Hyster-Yale Materials Handling, Inc. (HY) Balance Sheet
HY balance sheet, 2025
December 31, 2025 · U.S. dollars$2.02B assets = $1.53B liabilities + $492.4M equity
Both columns are drawn to the same scale: what HY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HY financial health
Current ratio1.34
Adequate · current assets cover current liabilities 1.34×
Debt / equity0.82
Moderate leverage · $0.82 of debt for each $1 of equity
Equity / assets23.4%
Balanced · of assets funded by shareholders
Cash / debt32.0%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles4.4%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
HY balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.29B2016 | $2.02B2025 | +5.1%/yr | |
| Total liabilities | $816.7M2016 | $1.53B2025 | +7.2%/yr | |
| Shareholders’ equity | $463.8M2016 | $472.0M2025 | +0.2%/yr | |
| Cash & short-term investments | $43.2M2016 | $123.2M2025 | +12.3%/yr | |
| Total debt | $211.2M2016 | $384.7M2025 | +6.9%/yr | |
| Net cash (debt) | −$168.0M2016 | −$261.5M2025 | −$93.5M | |
| Working capital | $233.5M2016 | $345.2M2025 | +$111.7M | |
| Book value per share | $28.232016 | $26.642025 | −0.6%/yr | |
| Current ratio | 1.412016 | 1.342025 | −0.06 | |
| Debt / equity | 0.462016 | 0.822025 | +0.36 | |
| Shares outstanding | 16.4M2016 | 17.7M2025 | +0.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HY assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HY liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HY debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $123.2M | $96.6M | $78.8M | $59.0M | $65.5M | $151.4M | $64.6M | $83.7M | $220.1M | $43.2M |
| Cash & equivalents | $123.2M | $96.6M | $78.8M | $59.0M | $65.5M | $151.4M | $64.6M | $83.7M | $220.1M | $43.2M |
| Short-term investments | — | — | $5.6M | $5.9M | — | $80.0M | — | $600,000 | $400,000 | $0 |
| Receivables | $489.6M | $488.4M | $497.5M | $523.6M | $457.4M | $412.1M | $468.3M | $465.5M | $453.0M | $375.3M |
| Inventory | $634.3M | $754.3M | $815.7M | $799.5M | $781.0M | $509.4M | $559.9M | $533.6M | $411.9M | $352.2M |
| Other current assets | $99.9M | $94.0M | $98.1M | $76.6M | $46.1M | $56.8M | $63.0M | $48.8M | $46.4M | $39.3M |
| Total current assets | $1.35B | $1.43B | $1.49B | $1.46B | $1.35B | $1.13B | $1.16B | $1.13B | $1.13B | $810.0M |
| Property, plant & equipment (net) | $329.0M | $306.7M | $313.9M | $310.0M | $330.5M | $340.4M | $308.5M | $296.2M | $265.4M | $255.1M |
| Goodwill & intangible assets | $88.0M | $87.7M | $92.6M | $94.0M | $107.2M | $173.2M | $166.8M | $176.0M | $115.2M | $106.9M |
| Long-term investments | $58.2M | $55.5M | $56.8M | $59.4M | $71.7M | $80.2M | $80.0M | $75.6M | $81.9M | $45.9M |
| Other non-current assets | $198.4M | $146.0M | $125.7M | $104.1M | $110.7M | $136.0M | $136.1M | $62.7M | $54.0M | $69.2M |
| Total assets | $2.02B | $2.03B | $2.08B | $2.03B | $1.97B | $1.86B | $1.85B | $1.74B | $1.65B | $1.29B |
| Liabilities | ||||||||||
