One-glance verdict
Undervalued
$99.54 our estimate vs market $64.00
36% below our estimate, below the bear case
Fundamentals snapshot
Hiab Oyj
CYJBF · PNK · Industrials · Farm & Heavy Construction Machinery
Current price
$64.00
52-week range
$64.00 - $83.59
Market cap
$4.13B
Balance sheet
Healthy
22.75x Strong cushion
Net cash $176.75M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Returns 12.3% on equity, ahead of 66% of its peers.
- Reward Free cash flow was positive in 4/10 years.
- Reward Trades at 24.6x P/E vs peer median 28.1x (12.5% cheaper).
What this company does
Hiab Oyj
Hiab Oyj makes the heavy-duty cranes, forklifts, and lifts you see on trucks used in construction, recycling, and delivery. The company earns money selling this equipment and providing follow-up maintenance, meaning its success is often tied to how busy these essential industries are in building and moving goods for the economy.
How the company got here
Hiab's story begins in 1944 with a Swedish ski manufacturer who needed a better way to move heavy logs. [12, 14] He invented a truck-mounted crane that used the truck's own engine for power, a revolutionary idea at the time. [12, 14] This invention was so successful it became its own business, named HIAB, which stands for Hydrauliska Industri AB. [12, 19] Over the decades, the company grew by acquiring other brands and expanding its product line. [1] It was recently part of a larger company called Cargotec, but in 2025, Cargotec spun off its other businesses to focus solely on Hiab's operations, making Hiab an independent, publicly-traded company. [1, 7]
What it actually does
Hiab makes specialized heavy machinery that attaches to trucks to help them lift and move materials. [1, 2] Think of a construction truck with a built-in crane arm, a delivery truck with a forklift that rides on the back, or a garbage truck that lifts large containers. [3, 19] These 'on-road load-handling solutions' are used by businesses in construction, shipping, recycling, and even defense to move goods and materials efficiently. [3] The company sells its equipment under several well-known brand names, including HIAB for cranes, MOFFETT for truck-mounted forklifts, and MULTILIFT for systems that load and unload containers. [5]
Equipment
This is the company's largest business, making up the majority of its sales. [16] It involves designing, manufacturing, and selling brand-new machinery. [4, 16] Customers in industries like construction or logistics pay Hiab for things like loader cranes, truck-mounted forklifts, and tail lifts (the moving platform on the back of a delivery truck). [4] This segment is the core of what Hiab has been doing since it was founded.
Services
This part of the business supports customers after they've bought a piece of Hiab machinery, and it brings in a smaller but significant share of the company's revenue (the total money a company brings in from sales). [16, 18] This includes selling spare parts, providing maintenance and repairs, and installing the equipment onto trucks. [4] The Services division also sells refurbished equipment and offers digital solutions that help customers track and manage their machines. [4] This creates an ongoing relationship with customers long after the initial purchase.
What management is betting on now
Hiab is heavily focused on making its equipment 'smarter' and more environmentally friendly. [5, 7] This means developing electric-powered equipment and using fossil-free steel to reduce the carbon footprint (the total greenhouse gas emissions caused by an organization or product) of its products. [11] The company is also investing in digital technology, like remote diagnostics that can monitor a machine's health and automation features that make equipment safer and easier to use. [5, 10] Management's strategy is to lead the industry in sustainable and intelligent load handling, setting ambitious goals for sales growth and profitability (the ability of a business to make a profit). [9]
Price history
How the share price has moved
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Is it cheap or expensive?
Fair value $99.54 vs current price $64.00
Our most-likely fair value is $99.54 a share — about 55.5% above today's price of $64.00, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $176.7M - more cash than debt. Interest coverage 22.7x.
Net debt
$-176.75M
Interest coverage
22.75x
Hiab Oyj's profit covers its interest bill about 22.7 times over. which is stronger than every peer shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
CYJBF
BASELINE
Hiab Oyj
Total debt $1.33B Interest coverage 22.75x This is the baseline the peer rows are being compared against.
Total debt $2.69B Interest coverage 2.68x -88% vs CYJBF Carries about 8.5x less debt cushion than CYJBF.
Total debt $1.10B Interest coverage 8.04x -65% vs CYJBF Carries about 2.8x less debt cushion than CYJBF.
Total debt $538.00M Interest coverage 1.56x -93% vs CYJBF Carries about 14.6x less debt cushion than CYJBF.
Total debt $2.47B Interest coverage -0.37x -100% vs CYJBF This peer has almost no interest-payment cushion compared with CYJBF.
Total debt $500.00M Interest coverage 0.52x -98% vs CYJBF Carries about 43.5x less debt cushion than CYJBF.
What you should know
The case for and against CYJBF
3 Rewards
0 Risks
Rewards
-
Returns 12.3% on equity, ahead of 66% of its peers.
-
Free cash flow was positive in 4/10 years.
-
Trades at 24.6x P/E vs peer median 28.1x (12.5% cheaper).
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
24.62x
Forward P/E
—
P/B
3.56x
P/S
2.70x
EV/EBITDA
27.23x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
29.1%
Operating margin
12.3%
Net margin
8.2%
ROE
12.3%
ROA
4.3%
Health
Liquidity and balance-sheet strength
Debt / equity
1.14x
Current ratio
2.69x
Quick ratio
2.27x
Total debt
$1.33B
Total cash
$1.50B
Growth
How the business has been compounding
Revenue TTM
$1.75B
Revenue 5Y CAGR
-27.5%
EPS TTM
2.60
EPS 5Y CAGR
90.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$216.42M
Free CF TTM
$196.64M
FCF margin
11.2%
Dividend
Shareholder payout
Yield
—
Payout ratio
53.6%
Last ex-div date
2026-03-25