United Rentals

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

                    Revenue
                    FY2025
                
$16.1B
                    3y CAGR +11.4%
                    
                    P90
                    
                    +4.9%
                    
                    Net income
                    FY2025
                
$2.5B
                    Net margin +15.5%
                    
                    P70
                    
                    -3.1%
                    
                    Total assets
                    FY2025
                
$29.9B
                    ROA +8.4%
                    
                    P51
                    
                    +6.0%
                    
                    Operating cash flow
                    FY2025
                
$5.2B
                    FCF margin +4.1%
                    
                    P6
                    
                    +14.2%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 10 years

Total assets $29.9B

Total liabilities $20.9B

Shareholders equity $9.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	$459.0M 0.4%	$457.0M 25.9%	$363.0M 242.5%	$106.0M -26.4%	$144.0M -28.7%	$202.0M 288.5%	$52.0M 20.9%	$43.0M -87.8%	$352.0M 12.8%	$312.0M
Accounts Receivable	$2.5B 6.5%	$2.4B 5.7%	$2.2B 11.3%	$2.0B 19.5%	$1.7B 27.5%	$1.3B -14.1%	$1.5B -1.0%	$1.5B 25.3%	$1.2B 34.0%	$920.0M
Inventory	$240.0M 20.0%	$200.0M -2.4%	$205.0M -11.6%	$232.0M 41.5%	$164.0M 31.2%	$125.0M 4.2%	$120.0M 10.1%	$109.0M 45.3%	$75.0M 10.3%	$68.0M
Prepaid Expenses	$399.0M 69.8%	$235.0M 74.1%	$135.0M -64.6%	$381.0M 129.5%	$166.0M -55.7%	$375.0M 167.9%	$140.0M 118.8%	$64.0M -42.9%	$112.0M 83.6%	$61.0M
Total Current Assets	$3.6B 11.0%	$3.2B 10.8%	$2.9B 7.7%	$2.7B 26.6%	$2.2B 6.6%	$2.0B 9.5%	$1.8B 4.6%	$1.8B -0.6%	$1.8B 30.2%	$1.4B
Operating Lease Assets	$1.4B 4.3%	$1.3B 21.7%	$1.1B 34.2%	$819.0M 4.5%	$784.0M 14.0%	$688.0M 2.8%	$669.0M	—	—	—
Goodwill	$7.1B 3.2%	$6.9B 16.2%	$5.9B -1.4%	$6.0B 9.0%	$5.5B 7.0%	$5.2B 0.3%	$5.2B 1.9%	$5.1B 23.9%	$4.1B 25.2%	$3.3B
Intangible Assets	$477.0M -28.1%	$663.0M -1.0%	$670.0M 48.2%	$452.0M -26.5%	$615.0M -5.1%	$648.0M -27.6%	$895.0M -17.4%	$1.1B 23.9%	$875.0M 17.9%	$742.0M
Other Noncurrent Assets	$64.0M 30.6%	$49.0M 14.0%	$43.0M -8.5%	$47.0M 11.9%	$42.0M 10.5%	$38.0M 100.0%	$19.0M 18.8%	$16.0M -99.8%	$7.8B 26.5%	$6.2B
