United Rentals

Industrials Trading Companies & Distributors Stamford, Connecticut Last filing Jan 28, 2026 · FY2025

                    Revenue
                    FY2025
                
$3.7B
                    3y CAGR +13.9%
                    
                    P90
                    
                    +3.0%
                    
                    Net income
                    FY2025
                
$2.5B
                    Net margin +67.5%
                    
                    P100
                    
                    -3.1%
                    
                    Total assets
                    FY2025
                
$29.9B
                    ROA +8.4%
                    
                    P54
                    
                    +6.0%
                    
                    Operating cash flow
                    FY2025
                
$5.2B
                    
                    +14.2%

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 5 years

Total assets $29.9B

Total liabilities $20.9B

Shareholders equity $9.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	1.5%	1.6%	1.4%	0.4%	0.7%
Accounts Receivable	8.4%	8.4%	8.7%	8.3%	8.3%
Inventory	0.8%	0.7%	0.8%	1.0%	0.8%
Prepaid Expenses	1.3%	0.8%	0.5%	1.6%	0.8%
Total Current Assets	12.1%	11.5%	11.5%	11.3%	10.6%
Property,Plant and Equipment	0.0%	0.0%	0.0%	0.0%	0.0%
Operating Lease Assets	4.7%	4.7%	4.3%	3.4%	3.9%
Goodwill	23.8%	24.5%	23.2%	24.9%	27.2%
Intangible Assets	1.6%	2.4%	2.6%	1.9%	3.0%
Other Noncurrent Assets	0.2%	0.2%	0.2%	0.2%	0.2%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	2.6%	2.7%	3.5%	4.7%	4.0%
Accrued Liabilities	4.9%	5.0%	5.0%	4.7%	4.3%
Current Portion of Long Term Debt	5.3%	4.2%	5.7%	0.7%	4.5%
Other Current Liabilities	0.6%	0.8%	0.7%	0.6%	0.7%
Total Current Liabilities	12.8%	11.8%	14.2%	10.1%	12.8%
Operating Lease Liabilities Noncurrent	3.8%	3.9%	3.5%	2.7%	3.1%
Deferred Tax Liabilities	10.4%	9.5%	10.6%	11.0%	10.6%
Other Noncurrent Liabilities	0.6%	0.8%	0.7%	0.6%	0.7%
Total Liabilities	70.0%	69.4%	68.2%	70.8%	70.5%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	9.3%	9.6%	10.4%	10.9%	12.7%
Retained Earnings	53.0%	49.0%	45.6%	39.9%	37.2%
Treasury Stock	31.5%	26.6%	23.3%	20.5%	19.5%
Accumulated Other Comprehensive Income	-0.8%	-1.4%	-0.9%	-1.1%	-0.8%
Total Stockholders Equity	30.0%	30.6%	31.8%	29.2%	29.5%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

18 accounts · 5 years

Revenue $3.7B

Operating income $4.0B

Net income $2.5B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	12.4%	12.7%	13.3%	10.3%	11.1%
Expenses Cost of Revenue	33.3%	32.6%	33.3%	27.5%	28.9%
Expenses Selling,General and Administrative	5.8%	5.8%	6.0%	5.8%	5.9%
Expenses Depreciation and Amortization	1.5%	1.6%	1.7%	1.5%	1.8%
Expenses Share Based Compensation	0.4%	0.4%	0.4%	0.5%	0.6%
Expenses Restructuring and Asset Impairment	0.0%	0.0%	0.1%	0.0%	0.0%
Other Income Expense Gross Profit	20.6%	21.8%	22.7%	20.7%	19.0%
Other Income Expense Operating Income	13.3%	14.4%	15.0%	13.4%	11.2%
Other Income Expense Interest Income	-2.4%	-2.5%	-2.5%	-1.8%	-2.1%
Other Income Expense Other Income/expense	0.3%	0.0%	0.1%	0.1%	-0.0%
Other Income Expense Income Before Tax	11.2%	12.0%	12.5%	11.6%	9.1%
Income Tax Income Tax Expense	2.8%	2.9%	3.1%	2.9%	2.3%
net Income net Income	8.4%	9.1%	9.5%	8.7%	6.8%
net Income Comprehensive Income	8.9%	8.5%	9.6%	8.3%	6.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.2%	0.2%	0.3%	0.3%	0.4%
Earnings Per Share Weighted Average Shares Diluted	0.2%	0.2%	0.3%	0.3%	0.4%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $5.2B

Investing cash flow $-3.4B

Financing cash flow $-1.8B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	8.4%	9.1%	9.5%	8.7%	6.8%
Operating Activities Depreciation and Amortization	0.8%	0.9%	1.1%	0.9%	1.1%
Operating Activities Stock Based Compensation	0.4%	0.4%	0.4%	0.5%	0.6%
Operating Activities Deferred Income Taxes	1.4%	-0.1%	0.1%	2.2%	1.3%
Operating Activities Changes In Operating Assets and Liabilities	1.0%	-0.7%	-0.4%	4.4%	2.2%
Operating Activities net Cash From Operating Activities	17.4%	16.1%	18.4%	18.3%	18.2%
Investing Activities Business Acquisitions	1.2%	5.9%	2.2%	9.7%	7.1%
Investing Activities Purchases of Investments	0.0%	0.0%	0.0%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-11.3%	-14.7%	-11.6%	-20.7%	-17.8%
Financing Activities Proceeds From Debt	37.4%	41.2%	33.5%	40.9%	41.2%
Financing Activities Repurchase of Common Stock	6.6%	5.6%	4.2%	4.4%	0.2%
Financing Activities Dividends Paid	1.6%	1.5%	1.6%	0.0%	0.0%
Financing Activities net Cash From Financing Activities	-6.2%	-1.0%	-5.8%	2.3%	-0.7%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%	-0.0%	0.0%
Cash Reconciliation net Change In Cash	0.0%	0.3%	1.0%	-0.2%	-0.3%
Cash Reconciliation Cash At Beginning of Period	1.5%	1.6%	1.4%	0.4%	0.7%
Cash Reconciliation Cash At End of Period	1.5%	1.6%	1.4%	0.4%	0.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	-169.4%	-156.3%	-150.9%	-165.7%	-159.9%
Operating margin	+107.5%	+113.3%	+112.7%	+129.2%	+100.9%
Net margin	+67.5%	+71.8%	+71.4%	+84.2%	+61.4%
FCF margin	—	+11.6%	+24.7%	+29.7%	+21.8%
Growth
Revenue CAGR (3y)	+13.9%	+16.7%	+19.4%	+6.6%	-34.6%
Returns
ROE	+27.8%	+29.9%	+29.8%	+29.8%	+23.1%
ROA	+8.4%	+9.1%	+9.5%	+8.7%	+6.8%
ROIC	+29.4%	+33.1%	+31.3%	+34.1%	+25.3%
Liquidity
Current ratio	0.94x	0.98x	0.81x	1.11x	0.83x
Quick ratio	0.78x	0.85x	0.71x	0.86x	0.70x
Leverage
D/E	2.33x	2.27x	2.15x	2.42x	2.39x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.12x	0.13x	0.13x	0.10x	0.11x
Cash conversion cycle	+228d	+218d	+210d	+243d	+231d

Valuation

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FY2025 fundamentals · no price

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United Rentals

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