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Sunbelt Rentals Holdings

SUNB
48
Rental & Leasing Services · Industrials
Price
$76.02
-0.49 (-0.64%)
Market Cap
$31.15B
Exchange
New York Stock Exchange
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 18, 2026 · filings through Jul 31, 2026

§How the score breaks down

Quality
Good
17/30
Growth
Weak
4/20
Cash Flow
Exceptional
10/10
Stability
Good
5/10
Valuation
Strong
7/10
Ownership
Mixed
4/15
Dividends
Weak
1/5

48 of 100 counted points = Winston Score 48.

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Share count falling — buybacks

−7.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 449.2M (2022) → 418.0M (2026)

§Winston Score History

The full picture

Sunbelt Rentals is one of the largest equipment rental companies in North America. Instead of selling equipment, it rents out tools and machines — things like aerial lifts, forklifts, generators, and construction tools — to contractors, manufacturers, utilities, and event organizers. It operates across the United States, Canada, and the United Kingdom, serving both large commercial projects and smaller local jobs.

The company makes money by charging daily, weekly, or monthly rental fees on its massive fleet of equipment. Owning and maintaining such a large, geographically spread fleet is expensive to replicate, which gives Sunbelt a scale advantage over smaller regional competitors. It competes mainly with United Rentals, the industry's largest player. The key growth driver is continued demand from infrastructure spending, industrial construction, and energy projects across North America, though the business is sensitive to slowdowns in construction activity, which can quickly reduce rental demand and put pressure on pricing.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+21.6% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$11.9B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Sunbelt Rentals Holdings is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
40.1%
Healthy — 40.1% gross margin
Profit after running costs
Operating Margin
22.4%
Excellent — 22.4% operating margin
Return on the money invested
ROCE
11.7%
Below par — 11.7% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+5.8%
Slow sales growth (+5.8% YoY)
Profit growth
EPS YoY
-2.9%
Earnings shrinking (-2.9% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
1/4 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
292%
Turns 292% of profit into real cash
Spare cash per sale
FCF Margin
32.2%
Converts sales into free cash efficiently (32.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
1.70
Elevated debt (1.70)
Covers its interest
Interest Cover
5.45x
Adequate interest coverage (5.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
23.0x
Growth-priced — P/E 23.0

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+7.3
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (23.0 → 15.6)

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Dividends

Dividend
Dividend Yield
1.59%
Small dividend — 1.59% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
—
Data not available
Payout Ratio
56%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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