H&E Equipment Services (HEES) Financials

$90.37 -0.35 (-0.38%)

Closing price 03:59 PM Eastern

Extended Trading

$90.11 -0.27 (-0.29%)

As of 04:03 PM Eastern

Annual Income Statements for H&E Equipment Services

This table shows H&E Equipment Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	44	37	110	77	87	-33	103	132	169	123
Consolidated Net Income / (Loss)	44	37	110	77	87	-33	103	132	169	123
Net Income / (Loss) Continuing Operations	44	37	110	77	87	-46	61	134	169	123
Total Pre-Tax Income	76	59	59	105	116	-60	82	181	223	163
Total Operating Income	128	111	138	167	180	43	132	228	277	229
Total Gross Profit	346	336	360	439	499	357	415	555	684	675
Total Revenue	1,040	978	1,030	1,239	1,348	1,007	1,063	1,245	1,469	1,517
Operating Revenue	1,040	978	1,030	1,239	1,348	1,007	1,063	1,245	1,469	1,517
Total Cost of Revenue	694	643	670	800	849	650	647	689	785	841
Operating Cost of Revenue	694	643	670	800	849	650	647	689	785	841
Total Operating Expenses	217	225	222	272	319	314	283	327	408	446
Selling, General & Admin Expense	220	228	233	278	311	266	291	344	405	456
Impairment Charge	-	-	-	0.00	12	56	0.00	0.00	5.71	0.00
Other Special Charges / (Income)	-2.74	-3.29	-5.01	-7.12	-4.62	-8.41	-7.75	-17	-3.39	-9.67
Total Other Income / (Expense), net	-53	-52	-79	-62	-64	-103	-51	-47	-54	-67
Interest Expense	54	54	80	64	68	106	54	54	61	73
Other Income / (Expense), net	1.46	1.87	1.75	1.72	3.98	3.18	3.16	6.61	7.38	6.19
Income Tax Expense	31	22	-50	28	29	-13	21	47	54	40
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	14	42	-1.52	0.00	0.00
Basic Earnings per Share	$1.26	$1.05	$3.09	$2.15	$2.43	($0.91)	$2.83	$3.68	$4.69	$3.39
Weighted Average Basic Shares Outstanding	35.27M	35.39M	35.52M	35.68M	35.86M	36.07M	36.26M	35.94M	36.10M	36.27M
Diluted Earnings per Share	$1.25	$1.05	$3.07	$2.13	$2.42	($0.91)	$2.81	$3.66	$4.66	$3.37
Weighted Average Diluted Shares Outstanding	35.34M	35.48M	35.70M	35.90M	36.03M	36.07M	36.45M	36.09M	36.33M	36.51M
Weighted Average Basic & Diluted Shares Outstanding	35.20M	35.40M	35.50M	35.75M	35.87M	36.11M	-	36.32M	36.46M	36.61M
Cash Dividends to Common per Share	$1.05	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10

This table shows H&E Equipment Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	38	51	26	41	49	54	26	33	31	33	-6.21
Consolidated Net Income / (Loss)	38	51	26	41	49	54	26	33	31	33	-6.21
Net Income / (Loss) Continuing Operations	38	51	26	41	49	54	26	33	31	33	-6.21
Total Pre-Tax Income	51	69	35	56	66	66	35	46	43	38	-8.17
Total Operating Income	64	79	47	70	79	81	52	63	61	54	5.85
Total Gross Profit	152	159	141	168	188	186	165	171	171	168	124
Total Revenue	324	353	322	360	401	386	371	376	385	384	319
Operating Revenue	324	353	322	360	401	386	371	376	385	384	319
Total Cost of Revenue	172	194	181	192	212	199	206	205	213	216	196
Operating Cost of Revenue	172	194	181	192	212	199	206	205	213	216	196
Total Operating Expenses	88	81	95	99	109	105	113	108	111	114	118
Selling, General & Admin Expense	88	94	95	99	104	107	114	112	112	117	112
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	-	-	9.79
Other Special Charges / (Income)	-0.53	-	-0.67	-0.44	-0.76	-1.52	-1.43	-3.35	-1.66	-3.22	-3.62
Total Other Income / (Expense), net	-13	-9.59	-12	-14	-13	-15	-17	-17	-17	-16	-14
Interest Expense	14	14	14	15	16	16	18	18	19	18	16
Other Income / (Expense), net	0.88	3.95	1.72	1.06	3.07	1.53	1.55	1.48	1.45	1.71	1.98
Income Tax Expense	13	18	9.06	15	17	13	9.32	13	12	5.17	-1.97
Basic Earnings per Share	$1.05	$1.46	$0.71	$1.14	$1.35	$1.49	$0.72	$0.92	$0.86	$0.89	($0.17)
Weighted Average Basic Shares Outstanding	36.46M	35.94M	36.03M	36.08M	36.13M	36.10M	36.20M	36.25M	36.30M	36.27M	36.36M
Diluted Earnings per Share	$1.05	$1.44	$0.71	$1.14	$1.35	$1.46	$0.71	$0.91	$0.85	$0.90	($0.17)
Weighted Average Diluted Shares Outstanding	36.55M	36.09M	36.35M	36.30M	36.32M	36.33M	36.56M	36.47M	36.46M	36.51M	36.36M
Weighted Average Basic & Diluted Shares Outstanding	36.31M	36.32M	36.38M	36.38M	36.45M	36.46M	36.53M	36.52M	36.61M	36.61M	36.67M
Cash Dividends to Common per Share	$0.28	-	$0.28	$0.28	$0.28	-	$0.28	$0.28	$0.28	-	$0.28

