United Rentals (URI) Financials

$651.92 -5.81 (-0.88%)

Closing price 05/6/2025 03:59 PM Eastern

Extended Trading

$666.71 +14.79 (+2.27%)

As of 08:02 AM Eastern

Annual Income Statements for United Rentals

This table shows United Rentals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575
Consolidated Net Income / (Loss)	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575
Net Income / (Loss) Continuing Operations	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575
Total Pre-Tax Income	963	909	1,048	1,476	1,514	1,139	1,846	2,802	3,211	3,388
Total Operating Income	1,518	1,415	1,507	1,951	2,152	1,800	2,277	3,232	3,827	4,065
Total Gross Profit	2,480	2,403	2,769	3,364	3,670	3,183	3,853	4,996	5,813	6,150
Total Revenue	5,817	5,762	6,641	8,047	9,351	8,530	9,716	11,642	14,332	15,345
Operating Revenue	5,817	5,762	6,641	8,047	9,351	8,530	9,716	11,642	14,332	15,345
Total Cost of Revenue	3,337	3,359	3,872	4,683	5,681	5,347	5,863	6,646	8,519	9,195
Operating Cost of Revenue	3,337	3,359	3,872	4,683	5,681	5,347	5,863	6,646	8,519	9,195
Total Operating Expenses	962	988	1,262	1,413	1,518	1,383	1,576	1,764	1,986	2,085
Selling, General & Admin Expense	714	719	903	1,038	1,092	979	1,199	1,400	1,527	1,645
Depreciation Expense	268	255	259	308	407	387	372	364	431	437
Restructuring Charge	-20	14	100	67	19	17	5.00	0.00	28	3.00
Total Other Income / (Expense), net	-555	-506	-459	-475	-638	-661	-431	-430	-616	-677
Interest & Investment Income	-567	-511	-464	-481	-648	-669	-424	-445	-635	-691
Other Income / (Expense), net	12	5.00	5.00	6.00	10	8.00	-7.00	15	19	14
Income Tax Expense	378	343	-298	380	340	249	460	697	787	813
Basic Earnings per Share	$6.14	$6.49	$15.91	$13.26	$15.18	$12.24	$19.14	$29.77	$35.40	$38.82
Weighted Average Basic Shares Outstanding	95.17M	87.22M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Diluted Earnings per Share	$6.07	$6.45	$15.73	$13.12	$15.11	$12.20	$19.04	$29.65	$35.28	$38.69
Weighted Average Diluted Shares Outstanding	95.17M	87.22M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Weighted Average Basic & Diluted Shares Outstanding	95.17M	87.22M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	$5.92	$6.52

This table shows United Rentals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	606	639	451	591	703	679	542	636	708	689	518
Consolidated Net Income / (Loss)	606	639	451	591	703	679	542	636	708	689	518
Net Income / (Loss) Continuing Operations	606	639	451	591	703	679	542	636	708	689	518
Total Pre-Tax Income	816	895	594	772	943	902	695	835	949	909	688
Total Operating Income	921	1,024	740	925	1,099	1,063	852	1,004	1,122	1,087	804
Total Gross Profit	1,366	1,488	1,241	1,425	1,585	1,562	1,346	1,518	1,648	1,638	1,356
Total Revenue	3,051	3,296	3,285	3,554	3,765	3,728	3,485	3,773	3,992	4,095	3,719
Operating Revenue	3,051	3,296	3,285	3,554	3,765	3,728	3,485	3,773	3,992	4,095	3,719
Total Cost of Revenue	1,685	1,808	2,044	2,129	2,180	2,166	2,139	2,255	2,344	2,457	2,363
Operating Cost of Revenue	1,685	1,808	2,044	2,129	2,180	2,166	2,139	2,255	2,344	2,457	2,363
Total Operating Expenses	445	464	501	500	486	499	494	514	526	551	552
Selling, General & Admin Expense	356	378	382	378	374	393	389	404	416	436	437
Depreciation Expense	90	86	118	104	107	102	104	109	109	115	114
Restructuring Charge	-1.00	-	1.00	18	5.00	4.00	1.00	1.00	1.00	-	1.00
Total Other Income / (Expense), net	-105	-129	-146	-153	-156	-161	-157	-169	-173	-178	-116
Interest & Investment Income	-106	-132	-150	-161	-163	-161	-160	-173	-178	-180	-184
Other Income / (Expense), net	1.00	3.00	4.00	8.00	7.00	-	3.00	4.00	5.00	2.00	68
Income Tax Expense	210	256	143	181	240	223	153	199	241	220	170
Basic Earnings per Share	$8.69	$9.10	$6.50	$8.60	$10.30	$10.00	$8.06	$9.56	$10.73	$10.47	$7.92
Weighted Average Basic Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Diluted Earnings per Share	$8.66	$9.04	$6.47	$8.58	$10.29	$9.94	$8.04	$9.54	$10.70	$10.41	$7.91
Weighted Average Diluted Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Weighted Average Basic & Diluted Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Cash Dividends to Common per Share	-	-	$1.48	$1.48	$1.48	-	$1.63	$1.63	$1.63	-	$1.79

This table details how cash moves in and out of United Rentals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	21	133	22	-301	9.00	150	-58	-38	257	94
Net Cash From Operating Activities	1,995	1,941	2,209	2,853	3,024	2,658	3,689	4,433	4,704	4,546
Net Cash From Continuing Operating Activities	1,995	1,941	2,209	2,853	3,024	2,658	3,689	4,433	4,704	4,546
Net Income / (Loss) Continuing Operations	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575
Consolidated Net Income / (Loss)	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575
Depreciation Expense	1,244	1,245	1,383	1,671	2,038	1,988	1,983	2,217	2,781	2,903
Amortization Expense	10	9.00	9.00	12	15	14	13	13	14	15
Non-Cash Adjustments To Reconcile Net Income	-88	-118	-4.00	-137	-202	-110	-312	-463	-723	-662
Changes in Operating Assets and Liabilities, net	244	239	-525	211	-1.00	-124	619	561	208	-285
Net Cash From Investing Activities	-1,170	-847	-3,684	-4,551	-1,710	-223	-3,611	-5,016	-2,976	-4,148
Net Cash From Continuing Investing Activities	-1,170	-847	-3,684	-4,551	-1,710	-223	-3,611	-5,016	-2,976	-4,148
Purchase of Property, Plant & Equipment	-102	-93	-120	-185	-218	-197	-200	-254	-356	-374
Acquisitions	-86	-28	-2,377	-2,966	-249	-2.00	-1,436	-2,340	-574	-1,655
Purchase of Investments	-3.00	-2.00	-5.00	-3.00	-3.00	-3.00	0.00	-7.00	-4.00	-5.00
Sale of Property, Plant & Equipment	17	14	16	23	37	42	30	24	60	67
Other Investing Activities, net	-996	-738	-1,198	-1,420	-1,277	-63	-2,005	-2,439	-2,102	-2,181
Net Cash From Financing Activities	-775	-964	1,497	1,397	-1,305	-2,293	-140	552	-1,474	-274
Net Cash From Continuing Financing Activities	-775	-964	1,497	1,397	-1,305	-2,293	-140	552	-1,474	-274
Repayment of Debt	-8,509	-9,247	-10,251	-9,966	-9,706	-11,268	-8,470	-8,265	-8,574	-9,878
Repurchase of Common Equity	-789	-528	-56	-817	-870	-286	-34	-1,068	-1,070	-1,571
Payment of Dividends	-	-	-	-	-	-	0.00	0.00	-406	-434
Issuance of Debt	8,566	8,752	11,801	12,178	9,260	9,260	8,364	9,885	8,576	11,609
Effect of Exchange Rate Changes	-29	3.00	-	-	0.00	8.00	4.00	-7.00	3.00	-30
Cash Interest Paid	447	415	357	455	581	483	391	406	614	674
Cash Income Taxes Paid	60	99	205	71	238	318	202	326	493	994

