United Rentals (URI)
Industrials · $65.4B market cap · SEC CIK 0001067701
fundamentals score out of 100
Next reports on Oct 20, 2026, after the close, with analysts expecting $14.06 in earnings per share.
The case for URI
- Earns 29% back on shareholder equity.
- Has compounded revenue at 13.6% a year over five years.
- Pays a modest 1.3% dividend.
The case against
- Swings harder than the market (beta 1.85).
- A PEG of 3.2: a P/E of 24.8× is a lot to pay for EPS growing 8%.
- Current liabilities exceed current assets (ratio 0.76).
- Long-term debt of $14.3B against $459M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 49 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 69 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 62 |
| Momentumhow the price has behaved lately | 57 |
| Stabilityhow violently it moves, what it owes and what it pays you | 31 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 24.8× |
|---|---|
| Price / book | 7.69× |
| Price / sales | 3.9× |
| Revenue growth (YoY) | +6.9% |
| EPS growth (YoY) | +7.7% |
| Gross margin | 38% |
| Operating margin | 25% |
| Net margin | 16% |
| Return on equity | 29% |
| Debt / equity | 1.54× |
| Current ratio | 0.76 |
| Dividend yield | 1.27% |
| Beta | 1.85 |
| 52-week range | $701.59 – $1,179 |
| Position in that range | 71% of the way up |
| 3-month return | -4.4% |
| 1-year return | +9.4% |
Five years of financials, as filed
Pulled from United Rentals's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.7B | $3.6B | $3.4B | $2.5B | $2.3B |
| Gross profit | $6.1B | $6.2B | $5.8B | $5.0B | $3.9B |
| Operating income | $4.0B | $4.1B | $3.8B | $3.2B | $2.3B |
| Net income | $2.5B | $2.6B | $2.4B | $2.1B | $1.4B |
| Operating cash flow | $5.2B | $4.5B | $4.7B | $4.4B | $3.7B |
| Capital expenditure | — | $4.1B | $3.9B | $3.7B | $3.2B |
| Total assets | $29.9B | $28.2B | $25.6B | $24.2B | $20.3B |
| Total liabilities | $20.9B | $19.5B | $17.5B | $17.1B | $14.3B |
| Shareholder equity | $9.0B | $8.6B | $8.1B | $7.1B | $6.0B |
| Cash | $459M | $457M | $363M | $106M | $144M |
| Long-term debt | $14.3B | $13.5B | $11.6B | $11.4B | $9.8B |
| Free cash flow | — | $416M | $840M | $743M | $491M |
| Gross margin | 166.3% | 171.4% | 171.2% | 199.8% | 170.8% |
| Operating margin | 107.5% | 113.3% | 112.7% | 129.2% | 100.9% |
| Net margin | 67.5% | 71.8% | 71.4% | 84.2% | 61.4% |
| Diluted shares | 64.6M | 66.6M | 68.7M | 71.0M | 72.8M |
Share count is down 11.3% over 4 years. Buybacks have been shrinking the pie.
What United Rentals says it does
United Rentals is the largest equipment rental company in the world, operates throughout the United States and Canada, and has a smaller presence in Europe, Australia and New Zealand. The table below presents key information about our business as of and for the years ended December 31, 2025 and 2024. Our business is discussed in more detail below. The data below should be read in conjunction with, and is qualified by reference to, our Management’s Discussion and Analysis and our consolidated financial statements and notes thereto contained elsewhere in this report. 1 Table of Contents 2025 2024 PERFORMANCE MEASURES Total revenues (in millions) $16,099 $15,345 Equipment rental revenue percent of total revenues 86% 85% Equipment rental revenue variance components: Year-over-year change in average original equipment cost ("OEC") 3.9% 3.5% Assumed year-over-year inflation impact (1) (1.5)% (1.5)% Fleet productivity (2) 2.2% 4.1%…
Risk factors URI lists in its 10-K
- A consistently superior standard of service to customers
- The further optimization of our customer mix and fleet mix, with a dual objective
- A continued focus on "Lean" management techniques, including kaizen processes focused on continuous improvement
- The continued expansion and cross-selling of adjacent specialty and services products, which enables us to provide a "one-stop" shop for our customers
- The pursuit of strategic acquisitions to continue to expand our core equipment rental business,
- Contribution to net income (after-tax)
- Impact on diluted earnings per share
- Useful Lives and Salvage Values of Rental Equipment and Property and Equipment
- Impairment of Long-lived Assets (Excluding Goodwill)
- Segment Equipment Rentals Gross Profit
- SG&A expense as a percentage of revenue
- Non-rental depreciation and amortization
- Accounts receivable securitization facility (2)
- Net cash provided by operating activities