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Ashtead Group Plc (AHT.LN)

Ashtead Group Plc (AHT.LN)
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Ashtead Group is a UK-based equipment rental company founded in 1984 and conducting its activities primarily in the US under the brand Sunbelt Rentals (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.

Fiscal Year End Date: 04/30

(Values in U.S. Thousands) Jul, 2025 Jan, 2025 Oct, 2024 Jul, 2024 Jan, 2024
Sales 2,962,300 2,800,900 2,529,300 2,567,900 2,940,800
Sales Growth +5.76% +10.74% -1.50% -12.68% +6.79%
Net Income 425,100 375,500 311,300 309,700 486,000
Net Income Growth +13.21% +20.62% +0.52% -36.28% +20.45%
(Values in U.S. Thousands) Jul, 2025 Jan, 2025 Oct, 2024 Jul, 2024 Jan, 2024
Total Assets 22,063,800 21,810,900 21,691,700 21,932,600 22,309,200
Total Assets Growth +1.16% +0.55% -1.10% -1.69% +0.69%
Total Liabilities 14,647,300 14,122,900 14,023,600 14,272,800 14,811,400
Total Liabilities Growth +3.71% +0.71% -1.75% -3.64% +0.33%
(Values in U.S. Thousands) Jul, 2025 Jan, 2025 Oct, 2024 Jul, 2024 Jan, 2024
Operating Cash Flow 653,900 597,500 982,700 495,300 408,000
Operating Cash Flow Growth +9.44% -39.20% +98.41% +21.40% +41.72%
Net Cash Flow 16,800 1,900 -5,800 2,700 6,900
Change in Net Cash Flow +784.21% +132.76% -314.81% -60.87% +272.50%
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