Hyster-Yale, Inc. (HY) vs Lindsay Corporation (LNN)

Hyster-Yale, Inc. and Lindsay Corporation are both Farm & Heavy Construction Machinery companies. Lindsay Corporation is the larger, with a market value of $1.1B against $539.7M — 2.1× the size. Hyster-Yale, Inc. has negative trailing earnings, so its P/E is not meaningful; Lindsay Corporation trades at 20.5×. Lindsay Corporation grew revenue faster over the last twelve months: −7.37% against −11.1%. Lindsay Corporation has the higher net margin (8.79% vs −3.33%) and the higher return on invested capital (8.50% vs −7.03%). Both pay a dividend; Hyster-Yale, Inc. yields more (4.96% vs 1.39%). Across the 21 metrics below, Lindsay Corporation leads on 17 and Hyster-Yale, Inc. on 4.

Valuation

Metric HY LNN Farm & Heavy Construction Machinery median
P/E n/m 20.49 23.28
P/S 0.15 1.76 0.75
P/B 1.33 2.22 1.43
Price to free cash flow 31.14 24.62 22.25
EV/EBITDA n/m 12.59 11.41
EV/Sales 0.24 1.70 1.14
Earnings yield (22.46%) 4.88% 2.83%
Free cash flow yield 3.21% 4.06% 2.91%

Profitability

Metric HY LNN Farm & Heavy Construction Machinery median
Gross margin 15.36% 29.46% 24.21%
Operating margin (2.32%) 9.95% 4.47%
Net margin (3.33%) 8.79% 1.49%
Free cash flow margin 0.48% 7.15% 2.15%
Return on equity (24.80%) 10.74% 3.99%
Return on assets (5.84%) 6.64% 1.31%
Return on invested capital (7.03%) 8.50% 3.36%

Growth

Metric HY LNN Farm & Heavy Construction Machinery median
Revenue growth (TTM) (11.14%) (7.37%) 2.18%
EPS growth (last fiscal year) (142.29%) 12.81% (27.79%)
Revenue growth, 5-year CAGR 6.03% 7.34% 7.34%
Net income growth, 5-year CAGR 0.00% 13.90% 0.00%

Health

Metric HY LNN Farm & Heavy Construction Machinery median
Debt to equity 1.02 0.23 0.67
Current ratio 1.28 2.93 1.98
Net debt to EBITDA 10.42 (1.24) 1.12

Dividend

Metric HY LNN Farm & Heavy Construction Machinery median
Dividend yield 4.96% 1.39% 1.34%
Payout ratio — 0.29 0.30

Size

Metric HY LNN Farm & Heavy Construction Machinery median
Market cap 539.71m 1.12b 808.87m

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