Cash flow United Rentals, Inc.

Stocks

URI

US9113631090

Business Support Services

Real-time Estimate Cboe BZX 10:31:18 2026-08-24 EDT			5-day change	1st Jan Change
1,099.05 ^USD	+0.05%		-6.59%	+34.44%

08-11	Evercore ISI Adjusts PT on United Rentals to $1,262 From $1,101, Keeps Outperform Rating	MT
07-28	CICC Adjusts Price Target on United Rentals to $1,187 From $1,044, Maintains Outperform Rating	MT

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Published financial data: UNITED RENTALS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	9.72B	11.64B	14.33B	15.34B	16.1B
Total Revenues	9.72B	11.64B	14.33B	15.34B	16.1B
Cost of Goods Sold, Total	5.83B	6.62B	8.41B	9.13B	9.92B
Gross Profit	3.89B	5.02B	5.92B	6.21B	6.18B
Selling General & Admin Expenses, Total	1.2B	1.4B	1.53B	1.64B	1.72B
Depreciation & Amortization - (IS)	372M	364M	431M	437M	438M
Other Operating Expenses, Total	1.57B	1.76B	1.96B	2.08B	2.16B
Operating Income	2.32B	3.26B	3.96B	4.13B	4.02B
Interest Expense, Total	-394M	-428M	-635M	-691M	-703M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-394M	-428M	-635M	-691M	-703M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-7M	15M	19M	14M	17M
EBT, Excl. Unusual Items	1.92B	2.85B	3.35B	3.45B	3.33B
Restructuring Charges	-2M	-	-28M	-3M	-1M
Merger & Related Restructuring Charges	-3M	-	-	-	39M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-67M	-44M	-108M	-63M	-31M
EBT, Incl. Unusual Items	1.85B	2.8B	3.21B	3.39B	3.34B
Income Tax Expense	460M	697M	787M	813M	844M
Earnings From Continuing Operations	1.39B	2.1B	2.42B	2.58B	2.49B
Net Income to Company	1.39B	2.1B	2.42B	2.58B	2.49B
Net Income - (IS)	1.39B	2.1B	2.42B	2.58B	2.49B
Net Income to Common Incl Extra Items	1.39B	2.1B	2.42B	2.58B	2.49B
Net Income to Common Excl. Extra Items	1.39B	2.1B	2.42B	2.58B	2.49B
Per Share Items
Net EPS - Basic	19.14	29.77	35.4	38.81	38.7
Basic EPS - Continuing Operations	19.14	29.77	35.4	38.81	38.7
Basic Weighted Average Shares Outstanding	72.43M	70.7M	68.47M	66.34M	64.44M
Net EPS - Diluted	19.04	29.65	35.28	38.69	38.61
Diluted EPS - Continuing Operations	19.04	29.65	35.28	38.69	38.61
Diluted Weighted Average Shares Outstanding	72.82M	70.97M	68.71M	66.57M	64.6M
Normalized Basic EPS	16.55	25.16	30.55	32.54	32.31
Normalized Diluted EPS	16.46	25.06	30.44	32.43	32.23
Dividend Per Share	-	-	5.92	6.52	7.16
Payout Ratio	-	-	16.75	16.85	18.6
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	2.69B	3.62B	4.39B	4.57B	4.46B
EBITA	2.55B	3.48B	4.23B	4.39B	4.26B
EBIT	2.32B	3.26B	3.96B	4.13B	4.02B
EBITDAR	2.94B	3.89B	4.78B	4.97B	4.92B
Total Revenues (As Reported)	9.72B	11.64B	14.33B	15.34B	16.1B
Effective Tax Rate - (Ratio)	24.92	24.88	24.51	24	25.28
Current Domestic Taxes	166M	60M	686M	768M	373M
Current Foreign Taxes	26M	100M	66M	64M	66M
Total Current Taxes	192M	160M	752M	832M	439M
Deferred Domestic Taxes	254M	553M	22M	-18M	402M
Deferred Foreign Taxes	14M	-16M	13M	-1M	3M
Total Deferred Taxes	268M	537M	35M	-19M	405M
Normalized Net Income	1.2B	1.78B	2.09B	2.16B	2.08B
Interest on Long-Term Debt	4M	5M	8M	12M	17M
Supplemental Operating Expense Items
Net Rental Expense, Total	250M	270M	388M	406M	461M
Imputed Operating Lease Interest Expense	75.34M	81.34M	158M	164M	170M
Imputed Operating Lease Depreciation	175M	189M	230M	242M	291M
