Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Hyster YaleFRA:HYEA -0.68%69 Piotroski F-Score is 2 as of Aug. 26, 2026, which is 60% below its 10-year median of 5.00. GuruFocus rates FRA:HYEA with a GF Score™ of 69/100 and a GF Value™ of €31.24 (Fairly Valued). The stock has 4 warning signs investors should review. Among 208 Farm & Heavy Construction Machinery companies, Hyster Yale ranks worse than 94.71% on this metric.
Warning Sign:
Piotroski F-Score of 2 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hyster Yale has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Hyster Yale's Piotroski F-Score or its related term are showing as below:
FRA:HYEA'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 5 Max: 8
Current: 2
During the past 13 years, the highest Piotroski F-Score of Hyster Yale was 8. The lowest was 1. And the median was 5.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Hyster Yale Piotroski F-Score Related Terms
Hyster Yale Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Hyster Yale's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:HYEA vs WNC, TWI, MTW: Piotroski F-Score Comparison
For the Farm & Heavy Construction Machinery subindustry, Hyster Yale's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Hyster Yale Piotroski F-Score vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Hyster Yale's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Hyster Yale's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Hyster Yale's current Net Income (TTM) was -101.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Hyster Yale's return on assets of this year was -0.05591981. Hyster Yale's return on assets of last year was 0.01080445.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Hyster Yale's gearing of this year was 0.13008454. Hyster Yale's gearing of last year was 0.11117278.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Hyster Yale's current ratio of this year was 1.27731017. Hyster Yale's current ratio of last year was 1.3977171.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Hyster Yale's number of shares in issue this year was 17.912. Hyster Yale's number of shares in issue last year was 17.705.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Hyster Yale's gross margin of this year was 0.15364793. Hyster Yale's gross margin of last year was 0.1891777.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Hyster Yale's asset turnover of this year was 1.67641092. Hyster Yale's asset turnover of last year was 1.8347226.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
0
+
1
+
0
+
1
+
0
+
0
+
0
+
0
+
0
=
2
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Hyster Yale has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Hyster Yale (FRA:HYEA) has a Piotroski F-Score of 2 as of Aug. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hyster Yale and its competitors. This is 60% below median its historical median of 5.00. Over the past decade, Hyster Yale's Piotroski F-Score has ranged from 1.00 to 8.00. According to the industry distribution chart, Hyster Yale ranks #197 out of 208 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 94.7%.
Is Hyster Yale's Piotroski F-Score too high?
Hyster Yale's current Piotroski F-Score of 2 is 60% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 8.00. The Farm & Heavy Construction Machinery industry median Piotroski F-Score is 5.00. Hyster Yale's value of 2 is 60% below this industry median. Based on the distribution chart, Hyster Yale ranks #197 out of 208 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Hyster Yale has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hyster Yale's Piotroski F-Score compare to WNC and TWI?
According to the Farm & Heavy Construction Machinery industry distribution chart, Hyster Yale ranks #197 out of 208 companies for Piotroski F-Score. This places Hyster Yale in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Hyster Yale's value of 2 is 60% below this benchmark. Historically, Hyster Yale's own Piotroski F-Score has ranged from 1.00 to 8.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 5.00, Hyster Yale has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Farm & Heavy Construction Machinery company?
The median Piotroski F-Score among Farm & Heavy Construction Machinery companies is 5.00, based on 208 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Hyster Yale's current Piotroski F-Score of 2 is 60% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Hyster Yale and its competitors. For the Farm & Heavy Construction Machinery industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hyster Yale's current Piotroski F-Score is 2, which is 60% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hyster Yale stock overvalued right now?
Based on GuruFocus' analysis, Hyster Yale (FRA:HYEA) is currently considered Fairly Valued. The stock's GF Value™ is €31.24, compared to a current price of €29.00 — trading 7.2% below its estimated fair value. The current Piotroski F-Score is 2, which is 60% below median its 10-year median of 5.00 and 60% below the Farm & Heavy Construction Machinery industry median of 5.00. Hyster Yale's overall GF Score™ is 69/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Hyster Yale (FRA:HYEA), the current Piotroski F-Score is 2 as of Aug. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Hyster Yale (FRA:HYEA) Overvalued in 2026?
Based on GuruFocus' analysis, Hyster Yale stock appears to be undervalued.
The current stock price of €29.00 is trading 7.2% below its estimated GF Value™ of €31.24.
GuruFocus considers Hyster Yale to be Fairly Valued.
Key valuation signals for FRA:HYEA:
Piotroski F-Score: 2 (60% below median its 10-year median of 5.00)
GF Value™: €31.24 vs. price of €29.00 (7.2% below fair value)
Industry Position: 60% below the Farm & Heavy Construction Machinery median (#197 of 208)
No single metric tells the full story. See the FRA:HYEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hyster Yale Inc designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, aftermarket parts, and technology solutions marketed globally under the Hyster and Yale brand names. The company has four segments, which include three in the lift truck business as discussed below, as well as Bolzoni S.p.A. (Bolzoni). The majority of its revenue is generated from Lift Trucks. Geographically, it operates in America, EMEA, and JAPIC regions, of which maximum revenue is generated from its business in America, which includes lift truck operations in the U.S., Canada, Mexico, Brazil, and Latin America.
69GF Score
Get the complete analysis for FRA:HYEA
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:HYEA has been successfully added to your 
