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EquipmentShare.com, Inc.
(NASDAQ:EQPT)
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Rating:55Neutral
Price Target:
$20.00
▲(9.29% Upside)
Action:Reiterated
Date:08/19/26
EQPT scores as a mid-range opportunity: strong earnings-call momentum and growth outlook support the score, but heavy leverage and consistently negative free cash flow are major constraints. Valuation is demanding, and technical signals are neutral, offering limited additional support.
Positive Factors
Strong Rental Growth and Customer Demand
Rapid rental growth and strong fleet absorption indicate sustained customer demand and expanding market reach. Continued adoption by national and regional contractors can support revenue growth as the rental network scales.
Negative Factors
Very High Financial Leverage
Heavy leverage reduces financial flexibility and increases sensitivity to funding costs, utilization and rental pricing. A weaker construction cycle could make refinancing, fleet investment and balance-sheet deleveraging more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Rental Growth and Customer Demand
Rapid rental growth and strong fleet absorption indicate sustained customer demand and expanding market reach. Continued adoption by national and regional contractors can support revenue growth as the rental network scales.
Read all positive factors
EquipmentShare.com, Inc. (EQPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.64B
Dividend YieldN/A
Average Volume (3M)3.29M
Price to Earnings (P/E)188.2
Beta (1Y)2.20
Revenue Growth18.16%
EPS GrowthN/A
CountryUS
Employees9,203
SectorGeneral
Sector StrengthN/A
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.09
Shares Outstanding215,807,020
10 Day Avg. Volume4,250,020
30 Day Avg. Volume3,286,504
Financial Highlights & Ratios
PEG Ratio-83.57
Price to Book (P/B)16.41
Price to Sales (P/S)1.98
P/FCF Ratio-4.80
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.57Price Target Upside56.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.43
Revenue Forecast (FY)$5.55B
EquipmentShare.com, Inc. Business Overview & Revenue Model
Company Description
EquipmentShare.com Inc., a company founded in Columbia, Missouri, in 2014, offers comprehensive, integrated solutions to the construction industry. Its primary activities involve equipment rental, sales, and the deployment of advanced technology. ...
How the Company Makes Money
EquipmentShare makes money primarily by providing equipment-related services and software to construction and industrial customers. Key revenue streams include: (1) Equipment rental revenue from renting heavy equipment and tools to contractors and...
EquipmentShare.com, Inc. Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 24, 2027
Earnings Call Sentiment Positive
The call presented a strong operational and financial performance: high organic growth (rental revenue +39% YoY), expanding adjusted core EBITDA (+34% YoY), attractive margins in mature markets (55% TTM), near $10B fleet under management, and healthy liquidity and capital options (pro forma $2.8B). Management signaled conservative but derisked guidance with upside potential, continued fleet deployment momentum and a scalable OWN program with ~7% implied cost of capital for recent vintages. Key risks discussed included a ~50 bps fuel headwind, reliance on the OWN sale-leaseback strategy and timing/lag in third-party appraisals relative to rising OEC, plus remaining governance-related related-party wind-down items and concentration in mega projects which create regulatory exposure. Overall the positives (strong growth, margin expansion, liquidity, OWN economics and market share gains) outweigh the noted operational and governance risks.Positive Updates
Strong Top-Line Growth
Total revenue of $1.4 billion, up 26% year-over-year; Rental segment revenue of $908 million, up more than 39% year-over-year.
Negative Updates
Fuel Cost Headwind
Approximately 50 basis point headwind to Rental segment margins in the quarter due to increased fuel costs, partially offset by price passes and efficiencies.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Top-Line Growth
Total revenue of $1.4 billion, up 26% year-over-year; Rental segment revenue of $908 million, up more than 39% year-over-year.