This table details how cash moves in and out of United Rentals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	8.00	30	-7.00	128	57	79	66	38	12	-22	85
Net Cash From Operating Activities	1,142	1,251	939	1,289	1,062	1,414	1,029	1,265	1,204	1,048	1,425
Net Cash From Continuing Operating Activities	1,142	1,251	939	1,289	1,062	1,414	1,029	1,265	1,204	1,048	1,425
Net Income / (Loss) Continuing Operations	606	639	451	591	703	679	542	636	708	689	518
Consolidated Net Income / (Loss)	606	639	451	591	703	679	542	636	708	689	518
Depreciation Expense	560	577	693	696	695	697	686	717	738	762	751
Amortization Expense	3.00	4.00	4.00	3.00	4.00	3.00	4.00	3.00	4.00	4.00	4.00
Non-Cash Adjustments To Reconcile Net Income	-88	-219	-178	-169	-170	-206	-173	-161	-139	-189	-132
Changes in Operating Assets and Liabilities, net	61	250	-31	168	-170	241	-30	70	-107	-218	284
Net Cash From Investing Activities	-978	-2,646	-760	-1,068	-711	-437	-1,280	-1,186	-1,167	-515	-361
Net Cash From Continuing Investing Activities	-978	-2,646	-760	-1,068	-711	-437	-1,280	-1,186	-1,167	-515	-361
Purchase of Property, Plant & Equipment	-59	-72	-73	-106	-88	-89	-58	-107	-101	-108	-84
Acquisitions	-11	-2,017	-299	-119	12	-168	-1,118	-116	-108	-313	-17
Purchase of Investments	-1.00	-2.00	0.00	-	-	-4.00	-2.00	-1.00	-1.00	-1.00	-1.00
Sale of Property, Plant & Equipment	6.00	9.00	12	16	18	14	13	17	20	17	14
Other Investing Activities, net	-913	-564	-400	-859	-653	-190	-115	-979	-977	-110	-273
Net Cash From Financing Activities	-152	1,426	-186	-92	-290	-906	325	-38	-33	-528	-981
Net Cash From Continuing Financing Activities	-152	1,426	-186	-92	-290	-906	325	-38	-33	-528	-981
Repayment of Debt	-1,893	-3,230	-2,110	-1,897	-2,168	-2,399	-3,759	-1,855	-2,367	-1,897	-2,649
Repurchase of Common Equity	-239	-10	-303	-251	-252	-264	-415	-376	-377	-403	-289
Payment of Dividends	-	-	-103	-102	-100	-101	-110	-109	-107	-108	-118
Issuance of Debt	1,980	4,666	2,330	2,158	2,230	1,858	4,609	2,302	2,818	1,880	2,098
Other Financing Activities, net	-	-	-	-	-	-	-	-	-	-	-23
Effect of Exchange Rate Changes	-4.00	-1.00	0.00	-1.00	-4.00	8.00	-8.00	-3.00	8.00	-27	2.00
Cash Interest Paid	151	67	178	127	190	119	195	122	227	130	222
Cash Income Taxes Paid	143	31	29	183	177	104	131	475	206	182	42

This table presents United Rentals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	12,083	11,988	15,030	18,133	18,970	17,868	20,292	24,183	25,589	28,163
Total Current Assets	1,294	1,361	1,772	1,761	1,842	2,017	2,151	2,723	2,933	3,249
Cash & Equivalents	179	312	352	43	52	202	144	106	363	457
Accounts Receivable	930	920	1,233	1,545	1,530	1,315	1,677	2,004	2,230	2,357
Inventories, net	69	68	75	109	120	125	164	232	205	200
Prepaid Expenses	116	61	112	64	140	375	166	381	135	235
Plant, Property, & Equipment, net	6,631	6,619	8,291	614	0.00	0.00	11,172	14,116	14,904	15,965
Total Noncurrent Assets	4,158	4,008	4,967	15,758	17,128	15,851	6,969	7,344	7,752	8,949
Goodwill	3,243	3,260	4,082	5,058	5,154	5,168	5,528	6,026	5,940	6,900
Intangible Assets	905	742	875	1,084	895	648	615	452	670	663
Other Noncurrent Operating Assets	10	6.00	10	9,616	11,079	10,035	826	866	1,142	1,386
Total Liabilities & Shareholders' Equity	12,083	11,988	15,030	18,133	18,970	17,868	20,292	24,183	25,589	28,163
Total Liabilities	10,607	10,340	11,924	14,730	15,140	13,323	14,301	17,121	17,459	19,541
Total Current Liabilities	1,233	1,184	1,668	2,116	2,198	1,890	2,603	2,445	3,637	3,323
Short-Term Debt	607	597	723	903	997	704	906	161	1,465	1,178
Accounts Payable	271	243	409	536	454	466	816	1,139	905	748
Accrued Expenses	355	344	536	677	747	720	881	1,145	1,267	1,397
Total Noncurrent Liabilities	9,374	9,156	10,256	12,614	12,942	11,433	11,698	14,676	13,822	16,218
Long-Term Debt	7,555	7,193	8,717	10,844	10,431	8,978	8,779	11,209	10,053	12,228
Noncurrent Deferred & Payable Income Tax Liabilities	1,765	1,896	1,419	1,687	1,887	1,768	2,154	2,671	2,701	2,685
Other Noncurrent Operating Liabilities	54	67	120	83	624	687	765	796	1,068	1,305
Total Equity & Noncontrolling Interests	1,476	1,648	3,106	3,403	3,830	4,545	5,991	7,062	8,130	8,622
Total Preferred & Common Equity	1,476	1,648	3,106	3,403	3,830	4,545	5,991	7,062	8,130	8,622
Total Common Equity	1,476	1,648	3,106	3,403	3,830	4,545	5,991	7,062	8,130	8,622
Common Stock	2,198	2,289	2,357	2,409	2,441	2,483	2,568	2,627	2,651	2,692
Retained Earnings	1,088	1,654	3,005	4,101	5,275	6,165	7,551	9,656	11,672	13,813
Treasury Stock	-1,560	-2,077	-2,105	-2,870	-3,700	-3,957	-3,957	-4,957	-5,965	-7,478
Accumulated Other Comprehensive Income / (Loss)	-250	-218	-151	-237	-186	-146	-171	-264	-228	-405

