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Hyster-Yale cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$12.5M in Q3 2026 · $4.7M over twelve months

Operating cash flow$26.3M
Capital spending−$13.8M
Free cash flow+$12.5M
Cash conversion cycle80 days

Analysis

In Q3 2026, Hyster-Yale generated $26.3M of operating cash flow and spent $13.8M on capital projects, leaving free cash flow of $12.5M. That is $10.1M less than in Q3 2025 ($22.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $66.6M; the largest uses were capital spending ($61.9M), dividends ($26.1M), other investing ($5.2M); besides operations, cash came from buybacks ($8.3M), acquisitions ($3.3M); the cash balance fell by $12.6M.

Operating cash flow was $26.3M against net income of −$14.3M. The largest differences: payables +$50.1M, inventory −$37.6M, receivables +$14.6M.

Its cash conversion cycle was 80 days (receivables 53 + inventory 85 − payables 57).

Free cash flow

Hyster-Yale: free cash flow by quarterHyster-Yale: free cash flow by quarter$62.8MQ4 2024−$47.0MQ1 2025$15.1MQ2 2025$22.6MQ3 2025$32.9MQ4 2025−$42.7MQ1 2026$2.0MQ2 2026$12.5MQ3 2026
Operating cash flow less capital spending.
Hyster-Yale: operating cash flow against capital spendingHyster-Yale: operating cash flow against capital spendingOperating cash flowCapital spending$80.7M$17.9MQ4 2024−$36.4M$10.6MQ1 2025$28.9M$13.8MQ2 2025$37.1M$14.5MQ3 2025$56.5M$23.6MQ4 2025−$32.9M$9.8MQ1 2026$16.7M$14.7MQ2 2026$26.3M$13.8MQ3 2026
Latest (Q3 2026): Operating cash flow $26.3M, Capital spending $13.8M.

Capital allocation, year by year

Hyster-Yale: where the cash came from (up) and went (down), by fiscal yearHyster-Yale: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow −$254MFY2021: Net borrowing $50.0MFY2021: Capital spending −$44.3MFY2021: Dividends −$21.6M$50.0MFY2021FY2022: Operating cash flow $40.6MFY2022: Net borrowing $30.4MFY2022: Capital spending −$28.8MFY2022: Dividends −$21.8M$71.0MFY2022FY2023: Operating cash flow $151MFY2023: Net borrowing −$36.9MFY2023: Asset sales $1.1MFY2023: Capital spending −$35.4MFY2023: Dividends −$22.3M$152MFY2023FY2024: Operating cash flow $171MFY2024: Net borrowing −$39.2MFY2024: Asset sales $600KFY2024: Capital spending −$47.8MFY2024: Acquisitions $2.2MFY2024: Buybacks $14.0MFY2024: Dividends −$24.0M$188MFY2024FY2025: Operating cash flow $86.1MFY2025: Net borrowing −$38.4MFY2025: Capital spending −$62.5MFY2025: Acquisitions $2.6MFY2025: Buybacks $4.5MFY2025: Dividends −$25.4M$93.2MFY2025
Over these 5 years operating cash flow totalled $195M; the largest uses were operating cash flow ($254M) and capital spending ($219M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$58.5M
Debt$466M
Net debt$407M
Due within a year$235M

Hyster-Yale funds itself: free cash flow was $4.7M over the last twelve months, and $58.5M of cash and investments stands against $466M of debt ($235M due within a year, 0.2× covered by cash).

Hyster-Yale: debt maturities by year (FY2025)Hyster-Yale: debt maturities by year (FY2025)$235MYear 1$29.7MYear 2$209MYear 3
Principal due in each year as disclosed in the annual report, against $58.5M of cash and investments now.

Where the cash came from and went

Hyster-Yale: sources (+) and uses (−) of cash, Q3 2026Hyster-Yale: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$26.3MCash drawn (+) / kept (−)$14.1MCapital spending−$13.8MNet borrowing (+) / repaid (−)−$12.5MOther financing−$6.8MDividends−$6.6MAcquisitions−$1.9MAsset & business sales$600KExchange rates$600K
Hyster-Yale: sources (+) and uses (−) of cash, TTM to Q3 2026Hyster-Yale: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$66.6MCapital spending−$61.9MDividends−$26.1MCash drawn (+) / kept (−)$12.6MBuybacks$8.3MOther investing−$5.2MAcquisitions$3.3MAsset & business sales$2.3MExchange rates$600KOther financing−$500K

From profit to cash

Hyster-Yale: net income to operating cash flow, Q3 2026Hyster-Yale: net income to operating cash flow, Q3 2026Net income−$14.3MDepreciation & amortization$11.4MStock-based pay−$500KOther non-cash−$4.1MReceivables$14.6MInventory−$37.6MPayables$50.1MPrepaid and other assets$4.0MOther liabilities$900KOperating cash flow$26.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202653855780
Q2 202654845484
Q1 202654865387
Q4 202550805080
Q3 202549855281
Q2 202548895484
Q1 202549945687
Q4 202444865278

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$26.3M−$13.8M−$1.9M—−$6.6M−$12.5M$14.1M$12.5M
Q2 2026$16.7M−$14.7M——−$6.6M$5.7M$9.2M$2.0M
Q1 2026−$32.9M−$9.8M—−$700K−$6.4M$9.8M$41.4M−$42.7M
Q4 2025$56.5M−$23.6M$5.2M$9.0M−$6.5M−$11.1M−$52.1M$32.9M
Q3 2025$37.1M−$14.5M—−$100K−$6.3M$7.5M−$4.2M$22.6M
Q2 2025$28.9M−$13.8M—$100K−$6.4M−$11.4M$10.3M$15.1M
Q1 2025−$36.4M−$10.6M—−$4.5M−$6.2M−$7.7M$19.4M−$47.0M
Q4 2024$80.7M−$17.9M$4.4M$23.1M−$6.1M−$3.1M−$21.0M$62.8M

Hyster-Yale: income statement and cash flow

Hyster-Yale, Q3 2026: revenue $827M (-16% year over year), operating margin -1.1%. The chart follows the revenue to costs, profit and cash.

Hyster-Yale: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.