas
VP & President of Asia-Pacific0.58yrno data0.053%
$ 336.5k
Anthony Salgado
Chief Operating Officer of Hyster-Yale Group Inc.1.08yrsno data0.052%
$ 333.6k
Brian Frentzko
VP & Treasurer7.92yrsno data0.031%
$ 200.1k
Jennifer Langer
VP & Controller7.92yrsno data0.052%
$ 329.5k
Lucien Robroek
Chief Executive Officer of Nuvera Fuel Cells1.75yrsno datano data
Roberto Scotti
President & CEO of Bolzoni S.p.A.4.58yrsno datano data
Harry Sands
Senior VP and MD of Europe5.17yrsno datano data

4.6yrs

Average Tenure

59.5yo

Average Age

Experienced Management: HY's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alfred Rankin
Chairman7.92yrsUS$4.61m1.8%
$ 11.5m
Eugene Wong
Independent Director8.58yrsUS$218.45k0.19%
$ 1.2m
John Butler
Director8.58yrsUS$210.49k0.41%
$ 2.6m
Dennis LaBarre
Independent Director8.58yrsUS$266.36k0.18%
$ 1.2m
Britton Taplin
Independent Director8.58yrsUS$204.13k0.63%
$ 4.0m
James Bemowski
Independent Director2.25yrsUS$214.13k0.027%
$ 174.8k
John Jumper
Independent Director8.58yrsUS$249.78k0.076%
$ 485.3k
Carolyn Corvi
Independent Director8.58yrsUS$256.50k0.072%
$ 460.5k
Claiborne Rankin
Director8.58yrsUS$204.13k1.55%
$ 9.9m
David B. Williams
Director0.50yrno data0.041%
$ 263.3k
H. Poor
Independent Director3.42yrsUS$218.05k0.038%
$ 242.1k
Edward Eliopoulos
Director0.25yrno data0.0021%
$ 13.5k

8.6yrs

Average Tenure

68yo

Average Age

Experienced Board: HY's board of directors are considered experienced (8.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Hyster-Yale Materials Handling, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hyster-Yale Materials Handling, Inc.
  • Ticker: HY
  • Exchange: NYSE
  • Founded: 1991
  • Industry: Industrial Machinery
  • Sector: Capital Goods
  • Market Cap: US$639.300m
  • Shares outstanding: 16.79m
  • Website: https://www.hyster-yale.com

Number of Employees


Location

  • Hyster-Yale Materials Handling, Inc.
  • 5875 Landerbrook Drive
  • Suite 300
  • Cleveland
  • Ohio
  • 44124-4069
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HYNYSE (New York Stock Exchange)YesClass A Common StockUSUSDSep 2012
HYEADB (Deutsche Boerse AG)YesClass A Common StockDEEURSep 2012

Biography

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 co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/04 23:33
End of Day Share Price2020/08/04 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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 here.