This table details how cash moves in and out of H&E Equipment Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-8.70	0.52	158	-149	-2.43	297	46	-276	-73	7.91
Net Cash From Operating Activities	207	177	226	247	319	286	260	313	405	496
Net Cash From Continuing Operating Activities	207	177	226	247	319	286	260	313	405	496
Net Income / (Loss) Continuing Operations	44	37	110	77	87	-33	103	132	169	123
Consolidated Net Income / (Loss)	44	37	110	77	87	-33	103	132	169	123
Depreciation Expense	186	190	193	233	272	263	259	296	382	423
Amortization Expense	1.20	0.88	1.32	4.88	5.78	5.66	6.24	6.91	9.23	13
Non-Cash Adjustments To Reconcile Net Income	-31	39	-13	-37	-15	54	-70	-54	-60	-57
Changes in Operating Assets and Liabilities, net	6.13	-90	-65	-31	-31	-3.72	-38	-68	-94	-6.59
Net Cash From Investing Activities	-102	-114	-153	-526	-326	21	-171	-547	-609	-459
Net Cash From Continuing Investing Activities	-102	-114	-153	-526	-326	21	-307	-547	-609	-459
Purchase of Property, Plant & Equipment	-27	-23	-23	-35	-43	-19	-35	-51	-84	-107
Acquisitions	-	-	-	-196	-107	0.00	0.00	-136	-31	-158
Sale of Property, Plant & Equipment	4.29	3.81	7.51	9.26	6.05	15	12	24	4.45	11
Other Investing Activities, net	-79	-95	-138	-305	-182	25	-284	-383	-498	-206
Net Cash From Financing Activities	-114	-62	85	130	4.26	-10	-42	-43	130	-29
Net Cash From Continuing Financing Activities	-114	-62	85	130	4.26	-10	-42	-43	130	-29
Repayment of Debt	-1,059	-989	-2,027	-1,266	-1,412	-2,913	-0.14	-1,278	-1,613	18
Repurchase of Common Equity	-0.47	-0.56	-0.78	-1.35	-1.68	-1.41	-2.11	-1.67	-6.05	-5.78
Payment of Dividends	-37	-39	-39	-39	-39	-40	-40	-40	-40	-40
Issuance of Debt	983	966	2,152	1,437	1,458	2,944	0.00	1,278	1,790	0.00
Other Financing Activities, net	-	-	-	0.00	-0.23	-0.25	-0.19	-1.14	-0.16	-0.32
Cash Interest Paid	53	52	50	62	67	77	52	52	57	71
Cash Income Taxes Paid	-1.59	0.18	0.48	2.37	1.00	-0.22	4.81	5.89	5.81	11

This table details how cash moves in and out of H&E Equipment Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-58	-139	8.62	-43	-40	1.58	0.58	-0.47	2.47	5.33	-6.09
Net Cash From Operating Activities	107	102	43	92	142	129	83	133	150	129	98
Net Cash From Continuing Operating Activities	107	102	43	92	142	129	83	133	150	129	98
Net Income / (Loss) Continuing Operations	38	51	26	41	49	54	26	33	31	33	-6.21
Consolidated Net Income / (Loss)	38	51	26	41	49	54	26	33	31	33	-6.21
Depreciation Expense	73	87	90	94	99	98	102	104	108	110	108
Amortization Expense	1.57	2.26	2.33	2.37	2.40	2.14	3.22	3.33	3.37	3.37	3.37
Non-Cash Adjustments To Reconcile Net Income	-9.60	-38	-10	-15	-17	-18	-22	-15	-9.09	-11	-8.67
Changes in Operating Assets and Liabilities, net	3.71	-0.39	-64	-31	7.77	-6.44	-26	7.83	17	-5.00	1.24
Net Cash From Investing Activities	-154	-230	-56	-212	-183	-157	-142	-156	-124	-37	-3.58
Net Cash From Continuing Investing Activities	-154	-230	-56	-212	-183	-157	-142	-156	-124	-37	-3.58
Purchase of Property, Plant & Equipment	-12	-15	-12	-21	-22	-28	-39	-38	-17	-13	-17
Acquisitions	-	-	0.00	-	-	-31	-122	-36	-0.12	-	0.00
Sale of Property, Plant & Equipment	0.77	20	0.85	0.63	1.02	1.96	1.67	3.86	1.96	3.81	2.56
Other Investing Activities, net	-143	-99	-45	-192	-162	-99	17	-86	-109	-28	10
Net Cash From Financing Activities	-11	-11	22	78	1.55	29	60	23	-24	-87	-100
Net Cash From Continuing Financing Activities	-11	-11	22	78	1.55	29	60	23	-24	-87	-100
Repayment of Debt	-323	-382	-373	-380	-442	-418	-515	-404	-417	1,353	-376
Repurchase of Common Equity	-1.29	-0.04	-3.23	-	-2.83	-	-3.39	-	-2.39	-	-5.32
Payment of Dividends	-9.99	-9.99	-9.99	-10	-10	-10	-10	-10	-10	-10	-10
Issuance of Debt	323	382	408	468	456	458	588	436	406	-1,430	291
Other Financing Activities, net	-0.01	-1.11	-0.03	-0.03	-0.05	-0.06	-0.06	-0.07	-0.09	-0.09	-0.10
Cash Interest Paid	-3.70	25	0.77	26	2.65	27	4.36	31	5.98	29	3.73
Cash Income Taxes Paid	0.66	3.34	0.41	3.47	0.94	1.00	-0.21	9.49	1.52	0.55	11

This table presents H&E Equipment Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,300	1,242	1,468	1,727	1,975	1,980	2,080	2,292	2,640	2,796
Total Current Assets	261	209	426	333	302	514	611	436	375	289
Cash & Equivalents	7.16	7.68	166	17	14	311	357	81	8.50	16
Accounts Receivable	147	140	176	202	192	151	157	225	247	249
Inventories, net	97	54	75	105	85	42	75	108	110	13
Prepaid Expenses	10	7.51	9.17	11	10	10	21	21	8.74	11
Plant, Property, & Equipment, net	111	105	102	115	131	109	112	135	184	243
Total Noncurrent Assets	927	927	940	1,279	1,542	1,358	1,357	1,721	2,082	2,264
Noncurrent Note & Lease Receivables	-	-	-	-	0.37	0.20	0.00	1.55	2.89	3.75
Goodwill	31	31	31	106	131	63	63	103	108	135
Intangible Assets	-	-	-	28	33	29	25	33	33	63
Other Noncurrent Operating Assets	896	896	909	1,144	1,377	1,266	1,269	1,584	1,938	2,061
Total Liabilities & Shareholders' Equity	1,300	1,242	1,468	1,727	1,975	1,980	2,080	2,292	2,640	2,796
Total Liabilities	1,157	1,099	1,251	1,470	1,667	1,742	1,777	1,891	2,106	2,173
Total Current Liabilities	122	96	90	102	59	75	96	130	86	46
Accounts Payable	67	39	90	102	59	75	96	129	85	45
Dividends Payable	0.03	0.07	0.15	0.13	0.17	0.16	0.13	0.38	0.36	0.40
Total Noncurrent Liabilities	1,035	1,003	1,161	1,368	1,608	1,667	1,681	1,761	2,020	2,128
Long-Term Debt	-	-	-	-	-	-	-	0.00	182	199
Capital Lease Obligations	1.91	1.70	1.49	0.73	0.55	-	-	1.59	3.02	4.01
Noncurrent Deferred & Payable Income Tax Liabilities	156	178	126	153	180	171	201	271	318	345
Other Noncurrent Operating Liabilities	875	821	1,031	1,213	1,425	1,472	1,480	1,488	1,517	1,579
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	24	-	0.00	0.00	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	143	143	217	257	308	238	303	401	534	622
Total Preferred & Common Equity	143	143	217	257	308	238	303	401	534	622
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	143	143	217	257	308	238	303	401	534	622
Common Stock	221	224	227	232	236	241	245	252	262	274
Retained Earnings	-18	-20	51	88	136	64	127	219	348	431
Treasury Stock	-60	-61	-62	-63	-65	-66	-68	-70	-76	-82

