EQPT // EquipmentShare.com Inc

DES <GO> NASDAQ CIK 0001693736 ↗

Consumer Discretionary • Diversified Commercial Services

$18.18 ▲ +0.25 (+1.39%)

MKT CAP: $4.61B • VOL: 2.65M

52W L $13 52W H $36

ALTMAN Z

1.22 RISK

PIOTROSKI

7 / 9

EQPT // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 58/100 [D+] (-1 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE D+

RQD CONFIDENCE

57 / 100 -1D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Sell — Weak Fundamentals / Trim

01 MASSIVE / SEC XBRL

Forensic Fundamentals

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

02 OPRA GEX + SEC 13F

Whale & Options Flow

10 / 20

NEUTRAL

NET GEX +0% • CALL SWEEP 52% • P/C 0.65

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

14 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

13 / 20

SOLID

20 BASE - 7 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON EQPT)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 94/100 Z-SCORE: +4.27σ

EQPT Accounting Gap: Net Income (+220%) Outpaced OCF (-6.4%) With +39.2% Working-Capital Build

CASH CONVERSION GAP

+226.4% (NI vs OCF)

RECEIVABLES / WC BLOAT

+39.2% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on EquipmentShare.com Inc (EQPT) exposes a +226.4% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (-6.4%). Non-cash current assets and receivables expanded +39.2% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

EQPT // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -18.19%▼ DESCENDING CHANNEL

2026-10-30O $17.93H $17.93L $16.55C $17.18VOL 3.81M

RES: $19.05SUP: $11.70SMA50: $17.32SMA200: $21.62

EQPT // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

UNDERWEIGHT CONVICTION: 28/100

BEAR 0

100 BULL

EquipmentShare.com Inc (EQPT) exhibits 60.7% gross margins and 6.7% return on invested capital within Consumer Discretionary (Diversified Commercial Services), balanced against a 20.2x enterprise multiple and 7.3% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 60.7% gross profitability converts into 14.6% operating margin and 6.7% ROIC, outpacing sector cost of capital.

ROIC: 6.7% // GM: 60.7%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +3.2% paired with 3.74% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +3.2% // FCF YLD: 3.74%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 1.22 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.

ALTMAN Z: 1.22 // F-SCORE: 7/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 115.2x trailing P/E (107.1x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 115.2x // EV/EBITDA: 20.2x

02. Options Skew & Event Volatility Risk

Options market prices a ±7.3% implied move with a 0.65 put/call ratio around $18.00 max pain.

IMPL MOVE: ±7.3% // P/C: 0.65

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Diversified Commercial Services require continuous execution to defend 2.0% net margins.

NET MARGIN: 2.0% // D/E: 6.19x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 107.1x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 1.12).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 115.2x

FORWARD P/E 107.1x

EV / EBITDA 20.2x

FCF YIELD 3.74%

GROSS MARGIN 60.7%

OPERATING MARGIN 14.6%

NET MARGIN 2.0%

ROIC % 6.7%

REV GROWTH YOY +3.2%

DILUTED EPS TTM $0.16

DEBT / EQUITY 6.19x

DIVIDEND YIELD 0.80%

RSI-14 MOMENTUM 52.2

5Y EQUITY BETA 1.12

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // EQPTPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $16.64

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for EQPT & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>

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