Total Assets	$29.9B 6.0%	$28.2B 10.1%	$25.6B 5.8%	$24.2B 19.2%	$20.3B 13.6%	$17.9B -5.8%	$19.0B 4.6%	$18.1B 20.6%	$15.0B 25.4%	$12.0B
Liabilities
Accounts Payable	$776.0M 3.7%	$748.0M -17.3%	$905.0M -20.5%	$1.1B 39.6%	$816.0M 75.1%	$466.0M 2.6%	$454.0M -15.3%	$536.0M 31.1%	$409.0M 68.3%	$243.0M
Accrued Liabilities	$1.5B 4.9%	$1.4B 10.3%	$1.3B 10.7%	$1.1B 30.0%	$881.0M 22.4%	$720.0M -3.6%	$747.0M 10.3%	$677.0M 26.3%	$536.0M 55.8%	$344.0M
Current Portion of Long Term Debt	$1.6B 33.9%	$1.2B -19.6%	$1.5B 809.9%	$161.0M -82.2%	$906.0M 28.7%	$704.0M -29.4%	$997.0M 10.4%	$903.0M 24.9%	$723.0M 21.1%	$597.0M
Total Current Liabilities	$3.8B 14.9%	$3.3B -8.6%	$3.6B 48.8%	$2.4B -6.1%	$2.6B 37.7%	$1.9B -14.0%	$2.2B 3.9%	$2.1B 26.9%	$1.7B 40.9%	$1.2B
Long Term Debt	$12.7B 3.5%	$12.2B 21.6%	$10.1B -10.3%	$11.2B 27.7%	$8.8B -2.2%	$9.0B -13.9%	$10.4B -3.8%	$10.8B 24.4%	$8.7B 21.2%	$7.2B
Operating Lease Liabilities Noncurrent	$1.1B 3.2%	$1.1B 21.7%	$895.0M 39.4%	$642.0M 3.4%	$621.0M 13.1%	$549.0M 3.0%	$533.0M	—	—	—
Deferred Tax Liabilities	$3.1B 16.0%	$2.7B -0.6%	$2.7B 1.1%	$2.7B 24.0%	$2.2B 21.8%	$1.8B -6.3%	$1.9B 11.9%	$1.7B 18.9%	$1.4B -25.2%	$1.9B
Other Noncurrent Liabilities	$188.0M -13.0%	$216.0M 24.9%	$173.0M 12.3%	$154.0M 6.9%	$144.0M 4.3%	$138.0M 51.6%	$91.0M 9.6%	$83.0M -30.8%	$120.0M 79.1%	$67.0M
Total Liabilities	$20.9B 6.9%	$19.5B 11.9%	$17.5B 2.0%	$17.1B 19.7%	$14.3B 7.3%	$13.3B -12.0%	$15.1B 2.8%	$14.7B 23.5%	$11.9B 15.3%	$10.3B
Equity
Common Stock	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M 0.0%	$1.0M
Additional Paid In Capital	$2.8B 2.9%	$2.7B 1.5%	$2.6B 0.9%	$2.6B 2.3%	$2.6B 3.4%	$2.5B 1.7%	$2.4B 1.3%	$2.4B 2.2%	$2.4B 3.0%	$2.3B
Retained Earnings	$15.8B 14.7%	$13.8B 18.3%	$11.7B 20.9%	$9.7B 27.9%	$7.6B 22.5%	$6.2B 16.9%	$5.3B 28.6%	$4.1B 36.5%	$3.0B 81.7%	$1.7B
Treasury Stock	$9.4B 25.6%	$7.5B 25.4%	$6.0B 20.3%	$5.0B 25.3%	$4.0B 0.0%	$4.0B 6.9%	$3.7B 28.9%	$2.9B 36.3%	$2.1B 1.3%	$2.1B
Accumulated Other Comprehensive Income	$-249.0M 38.5%	$-405.0M -77.6%	$-228.0M 13.6%	$-264.0M -54.4%	$-171.0M -17.1%	$-146.0M 21.5%	$-186.0M 21.5%	$-237.0M -57.0%	$-151.0M 30.7%	$-218.0M
Total Stockholders Equity	$9.0B 4.0%	$8.6B 6.1%	$8.1B 15.1%	$7.1B 17.9%	$6.0B 31.8%	$4.5B 18.7%	$3.8B 12.5%	$3.4B 9.6%	$3.1B 88.5%	$1.6B
Total Liabilitiesand Equity	$29.9B 6.0%	$28.2B 10.1%	$25.6B 5.8%	$24.2B 19.2%	$20.3B 13.6%	$17.9B -5.8%	$19.0B 4.6%	$18.1B 20.6%	$15.0B 25.4%	$12.0B