This table presents United Rentals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	21,419	24,183	24,629	25,506	25,832	25,589	26,658	27,613	28,412	28,163	28,050
Total Current Assets	2,327	2,723	2,622	2,838	2,978	2,933	3,009	3,219	3,321	3,249	3,241
Cash & Equivalents	76	106	99	227	284	363	429	467	479	457	542
Accounts Receivable	1,934	2,004	2,034	2,138	2,277	2,230	2,221	2,260	2,396	2,357	2,298
Inventories, net	193	232	222	210	201	205	208	219	211	200	227
Prepaid Expenses	124	381	267	263	216	135	151	273	235	235	174
Plant, Property, & Equipment, net	12,201	14,116	14,322	14,923	15,195	14,904	14,895	15,643	16,241	15,965	15,931
Total Noncurrent Assets	6,891	7,344	7,685	7,745	7,659	7,752	8,754	8,751	8,850	8,949	8,878
Goodwill	5,543	6,026	5,708	5,826	5,792	5,940	6,863	6,749	6,853	6,900	6,860
Intangible Assets	500	452	868	773	728	670	666	744	694	663	642
Other Noncurrent Operating Assets	848	866	1,109	1,146	1,139	1,142	1,225	1,258	1,303	1,386	1,376
Total Liabilities & Shareholders' Equity	21,419	24,183	24,629	25,506	25,832	25,589	26,658	27,613	28,412	28,163	28,050
Total Liabilities	15,066	17,121	17,499	18,092	18,076	17,459	18,538	19,332	19,831	19,541	19,261
Total Current Liabilities	2,264	2,445	2,280	3,810	3,673	3,637	3,364	3,969	4,026	3,323	3,794
Short-Term Debt	156	161	156	1,444	1,448	1,465	1,087	1,369	1,510	1,178	1,420
Accounts Payable	1,136	1,139	1,117	1,339	1,121	905	959	1,349	1,216	748	1,029
Accrued Expenses	972	1,145	1,007	1,027	1,104	1,267	1,318	1,251	1,300	1,397	1,345
Total Noncurrent Liabilities	12,802	14,676	15,219	14,282	14,403	13,822	15,174	15,363	15,805	16,218	15,467
Long-Term Debt	9,754	11,209	11,492	10,493	10,580	10,053	11,318	11,520	11,884	12,228	11,502
Noncurrent Deferred & Payable Income Tax Liabilities	2,263	2,671	2,703	2,724	2,757	2,701	2,690	2,672	2,675	2,685	2,692
Other Noncurrent Operating Liabilities	785	796	1,024	1,065	1,066	1,068	1,166	1,171	1,246	1,305	1,273
Total Equity & Noncontrolling Interests	6,353	7,062	7,130	7,414	7,756	8,130	8,120	8,281	8,581	8,622	8,789
Total Preferred & Common Equity	6,353	7,062	7,130	7,414	7,756	8,130	8,120	8,281	8,581	8,622	8,789
Total Common Equity	6,353	7,062	7,130	7,414	7,756	8,130	8,120	8,281	8,581	8,622	8,789
Common Stock	2,605	2,627	2,599	2,622	2,643	2,651	2,639	2,665	2,687	2,692	2,689
Retained Earnings	9,017	9,656	10,003	10,493	11,094	11,672	12,103	12,630	13,231	13,813	14,214
Treasury Stock	-4,957	-4,957	-5,208	-5,460	-5,713	-5,965	-6,343	-6,722	-7,100	-7,478	-7,730
Accumulated Other Comprehensive Income / (Loss)	-312	-264	-264	-241	-268	-228	-279	-292	-237	-405	-384

