Want to see HYLN full AI Analyst Report?
Top Page
Hyliion Holdings
(HYLN)
Select Model
Select Model
Rating:56Neutral
Price Target:
$3.50
▲(2.64% Upside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by weak financial performance (negative margins, sizable net losses, and negative free cash flow), despite a strong balance sheet with low leverage. The latest earnings call provides meaningful upside signals via raised revenue guidance and major Navy contract momentum, while technical indicators are mixed and valuation is constrained by ongoing unprofitability and no provided dividend yield.
Positive Factors
Multi-year Navy contract expands defense power-generation position
The multi-year Navy award provides a substantial contracted program, validates Hyliion’s megawatt-scale technology, and supports defense-sector credibility. It also funds further technology and additive-manufacturing development, potentially strengthening future product competitiveness.
Negative Factors
Persistent losses and weak margins undermine operating economics
Hyliion remains far from sustainable profitability, with negative TTM gross profit and large net losses. Low margins on current revenue suggest limited operating leverage today, while continued R&D and selling expenses could delay break-even as the business scales.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Navy contract expands defense power-generation position
The multi-year Navy award provides a substantial contracted program, validates Hyliion’s megawatt-scale technology, and supports defense-sector credibility. It also funds further technology and additive-manufacturing development, potentially strengthening future product competitiveness.
Read all positive factors
Hyliion Holdings (HYLN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$659.02M
Dividend YieldN/A
Average Volume (3M)2.85M
Price to Earnings (P/E)―
Beta (1Y)2.46
Revenue Growth163.22%
EPS Growth8.70%
CountryUS
Employees113
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.30
Shares Outstanding178,597,210
10 Day Avg. Volume1,856,274
30 Day Avg. Volume2,853,996
Financial Highlights & Ratios
PEG Ratio-0.56
Price to Book (P/B)1.68
Price to Sales (P/S)92.89
P/FCF Ratio-4.59
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.50Price Target Upside178.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.31
Revenue Forecast (FY)$13.76M
Hyliion Holdings Business Overview & Revenue Model
Company Description
Hyliion Holdings Corp. designs and develops power generators for stationary and mobile applications. Its primary product includes the KARNO Power Module, a fuel-agnostic power generating solution, which enables distributed power generation using c...
How the Company Makes Money
Hyliion primarily makes money by selling power generation products and related services. Key revenue streams include: (1) Product revenue from the sale of generator units and modular power generation systems (e.g., packaged generator solutions), r...
Hyliion Holdings Earnings Call Summary
Earnings Call Date:Aug 11, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call contained multiple material positive developments—most notably a $41.7M Navy contract, a 50% upward revision to 2026 revenue guidance, strong year-over-year revenue growth, identified additive manufacturing throughput gains (up to 3x potential), and a healthy balance sheet ($132M cash). At the same time, the company remains unprofitable with low current gross margins, revenue concentrated in R&D service contracts rather than product sales, and key execution risks around validating throughput gains and scaling printer capacity. Overall, the positives (contract wins, guidance increase, manufacturing upside, improved cash outlook) outweigh the risks and uncertainties, but the company still faces near-term margin and commercialization timing challenges.Positive Updates
Largest Military Contract Awarded
Hyliion was awarded a $41.7 million contract with the U.S. Navy—the company’s largest military award to date—to scale KARNO power into multi-megawatt systems (delivering two power modules: one >2 MW and one >3 MW). Management expects additional military awards this year (including ~ $7M from another service) bringing new military contracts close to $50M for 2026.
Negative Updates
Continued Net Losses
Net loss for Q2 2026 was $13.9 million versus $13.4 million in Q2 2025 (a ~3.7% increase). Year-to-date net loss improved to $25.7 million from $30.7 million a year ago (a 16% improvement), but the company remains unprofitable.
Read all updates
Q2-2026 Updates
Positive
Negative
Largest Military Contract Awarded
Hyliion was awarded a $41.7 million contract with the U.S. Navy—the company’s largest military award to date—to scale KARNO power into multi-megawatt systems (delivering two power modules: one >2 MW and one >3 MW). Management expects additional military awards this year (including ~ $7M from another service) bringing new military contracts close to $50M for 2026.
