Hyster-Yale Inc
hyster-yale.comWhat Do They Do?
Builds and sells lift trucks, attachments and related parts and service solutions for retail, industrial and logistics businesses.
10-K for FY2025, filed Mar 3, 2026Hyster-Yale, Inc. ("Hyster-Yale" or the "Company") and its subsidiaries, including its operating companies, Hyster-Yale Materials Handling…View ↗
Through HYMH, the Company designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, attachments, parts…View ↗
The Company distributes lift trucks and attachments primarily through two channels: independent dealers and a direct sales program to major…View ↗
How Do They Make Money?
The company is generally paid soon after lift trucks or parts ship or trucks are delivered; customers also pay for maintenance and extended-warranty services over the period those services are provided.
10-K for FY2025, filed Mar 3, 2026Revenue is recognized when obligations under the terms of a contract with the customer are satisfied, which occurs when control of the…View ↗
The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards…View ↗
Dealer sales are recognized when the Company transfers control based on the shipping terms of the contract, which is generally when the…View ↗
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10-K for FY2025, filed Mar 3, 2026
FY2025 revenue by product or service (Revenue from Contract with Customer, Excluding Assessed Tax) ↗
$3.8B
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10-K for FY2025, filed Mar 3, 2026
$3.8B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Other revenue
|
30%
FY2022: 29%
|
Other revenue, FY2025
$384.1M Sources
|
|
Aftermarket sales
|
70%
FY2022: 71%
|
Aftermarket sales, FY2025
$883.3M Sources
|
Who Are Their Customers?
Independent retail dealers sell its lift trucks, parts and services to end users in retail, industrial and logistics businesses. The company also sells directly to large customers with centralized purchasing.
10-K for FY2025, filed Mar 3, 2026The Company distributes lift trucks and attachments primarily through two channels: independent dealers and a direct sales program to major…View ↗
Direct Customer SalesView ↗
The Company operates a direct sales program to major customers or global accounts for both Hyster® and Yale®. This program focuses on large…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $60.1M in FY2025, but brought in more cash than it spent: $23.6M of free cash flow.
10-K for FY2025, filed Mar 3, 2026
−$22.1MView ↗
10-K for FY2025, filed Mar 3, 2026
−$60.1MView ↗
10-K for FY2025, filed Mar 3, 2026
$23.6MView ↗
How Are They Changing?
Growing. Revenue grew 23% in 4 years, from $3.1B in FY2021 to $3.8B in FY2025, about 5% a year.
Nuvera integrated into lift truck business
The older report describes Nuvera as a separate alternative-power technology company selling hydrogen fuel-cell stacks and engines; the latest says it was merged into HYMH and its work is presented within the Americas segment.
10-K for FY2022, filed Feb 27, 2023 10-K for FY2025, filed Mar 3, 2026The Company operates Nuvera Fuel Cells, LLC ("Nuvera"). Nuvera is an alternative-power technology company focused on the design…View ↗
During 2025, the Company announced a strategic business realignment of Nuvera Fuel Cells, LLC ("Nuvera") designed both to increase…View ↗
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