SUNB on NYSE

Sunbelt Rentals

Logo: sunbeltrentals.com⁵

British industrial equipment rental company

Sunbelt Rentals Holdings, Inc. is an American-British industrial equipment rental company based in London, England and South Carolina, United States.³ From Wikipedia, CC BY-SA 4.0

$75.59 down 0.02 (0.03%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 16, 2026.

Overview

$2.5BRevenue, fiscal 2026⁶

$1.3BNet income, fiscal 2026⁶

1947Founded¹

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TickerSUNB on NYSE¹
Industryequipment rental¹
HeadquartersFort Mill¹
Websitewww.sunbeltrentals.com
Listed onLondon Stock Exchange (SUNB), New York Stock Exchange (SUNB)¹
Incorporated inDE⁷
Business address1799 Innovation Point, Fort Mill, Sc 29715⁷
Filer categoryNon-accelerated filer⁷

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Sunbelt Rentals Holdings, Inc. is an American-British industrial equipment rental company based in London, England and South Carolina, United States. Domiciled in Delaware, it was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index until it transferred its listing to the US in February 2026.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

171.0%Gross margin⁶

86.9%Operating margin⁶

52.8%Net margin⁶

4.4%Revenue growth, 2026⁶

17.9%Return on equity⁶

0.95×Debt to equity⁶

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Equipment Rentals brought in 71% of the revenue Sunbelt Rentals broke down this way in fiscal 2026.

Equipment Rentals$8.3B⁶71%up 3% from 2025
Other Rental Revenue, Delivery And Pick Up$875.0M⁶8%up 2% from 2025
Other Rental Revenue, Other$800.0M⁶7%up 9% from 2025
Rental Equipment$451.0M⁶4%down 3% from 2025
Rental Equipment Sales$451.0M⁶4%down 3% from 2025
New Equipment, Merchandise And Consumables$383.0M⁶3%up 11% from 2025
Sales Of New Equipment, Merchandise, And Consumables$383.0M⁶3%up 11% from 2025

Products and services by year

Products and services	2024	2025	2026
Equipment Rentals	$7.7B	$8.0B	$8.3B
Other Rental Revenue, Delivery And Pick Up	$802.0M	$862.0M	$875.0M
Other Rental Revenue, Other	$767.0M	$731.0M	$800.0M
Rental Equipment	$859.0M	$467.0M	$451.0M
Rental Equipment Sales	$859.0M	$467.0M	$451.0M
New Equipment, Merchandise And Consumables	$370.0M	$344.0M	$383.0M
Sales Of New Equipment, Merchandise, And Consumables	$370.0M	$344.0M	$383.0M

Business segments

North America General Tool brought in 58% of the revenue Sunbelt Rentals broke down this way in fiscal 2026.

North America General Tool$6.5B⁶58%up 2% from 2025
North America Specialty$3.7B⁶33%up 7% from 2025
UK$932.0M⁶8%up 3% from 2025

Business segments by year

Business segments	2024	2025	2026
North America General Tool	$6.7B	$6.4B	$6.5B
North America Specialty	$3.2B	$3.5B	$3.7B
UK	$888.0M	$907.0M	$932.0M

Regions

United States brought in 85% of the revenue Sunbelt Rentals broke down this way in fiscal 2026.

United States$9.5B⁶85%up 3% from 2025
United Kingdom$932.0M⁶8%up 3% from 2025
Canada$744.0M⁶7%up 9% from 2025

Regions by year

Regions	2024	2025	2026
United States	$9.3B	$9.2B	$9.5B
United Kingdom	$888.0M	$907.0M	$932.0M
Canada	$664.0M	$680.0M	$744.0M

Where the money goes

Where each dollar of revenue went, fiscal 2026

Cost of revenueSelling, general and adminProfit

Cost of revenue67¢$6.9B
Selling, general and admin16¢$1.7B
Income tax5¢$476.0M
Profit13¢$1.3B

