Gencor Industries Inc. (GENC) vs Hyster-Yale, Inc. (HY)

Gencor Industries Inc. and Hyster-Yale, Inc. are both Farm & Heavy Construction Machinery companies. Hyster-Yale, Inc. is the larger, with a market value of $552.6M against $252.3M — 2.2× the size. Hyster-Yale, Inc. has negative trailing earnings, so its P/E is not meaningful; Gencor Industries Inc. trades at 17.2×. Gencor Industries Inc. grew revenue faster over the last twelve months: −6.39% against −11.1%. Gencor Industries Inc. has the higher net margin (13.5% vs −3.33%) and the higher return on invested capital (13.3% vs −7.03%). Across the 19 metrics below, Gencor Industries Inc. leads on 15 and Hyster-Yale, Inc. on 4.

Valuation

Metric GENC HY Farm & Heavy Construction Machinery median
P/E 17.25 n/m 23.38
P/S 2.33 0.16 0.81
P/B 1.14 1.41 1.43
Price to free cash flow n/m 33.12 25.31
EV/EBITDA 6.10 n/m 12.13
EV/Sales 0.83 0.25 1.20
Earnings yield 5.80% (21.12%) 2.73%
Free cash flow yield (0.63%) 3.02% 3.02%

Profitability

Metric GENC HY Farm & Heavy Construction Machinery median
Gross margin 28.58% 15.36% 24.21%
Operating margin 11.74% (2.32%) 4.47%
Net margin 13.53% (3.33%) 1.49%
Free cash flow margin (1.47%) 0.48% 2.15%
Return on equity 6.85% (24.80%) 4.16%
Return on assets 6.49% (5.84%) 1.45%
Return on invested capital 13.32% (7.03%) 3.36%

Growth

Metric GENC HY Farm & Heavy Construction Machinery median
Revenue growth (TTM) (6.39%) (11.14%) 2.18%
EPS growth (last fiscal year) 8.08% (142.29%) —
Revenue growth, 5-year CAGR 8.32% 6.03% 7.34%
Net income growth, 5-year CAGR 23.14% 0.00% 0.00%

Health

Metric GENC HY Farm & Heavy Construction Machinery median
Debt to equity 0.00 1.02 0.67
Current ratio 19.16 1.28 1.98
Net debt to EBITDA (8.32) 10.42 1.12

Dividend

Metric GENC HY Farm & Heavy Construction Machinery median
Dividend yield — 1.88% 1.45%
Payout ratio 0.00 0.64 0.08

Size

Metric GENC HY Farm & Heavy Construction Machinery median
Market cap 252.26m 552.62m 772.81m

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