HY screens as cheap with meaningful analyst-implied upside, but quality well below the engine's investment floor, declining revenue, failed momentum, and a mixed earnings/insider picture argue for exiting rather than holding the position.
Thesis pillars
- Attractive Valuation With Analyst Upside→Stable
- Quality Below Investment Floor→Stable
- Declining Revenue Industrial Cyclicality→Stable
- +2 more pillars — see the Why tab for full reasoning
Hyster-Yale, Inc. (HY) Stock Analysis
Inst Constrain edge
Industrials · Farm & Heavy Construction Machinery
Sell if holding. Engine safety override at $31.92: Quality below floor (1.3 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.1/10 and A.R:R 2.0:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum; Below long-term trend.
Hyster-Yale designs, manufactures and services lift trucks under the Hyster, Yale and Nuvera brands, plus Bolzoni-branded lift truck attachments, sold across Americas, EMEA and JAPIC segments through independent dealers in 111 countries. Lift trucks generated 71% of 2025... Read more
Sell if holding. Engine safety override at $31.92: Quality below floor (1.3 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.1/10 and A.R:R 2.0:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum; Below long-term trend. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.1/10, moderate confidence.
Passes 7/8 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 34d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: aggressive.
About Hyster-Yale, Inc.
About Hyster-Yale, Inc.
Hyster-Yale generated 71% of 2025 revenue from lift truck sales, with parts contributing 16%, service and rental 8%, and the Bolzoni attachments business 5%, alongside a $1.28 billion order backlog as of December 31, 2025. The Cleveland-based manufacturer employs approximately 7,500 people across eleven lift truck plants and seven Bolzoni facilities worldwide, distributing through independent dealers in 111 countries.
The company's revenue splits between original-equipment lift truck sales and a recurring aftermarket business of parts, rentals, and fleet management, while a direct sales program to major global accounts with centralized purchasing accounted for 28% of new lift truck revenues in 2025, up from 19% in 2023. Independent Hyster and Yale dealers handle local parts and service support and receive installation fees for major-account deliveries. Steel is a significant raw material input, purchased near each manufacturing site, alongside engines, axles, transmissions, tires, and cast-iron counterweights; the company depends on a limited number of suppliers for critical components such as diesel, gasoline, and fuel cell engines. U.S. dealer and customer financing runs through a joint venture with Wells Fargo Financial Leasing, in which Hyster-Yale holds a 20% equity stake and provides repurchase or recourse obligations on certain floor-plan loans. Demand tracks the capital-investment cycle of industrial, retail, and logistics customers, causing order volumes to swing with broader economic conditions.
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Hyster-Yale's tariff exposure sharpened in 2025, when new U.S. duties on imported inputs added roughly $100 million in tariff-related costs on inventory purchases across a global manufacturing footprint spanning the U.S., Northern Ireland, China, Mexico, Brazil, Japan, Italy, and Vietnam. In February 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act lack legal authorization, though the decision left open whether or how any refunds would be processed and did not touch tariffs imposed under other authorities. Because the company depends on a limited number of suppliers for diesel, gasoline, and fuel-cell engines plus cast-iron counterweights, further tariff escalation or supplier disruption could pressure margins if cost increases can't be passed through to dealers and direct-program customers.
See also: Industrials · Farm & Heavy Construction Machinery
From Hyster-Yale, Inc.'s most recent 10-K filing, extracted July 6, 2026.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomerdirect sales program28%10-K Item 1: 'a direct sales program to major customers or global accounts ... This program accounted for 28%, 22% and 19% of new lift truck revenues in 2025, 2024 and 2023, respectively.'
- MEDIUMCommoditysteel10-K Item 1: 'Steel is a significant raw material required by the Company's manufacturing operations and is generally purchased from steel producing companies'
- MEDIUMSupplierlimited number of suppliers10-K Item 1A: 'The Company depends on a limited number of suppliers for some of its critical components, including diesel, gasoline and fuel cell engines and cast-iron counterweights'
- MEDIUMcounterpartyWells Fargo Financial Leasing joint venture10-K Item 1: 'Wells Fargo Financial Leasing, Inc. ... to provide dealer and customer financing of new lift trucks in the United States.'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
4 floor-breakers·1 ceiling hit
Unprofitable operations — net margin -2.7%. Quality floor flags this regardless of sector context.static
Price action weak — below key moving averages, no momentum carry. Needs a base before trend-continuation setups apply.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
No near-term catalyst priced in. Thesis progression will come from fundamentals grinding, not event reaction.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $31.92: Quality below floor (1.3 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.1/10 and A.R:R 2.0:1 is above the 1.5:1 BUY gate. Specifically: Below-average business quality; Negative price momentum; Below long-term trend. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $30.36. Score 5.1/10, moderate confidence.
Take-profit target: $39.10 (+22.5% upside). Prior stop was $30.36. Stop-loss: $30.36.
Quality below floor (1.3 < 4.0).
Hyster-Yale, Inc. trades at a P/E of N/A (forward 16.0). TrendMatrix value score: 9.3/10. Verdict: Sell.
10 analysts cover HY with a consensus score of 4.2/5. Average price target: $46.
What does Hyster-Yale, Inc. do?Hyster-Yale designs, manufactures and services lift trucks under the Hyster, Yale and Nuvera brands, plus...
Hyster-Yale designs, manufactures and services lift trucks under the Hyster, Yale and Nuvera brands, plus Bolzoni-branded lift truck attachments, sold across Americas, EMEA and JAPIC segments through independent dealers in 111 countries. Lift trucks generated 71% of 2025 revenue, with parts, service and Bolzoni contributing the remainder, and a direct sales program to major global accounts made up 28% of new lift truck revenue. Manufacturing spans eleven lift truck plants and seven Bolzoni facilities worldwide.