This table presents H&E Equipment Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	2,219	2,423	2,560	2,589	2,758	2,851	2,893	2,678
Total Current Assets	562	529	504	411	373	297	300	258
Cash & Equivalents	220	90	47	6.92	9.08	8.61	11	10
Accounts Receivable	203	217	227	253	244	248	252	213
Inventories, net	117	195	196	137	101	22	22	13
Prepaid Expenses	21	27	35	13	19	18	14	22
Plant, Property, & Equipment, net	130	139	151	164	218	241	245	247
Total Noncurrent Assets	1,527	1,755	1,906	2,015	2,167	2,313	2,348	2,173
Noncurrent Note & Lease Receivables	1.59	1.51	1.68	2.98	2.81	3.68	3.88	3.63
Goodwill	63	103	103	97	126	135	135	135
Intangible Assets	22	31	29	28	67	69	66	61
Other Noncurrent Operating Assets	1,440	1,620	1,772	1,888	1,972	2,106	2,143	1,974
Total Liabilities & Shareholders' Equity	2,219	2,423	2,560	2,589	2,758	2,851	2,893	2,678
Total Liabilities	1,861	2,006	2,110	2,101	2,207	2,275	2,295	2,074
Total Current Liabilities	122	196	191	121	85	113	92	45
Accounts Payable	122	195	191	121	85	113	91	45
Dividends Payable	0.22	0.18	0.22	0.29	0.23	0.28	0.34	0.21
Total Noncurrent Liabilities	1,739	1,811	1,919	1,980	2,122	2,161	2,204	2,029
Long-Term Debt	-	40	128	142	255	287	276	114
Capital Lease Obligations	1.62	1.57	1.76	3.08	2.96	3.86	4.10	3.91
Noncurrent Deferred & Payable Income Tax Liabilities	226	278	291	307	323	333	344	335
Other Noncurrent Operating Liabilities	1,512	1,491	1,498	1,528	1,542	1,537	1,580	1,575
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	358	417	450	488	551	576	597	604
Total Preferred & Common Equity	358	417	450	488	551	576	597	604
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	358	417	450	488	551	576	597	604
Common Stock	250	255	257	260	266	268	271	276
Retained Earnings	178	235	266	305	364	387	408	415
Treasury Stock	-70	-73	-73	-76	-79	-79	-82	-87

