ASHGY (Sunbelt Rentals Holdings) Operating Income: $2,248 Mil (TTM As of Apr. 2026)


ASHGY Sunbelt Rentals Holdings Inc ASHGY
49 GF Score
Price $72.75
! 4 Warning Signs
View Full Analysis

What is Sunbelt Rentals Holdings Operating Income?

Sunbelt Rentals Holdings ASHGY +1.17% 49 Operating Income is $2,248 Mil as of Apr. 2026. GuruFocus rates ASHGY with a GF Score™ of 49/100. The stock has 4 warning signs investors should review.

Sunbelt Rentals Holdings's Operating Income for the three months ended in Apr. 2026 was $410 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was $2,248 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Sunbelt Rentals Holdings's Operating Income for the three months ended in Apr. 2026 was $410 Mil. Sunbelt Rentals Holdings's Revenue for the three months ended in Apr. 2026 was $2,754 Mil. Therefore, Sunbelt Rentals Holdings's Operating Margin % for the quarter that ended in Apr. 2026 was 14.89%.

Warning Sign:

Sunbelt Rentals Holdings Inc operating margin has been in a 5-year decline. The average rate of decline per year is -2.5%.

Sunbelt Rentals Holdings's 5-Year average Growth Rate for Operating Margin % was -2.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sunbelt Rentals Holdings's annualized ROC % for the quarter that ended in Apr. 2026 was 5.34%. Sunbelt Rentals Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 9.28%.

Sunbelt Rentals Holdings  (OTCPK:ASHGY) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Sunbelt Rentals Holdings's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=1640 * ( 1 - 28.48% )/( (21891 + 22040)/ 2 )
=1172.928/21965.5
=5.34 %

where

Invested Capital(Q: Jan. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=22313 - 383 - ( 39 - max(0, 2252 - 2293+39))
=21891

Invested Capital(Q: Apr. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=22268 - 472 - ( 29 - max(0, 2476 - 2232+29))
=22040

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Sunbelt Rentals Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1648/( ( (15959 + max(1871, 0)) + (15951 + max(1731, 0)) )/ 2 )
=1648/( ( 17830 + 17682 )/ 2 )
=1648/17756
=9.28 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1683 + 159 + 412) - (383 + 0 + 0)
=1871

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1669 + 180 + 354) - (472 + 0 + 0)
=1731

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Sunbelt Rentals Holdings's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=410/2754
=14.89 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Sunbelt Rentals Holdings Operating Income Related Terms

Sunbelt Rentals Holdings Operating Income Historical Data

* Premium members only.

The historical data trend for Sunbelt Rentals Holdings's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Sunbelt Rentals Holdings Operating Income Chart

Sunbelt Rentals Holdings Annual Data
Trend Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25 Apr26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,947.80 2,522.00 2,654.00 2,557.20 2,181.00

Sunbelt Rentals Holdings Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 574.20 641.80 704.40 492.00 410.00
ASHGY
49GF Score
Sunbelt Rentals Holdings Inc ASHGY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sunbelt Rentals Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,248 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $2,248 Mil mean?
Sunbelt Rentals Holdings (ASHGY) has a Operating Income of $2,248 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sunbelt Rentals Holdings and its competitors.
Is Sunbelt Rentals Holdings' Operating Income too high?
Sunbelt Rentals Holdings' current Operating Income is $2,248 Mil. Overall, Sunbelt Rentals Holdings has a GF Score™ of 49/100, reflecting its overall financial health beyond just this single metric.
How does Sunbelt Rentals Holdings' Operating Income compare to AER and UHAL?
Sunbelt Rentals Holdings' Operating Income of $2,248 Mil can be compared against companies in the Business Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Business Services company?
A good Operating Income depends on the Business Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Sunbelt Rentals Holdings and its competitors. Sunbelt Rentals Holdings's current Operating Income is $2,248 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sunbelt Rentals Holdings stock overvalued right now?
Sunbelt Rentals Holdings (ASHGY) has a current Operating Income of $2,248 Mil. The current Operating Income is $2,248 Mil. Sunbelt Rentals Holdings' overall GF Score™ is 49/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Sunbelt Rentals Holdings (ASHGY), the current Operating Income is $2,248 Mil as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Sunbelt Rentals Holdings Business Description

Address 100 Cheapside, London, GBR, EC2V 6DT
Sunbelt Rentals (formerly UK-based Ashtead Group) is the number two equipment rental company in the US (11% market share), with a smaller presence in Canada and the UK. Sunbelt operates a rental fleet of just over $15 billion across a network of 1,200 stores in the US, nearly CAD 2 billion of fleet and 135 stores in Canada, and GBP 1.1 billion and 190 stores in the UK. The company has experienced rapid growth over the past decade as its customers increasingly turn to rental versus owning equipment outright. The general tool business has been augmented by the Specialty Rental business, which has grown to 30% of the mix. Revenue is now greater than 50% nonconstruction, with the remainder focused more directly on commercial construction.
49GF Score

Get the complete analysis for ASHGY

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$72.75
Price