EQPT
EQPT
EquipmentShare.com Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $943.9M ▼ | $231.1M ▲ | $6.3M ▼ | 0.67% ▼ | $-0.02 ▼ | $185.2M ▼ |
| Q4-2024 | $1.55B ▲ | $204.3M ▲ | $49.6M ▲ | 3.19% ▲ | $0.15 ▲ | $219.4M ▲ |
| Q3-2024 | $776.3M | $180.6M | $1.2M | 0.15% | $-0.04 | $161.9M |
What's going well?
Gross margins improved, meaning the company is keeping more from each sale. The business is still generating operating profit before interest and taxes.
What's concerning?
Revenue collapsed by nearly 40%, and the company swung from a solid profit to a loss. Costs are rising even as sales fall, and debt interest is eating up much of the profit.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $469.7M ▲ | $6.09B ▲ | $5.27B ▲ | $819.8M ▼ |
| Q4-2024 | $457.3M | $5.23B | $4.36B | $873M |
What's financially strong about this company?
The company has enough current assets to cover short-term bills and has invested heavily in physical assets, which could support future growth. Liquidity improved this quarter, and some customers are prepaying.
What are the financial risks or weaknesses?
Debt is very high compared to equity, and losses are piling up. The company is tying up more cash in inventory and receivables, and a big jump in goodwill could be risky if acquisitions don't work out.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $49.6M | $177.1M | $311.1M | $-360.3M | $406.5M | $-390.3M |
What's strong about this company's cash flow?
The business generates $177.1 million in cash from its core operations, and reported profits are backed by even stronger cash flow. The company is not increasing debt and has grown its cash balance this quarter.
What are the cash flow concerns?
Heavy spending on capital investments means the company is burning $390.3 million in free cash flow. Cash flow is also hurt by rising receivables and inventory, and the business is dependent on outside funding or asset sales to keep going.
5-Year Trend Analysis
A comprehensive look at EquipmentShare.com Inc.'s financial evolution and strategic trajectory over the past five years.
EquipmentShare’s main strengths are its very strong revenue growth, steadily improving operating cash generation, and a differentiated competitive position built on the T3 technology platform and integrated rental network. The balance sheet shows improving liquidity and a growing asset base that supports expansion. On the strategic side, the company benefits from network effects, proprietary data, and a customer-centric approach that appears to drive adoption and loyalty.
Key risks include deteriorating profitability, thin or negative net margins, and consistently negative free cash flow driven by very high capital spending. Rising leverage and heavy reliance on external financing heighten sensitivity to interest rates, credit conditions, and any slowdown in construction activity. Competitive pressures from much larger rental peers and emerging software providers, along with the possibility that technology advantages narrow over time, also represent important uncertainties.
The overall picture is of a fast-growing, technology-enabled industrial company still in an aggressive build-out phase. If management can translate scale and ongoing investment into better cost discipline, stronger margins, and eventually positive free cash flow, the financial profile could improve meaningfully over time. Until then, the story is characterized by strong market traction and innovation on one side, and capital intensity, leverage, and margin pressure on the other, making future execution and industry conditions especially important to monitor.
About EquipmentShare.com Inc.
https://www.equipmentshare.comEquipmentShare.com Inc. provides integrated, full-service construction solutions across equipment rental, sales, and technology. The company develops EquipmentShare, a digitally-native equipment rental platform servicing jobsites nationwide.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $943.9M ▼ | $231.1M ▲ | $6.3M ▼ | 0.67% ▼ | $-0.02 ▼ | $185.2M ▼ |
| Q4-2024 | $1.55B ▲ | $204.3M ▲ | $49.6M ▲ | 3.19% ▲ | $0.15 ▲ | $219.4M ▲ |
| Q3-2024 | $776.3M | $180.6M | $1.2M | 0.15% | $-0.04 | $161.9M |
What's going well?
Gross margins improved, meaning the company is keeping more from each sale. The business is still generating operating profit before interest and taxes.
What's concerning?
Revenue collapsed by nearly 40%, and the company swung from a solid profit to a loss. Costs are rising even as sales fall, and debt interest is eating up much of the profit.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $469.7M ▲ | $6.09B ▲ | $5.27B ▲ | $819.8M ▼ |
| Q4-2024 | $457.3M | $5.23B | $4.36B | $873M |
What's financially strong about this company?
The company has enough current assets to cover short-term bills and has invested heavily in physical assets, which could support future growth. Liquidity improved this quarter, and some customers are prepaying.
What are the financial risks or weaknesses?
Debt is very high compared to equity, and losses are piling up. The company is tying up more cash in inventory and receivables, and a big jump in goodwill could be risky if acquisitions don't work out.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $49.6M | $177.1M | $311.1M | $-360.3M | $406.5M | $-390.3M |
What's strong about this company's cash flow?
The business generates $177.1 million in cash from its core operations, and reported profits are backed by even stronger cash flow. The company is not increasing debt and has grown its cash balance this quarter.
What are the cash flow concerns?
Heavy spending on capital investments means the company is burning $390.3 million in free cash flow. Cash flow is also hurt by rising receivables and inventory, and the business is dependent on outside funding or asset sales to keep going.
5-Year Trend Analysis
A comprehensive look at EquipmentShare.com Inc.'s financial evolution and strategic trajectory over the past five years.
EquipmentShare’s main strengths are its very strong revenue growth, steadily improving operating cash generation, and a differentiated competitive position built on the T3 technology platform and integrated rental network. The balance sheet shows improving liquidity and a growing asset base that supports expansion. On the strategic side, the company benefits from network effects, proprietary data, and a customer-centric approach that appears to drive adoption and loyalty.
Key risks include deteriorating profitability, thin or negative net margins, and consistently negative free cash flow driven by very high capital spending. Rising leverage and heavy reliance on external financing heighten sensitivity to interest rates, credit conditions, and any slowdown in construction activity. Competitive pressures from much larger rental peers and emerging software providers, along with the possibility that technology advantages narrow over time, also represent important uncertainties.
The overall picture is of a fast-growing, technology-enabled industrial company still in an aggressive build-out phase. If management can translate scale and ongoing investment into better cost discipline, stronger margins, and eventually positive free cash flow, the financial profile could improve meaningfully over time. Until then, the story is characterized by strong market traction and innovation on one side, and capital intensity, leverage, and margin pressure on the other, making future execution and industry conditions especially important to monitor.
CEO
Jabbok Schlacks
Compensation Summary
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Ratings Snapshot
Rating : C-