Sunbelt Rentals Holdings, Inc. (SUNB) Cash Flow Statement
Where SUNB’s cash came from and went, FY2026
April 30, 2026 · U.S. dollars- Cash from operations
- $3.78B +74.1% vs FY2025
- Capital expenditures
- $352.0M 3.2% of revenue
- Free cash flow
- $3.43B 30.8% margin
- Returned to shareholders
- $1.90B 55% of free cash flow
- Change in cash
- $8.0M cash at year-end $29.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
SUNB operating cash flow, capex and free cash flow
SUNB cash flow trends, FY2022–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.50BFY2022 | $3.78BFY2026 | +26.0%/yr | |
| Capital expenditures | $398.4MFY2022 | $352.0MFY2026 | −3.0%/yr | |
| Free cash flow | $1.10BFY2022 | $3.43BFY2026 | +32.9%/yr | |
| Free cash flow margin | 13.8%FY2022 | 30.8%FY2026 | +16.9 pts | |
| Operating cash flow / net income | 0.77FY2022 | 2.86FY2026 | +2.09 | |
| Stock-based compensation | $48.1MFY2022 | $80.0MFY2026 | +13.6%/yr | |
| Dividends paid | $269.3MFY2022 | $464.0MFY2026 | +14.6%/yr | |
| Share buybacks (net) | $433.4MFY2022 | $1.43BFY2026 | +34.8%/yr | |
| Capex / revenue | 5.0%FY2022 | 3.2%FY2026 | −1.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SUNB cash flow by activity
SUNB net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SUNB cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | $1.32B | $2.56B | $2.65B | $2.52B | $1.95B |
| Depreciation & amortization | $2.31B | $2.45B | $2.24B | $1.89B | $1.66B |
| Stock-based compensation | $80.0M | −$9.0M | $47.5M | $44.8M | $48.1M |
| Change in working capital | −$340.0M | $7.4M | −$153.4M | −$180.1M | −$162.5M |
| Other non-cash items | $410.0M | −$2.83B | −$3.93B | −$3.28B | −$2.00B |
| Cash from operating activities | $3.78B | $2.17B | $854.6M | $1.00B | $1.50B |
| Investing activities | |||||
| Capital expenditures | −$352.0M | −$455.6M | −$685.6M | −$510.0M | −$398.4M |
| Investments (net) | — | $0 | −$15.0M | −$42.4M | −$40.0M |
| Acquisitions & other investing | −$1.57B | −$86.2M | −$826.2M | −$1.04B | −$1.25B |
| Cash from investing activities | −$1.93B | −$541.8M | −$1.53B | −$1.59B | −$1.69B |
| Financing activities | |||||
| Dividends paid | −$464.0M | −$544.2M | −$436.1M | −$357.8M | −$269.3M |
| Share repurchases & issuance (net) | −$1.43B | −$427.4M | −$108.3M | −$276.9M | −$433.4M |
| Net borrowing (repayment) | $21.0M | −$522.7M | $1.34B | $1.35B | $991.8M |
| Shares issued | $24.0M | $0 | $0 | $0 | $0 |
| Other financing | $0 | −$138.0M | −$133.7M | −$109.5M | −$107.6M |
| Cash from financing activities | −$1.85B | −$1.63B | $663.2M | $609.3M | $181.5M |
| Summary | |||||
| Net change in cash | $8.0M | $200,000 | −$9.1M | $14.6M | −$11.3M |
| Cash at end of period | $29.0M | $21.0M | $20.8M | $29.9M | $15.3M |
| Free cash flow | $3.43B | $1.72B | $169.0M | $490.1M | $1.10B |
| Free cash flow margin | 30.8% | 15.9% | 1.6% | 5.1% | 13.8% |
| Capex / revenue | 3.2% | 4.2% | 6.3% | 5.3% | 5.0% |
| Operating cash flow / net income | 2.86 | 0.85 | 0.32 | 0.40 | 0.77 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | $438.0M | $226.0M | −$247.2M | $704.4M | $641.8M | $522.9M | $549.8M | $796.2M |
| Depreciation & amortization | $585.0M | $581.0M | $468.5M | $638.1M | $621.4M | $614.8M | $620.9M | $614.0M |
| Stock-based compensation | $26.0M | $40.0M | $40.0M | — | $23.0M | — | — | — |