This table displays calculated financial ratios and metrics derived from United Rentals' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.32%	-0.95%	15.26%	21.17%	16.20%	-8.78%	13.90%	19.82%	23.11%	7.07%
EBITDA Growth	6.42%	-3.95%	8.60%	25.34%	15.80%	-9.61%	11.97%	28.39%	21.25%	5.36%
EBIT Growth	8.90%	-7.19%	6.48%	29.43%	10.48%	-16.37%	25.55%	43.04%	18.45%	6.06%
NOPAT Growth	4.35%	-4.46%	119.68%	-25.15%	15.19%	-15.71%	21.55%	42.02%	18.99%	6.94%
Net Income Growth	8.33%	-3.25%	137.81%	-18.57%	7.12%	-24.19%	55.73%	51.88%	15.15%	6.23%
EPS Growth	17.86%	6.26%	143.88%	-16.59%	15.17%	-19.26%	56.07%	55.72%	18.99%	9.67%
Operating Cash Flow Growth	10.77%	-2.71%	13.81%	29.15%	5.99%	-12.10%	38.79%	20.17%	6.11%	-3.36%
Free Cash Flow Firm Growth	734.14%	13.98%	-193.28%	-29.30%	207.20%	64.84%	-92.17%	-280.63%	627.38%	-58.37%
Invested Capital Growth	-1.49%	-3.52%	33.62%	23.89%	0.66%	-7.77%	10.75%	17.99%	5.23%	11.85%
Revenue Q/Q Growth	-0.70%	-20.74%	40.28%	5.01%	1.63%	-2.03%	5.39%	4.68%	3.11%	2.45%
EBITDA Q/Q Growth	-0.93%	0.19%	4.72%	5.35%	2.01%	-3.25%	6.97%	6.52%	2.39%	1.33%
EBIT Q/Q Growth	-1.99%	0.35%	3.99%	5.67%	1.69%	-4.79%	11.00%	9.81%	0.94%	0.64%
NOPAT Q/Q Growth	-4.04%	2.96%	111.97%	-35.46%	3.64%	-5.23%	10.68%	7.73%	2.50%	0.78%
Net Income Q/Q Growth	-4.10%	-2.75%	123.59%	-34.88%	2.44%	-4.40%	15.31%	8.12%	1.68%	0.39%
EPS Q/Q Growth	-1.14%	-0.31%	124.39%	-33.87%	4.42%	-2.63%	15.25%	9.01%	2.62%	1.23%
Operating Cash Flow Q/Q Growth	5.44%	-6.14%	6.87%	10.75%	-8.70%	-2.64%	8.79%	15.14%	3.59%	-7.45%
Free Cash Flow Firm Q/Q Growth	23.43%	-16.43%	-1,022.34%	-73.45%	628.85%	-4.17%	-35.82%	-127.44%	490.33%	-24.88%
Invested Capital Q/Q Growth	-3.88%	-1.28%	18.87%	13.19%	-0.31%	-0.09%	1.74%	13.21%	-1.10%	0.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.63%	41.70%	41.70%	41.80%	39.25%	37.32%	39.66%	42.91%	40.56%	40.08%
EBITDA Margin	47.86%	46.41%	43.73%	45.23%	45.08%	44.67%	43.91%	47.05%	46.34%	45.60%
Operating Margin	26.10%	24.56%	22.69%	24.25%	23.01%	21.10%	23.44%	27.76%	26.70%	26.49%
EBIT Margin	26.30%	24.64%	22.77%	24.32%	23.12%	21.20%	23.36%	27.89%	26.84%	26.58%
Profit (Net Income) Margin	10.06%	9.82%	20.27%	13.62%	12.55%	10.43%	14.27%	18.08%	16.91%	16.78%
Tax Burden Percent	60.75%	62.27%	128.44%	74.25%	77.54%	78.14%	75.08%	75.12%	75.49%	76.00%
Interest Burden Percent	62.94%	64.01%	69.31%	75.42%	70.03%	63.00%	81.32%	86.30%	83.49%	83.06%
Effective Tax Rate	39.25%	37.73%	-28.44%	25.75%	22.46%	21.86%	24.92%	24.88%	24.51%	24.00%
Return on Invested Capital (ROIC)	9.68%	9.48%	18.16%	10.61%	11.01%	9.62%	11.57%	14.34%	15.36%	15.12%
ROIC Less NNEP Spread (ROIC-NNEP)	5.40%	5.41%	11.04%	7.22%	6.72%	4.67%	8.17%	11.24%	11.21%	10.85%
Return on Net Nonoperating Assets (RNNOA)	26.06%	26.75%	38.47%	23.06%	21.45%	11.63%	14.74%	17.91%	16.55%	15.62%
Return on Equity (ROE)	35.74%	36.24%	56.63%	33.68%	32.46%	21.25%	26.31%	32.25%	31.91%	30.74%
Cash Return on Invested Capital (CROIC)	11.18%	13.07%	-10.62%	-10.73%	10.36%	17.70%	1.37%	-2.16%	10.26%	3.93%
Operating Return on Assets (OROA)	12.64%	11.80%	11.19%	11.80%	11.65%	9.82%	11.90%	14.60%	15.45%	15.18%
Return on Assets (ROA)	4.83%	4.70%	9.96%	6.61%	6.33%	4.83%	7.26%	9.47%	9.74%	9.58%
Return on Common Equity (ROCE)	35.71%	36.24%	56.63%	33.68%	32.46%	21.25%	26.31%	32.25%	31.91%	30.74%
Return on Equity Simple (ROE_SIMPLE)	39.63%	34.34%	43.34%	32.21%	30.65%	19.58%	23.13%	29.81%	29.82%	29.87%
Net Operating Profit after Tax (NOPAT)	922	881	1,936	1,449	1,669	1,406	1,710	2,428	2,889	3,090
NOPAT Margin	15.85%	15.29%	29.15%	18.00%	17.85%	16.49%	17.60%	20.86%	20.16%	20.13%
Net Nonoperating Expense Percent (NNEP)	4.27%	4.08%	7.12%	3.39%	4.29%	4.95%	3.40%	3.11%	4.15%	4.27%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	13.17%	14.70%	14.03%
Cost of Revenue to Revenue	57.37%	58.30%	58.30%	58.20%	60.75%	62.68%	60.34%	57.09%	59.44%	59.92%
SG&A Expenses to Revenue	12.27%	12.48%	13.60%	12.90%	11.68%	11.48%	12.34%	12.03%	10.65%	10.72%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.54%	17.15%	19.00%	17.56%	16.23%	16.21%	16.22%	15.15%	13.86%	13.59%
Earnings before Interest and Taxes (EBIT)	1,530	1,420	1,512	1,957	2,162	1,808	2,270	3,247	3,846	4,079
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,784	2,674	2,904	3,640	4,215	3,810	4,266	5,477	6,641	6,997
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.50	5.32	4.62	2.41	3.23	3.63	3.96	3.41	4.74	5.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	41.22	25.34	43.65
Price to Revenue (P/Rev)	1.14	1.52	2.16	1.02	1.32	1.93	2.44	2.07	2.69	3.01
Price to Earnings (P/E)	11.35	15.49	10.65	7.48	10.53	18.53	17.11	11.44	15.89	17.95
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.04%	0.93%
Earnings Yield	8.81%	6.46%	9.39%	13.37%	9.50%	5.40%	5.84%	8.74%	6.29%	5.57%
Enterprise Value to Invested Capital (EV/IC)	1.55	1.78	1.92	1.32	1.56	1.85	2.14	1.93	2.58	2.74
Enterprise Value to Revenue (EV/Rev)	2.51	2.82	3.53	2.47	2.54	3.05	3.42	3.04	3.47	3.86
Enterprise Value to EBITDA (EV/EBITDA)	5.25	6.08	8.07	5.47	5.63	6.82	7.80	6.45	7.48	8.46
Enterprise Value to EBIT (EV/EBIT)	9.56	11.44	15.49	10.17	10.98	14.37	14.65	10.88	12.92	14.51
Enterprise Value to NOPAT (EV/NOPAT)	15.86	18.44	12.10	13.74	14.22	18.47	19.46	14.55	17.19	19.15
Enterprise Value to Operating Cash Flow (EV/OCF)	7.33	8.37	10.60	6.98	7.85	9.77	9.02	7.97	10.56	13.02
Enterprise Value to Free Cash Flow (EV/FCFF)	13.73	13.38	0.00	0.00	15.12	10.04	164.17	0.00	25.74	73.64
