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 $538.3M against $257.2M — 2.1× the size. Hyster-Yale, Inc. has negative trailing earnings, so its P/E is not meaningful; Gencor Industries Inc. trades at 16.4×. Gencor Industries Inc. grew revenue faster over the last twelve months: −6.39% against −14.2%. Gencor Industries Inc. has the higher net margin (13.5% vs −3.86%) and the higher return on invested capital (13.3% vs −8.19%). 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 16.42 n/m 21.67
P/S 2.21 0.15 0.77
P/B 1.08 1.32 1.31
Price to free cash flow n/m 70.35 20.59
EV/EBITDA 5.28 n/m 11.30
EV/Sales 0.72 0.25 1.11
Earnings yield 6.09% (26.43%) 3.08%
Free cash flow yield (0.66%) 1.42% 3.12%

Profitability

Metric GENC HY Farm & Heavy Construction Machinery median
Gross margin 28.58% 15.11% 22.91%
Operating margin 11.74% (2.76%) 4.47%
Net margin 13.53% (3.86%) 1.41%
Free cash flow margin (1.47%) 0.21% 2.26%
Return on equity 6.85% (28.35%) 3.99%
Return on assets 6.49% (6.49%) 1.31%
Return on invested capital 13.32% (8.19%) 4.09%

Growth

Metric GENC HY Farm & Heavy Construction Machinery median
Revenue growth (TTM) (6.39%) (14.18%) 1.81%
EPS growth (last fiscal year) 8.08% (142.29%) (27.79%)
Revenue growth, 5-year CAGR 8.32% 6.03% 6.63%
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 1.05 0.66
Current ratio 19.16 1.24 1.98
Net debt to EBITDA (8.32) 10.42 1.12

Dividend

Metric GENC HY Farm & Heavy Construction Machinery median
Dividend yield — 5.28% 1.24%
Payout ratio — — 0.31

Size

Metric GENC HY Farm & Heavy Construction Machinery median
Market cap 257.24m 538.28m 836.63m

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