EFN FINANCIAL STATEMENTS

Element Fleet Management Corp — balance sheet, income statement and cash flow trends

EFNElement Fleet Management Corp

🇨🇦 Canada · TO · Industrials · Rental & Leasing Services

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue2.4 B $+7.0%

Gross Profit1 B $-48.9%

Operating Income1 B $-38.2%

EBITDA1.6 B $+21.5%

Net Income292.5 M $-26.2%

Peer Comparison· Rental & Leasing Services

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
EFN	7.0%	43.6%	66.2%	12.4%
CAR	0.7%	25.6%	41.0%	-5.7%
GATX	16.9%	47.6%	53.1%	17.9%
WSC	-4.1%	48.4%	21.2%	-3.0%
HRI	28.4%	29.2%	23.5%	-0.1%
R	-0.4%	20.3%	26.1%	3.9%
Industry median	2.8%	26.9%	29.3%	0.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
EFN	7.0%	43.6%	66.2%	12.4%
EIF	27.5%	24.5%	22.7%	5.4%
AC	3.3%	31.1%	16.1%	3.5%
STN	30.9%	42.9%	13.8%	6.2%
TFII	1.6%	12.0%	14.7%	3.8%
CAE	4.4%	28.3%	20.6%	6.4%
Industry median	2.8%	26.9%	29.3%	0.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity2.7 B $20%
Long-term Liabilities10.9 B $80%

Key Figures

YoY change

Total Assets13.6 B $+2.1%

Total Liabilities10.9 B $+3.1%

Total Equity2.7 B $-1.8%

Cash & ST Investments662.8 M $+33.1%

Total Debt9.7 B $+4.4%

Net Debt9 B $+2.8%

Peer Comparison· Rental & Leasing Services

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
EFN	-1,554.01	358.1%	5.75	19.9%
CAR	0.74	-810.3%	5.63	-11.2%
GATX	1.09	454.6%	11.78	15.5%
WSC	0.79	438.3%	7.89	15.0%
HRI	1.46	508.1%	8.77	14.0%
R	0.68	305.0%	2.58	17.6%
Industry median	1.19	106.7%	5.32	23.4%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
EFN	-1,554.01	358.1%	5.75	19.9%
EIF	1.64	141.0%	3.03	32.8%
AC	0.60	452.2%	1.52	8.2%
STN	1.35	76.7%	2.05	42.0%
TFII	1.07	119.6%	2.37	35.5%
CAE	0.96	61.0%	2.64	47.6%
Industry median	1.19	106.7%	5.32	23.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow388.3 M $+76.1%

Capital Expenditures272.1 M $+194.5%

Free Cash Flow116.2 M $-9.2%

Dividends Paid-178.5 M $-187.9%

Peer Comparison· Rental & Leasing Services

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
EFN	16.4%	4.9%	11.5%	132.8%
CAR	26.5%	-13.0%	154.9%	-466.4%
GATX	38.0%	-253.4%	291.4%	212.5%
WSC	32.9%	25.5%	7.4%	-1,098.9%
HRI	26.3%	3.2%	23.1%	-24,500.0%
R	19.9%	3.8%	16.1%	511.3%
Industry median	25.7%	3.2%	16.2%	65.3%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
EFN	16.4%	4.9%	11.5%	132.8%
EIF	19.9%	-1.9%	21.8%	367.2%
AC	17.1%	5.4%	11.7%	494.8%
STN	9.6%	8.6%	1.0%	155.0%
TFII	11.8%	8.4%	3.5%	312.2%
CAE	15.5%	9.4%	6.1%	242.8%
Industry median	25.7%	3.2%	16.2%	65.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.