H&e Equipment Services, Inc.

Industrials
Misc Corporate Leasing Services
www.he-equipment.com

Earnings Score
Moat Score

Market Cap $2.17B
PE 15
Debt $NaN
Cash $11.08M
EV $NaN
FCF $372.80M

Earnings

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Sales & Net Margins

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Earnings	$143.74M
EBIT	$256.73M
ROE	24%
ROA	9%
FCF	$372.80M
Equity	$597.21M
Growth Stability	-36%
PE	15.12
PEG	0.21
PB	3.64
P/FCF	5.83
P/S	1.43
Price/Cash	0.01
Net Margins	8%
Gross Margins	46%
Op. Margins	17%
Earnings CAGR	14%
Sales Growth YoY	-4%
Sales Growth QoQ	2%
Sales CAGR	4%
FCF CAGR	7%
Equity CAGR	16%
Earnings Stability	0.15
Earnings Growth YoY	-36%

Earnings Growth QoQ	-7%
Earnings CAGR 5Y	73%
Sales CAGR 5Y	5%
FCF CAGR 5Y	5%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	18%
Sales CAGR 3Y	18%
FCF CAGR 3Y	23%
Equity CAGR 3Y	31%
Market Cap	$2.17B
Revenue	$1.52B
Dividend Yield	2%
Payout Ratio	28%
Assets	$2.89B
Cash	$11.08M
Shares Outstanding	36.23M
Earnings Score	9%
Moat Score	91%
Gross Profit	$693.94M
Shares Growth 3y	0%
Equity Growth QoQ	4%
Equity Growth YoY	22%

Assets & ROA

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Stockholders Equity & ROE

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H&E Equipment Services Inc is an integrated equipment services company. It is focused on heavy construction and industrial equipment. It rents, sells and provides parts and services support for four core categories of equipment including hi-lift or aerial work platform equipment, cranes, earthmoving equipment and industrial lift trucks. It engages in five principal business activities which include equipment rentals; new equipment sales; used equipment sales; parts sales; and repair and maintenance services. The majority of its revenue is derived from the equipment rentals segment.

SEC Filings

Direct access to H&e Equipment Services, Inc. (HEES) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does H&e Equipment Services, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of H&e Equipment Services, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 14%

Stability 15%

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H&e Equipment Services, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for H&e Equipment Services, Inc..

Years

Calculation mode

= $6.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$373M	$400M	$429M	$460M	$493M	$529M	$567M	$609M	$653M	$700M	$751M	$7.5B
DCF		$363M	$354M	$346M	$337M	$328M	$320M	$312M	$304M	$297M	$289M	$2.9B
Value	$6.1B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	4%	4%	11%	6%	6%	-3%	10%	11%	12%	8%
ROA	-	10%	9%	9%	10%	9%	3%	6%	10%	10%	9%
ROE	-	31%	26%	51%	30%	28%	-14%	34%	33%	32%	24%

Net Margins (7.97%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	-36%	100%	100%	100%	-36%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-36%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-5%	-6%	5%	20%	9%	-13%	-9%	17%	18%	5%
Earnings YoY growth	-	-20%	-16%	195%	-30%	14%	-137%	-414%	29%	28%	73%
Equity YoY growth	-	7%	0%	52%	18%	20%	-23%	27%	32%	33%	22%
FCF YoY growth	-	44%	-14%	32%	4%	30%	-3%	-16%	16%	23%	5%