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.53	4.73	3.04	3.45	2.98	2.13	1.62	1.61	1.42	1.55
Long-Term Debt to Equity	5.12	4.36	2.81	3.19	2.72	1.98	1.47	1.59	1.24	1.42
Financial Leverage	4.82	4.95	3.48	3.19	3.19	2.49	1.81	1.59	1.48	1.44
Leverage Ratio	7.40	7.71	5.68	5.09	5.13	4.40	3.62	3.41	3.28	3.21
Compound Leverage Factor	4.65	4.93	3.94	3.84	3.59	2.77	2.95	2.94	2.74	2.67
Debt to Total Capital	84.69%	82.54%	75.24%	77.54%	74.90%	68.05%	61.78%	61.69%	58.62%	60.86%
Short-Term Debt to Total Capital	6.30%	6.33%	5.76%	5.96%	6.53%	4.95%	5.78%	0.87%	7.46%	5.35%
Long-Term Debt to Total Capital	78.39%	76.21%	69.48%	71.58%	68.36%	63.11%	56.00%	60.81%	51.17%	55.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	15.31%	17.46%	24.76%	22.46%	25.10%	31.95%	38.22%	38.31%	41.38%	39.14%
Debt to EBITDA	2.93	2.91	3.25	3.23	2.71	2.54	2.27	2.08	1.73	1.92
Net Debt to EBITDA	2.87	2.80	3.13	3.22	2.70	2.49	2.24	2.06	1.68	1.85
Long-Term Debt to EBITDA	2.71	2.69	3.00	2.98	2.47	2.36	2.06	2.05	1.51	1.75
Debt to NOPAT	8.85	8.84	4.88	8.11	6.85	6.88	5.67	4.68	3.99	4.34
Net Debt to NOPAT	8.66	8.49	4.70	8.08	6.82	6.74	5.58	4.64	3.86	4.19
Long-Term Debt to NOPAT	8.19	8.16	4.50	7.49	6.25	6.38	5.14	4.62	3.48	3.96
Altman Z-Score	1.41	1.59	1.78	1.43	1.73	2.05	2.34	2.34	2.99	3.13
Noncontrolling Interest Sharing Ratio	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.05	1.15	1.06	0.83	0.84	1.07	0.83	1.11	0.81	0.98
Quick Ratio	0.90	1.04	0.95	0.75	0.72	0.80	0.70	0.86	0.71	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,065	1,214	-1,132	-1,464	1,570	2,587	203	-366	1,930	804
Operating Cash Flow to CapEx	2,347.06%	2,456.96%	2,124.04%	1,761.11%	1,670.72%	1,714.84%	2,170.00%	1,927.39%	1,589.19%	1,480.78%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.48	0.48	0.49	0.49	0.50	0.46	0.51	0.52	0.58	0.57
Accounts Receivable Turnover	6.22	6.23	6.17	5.79	6.08	6.00	6.49	6.33	6.77	6.69
Inventory Turnover	45.40	49.04	54.15	50.90	49.62	43.65	40.57	33.57	38.99	45.41
Fixed Asset Turnover	0.89	0.87	0.89	1.81	0.00	0.00	0.00	0.92	0.99	0.99
Accounts Payable Turnover	12.00	13.07	11.88	9.91	11.48	11.62	9.15	6.80	8.34	11.13
Days Sales Outstanding (DSO)	58.67	58.60	59.17	63.00	60.01	60.87	56.20	57.70	53.91	54.55
Days Inventory Outstanding (DIO)	8.04	7.44	6.74	7.17	7.36	8.36	9.00	10.87	9.36	8.04
Days Payable Outstanding (DPO)	30.41	27.93	30.73	36.83	31.80	31.40	39.91	53.68	43.79	32.81
Cash Conversion Cycle (CCC)	36.30	38.11	35.18	33.35	35.57	37.83	25.29	14.89	19.49	29.78
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,459	9,126	12,194	15,107	15,206	14,025	15,532	18,326	19,285	21,571
Invested Capital Turnover	0.61	0.62	0.62	0.59	0.62	0.58	0.66	0.69	0.76	0.75
Increase / (Decrease) in Invested Capital	-143	-333	3,068	2,913	99	-1,181	1,507	2,794	959	2,286
Enterprise Value (EV)	14,623	16,246	23,424	19,903	23,735	25,976	33,261	35,335	49,672	59,176
Market Capitalization	6,640	8,768	14,336	8,199	12,359	16,496	23,720	24,071	38,517	46,227
Book Value per Share	$15.90	$19.57	$36.73	$41.96	$50.96	$63.01	$82.76	$101.89	$119.94	$131.39
Tangible Book Value per Share	($28.78)	($27.95)	($21.89)	($33.77)	($29.53)	($17.62)	($2.10)	$8.43	$22.43	$16.14
Total Capital	9,638	9,438	12,546	15,150	15,258	14,227	15,676	18,432	19,648	22,028
Total Debt	8,162	7,790	9,440	11,747	11,428	9,682	9,685	11,370	11,518	13,406
Total Long-Term Debt	7,555	7,193	8,717	10,844	10,431	8,978	8,779	11,209	10,053	12,228
Net Debt	7,983	7,478	9,088	11,704	11,376	9,480	9,541	11,264	11,155	12,949
Capital Expenditures (CapEx)	85	79	104	162	181	155	170	230	296	307
Debt-free, Cash-free Net Working Capital (DFCFNWC)	489	462	475	505	589	629	310	333	398	647
Debt-free Net Working Capital (DFNWC)	668	774	827	548	641	831	454	439	761	1,104
Net Working Capital (NWC)	61	177	104	-355	-356	127	-452	278	-704	-74
Net Nonoperating Expense (NNE)	337	315	590	353	495	516	324	323	465	515
Net Nonoperating Obligations (NNO)	7,983	7,478	9,088	11,704	11,376	9,480	9,541	11,264	11,155	12,949
Total Depreciation and Amortization (D&A)	1,254	1,254	1,392	1,683	2,053	2,002	1,996	2,230	2,795	2,918
Debt-free, Cash-free Net Working Capital to Revenue	8.41%	8.02%	7.15%	6.28%	6.30%	7.37%	3.19%	2.86%	2.78%	4.22%
Debt-free Net Working Capital to Revenue	11.48%	13.43%	12.45%	6.81%	6.85%	9.74%	4.67%	3.77%	5.31%	7.19%
Net Working Capital to Revenue	1.05%	3.07%	1.57%	-4.41%	-3.81%	1.49%	-4.65%	2.39%	-4.91%	-0.48%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$6.14	$6.49	$15.91	$13.26	$15.18	$12.24	$19.14	$29.77	$35.40	$38.82
Adjusted Weighted Average Basic Shares Outstanding	90.97M	84.31M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Adjusted Diluted Earnings per Share	$6.07	$6.45	$15.73	$13.12	$15.11	$12.20	$19.04	$29.65	$35.28	$38.69
Adjusted Weighted Average Diluted Shares Outstanding	90.97M	84.31M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	90.97M	84.31M	84.43M	79.59M	74.38M	72.20M	72.42M	69.36M	67.19M	65.31M
Normalized Net Operating Profit after Tax (NOPAT)	910	890	1,125	1,498	1,683	1,420	1,713	2,428	2,910	3,092
Normalized NOPAT Margin	15.64%	15.44%	16.94%	18.62%	18.00%	16.64%	17.63%	20.86%	20.31%	20.15%
Pre Tax Income Margin	16.55%	15.78%	15.78%	18.34%	16.19%	13.35%	19.00%	24.07%	22.40%	22.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.75%	16.85%
Augmented Payout Ratio	134.87%	93.29%	4.16%	74.54%	74.11%	32.13%	2.45%	50.74%	60.89%	77.86%

