# Hyliion Holdings Corp. (HYLN)

> Source: Nexqual · https://nexqual.com/HYLN · data as of 2026-10-29 18:22 UTC · cite as "Nexqual, Hyliion Holdings Corp. (HYLN), nexqual.com/HYLN" · informational, not investment advice.

**Price:** USD 3.43 (+1.63% today) · US market open, as of October 29, 2026 at 18:22 UTC; quotes may be delayed. Prev close 3.37 · day 3.32–3.54 · 52w 1.56–8.49 · market cap $612M · ASE

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $9.2M, net income -$52.2M (-564.3% margin), free cash flow -$56.6M (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $170K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 7.75 (range 5–10).
- Total return with dividends: 1Y +50.9% vs S&P 500 +12.8%; 5Y -57.7% vs S&P 500 +78.7%.
- Next earnings: 2026-11-10, EPS estimate USD -0.07, revenue estimate $4.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $200K | $2.1M | $672K | $1.5M | $3.5M | $9.2M |
| Gross profit | -$2.5M | -$6.7M | -$1.0M | $94K | $170K | — |
| Operating income | -$96.1M | -$159M | -$137M | -$64.3M | -$65.6M | -$58.7M |
| Net income | -$96.0M | -$153M | -$124M | -$52.0M | -$57.2M | -$52.2M |
| EPS (diluted) | -$0.56 | -$0.87 | -$0.68 | -$0.30 | -$0.33 | — |
| Free cash flow | -$82.9M | -$120M | -$124M | -$73.3M | -$70.3M | -$56.6M |
| Gross margin | -1268.5% | -316.8% | -155.4% | 6.2% | 4.9% | — |
| Operating margin | -48048.5% | -7551.3% | -20441.8% | -4261.0% | -1886.4% | -635.2% |
| Net margin | -48024.0% | -7281.9% | -18379.5% | -3449.2% | -1645.7% | -564.3% |
| Revenue growth | — | +953.0% | -68.1% | +124.6% | +130.3% | — |
| Cash + short-term investments | $377M | $313M | $163M | $120M | $92.4M | — |
| Total debt | $0K | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 66.3x · P/B 3.6x · FCF yield -9.23% · Earnings yield -8.51%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $170K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-27 | Cubbage Vincent T. | Director | 50,000 | $170K | 3.4 | Too little history (no open-market trades in 2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 7.75 (low 5, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Craig-Hallum | Initiated | Buy | $7 |
| 2026-08-13 | Northland Capital Markets | Upgrade | Market Perform → Outperform | $10 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +50.9% | -57.7% |
| S&P 500 (SPY) | +12.8% | +78.7% |
| Per year | +50.9% | -15.8% |
| Volatility (annualized) | 98.2% | 89.7% |
| Max drawdown | -63.6% (Jun 2026→Oct 2026) | -93.6% (Nov 2021→Nov 2023) |

## Peers (Electrical Equipment & Parts)
KE (Kimball Electronics, Inc.) USD 27.4 +1.35% · EOSE (Eos Energy Enterprises, Inc.) USD 1.99 +1.79% · ADSE (ADS-TEC ENERGY PLC) USD 9.29 -4.52% · ENVX (Enovix Corporation) USD 3.52 -0.14% · TE (T1 Energy Inc.) USD 2.86 +8.56% · FCEL (FuelCell Energy, Inc.) USD 12.15 -1.86%

## More
Full page: https://nexqual.com/HYLN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in HYLN's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1759631/000162828026011278/hyln-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | NYSE American | "If our common stock is delisted from the NYSE American, the delisting could: substantially decrease trading in our common stock; adversely affect the market liquidity of our common stock; adversely affect our ability to …" |
| Partner | Cedar Park Economic Development | "During the quarter ended March 31, 2024, in connection with our operations in Cedar Park, Texas, the Company entered into an agreement with the Cedar Park Economic Development Corporation ("EDC") that superseded prior ag…" |
| Competitor | Caterpillar (CAT) | "Key generator manufacturing competitors include Cummins, Bloom Energy, Generac, Rehlko (formerly Kohler), Caterpillar, Mainspring and Jenbacher, several of which maintain the largest market shares in the sector." |

Other companies that name HYLN in their own reports (relationship from HYLN's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Swvl Holdings Corp (SWVL) | 20-F 2026-04-20 | "Notable investments that Ms. Grace either led or worked closely with include Apriso (acquired by Dassault Systemes), AZA Group (formerly BitPesa Ltd.), Lon, Inc. (d/b/a Bread) (acquired by Alliance Da…" |
| partner | EGH Acquisition Corp. (EGHA) | 10-K 2026-03-20 | "We believe that we benefit from the valuable experience gained by our Board of Directors and Management Team during the launch and operation of Tortoise Acquisition III, Tortoise Acquisition II and To…" |

## Company outlook (8-K filed 2026-08-11)

- "Hyliion is increasing its full year 2026 revenue guidance to approximately $15 million, a 50% increase from its previous outlook."
- "The Company also continues to expect to complete an equipment financing transaction during 2026, with anticipated proceeds of $10 million to $15 million."
- "As a result of higher revenue, lower capital spending, and planned equipment financing, Hyliion now expects net cash use of $30 million to $35 million during 2026, resulting in a year end cash and investments balance of $115 million to $120 million, compared with its previous outlook of approximately $100 million."

Analysts expect $4.8M for the current quarter, -85.2% vs the guidance midpoint $32.5M. Source: https://www.sec.gov/Archives/edgar/data/1759631/000162828026055735/exhibit991063026.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.07 | $-0.09 | +$0.02 | $4.8M | 1 |
| Next quarter (ends 2026-12-31) | $-0.07 | $-0.10 | +$0.03 | $2.5M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.28 | $-0.38 | +$0.10 | $15.1M | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.30 | $-0.27 | −$0.03 | $36.1M | 2 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.08 | −$0.07 | Miss −14.3% | — |
| — | Quarter ended Dec 31, 2025 | −$0.07 | −$0.09 | Beat +22.2% | — |
| — | Quarter ended Sep 30, 2025 | −$0.08 | −$0.09 | Beat +11.1% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-02 | 8-K | Director or executive officer change, or pay arrangement — “On September 28, 2026, upon the recommendation of the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Hyliion Holdings Corp. (the "Company"), the Board approved and adopted the Hyliion Nonqualified Deferred Compensation Plan (the "Plan"). The Plan is an unfunded, nonqualified deferred compensation plan intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A") and will be administered by the Committee. Participation in the Plan is…” | https://www.sec.gov/Archives/edgar/data/1759631/000162828026064324/0001628280-26-064324-index.htm |
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1759631/000162828026055738/0001628280-26-055738-index.htm |
| 2026-08-11 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1759631/000162828026055735/0001628280-26-055735-index.htm |
| 2026-07-28 | Schedule 13G | BlackRock, Inc.: 5.7% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1759631/000201238326002595/0002012383-26-002595-index.htm |
| 2026-07-24 | 8-K | Other material event — “On July 22, 2026, Hyliion Holdings Corp. (the "Company") announced that it had been awarded a cost-plus-fixed-fee contract by the Office of Naval Research ("ONR") with a total contract value of approximately $42 million. The contract supports the High Efficiency/Low Maintenance Ultra Reliable ("HELMUR") Megawatt Scale Power Generation Units program. Under the contract, the Company will design, develop, build, test, and deliver 2-megawatt and 3-megawatt power generation units to ONR. The contract also includes work…” | https://www.sec.gov/Archives/edgar/data/1759631/000162828026049453/0001628280-26-049453-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.