EquipmentShare.com Inc
EquipmentShare.com Inc is a U.S.-based equipment rental and construction technology company built around a network of full-service branches, dealership sites, and retail stores. Its business combines rental equipment, equipment sales, parts and maintenance services, and a telematics software platform used to manage fleets and jobsites.
Fiscal year 2025 · change from previous year
Development 2023–2025
Business
Share of revenueDaily, weekly, and monthly rental of construction and industrial equipment, including OWN Program and leased fleet.
Sales of new and used equipment through branches, dealerships, wholesalers, brokered sales, and auctions.
Sales of parts and supplies plus maintenance, repair, and warranty services for customers and OWN Program participants.
Telematics subscriptions, tracker devices, access control hardware, and related software-enabled services.
Products
Reported · share of revenue- Equipment Sales75.2 %
- Equipment Services8.5 %
- Delivery and Pick Up4.0 %
- Platform Revenue Telematics3.2 %
- Platform Revenue Other3.1 %
- Other6.1 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company serves construction contractors, regional customers, and national customers that need equipment, fleet visibility, and jobsite support. It also sells equipment to OWN Program participants, wholesalers, and other third parties, while parts and service offerings support both rental customers and owners of equipment in the network.
Rent equipment, buy parts and supplies, and use maintenance services to keep jobsites operating.
Use the rental network and T3 platform for larger, recurring equipment and fleet management needs.
Buy equipment from the company and lease it back so it can be rented to end customers.
Purchase new or used equipment through retail, brokered, wholesale, or auction channels.
Subscribe to T3 and buy connected devices for owned fleets and access control use cases.
Strategy
The company’s strategy is to expand its branch footprint, grow fleet under management, and deepen use of its T3 platform across rentals and owned fleets. It also uses the OWN Program to scale equipment availability while keeping customers connected to the platform and the rental network.
More locations improve local coverage, customer access, and equipment availability.
A larger managed fleet supports more rental volume and broader customer coverage.
Telematics and software increase customer stickiness and differentiate the rental offering.
Geography
The business is centered in the United States, where it operated across 45 states with a nationwide branch and retail footprint. Its growth depends on adding branches and fleet capacity in markets with construction demand, so geography directly affects utilization, startup costs, and customer reach.
Risks
The business is exposed to construction demand cycles, equipment utilization swings, and the capital intensity of maintaining a large rental fleet. It also faces execution risk from rapid branch expansion, dependence on the OWN Program structure, and accounting complexity around gross versus net revenue presentation and fleet-related estimates.
Rental demand depends on contractor activity, job starts, and project timing.
Exposure: U.S. construction end markets
New locations require staffing, fleet placement, and local customer development before they mature.
Exposure: New market startup costs and branch ramp-up
The company owns, leases, and resells equipment, so utilization and resale values affect performance.
Exposure: Rental fleet and used equipment sales
The model relies on third-party owners participating in leasing arrangements and allowing equipment to remain on the platform.
Exposure: OWN Program participants
Some transactions are recorded gross and others net depending on principal-agent assessment and control.
Accounting
Judgemental itemsEquipment sales and OWN Program transactions may be recorded differently depending on control and agency conclusions.
Impact: Affects reported revenue, cost of revenue, and margin presentation
Large fleet assets require useful-life and residual value estimates.
Impact: Affects operating profit and asset carrying values
The company leases equipment from OWN Program participants and other lessors.
Impact: Affects lease liabilities, rental expense, and fleet economics
Part of rental consideration is allocated to telematics services and SaaS access.
Impact: Affects timing and mix of recognized revenue
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Last updated: 24/09/2026