Read all positive updates
Company Guidance
Management kept a conservative, “derisked” outlook: the midpoint of Rental segment revenue guidance implies roughly 33% full‑year growth and about 28% rental revenue growth in the back half of 2026 (vs. a 36% back‑half ’25 comp), following Q2 rental revenue of $908M (+>39% y/y) and total revenue of $1.4B (+26% y/y). They noted strong fleet absorption (putting >$750M of new fleet on rent in Q2), nearly $10B of fleet under management, and a branch mix that is 56% mature locations generating 55% trailing‑12‑month rental EBITDA margins, which supports modest rental‑segment margin expansion in H2 and upside potential to outperform the guide; Q2 rental segment adjusted EBITDA was $449M (including ~$60M of new‑market start‑up costs) and adjusted core EBITDA was $531M (+34% y/y). Management also highlighted capital flexibility—$2.8B available liquidity, net leverage ~3.0x, a $500M share‑repurchase authorization (through 12/31/2028) and attractive OWN program economics (H1 implied cost of capital ~7%) as support for the outlook.EquipmentShare.com, Inc. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
34
Negative
Cash Flow
27
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 4.95B | 4.38B | 3.76B | 2.56B |
| Gross Profit | 1.41B | 1.20B | 918.20M | 749.10M |
| EBITDA | 788.20M | 704.00M | 606.50M | 536.90M |
| Net Income | 61.50M | 40.00M | 2.60M | 17.30M |
Balance Sheet | ||||
| Total Assets | 7.11B | 5.99B | 5.23B | 4.90B |
| Cash, Cash Equivalents and Short-Term Investments | 443.00M | 306.00M | 457.30M | 349.40M |
| Total Debt | 4.81B | 4.18B | 4.03B | 3.81B |
| Total Liabilities | 5.53B | 5.46B | 4.36B | 4.03B |
| Stockholders Equity | 1.58B | 528.00M | 873.00M | 872.70M |
Cash Flow | ||||
| Free Cash Flow | -1.69B | -1.80B | -1.50B | -1.00B |
| Operating Cash Flow | 249.40M | 264.00M | 281.30M | 278.80M |
| Investing Cash Flow | -1.26B | -980.00M | -418.90M | -613.90M |
| Financing Cash Flow | 1.09B | 615.00M | 227.80M | 408.00M |
EquipmentShare.com, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $64.58B | 24.85 | 29.18% | 0.66% | 6.88% | 7.64% | |
71 Outperform | $2.78B | 18.05 | 12.44% | 1.63% | -0.92% | -39.51% | |
61 Neutral | $2.20B | 97.56 | 2.66% | ― | 7.03% | ― | |
57 Neutral | $5.20B | 102.45 | 2.56% | 1.72% | 28.50% | 67.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $4.64B | 188.20 | 5.20% | ― | 18.16% | ― | |
55 Neutral | $3.79B | -56.49 | -7.45% | 1.06% | -2.51% | -162.51% |
* General Sector Average
EQPT
EquipmentShare.com, Inc.
17.71
-14.85
-45.61%
WSC
WillScot Mobile Mini Holdings
20.90
-3.04
-12.69%
HRI
Herc Holdings
150.60
21.67
16.81%
MGRC
Mcgrath Rentcorp
112.28
-7.17
-6.00%
URI
United Rentals
1,030.25
81.66
8.61%
CTOS
Custom Truck One Source
9.20
3.06
49.84%
EquipmentShare.com, Inc. Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
EquipmentShare Raises 2026 Outlook, Launches Share Buyback
Positive
Jul 10, 2026
On July 9, 2026, EquipmentShare raised its full-year 2026 financial outlook on the back of stronger-than-expected first-half performance, increasing guidance for total revenue to a range of $5.25 billion to $5.68 billion and rental segment revenue...
Private Placements and Financing
EquipmentShare completes $1.35 billion senior notes offering
Positive
Jul 2, 2026
On July 1, 2026, EquipmentShare.com Inc. closed a private offering of $1.35 billion in new senior secured second lien notes due July 1, 2034, carrying a 7.125% annual interest rate and payable semiannually beginning January 1, 2027. The notes were...
Business Operations and StrategyPrivate Placements and Financing
EquipmentShare Upsizes Private Offering of 2034 Secured Notes
Positive
Jun 16, 2026
On June 16, 2026, EquipmentShare.com Inc. announced it had upsized and priced a private offering of $1.35 billion in senior secured second lien notes due 2034, increasing the deal by $300 million from the originally proposed size. The notes, beari...
Business Operations and StrategyPrivate Placements and Financing
EquipmentShare Announces $1.05 Billion Senior Notes Offering
Positive
Jun 16, 2026
On June 16, 2026, EquipmentShare.com Inc. announced a private offering of $1.05 billion in senior secured second-lien notes due 2034, to be sold to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. investors under Regulati...
Executive/Board ChangesShareholder Meetings
EquipmentShare Refreshes Board Following Recent IPO Transition
Positive
Jun 10, 2026
On June 4, 2026, EquipmentShare.com Inc. held its annual shareholders’ meeting, at which investors elected all director nominees to serve until the 2027 meeting, ratified KPMG LLP as auditor for 2026 and approved executive compensation on an...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.