Out of $2.5B in revenue.⁶

Where each dollar of operating cash went, fiscal 2026

Dividends paidShare buybacksKept or used elsewhere

Dividends paid12¢$464.0M
Share buybacks37¢$1.4B
Kept or used elsewhere50¢$1.9B

Out of $3.8B of cash from operations.⁶

Financial statements

Revenue⁶$2.5B in 2026−10% since 2024

Gross profit⁶$4.3B in 2026−4% since 2024

Operating income⁶$2.2B in 2026−13% since 2024

Net income⁶$1.3B in 2026−16% since 2024

Every line of the income statement in the latest annual report, as filed.⁶

Period ending	2026-04-30	2025-04-30	2024-04-30
Total revenues	$11.2B	$10.8B	$10.9B
Cost of equipment rentals, excluding depreciation	$4.4B	$4.1B	$3.9B
Depreciation of rental equipment	$1.9B	$1.8B	$1.7B
Total cost of revenues	$6.9B	$6.5B	$6.4B
Gross profit	$4.3B	$4.3B	$4.5B
Selling, general and administrative expense	$1.7B	$1.4B	$1.6B
Non-rental depreciation and amortization	$458.0M	$436.0M	$394.0M
Operating income	$2.2B	$2.5B	$2.5B
Interest expense, net	$387.0M	$425.0M	$428.0M
Other (income) expense, net	-$7.0M	$4.0M	-$11.0M
Income before provision for income taxes	$1.8B	$2.1B	$2.1B
Provision for income taxes	$476.0M	$517.0M	$522.0M
Net income	$1.3B	$1.6B	$1.6B
Basic earnings per share (in dollars per share)	$3.15	$3.56	$3.60
Diluted earnings per share (in dollars per share)	$3.15	$3.55	$3.58

Total assets⁶$22.3B in 2026+1% since 2025

Total liabilities⁶$14.9B in 2026+5% since 2025

Shareholders’ equity⁶$7.4B in 2026+23% since 2023

Cash⁶$29.0M in 2026−3% since 2023

Long-term debt⁶$7.0B in 2026−6% since 2025

Every line of the balance sheet in the latest annual report, as filed.⁶

Period ending	2026-04-30	2025-04-30	2024-04-30
Cash and cash equivalents	$29.0M	$21.0M
Accounts receivable, net of allowance for credit losses of $105 and $102, respectively	$1.7B	$1.5B
Inventory	$180.0M	$147.0M
Prepaid expenses and other assets	$354.0M	$372.0M
Total current assets	$2.2B	$2.0B
Goodwill	$3.5B	$3.3B	$3.3B
Other intangible assets, net	$338.0M	$433.0M
Operating lease right-of-use assets	$2.7B	$2.5B
Other long-term assets	$271.0M	$267.0M
Total non-current assets	$20.0B	$19.9B
Total assets	$22.3B	$22.0B
Short-term debt and current maturities of long-term debt	$550.0M	$0
Accounts payable	$472.0M	$302.0M
Accrued expenses and other liabilities	$1.2B	$991.0M
Operating lease liabilities	$287.0M	$266.0M
Total current liabilities	$2.5B	$1.6B
Long-term debt	$7.0B	$7.5B
Deferred taxes	$2.4B	$2.3B
Non-current portion of operating lease liabilities	$2.6B	$2.4B
Other long-term liabilities	$379.0M	$390.0M
Total non-current liabilities	$12.4B	$12.6B
Total liabilities	$14.9B	$14.2B
Common stock	$4.0M	$82.0M
Additional paid-in capital	$204.0M	$46.0M
Retained earnings	$7.6B	$9.1B
Treasury stock at cost 3,693,501 and 20,111,957 shares as of April 30, 2026 and April 30, 2025, respectively	-$259.0M	-$1.2B
Common stock held by the ESOT 0 and 534,660 shares as of April 30, 2026 and April 30, 2025, respectively	$0	-$35.0M
Accumulated other comprehensive loss	-$186.0M	-$226.0M
Total stockholders equity	$7.4B	$7.8B	$7.1B
Total liabilities and stockholders equity	$22.3B	$22.0B
Accounts receivable, net of allowance	$105.0M	$102.0M
Common stock, par value (in pound and dollars per share)	0.10 GBP	0.10 GBP
Common stock, shares authorized (in shares)	414.0M shares	451.4M shares
Common stock, shares issued (in shares)	414.0M shares	451.4M shares
Common stock, shares outstanding (in shares)	410.3M shares	430.7M shares
Treasury stock at cost (in shares)	3.7M shares	20.1M shares
Common stock held by the ESOT (in shares)	0 shares	534.7K shares

