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 revenue.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 3 years

Total assets $29.9B

Total liabilities $20.9B

Shareholders equity $9.0B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	12.4%	12.7%	10.7%
Accounts Receivable	67.9%	65.7%	65.7%
Inventory	6.5%	5.6%	6.0%
Prepaid Expenses	10.8%	6.5%	4.0%
Total Current Assets	97.6%	90.6%	86.4%
Property,Plant and Equipment	0.0%	0.0%	0.0%
Operating Lease Assets	37.8%	37.3%	32.4%
Goodwill	192.7%	192.3%	175.0%
Intangible Assets	12.9%	18.5%	19.7%
Other Noncurrent Assets	1.7%	1.4%	1.3%
Total Assets	808.3%	784.9%	753.7%
Liabilities
Accounts Payable	21.0%	20.8%	26.7%
Accrued Liabilities	39.7%	38.9%	37.3%
Current Portion of Long Term Debt	42.7%	32.8%	43.2%
Other Current Liabilities	5.1%	6.0%	5.1%
Total Current Liabilities	103.4%	92.6%	107.1%
Operating Lease Liabilities Noncurrent	30.4%	30.4%	26.4%
Deferred Tax Liabilities	84.3%	74.8%	79.6%
Other Noncurrent Liabilities	5.1%	6.0%	5.1%
Total Liabilities	565.6%	544.6%	514.3%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	74.9%	75.0%	78.1%
Retained Earnings	428.8%	385.0%	343.8%
Treasury Stock	254.3%	208.4%	175.7%
Accumulated Other Comprehensive Income	-6.7%	-11.3%	-6.7%
Total Stockholders Equity	242.7%	240.3%	239.5%
Total Liabilitiesand Equity	808.3%	784.9%	753.7%

Income Statement

Revenue, expense, and profitability

18 accounts · 3 years

Revenue $3.7B

Operating income $4.0B

Net income $2.5B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	269.4%	256.3%	250.9%
Expenses Selling,General and Administrative	46.9%	45.8%	45.0%
Expenses Depreciation and Amortization	11.9%	12.2%	12.7%
Expenses Share Based Compensation	3.6%	3.1%	2.8%
Expenses Restructuring and Asset Impairment	0.0%	0.1%	0.8%
Other Income Expense Gross Profit	166.3%	171.4%	171.2%
Other Income Expense Operating Income	107.5%	113.3%	112.7%
Other Income Expense Interest Income	-19.4%	-19.3%	-18.7%
Other Income Expense Other Income/expense	2.2%	0.4%	0.6%
Other Income Expense Income Before Tax	90.3%	94.4%	94.6%
Income Tax Income Tax Expense	22.8%	22.7%	23.2%
net Income net Income	67.5%	71.8%	71.4%
net Income Comprehensive Income	71.7%	66.8%	72.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.7%	1.8%	2.0%
Earnings Per Share Weighted Average Shares Diluted	1.7%	1.9%	2.0%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 3 years

Operating cash flow $5.2B

Investing cash flow $-3.4B

Financing cash flow $-1.8B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	67.5%	71.8%	71.4%
Operating Activities Depreciation and Amortization	6.4%	7.2%	8.0%
Operating Activities Stock Based Compensation	3.6%	3.1%	2.8%
Operating Activities Deferred Income Taxes	11.0%	-0.5%	1.0%
Operating Activities Changes In Operating Assets and Liabilities	8.3%	-5.6%	-2.7%
Operating Activities net Cash From Operating Activities	140.5%	126.7%	138.6%
Investing Activities Business Acquisitions	9.7%	46.1%	16.9%
Investing Activities Purchases of Investments	0.1%	0.1%	0.1%
Investing Activities net Cash From Investing Activities	-91.2%	-115.6%	-87.7%
Financing Activities Proceeds From Debt	302.6%	323.6%	252.6%
Financing Activities Repurchase of Common Stock	53.3%	43.8%	31.5%
Financing Activities Dividends Paid	12.6%	12.1%	12.0%
Financing Activities net Cash From Financing Activities	-49.8%	-7.6%	-43.4%
Cash Reconciliation Effect of Exchange Rate On Cash	0.6%	-0.8%	0.1%
Cash Reconciliation net Change In Cash	0.1%	2.6%	7.6%
Cash Reconciliation Cash At Beginning of Period	12.4%	12.7%	10.7%
Cash Reconciliation Cash At End of Period	12.4%	12.7%	10.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	-169.4%	-156.3%	-150.9%
Operating margin	+107.5%	+113.3%	+112.7%
Net margin	+67.5%	+71.8%	+71.4%
FCF margin	—	+11.6%	+24.7%
Growth
Revenue CAGR (3y)	+13.9%	+16.7%	+19.4%
Returns
ROE	+27.8%	+29.9%	+29.8%
ROA	+8.4%	+9.1%	+9.5%
ROIC	+29.4%	+33.1%	+31.3%
Liquidity
Current ratio	0.94x	0.98x	0.81x
Quick ratio	0.78x	0.85x	0.71x
Leverage
D/E	2.33x	2.27x	2.15x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.12x	0.13x	0.13x
Cash conversion cycle	+228d	+218d	+210d

Valuation

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FY2025 fundamentals · no price

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United Rentals

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