This table displays calculated financial ratios and metrics derived from H&E Equipment Services' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.64%	-5.93%	5.30%	20.29%	8.83%	-25.32%	5.54%	17.10%	18.06%	3.22%
EBITDA Growth	1.51%	-4.46%	10.23%	21.56%	13.74%	-31.74%	26.99%	34.28%	25.50%	-0.44%
EBIT Growth	-10.57%	-13.16%	24.00%	20.55%	9.37%	-74.70%	190.76%	73.28%	21.01%	-17.10%
NOPAT Growth	-12.20%	-7.10%	265.36%	-52.13%	11.16%	-77.59%	222.69%	72.12%	24.35%	-17.33%
Net Income Growth	-19.65%	-16.10%	195.00%	-30.13%	13.82%	-137.46%	413.89%	28.90%	28.09%	-27.36%
EPS Growth	-19.87%	-16.00%	192.38%	-30.62%	13.62%	-137.60%	408.79%	30.25%	27.32%	-27.68%
Operating Cash Flow Growth	30.51%	-14.35%	27.81%	9.29%	29.13%	-10.40%	-9.25%	20.67%	29.45%	22.22%
Free Cash Flow Firm Growth	24.53%	22.59%	382.66%	-119.59%	224.34%	351.60%	-72.34%	-300.30%	13.28%	141.58%
Invested Capital Growth	14.85%	-0.37%	-61.60%	358.57%	22.00%	-116.55%	-10.55%	698.08%	120.97%	13.92%
Revenue Q/Q Growth	-42.88%	291.55%	5.14%	4.32%	0.16%	-13.51%	9.30%	6.13%	2.28%	-0.11%
EBITDA Q/Q Growth	-1.77%	-0.89%	3.54%	6.38%	0.04%	-7.58%	5.65%	12.95%	1.67%	-2.14%
EBIT Q/Q Growth	-5.61%	-3.11%	8.23%	6.68%	-4.03%	-29.80%	16.16%	20.55%	0.01%	-10.37%
NOPAT Q/Q Growth	-6.36%	4.12%	168.80%	-44.56%	-2.10%	-13.93%	12.26%	19.34%	3.60%	-10.19%
Net Income Q/Q Growth	-9.61%	1.26%	203.26%	-44.27%	-3.47%	-943.45%	194.34%	-1.44%	1.42%	-14.44%
EPS Q/Q Growth	-10.07%	1.94%	200.98%	-44.39%	-3.97%	-1,111.11%	195.79%	-0.54%	0.43%	-14.25%
Operating Cash Flow Q/Q Growth	19.58%	-9.21%	1.00%	18.95%	0.77%	-12.99%	-4.21%	16.57%	7.12%	0.09%
Free Cash Flow Firm Q/Q Growth	-18.32%	7.55%	261.92%	-155.76%	-8.88%	436.88%	-65.11%	-571.44%	37.14%	258.92%
Invested Capital Q/Q Growth	3.65%	1.98%	-61.16%	2.02%	3.49%	-119.47%	-229.60%	131.29%	13.40%	-6.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.25%	34.31%	34.94%	35.40%	37.02%	35.46%	39.08%	44.61%	46.59%	44.52%
EBITDA Margin	30.52%	31.00%	32.45%	32.79%	34.27%	31.32%	37.69%	43.22%	45.95%	44.32%
Operating Margin	12.33%	11.32%	13.39%	13.45%	13.36%	4.31%	12.45%	18.33%	18.83%	15.12%
EBIT Margin	12.47%	11.52%	13.56%	13.59%	13.66%	4.63%	12.75%	18.86%	19.34%	15.53%
Profit (Net Income) Margin	4.26%	3.80%	10.65%	6.18%	6.47%	-3.24%	9.65%	10.62%	11.52%	8.11%
Tax Burden Percent	58.55%	62.97%	184.78%	73.21%	75.27%	54.61%	125.47%	73.13%	75.85%	75.66%
Interest Burden Percent	58.34%	52.41%	42.49%	62.16%	62.92%	-128.39%	60.32%	76.98%	78.57%	69.02%
Effective Tax Rate	41.45%	37.03%	-84.78%	26.79%	24.73%	0.00%	25.89%	26.03%	24.15%	24.34%
Return on Invested Capital (ROIC)	58.43%	50.87%	269.10%	83.12%	50.70%	24.77%	0.00%	126.00%	40.65%	22.82%
ROIC Less NNEP Spread (ROIC-NNEP)	382.70%	636.20%	439.75%	133.53%	380.57%	66.75%	0.00%	142.77%	-42.89%	-4.95%
Return on Net Nonoperating Assets (RNNOA)	-26.32%	-24.82%	-208.11%	-50.77%	-19.79%	-36.74%	0.00%	-88.47%	-4.45%	-1.56%
Return on Equity (ROE)	32.11%	26.05%	61.00%	32.36%	30.91%	-11.97%	37.86%	37.53%	36.20%	21.26%
Cash Return on Invested Capital (CROIC)	44.61%	51.25%	358.12%	-45.26%	30.88%	0.00%	0.00%	-64.25%	-34.72%	9.80%
Operating Return on Assets (OROA)	9.76%	8.86%	10.31%	10.54%	9.95%	2.36%	6.67%	10.74%	11.52%	8.67%
Return on Assets (ROA)	3.33%	2.93%	8.09%	4.80%	4.71%	-1.65%	5.05%	6.05%	6.87%	4.53%
Return on Common Equity (ROCE)	32.11%	26.05%	61.00%	32.36%	30.91%	-11.97%	37.86%	37.53%	36.20%	21.26%
Return on Equity Simple (ROE_SIMPLE)	31.07%	26.04%	50.58%	29.84%	28.36%	-13.71%	33.80%	32.96%	31.69%	19.76%
Net Operating Profit after Tax (NOPAT)	75	70	255	122	136	30	98	169	210	173
NOPAT Margin	7.22%	7.13%	24.74%	9.85%	10.06%	3.02%	9.23%	13.56%	14.29%	11.44%
Net Nonoperating Expense Percent (NNEP)	-324.26%	-585.33%	-170.65%	-50.40%	-329.87%	-41.98%	1.39%	-16.77%	83.54%	27.77%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	41.92%	29.19%	21.01%
Cost of Revenue to Revenue	66.75%	65.69%	65.06%	64.60%	62.98%	64.54%	60.92%	55.39%	53.41%	55.48%
SG&A Expenses to Revenue	21.18%	23.32%	22.60%	22.46%	23.07%	26.46%	27.36%	27.63%	27.60%	30.04%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.92%	22.99%	21.55%	21.94%	23.66%	31.15%	26.63%	26.28%	27.75%	29.40%
Earnings before Interest and Taxes (EBIT)	130	113	140	168	184	47	135	235	284	236
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	317	303	334	406	462	315	401	538	675	672
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.11	4.44	5.36	2.36	3.37	4.10	4.94	3.91	3.48	2.87
Price to Tangible Book Value (P/TBV)	3.98	5.68	6.26	4.94	7.23	6.69	6.96	5.90	4.73	4.22
Price to Revenue (P/Rev)	0.43	0.65	1.13	0.49	0.77	0.97	1.41	1.26	1.27	1.18
Price to Earnings (P/E)	9.99	17.04	10.59	7.90	11.87	0.00	14.62	11.87	10.99	14.53
Dividend Yield	8.40%	6.18%	3.38%	6.49%	3.81%	4.06%	2.65%	2.55%	2.15%	2.25%
Earnings Yield	10.01%	5.87%	9.44%	12.65%	8.42%	0.00%	6.84%	8.42%	9.10%	6.88%
Enterprise Value to Invested Capital (EV/IC)	3.19	4.58	18.97	2.45	3.48	0.00	0.00	4.63	2.87	2.44
Enterprise Value to Revenue (EV/Rev)	0.42	0.64	0.97	0.48	0.76	0.66	1.07	1.20	1.39	1.30
Enterprise Value to EBITDA (EV/EBITDA)	1.38	2.07	2.98	1.45	2.21	2.11	2.85	2.77	3.02	2.94
Enterprise Value to EBIT (EV/EBIT)	3.37	5.57	7.14	3.50	5.55	14.32	8.43	6.34	7.17	8.38
Enterprise Value to NOPAT (EV/NOPAT)	5.83	8.99	3.91	4.83	7.53	21.95	11.64	8.82	9.71	11.38
Enterprise Value to Operating Cash Flow (EV/OCF)	2.12	3.55	4.41	2.39	3.20	2.33	4.40	4.75	5.02	3.98
Enterprise Value to Free Cash Flow (EV/FCFF)	7.63	8.93	2.94	0.00	12.37	1.79	11.06	0.00	0.00	26.48
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.35	0.33
Long-Term Debt to Equity	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.35	0.33