Cash from operations⁶$3.8B in 2026+3% since 2024

Dividends paid⁶$464.0M in 2026+6% since 2024

Share buybacks⁶$1.4B in 2026+1712% since 2024

Every line of the cash flow in the latest annual report, as filed.⁶

Period ending	2026-04-30	2025-04-30	2024-04-30
Net income	$1.3B	$1.6B	$1.6B
Depreciation and amortization	$2.3B	$2.3B	$2.0B
Deferred tax expense	$93.0M	$42.0M	$236.0M
Non-cash operating lease expense	$310.0M	$288.0M	$262.0M
Stock based compensation expense	$80.0M	-$9.0M	$92.0M
Provision for receivable allowances	$64.0M	$28.0M	$84.0M
Other	$14.0M	$33.0M	$10.0M
(Increase) decrease in accounts receivable	-$206.0M	$22.0M	-$184.0M
(Increase) decrease in inventory	-$30.0M	$15.0M	$21.0M
Decrease (increase) in prepaid expenses and other assets	$15.0M	-$74.0M	-$89.0M
Increase (decrease) in accounts payable	$57.0M	$2.0M	-$24.0M
Decrease in operating lease liabilities	-$287.0M	-$268.0M	-$243.0M
Increase in accrued expenses and other liabilities	$111.0M	$59.0M	$120.0M
Net cash provided by operating activities	$3.8B	$3.8B	$3.7B
Payments for acquisition of businesses, net of cash acquired	-$206.0M	-$134.0M	-$846.0M
Proceeds from disposal of business	$16.0M	$0	$0
Payments for purchases of intangibles	-$6.0M	-$15.0M	-$29.0M
Other			-$15.0M
Net cash used in investing activities	-$1.9B	-$2.3B	-$4.4B
Proceeds from debt	$1.5B	$1.3B	$3.6B
Payments of debt	-$1.5B	-$1.8B	-$2.3B
Repayments of principal under finance lease liabilities	-$18.0M	-$18.0M	-$12.0M
Payment of contingent consideration	$0	-$13.0M	-$30.0M
Dividends paid	-$464.0M	-$544.0M	-$436.0M
Common stock repurchased by the ESOT	-$19.0M	-$86.0M	-$30.0M
Common stock sold by the ESOT	$24.0M	$0	$0
Common stock repurchased	-$1.4B	-$342.0M	-$78.0M
Net cash (used in) provided by financing activities	-$1.9B	-$1.5B	$755.0M
Effect of exchange rate changes on cash and cash equivalents	$0	$0	$0
Net increase (decrease) in cash and cash equivalents	$8.0M	$0	-$9.0M
Cash paid for interest	$368.0M	$416.0M	$392.0M
Cash paid for income taxes, net	$332.0M	$425.0M	$246.0M

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The story

The company was founded in 1947, in the village of Ashtead, Surrey, as Ashtead Plant and Tool Hire. It was first listed on the London Stock Exchange in 1986 and acquired an American plant hire business, Sunbelt Rentals, in 1990.

In September 2018, the company appointed Paul Walker as non-executive chairman of its board.

In November 2018, it was announced that Geoff Drabble would retire as CEO after twelve years on 1 May 2019, and would be succeeded by Brendan Horgan, the Group Chief Operations Officer and chief executive of the company's North American business.

In June 2022, the company's main operating subsidiary, was announced as an investor in lithium-ion battery developer Britishvolt. After Britishvolt went into administration in January 2023, the company took a £35m hit from its collapse.

In December 2024, the company announced plans to move its primary stock market listing from London to the US. It said the US was a "natural long term listing venue" because most of the group's profit came from North America, and its leadership, most of its 25,000 employees and its operational headquarters were all in the US. Following approval from shareholders, the court approved the creation of a new US holding company, Sunbelt Rentals Inc, in February 2026.

From Wikipedia’s article on Sunbelt Rentals, shared under CC BY-SA 4.0.⁸

Leadership

Who has led Sunbelt Rentals, and when. Pick a name to see everywhere that person has worked.

Chief executive

Brendan Horgan2019–now

Chair

Paul Walker2018–now

197019801990200020102020

Chief executive officerBrendan Horgan May 2019 to now¹
ChairPaul Walker Sep 2018 to now¹

Products and brands

The company operates internationally, servicing customers in Canada, the United States and the United Kingdom. Approximately 85% of its revenue is generated in the United States through the subsidiary Sunbelt Rentals, currently present in over 1,000 locations across the United States and Canada.

The company's non-executive directors are Paul Walker, Angus Cockburn, Jill Easterbrook, Tanya Fratto, Reneta Ribeiro, Lucinda Riches and Lindsley Ruth.

British operations

Sunbelt Rentals, formerly known as A-Plant, is present in over 185 locations throughout the United Kingdom, and has the following divisions: