Benedict Eicher, founder of Flexcavo, discusses the balance sheet valuation of his company's heavy construction equipment rental fleet with Nathan Latka.
0:00 / 0:01exact quote · 1.0s
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“Way above ten million.”
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More from Benedict Eicher
Opinion
Eicher: Heavy machinery is the only reliable construction data source
“These machines are on a construction site, the only reliable data source.”
Benedict EicherApr 21, 2022▶ 1:56He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
Insight
Eicher: Software alone cannot win the construction market
“And if you want to be The number one partner for construction companies. Only code won't bring you far.”
Benedict EicherApr 21, 2022▶ 2:12He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
AssertionNot checkable as stated
Eicher: Construction companies typically own 60% and rent 40% of machinery
“And if you're a construction company, the typical split would be 60%, your own machines, 40% rented machines.”
Benedict EicherApr 21, 2022▶ 3:37He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
AssertionNot checkable as stated
Eicher: Flexcavo funds machines with debt at 1.5x to 3x coverage
“That facility is basically paid off by our machines. So we don't use equity to cross finance machines. We calculate basically on a debt coverage ratio and our machines have a typical debt coverage ratio between 1.5 and three X on depth. So the debt service is …”
Benedict EicherApr 21, 2022▶ 13:35He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
Insight
Eicher: Construction software churns if foremen reject it, despite CEO approval
“Because if you talk to the CFO, to the CEO, they might like the software. However, the real user of that is in the end, the foreman on a construction site. And you need to understand how they tick because if you simply sell a software in the after sales and cu…”
Benedict EicherApr 21, 2022▶ 15:00He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
AssertionNot checkable as stated
Eicher: Flexcavo owns over 400 machines and manages 10,000 client units
“Over 400 on our own fleet. However, we manage over 10,000 Pieces or units for our clients.”
Benedict EicherApr 21, 2022▶ 3:18He's Making $100k/mo Helping Construction Companies Rent out their Idle Pieces of Equipment
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