A Business at a Glance
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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. PERFORMANCE MEASURES Total revenues (in millions)$16,099$15,345 Equipment rental revenue percent of total revenues86%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% Contribution from ancillary and re-rent revenue (3)1.4%1.9% Total equipment rental revenue variance6.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16.1B | 16.1B | 15.3B | 14.3B | 11.6B | 9.7B |
| Net Income | 2.5B | 2.5B | 2.6B | 2.4B | 2.1B | 1.4B |
| EPS | $38.61 | $38.61 | $38.69 | $35.28 | $29.65 | $19.04 |
| Free Cash Flow | 4.8B | 4.8B | 416M | 840M | 743M | 491M |
| ROIC | 11.7% | 12.6% | 13.2% | 13.6% | 12.8% | 10.1% |
| Gross Margin | 38.2% | 38.2% | 40.1% | 40.6% | 42.9% | 39.7% |
| Debt/Equity | 1.89 | 1.89 | 1.82 | 1.71 | 1.72 | 1.87 |
| Dividends/Share | $7.18 | $7.16 | $6.52 | $5.92 | $0.00 | - |
| Operating Income | 4.0B | 4.0B | 4.1B | 3.8B | 3.2B | 2.3B |
| Operating Margin | 24.7% | 24.7% | 26.5% | 26.7% | 27.8% | 23.4% |
| ROE | 27.8% | 28.4% | 29.9% | 29.8% | 29.8% | 23.1% |
| Shares Outstanding | 65M | 65M | 67M | 69M | 71M | 73M |
UNITED RENTALS, INC. passes 6 of 9 quality checks, suggesting mixed fundamentals.
UNITED RENTALS, INC. trades at 20.2x trailing earnings, compared to its 15-year median P/E of 16.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 10.2x vs a median of 6.9x. The company's 5-year average ROIC is 12.4% with a gross margin of 40.3%. Total shareholder yield (dividends + buybacks) is 4.8%. At current prices, the estimated annualized return to fair value is +15.2%.
UNITED RENTALS, INC. (URI) has a current P/E ratio of 20.2, compared to its historical median P/E of 16.0. The stock is currently considered Expensive based on its historical valuation range.
UNITED RENTALS, INC. (URI) has a 5-year average return on invested capital (ROIC) of 12.4%. This indicates solid capital allocation.
UNITED RENTALS, INC. (URI) has a market capitalization of $50.4B. It is classified as a large-cap stock.
Yes, UNITED RENTALS, INC. (URI) pays a dividend with a trailing twelve-month yield of 0.92%. The company also returns capital through share buybacks, with a buyback yield of 3.91%.
Based on historical P/E analysis, UNITED RENTALS, INC. (URI) appears expensive. The current P/E of 20.2 is 26% above its historical median of 16.0. The estimated fair value CAGR (P/E method) is 21.7%.
UNITED RENTALS, INC. (URI) operates in the Services-Equipment Rental & Leasing, Nec industry, within the Industrials sector.
UNITED RENTALS, INC. (URI) reported annual revenue of $16.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
UNITED RENTALS, INC. (URI) has a net profit margin of 15.5%. This is a healthy margin.
UNITED RENTALS, INC. (URI) generated $4.8 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
UNITED RENTALS, INC. (URI) has a debt-to-equity ratio of 1.89. This indicates higher leverage, which may increase financial risk.
UNITED RENTALS, INC. (URI) reported earnings per share (EPS) of $38.61 in its most recent fiscal year.
UNITED RENTALS, INC. (URI) has a return on equity (ROE) of 28.4%. This indicates the company generates strong returns for shareholders.
UNITED RENTALS, INC. (URI) has a 5-year average gross margin of 40.3%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for UNITED RENTALS, INC. (URI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
UNITED RENTALS, INC. (URI) has a book value per share of $138.83, based on its most recent annual SEC filing.