| Change in working capital | −$361.0M | −$68.0M | $186.9M | $64.1M | −$251.0M | $101.9M | $30.3M | $36.5M |
| Other non-cash items | $152.0M | $171.0M | $1.13B | −$752.7M | −$437.7M | −$256.9M | −$705.7M | −$1.04B |
| Cash from operating activities | $840.0M | $950.0M | $1.58B | $653.9M | $597.5M | $982.7M | $495.3M | $408.0M |
| Investing activities | ||||||||
| Capital expenditures | −$96.0M | −$73.0M | −$79.4M | −$87.4M | −$112.2M | −$76.2M | −$73.6M | −$167.7M |
| Investments (net) | — | — | — | — | — | $0 | $0 | — |
| Acquisitions & other investing | −$1.34B | −$311.0M | −$1.18B | −$77.1M | −$7.1M | −$63.1M | $5.8M | $18.6M |
| Cash from investing activities | −$1.44B | −$384.0M | −$1.26B | −$164.5M | −$119.3M | −$139.3M | −$67.8M | −$149.1M |
| Financing activities | ||||||||
| Dividends paid | −$307.0M | −$157.0M | −$307.0M | −$307.3M | $0 | −$156.8M | −$400,000 | — |
| Share repurchases & issuance (net) | −$56.0M | −$366.0M | $713.6M | −$402.8M | −$329.8M | −$254.1M | −$88.4M | −$84.9M |
| Net borrowing (repayment) | $980.0M | −$76.0M | $6.0M | $256.7M | −$91.5M | −$400.4M | −$305.6M | $181.9M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$16.0M | $24.0M | −$739.7M | −$19.2M | −$55.0M | −$37.9M | −$30.4M | −$349.0M |
| Cash from financing activities | $601.0M | −$575.0M | −$327.1M | −$472.6M | −$476.3M | −$849.2M | −$424.8M | −$252.0M |
| Summary | ||||||||
| Net change in cash | $3.0M | −$10.0M | −$600,000 | $16.7M | $1.9M | −$4.8M | $2.1M | $6.7M |
| Cash at end of period | $32.0M | $29.0M | $39.0M | $39.6M | $22.9M | $21.0M | $25.8M | $23.7M |
| Free cash flow | $744.0M | $877.0M | $1.50B | $566.5M | $485.3M | $906.5M | $421.7M | $240.3M |
| Free cash flow margin | 23.9% | 31.8% | 57.0% | 19.1% | 17.3% | 35.8% | 16.4% | 8.2% |
| Capex / revenue | 3.1% | 2.7% | 3.0% | 3.0% | 4.0% | 3.0% | 2.9% | 5.7% |
| Operating cash flow / net income | 1.92 | 4.20 | — | 0.93 | 0.93 | 1.88 | 0.90 | 0.51 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
SUNB cash generation
In fiscal 2026 (ended April 30, 2026), Sunbelt Rentals generated $3.8 billion of cash from operations (up 74.1%) and spent $352.0 million on capital expenditures, leaving free cash flow of $3.4 billion, 30.8% of revenue. It returned $1.9 billion to shareholders through dividends ($464.0 million) and net share buybacks ($1.4 billion). Cash and equivalents rose by $8.0 million over the year.
Related: SUNB income statement, SUNB balance sheet. See the SUNB stock overview for the latest quote and news.
SUNB cash flow FAQ
What is Sunbelt Rentals's free cash flow?
Sunbelt Rentals's free cash flow was $3.4 billion in fiscal 2026: $3.8 billion of operating cash flow minus $352.0 million of capital expenditures It was $1.7 billion a year earlier..
How much cash does Sunbelt Rentals generate from operations?
Sunbelt Rentals generated $3.8 billion of cash from operating activities in fiscal 2026, 2.86 times its net income of $1.3 billion.
How much does Sunbelt Rentals spend on capital expenditures?
Sunbelt Rentals spent $352.0 million on capital expenditures in fiscal 2026, 3.2% of revenue, compared with $455.6 million the year before.
How much stock does Sunbelt Rentals buy back?
Sunbelt Rentals spent $1.4 billion on net share repurchases in fiscal 2026.
How much does Sunbelt Rentals pay in dividends?
Sunbelt Rentals paid $464.0 million in dividends in fiscal 2026, 13.5% of free cash flow.