Maintenance & Repair Expenses, Total	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	119M	-	-	-	-
Stock-Based Comp., Other (Total)	-	127M	94M	112M	134M
Total Stock-Based Compensation	119M	127M	94M	112M	134M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	144M	106M	363M	457M	459M
Total Cash And Short Term Investments	144M	106M	363M	457M	459M
Accounts Receivable, Total	1.68B	2B	2.23B	2.36B	2.51B
Other Receivables	24M	260M	27M	92M	-
Total Receivables	1.7B	2.26B	2.26B	2.45B	2.51B
Inventory	164M	232M	205M	200M	240M
Prepaid Expenses	29M	31M	29M	46M	399M
Other Current Assets, Total	113M	90M	79M	97M	-
Total Current Assets	2.15B	2.72B	2.93B	3.25B	3.61B
Gross Property Plant And Equipment	2.26B	2.64B	3.09B	3.54B	3.84B
Accumulated Depreciation	-868M	-980M	-1.08B	-1.17B	-1.31B
Net Property Plant And Equipment	1.4B	1.66B	2B	2.37B	2.53B
Goodwill	5.53B	6.03B	5.94B	6.9B	7.12B
Other Intangibles, Total	615M	452M	670M	663M	477M
Other Long-Term Assets, Total	10.6B	13.32B	14.04B	14.98B	16.13B
Total Assets	20.29B	24.18B	25.59B	28.16B	29.87B
Liabilities
Accounts Payable, Total	816M	1.14B	905M	748M	776M
Accrued Expenses, Total	501M	660M	691M	678M	726M
Short-term Borrowings	-	100M	100M	-	-
Current Portion of Long-Term Debt	853M	10M	1.31B	1.1B	1.47B
Current Portion of Leases	255M	262M	304M	377M	425M
Unearned Revenue Current, Total	83M	131M	138M	185M	175M
Other Current Liabilities	95M	143M	189M	240M	248M
Total Current Liabilities	2.6B	2.44B	3.64B	3.32B	3.82B
Long-Term Debt	8.7B	11.14B	9.92B	12.05B	12.43B
Long-Term Leases	703M	714M	1.03B	1.27B	1.35B
Deferred Tax Liability Non Current	2.15B	2.67B	2.7B	2.68B	3.12B
Other Non Current Liabilities	144M	154M	173M	216M	188M
Total Liabilities	14.3B	17.12B	17.46B	19.54B	20.9B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	2.57B	2.63B	2.65B	2.69B	2.77B
Retained Earnings	7.55B	9.66B	11.67B	13.81B	15.84B
Treasury Stock	-3.96B	-4.96B	-5.96B	-7.48B	-9.4B
Comprehensive Income and Other	-171M	-264M	-228M	-405M	-249M
Total Common Equity	5.99B	7.06B	8.13B	8.62B	8.97B
Total Equity	5.99B	7.06B	8.13B	8.62B	8.97B
Total Liabilities And Equity	20.29B	24.18B	25.59B	28.16B	29.87B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	72.42M	69.36M	67.19M	65.31M	63M
ECS Total Common Shares Outstanding	72.42M	69.36M	67.27M	65.31M	63.1M
Book Value / Share	82.73	101.82	120.86	132.03	142.13
Tangible Book Value	-152M	584M	1.52B	1.06B	1.37B
Tangible Book Value Per Share	-2.1	8.42	22.6	16.22	21.74
Total Debt	10.51B	12.22B	12.66B	14.79B	15.67B
Net Debt	10.36B	12.12B	12.3B	14.33B	15.21B
Debt Equivalent Oper. Leases	2B	2.16B	3.1B	3.25B	3.69B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	117M	131M	157M	170M	186M
Buildings, Total	199M	205M	230M	239M	-
Machinery, Total	706M	934M	960M	1.1B	884M
Full Time Employees	20.4K	24.6K	26.3K	27.9K	28.5K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	112M	134M	169M	186M	180M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	1.39B	2.1B	2.42B	2.58B	2.49B
Depreciation & Amortization - CF	139M	145M	160M	179M	200M
Amortization of Goodwill and Intangible Assets - (CF)	233M	219M	271M	258M	238M
Depreciation & Amortization, Total	372M	364M	431M	437M	438M
Amortization of Deferred Charges, Total - (CF)	1.62B	1.87B	2.36B	2.48B	2.68B
(Gain) Loss From Sale Of Asset	-441M	-575M	-807M	-727M	-653M
Asset Writedown & Restructuring Costs	2M	-	28M	3M	1M