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $16.1B

Operating income $4.0B

Net income $2.5B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	$16.1B 4.9%	$15.3B 7.1%	$14.3B 23.1%	$11.6B 19.8%	$9.7B 13.9%	$8.5B -8.8%	$9.4B 16.2%	$8.0B 21.2%	$6.6B 15.3%	$5.8B
Expenses Cost of Revenue	$10.0B 8.3%	$9.2B 7.9%	$8.5B 28.2%	$6.6B 13.4%	$5.9B 9.7%	$5.3B -5.9%	$5.7B 21.3%	$4.7B 20.9%	$3.9B 15.3%	$3.4B
Other Income Expense Gross Profit	$6.1B -0.1%	$6.2B 5.8%	$5.8B 16.4%	$5.0B 29.7%	$3.9B 21.0%	$3.2B -13.3%	$3.7B 9.1%	$3.4B 21.5%	$2.8B 15.2%	$2.4B
Expenses Selling,General and Administrative	$1.7B 5.3%	$1.6B 7.7%	$1.5B 9.1%	$1.4B 16.8%	$1.2B 22.5%	$979.0M -10.3%	$1.1B 5.2%	$1.0B 15.0%	$903.0M 25.6%	$719.0M
Expenses Depreciation and Amortization	$438.0M 0.2%	$437.0M 1.4%	$431.0M 18.4%	$364.0M -2.2%	$372.0M -3.9%	$387.0M -4.9%	$407.0M 32.1%	$308.0M 18.9%	$259.0M 1.6%	$255.0M
Expenses Restructuring and Asset Impairment	$1.0M -66.7%	$3.0M -89.3%	$28.0M	$0 -100.0%	$2.0M -88.2%	$17.0M -5.6%	$18.0M -41.9%	$31.0M -38.0%	$50.0M 257.1%	$14.0M
Other Income Expense Operating Income	$4.0B -2.3%	$4.1B 6.2%	$3.8B 18.4%	$3.2B 41.9%	$2.3B 26.5%	$1.8B -16.4%	$2.2B 10.3%	$2.0B 29.5%	$1.5B 6.5%	$1.4B
Other Income Expense Other Income/expense	$-635.0M 6.2%	$-677.0M -9.9%	$-616.0M -43.3%	$-430.0M 0.2%	$-431.0M 34.8%	$-661.0M -3.6%	$-638.0M -34.3%	$-475.0M -3.5%	$-459.0M 9.3%	$-506.0M
Other Income Expense Income Before Tax	$3.3B -1.5%	$3.4B 5.5%	$3.2B 14.6%	$2.8B 51.8%	$1.8B 62.1%	$1.1B -24.8%	$1.5B 2.6%	$1.5B 40.8%	$1.0B 15.3%	$909.0M
Income Tax Income Tax Expense	$844.0M 3.8%	$813.0M 3.3%	$787.0M 12.9%	$697.0M 51.5%	$460.0M 84.7%	$249.0M -26.8%	$340.0M -10.5%	$380.0M 227.5%	$-298.0M -186.9%	$343.0M
net Income net Income	$2.5B -3.1%	$2.6B 6.2%	$2.4B 15.2%	$2.1B 51.9%	$1.4B 55.7%	$890.0M -24.2%	$1.2B 7.1%	$1.1B -18.6%	$1.3B 137.8%	$566.0M
net Income Comprehensive Income	$2.6B 10.5%	$2.4B -2.5%	$2.5B 22.3%	$2.0B 47.8%	$1.4B 46.3%	$930.0M -24.1%	$1.2B 21.3%	$1.0B -28.5%	$1.4B 136.3%	$598.0M
Earnings Per Share Basic Eps	$39 -0.3%	$39 9.7%	$35 18.9%	$30 55.5%	$19 56.4%	$12 -19.4%	$15 14.5%	$13 -16.7%	$16 145.1%	$6
Earnings Per Share Diluted Eps	$39 -0.2%	$39 9.7%	$35 19.0%	$30 55.7%	$19 56.1%	$12 -19.3%	$15 15.2%	$13 -16.6%	$16 143.9%	$6

