Sunbelt Rentals Holdings, Inc. SUNB
We believe we are one of the largest international equipment rental companies by rental revenue, with a network of 1,611 stores across North America and the United Kingdom as of April 30, 2026. We conduct our equipment rental operations under the name "Sunbelt Rentals." We believe that Sunbelt Rentals is the second largest equipment rental business in North America and the largest equipment rental company in the United Kingdom, in each case, by rental revenue. In the fiscal year ended April 30, 2026, we generated revenue of $11,154 million, operating income of $2,181 million and adjusted operating profit of $2,500 million and in the fiscal year ended April 30, 2025, we generated revenue of $10,791 million, operating income of $2,499 million and adjusted operating profit of $2,615 million. See Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations—Key Financial Metrics—Non-GAAP Financial Measures" for a definition and reconciliation of adjusted operating profit to the most directly comparable U.S. GAAP measure.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $2.51B | $2.40B | $2.80B | — |
| Cost of revenue | $6.86B | $6.47B | $6.38B | — |
| Gross profit | $4.29B | $4.32B | $4.48B | — |
| SG&A | $1.65B | $1.39B | $1.57B | — |
| Operating income | $2.18B | $2.50B | $2.51B | — |
| Pre-tax income | $1.80B | $2.07B | $2.09B | — |
| Income tax | $476.0M | $517.0M | $522.0M | — |
| Net income | $1.3K | $1.55B | $1.57B | — |
| EPS, basic | 3.15 | 3.56 | 3.60 | — |
| EPS, diluted | 3.15 | 3.55 | 3.58 | — |
| Shares, diluted (wtd. avg.) | $421.0M | $437.0M | $439.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $29.0M | $21.0M | $21.0M | $30.0M |
| Receivables | $1.67B | $1.48B | — | — |
| Inventory | $180.0M | $147.0M | — | — |
| Total current assets | $2.23B | $2.02B | — | — |
| Goodwill | $3.48B | $3.35B | $3.28B | — |
| Other intangibles | $338.0M | $433.0M | — | — |
| Total assets | $22.27B | $21.97B | — | — |
| Accounts payable | $472.0M | $302.0M | — | — |
| Short-term debt | $550.0M | $0 | — | — |
| Total current liabilities | $2.48B | $1.56B | — | — |
| Long-term debt | $7.03B | $7.50B | — | — |
| Total liabilities | $14.86B | $14.17B | — | — |
| Retained earnings | $7.65B | $9.10B | — | — |
| Total equity | $7.41B | $7.80B | $7.06B | $6.01B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $3.78B | $3.84B | $3.66B | — |
| Depreciation and amortisation | $2.31B | $2.25B | $2.05B | — |
| Stock-based compensation | $80.0M | -$9.0M | $92.0M | — |
| Investing cash flow | -$1.93B | -$2.32B | -$4.43B | — |
| Financing cash flow | -$1.85B | -$1.53B | $755.0M | — |
| Dividends paid | $464.0M | $544.0M | $436.0M | — |
| Buybacks | $1.41B | $342.0M | $78.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-310387.
Others in SIC 7359
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| URI | UNITED RENTALS, INC. | $63.26B | 26.2x | 3.0% |
| MGRC | MCGRATH RENTCORP | $2.73B | 17.6x | 3.7% |
| CTOS | Custom Truck One Source, Inc. | $2.09B | — | 6.4% |
| PRG | PROG Holdings, Inc. | $1.56B | 10.9x | 0.4% |
| EQPT | EquipmentShare.com Inc | $1.52B | 1,955.0x | 3.2% |
| UPBD | UPBOUND GROUP, INC. | $1.11B | 15.2x | 8.7% |
| KPLT | Katapult Holdings, Inc. | $39.3M | — | 18.0% |
| TRTN-PA | Triton International Ltd | — | — | 22.4% |