Hyster-Yale (HY) Cash Flow: Operating & Free Cash Flow

Hyster-Yale (HY) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Hyster-Yale generated $86.10M of operating cash flow and spent $62.50M on capital expenditures. That left free cash flow of $23.60M, down 80.8% from $122.90M a year earlier, or 0.6% of revenue. It returned $29.90M to shareholders through $25.40M in dividends and $4.50M in share buybacks.

Hyster-Yale Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Hyster-Yale, Inc. (HY) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-58.00	144.20	128.10	-71.60	-183.20	38.50	36.60	34.30	48.90
Depreciation & Amortization	45.80	47.60	45.10	43.40	46.20	42.90	43.30	44.00	42.80
Deferred Income Tax	-1.50	-8.20	-1.10	-0.10	19.80	-2.50	-6.80	-3.20	8.10
Stock Based Compensation	7.50	23.60	29.30	6.40	4.00	1.30	8.20	5.70	8.80
Change in Working Capital	27.20	-97.70	-98.40	39.60	-180.80	70.90	-26.60	-36.20	55.80
Change in Accounts Receivable	25.30	-14.20	26.80	-89.50	-54.60	68.90	-9.60	58.00	-44.00
Change in Inventory	156.60	35.30	-4.30	-39.10	-289.70	66.60	-37.90	-125.40	-43.60
Change in Accounts Payable	-79.90	-55.90	-81.40	78.70	129.50	4.30	1.90	23.30	125.10
Change in Other Working Capital	-74.80	56.80	-39.50	89.50	-30.60	-68.90	19.00	7.90	18.30
Other Operating Activities	63.60	56.80	46.60	29.20	-30.60	15.80	22.00	23.00	0.30
Net Cash from Operating Activities	86.10	170.70	150.70	40.60	-253.50	166.90	76.70	67.60	164.70
Investing Activities
Capital Expenditures	-62.50	-47.80	-35.40	-28.80	-44.30	-51.70	-49.70	-38.80	-41.00
Acquisitions	-2.60	-2.20	-3.20	-8.40	4.10	0.00	0.00	-78.00	-2.00
Purchases of Investments	0.00	0.00	1.10	0.50	-4.10	0.00	0.00	0.00	-5.60
Sales/Maturities of Investments	0.00	0.00	1.10	0.50	15.70	0.00	0.00	0.00	0.00
Other Investing Activities	-60.10	1.80	1.90	1.30	4.10	8.00	7.70	5.90	1.30
Net Cash from Investing Activities	-62.70	-47.60	-34.50	-35.40	-24.50	-43.70	-42.00	-110.90	-47.30
Financing Activities
Debt Repayment	-171.10	-198.50	-161.10	-97.60	-62.00	-18.90	-29.80	-72.20	78.00
Common Stock Repurchased	-4.50	-14.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-25.40	-24.00	-22.30	-21.80	-21.60	-21.30	-21.00	-20.40	-19.80
Other Financing Activities	-3.40	-1.30	-2.20	-0.20	-7.80	-0.40	-0.80	5.00	-5.10
Net Cash from Financing Activities	-0.80	-100.10	-100.50	-10.90	193.60	-40.60	-51.60	-87.60	53.10
Summary
Effect of Forex Changes on Cash	4.00	-5.20	4.10	-0.80	-1.50	4.20	-2.20	-5.50	6.40
Net Change in Cash	26.60	17.80	19.80	-6.50	-84.40	86.80	-19.10	-136.40	176.90
Cash at Beginning of Period	96.60	78.80	59.00	65.50	151.40	64.60	83.70	220.10	43.20
Cash at End of Period	123.20	96.60	78.80	59.00	65.50	151.40	64.60	83.70	220.10
Free Cash Flow	23.60	122.90	115.30	11.80	-297.80	115.20	27.00	28.80	123.70
Supplemental Disclosures
Interest Paid	-	34.50	36.40	26.60	14.50	13.00	-	-	-
Income Taxes Paid	-	85.60	52.90	10.80	11.40	15.10	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Hyster-Yale Cash Flow

What is Hyster-Yale's free cash flow?

Hyster-Yale generated free cash flow of $23.60M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $86.10M minus $62.50M of capital expenditures. That was down 80.8% from $122.90M a year earlier. Free cash flow equaled 0.6% of revenue.

How much does Hyster-Yale spend on capital expenditures?

Hyster-Yale spent $62.50M on capital expenditures in fiscal 2025, compared with $47.80M a year earlier. That equals 72.6% of operating cash flow.

Does Hyster-Yale pay dividends or buy back shares?

Yes. In fiscal 2025 Hyster-Yale returned $25.40M in dividends and $4.50M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition