Hyzon Motors Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Hyzon Motors Inc (HYZN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Hyzon Motors Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 11M vs 286,231M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-95.0% annualized vs trailing 12 months), vs decelerating (-5.4%) for its tracked peer group.
- Profitability: Its -30,835.8% net margin compares with 9.7% for the peer group.
- Peer revenue share: Hyzon Motors Inc accounted for 0.0% of combined revenue among its tracked peer group.
- Peer differentiation: Revenue per employee of $0.06M compares with $1.61M for the peer group (0.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
HYZN Sales vs. its Competitors, Q3 2024
With a net margin of -30,835.82 %, Hyzon Motors Inc reported lower profitability than its competitors (9.65 %).
Hyzon Motors Inc generated 0.00 % of the combined sales of its peer group.
Hyzon Motors Inc vs. its Competitors, Q3 2024
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Hyzon Motors Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Hyzon Motors Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (8) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Hyzon Motors Inc's competitor groups requires a Commercial License.
Hyzon Motors Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Hyzon Motors Inc | No | - | - | Yes |
| Competitors combined (5) | ||||
| High-Confidence Competitors (10) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
HYZN Stock Performance relative to its Competitors
HYZN Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Chevron Corp | 282.9% | Outperformed |
| 2 | Cummins Inc | 282.9% | Outperformed |
| 3 | Linde Plc | 282.9% | Outperformed |
| 4 | Plug Power Inc | 282.9% | Outperformed |
| 5 | Nikola Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Hyzon Motors Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Hyzon Motors Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Hyzon Motors Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Hyzon Motors Inc | 3.42 | 10.73 |
| Chevron Corp | 402,107.96 | 215,261.00 |
| Linde Plc | 220,808.69 | 35,449.00 |
| Cummins Inc | 72,031.08 | 34,708.00 |
| Plug Power Inc | 2,650.26 | 744.09 |
| Nikola Corporation | 9.98 | 68.57 |
| SUBTOTAL | 697,611.39 | 286,241.39 |
Sources: Hyzon Motors Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Hyzon Motors Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Hyzon Motors Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Cummins | Named by the company | 85% |
| Nikola | Named by the company | 85% |
| Plug Power | Named by the company | 85% |
| Hyundai | Named by the company | 85% |
| PACCAR | Named by the company | 85% |
| Toyota | Named by the company | 85% |
| Bosch | Named by the company | 85% |
| ElringKlinger | Named by the company | 85% |
| Navistar | Named by the company | 85% |
| PowerCell | Named by the company | 85% |
| Autocar | Named by the company | 85% |
| Daimler | Named by the company | 85% |
| Isuzu | Named by the company | 85% |
| Peterbilt | Named by the company | 85% |
| Volvo | Named by the company | 85% |
| cellcentric GmbH & Co. KG | Named by the company | 85% |
| Freightliner | Named by the company | 85% |
| Tesla | Named by the company | 85% |
| Ballard | Named by the company | 85% |
| EKPO | Named by the company | 85% |
| Kenworth | Named by the company | 85% |
| Xos | Named by the company | 85% |
| Chevron Corp | Named by the company | 85% |
| Linde Plc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Hyzon Motors Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Hyzon Motors Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Chevron Corp | Reportable Segment, Aggregation before Other Operating 99.73 % |
| Linde Plc | Americas 43.96 % |
| Cummins Inc | Distribution 35.17 % |
| Plug Power Inc | Single Reportable Segment 100.00 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Hyzon Motors Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Hyzon Motors Inc | 3 | 60,938 | -999,261 |
| Chevron Corp | 402,108 | 5,001,533 | 487,116 |
| Linde Plc | 220,809 | 543,888 | 113,798 |
| Cummins Inc | 72,031 | 514,955 | 41,944 |
| Plug Power Inc | 2,650 | 602,012 | -1,378,820 |
