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Sunbelt Rentals Holdings, Inc.

SUNB

Filing: SEC 10-Q
Period: Quarter ended 2026-01-31
Basis: Editorial filing; Read original SEC 10-Q ↗

Sankey diagram of Sunbelt Rentals Holdings, Inc.. A complete text table follows the diagram.

Sunbelt Gets Paid Twice for the Same Equipment

A $19.2B rental fleet earns recurring revenue across general and specialty categories, then generates another cash stream when the used machines are sold.

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Source & review

Read original SEC 10-Q ↗

SEC accession: 0001628280-26-017215
Filed: Date not recorded
Reviewed: 2026-07-26
Status: Individual filing review complete

How to read these figures

The Sankey combines reported segment rental revenue with reported equipment and merchandise sales to show Sunbelt's asset-life-cycle model. Adjusted EBITDA is non-GAAP; the operating-burden node is an explicit arithmetic residual.

Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.

Sunbelt's fleet carried $19.15B of original equipment cost, creating a vast installed base of rentable assets.
Specialty equipment generated 74 cents of annualized rental revenue per fleet dollar, versus 47 cents for general tools.
After years of rental income, fleet disposals produced another $105M of quarterly revenue at a $22M gross spread over carrying cost.
Nine-month fleet capital expenditure fell 16% to $1.84B while free cash flow rose 83% to $1.43B.

View accessible tables

Financial categories · Quarter ended 2026-01-31 · Millions of USD
Category	Stage	Value	Notes
North America general tool	1	$1.4B	47% dollar utilization
North America specialty	1	$851M	74% dollar utilization
United Kingdom	1	$182M	52% dollar utilization
Equipment rental revenue	2	$2.4B	93% of quarterly revenue
Used rental-equipment sales	2	$105M	Second return from aging fleet
New equipment and merchandise	2	$89M	Consumables and ancillary sales
Total fleet ecosystem revenue	3	$2.6B	Rental plus equipment sales
Operating and fleet burden	4	$1.6B	Before adjusted EBITDA
Adjusted EBITDA	4	$1.1B	41% margin

Financial flows · Millions of USD
From	To	Value
North America general tool	Equipment rental revenue	$1.4B
North America specialty	Equipment rental revenue	$851M
United Kingdom	Equipment rental revenue	$182M
Equipment rental revenue	Total fleet ecosystem revenue	$2.4B
Used rental-equipment sales	Total fleet ecosystem revenue	$105M
New equipment and merchandise	Total fleet ecosystem revenue	$89M
Total fleet ecosystem revenue	Operating and fleet burden	$1.6B
Total fleet ecosystem revenue	Adjusted EBITDA	$1.1B