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Hiab Corporation

HIAB.HE
50
Industrial - Machinery · Industrials
Price
€62.35
+1.55 (+2.55%)
Market Cap
€4.02B
Exchange
NASDAQ Helsinki
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Weak
Cash Flow
Good
Stability
Mixed
Valuation
Good
Dividends
Exceptional

Winston Score History

The full picture

Hiab Corporation makes equipment that loads and unloads heavy cargo from trucks. Its main products include truck-mounted cranes (called loader cranes), tail lifts, forestry cranes, and demountable load-handling systems. Customers include trucking companies, construction firms, logistics operators, and forestry businesses. Hiab is one of the world's largest makers of truck-mounted load-handling equipment and owns well-known brands like HIAB, LOGLIFT, and MULTILIFT.

Hiab sells its equipment directly and through dealers, earning revenue from hardware sales and a growing aftermarket business covering spare parts and service contracts. The company operates globally, with strong roots in Europe and expanding presence in North America and other markets. Its broad dealer network and installed base of equipment create a recurring aftermarket revenue stream, which helps cushion downturns in new equipment demand. The main risk is that sales of new equipment are closely tied to trucking and construction activity, making revenue sensitive to economic slowdowns and freight market cycles.

Share count broadly stable

0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 64.6M (2021) → 64.3M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
30.3%
Modest — 30.3% gross margin
Profit after running costs
Operating Margin
13.3%
Healthy — 13.3% operating margin
Return on the money invested
ROCE
17.3%
Strong — 17.3% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-15.8%
Shrinking sales (-15.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
91%
Modest — 91% of profit becomes cash
Spare cash per sale
FCF Margin
7.1%
Modest free cash flow (7.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
12.55x
Comfortably covers interest (12.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
32.0x
Pricey — P/E 32.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+18.1
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (32.0 → 13.9)

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Dividends

Dividend
Dividend Yield
4.66%
Healthy income — 4.66% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+48.2%
Dividend growing fast (48.2% YoY)

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