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EquipmentShare is a vertically integrated platform that combines proprietary technology, a connected equipment fleet, and a nationwide footprint to serve the construction industry. More than a rental company, EquipmentShare delivers jobsite visibility and control through its cloud-based platform ( T3 ), which integrates embedded telematics hardware, software applications, and real-time data to …
Operating margin is thin at 6.78%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 16.3%, still solid.
ROIC dropped from 9.80% to 6.65%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$4.38B
▲ +16.3% YoY
Net Income (TTM)
$40M
▲ +1233.3% YoY
Op. Margin
6.78%
▲ +1.0pp YoY
ROIC
6.65%
▼ -3.2pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$264M
▼ -6.4% YoY
Net Debt
$3.88B
Cash & Equiv.
$306M
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