A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
UNITED RENTALS, INC.
URI
$73.7B
Mkt Cap
$1,141.59
+0.16%
UNITED RENTALS, INC. (URI) has a current P/E ratio of 29.6, 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 13.8%. This indicates solid capital allocation.
UNITED RENTALS, INC. (URI) has a market capitalization of $71.6B. It is classified as a large-cap stock.
Yes, UNITED RENTALS, INC. (URI) pays a dividend with a trailing twelve-month yield of 0.66%. The company also returns capital through share buybacks, with a buyback yield of 2.93%.
Based on historical P/E analysis, UNITED RENTALS, INC. (URI) appears expensive. The current P/E of 29.6 is 85% 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 is the world's largest equipment rental company, operating throughout North America with smaller presence in Europe, Australia and New Zealand. The company generates revenue primarily through equipment rental (86% of total revenues in 2025), serving three principal end-markets: industrial and other non-construction (48% of rental revenue), commercial construction (48%), and residential construction (4%). The business model is asset-intensive, with a fleet of approximately 1.1 billion dollars in original equipment cost managed through a life-cycle approach focused on customer demand and utilization optimization. United Rentals operates through a national account program targeting customers with annual equipment rental spend of at least $500,000 or multi-state operations, supplemented by local market rentals and specialty services including aerial work platforms, power and HVAC equipment, trench safety, fluid solutions, and surface protection mats. The company's competitive advantages include its large and diverse rental fleet (the largest in the industry), significant purchasing power with vendors, a national account sales force, and proprietary software (Total Control®) that enables key customers to manage all equipment needs through a single platform. Distribution occurs through 1,768 rental locations across North America, supported by 28,500 employees, with no single customer representing more than 1% of revenues, indicating a highly diversified customer base.
【Strong project-driven growth continuing】 Management expects 2026 to deliver another year of profitable growth with total revenue growth ex used of approximately 6% at midpoint, supported by large dispersed projects and strong customer sentiment. The company anticipates most growth will be led by large projects and specialty services expansion, with the demand construct expected to be similar to 2025. Management is implementing cost actions to offset inflationary pressures and repositioning costs while targeting flat margins at the midpoint, and expects to achieve positive fleet productivity above 1.5% to outpace inflation. The company plans to return approximately $2 billion to shareholders in 2026 through $1.5 billion in share repurchases and a 10% dividend increase, reflecting confidence in cash generation and capital efficiency.
| Metric | Target | Period |
|---|---|---|
| Total revenue | $16.9–$17.4 billion | FY2026 |
| Adjusted EBITDA | $7.625–$7.875 billion | FY2026 |
| Gross rental CapEx | $4.4–$4.8 billion | FY2026 |
| Net CapEx | $2.95–$3.35 billion | FY2026 |
| Share repurchases | $1.5 billion | FY2026 |
| Dividend increase | 10% | FY2026 |
Total revenue (FY2026): “Total revenue is now expected in the range of $16.9-$17.4 billion, an increase of $100 million versus our initial guidance.”
Adjusted EBITDA (FY2026): “we've also raised our Adjusted EBITDA guidance by $50 million to a range of $7.625-$7.875 billion.”
Gross rental CapEx (FY2026): “we've increased our gross CapEx guidance by $100 million to a range of $4.4-$4.8 billion, reflecting the stronger demand we see.”
Net CapEx (FY2026): “This now implies net CapEx of $2.95-$3.35 billion.”
