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Element Fleet Management Corp (EFN) fair value: what the stock is really worth

As of Nov 12, 2026: fair value (intrinsic value) of Element Fleet Management Corp stock C$21.81, price C$19.57, upside +11.4%, quality 47 out of 100. Rating: undervalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials CA · ISIN CA2861812014

EF Element Fleet Management Corp logo Some data Nov 11, 2026

Element Fleet Management Corp

EFN · TO

Only slightly cheap (10% below fair value), weak company and falling price: meets none of the 3 rules.

Get notified free when this changes
Fair value C$21.81 · Undervalued 
Solidly profitable · 12.0% net margin (TTM) 
Recent news mostly positive 
Quality 47/100 
Expensive Growth (revenue 5y +15.1 %/yr in USD) 
2.7% dividend yield · Watch coverage
Moderate moat 58/100 · thin data
Some data 
Falling price (downtrend) 
High debt 
Negative free cash flow 
Trails peers (4/14) 

Main risks:

🚩Rivals with EV-centric or flexible models🚩Dependence on vehicle manufacturers
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

C$37.34 C$10.06 Fair Value C$21.81 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 11, 2026.

How to read this chart

60‑month range C$10.06 – C$37.34 · fair‑value band C$12.39 – C$29.67 · the C$19.57 price screens below the C$21.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 11, 2026.

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Company profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. The company offers end-to-end fleet solutions, including cars, trucks, and material handling support equipment ordering support.

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It also provides fleet management solutions, such as vehicle acquisition, maintenance, risk management, route optimization, electric vehicle integration, and remarketing services.

In addition, it manages the rental process for extra equipment or other assets, ranging from forklifts to storage trailers, and coordinates delivery and pickup.

Further, the company offers other services, including fleet vehicle remarketing, an advance purchase program, Element Energy Solutions, and fleet financing services, which comprise operating and capital leases, sale and leaseback funding, open-end terminal rental adjustment clause (TRAC) leases, and a client-owned acquisition program.

Additionally, it provides title, licensing, and registration services; end-to-end telematics services; driver training programs and other safety services; and insurance coverage solutions, including subrogation, driver safety programs, and telematics, as well as accident management services, including vehicle repair for cars, light-duty vehicles, and medium-duty trucks.

It is involved in tolls and violations processing, regulation compliance, fuel services, managed maintenance, and personal usage and expense tracking. The company provides Autofleet, a suite of software solutions for transportation services for fleets and mobility operators.

Element Fleet Management Corp. is based in Toronto, Canada.

Stock analysis

Element Fleet Management Corp (EFN) currently trades at C$19.57, while our model-based Fair Value estimate is C$21.81, implying the stock looks roughly 10% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of C$84.30 per share, and 8 of the 14 models we run sit above the C$19.57 price.

Bear case: the Asset-Based group reads lowest at C$3.67, and 6 of the 14 models stay below the price. Data coverage for this calculation is medium.

Scenario range: C$12.39 (bear) to C$29.67 (bull), the price of C$19.57 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Element Fleet Management Corp reported revenue of $2.3B in FY2025 versus $1.1B in FY2021, a compound +18.4%/yr. Reported net income was $284M in FY2025, compounding +0.4%/yr from FY2021.

Key figures

Market cap C$7.7B (≈ $5.4B) Mid · P/E ratio 18.8 · P/S ratio 2.37 · EPS (TTM) C$1.04 · Dividend yield 2.7% · Net margin 12.6% · Return on equity 10.8% · Return on assets (EBIT) 8.6% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (low confidence).

What moves the price

The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.

The share trades about 47% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at 11%, EFN screens cheaper than that median.

Fair Value models

Bear C$12.39 Fair Value C$21.81 Bull C$29.67
Price C$19.57 · Upside +11.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$0.4516 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income C$9.09 C$10.37 C$13.74 76
EPV n/a n/a C$1.75 68
ROIC Compounder n/a n/a C$1.75 68
All 16 models by family
DCF Models
Owner Earnings C$16.08 C$84.30 C$236.70 65
Earnings-Based
Graham-Dodd C$7.09 C$49.45 C$69.39 63
Lynch FV C$21.50 C$30.71 C$39.93 61
PEG = 1.0 C$21.50 C$30.71 C$39.93 57
EPV n/a n/a C$1.75 68
Dividend Discount
Gordon GGM C$7.74 C$17.25 C$29.80 65
DDM Multi-Stage C$7.74 C$13.96 C$17.92 66
Multiples
P/E Multiple C$16.42 C$21.90 C$27.37 63
P/S Multiple C$12.44 C$16.58 C$20.73 58
P/B Multiple C$9.56 C$12.75 C$15.94 55
EV/EBIT C$10.55 C$25.54 C$40.52 61
EV/EBITDA C$23.97 C$43.43 C$62.89 65
Asset-Based
NCAV (Graham) C$2.74 C$3.67 C$5.47 54
Economic Profit
Residual Income C$9.09 C$10.37 C$13.74 76
ROIC Compounder n/a n/a C$1.75 68
Growth Earnings
Growth-Adj P/E C$25.28 C$36.11 C$46.94 67