This table displays calculated financial ratios and metrics derived from United Rentals' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.53%	18.73%	30.15%	28.26%	23.40%	13.11%	6.09%	6.16%	6.03%	9.84%	6.71%
EBITDA Growth	24.27%	26.32%	29.59%	28.30%	21.55%	9.64%	7.22%	5.88%	3.55%	5.22%	5.31%
EBIT Growth	35.19%	39.35%	28.94%	29.40%	19.96%	3.51%	14.92%	8.04%	1.90%	2.45%	1.99%
NOPAT Growth	35.46%	31.39%	29.27%	22.14%	19.78%	9.45%	18.26%	7.99%	2.17%	2.96%	-8.89%
Net Income Growth	48.17%	32.85%	22.89%	19.88%	16.01%	6.26%	20.18%	7.61%	0.71%	1.47%	-4.43%
EPS Growth	53.82%	37.18%	28.12%	24.35%	18.82%	9.96%	24.27%	11.19%	3.98%	4.73%	-1.62%
Operating Cash Flow Growth	5.06%	87.28%	5.98%	11.70%	-7.01%	13.03%	9.58%	-1.86%	13.37%	-25.88%	38.48%
Free Cash Flow Firm Growth	67.40%	-117.02%	-77.91%	-768.70%	-956.56%	92.30%	71.56%	68.88%	53.53%	-820.68%	37.86%
Invested Capital Growth	6.03%	17.99%	20.74%	21.05%	20.47%	5.23%	7.59%	8.26%	10.24%	11.85%	5.34%
Revenue Q/Q Growth	10.10%	8.03%	-0.33%	8.19%	5.94%	-0.98%	-6.52%	8.26%	5.80%	2.58%	-9.18%
EBITDA Q/Q Growth	16.75%	8.28%	-10.39%	13.25%	10.60%	-2.33%	-12.37%	11.84%	8.16%	-0.75%	-12.29%
EBIT Q/Q Growth	27.88%	11.39%	-27.56%	25.40%	18.54%	-3.89%	-19.57%	17.89%	11.81%	-3.37%	-19.93%
NOPAT Q/Q Growth	17.98%	6.89%	-23.15%	26.03%	15.70%	-2.33%	-16.97%	15.09%	9.46%	-1.57%	-26.53%
Net Income Q/Q Growth	22.92%	5.45%	-29.42%	31.04%	18.95%	-3.41%	-20.18%	17.34%	11.32%	-2.68%	-24.82%
EPS Q/Q Growth	25.51%	4.39%	-28.43%	32.61%	19.93%	-3.40%	-19.11%	18.66%	12.16%	-2.71%	-24.02%
Operating Cash Flow Q/Q Growth	-1.04%	9.54%	-24.94%	37.27%	-17.61%	33.15%	-27.23%	22.93%	-4.82%	-12.96%	35.97%
Free Cash Flow Firm Q/Q Growth	21.65%	-774.03%	-28.27%	1.11%	4.71%	93.63%	-373.89%	-8.20%	-42.33%	-26.16%	68.01%
Invested Capital Q/Q Growth	2.46%	13.21%	1.93%	2.38%	1.97%	-1.10%	4.21%	3.02%	3.83%	0.35%	-1.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.77%	45.15%	37.78%	40.10%	42.10%	41.90%	38.62%	40.23%	41.28%	40.00%	36.46%
EBITDA Margin	48.67%	48.79%	43.87%	45.92%	47.94%	47.29%	44.33%	45.80%	46.82%	45.30%	43.75%
Operating Margin	30.19%	31.07%	22.53%	26.03%	29.19%	28.51%	24.45%	26.61%	28.11%	26.54%	21.62%
EBIT Margin	30.22%	31.16%	22.65%	26.25%	29.38%	28.51%	24.53%	26.72%	28.23%	26.59%	23.45%
Profit (Net Income) Margin	19.86%	19.39%	13.73%	16.63%	18.67%	18.21%	15.55%	16.86%	17.74%	16.83%	13.93%
Tax Burden Percent	74.26%	71.40%	75.93%	76.55%	74.55%	75.28%	77.99%	76.17%	74.60%	75.80%	75.29%
Interest Burden Percent	88.50%	87.15%	79.84%	82.74%	85.26%	84.85%	81.29%	82.84%	84.21%	83.47%	78.90%
Effective Tax Rate	25.74%	28.60%	24.07%	23.45%	25.45%	24.72%	22.01%	23.83%	25.40%	24.20%	24.71%
Return on Invested Capital (ROIC)	15.85%	15.25%	12.42%	15.05%	16.95%	16.36%	14.29%	15.01%	15.32%	15.11%	12.29%
ROIC Less NNEP Spread (ROIC-NNEP)	15.06%	14.37%	11.36%	13.95%	15.87%	15.28%	13.25%	13.95%	14.28%	13.99%	11.57%
Return on Net Nonoperating Assets (RNNOA)	24.96%	22.90%	18.01%	22.25%	24.28%	22.54%	20.44%	21.44%	21.55%	20.14%	16.67%
Return on Equity (ROE)	40.81%	38.16%	30.43%	37.30%	41.23%	38.90%	34.73%	36.46%	36.87%	35.25%	28.96%
Cash Return on Invested Capital (CROIC)	8.48%	-2.16%	-3.82%	-3.68%	-2.77%	10.26%	8.12%	7.38%	5.22%	3.93%	9.49%
Operating Return on Assets (OROA)	16.11%	16.31%	12.54%	14.94%	17.28%	16.42%	13.90%	14.84%	15.59%	15.18%	13.35%
Return on Assets (ROA)	10.59%	10.15%	7.60%	9.47%	10.99%	10.49%	8.81%	9.36%	9.79%	9.61%	7.93%
Return on Common Equity (ROCE)	40.81%	38.16%	30.43%	37.30%	41.23%	38.90%	34.73%	36.46%	36.87%	35.25%	28.96%
Return on Equity Simple (ROE_SIMPLE)	30.65%	0.00%	30.70%	30.85%	30.74%	0.00%	30.97%	30.91%	29.89%	0.00%	29.02%
Net Operating Profit after Tax (NOPAT)	684	731	562	708	819	800	664	765	837	824	605
NOPAT Margin	22.42%	22.18%	17.10%	19.92%	21.76%	21.46%	19.07%	20.27%	20.97%	20.12%	16.28%
Net Nonoperating Expense Percent (NNEP)	0.80%	0.89%	1.06%	1.09%	1.08%	1.08%	1.04%	1.07%	1.05%	1.12%	0.72%
Return On Investment Capital (ROIC_SIMPLE)	-	3.97%	-	-	-	4.07%	-	-	-	3.74%	2.79%
Cost of Revenue to Revenue	55.23%	54.85%	62.22%	59.90%	57.90%	58.10%	61.38%	59.77%	58.72%	60.00%	63.54%
SG&A Expenses to Revenue	11.67%	11.47%	11.63%	10.64%	9.93%	10.54%	11.16%	10.71%	10.42%	10.65%	11.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.59%	14.08%	15.25%	14.07%	12.91%	13.39%	14.18%	13.62%	13.18%	13.46%	14.84%
Earnings before Interest and Taxes (EBIT)	922	1,027	744	933	1,106	1,063	855	1,008	1,127	1,089	872
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,485	1,608	1,441	1,632	1,805	1,763	1,545	1,728	1,869	1,855	1,627
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.93	3.41	3.80	4.08	3.87	4.74	6.02	5.20	6.24	5.36	4.66
Price to Tangible Book Value (P/TBV)	60.13	41.22	48.90	37.14	24.30	25.34	82.70	54.65	51.79	43.65	31.80
Price to Revenue (P/Rev)	1.68	2.07	2.18	2.30	2.16	2.69	3.36	2.92	3.58	3.01	2.63
Price to Earnings (P/E)	9.57	11.44	12.38	13.23	12.60	15.89	19.43	16.82	20.88	17.95	16.04
Dividend Yield	0.00%	0.00%	0.38%	0.67%	1.01%	1.04%	0.84%	0.96%	0.79%	0.93%	1.07%
Earnings Yield	10.44%	8.74%	8.08%	7.56%	7.94%	6.29%	5.15%	5.94%	4.79%	5.57%	6.23%
Enterprise Value to Invested Capital (EV/IC)	1.76	1.93	2.07	2.20	2.14	2.58	3.03	2.68	3.09	2.74	2.52
Enterprise Value to Revenue (EV/Rev)	2.56	3.04	3.12	3.18	3.01	3.47	4.19	3.76	4.44	3.86	3.42
Enterprise Value to EBITDA (EV/EBITDA)	5.54	6.45	6.65	6.81	6.44	7.48	9.02	8.11	9.63	8.46	7.53
Enterprise Value to EBIT (EV/EBIT)	9.63	10.88	11.32	11.58	10.97	12.92	15.38	13.76	16.40	14.51	13.01
Enterprise Value to NOPAT (EV/NOPAT)	12.63	14.55	15.12	15.64	14.82	17.19	20.34	18.21	21.68	19.15	17.59
Enterprise Value to Operating Cash Flow (EV/OCF)	7.40	7.97	8.61	9.08	9.20	10.56	12.69	11.63	13.53	13.02	10.79