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $5.2B

Investing cash flow $-3.4B

Financing cash flow $-1.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	$2.5B -3.1%	$2.6B 6.2%	$2.4B 15.2%	$2.1B 51.9%	$1.4B 55.7%	$890.0M -24.2%	$1.2B 7.1%	$1.1B -18.6%	$1.3B 137.8%	$566.0M
Operating Activities Depreciation and Amortization	$3.1B 7.1%	$2.9B 4.4%	$2.8B 25.4%	$2.2B 11.8%	$2.0B -0.3%	$2.0B -2.5%	$2.0B 22.0%	$1.7B 20.8%	$1.4B 11.1%	$1.2B
Operating Activities Stock Based Compensation	$134.0M 19.6%	$112.0M 19.1%	$94.0M -26.0%	$127.0M 6.7%	$119.0M 70.0%	$70.0M 14.8%	$61.0M -40.2%	$102.0M 17.2%	$87.0M 93.3%	$45.0M
Operating Activities Deferred Income Taxes	$405.0M 2231.6%	$-19.0M -154.3%	$35.0M -93.5%	$537.0M 100.4%	$268.0M 321.5%	$-121.0M -159.3%	$204.0M -20.6%	$257.0M 148.2%	$-533.0M -533.3%	$123.0M
Operating Activities Changes In Operating Assets and Liabilities	$-279.0M -4.9%	$-266.0M -253.8%	$173.0M 620.8%	$24.0M -93.2%	$351.0M 11800.0%	$-3.0M 98.5%	$-205.0M -345.7%	$-46.0M -675.0%	$8.0M -93.1%	$116.0M
Operating Activities Other Non Cash Items	$-672.0M 11.5%	$-759.0M 5.5%	$-803.0M -39.2%	$-577.0M -38.0%	$-418.0M -151.8%	$-166.0M 33.1%	$-248.0M -9.3%	$-227.0M -176.8%	$-82.0M 46.8%	$-154.0M
Operating Activities net Cash From Operating Activities	$5.2B 14.2%	$4.5B -3.4%	$4.7B 6.1%	$4.4B 20.2%	$3.7B 38.8%	$2.7B -12.1%	$3.0B 6.0%	$2.9B 29.2%	$2.2B 13.8%	$1.9B
Investing Activities Capital Expenditures	$-4.5B -9.7%	$-4.1B -1.4%	$-4.1B -10.3%	$-3.7B -15.4%	$-3.2B -176.2%	$-1.2B 50.7%	$-2.4B -2.6%	$-2.3B -21.3%	$-1.9B -41.1%	$-1.3B
Investing Activities Business Acquisitions	$-357.0M 78.4%	$-1.7B -188.3%	$-574.0M 75.5%	$-2.3B -63.0%	$-1.4B -71700.0%	$-2.0M 99.2%	$-249.0M 91.6%	$-3.0B -24.8%	$-2.4B -8389.3%	$-28.0M
Investing Activities Purchases of Investments	$-3.0M 40.0%	$-5.0M -25.0%	$-4.0M 42.9%	$-7.0M	$0 100.0%	$-3.0M 0.0%	$-3.0M 0.0%	$-3.0M 40.0%	$-5.0M -150.0%	$-2.0M
Investing Activities Other Investing Activities	$1.5B -7.3%	$1.6B -2.0%	$1.7B 63.8%	$1.0B -0.2%	$1.0B 8.8%	$940.0M 5.4%	$892.0M 25.8%	$709.0M 20.8%	$587.0M 12.5%	$522.0M
Investing Activities net Cash From Investing Activities	$-3.4B 18.8%	$-4.1B -39.4%	$-3.0B 40.7%	$-5.0B -38.9%	$-3.6B -1519.3%	$-223.0M 87.0%	$-1.7B 62.4%	$-4.6B -23.5%	$-3.7B -334.9%	$-847.0M
Financing Activities Proceeds From Debt	$11.2B -3.7%	$11.6B 35.4%	$8.6B -13.2%	$9.9B 18.2%	$8.4B -9.7%	$9.3B 0.0%	$9.3B -24.0%	$12.2B 3.2%	$11.8B 34.8%	$8.8B