Financial Leverage	-0.07	-0.04	-0.47	-0.38	-0.05	-0.55	-1.19	-0.62	0.10	0.31
Leverage Ratio	9.63	8.91	7.54	6.75	6.56	7.25	7.50	6.21	5.27	4.70
Compound Leverage Factor	5.62	4.67	3.20	4.19	4.13	-9.30	4.52	4.78	4.14	3.24
Debt to Total Capital	1.32%	1.18%	0.68%	0.28%	0.18%	0.00%	0.00%	0.40%	25.68%	24.62%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	1.32%	1.18%	0.68%	0.28%	0.18%	0.00%	0.00%	0.40%	25.68%	24.62%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	98.68%	98.82%	99.32%	99.72%	99.82%	100.00%	100.00%	99.60%	74.32%	75.38%
Debt to EBITDA	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.27	0.30
Net Debt to EBITDA	-0.02	-0.02	-0.49	-0.04	-0.03	0.00	0.00	-0.15	0.26	0.28
Long-Term Debt to EBITDA	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.27	0.30
Debt to NOPAT	0.03	0.02	0.01	0.01	0.00	0.00	0.00	0.01	0.88	1.17
Net Debt to NOPAT	-0.07	-0.09	-0.65	-0.13	-0.10	0.00	0.00	-0.47	0.84	1.08
Long-Term Debt to NOPAT	0.03	0.02	0.01	0.01	0.00	0.00	0.00	0.01	0.88	1.17
Altman Z-Score	1.47	1.52	1.90	1.52	1.61	1.23	1.61	1.67	1.76	1.63
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.14	2.17	4.74	3.27	5.12	6.81	6.38	3.36	4.36	6.35
Quick Ratio	1.26	1.53	3.80	2.14	3.50	6.12	5.37	2.36	2.98	5.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	57	70	339	-66	83	373	103	-207	-179	75
Operating Cash Flow to CapEx	917.98%	927.08%	1,507.09%	961.95%	861.33%	6,908.60%	1,141.58%	1,125.70%	510.54%	519.97%
Free Cash Flow to Firm to Interest Expense	1.06	1.31	4.22	-1.04	1.21	3.51	1.92	-3.83	-2.94	1.02
Operating Cash Flow to Interest Expense	3.82	3.30	2.82	3.88	4.68	2.69	4.83	5.80	6.66	6.79
Operating Cash Flow Less CapEx to Interest Expense	3.41	2.95	2.63	3.48	4.13	2.65	4.41	5.28	5.35	5.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.77	0.76	0.78	0.73	0.51	0.52	0.57	0.60	0.56
Accounts Receivable Turnover	6.67	6.81	6.52	6.56	6.85	5.88	6.91	6.51	6.22	6.11
Inventory Turnover	6.01	8.53	10.40	8.91	8.94	10.21	11.05	7.53	7.21	13.69
Fixed Asset Turnover	9.42	9.05	9.94	11.42	10.98	8.41	9.61	10.08	9.23	7.11
Accounts Payable Turnover	11.56	12.10	10.37	8.35	10.57	9.69	7.58	6.13	7.30	12.88
Days Sales Outstanding (DSO)	54.70	53.62	56.01	55.63	53.30	62.11	52.84	56.09	58.72	59.70
Days Inventory Outstanding (DIO)	60.69	42.81	35.11	40.95	40.85	35.77	33.03	48.48	50.64	26.66
Days Payable Outstanding (DPO)	31.58	30.17	35.19	43.69	34.53	37.66	48.16	59.59	49.99	28.34
Cash Conversion Cycle (CCC)	83.80	66.26	55.93	52.89	59.61	60.22	37.71	44.99	59.37	58.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	137	137	53	241	294	-49	-54	322	711	810
Invested Capital Turnover	8.09	7.13	10.88	8.44	5.04	8.21	-20.75	9.29	2.85	1.99
Increase / (Decrease) in Invested Capital	18	-0.52	-84	188	53	-343	-5.13	375	389	99
Enterprise Value (EV)	438	627	997	590	1,022	667	1,142	1,489	2,037	1,974
Market Capitalization	443	633	1,161	606	1,035	978	1,499	1,569	1,861	1,787
Book Value per Share	$4.02	$4.02	$6.08	$7.19	$8.58	$6.60	$8.39	$11.04	$14.66	$17.00
Tangible Book Value per Share	$3.14	$3.14	$5.21	$3.43	$3.99	$4.05	$5.96	$7.32	$10.80	$11.58
Total Capital	144	144	218	258	308	238	303	403	719	826
Total Debt	1.91	1.70	1.49	0.73	0.55	0.00	0.00	1.59	185	203
Total Long-Term Debt	1.91	1.70	1.49	0.73	0.55	0.00	0.00	1.59	185	203
Net Debt	-5.25	-5.98	-164	-16	-14	-311	-357	-80	176	187
Capital Expenditures (CapEx)	23	19	15	26	37	4.14	23	28	79	95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	132	105	170	215	229	127	158	225	280	227
Debt-free Net Working Capital (DFNWC)	139	113	336	231	243	438	515	306	289	244
Net Working Capital (NWC)	139	113	336	231	243	438	515	306	289	244
Net Nonoperating Expense (NNE)	31	33	145	45	48	63	-4.48	37	41	51
Net Nonoperating Obligations (NNO)	-5.22	-5.91	-164	-16	-14	-287	-357	-79	177	187
Total Depreciation and Amortization (D&A)	188	191	195	238	278	269	265	303	391	437
Debt-free, Cash-free Net Working Capital to Revenue	12.68%	10.75%	16.54%	17.33%	16.98%	12.64%	14.85%	18.06%	19.08%	14.99%
Debt-free Net Working Capital to Revenue	13.37%	11.53%	32.64%	18.67%	18.03%	43.51%	48.47%	24.59%	19.65%	16.07%
Net Working Capital to Revenue	13.37%	11.53%	32.64%	18.67%	18.03%	43.51%	48.47%	24.59%	19.65%	16.07%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.26	$1.05	$3.09	$2.15	$2.43	($0.91)	$0.00	$3.68	$4.69	$3.39
Adjusted Weighted Average Basic Shares Outstanding	35.27M	35.39M	35.52M	35.68M	35.86M	36.07M	0.00	35.94M	36.10M	36.27M
Adjusted Diluted Earnings per Share	$1.25	$1.05	$3.07	$2.13	$2.42	($0.91)	$0.00	$3.66	$4.66	$3.37
Adjusted Weighted Average Diluted Shares Outstanding	35.34M	35.48M	35.70M	35.90M	36.03M	36.07M	0.00	36.09M	36.33M	36.51M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.47M	35.58M	35.66M	35.75M	35.87M	36.11M	0.00	36.32M	36.46M	36.61M
Normalized Net Operating Profit after Tax (NOPAT)	73	68	93	117	142	63	92	156	212	166
Normalized NOPAT Margin	7.07%	6.92%	9.03%	9.47%	10.50%	6.30%	8.69%	12.56%	14.41%	10.96%
Pre Tax Income Margin	7.28%	6.03%	5.76%	8.45%	8.59%	-5.94%	7.69%	14.52%	15.19%	10.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.40	2.10	1.74	2.64	2.70	0.44	2.52	4.34	4.67	3.23
NOPAT to Interest Expense	1.39	1.30	3.17	1.92	1.99	0.29	1.82	3.12	3.45	2.38
EBIT Less CapEx to Interest Expense	1.98	1.75	1.55	2.24	2.15	0.40	2.10	3.83	3.36	1.92
NOPAT Less CapEx to Interest Expense	0.97	0.95	2.99	1.51	1.44	0.25	1.40	2.61	2.14	1.07
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	83.77%	105.10%	35.72%	51.26%	45.16%	-121.21%	38.76%	30.16%	23.65%	32.70%
Augmented Payout Ratio	84.83%	106.60%	36.44%	53.02%	47.10%	-125.51%	40.82%	31.42%	27.23%	37.40%