Read all positive updates
Company Guidance
Hyliion raised 2026 revenue guidance from $10M to about $15M (Q2 revenue $4.9M; Q3 expected roughly in line at just under $5M; H1 revenue $7.8M vs $2.0M in H1 2025) and expects to finish the year with ~$115–120M of cash & investments (Q2 cash/investments $132M) after net cash spending of roughly $30–35M including planned equipment financing of $10–15M; operationally it still plans to complete ~10 early‑adopter KARNO Cores this year with the first customer site deployment next quarter, hit a 200 kW target by year‑end, and deliver multiple Navy assets (including an 800 kW system) under a $41.7M US Navy contract (anticipating an additional ~$7M award to bring new 2026 military awards close to $50M, performance periods 2–3 years); additive manufacturing advances could boost print speed/throughput up to 3x (being validated), the current fleet of ~30 printers can produce up to 15 MW/year, and management estimates ~$1.5M of printer/manufacturing investment supports ~1 MW of annual KARNO capacity (≈$2.5–3.0M annual revenue per MW at current pricing); Q2 gross profit $0.366M, Q2 net loss $13.9M (YTD net loss $25.7M), Q2 operating expenses $15.7M (R&D $9.5M; SG&A $6.4M).Hyliion Holdings Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.25M | 3.48M | 1.51M | 672.00K | 2.11M | 200.00K |
| Gross Profit | -5.03M | -5.79M | 94.00K | -1.04M | -6.67M | -2.54M |
| EBITDA | -44.43M | -51.23M | -58.15M | -122.38M | -152.13M | -95.16M |
| Net Income | -52.19M | -57.19M | -52.05M | -123.51M | -153.36M | -96.05M |
Balance Sheet | ||||||
| Total Assets | 179.59M | 203.56M | 263.05M | 328.38M | 446.74M | 578.44M |
| Cash, Cash Equivalents and Short-Term Investments | 64.18M | 92.36M | 120.14M | 163.18M | 313.21M | 377.23M |
| Total Debt | 3.05M | 4.37M | 6.79M | 7.64M | 7.32M | 8.64M |
| Total Liabilities | 10.05M | 11.55M | 18.66M | 22.12M | 23.17M | 24.52M |
| Stockholders Equity | 169.54M | 192.01M | 244.39M | 306.27M | 423.57M | 553.91M |
Cash Flow | ||||||
| Free Cash Flow | -56.62M | -70.29M | -73.26M | -124.36M | -134.19M | -82.88M |
| Operating Cash Flow | -42.37M | -46.55M | -56.74M | -116.96M | -116.88M | -80.50M |
| Investing Cash Flow | 40.08M | 60.93M | 59.49M | 18.31M | -22.02M | -65.99M |
| Financing Cash Flow | -137.00K | -670.00K | -14.33M | -15.00K | -78.00K | 15.90M |
Hyliion Holdings Risk Analysis
Hyliion Holdings disclosed 43 risk factors in its most recent earnings report. Hyliion Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hyliion Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $10.84B | 20.59 | 27.88% | 0.87% | 37.56% | -28.71% | |
65 Neutral | $13.76B | 32.80 | 7.37% | 1.03% | 2.17% | 111.19% | |
63 Neutral | $5.22B | 14.97 | -46.50% | 1.14% | 8.47% | 29.11% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $659.02M | -13.52 | -27.94% | ― | 163.22% | 8.70% | |
55 Neutral | $3.45B | -19.56 | -13.31% | 1.47% | -15.78% | -355.78% | |
53 Neutral | $9.96B | 43.55 | 2.41% | 0.97% | -5.40% | -75.68% |
* Consumer Cyclical Sector Average
HYLN
Hyliion Holdings
4.00
2.39
148.45%
ALSN
Allison Transmission Holdings
130.56
42.91
48.95%
BWA
BorgWarner
66.26
23.09
53.48%
DAN
Dana Incorporated
31.29
11.07
54.72%
APTV
Aptiv
45.73
-23.85
-34.28%
GTX
Garrett Motion
27.99
14.94
114.43%
Hyliion Holdings Corporate Events
Business Operations and Strategy
Hyliion Wins $42M Navy Power Generation Contract
Positive
Jul 24, 2026
On July 22, 2026, Hyliion Holdings announced it had secured a cost-plus-fixed-fee contract worth about $42 million from the U.S. Office of Naval Research to support the HELMUR Megawatt Scale Power Generation Units program. Under the deal, Hyliion ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.