HLIONYSEMiscellaneous Fabricated Metal ProductsUS GAAP · USD

Helios Technologies, Inc

Helios Technologies, Inc. designs and manufactures engineered motion-control and electronic control solutions used in industrial and mobile equipment. Its business is organized around hydraulics and electronics, supplying components and systems that help customers control power, movement, and automation in demanding applications.

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Revenue839m USD
+4.1 %y/y
Operating profit (EBIT)66.0m USD
−19.3 %y/y
EBIT margin7.9%
−2.3 ppy/y
Net income48.4m USD
+24.1 %y/y
Free cash flow104m USD
+8.9 %y/y

Fiscal year 2026 · change from previous year

Development 2020–2026

02004006008001,000m USD2020: EBIT 10 m USD20202021: 523 m USD2021: EBIT 35 m USD20212022: 885 m USD2022: EBIT 137 m USD20222023: 836 m USD2023: EBIT 80 m USD20232024: 806 m USD2024: EBIT 82 m USD20242026: 839 m USD2026: EBIT 66 m USD202683966
RevenueOperating profit (EBIT)

Business

Share of revenue
Hydraulics70 %

Hydraulic products and assemblies used in motion-control and power-transmission applications.

Electronics30 %

Electronic control products and systems used to manage equipment functions and automation.

Customers

Helios sells into capital goods end markets, so its customers are equipment makers and distributors that need reliable motion-control components. The company also serves industrial users exposed to economic cycles, which makes demand sensitive to manufacturing activity, customer inventory levels, and end-market capex. Export customers are important as the company ships products from U.S. locations to more than 40 countries.

Industrial OEMs

Buy hydraulic and electronic control components for equipment platforms and value reliability, integration, and supply continuity.

Mobile equipment manufacturers

Buy motion-control and hydraulic systems used in mobile machinery where performance and durability matter.

Distributors

Purchase products for resale into fragmented industrial and capital goods channels.

Export customers

Buy from U.S. production sites in international markets, especially where local sourcing or technical support is needed.

Strategy

Management is focused on optimizing the manufacturing footprint, especially in Europe, to improve efficiency and capacity allocation. It is also using regional production, local sourcing, and pricing actions to offset tariff pressure while preserving customer relationships and demand.

Regional manufacturing optimizationMedium term

Improves operating efficiency, capacity utilization, and supply resilience.

Tariff mitigationShort term

Protects margins and customer demand in a fluid trade environment.

Capital discipline and liquidity managementShort term

Supports operations, debt service, and optional share repurchases.

Geography

Q2/2026

Helios operates with a meaningful U.S. export footprint, shipping products from U.S. locations to more than 40 countries. The company is also actively optimizing its European manufacturing network, including shifting some production to Roncolo and Rivolta in Italy, which suggests geography is a key lever for cost, capacity, and tariff mitigation.

Americas56 %
Europe, Middle East and Africa25 %
Asia Pacific18 %

Share of the revenue the company reports by geography.

Risks

Helios is exposed to cyclical demand in capital goods, so customer spending can weaken when industrial activity slows. Tariffs, trade restrictions, and foreign exchange movements can affect both costs and demand, while restructuring execution and leverage add operational and financial risk.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tariff and trade-policy exposure1Cyclical end-market demand2Interest rate risk on variable debt3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Tariff and trade-policy exposureImpact: HighLikelihood: Medium

    The company exports from U.S. locations to more than 40 countries and imports components, so tariff changes can hit both cost and demand.

    Exposure: China and other export markets

  2. Cyclical end-market demandImpact: HighLikelihood: Medium

    Hydraulics and electronics serve capital goods industries that move with industrial production and customer capex.

    Exposure: Industrial and mobile equipment markets

  3. Interest rate risk on variable debtImpact: MediumLikelihood: Medium

    Borrowings under revolving credit and term loans reprice with base rates, affecting financing costs.

    Exposure: Revolving credit facility and term loans

  4. Restructuring execution riskImpact: Medium

    Facility transfers, workforce reductions, and paused restructuring phases can create disruption and one-time costs.

    Exposure: European operations and HCEE

Accounting

Judgemental items
Inventory and long-lived asset impairment

Management says estimates for impairment can materially affect assets and expenses, especially in cyclical markets.

Impact: Could create non-cash charges when demand weakens or facilities are reconfigured.

Goodwill and intangible assets

Acquisition-related assets require periodic assessment and may be written down if performance deteriorates.

Impact: Affects operating income and balance sheet carrying values.

Restructuring and accelerated amortization

Facility closures and workforce changes led to restructuring costs and accelerated amortization of the HCEE workforce intangible.

Impact: Creates near-term expense spikes and distorts underlying operating trends.

Variable-rate debt and interest expense

Borrowings under revolving credit and term loans reprice with market rates.

Impact: Higher rates increase financing costs and reduce net income.

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Last updated: 24/09/2026