This table displays calculated financial ratios and metrics derived from H&E Equipment Services' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.73%	25.55%	18.36%	22.25%	23.56%	9.26%	15.16%	4.46%	-3.95%	-0.45%	-13.98%
EBITDA Growth	23.54%	55.84%	35.28%	36.56%	32.02%	6.44%	12.76%	2.68%	-5.80%	-8.02%	-24.80%
EBIT Growth	40.19%	93.64%	36.15%	36.93%	26.83%	0.02%	10.63%	-8.95%	-24.51%	-32.92%	-85.40%
NOPAT Growth	39.18%	88.61%	35.13%	38.19%	22.36%	12.41%	10.78%	-11.54%	-25.72%	-29.00%	-89.30%
Net Income Growth	29.93%	-3.64%	57.55%	56.44%	27.37%	4.64%	0.84%	-19.30%	-36.44%	-38.79%	-123.98%
EPS Growth	29.63%	-1.37%	57.78%	58.33%	28.57%	1.39%	0.00%	-20.18%	-37.04%	-38.36%	-123.94%
Operating Cash Flow Growth	-12.00%	77.43%	12.32%	39.54%	32.31%	26.41%	92.83%	45.07%	5.79%	0.36%	17.34%
Free Cash Flow Firm Growth	-120.49%	-980.95%	-1,555.86%	-1,932.18%	-762.95%	-2.03%	-4.84%	34.68%	54.20%	83.78%	123.27%
Invested Capital Growth	235.12%	698.08%	1,007.66%	930.36%	350.68%	120.97%	116.95%	61.21%	38.30%	13.92%	-10.92%
Revenue Q/Q Growth	10.05%	8.89%	-8.68%	11.71%	11.23%	-3.72%	-3.75%	1.33%	2.28%	-0.20%	-16.83%
EBITDA Q/Q Growth	13.87%	23.43%	-18.26%	18.85%	10.09%	-0.48%	-13.41%	8.23%	1.00%	-2.83%	-29.21%
EBIT Q/Q Growth	25.83%	27.56%	-41.49%	45.79%	16.55%	0.60%	-35.28%	19.99%	-3.37%	-10.61%	-85.91%
NOPAT Q/Q Growth	28.96%	21.72%	-40.70%	48.47%	14.18%	11.82%	-41.56%	18.56%	-4.12%	6.89%	-91.20%
Net Income Q/Q Growth	45.66%	33.29%	-49.81%	60.54%	18.59%	9.50%	-51.63%	28.48%	-6.59%	5.46%	-118.95%
EPS Q/Q Growth	45.83%	37.14%	-50.69%	60.56%	18.42%	8.15%	-51.37%	28.17%	-6.59%	5.88%	-118.89%
Operating Cash Flow Q/Q Growth	62.87%	-4.65%	-57.64%	112.11%	54.43%	-8.91%	-35.38%	59.58%	12.62%	-13.59%	-24.45%
Free Cash Flow Firm Q/Q Growth	-312.02%	-537.84%	-18.07%	-14.75%	0.14%	24.59%	-21.32%	28.50%	29.98%	73.30%	274.06%
Invested Capital Q/Q Growth	168.98%	131.29%	14.55%	44.58%	17.65%	13.40%	12.47%	7.44%	0.93%	-6.59%	-12.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	46.84%	45.13%	43.84%	46.74%	47.01%	48.30%	44.40%	45.52%	44.55%	43.64%	38.69%
EBITDA Margin	42.99%	48.73%	43.62%	46.41%	45.93%	47.47%	42.71%	45.62%	45.05%	43.86%	37.33%
Operating Margin	19.73%	22.32%	14.48%	19.30%	19.77%	21.06%	14.01%	16.69%	15.76%	14.01%	1.83%
EBIT Margin	20.01%	23.44%	15.02%	19.60%	20.54%	21.46%	14.43%	17.08%	16.14%	14.46%	2.45%
Profit (Net Income) Margin	11.83%	14.49%	7.96%	11.44%	12.20%	13.87%	6.97%	8.84%	8.07%	8.53%	-1.94%
Tax Burden Percent	74.76%	73.90%	73.93%	73.73%	73.90%	80.58%	73.54%	72.22%	71.67%	86.36%	75.95%
Interest Burden Percent	79.12%	83.64%	71.72%	79.18%	80.38%	80.25%	65.72%	71.65%	69.78%	68.32%	-104.49%
Effective Tax Rate	25.24%	26.10%	26.07%	26.27%	26.10%	19.42%	26.46%	27.78%	28.33%	13.64%	0.00%
Return on Invested Capital (ROIC)	191.62%	153.22%	84.55%	66.24%	54.80%	48.29%	26.78%	26.57%	22.97%	24.14%	2.48%
ROIC Less NNEP Spread (ROIC-NNEP)	195.95%	156.47%	88.98%	76.59%	78.97%	23.72%	14.45%	19.96%	16.89%	16.60%	-3.29%
Return on Net Nonoperating Assets (RNNOA)	-138.62%	-96.96%	-48.89%	-19.11%	-7.47%	2.46%	3.00%	7.12%	6.35%	5.22%	-1.02%
Return on Equity (ROE)	53.00%	56.26%	35.66%	47.13%	47.34%	50.75%	29.77%	33.69%	29.32%	29.36%	1.47%
Cash Return on Invested Capital (CROIC)	48.56%	-64.25%	-62.79%	-98.96%	-74.46%	-34.72%	-37.20%	-16.98%	-6.28%	9.80%	30.03%
Operating Return on Assets (OROA)	10.99%	13.34%	8.55%	11.27%	12.27%	12.78%	8.45%	9.69%	8.94%	8.07%	1.32%
Return on Assets (ROA)	6.50%	8.25%	4.53%	6.58%	7.29%	8.27%	4.09%	5.01%	4.47%	4.76%	-1.05%
Return on Common Equity (ROCE)	53.00%	56.26%	35.66%	47.13%	47.34%	50.75%	29.77%	33.69%	29.32%	29.36%	1.47%
Return on Equity Simple (ROE_SIMPLE)	37.49%	0.00%	33.97%	34.77%	34.20%	0.00%	30.78%	28.05%	24.07%	0.00%	15.05%
Net Operating Profit after Tax (NOPAT)	48	58	35	51	59	65	38	45	43	46	4.09
NOPAT Margin	14.75%	16.49%	10.71%	14.23%	14.61%	16.97%	10.30%	12.05%	11.30%	12.10%	1.28%
Net Nonoperating Expense Percent (NNEP)	-4.34%	-3.25%	-4.43%	-10.35%	-24.17%	24.57%	12.33%	6.61%	6.08%	7.54%	5.77%
Return On Investment Capital (ROIC_SIMPLE)	-	14.46%	-	-	-	9.11%	-	-	-	5.63%	0.57%
Cost of Revenue to Revenue	53.16%	54.87%	56.16%	53.26%	52.99%	51.70%	55.60%	54.48%	55.45%	56.36%	61.31%
SG&A Expenses to Revenue	27.27%	26.76%	29.56%	27.55%	26.01%	27.64%	30.77%	29.72%	29.22%	30.46%	34.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.10%	22.81%	29.36%	27.43%	27.24%	27.24%	30.39%	28.83%	28.79%	29.62%	36.86%
Earnings before Interest and Taxes (EBIT)	65	83	48	71	82	83	54	64	62	56	7.82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	139	172	141	167	184	183	159	172	173	168	119
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.75	3.91	3.74	3.62	3.15	3.48	4.22	2.80	2.98	2.87	5.75
Price to Tangible Book Value (P/TBV)	3.60	5.90	5.51	5.12	4.22	4.73	6.49	4.33	4.49	4.22	8.51
Price to Revenue (P/Rev)	0.84	1.26	1.20	1.20	1.07	1.27	1.53	1.05	1.17	1.18	2.37
Price to Earnings (P/E)	7.32	11.87	11.01	10.40	9.20	10.99	13.72	9.99	12.37	14.53	38.19
Dividend Yield	4.05%	2.55%	2.56%	2.46%	2.61%	2.15%	1.72%	2.49%	2.26%	2.25%	1.16%
Earnings Yield	13.65%	8.42%	9.08%	9.62%	10.87%	9.10%	7.29%	10.01%	8.08%	6.88%	2.62%
Enterprise Value to Invested Capital (EV/IC)	5.49	4.63	4.10	3.21	2.67	2.87	3.22	2.21	2.36	2.44	5.03
Enterprise Value to Revenue (EV/Rev)	0.65	1.20	1.17	1.26	1.17	1.39	1.70	1.24	1.35	1.30	2.44
Enterprise Value to EBITDA (EV/EBITDA)	1.60	2.77	2.63	2.76	2.52	3.02	3.71	2.72	2.98	2.94	5.66
Enterprise Value to EBIT (EV/EBIT)	3.92	6.34	6.10	6.41	5.89	7.17	8.90	6.70	7.79	8.38	18.86
Enterprise Value to NOPAT (EV/NOPAT)	5.40	8.82	8.50	8.91	8.26	9.71	12.04	9.12	10.60	11.38	25.62
Enterprise Value to Operating Cash Flow (EV/OCF)	2.84	4.75	4.75	4.97	4.42	5.02	5.78	3.89	4.13	3.98	7.02
Enterprise Value to Free Cash Flow (EV/FCFF)	17.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	26.48	15.77
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.10	0.29	0.30	0.35	0.47	0.51	0.47	0.33	0.20