Share repurchases (FY2026): “we plan to repurchase $1.5 billion of shares in 2026”
Dividend increase (FY2026): “to increase our quarterly dividend by 10%, reflecting our third consecutive annual increase since introducing our dividend in 2023.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q1 FY2025 Earnings Call, Q4 FY2024 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16.4B | 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 | $39.46 | $38.61 | $38.69 | $35.28 | $29.65 | $19.04 |
| Free Cash Flow | 0 | 5.2B | 416M | 840M | 743M | 491M |
| ROIC | 13.3% | 13.3% | 15.1% | 15.0% | 14.3% | 11.5% |
| Gross Margin | 38.2% | 38.2% | 40.1% | 40.6% | 42.9% | 39.7% |
| Debt/Equity | 1.55 | 1.75 | 1.72 | 1.56 | 1.73 | 1.75 |
| Dividends/Share | $7.51 | $7.16 | $6.52 | $5.92 | $0.00 | $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 | 28.0% | 28.4% | 30.7% | 31.9% | 32.3% | 26.3% |
| Shares Outstanding | 63M | 65M | 67M | 69M | 71M | 73M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.7B | 5.8B | 5.8B | 6.6B | 8.0B | 9.4B | 8.5B | 9.7B | 11.6B | 14.3B | 15.3B | 16.1B | 16.4B |
| Gross Margin | 42.8% | 42.6% | 41.7% | 41.7% | 41.8% | 39.2% | 37.3% | 39.7% | 42.9% | 40.6% | 40.1% | 38.2% | 38.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 758M | 714M | 719M | 903M | 1.0B | 1.1B | 979M | 1.2B | 1.4B | 1.5B | 1.6B | 1.7B | 1.7B |
| EBIT | 1.4B | 1.5B | 1.4B | 1.5B | 2.0B | 2.2B | 1.8B | 2.3B | 3.2B | 3.8B | 4.1B | 4.0B | 4.0B |
| Op. Margin | 24.5% | 26.1% | 24.6% | 22.7% | 24.2% | 23.0% | 21.1% | 23.4% | 27.8% | 26.7% | 26.5% | 24.7% | 24.7% |
| Net Income | 540M | 585M | 566M | 1.3B | 1.1B | 1.2B | 890M | 1.4B | 2.1B | 2.4B | 2.6B | 2.5B | 2.5B |
| Net Margin | 9.5% | 10.1% | 9.8% | 20.3% | 13.6% | 12.6% | 10.4% | 14.3% | 18.1% | 16.9% | 16.8% | 15.5% | 15.3% |
| Non-Recurring | 12M | 14M | 18M | 54M | 37M | 29M | 61M | 26M | 9.0M | 49M | 20M | 19M | 45M |
| Returns on Capital | |||||||||||||
| ROIC | 9.6% | 9.7% | 9.5% | 14.1% | 10.6% | 10.8% | 9.7% | 11.5% | 14.3% | 15.0% | 15.1% | 13.3% | 13.3% |
| ROE | 29.8% | 35.8% | 36.2% | 56.6% | 33.7% | 32.5% | 21.3% | 26.3% | 32.3% | 31.9% | 30.7% | 28.4% | 28.0% |
| ROA | 4.7% | 4.8% | 4.7% | 10.0% | 6.6% | 6.3% | 4.8% | 7.3% | 9.5% | 9.7% | 9.6% | 8.6% | 8.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.8B | 2.0B | 1.9B | 2.2B | 2.9B | 3.0B | 2.7B | 3.7B | 4.4B | 4.7B | 4.5B | 5.2B | 5.3B |
| Free Cash Flow | 1.7B | 1.9B | 1.8B | 2.1B | 2.7B | 2.8B | 2.5B | 491M | 743M | 840M | 416M | 5.2B | 0 |
| Owner Earnings | 533M | 702M | 651M | 1.6B | 2.1B | 2.3B | 2.2B | 3.2B | 3.9B | 4.2B | 4.0B | 4.6B | 4.7B |
| CapEx | 120M | 102M | 93M | 120M | 185M | 218M | 197M | 3.2B | 3.7B | 3.9B | 4.1B | 0 | 0 |
| Maint. CapEx | 1.2B | 1.2B | 1.2B | 537M | 613M | 708M | 387M | 372M | 364M | 431M | 437M | 438M | 438M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.8B | 3.3B | 3.4B | 3.7B | N/A | 0 |
