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Hiab Corporation

HIAB.HE
45
Industrial - Machinery · Industrials
Price
€61.40
+0.25 (+0.41%)
Market Cap
€3.96B
Exchange
NASDAQ Helsinki
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 9, 2026 · filings through Jun 30, 2026

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.

Winston Score History

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

Gross Margin
30.3%
Modest — 30.3% gross margin
Operating Margin
13.3%
Healthy — 13.3% operating margin
ROCE
5.3%
Weak — 5.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
-15.8%
Shrinking sales (-15.8% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
91%
Modest — 91% of profit becomes cash
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

Debt / Equity
N/A
Data not available
Interest Cover
12.55x
Comfortably covers interest (12.6x)

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

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Valuation

P/E Ratio (TTM)
31.5x
Pricey — P/E 31.5

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

P/E vs Forward
+17.6
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (31.5 → 13.9)

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Dividends

Dividend Yield
4.66%
Healthy income — 4.66% yield

Generous yield. Worth checking whether the payout is sustainable.

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

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