Long-Term Debt to Equity	0.00	0.00	0.10	0.29	0.30	0.35	0.47	0.51	0.47	0.33	0.20
Financial Leverage	-0.71	-0.62	-0.55	-0.25	-0.09	0.10	0.21	0.36	0.38	0.31	0.31
Leverage Ratio	6.92	6.21	6.25	6.08	5.68	5.27	5.36	5.27	5.05	4.70	4.71
Compound Leverage Factor	5.47	5.19	4.48	4.81	4.57	4.23	3.52	3.78	3.52	3.21	-4.92
Debt to Total Capital	0.45%	0.40%	9.07%	22.36%	22.94%	25.68%	31.87%	33.57%	31.95%	24.62%	16.39%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.45%	0.40%	9.07%	22.36%	22.94%	25.68%	31.87%	33.57%	31.95%	24.62%	16.39%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.55%	99.60%	90.93%	77.64%	77.06%	74.32%	68.13%	66.43%	68.05%	75.38%	83.61%
Debt to EBITDA	0.00	0.00	0.07	0.21	0.22	0.27	0.37	0.42	0.41	0.30	0.19
Net Debt to EBITDA	-0.46	-0.15	-0.08	0.13	0.21	0.26	0.36	0.41	0.39	0.28	0.17
Long-Term Debt to EBITDA	0.00	0.00	0.07	0.21	0.22	0.27	0.37	0.42	0.41	0.30	0.19
Debt to NOPAT	0.01	0.01	0.23	0.68	0.72	0.88	1.21	1.40	1.45	1.17	0.85
Net Debt to NOPAT	-1.55	-0.47	-0.27	0.43	0.68	0.84	1.16	1.36	1.39	1.08	0.77
Long-Term Debt to NOPAT	0.01	0.01	0.23	0.68	0.72	0.88	1.21	1.40	1.45	1.17	0.85
Altman Z-Score	1.29	1.45	1.37	1.38	1.40	1.51	1.56	1.31	1.34	1.42	1.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.60	3.36	2.71	2.63	3.38	4.36	4.40	2.62	3.27	6.35	5.70
Quick Ratio	3.47	2.36	1.57	1.43	2.14	2.98	2.98	2.27	2.87	5.82	4.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-50	-317	-375	-430	-429	-324	-393	-281	-197	-52	91
Operating Cash Flow to CapEx	963.82%	0.00%	374.60%	449.88%	674.22%	486.67%	222.46%	390.56%	1,008.25%	1,449.23%	695.88%
Free Cash Flow to Firm to Interest Expense	-3.67	-23.43	-27.35	-29.24	-26.58	-19.80	-21.38	-15.40	-10.47	-2.98	5.71
Operating Cash Flow to Interest Expense	7.90	7.54	3.16	6.24	8.77	7.89	4.54	7.30	7.98	7.36	6.11
Operating Cash Flow Less CapEx to Interest Expense	7.08	7.90	2.31	4.85	7.47	6.27	2.50	5.43	7.19	6.85	5.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.57	0.57	0.57	0.60	0.60	0.59	0.57	0.55	0.56	0.54
Accounts Receivable Turnover	6.50	6.51	6.85	6.63	6.29	6.22	6.59	6.46	6.01	6.11	6.41
Inventory Turnover	7.20	7.53	4.76	4.65	6.12	7.21	5.48	7.57	10.37	13.69	14.65
Fixed Asset Turnover	9.80	10.08	10.16	9.94	9.80	9.23	8.52	7.83	7.44	7.11	6.31
Accounts Payable Turnover	6.35	6.13	4.61	4.51	6.41	7.30	5.79	5.41	7.76	12.88	12.82
Days Sales Outstanding (DSO)	56.14	56.09	53.26	55.03	57.99	58.72	55.37	56.47	60.77	59.70	56.93
Days Inventory Outstanding (DIO)	50.73	48.48	76.70	78.43	59.61	50.64	66.55	48.21	35.21	26.66	24.92
Days Payable Outstanding (DPO)	57.48	59.59	79.26	81.00	56.94	49.99	63.05	67.44	47.03	28.34	28.47
Cash Conversion Cycle (CCC)	49.39	44.99	50.70	52.45	60.67	59.37	58.87	37.24	48.95	58.02	53.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	139	322	368	533	627	711	799	859	867	810	712
Invested Capital Turnover	12.99	9.29	7.90	4.65	3.75	2.85	2.60	2.20	2.03	1.99	1.94
Increase / (Decrease) in Invested Capital	98	375	409	481	488	389	431	326	240	99	-87
Enterprise Value (EV)	763	1,489	1,510	1,709	1,674	2,037	2,574	1,896	2,047	1,974	3,579
Market Capitalization	982	1,569	1,559	1,626	1,536	1,861	2,326	1,613	1,778	1,787	3,471
Book Value per Share	$9.89	$11.04	$11.47	$12.37	$13.42	$14.66	$15.21	$15.77	$16.35	$17.00	$16.49
Tangible Book Value per Share	$7.54	$7.32	$7.79	$8.74	$10.00	$10.80	$9.90	$10.21	$10.84	$11.58	$11.14
Total Capital	359	403	458	579	633	719	808	867	878	826	722
Total Debt	1.62	1.59	42	130	145	185	258	291	280	203	118
Total Long-Term Debt	1.62	1.59	42	130	145	185	258	291	280	203	118
Net Debt	-219	-80	-48	83	138	176	249	283	269	187	108
Capital Expenditures (CapEx)	11	-4.94	12	20	21	27	37	34	15	8.93	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	220	225	244	266	282	280	279	175	197	227	202
Debt-free Net Working Capital (DFNWC)	440	306	333	312	289	289	288	183	208	244	213
Net Working Capital (NWC)	440	306	333	312	289	289	288	183	208	244	213
Net Nonoperating Expense (NNE)	9.47	7.08	8.86	10	9.66	12	12	12	12	14	10
Net Nonoperating Obligations (NNO)	-219	-79	-48	83	139	177	249	283	270	187	108
Total Depreciation and Amortization (D&A)	75	89	92	97	102	100	105	107	111	113	111
Debt-free, Cash-free Net Working Capital to Revenue	18.74%	18.06%	18.81%	19.52%	19.65%	19.08%	18.37%	11.39%	12.98%	14.99%	13.81%
Debt-free Net Working Capital to Revenue	37.55%	24.59%	25.76%	22.97%	20.13%	19.65%	18.97%	11.95%	13.71%	16.07%	14.52%
Net Working Capital to Revenue	37.55%	24.59%	25.76%	22.97%	20.13%	19.65%	18.97%	11.95%	13.71%	16.07%	14.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.05	$1.46	$0.71	$1.14	$1.35	$1.49	$0.72	$0.92	$0.86	$0.89	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	36.46M	35.94M	36.03M	36.08M	36.13M	36.10M	36.20M	36.25M	36.30M	36.27M	36.36M
Adjusted Diluted Earnings per Share	$1.05	$1.44	$0.71	$1.14	$1.35	$1.46	$0.71	$0.91	$0.85	$0.90	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	36.55M	36.09M	36.35M	36.30M	36.32M	36.33M	36.56M	36.47M	36.46M	36.51M	36.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	36.31M	36.32M	36.38M	36.38M	36.45M	36.46M	36.53M	36.52M	36.61M	36.61M	36.67M
Normalized Net Operating Profit after Tax (NOPAT)	47	58	34	51	62	64	37	43	42	44	1.56
Normalized NOPAT Margin	14.63%	16.49%	10.56%	14.14%	15.52%	16.65%	10.02%	11.41%	10.99%	11.38%	0.49%
Pre Tax Income Margin	15.83%	19.60%	10.77%	15.52%	16.51%	17.22%	9.48%	12.24%	11.26%	9.88%	-2.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.79	6.11	3.54	4.80	5.10	5.06	2.92	3.53	3.31	3.16	0.49
NOPAT to Interest Expense	3.53	4.30	2.52	3.49	3.63	4.00	2.08	2.49	2.32	2.64	0.26
EBIT Less CapEx to Interest Expense	3.97	6.48	2.69	3.42	3.80	3.44	0.88	1.66	2.52	2.65	-0.39
NOPAT Less CapEx to Interest Expense	2.71	4.67	1.68	2.10	2.33	2.38	0.04	0.62	1.53	2.13	-0.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.69%	30.16%	28.19%	25.55%	23.96%	23.65%	23.64%	24.83%	27.94%	32.70%	44.29%
Augmented Payout Ratio	30.90%	31.42%	31.41%	28.46%	27.61%	27.23%	27.31%	28.68%	31.96%	37.40%	52.77%