| D&A | 1.2B | 1.2B | 1.2B | 537M | 613M | 708M | 387M | 372M | 364M | 431M | 437M | 438M | 438M |
| CapEx/OCF | 6.7% | 5.1% | 4.8% | 5.4% | 6.5% | 7.2% | 7.4% | 86.7% | 83.2% | 82.1% | 90.8% | 7.3% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 406M | 434M | 464M | 471M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.4% | 0.9% | 0.9% | 0.7% |
| Share Buybacks | 613M | 789M | 528M | 56M | 817M | 870M | 286M | 34M | 1.1B | 1.1B | 1.6B | 2.0B | 2.1B |
| Buyback Yield | 5.7% | 11.7% | 5.9% | 0.4% | 10.0% | 6.9% | 1.8% | 0.1% | 4.4% | 2.7% | 3.3% | 3.7% | 2.9% |
| Stock-Based Comp | 74M | 49M | 45M | 87M | 102M | 61M | 70M | 119M | 127M | 94M | 112M | 134M | 134M |
| Debt Repayment | 6.3B | 8.5B | 9.2B | 10.2B | 9.9B | 9.7B | 11.2B | 8.5B | 8.2B | 8.6B | 9.9B | 10.5B | 10.5B |
| Balance Sheet | |||||||||||||
| Net Debt | 7.8B | 8.0B | 7.5B | 9.1B | 11.7B | 12.1B | 10.2B | 10.4B | 12.1B | 12.3B | 14.3B | 15.2B | 13.7B |
| Cash & Equiv. | 158M | 179M | 312M | 352M | 43M | 52M | 202M | 144M | 106M | 363M | 457M | 459M | 156M |
| Long-Term Debt | 7.3B | 7.6B | 7.2B | 8.7B | 10.8B | 10.4B | 9.0B | 8.8B | 11.2B | 10.1B | 12.2B | 12.7B | 12.3B |
| Debt/Equity | 4.43 | 5.53 | 4.73 | 3.04 | 3.45 | 3.17 | 2.29 | 1.75 | 1.73 | 1.56 | 1.72 | 1.75 | 1.55 |
| Interest Coverage | N/A | N/A | 3.4 | 4.2 | 4.3 | 3.7 | 3.7 | 5.8 | 8.0 | 6.2 | 6.0 | 5.7 | 5.7 |
| Equity | 1.8B | 1.5B | 1.6B | 3.1B | 3.4B | 3.8B | 4.5B | 6.0B | 7.1B | 8.1B | 8.6B | 9.0B | 9.0B |
| Total Assets | 12.1B | 12.1B | 12.0B | 15.0B | 18.1B | 19.0B | 17.9B | 20.3B | 24.2B | 25.6B | 28.2B | 29.9B | 29.9B |
| Total Liabilities | 10.3B | 10.6B | 10.3B | 11.9B | 14.7B | 15.1B | 13.3B | 14.3B | 17.1B | 17.5B | 19.5B | 20.9B | 20.9B |
| Intangibles | 1.1B | 905M | 742M | 875M | 1.1B | 895M | 648M | 615M | 452M | 670M | 663M | 477M | 547M |
| Retained Earnings | 503M | 1.1B | 1.7B | 3.0B | 4.1B | 5.3B | 6.2B | 7.6B | 9.7B | 11.7B | 13.8B | 15.8B | 16.3B |
| Working Capital | -180M | 61M | 177M | 104M | -355M | -356M | 127M | -452M | 278M | -704M | -74M | -211M | -816M |
| Current Assets | 1.3B | 1.3B | 1.4B | 1.8B | 1.8B | 1.8B | 2.0B | 2.2B | 2.7B | 2.9B | 3.2B | 3.6B | 3.3B |
| Current Liabilities | 1.5B | 1.2B | 1.2B | 1.7B | 2.1B | 2.2B | 1.9B | 2.6B | 2.4B | 3.6B | 3.3B | 3.8B | 4.1B |
| Per Share Data | |||||||||||||
| EPS | 5.15 | 6.07 | 6.45 | 15.73 | 13.12 | 15.11 | 12.20 | 19.04 | 29.65 | 35.28 | 38.69 | 38.61 | 39.46 |
| Owner EPS | 5.08 | 7.28 | 7.42 | 18.52 | 25.59 | 29.02 | 30.17 | 43.93 | 55.53 | 60.82 | 60.06 | 71.49 | 75.04 |
| Book Value | 17.13 | 15.32 | 18.78 | 36.30 | 40.74 | 49.29 | 62.30 | 82.30 | 99.47 | 118.33 | 129.55 | 138.83 | 142.96 |
| Cash Flow/Share | 17.18 | 20.70 | 22.12 | 25.82 | 34.15 | 38.92 | 36.44 | 50.68 | 62.44 | 68.46 | 68.30 | 80.35 | 46.95 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 5.92 | 6.52 | 7.16 | 7.51 |
| Shares Out. | 104.9M | 96.4M | 87.8M | 85.6M | 83.5M | 77.7M | 73.0M | 72.8M | 71.0M | 68.7M | 66.6M | 64.6M | 62.7M |