| Accounts payable | $401.2M | $447.8M | $523.5M | $585.8M | $517.0M | $412.0M | $401.5M | $415.5M | $385.8M | $242.4M |
| Short-term debt | $132.8M | $214.7M | $268.6M | $285.9M | $256.8M | $83.1M | $82.3M | $91.4M | $74.5M | $129.0M |
| Deferred revenue | $47.0M | $56.8M | $77.9M | $139.8M | $49.7M | $41.7M | $49.1M | $37.6M | $51.7M | $71.5M |
| Total current liabilities | $1.00B | $1.06B | $1.22B | $1.34B | $1.10B | $755.9M | $817.0M | $776.2M | $692.4M | $576.5M |
| Long-term debt | $251.9M | $241.9M | $241.3M | $267.0M | $261.7M | $206.1M | $204.7M | $210.1M | $216.2M | $82.2M |
| Lease obligations | $168.8M | $124.5M | $105.2M | — | — | — | — | — | — | — |
| Other long-term liabilities | $274.5M | $235.3M | $212.4M | $191.2M | $220.9M | $246.4M | $248.5M | $196.3M | $166.9M | $158.0M |
| Total liabilities | $1.53B | $1.54B | $1.67B | $1.80B | $1.59B | $1.21B | $1.27B | $1.18B | $1.08B | $816.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $324.0M | $319.8M |
| Retained earnings (deficit) | $289.1M | $374.6M | $256.3M | $152.7M | $248.6M | $443.2M | $427.4M | $407.3M | $389.1M | $360.3M |
| Treasury stock | — | — | — | — | −$4.5M | −$6.0M | −$15.9M | −$24.1M | −$31.5M | −$36.9M |
| Accumulated other comprehensive income | −$157.6M | −$237.0M | −$194.3M | −$246.2M | −$202.3M | −$133.1M | −$188.7M | −$177.5M | −$116.1M | −$179.4M |
| Minority interest | $20.4M | $19.0M | $16.9M | $20.7M | $25.8M | $34.2M | $32.7M | $32.1M | $6.9M | $6.6M |
| Total shareholders' equity | $472.0M | $475.1M | $389.9M | $204.4M | $357.1M | $616.9M | $544.3M | $527.4M | $565.5M | $463.8M |
| Key figures | ||||||||||
| Total debt | $384.7M | $541.8M | $571.9M | $552.9M | $518.5M | $289.2M | $287.0M | $301.5M | $290.7M | $211.2M |
| Net cash (debt) | −$261.5M | −$445.2M | −$493.1M | −$493.9M | −$453.0M | −$137.8M | −$222.4M | −$217.8M | −$70.6M | −$168.0M |
| Working capital | $345.2M | $375.4M | $271.5M | $115.8M | $245.4M | $373.8M | $338.8M | $355.4M | $439.0M | $233.5M |
| Tangible book value | $384.0M | $387.4M | $297.3M | $110.4M | $249.9M | $443.7M | $377.5M | $351.4M | $450.3M | $356.9M |
| Book value per share | $26.64 | $26.83 | $22.43 | $12.09 | $21.23 | $36.72 | $32.54 | $31.77 | $34.24 | $28.23 |
| Shares outstanding | 17.7M | 17.7M | 17.4M | 16.9M | 16.8M | 16.8M | 16.7M | 16.6M | 16.5M | 16.4M |
| Current ratio | 1.34 | 1.35 | 1.22 | 1.09 | 1.22 | 1.49 | 1.41 | 1.46 | 1.63 | 1.41 |
| Quick ratio | 0.61 | 0.55 | 0.47 | 0.43 | 0.47 | 0.75 | 0.65 | 0.71 | 0.97 | 0.73 |
| Debt / equity | 0.82 | 1.14 | 1.47 | 2.70 | 1.45 | 0.47 | 0.53 | 0.57 | 0.51 | 0.46 |
| Equity / assets | 23.4% | 23.4% | 18.8% | 10.1% | 18.1% | 33.2% | 29.5% | 30.3% | 34.3% | 36.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $72.6M | $81.8M | $123.2M | $71.1M | $66.9M | $77.2M | $96.6M | $75.6M | $66.5M | $62.2M | $78.8M | $78.2M |
| Cash & equivalents | $72.6M | $81.8M | $123.2M | $71.1M | $66.9M | $77.2M | $96.6M | $75.6M | $66.5M | $62.2M | $78.8M | $78.2M |