| Nikola Corporation | 10 | 72,951 | -1,019,393 |
| PEERS TOTAL | 697,608 | 1,609,919 | 160,561 |
Hyzon Motors Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Hyzon Motors Inc | United States 100.00 % |
| Cummins Inc | United States 56.10 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Hyzon Motors Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Industrial Machinery and Components industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (166 companies). See the full Industrial Machinery and Components industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 100.00 % | 28.58 % (avg) | +71.4 pp |
| Operating Margin | -1,557.31 % | industry median | -1,566.2 pp |
| EBITDA Margin | -1,600.56 % | 3.86 % (avg) | -1,604.4 pp |
| Capital Intensity (Capex / Revenue) | 44.34 % | 5.98 % (avg) | +38.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Hyzon Motors Inc's Valuation vs Competitive Position
Valuation multiples vs the Industrial Machinery and Components industry average (166 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Industrial Machinery and Components industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 33.3x | - |
| EV / EBITDA | - | 19.5x | - |
| P/B | 0.1x | 4.0x | -4.0x |
| Return on Equity | -240.42 % | industry aggregate | -257.68 % |
| Return on Invested Capital | -99.21 % | 1.28 % (avg) | -100.49 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Hyzon Motors Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue Growth | - | - | - |
| Operating Margin | - | -14,664.66 % | - |
| Return on Invested Capital | -2.40 % | -20.73 % | -43.55 % |
| P/E | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Hyzon Motors Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 44.34 % vs industry average 5.98 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Hyzon Motors Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Hyzon Motors Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Hyzon Motors Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Hyzon Motors Inc falls in the Low attractiveness / Low strength cell: Harvest / Divest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Hyzon Motors Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Operating margin 1,566.2 points below the industry median.
- Return on equity 257.7 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-95.0% annualized vs trailing 12 months).
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-5.4% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Hyzon Motors Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Hyzon Motors Inc | 1.70 | 2.82 | 0.00 |
| Chevron Corp | 0.01 | 1.16 | 0.21 |
| Linde Plc | 0.29 | 0.85 | 0.67 |
| Cummins Inc | 0.19 | 1.76 | 0.64 |
| Plug Power Inc | 0.64 | 1.97 | 0.43 |
| Nikola Corporation | 0.81 | 1.37 | 0.69 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Hyzon Motors Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Hyzon Motors Inc | Q3 2024 | - | - |
| Chevron Corp | Q2 2026 | +56.3 % | +385.6 % |
| Linde Plc | Q2 2026 | +9.3 % | +9.2 % |
| Cummins Inc | Q2 2026 | +9.4 % | +4.3 % |
| Plug Power Inc | Q2 2026 | +2.5 % | - |
| Nikola Corporation | Q4 2024 | -59.7 % | - |
| PEERS TOTAL | +43.2 % | +199.5 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Hyzon Motors Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Hyzon Motors Inc | Q3 2024 | - | -83.8 % |
| Chevron Corp | Q2 2026 | +36.3 % | +22.3 % |
| Linde Plc | Q2 2026 | +12.9 % | +14.4 % |
| Cummins Inc | Q2 2026 | +9.9 % | +7.8 % |
| Plug Power Inc | Q2 2026 | -20.9 % | -24.1 % |
| Nikola Corporation | Q4 2024 | +52.6 % | -72.9 % |
Hyzon Motors Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Hyzon Motors Inc | - | - | - |
| Chevron Corp | 6.40% | 6.49% | 10.85% |
| Linde Plc | 8.54% | 10.43% | 18.49% |
| Cummins Inc | 8.21% | 10.31% | 21.02% |
| Plug Power Inc | - | - | - |
| Nikola Corporation | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Hyzon Motors Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Hyzon Motors Inc | - | 0.32 |
| Chevron Corp | 19.33 | 1.87 |
| Linde Plc | 30.75 | 6.23 |
| Cummins Inc | 26.56 | 2.08 |
| Plug Power Inc | - | 3.56 |
| Nikola Corporation | - | 0.15 |
| PEERS AVERAGE | 24.59 | 2.44 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.