Stock-Based Compensation (CF)	119M	127M	94M	112M	134M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	276M	522M	-3M	-69M	370M
Change In Accounts Receivable	-300M	-329M	-167M	-20M	-120M
Change In Inventories	9M	-25M	19M	15M	-38M
Change In Accounts Payable	307M	304M	-45M	-203M	-22M
Change in Other Net Operating Assets	335M	74M	366M	-58M	-99M
Cash from Operations	3.69B	4.43B	4.7B	4.55B	5.19B
Capital Expenditure	-2.23B	-2.72B	-2.5B	-2.61B	-3.12B
Sale of Property, Plant, and Equipment	30M	24M	60M	67M	56M
Cash Acquisitions	-1.44B	-2.34B	-574M	-1.66B	-357M
Investment in Marketable and Equity Securities, Total	-	-7M	-4M	-5M	-3M
Other Investing Activities, Total	25M	32M	38M	51M	50M
Cash from Investing	-3.61B	-5.02B	-2.98B	-4.15B	-3.37B
Long-Term Debt Issued, Total	8.36B	9.88B	8.58B	11.61B	11.18B
Total Debt Issued	8.36B	9.88B	8.58B	11.61B	11.18B
Long-Term Debt Repaid, Total	-8.46B	-8.24B	-8.57B	-9.86B	-10.53B
Total Debt Repaid	-8.46B	-8.24B	-8.57B	-9.86B	-10.53B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-34M	-1.07B	-1.07B	-1.57B	-1.97B
Common Dividends Paid	-	-	-406M	-434M	-464M
Common & Preferred Stock Dividends Paid	-	-	-406M	-434M	-464M
Other Financing Activities, Total	-8M	-24M	-	-17M	-61M
Cash from Financing	-140M	552M	-1.47B	-274M	-1.84B
Foreign Exchange Rate Adjustments	4M	-7M	3M	-30M	22M
Net Change in Cash	-58M	-38M	257M	94M	2M
Supplemental Items
Cash Interest Paid	391M	406M	614M	674M	703M
Cash Income Tax Paid (Refund)	202M	326M	493M	994M	602M
Levered Free Cash Flow	1.38B	1.37B	2.37B	2.28B	1.93B
Unlevered Free Cash Flow	1.62B	1.62B	2.75B	2.7B	2.35B
Change In Net Working Capital	-295M	32M	103M	294M	283M
Net Debt Issued / Repaid	-98M	1.64B	2M	1.75B	653M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.6	9.16	9.95	9.61	8.65
Return on Total Capital	9.22	11.38	12.36	11.68	10.45
Return On Equity %	26.31	32.25	31.91	30.74	28.36
Return on Common Equity	26.31	32.25	31.91	30.74	28.36
Margin Analysis
Gross Profit Margin %	40.04	43.15	41.31	40.49	38.36
SG&A Margin	12.34	12.03	10.65	10.72	10.68
EBITDA Margin %	27.7	31.12	30.66	29.77	27.67
EBITA Margin %	26.27	29.87	29.54	28.6	26.43
EBIT Margin %	23.87	27.99	27.65	26.92	24.95
Income From Continuing Operations Margin %	14.27	18.08	16.91	16.78	15.49
Net Income Margin %	14.27	18.08	16.91	16.78	15.49
Net Avail. For Common Margin %	14.27	18.08	16.91	16.78	15.49
Normalized Net Income Margin	12.34	15.28	14.6	14.07	12.93
Levered Free Cash Flow Margin	14.24	11.76	16.54	14.86	11.99
Unlevered Free Cash Flow Margin	16.64	13.95	19.21	17.57	14.63
Asset Turnover
Asset Turnover	0.51	0.52	0.58	0.57	0.55
Fixed Assets Turnover	7.23	7.62	7.83	7.02	6.57
Receivables Turnover (Average Receivables)	6.49	6.33	6.77	6.69	6.62
Inventory Turnover (Average Inventory)	40.32	33.43	38.49	45.1	45.11
Short Term Liquidity
Current Ratio	0.83	1.11	0.81	0.98	0.94
Quick Ratio	0.71	0.97	0.72	0.87	0.78
Operating Cash Flow to Current Liabilities	1.42	1.81	1.29	1.37	1.36
Days Sales Outstanding (Average Receivables)	56.2	57.7	53.91	54.7	55.17
Days Outstanding Inventory (Average Inventory)	9.05	10.92	9.48	8.12	8.09
Average Days Payable Outstanding	39.89	53.36	44.49	33.14	27.91
Cash Conversion Cycle (Average Days)	25.36	15.27	18.9	29.68	35.35
Long Term Solvency
Total Debt/Equity	175.4	173.08	155.74	171.53	174.73
