HY:NYSEHyster-Yale, Inc. Analysis

Hyster‑Yale (HY) posted a disappointing Q1 2026, with revenue down 12.7% YoY to $795.2 M and a non‑GAAP loss of $1.64 per share, missing consensus expectations. Margins remain weak – gross margin is only 15.9% and operating margin is negative – while the balance sheet shows a high leverage ratio (debt‑to‑equity > 110%). Technically, the stock trades at $35.35, just below the 20‑day SMA (34.81) but under the 50‑day SMA (36.21), with a neutral trend, an RSI of 49.6 and a marginally bullish MACD histogram.
Despite the earnings pain, the forward PE of 17.1 is well below the industry average of 30.4, the price‑to‑book is 1.47, and the dividend yield stands at 4.09% with a modest payout ratio of about 10%, suggesting the dividend remains sustainable. The DCF model implies roughly 30% upside potential, yet the stock carries a high beta (1.6) and 30‑day volatility of 54.8%, indicating substantial price swings. Overall, the company is in a turnaround phase, with transformation initiatives targeting product evolution and cost reduction, but short‑term headwinds from a revenue slump and tariff pressures dominate the risk profile.