| Short-term investments | — | — | — | — | — | — | $74.1M | −$7.0M | $6.0M | $6.0M | $5.6M | $6.8M |
| Receivables | $484.8M | $471.2M | $489.6M | $520.6M | $512.1M | $506.1M | $488.4M | $542.5M | $578.7M | $520.5M | $497.5M | $512.0M |
| Inventory | $627.5M | $643.8M | $634.3M | $740.3M | $776.6M | $772.7M | $754.3M | $855.3M | $790.7M | $841.9M | $815.7M | $815.4M |
| Other current assets | $91.9M | $108.3M | $99.9M | $111.8M | $101.1M | $98.9M | $94.0M | $85.9M | $93.4M | $101.4M | $98.1M | $95.3M |
| Total current assets | $1.28B | $1.31B | $1.35B | $1.44B | $1.46B | $1.45B | $1.43B | $1.56B | $1.53B | $1.53B | $1.49B | $1.50B |
| Property, plant & equipment (net) | $326.8M | $327.5M | $329.0M | $320.6M | $316.4M | $313.0M | $306.7M | $316.9M | $311.0M | $311.9M | $313.9M | $298.7M |
| Goodwill & intangible assets | $85.8M | $85.6M | $88.0M | $88.5M | $89.3M | $84.2M | $87.7M | $94.5M | $87.5M | $89.3M | $92.6M | $90.8M |
| Long-term investments | $53.2M | $51.8M | $58.2M | $56.6M | $55.7M | $51.9M | $55.5M | $59.7M | $52.6M | $52.1M | $56.8M | $54.2M |
| Other non-current assets | $185.6M | $188.1M | $198.4M | $151.0M | $157.0M | $151.3M | $146.0M | $142.0M | $135.5M | $139.1M | $125.7M | $108.5M |
| Total assets | $1.93B | $1.96B | $2.02B | $2.06B | $2.08B | $2.06B | $2.03B | $2.17B | $2.12B | $2.12B | $2.08B | $2.05B |
| Liabilities | ||||||||||||
| Accounts payable | $414.3M | $399.9M | $401.2M | $472.0M | $465.2M | $464.0M | $447.8M | $527.9M | $506.7M | $565.9M | $523.5M | $540.2M |
| Short-term debt | $240.8M | $254.2M | $132.8M | $215.6M | $228.0M | $241.4M | $214.7M | $221.1M | $253.4M | $235.1M | $252.7M | $267.4M |
| Deferred revenue | $49.0M | $49.6M | $47.0M | $43.7M | $48.0M | $52.2M | $56.8M | $64.3M | $66.2M | $71.1M | $77.9M | $99.1M |
| Total current liabilities | $999.6M | $992.9M | $1.00B | $1.04B | $1.04B | $1.05B | $1.06B | $1.15B | $1.17B | $1.22B | $1.22B | $1.30B |
| Long-term debt | $259.2M | $251.1M | $251.9M | $252.2M | $245.2M | $242.6M | $241.9M | $247.4M | $248.5M | $239.7M | $241.3M | $243.2M |
| Lease obligations | — | — | $168.8M | — | — | — | $124.5M | — | — | — | — | — |
| Other long-term liabilities | $259.4M | $263.2M | $274.5M | $215.9M | $224.3M | $229.4M | $235.3M | $227.3M | $213.7M | $228.7M | $212.4M | $189.9M |
| Total liabilities | $1.52B | $1.51B | $1.53B | $1.51B | $1.51B | $1.53B | $1.54B | $1.62B | $1.63B | $1.69B | $1.67B | $1.73B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 |
| Retained earnings (deficit) | $214.0M | $252.2M | $289.1M | $348.1M | $356.7M | $377.0M | $374.6M | $370.4M | $359.3M | $302.1M | $256.3M | $236.7M |
| Accumulated other comprehensive income | −$169.6M | −$166.3M | −$157.6M | −$153.4M | −$151.2M | −$203.5M | −$237.0M | −$181.3M | −$229.8M | −$218.0M | −$194.3M | −$244.9M |
| Minority interest | $20.0M | $20.8M | $20.4M | $19.4M | $18.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $390.0M | $430.1M | $472.0M | $536.0M | $544.7M | $510.0M | $475.1M | $529.9M | $465.7M | $412.1M | $389.9M | $304.4M |
