FirmAtlas

Company handbook · URI · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16

URI · CIK 1067701 · LATEST FILING: 10-Q JUN '26 · FILED JUL 22, 2026

United Rentals, Inc.

$1,029.64 −17.94 (−1.71%)

Close, Oct 16, 2026 · 52-week $702–1,179

↗ unitedrentals.com

Last fiscal year

United Rentals, Inc. reported revenue of $3.7B for the year ended Dec 31, 2025 (FY25), up 3.0% from FY24. Net income was $2.5B and operating cash flow $5.2B. Source: 10-K filed Jan 28, 2026.

Market cap

$65.0B

P/E

25.9

EV/EBITDA

17.8x

P/B

7.2

Div yield

0.75%

ROIC

13.4%

Revenue 1Y

3.0%/yr

EPS 1Y

−0.2%/yr

Shares 1Y

−3%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEOMatthew J. Flannery

HQStamford, CT

AuditorErnst & Young LLP

Employees28,500

Year endsDecember

Compounded growth & averages

10Y

TTM

Share price

29.9%

24.1%

32.7%

2.4%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Where the cash went · FY24–FY25

$10.6B deployed

Capex $4.1B 39.0%

Acquisitions $2.0B 19.0%

Dividends $898M 8.5%

Buybacks $3.5B 33.5%

Operating cash flow over the period: $9.7B. Total debt changed by +$823M.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Sep 8, 2026 Other announcement 8-K Jul 22, 2026 Quarterly results 8-K Jun 18, 2026 Material agreement 8-K May 8, 2026 Shareholder vote results 8-K Apr 22, 2026 Quarterly results 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

3,588

3,695+3.0%

3,731

YoY

+3.0%

Gross profit

6,150

6,144−0.1%

6,257

Gross margin

171.4%

166.3%−5.1 pp

—

Operating income

4,065

3,973−2.3%

4,038

Operating margin

113.3%

107.5%−5.8 pp

—

EBITDA

4,502

4,411−2.0%

—

EBITDA margin

125.5%

119.4%−6.1 pp

—

Interest expense

674

703+4.3%

—

Interest coverage

6.68x

6.27x−0.40x

—

Net income

2,575

2,494−3.1%

2,507

YoY

−3.1%

Net margin

71.8%

67.5%−4.3 pp

—

EPS (diluted, $)

38.69

38.61−0.2%

39.28

YoY

−0.2%

Balance sheet

FY24 FY25

TTM

Total assets

28,163

29,866+6.0%

29,888

Cash & short-term investments

457

459+0.4%

—

Accounts receivable

2,357

2,510+6.5%

—

Inventory

200

240+20.0%

—

Other assets

25,149

26,657+6.0%

—

Total liabilities

19,541

20,898+6.9%

20,920

Accounts payable

748

776+3.7%

—

Total debt

13,406

14,229+6.1%

13,886

Other liabilities

5,387

5,893+9.4%

—

Shareholders’ equity

8,622

8,968+4.0%

8,968

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

4,546

5,190+14.2%

5,279

Net income

2,575

2,494−3.1%

—

Depreciation & amortization

437

438+0.2%

—

Stock-based compensation

112

134+19.6%

—

Working capital & other

1,422

2,124+49.4%

—

Cash from investing

(4,148)

(3,369)n/m

—

Capex

(4,130)

—

PP&E sold

56−16.4%

—

Acquisitions

(1,655)

(357)n/m

—

Investments bought

(5)

(3)n/m

—

Other investing

1,575

(3,065)−294.6%

—

Cash from financing

(274)

(1,841)n/m

—

Debt raised

11,609

11,182−3.7%

—

Dividends

(434)

(464)n/m

—

Buybacks

(1,571)

(1,969)n/m

—

Other financing

(9,878)

(10,590)n/m

—

Net change in cash

2−97.9%

—

Free cash flow (OCF − capex)

416

—

Where the cash went

FY24 FY25

TTM

Operating cash flow

4,546

5,190+14.2%

5,279

Reinvested in the business

5,785

—

% of operating cash flow

127.3%

—

Capex

4,130

—

Acquisitions

1,655

357−78.4%

—

Free cash flow

416

—

YoY

Returned to shareholders

2,005

2,433+21.3%

—

% of free cash flow

482.0%

—

Dividends

434

464+6.9%

—

Buybacks

1,571

1,969+25.3%

—

Change in total debt

—

823

—

FCF conversion (FCF ÷ net income)

16.2%

—

Buyback yield

3.4%

3.9%+0.4 pp

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

14.3%

13.4%−0.9 pp

—

ROIC (operating)

170.8%

156.9%−13.9 pp

—

Net debt / EBITDA

2.88x

3.12x+0.25x

—

Debt / equity

1.55x

1.59x+0.03x

—

ROE

29.9%

27.8%−2.1 pp

—

ROA

9.1%

8.4%−0.8 pp

—

ROCE

16.4%

15.3%−1.1 pp

—

NOPAT

3,090

2,968−3.9%

—

Invested capital (operating)

1,809

1,974+9.1%

—

Invested capital (all)

21,571

22,738+5.4%

—

Reinvestment rate

—

5.6%

—

Net debt is 3.1x EBITDA (FY25).

Income

Jun '25

Sep '25

Dec '25

Mar '26

Revenue

872

938

992

929

vs year-ago quarter

Gross profit

1,533

1,665

1,590

1,469

Gross margin

175.8%

177.5%

160.3%

158.1%

Operating income

1,003

1,114

1,052

869

Net income

622

701

653

531

vs year-ago quarter

Net margin

71.3%

74.7%

65.8%

57.2%

EPS (diluted, $)

9.59

10.91

10.35

8.43

vs year-ago quarter

Balance sheet

Jun '25

Sep '25

Dec '25

Mar '26

Total assets

29,206

30,065

29,866

29,888

Cash & equivalents

548

512

459

156

Total debt

13,385

14,148

14,229

13,886

Shareholders’ equity

9,035

9,000

8,968

Cash flow

Jun '25

Sep '25

Dec '25

Mar '26

Operating cash flow

1,328

1,181

1,256

1,514