Financing Activities Repayment of Debt	$-10.5B -6.8%	$-9.9B -15.0%	$-8.6B -4.0%	$-8.2B 2.6%	$-8.5B 24.7%	$-11.2B -16.2%	$-9.7B 2.7%	$-9.9B 2.6%	$-10.2B -10.7%	$-9.2B
Financing Activities Repurchase of Common Stock	$-2.0B -25.3%	$-1.6B -46.8%	$-1.1B -0.2%	$-1.1B -3041.2%	$-34.0M 88.1%	$-286.0M 67.1%	$-870.0M -6.5%	$-817.0M -1358.9%	$-56.0M 89.4%	$-528.0M
Financing Activities Dividends Paid	$-464.0M -6.9%	$-434.0M -6.9%	$-406.0M	$0	$0	—	—	—	—	—
Financing Activities Other Financing Activities	$-61.0M -258.8%	$-17.0M	$0 100.0%	$-24.0M -200.0%	$-8.0M 65.2%	$-23.0M 17.9%	$-28.0M -16.7%	$-24.0M 45.5%	$-44.0M -83.3%	$-24.0M
Financing Activities net Cash From Financing Activities	$-1.8B -571.9%	$-274.0M 81.4%	$-1.5B -367.0%	$552.0M 494.3%	$-140.0M 93.9%	$-2.3B -75.7%	$-1.3B -193.4%	$1.4B -6.7%	$1.5B 255.3%	$-964.0M
Cash Reconciliation Effect of Exchange Rate On Cash	$22.0M 173.3%	$-30.0M -1100.0%	$3.0M 142.9%	$-7.0M -275.0%	$4.0M -50.0%	$8.0M	$0 100.0%	$-8.0M -144.4%	$18.0M 500.0%	$3.0M
Cash Reconciliation net Change In Cash	$2.0M -97.9%	$94.0M -63.4%	$257.0M 776.3%	$-38.0M 34.5%	$-58.0M -138.7%	$150.0M 1566.7%	$9.0M 102.9%	$-309.0M -872.5%	$40.0M -69.9%	$133.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+38.2%	+40.1%	+40.6%	+42.9%	+39.7%	+37.3%	+39.2%	+41.8%	+41.7%	+41.7%
Operating margin	+24.7%	+26.5%	+26.7%	+27.8%	+23.4%	+21.1%	+23.0%	+24.2%	+22.7%	+24.6%
Net margin	+15.5%	+16.8%	+16.9%	+18.1%	+14.3%	+10.4%	+12.6%	+13.6%	+20.3%	+9.8%
FCF margin	+4.1%	+2.7%	+4.4%	+6.4%	+5.1%	+17.6%	+7.2%	+7.0%	+4.8%	+10.4%
Growth
Revenue CAGR (3y)	+11.4%	+16.5%	+18.9%	+7.6%	+6.5%	+8.7%	+17.5%	+11.4%	+5.3%	+5.2%
Returns
ROE	+27.8%	+29.9%	+29.8%	+29.8%	+23.1%	+19.6%	+30.7%	+32.2%	+43.3%	+34.3%
ROA	+8.4%	+9.1%	+9.5%	+8.7%	+6.8%	+5.0%	+6.2%	+6.0%	+9.0%	+4.7%
ROIC	+13.1%	+14.3%	+15.0%	+13.2%	+11.0%	+10.0%	+11.0%	+9.6%	+12.4%	+9.7%
Liquidity
Current ratio	0.94x	0.98x	0.81x	1.11x	0.83x	1.07x	0.84x	0.83x	1.06x	1.15x
Quick ratio	0.78x	0.85x	0.71x	0.86x	0.70x	0.80x	0.72x	0.75x	0.95x	1.04x
Leverage
D/E	2.33x	2.27x	2.15x	2.42x	2.39x	2.93x	3.95x	4.33x	3.84x	6.27x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.54x	0.54x	0.56x	0.48x	0.48x	0.48x	0.49x	0.44x	0.44x	0.48x
Cash conversion cycle	+37d	+34d	+27d	+13d	+22d	+33d	+38d	+37d	+36d	+39d

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United Rentals

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