| Key figures | ||||||||||||
| Total debt | $500.0M | $505.3M | $384.7M | $467.8M | $473.2M | $484.0M | $541.8M | $468.5M | $501.9M | $474.8M | $494.0M | $510.6M |
| Net cash (debt) | −$427.4M | −$423.5M | −$261.5M | −$396.7M | −$406.3M | −$406.8M | −$445.2M | −$392.9M | −$435.4M | −$412.6M | −$415.2M | −$432.4M |
| Working capital | $277.2M | $312.2M | $345.2M | $406.8M | $414.5M | $401.0M | $375.4M | $410.6M | $357.7M | $305.3M | $271.5M | $201.5M |
| Tangible book value | $304.2M | $344.5M | $384.0M | $447.5M | $455.4M | $425.8M | $387.4M | $435.4M | $378.2M | $322.8M | $297.3M | $213.6M |
| Book value per share | $21.77 | $24.13 | $26.64 | $30.25 | $30.77 | $28.71 | $26.79 | $29.85 | $26.37 | $23.43 | $22.29 | $17.48 |
| Shares outstanding | 17.9M | 17.8M | 17.7M | 17.7M | 17.7M | 17.8M | 17.7M | 17.8M | 17.7M | 17.6M | 17.5M | 17.4M |
| Current ratio | 1.28 | 1.31 | 1.34 | 1.39 | 1.40 | 1.38 | 1.35 | 1.36 | 1.31 | 1.25 | 1.22 | 1.16 |
| Quick ratio | 0.56 | 0.56 | 0.61 | 0.57 | 0.56 | 0.55 | 0.55 | 0.54 | 0.55 | 0.48 | 0.47 | 0.45 |
| Debt / equity | 1.28 | 1.17 | 0.82 | 0.87 | 0.87 | 0.95 | 1.14 | 0.88 | 1.08 | 1.15 | 1.27 | 1.68 |
| Equity / assets | 20.2% | 22.0% | 23.4% | 26.0% | 26.2% | 24.8% | 23.4% | 24.4% | 22.0% | 19.5% | 18.8% | 14.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 3, 2026); data from EODHD.
HY financial position
At the end of fiscal 2025 (December 31, 2025), Hyster-Yale had total assets of $2.0 billion (down 0.4% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $472.0 million. It held $123.2 million in cash and short-term investments against $384.7 million of debt, net debt of $261.5 million. Its current ratio was 1.34. In the latest quarter (ended June 30, 2026) total assets were $1.9 billion and equity $390.0 million.
Related: HY income statement, HY cash flow statement, HY key metrics. See the HY stock overview for the latest quote and news.
HY balance sheet FAQ
What are Hyster-Yale's total assets?
Hyster-Yale reported total assets of $2.0 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.0 billion a year earlier.
How much debt does Hyster-Yale have?
Hyster-Yale had $384.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.82.
How much cash does Hyster-Yale have?
Hyster-Yale held $123.2 million in cash and short-term investments at the end of fiscal 2025; with $384.7 million of debt that is net debt of $261.5 million.
What is Hyster-Yale's book value?
Hyster-Yale's shareholders' equity (book value) was $472.0 million at the end of fiscal 2025, or $26.64 per share.
What is Hyster-Yale's current ratio?
Hyster-Yale had current assets of $1.3 billion and current liabilities of $1.0 billion, a current ratio of 1.34 (it can cover its short-term obligations).
How much goodwill does Hyster-Yale have?
Hyster-Yale carried $88.0 million of goodwill and intangible assets, 4.4% of total assets, at the end of fiscal 2025.