Ashtead Group PLC
AHT: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 9,497.00 | Lkjg | Rgkpdzffgy |
Ashtead Earnings: Rental Revenue Growth Continues to Benefit From Structural Tailwinds
No-moat Ashtead reported 7% rental revenue growth in its first-quarter 2025 results, benefiting from the ongoing increase in rental equipment adoption rates as well as healthy demand from major construction projects in the US. First-quarter revenue was marginally below FactSet consensus underpinned by fewer used equipment sales, which tends to be volatile. Full-year guidance of rental revenue growth between 5% and 8% was unchanged. Shares screen as fairly valued to our GBX 5,300 fair value estimate, which we maintain.