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United Rentals, Inc.

URI Industrials Rental & Leasing Services

United Rentals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.1 billion, up 4.91% from fiscal 2024.

Revenue
+15.7%
EPS
+35.4%
Free cash flow
+1,473.7%
Total debt
+3.70%

Quarter to September 2026, against a year earlier

1,049.20 74.59 −6.64%
Market cap
$64.6B
P/E
23.1×
Fwd P/E
24.2×
Dividend yield
0.73%
F-score
5/9
Altman Z
3.21
Beneish M
−2.84
Dividend safety
80/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2018

  • General Rentals Segment
  • Specialty Segment

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 0.05
Sold, $m 28.78
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell — — 2 — 4 — — 1 — — — —
Insider Ownership 0.86%

Capital & Financial Ratios $m

Size
Market Cap 64,630.00
Revenue ttm 17,496.00
Net income ttm 2,857.00
Free cash flow ttm 2,362.00
Net debt Q 14,518.00
Valuation
P/E 23.05
Forward P/E 24.20
Price / sales 3.73
Forward P/S Powerpack
Price / FCF 27.61
Price / book 6.73 (above 6: high)
Financial health
Current ratio Q 0.80 (below 1: weak)
Debt / equity Q 1.51
Interest coverage Q 7.66
Growth
Revenue growth Q +15.70% (above 0%: growing)
Operating income growth Q +26.48% (above 0%: growing)
EPS, this year +23.52% (at or above 15%: strong)
EPS, next year A +18.50% (at or above 15%: strong)
Revenue, next year A +12.23% (at or above 10%: strong)
EPS, past 5 yrs +25.91% (at or above 15%: strong)
EPS, next 5 yrs A +18.33% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.6×, against a ten-year median of 3.2×; over the ten years it ranged from 2.0× in 2020 to 5.0× in 2026.
P/E against its own 10 years 86.54%
10-year low 10-year high
P/S against its own 10 years 93.66%
10-year low 10-year high
P/B against its own 10 years 93.66%
10-year low 10-year high
EV/Sales against its own 10 years 93.47%
10-year low 10-year high
EV/FCF against its own 10 years 92.48%
10-year low 10-year high

Dividends raised every year since 2023

Yield
0.73%
Annual rate
7.70
Payout ratio
16.9%
Growth, 2023–26
+10.0%/yr
  1. 5.92 ’23
  2. 6.52 ’24 +10
  3. 7.16 ’25 +10
  4. 7.88 ’26 +10
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 363 457 459 153
Receivables 2,230 2,357 2,510 3,096
Inventory 205 200 240 313
Other — — — —
2,933 3,249 3,608 3,985
2023 2024 2025 Q'26
Payables 905 748 776 1,686
ST’ Debt 1,465 1,178 1,577 1,607
Other — — — —
3,637 3,323 3,819 5,006

Compound Annual Growth %

10y 5y 3y
Sales 10.72% 13.55% 11.41%
Cash Flow 10.03% 14.32% 5.40%
Earnings 15.60% 22.89% 5.82%
Book Value 19.77% 14.56% 8.29%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 13.83 Actual 15.55

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 11.90 11.09 Miss by 0.81
Q1 FY26 9.01 9.71 Beat by 0.70
Q2 FY26 11.67 12.76 Beat by 1.09
Q3 FY26 13.83 15.55 Beat by 1.72
Q4 FY26 13.72 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 8.43 12.03 14.77 — —
’25 7.91 9.59 10.91 10.27 38.61
’24 8.04 9.54 10.70 10.47 38.69
’23 6.47 8.58 10.29 10.01 35.28
’22 5.05 6.90 8.66 9.15 29.65
’21 2.80 4.02 5.63 6.61 19.04
’20 2.33 2.93 2.87 4.09 12.20
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,985 4,410 4,893 — —
’25 3,719 3,943 4,229 4,208 16,099
’24 3,485 3,773 3,992 4,095 15,345
’23 3,285 3,554 3,765 3,728 14,332
’22 2,524 2,771 3,051 3,296 11,642
’21 2,057 2,287 2,596 2,776 9,716
’20 2,125 1,939 2,187 2,279 8,530
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,514 1,791 1,629 — —
’25 1,425 1,328 1,181 1,256 5,190
’24 1,029 1,265 1,204 1,048 4,546
’23 939 1,289 1,062 1,414 4,704
’22 886 1,154 1,142 1,251 4,433
’21 758 1,176 1,087 668 3,689
’20 644 817 827 370 2,658
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,044 82 261 — —
’25 1,071 104 (19) 975 2,131
’24 856 185 132 834 2,007
’23 469 330 328 1,141 2,268
’22 565 382 168 617 1,732
’21 718 430 87 254 1,489
’20 600 810 562 428 2,400
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 13.6% a year for ten years. It grew 8.1% a year over the last ten.

