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 $552.6M — 2.1× the size. Hyster-Yale, Inc. has negative trailing earnings, so its P/E is not meaningful; Lindsay Corporation trades at 21.8×. 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 (1.88% vs 1.09%). 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 21.80 23.38
P/S 0.16 1.87 0.81
P/B 1.41 2.36 1.43
Price to free cash flow 33.12 26.20 25.31
EV/EBITDA n/m 13.42 12.13
EV/Sales 0.25 1.81 1.20
Earnings yield (21.12%) 4.59% 2.73%
Free cash flow yield 3.02% 3.82% 3.02%

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% 4.16%
Return on assets (5.84%) 6.64% 1.45%
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% —
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 1.88% 1.09% 1.45%
Payout ratio 0.64 0.21 0.08

Size

Metric HY LNN Farm & Heavy Construction Machinery median
Market cap 552.62m 1.14b 772.81m

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