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Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 28
How much profit the company makes from its sales and capital
Quality Growth 42
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 12
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 82
How calm the share price moves, does not count
Price momentum 5
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 95
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.1%
Start year 2020 (pandemic). Over 10 years: +14.5% a year
Revenue growth 15 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+61.3%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.4%
Dividend (yield on the price)2.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.4% vs 5.7%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.68% → 43%
Pace: the 5-year rate starts in 2020 (pandemic)

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Recent news

News mood ⓘNews mood, the average tone of recent news (79 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.
Note from the team Oct 11, 2026
AI conclusion: The business draws strength from recurring service revenue and established Australia and New Zealand operations yet is limited by thin evidence of a durable moat plus high leverage and negative cash flow.
Main risk: Competitors such as Merchants Fleet with EV-centric flexible leases or telematics providers like Geotab and Samsara could win national account RFPs or disintermediate services, squeezing Element's margins on maintenance and analytics.
Bull case: Element could leverage its scale, proprietary data and tools like DigiAdvisor to deliver superior predictive maintenance and EV advisory, retaining clients and expanding into autonomous mobility partnerships.
Bear case: If agile rivals capture share with innovative models or supply disruptions persist, Element might see slower organic growth in vehicles under management and reduced recurring service revenue from its core leasing and maintenance offerings.
Element has chosen to withdraw from the FleetPartners bidding process and instead prioritize organic growth along with its long-standing Australia and New Zealand operations. This keeps the focus on recurring service revenue and new mobility initiatives while avoiding a competitive deal that might not deliver strong enough returns. Will disciplined capital allocation and internal expansion prove more effective than larger acquisitions for sustaining performance?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Rental & Leasing Services · 87 stocks

Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +11.4% · Below median
Profitability
Return on equity (12 months) 10.8% · Above median
Return on assets 2.1% · Above median
Net margin (12 months) 12.0% · Above median
Operating margin (12 months) 47.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 3.1% · Below median
Dividend yield (12 months) 2.7% · Below median
Balance sheet
Debt / equity 3.57× · Highest 25%

Valuation Multiplesvs Rental & Leasing Services median · lower = cheaper

P/E (12 months) 18.8× · Pricier than median
P/B 2.00× · Pricier than median
P/S (12 months) 2.19× · Pricier than median
EV/EBITDA 12.2× · Priciest 25%
PEG 1.15× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)49 · sector 68
FUTURE (revenue growth)16 · sector 33
PAST (return on equity)43 · sector 31
HEALTH (low debt)0 · sector 63
DIVIDEND (yield)53 · sector 59

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Rental & Leasing Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
BOC Aviation Limited 2588 HK$78.90 HK$145.93 +85% vs EFN
AerCap Holdings AER $175.99 $198.34 +13% vs EFN
Sixt SE SIX2 €75.30 €74.96 +0% vs EFN
Bohai Leasing Co 000415 ¥4.59 ¥4.33 −6% vs EFN
Sunbelt Rentals Holdings SUNB $81.53 $65.76 −19% vs EFN
GATX Corporation GATX $189.30 $129.05 −32% vs EFN
Ryder System, Inc R $279.04 $161.31 −42% vs EFN
United Rentals, Inc URI $1,139 $436.95 −62% vs EFN
EquipmentShare.com Inc EQPT $15.43 $5.43 −65% vs EFN
U-Haul Holding UHAL $55.93 $8.90 −84% vs EFN

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Cite: Fair Value Calculator (2026). "Element Fleet Management Corp Fair Value". https://www.fairvalue-calculator.com/stock/EFN