Enterprise Value to Free Cash Flow (EV/FCFF)	21.35	0.00	0.00	0.00	0.00	25.74	38.66	37.78	62.14	73.64	27.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.56	1.61	1.63	1.61	1.55	1.42	1.53	1.56	1.56	1.55	1.47
Long-Term Debt to Equity	1.54	1.59	1.61	1.42	1.36	1.24	1.39	1.39	1.38	1.42	1.31
Financial Leverage	1.66	1.59	1.58	1.59	1.53	1.48	1.54	1.54	1.51	1.44	1.44
Leverage Ratio	3.53	3.41	3.39	3.44	3.35	3.28	3.36	3.38	3.32	3.21	3.24
Compound Leverage Factor	3.12	2.97	2.71	2.85	2.86	2.78	2.73	2.80	2.80	2.68	2.55
Debt to Total Capital	60.94%	61.69%	62.03%	61.69%	60.80%	58.62%	60.44%	60.88%	60.95%	60.86%	59.52%
Short-Term Debt to Total Capital	0.96%	0.87%	0.83%	7.46%	7.32%	7.46%	5.30%	6.47%	6.87%	5.35%	6.54%
Long-Term Debt to Total Capital	59.98%	60.81%	61.20%	54.22%	53.48%	51.17%	55.14%	54.42%	54.08%	55.51%	52.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	39.06%	38.31%	37.97%	38.31%	39.20%	41.38%	39.56%	39.12%	39.05%	39.14%	40.48%
Debt to EBITDA	1.93	2.08	2.01	1.94	1.85	1.73	1.84	1.88	1.94	1.92	1.83
Net Debt to EBITDA	1.91	2.06	1.99	1.90	1.81	1.68	1.78	1.82	1.87	1.85	1.75
Long-Term Debt to EBITDA	1.90	2.05	1.98	1.70	1.63	1.51	1.68	1.68	1.72	1.75	1.62
Debt to NOPAT	4.40	4.68	4.56	4.45	4.27	3.99	4.15	4.23	4.37	4.34	4.26
Net Debt to NOPAT	4.36	4.64	4.52	4.36	4.17	3.86	4.00	4.08	4.21	4.19	4.08
Long-Term Debt to NOPAT	4.33	4.62	4.50	3.91	3.75	3.48	3.78	3.78	3.88	3.96	3.80
Altman Z-Score	2.00	2.04	2.12	2.17	2.25	2.63	2.85	2.60	2.90	2.78	2.62
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	1.11	1.15	0.74	0.81	0.81	0.89	0.81	0.82	0.98	0.85
Quick Ratio	0.89	0.86	0.94	0.62	0.70	0.71	0.79	0.69	0.71	0.85	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-236	-2,063	-2,646	-2,617	-2,494	-159	-753	-814	-1,159	-1,462	-468
Operating Cash Flow to CapEx	2,154.72%	1,985.71%	1,539.34%	1,432.22%	1,517.14%	1,885.33%	2,286.67%	1,405.56%	1,486.42%	1,151.65%	2,035.71%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.52	0.55	0.57	0.59	0.58	0.57	0.56	0.55	0.57	0.57
Accounts Receivable Turnover	6.29	6.33	6.81	6.79	6.60	6.77	6.83	6.71	6.41	6.69	6.89
Inventory Turnover	35.95	33.57	35.70	37.49	41.43	38.99	40.07	40.75	43.22	45.41	43.31
Fixed Asset Turnover	0.00	0.92	0.00	0.00	1.01	0.99	0.99	0.97	0.95	0.99	1.01
Accounts Payable Turnover	5.89	6.80	7.36	6.38	7.23	8.34	8.30	6.50	7.62	11.13	9.48
Days Sales Outstanding (DSO)	58.02	57.70	53.57	53.73	55.29	53.91	53.44	54.41	56.94	54.55	52.94
Days Inventory Outstanding (DIO)	10.15	10.87	10.22	9.74	8.81	9.36	9.11	8.96	8.44	8.04	8.43
Days Payable Outstanding (DPO)	62.02	53.68	49.59	57.23	50.47	43.79	43.98	56.13	47.90	32.81	38.52
Cash Conversion Cycle (CCC)	6.15	14.89	14.21	6.23	13.63	19.49	18.56	7.24	17.48	29.78	22.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16,187	18,326	18,679	19,124	19,500	19,285	20,096	20,703	21,496	21,571	21,169
Invested Capital Turnover	0.71	0.69	0.73	0.76	0.78	0.76	0.75	0.74	0.73	0.75	0.76
Increase / (Decrease) in Invested Capital	920	2,794	3,208	3,325	3,313	959	1,417	1,579	1,996	2,286	1,073
Enterprise Value (EV)	28,475	35,335	38,638	41,978	41,782	49,672	60,854	55,488	66,467	59,176	53,308
Market Capitalization	18,641	24,071	27,089	30,268	30,038	38,517	48,878	43,066	53,552	46,227	40,928
Book Value per Share	$90.78	$101.89	$102.80	$107.87	$113.59	$119.94	$121.94	$124.36	$129.75	$131.39	$134.58
Tangible Book Value per Share	$4.43	$8.43	$7.99	$11.86	$18.10	$22.43	$8.88	$11.83	$15.63	$16.14	$19.71
Total Capital	16,263	18,432	18,778	19,351	19,784	19,648	20,525	21,170	21,975	22,028	21,711
Total Debt	9,910	11,370	11,648	11,937	12,028	11,518	12,405	12,889	13,394	13,406	12,922
Total Long-Term Debt	9,754	11,209	11,492	10,493	10,580	10,053	11,318	11,520	11,884	12,228	11,502
Net Debt	9,834	11,264	11,549	11,710	11,744	11,155	11,976	12,422	12,915	12,949	12,380
Capital Expenditures (CapEx)	53	63	61	90	70	75	45	90	81	91	70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	143	333	399	245	469	398	303	152	326	647	325
Debt-free Net Working Capital (DFNWC)	219	439	498	472	753	761	732	619	805	1,104	867
Net Working Capital (NWC)	63	278	342	-972	-695	-704	-355	-750	-705	-74	-553
Net Nonoperating Expense (NNE)	78	92	111	117	116	121	122	129	129	135	87
Net Nonoperating Obligations (NNO)	9,834	11,264	11,549	11,710	11,744	11,155	11,976	12,422	12,915	12,949	12,380
Total Depreciation and Amortization (D&A)	563	581	697	699	699	700	690	720	742	766	755
Debt-free, Cash-free Net Working Capital to Revenue	1.29%	2.86%	3.22%	1.86%	3.37%	2.78%	2.09%	1.03%	2.18%	4.22%	2.09%
Debt-free Net Working Capital to Revenue	1.97%	3.77%	4.02%	3.58%	5.42%	5.31%	5.04%	4.20%	5.37%	7.19%	5.57%
Net Working Capital to Revenue	0.57%	2.39%	2.76%	-7.37%	-5.00%	-4.91%	-2.44%	-5.08%	-4.71%	-0.48%	-3.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.69	$9.10	$6.50	$8.60	$10.30	$10.00	$8.06	$9.56	$10.73	$10.47	$7.92
Adjusted Weighted Average Basic Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Adjusted Diluted Earnings per Share	$8.66	$9.04	$6.47	$8.58	$10.29	$9.94	$8.04	$9.54	$10.70	$10.41	$7.91
Adjusted Weighted Average Diluted Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	69.31M	69.36M	68.73M	68.28M	67.78M	67.19M	66.59M	66.14M	65.62M	65.31M	65.00M
Normalized Net Operating Profit after Tax (NOPAT)	683	731	563	722	823	803	665	765	838	824	606
Normalized NOPAT Margin	22.39%	22.18%	17.13%	20.31%	21.86%	21.55%	19.09%	20.29%	20.99%	20.12%	16.30%
Pre Tax Income Margin	26.75%	27.15%	18.08%	21.72%	25.05%	24.20%	19.94%	22.13%	23.77%	22.20%	18.50%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	4.71%	8.96%	12.79%	16.75%	16.42%	16.41%	16.65%	16.85%	17.33%
Augmented Payout Ratio	54.39%	50.74%	52.81%	44.08%	47.02%	60.89%	63.42%	67.46%	72.48%	77.86%	73.97%