Implied
13.6%
10 years, reported
8.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,762 6,641 8,047 9,351 8,530 9,716 11,642 14,332 15,345 16,099 17,496 +12.1% 18,068 19,924 21,566 +10.2%
Gross margin, % 41.70 41.70 41.80 39.25 37.32 39.66 42.91 40.56 40.08 38.16 39.08 (3.5) pt
EBT 909 1,048 1,476 1,514 1,139 1,846 2,802 3,211 3,388 3,338 3,813 +15.5%
EBT margin, % 15.78 15.78 18.34 16.19 13.35 19.00 24.07 22.40 22.08 20.73 21.79 +5.0 pt
Net income 566 1,346 1,096 1,174 890 1,386 2,105 2,424 2,575 2,494 2,857 +17.9%
Per share, $
Per share, $ Revenue 66.07 78.50 97.36 120.91 117.40 134.14 164.66 209.32 231.29 249.83 281.45 +15.9%
Earnings 6.45 15.73 13.25 15.19 12.24 19.14 29.77 35.39 38.84 38.61 45.51 +22.0%
Cash flow 22.25 26.11 34.52 39.10 36.58 50.93 62.70 68.70 68.52 80.54 99.58 +15.4%
Capex (9.50) (15.64) (19.41) (19.16) (3.55) (30.37) (38.20) (35.58) (38.27) (47.47) (61.58) +19.6%
Free cash flow 12.75 10.47 15.11 19.94 33.03 20.56 24.50 33.12 30.25 33.07 38.00 +11.2%
Book value 18.90 36.71 41.17 49.52 62.55 82.71 99.88 118.74 129.96 139.17 155.96 +24.8%
Shares, m 87 85 83 77 73 72 71 68 66 64 63 (3.3%)
Valuation, ×
Valuation, × P/E 16.79 11.03 7.71 10.95 18.92 17.39 11.94 16.00 18.15 20.91 23.05 15.0
P/S 1.65 2.21 1.05 1.38 1.98 2.48 2.17 2.71 3.05 3.24 3.73 2.2
P/B 5.79 4.73 2.49 3.37 3.71 4.02 3.57 4.78 5.42 5.82 6.73 4.4
EV/Sales 2.95 3.58 2.51 2.60 3.09 3.46 3.13 3.49 3.89 4.09 4.56 3.3
EV/FCF 15.30 26.83 16.16 15.74 10.97 22.57 21.06 22.04 29.74 30.93 33.76 21.1
Cash, $m
Cash, $m Operating cash flow 1,941 2,209 2,853 3,024 2,658 3,689 4,433 4,704 4,546 5,190 6,190 +11.5%
Capex (829) (1,323) (1,604) (1,482) (258) (2,200) (2,701) (2,436) (2,539) (3,059) (3,828) +15.6%
Free cash flow 1,112 886 1,249 1,542 2,400 1,489 1,732 2,268 2,007 2,131 2,362 +7.5%
Balance, $m
Balance, $m Working capital 177 104 (355) (356) 127 (452) 278 (704) (74) (211) (1,021) n/m
Net debt 7,478 9,088 11,704 11,376 9,480 9,541 11,264 11,155 12,949 13,770 14,518 +7.0%
Shareholders’ equity 1,648 3,106 3,403 3,830 4,545 5,991 7,062 8,130 8,622 8,968 9,695 +20.7%
Returns, %
Returns, % ROA 4.70 9.96 6.61 6.33 4.83 7.26 9.47 9.74 9.58 8.60 9.09 +3.9 pt
ROIC 9.69 7.72 8.07 8.85 8.02 9.16 11.02 12.40 11.78 10.92 11.53 +1.2 pt
ROE 36.24 56.63 33.68 32.46 21.25 26.31 32.25 31.91 30.74 28.36 30.56 (7.9) pt
People
People Employees 12,500 14,800 18,500 19,100 18,250 20,400 24,600 26,300 27,900 28,500 — +9.6%
Revenue/emp, $m 0.46 0.45 0.43 0.49 0.47 0.48 0.47 0.54 0.55 0.56 — +2.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

United Rentals is headquartered in Stamford and rents equipment and provides related services to construction, industrial, municipal, government and household customers. Matthew Flannery is President and Chief Executive Officer.

The company has two operating segments. General rentals supplies construction, aerial and industrial equipment, general tools and light equipment, plus related services. Specialty rents equipment used for underground work, temporary power and climate control, fluid containment and treatment, mobile storage and modular offices, and surface-protection mats; it also provides setup and other services for rented specialty equipment.