Frequently Asked Questions About H&E Equipment Services' Financials

When does H&E Equipment Services's fiscal year end?

According to the most recent income statement we have on file, H&E Equipment Services' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has H&E Equipment Services' net income changed over the last 9 years?

H&E Equipment Services' net income appears to be on an upward trend, with a most recent value of $122.98 million in 2024, rising from $44.31 million in 2015. The previous period was $169.29 million in 2023. Find out what analysts predict for H&E Equipment Services in the coming months.

What is H&E Equipment Services's operating income?

H&E Equipment Services's total operating income in 2024 was $229.31 million, based on the following breakdown:

Total Gross Profit: $675.20 million
Total Operating Expenses: $445.89 million

How has H&E Equipment Services revenue changed over the last 9 years?

Over the last 9 years, H&E Equipment Services' total revenue changed from $1.04 billion in 2015 to $1.52 billion in 2024, a change of 45.8%.

How much debt does H&E Equipment Services have?

H&E Equipment Services' total liabilities were at $2.17 billion at the end of 2024, a 3.2% increase from 2023, and a 87.8% increase since 2015.

How much cash does H&E Equipment Services have?

In the past 9 years, H&E Equipment Services' cash and equivalents has ranged from $7.16 million in 2015 to $357.30 million in 2021, and is currently $16.41 million as of their latest financial filing in 2024.

How has H&E Equipment Services' book value per share changed over the last 9 years?

Over the last 9 years, H&E Equipment Services' book value per share changed from 4.02 in 2015 to 17.00 in 2024, a change of 322.5%.

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This page (NASDAQ:HEES) was last updated on 5/5/2025 by MarketBeat.com Staff

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H&E Equipment Services (HEES) Financials

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H&E Equipment Services (HEES) Financials

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