EQPT EquipmentShare.com Inc
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Executive Summary
EquipmentShare (EQPT) reported strong 2025 full-year results with Rental Segment revenue up 34% to $2.72 billion and Adjusted Core EBITDA up 32% to $1.67 billion, driven by expansion to 385 locations and fleet growth. The company raised 2026 guidance, projecting Rental Segment revenue of $3.3–3.6 billion and Adjusted Core EBITDA of $1.8–1.9 billion, signaling continued momentum in its capital-light OWN Program and organic growth model.
Key Financial Metrics
Actionable Insight
The combination of strong Rental Segment growth, high-margin expansion, and capital-light OWN Program scaling suggests durable operating leverage. Traders should monitor execution on 2026 guidance, particularly Adjusted Core EBITDA progression and OWN Program payout trends, as key indicators of sustained margin expansion.
Key Facts
- Rental Segment revenue grew 34% YoY to $2.724 billion in 2025, driven by 95 new locations and fleet expansion.
- Adjusted Core EBITDA increased 32% to $1.667 billion, with mature location EBITDA margins at 54%.
- Net income surged to $40 million from $3 million in 2024, despite higher interest and startup costs.
- Company guided 2026 total revenue of $5.05–5.47 billion and Rental Segment revenue of $3.31–3.59 billion.
- OEC under management reached $8.78 billion, with OWN Program fleet comprising 56% of total fleet.
- Pro forma net leverage decreased to 2.4x post-IPO, indicating improved capital structure.
Financial Impact
Revenue growth of 16% YoY to $4.38 billion and EBITDA growth of 32% to $1.67 billion, with 2026 revenue guidance implying 15–25% growth
Risk Factors
- Rising net leverage to 3.2x (though pro forma 2.4x post-IPO) increases interest rate sensitivity.
- Equipment sales revenue declined 8% to $1.54 billion, reflecting strategic pullback but reducing near-term cash flow diversity.
- High startup costs ($252M in 2025) may pressure margins if new locations underperform.
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3258628 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 10, 2026
2d ago
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8-K
| $18.45 awaiting T+5 | awaiting T+5 | — | $19.92 (+7.97%) |
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May 13, 2026
4w ago
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8-K
| $24.50 $19.97 | ▼ −18.49% | ▼ −17.77% | $19.92 (−18.69%) |
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May 5, 2026
5w ago
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Press Release
| $19.28 $23.27 | ▲ +20.70% | ▲ +18.71% | $19.92 (+3.32%) |
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Mar 18, 2026
12w ago
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Press Release
| $22.74 $20.42 | ▼ −10.20% | ▼ −7.99% | $19.92 (−12.40%) |
US Market Status
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