Frequently asked questions

Is Element Fleet Management Corp (EFN) overvalued or undervalued?
As of Nov 11, 2026, our model estimates a fair value of C$21.81 versus a price of C$19.57, about +11% upside (undervalued).
What is the fair value of EFN?
Our model-based fair value for Element Fleet Management Corp is C$21.81 (as of Nov 11, 2026), built from audited fundamentals. The current price: C$19.57.
What is the quality score of EFN?
Element Fleet Management Corp has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Element Fleet Management Corp (EFN)?
Our model-based price target is the fair value of C$21.81 (as of Nov 11, 2026) from 16 valuation models. Cautious scenario C$12.39, optimistic scenario C$29.67. It is a calculation from audited fundamentals, not an analyst target.
What is the Element Fleet Management Corp stock forecast for 2026?
Our models put fair value at C$21.81, about +11% upside versus a price of C$19.57 (undervalued). Cautious scenario C$12.39, optimistic scenario C$29.67. The calculation is refreshed regularly with new filings.
What is the revenue of Element Fleet Management Corp (EFN)?
Element Fleet Management Corp reported trailing-twelve-month revenue of about $2.5B (latest available figure, as of Nov 11, 2026).
Does Element Fleet Management Corp pay a dividend?
Element Fleet Management Corp currently shows a dividend yield of 2.66% relative to its recent price (as of Nov 11, 2026).
How much is the dividend of Element Fleet Management Corp (EFN) and when is the ex-dividend date?
Element Fleet Management Corp pays a dividend of C$0.52 per share a year, a dividend yield of 2.7%. The next ex-dividend date is Dec 31, 2026. A dividend has been paid every year since at least 2015. The payout ratio is 49.9% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Element Fleet Management Corp (EFN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Element Fleet Management Corp it is C$21.81 per share (as of Nov 11, 2026), against a price of C$19.57. It is the blended result of 16 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Element Fleet Management Corp stock overvalued or undervalued in 2026?
As of Nov 11, 2026, EFN trades below its calculated fair value: price C$19.57, fair value C$21.81, a gap of about +11% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EFN?
No. The price is what the market pays today (C$19.57); the fair value is what the company's own numbers justify (C$21.81). For Element Fleet Management Corp the two are C$2.24 per share apart. That gap is exactly why we show both numbers side by side.
How much is Element Fleet Management Corp worth?
The market values Element Fleet Management Corp at about C$7.7B (market capitalisation, as of Nov 11, 2026). Per share that is C$19.57; our models calculate a fair value of C$21.81 per share.
What do the bullish and bearish scenarios say about EFN?
Our models span a range for Element Fleet Management Corp: cautious scenario C$12.39, base C$21.81, optimistic C$29.67 per share (as of Nov 11, 2026, price C$19.57). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EFN?
Element Fleet Management Corp trades at a price-to-earnings ratio of 18.8 (as of Nov 11, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$21.81 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 21.1. Other multiples: PEG 1.2, P/B 2.0, P/S 2.2, EV/EBITDA 12.2.
What is the PEG ratio of EFN?
The PEG ratio of Element Fleet Management Corp is 1.15 (P/E divided by earnings growth, as of Nov 11, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Element Fleet Management Corp (EFN)?
Balance-sheet figures for Element Fleet Management Corp (as of Nov 11, 2026): return on equity 10.8%, debt of 3.57 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is EFN from its 52-week high?
Element Fleet Management Corp trades at C$19.57, about 47% below its 52-week high of C$37.05 and 1% above the low of C$19.46 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of C$21.81 is for.
Which stocks are comparable to Element Fleet Management Corp?
From the same area (Industrials) we also value United Rentals, Inc, Sunbelt Rentals Holdings, AerCap Holdings, U-Haul Holding, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Element Fleet Management Corp stock attractive at the current price?
The data as of Nov 11, 2026: price C$19.57, calculated fair value C$21.81 (+11%), Quality Score 47/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EFN calculated?
We run Element Fleet Management Corp through 16 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$21.81 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Element Fleet Management Corp currently trades 10% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Element Fleet Management Corp (EFN)?
The closing price on Nov 12, 2026 was C$19.57. Our model-based fair value is C$21.81, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Element Fleet Management Corp right now?
A fairly wide model range (C$12.39 to C$29.67) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Element Fleet Management Corp

How large is the market capitalisation of Element Fleet Management Corp (EFN)?
The market capitalisation of Element Fleet Management Corp is C$7.7B (≈ $5.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Element Fleet Management Corp (EFN)?
The price-to-sales ratio of Element Fleet Management Corp is 2.37 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Element Fleet Management Corp (EFN)?
Earnings per share at Element Fleet Management Corp are C$1.04 (price ÷ EPS = P/E 18.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Element Fleet Management Corp (EFN)?
The dividend yield of Element Fleet Management Corp is 2.7% (payout 50.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Element Fleet Management Corp (EFN)?
The net margin of Element Fleet Management Corp is 12.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Element Fleet Management Corp (EFN)?
The return on equity (ROE) of Element Fleet Management Corp is 10.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Element Fleet Management Corp (EFN)?
On an EBIT basis the return on assets of Element Fleet Management Corp is 8.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Element Fleet Management Corp (EFN)?
The operating margin of Element Fleet Management Corp is 47.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Element Fleet Management Corp (EFN)?
Revenue at Element Fleet Management Corp is growing +3.1% versus a year earlier (3y avg +15.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Element Fleet Management Corp (EFN)?
Earnings per share at Element Fleet Management Corp are growing +5.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Element Fleet Management Corp (EFN) generate?
The free cash flow of Element Fleet Management Corp is −$222M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Element Fleet Management Corp (EFN) carry?
The net debt of Element Fleet Management Corp is $9.4B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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