H&E Equipment Services (HEES) Financials

$95.24 +0.16 (+0.17%)

Closing price 04:00 PM Eastern

Extended Trading

$95.22 -0.02 (-0.02%)

As of 04:09 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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	123	169	132	103	-33	87	77	110	37	44
Consolidated Net Income / (Loss)	123	169	132	103	-33	87	77	110	37	44
Net Income / (Loss) Continuing Operations	123	169	134	61	-46	87	77	110	37	44
Total Pre-Tax Income	163	223	181	82	-60	116	105	59	59	76
Total Operating Income	229	277	228	132	43	180	167	138	111	128
Total Gross Profit	675	684	555	415	357	499	439	360	336	346
Total Revenue	1,517	1,469	1,245	1,063	1,007	1,348	1,239	1,030	978	1,040
Operating Revenue	1,517	1,469	1,245	1,063	1,007	1,348	1,239	1,030	978	1,040
Total Cost of Revenue	841	785	689	647	650	849	800	670	643	694
Operating Cost of Revenue	841	785	689	647	650	849	800	670	643	694
Total Operating Expenses	446	408	327	283	314	319	272	222	225	217
Selling, General & Admin Expense	456	405	344	291	266	311	278	233	228	220
Impairment Charge	0.00	5.71	0.00	0.00	56	12	0.00	-	-	-
Other Special Charges / (Income)	-9.67	-3.39	-17	-7.75	-8.41	-4.62	-7.12	-5.01	-3.29	-2.74
Total Other Income / (Expense), net	-67	-54	-47	-51	-103	-64	-62	-79	-52	-53
Interest Expense	73	61	54	54	106	68	64	80	54	54
Other Income / (Expense), net	6.19	7.38	6.61	3.16	3.18	3.98	1.72	1.75	1.87	1.46
Income Tax Expense	40	54	47	21	-13	29	28	-50	22	31
Net Income / (Loss) Discontinued Operations	0.00	0.00	-1.52	42	14	-	-	-	-	-
Basic Earnings per Share	$3.39	$4.69	$3.68	$2.83	($0.91)	$2.43	$2.15	$3.09	$1.05	$1.26
Weighted Average Basic Shares Outstanding	36.27M	36.10M	35.94M	36.26M	36.07M	35.86M	35.68M	35.52M	35.39M	35.27M
Diluted Earnings per Share	$3.37	$4.66	$3.66	$2.81	($0.91)	$2.42	$2.13	$3.07	$1.05	$1.25
Weighted Average Diluted Shares Outstanding	36.51M	36.33M	36.09M	36.45M	36.07M	36.03M	35.90M	35.70M	35.48M	35.34M
Weighted Average Basic & Diluted Shares Outstanding	36.61M	36.46M	36.32M	-	36.11M	35.87M	35.75M	35.50M	35.40M	35.20M
Cash Dividends to Common per Share	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.05