| Valuation | |||||||||||||
| P/E Ratio | 19.9 | 11.5 | 15.9 | 10.6 | 7.5 | 10.8 | 18.0 | 16.9 | 11.5 | 16.1 | 18.3 | 21.4 | 28.9 |
| P/FCF | 6.4 | 3.6 | 4.9 | 6.9 | 3.1 | 4.5 | 6.5 | 47.8 | 32.5 | 46.4 | 113.4 | 10.3 | N/A |
| EV/EBIT | 13.7 | 10.0 | 11.9 | 15.8 | 10.6 | 11.9 | 14.7 | 15.1 | 11.2 | 13.6 | 15.2 | 17.5 | 21.1 |
| Price/Book | 6.0 | 4.6 | 5.5 | 4.6 | 2.4 | 3.3 | 3.5 | 3.9 | 3.4 | 4.8 | 5.5 | 6.0 | 8.0 |
| Price/Sales | 1.8 | 1.3 | 1.1 | 1.6 | 1.5 | 1.0 | 1.3 | 2.3 | 1.8 | 2.0 | 3.0 | 3.1 | 4.4 |
| FCF Yield | 15.6% | 28.0% | 20.5% | 14.6% | 32.6% | 22.2% | 15.4% | 2.1% | 3.1% | 2.2% | 0.9% | 9.7% | N/A |
| Market Cap | 10.7B | 6.7B | 9.0B | 14.3B | 8.2B | 12.7B | 16.0B | 23.5B | 24.1B | 39.0B | 47.2B | 53.4B | 71.6B |
| Avg. Price | 97.13 | 79.29 | 69.57 | 121.60 | 149.26 | 124.45 | 153.91 | 312.58 | 299.58 | 417.59 | 699.41 | 775.32 | 1,141.59 |
| Year-End Price | 102.46 | 70.03 | 102.63 | 167.49 | 98.08 | 162.86 | 219.35 | 322.34 | 340.03 | 567.11 | 708.59 | 826.08 | 1,141.59 |
UNITED RENTALS, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
UNITED RENTALS, INC. trades at 29.6x 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 15.3x vs a median of 6.9x. The company's 5-year average ROIC is 13.8% with a gross margin of 40.3%. Total shareholder yield (dividends + buybacks) is 3.6%. At current prices, the estimated annualized return to fair value is -9.3%.
UNITED RENTALS, INC. (URI) has a net profit margin of 15.5%. This is a healthy margin.
UNITED RENTALS, INC. (URI) generated $5.2 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 1.75. 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.
Based on recent SEC filings and earnings disclosures, Management expects 2026 to deliver another year of profitable growth with total revenue growth ex used of approximately 6% at midpoint, supported by large dispersed projects and strong customer sentiment. The company anticipates most growth will be led by large projects and specialty services expansion, with the demand construct expected to be similar to 2025. Management is implementing cost actions to offset inflationary pressures and repositioning costs while targeting flat margins at the midpoint, and expects to achieve positive fleet productivity above 1.5% to outpace inflation. The company plans to return approximately $2 billion to shareholders in 2026 through $1.5 billion in share repurchases and a 10% dividend increase, reflecting confidence in cash generation and capital efficiency.
Based on recent SEC filings and earnings calls, UNITED RENTALS, INC. (URI) has provided the following forward guidance: Total revenue: $16.9–$17.4 billion (FY2026); Adjusted EBITDA: $7.625–$7.875 billion (FY2026); Gross rental CapEx: $4.4–$4.8 billion (FY2026); Net CapEx: $2.95–$3.35 billion (FY2026); Share repurchases: $1.5 billion (FY2026), plus 1 additional metric.