EquipmentShare.com (EQPT) financial statements
EquipmentShare.com reported revenue of $4.4B in fiscal 2025, up 30.9% a year over 2 years.
Net income was $40M and the operating margin 6.8%, against 9.8% in 2023.
Free cash flow was $220M, and the company returned $37M in dividends.
The diluted share count rose 201% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from EquipmentShare.com's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $2.6B | $3.8B | $4.4B |
| Cost of revenue | $1.8B | $2.8B | $3.1B |
| Gross profit | $759M | $946M | $1.2B |
| Selling, general and admin | $509M | $728M | $942M |
| Operating income | $250M | $218M | $297M |
| Interest expense | $213M | $261M | $285M |
| Pre-tax income | $21M | $6M | $54M |
| Income tax | $4M | $3M | $14M |
| Net income | $17M | $3M | $40M |
| EPS (diluted) | -$0.20 | -$0.48 | $0.01 |
| Diluted shares | 75M | 77M | 226M |
| Gross margin | 29.7% | 25.1% | 28.3% |
| Operating margin | 9.8% | 5.8% | 6.8% |
| Net margin | 0.7% | 0.1% | 0.9% |
Balance sheet
Fiscal years, from EquipmentShare.com's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $316M | $407M | $306M |
| Receivables | — | $563M | $748M |
| Inventory | — | $331M | $401M |
| Total current assets | — | $1.4B | $1.7B |
| Property, plant and equipment | — | $339M | $504M |
| Total assets | — | $4.8B | $6.0B |
| Total current liabilities | — | $658M | $880M |
| Long-term debt | — | $2.5B | $3.3B |
| Total liabilities | — | $3.9B | $5.1B |
| Shareholders' equity | $588M | $549M | $528M |
| Net debt | -$316M | $2.1B | $3.0B |
Cash flow
Fiscal years, from EquipmentShare.com's 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | $279M | $282M | $264M |
| Capital spending | $42M | $47M | $44M |
| Free cash flow | $237M | $235M | $220M |
| Stock-based compensation | $3M | $4M | $4M |
| Dividends paid | $5M | $9M | $37M |
| Net borrowing | $1.6B | $2.4B | $2.4B |
| Free cash flow margin | 9.3% | 6.2% | 5.0% |
| Dividends per share | $0.07 | $0.12 | $0.16 |
Questions
What was EquipmentShare.com's revenue in 2025?
$4.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does EquipmentShare.com generate?
$220M in fiscal 2025 (operating cash flow minus capital spending).
From EquipmentShare.com's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.