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-6.21	33	31	33	26	54	49	41	26	51	38
Consolidated Net Income / (Loss)	-6.21	33	31	33	26	54	49	41	26	51	38
Net Income / (Loss) Continuing Operations	-6.21	33	31	33	26	54	49	41	26	51	38
Total Pre-Tax Income	-8.17	38	43	46	35	66	66	56	35	69	51
Total Operating Income	5.85	54	61	63	52	81	79	70	47	79	64
Total Gross Profit	124	168	171	171	165	186	188	168	141	159	152
Total Revenue	319	384	385	376	371	386	401	360	322	353	324
Operating Revenue	319	384	385	376	371	386	401	360	322	353	324
Total Cost of Revenue	196	216	213	205	206	199	212	192	181	194	172
Operating Cost of Revenue	196	216	213	205	206	199	212	192	181	194	172
Total Operating Expenses	118	114	111	108	113	105	109	99	95	81	88
Selling, General & Admin Expense	112	117	112	112	114	107	104	99	95	94	88
Other Operating Expenses / (Income)	9.79	-	-	-	-	-	-	-	-	-	-
Other Special Charges / (Income)	-3.62	-3.22	-1.66	-3.35	-1.43	-1.52	-0.76	-0.44	-0.67	-	-0.53
Total Other Income / (Expense), net	-14	-16	-17	-17	-17	-15	-13	-14	-12	-9.59	-13
Interest Expense	16	18	19	18	18	16	16	15	14	14	14
Other Income / (Expense), net	1.98	1.71	1.45	1.48	1.55	1.53	3.07	1.06	1.72	3.95	0.88
Income Tax Expense	-1.97	5.17	12	13	9.32	13	17	15	9.06	18	13
Basic Earnings per Share	($0.17)	$0.89	$0.86	$0.92	$0.72	$1.49	$1.35	$1.14	$0.71	$1.46	$1.05
Weighted Average Basic Shares Outstanding	36.36M	36.27M	36.30M	36.25M	36.20M	36.10M	36.13M	36.08M	36.03M	35.94M	36.46M
Diluted Earnings per Share	($0.17)	$0.90	$0.85	$0.91	$0.71	$1.46	$1.35	$1.14	$0.71	$1.44	$1.05
Weighted Average Diluted Shares Outstanding	36.36M	36.51M	36.46M	36.47M	36.56M	36.33M	36.32M	36.30M	36.35M	36.09M	36.55M
Weighted Average Basic & Diluted Shares Outstanding	36.67M	36.61M	36.61M	36.52M	36.53M	36.46M	36.45M	36.38M	36.38M	36.32M	36.31M
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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	7.91	-73	-276	46	297	-2.43	-149	158	0.52	-8.70
Net Cash From Operating Activities	496	405	313	260	286	319	247	226	177	207
Net Cash From Continuing Operating Activities	496	405	313	260	286	319	247	226	177	207
Net Income / (Loss) Continuing Operations	123	169	132	103	-33	87	77	110	37	44
Consolidated Net Income / (Loss)	123	169	132	103	-33	87	77	110	37	44
Depreciation Expense	423	382	296	259	263	272	233	193	190	186
Amortization Expense	13	9.23	6.91	6.24	5.66	5.78	4.88	1.32	0.88	1.20
Non-Cash Adjustments To Reconcile Net Income	-57	-60	-54	-70	54	-15	-37	-13	39	-31
Changes in Operating Assets and Liabilities, net	-6.59	-94	-68	-38	-3.72	-31	-31	-65	-90	6.13
Net Cash From Investing Activities	-459	-609	-547	-171	21	-326	-526	-153	-114	-102
Net Cash From Continuing Investing Activities	-459	-609	-547	-307	21	-326	-526	-153	-114	-102
Purchase of Property, Plant & Equipment	-107	-84	-51	-35	-19	-43	-35	-23	-23	-27
Acquisitions	-158	-31	-136	0.00	0.00	-107	-196	-	-	-
Sale of Property, Plant & Equipment	11	4.45	24	12	15	6.05	9.26	7.51	3.81	4.29
Other Investing Activities, net	-206	-498	-383	-284	25	-182	-305	-138	-95	-79
Net Cash From Financing Activities	-29	130	-43	-42	-10	4.26	130	85	-62	-114
Net Cash From Continuing Financing Activities	-29	130	-43	-42	-10	4.26	130	85	-62	-114
Repayment of Debt	18	-1,613	-1,278	-0.14	-2,913	-1,412	-1,266	-2,027	-989	-1,059
Repurchase of Common Equity	-5.78	-6.05	-1.67	-2.11	-1.41	-1.68	-1.35	-0.78	-0.56	-0.47
Payment of Dividends	-40	-40	-40	-40	-40	-39	-39	-39	-39	-37
Issuance of Debt	0.00	1,790	1,278	0.00	2,944	1,458	1,437	2,152	966	983
Other Financing Activities, net	-0.32	-0.16	-1.14	-0.19	-0.25	-0.23	0.00	-	-	-
Cash Interest Paid	71	57	52	52	77	67	62	50	52	53
Cash Income Taxes Paid	11	5.81	5.89	4.81	-0.22	1.00	2.37	0.48	0.18	-1.59

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

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

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

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

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

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

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

Frequently Asked Questions About H&E Equipment Services' Financials

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

According to the most recent income statement we have on file, H&E Equipment Services' fiscal year ends in December. Their fiscal 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. See where experts think H&E Equipment Services is headed by visiting H&E Equipment Services' forecast page.

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 5/29/2025 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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