Where the money comes from and where it goes Fiscal 2018

Fiscal 2018: revenue by segment, and margins
General Rentals Segment 6,550 81.40%
Specialty Segment 1,497 18.60%
Gross margin 41.80%
Operating margin 24.25%
Pre-tax margin 18.34%

Revenue by segment since 2009

United Rentals, Inc. vs peers in Rental & Leasing Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
URI United Rentals, Inc. $64.6B 23.1× 24.2× +15.70% (above 0%: growing) +35.38% (above 0%: growing) +1,473.68% (above 0%: growing) 41.81% 28.80%
SUNB Sunbelt Rentals Holdings, Inc. $31.2B 22.6× 21.3× — — −91.04% (below 0%: shrinking) 40.10% 22.18% Compare
AER Aercap Holdings N.V. $25.7B 8.4× 7.7× +4.62% (above 0%: growing) −12.21% (below 0%: shrinking) +8.56% (above 0%: growing) 100.00% 60.94% Compare
R Ryder System, Inc. $10.3B 20.6× 21.4× +8.26% (above 0%: growing) +25.00% (above 0%: growing) +782.86% (above 0%: growing) 19.95% 8.80% Compare
UHAL U-Haul Holding Company $10.2B 416× 52.0× +3.07% (above 0%: growing) −14.71% (below 0%: shrinking) +37.12% (above 0%: growing) 0.00% 14.95% Compare
GATX GATX Corporation $6.5B 17.4× 17.8× +36.13% (above 0%: growing) +30.22% (above 0%: growing) +145.40% (above 0%: growing) 74.97% 32.17% Compare
HRI Herc Holdings Inc. $5.0B 40.8× 25.2× +4.60% (above 0%: growing) +245.98% (above 0%: growing) −330.00% (below 0%: shrinking) 55.35% 18.18% Compare
CAR Avis Budget Group, Inc. $4.3B — (loss-making) 83.1× −2.36% (below 0%: shrinking) −44.84% (below 0%: shrinking) −11.76% (below 0%: shrinking) 52.82% 19.79% Compare
EQPT EquipmentShare.com Inc. $3.5B 15.4× 39.0× +102.37% (above 0%: growing) n/m −17.02% (below 0%: shrinking) 28.36% 6.49% Compare
Median of peers $8.4B 20.6× 23.3× +4.62% +6.40% −1.60% 46.46% 18.99%

All 20 Rental & Leasing Services stocks →

From the latest earnings call

Updated

  • CEO Matt Flannery said large projects across several end markets were driving growth and expected that momentum to continue through the rest of 2026 and into 2027.
  • CFO Ted Grace said productivity gains and delivery efficiencies were helping offset inflation in labor, parts and freight, while restructuring was not a major driver of margin improvement.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 91.20%
Held by the ten largest 47.81%
Holder Shares Stake Change
Vanguard 7.44m 11.96% +23.34k
BlackRock 5.13m 8.25% +9.99k
Capital Group 3.95m 6.35% −1.40m
State Street 2.99m 4.81% +32.24k
JPMorgan Chase 2.83m 4.55% −155.92k
Franklin Templeton 1.94m 3.12% +137.34k
Geode Capital Management 1.70m 2.73% +30.27k
Morgan Stanley 1.49m 2.40% −251.21k
Norges Bank 1.27m 2.04% +1.27m
UBS 1.00m 1.61% +66.56k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 25 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 12.06m 19.03m 360.00
2024 13.07m 14.76m 311.00
2023 11.00m 19.64m 251.00
2022 12.41m 18.14m 153.00
2021 12.72m 23.41m 143.00

Ownership

Directors and executive officers, together less than 1%
The Vanguard Group Inc. 11.17%
BlackRock, Inc. 7.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

United Rentals, Inc. (URI) Latest News

4 Nov

Impact 3 · · Zacks

1 Nov

Impact 3 · · Simply Wall St.

31 Oct

Impact 3 · · Simply Wall St.

29 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · StockStory

28 Oct

Impact 3 · · Zacks

27 Oct

Impact 4 · · Zacks

26 Oct

Impact 4 · · Business Wire
Impact 3 · · Trefis

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 4 · · StockStory
Impact 4 · · Zacks
Impact 3 · · StockStory

22 Oct

Impact 4 · · The Motley Fool
Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks
Impact 4 · · Moby
Impact 3 · · Zacks

21 Oct

Impact 4 · · Zacks
Impact 4 · · StockStory
Impact 4 · · Associated Press
Impact 4 · · Business Wire
Impact 3 · · Zacks

20 Oct

Impact 3 · · StockStory

19 Oct

Impact 3 · · Insider Monkey
Impact 3 · · Zacks

17 Oct

Impact 3 · · Simply Wall St.

URI metrics, ten years each

stockrow.com/URI · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com