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 $483.2M — 2.3× the size. Hyster-Yale, Inc. has negative trailing earnings, so its P/E is not meaningful; Lindsay Corporation trades at 20.0×. Lindsay Corporation grew revenue faster over the last twelve months: −5.99% against −14.2%. Lindsay Corporation has the higher net margin (8.75% vs −3.86%) and the higher return on invested capital (9.71% vs −8.19%). Both pay a dividend; Hyster-Yale, Inc. yields more (5.28% vs 1.39%). Across the 21 metrics below, Lindsay Corporation leads on 16 and Hyster-Yale, Inc. on 5.

Valuation

Metric HY LNN Farm & Heavy Construction Machinery median
P/E n/m 19.99 21.67
P/S 0.15 1.75 0.77
P/B 1.32 2.20 1.31
Price to free cash flow 70.35 32.00 20.59
EV/EBITDA n/m 11.53 11.30
EV/Sales 0.25 1.63 1.11
Earnings yield (26.43%) 5.00% 3.08%
Free cash flow yield 1.42% 3.12% 3.12%

Profitability

Metric HY LNN Farm & Heavy Construction Machinery median
Gross margin 15.11% 28.90% 22.91%
Operating margin (2.76%) 10.53% 4.47%
Net margin (3.86%) 8.75% 1.41%
Free cash flow margin 0.21% 5.46% 2.26%
Return on equity (28.35%) 10.72% 3.99%
Return on assets (6.49%) 6.72% 1.31%
Return on invested capital (8.19%) 9.71% 4.09%

Growth

Metric HY LNN Farm & Heavy Construction Machinery median
Revenue growth (TTM) (14.18%) (5.99%) 1.81%
EPS growth (last fiscal year) (142.29%) (21.39%) (27.79%)
Revenue growth, 5-year CAGR 6.03% 2.30% 6.63%
Net income growth, 5-year CAGR 0.00% 5.50% 0.00%

Health

Metric HY LNN Farm & Heavy Construction Machinery median
Debt to equity 1.05 0.23 0.66
Current ratio 1.24 3.15 1.98
Net debt to EBITDA 10.42 (0.83) 1.12

Dividend

Metric HY LNN Farm & Heavy Construction Machinery median
Dividend yield 5.28% 1.39% 1.24%
Payout ratio — 0.28 0.31

Size

Metric HY LNN Farm & Heavy Construction Machinery median
Market cap 483.23m 1.09b 836.63m

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