Frequently Asked Questions About United Rentals' Financials

When does United Rentals's fiscal year end?

According to the most recent income statement we have on file, United Rentals' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has United Rentals' net income changed over the last 9 years?

United Rentals' net income appears to be on an upward trend, with a most recent value of $2.58 billion in 2024, rising from $585 million in 2015. The previous period was $2.42 billion in 2023. Find out what analysts predict for United Rentals in the coming months.

What is United Rentals's operating income?

United Rentals's total operating income in 2024 was $4.07 billion, based on the following breakdown:

Total Gross Profit: $6.15 billion
Total Operating Expenses: $2.09 billion

How has United Rentals revenue changed over the last 9 years?

Over the last 9 years, United Rentals' total revenue changed from $5.82 billion in 2015 to $15.35 billion in 2024, a change of 163.8%.

How much debt does United Rentals have?

United Rentals' total liabilities were at $19.54 billion at the end of 2024, a 11.9% increase from 2023, and a 84.2% increase since 2015.

How much cash does United Rentals have?

In the past 9 years, United Rentals' cash and equivalents has ranged from $43 million in 2018 to $457 million in 2024, and is currently $457 million as of their latest financial filing in 2024.

How has United Rentals' book value per share changed over the last 9 years?

Over the last 9 years, United Rentals' book value per share changed from 15.90 in 2015 to 131.39 in 2024, a change of 726.3%.

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This page (NYSE:URI) was last updated on 5/7/2025 by MarketBeat.com Staff

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United Rentals (URI) Financials

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United Rentals (URI) Financials

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