Total Debt / Total Capital	63.69	63.38	60.9	63.17	63.6
LT Debt/Equity	156.9	167.81	134.66	154.45	153.61
Long-Term Debt / Total Capital	56.97	61.45	52.65	56.88	55.91
Total Liabilities / Total Assets	70.48	70.8	68.23	69.39	69.97
EBIT / Interest Expense	5.89	7.61	6.24	5.98	5.71
EBITDA / Interest Expense	7.46	9.1	7.53	7.2	6.99
(EBITDA - Capex) / Interest Expense	1.8	2.73	3.6	3.43	2.56
Total Debt / EBITDA	3.57	3.14	2.65	2.97	3.19
Net Debt / EBITDA	3.52	3.11	2.57	2.88	3.09
Total Debt / (EBITDA - Capex)	14.78	10.46	5.54	6.25	8.7
Net Debt / (EBITDA - Capex)	14.58	10.37	5.38	6.05	8.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	13.9	19.82	23.11	7.07	4.91
Gross Profit, 1 Yr. Growth %	20.36	29.13	17.88	4.93	-0.61
EBITDA, 1 Yr. Growth %	17.87	34.63	21.28	3.96	-2.47
EBITA, 1 Yr. Growth %	18.92	36.29	21.74	3.66	-3.05
EBIT, 1 Yr. Growth %	22.31	40.53	21.6	4.24	-2.76
Earnings From Cont. Operations, 1 Yr. Growth %	55.73	51.88	15.15	6.23	-3.15
Net Income, 1 Yr. Growth %	55.73	51.88	15.15	6.23	-3.15
Normalized Net Income, 1 Yr. Growth %	35.26	48.38	17.6	3.2	-3.56
Diluted EPS Before Extra, 1 Yr. Growth %	56.07	55.72	18.99	9.67	-0.21
Accounts Receivable, 1 Yr. Growth %	27.53	19.5	11.28	5.7	6.49
Inventory, 1 Yr. Growth %	31.2	41.46	-11.64	-2.44	20
Net Property, Plant and Equip., 1 Yr. Growth %	8.05	18.77	20.75	18.43	6.66
Total Assets, 1 Yr. Growth %	13.57	19.18	5.81	10.06	6.05
Tangible Book Value, 1 Yr. Growth %	-88.04	-484.21	160.27	-30.33	29.56
Common Equity, 1 Yr. Growth %	31.82	17.88	15.12	6.05	4.01
Cash From Operations, 1 Yr. Growth %	38.79	20.17	6.11	-3.36	14.17
Capital Expenditures, 1 Yr. Growth %	643.33	22.2	-8.4	4.41	19.53
Levered Free Cash Flow, 1 Yr. Growth %	-47.07	-0.99	73.07	-3.8	-15.34
Unlevered Free Cash Flow, 1 Yr. Growth %	-44.32	0.46	69.52	-2.03	-12.69
Dividend Per Share, 1 Yr. Growth %	-	-	-	10.14	9.82
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.93	16.83	21.45	14.81	5.99
Gross Profit, 2 Yr. CAGR %	1.92	24.67	23.37	11.22	2.12
EBITDA, 2 Yr. CAGR %	0.71	26.81	27.78	12.29	0.69
EBITA, 2 Yr. CAGR %	0.32	28.21	28.81	12.34	0.25
EBIT, 2 Yr. CAGR %	1.61	32.16	30.73	12.59	0.68
Earnings From Cont. Operations, 2 Yr. CAGR %	8.65	53.79	32.25	10.6	1.43
Net Income, 2 Yr. CAGR %	8.65	53.79	32.25	10.6	1.43
Normalized Net Income, 2 Yr. CAGR %	9.21	53.68	32.1	10.5	-0.24
Diluted EPS Before Extra, 2 Yr. CAGR %	12.25	55.9	36.12	14.23	4.61
Accounts Receivable, 2 Yr. CAGR %	4.69	23.45	15.32	8.45	6.09
Inventory, 2 Yr. CAGR %	16.9	36.24	11.8	-7.15	8.2
Net Property, Plant and Equip., 2 Yr. CAGR %	4.72	13.28	19.75	19.58	12.39
Total Assets, 2 Yr. CAGR %	3.43	16.34	12.3	7.92	8.03
Tangible Book Value, 2 Yr. CAGR %	-73.83	-32.22	216.23	34.66	-4.99
Common Equity, 2 Yr. CAGR %	25.07	24.65	16.49	10.49	5.03
Cash From Operations, 2 Yr. CAGR %	10.45	29.14	12.92	1.27	5.04
Capital Expenditures, 2 Yr. CAGR %	21.16	201.39	5.8	-2.21	11.71
Levered Free Cash Flow, 2 Yr. CAGR %	1.91	-25.69	30.9	29.54	-9.75
Unlevered Free Cash Flow, 2 Yr. CAGR %	-3.11	-24.97	30.5	28.87	-7.52
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	9.98
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.48	7.58	18.88	16.46	11.41
Gross Profit, 3 Yr. CAGR %	4.28	10.28	22.36	16.89	7.13
EBITDA, 3 Yr. CAGR %	4	10.95	24.94	19.29	7.13
EBITA, 3 Yr. CAGR %	3.57	11.1	26.01	19.81	6.95
EBIT, 3 Yr. CAGR %	3.63	13.21	28.54	21.22	7.22
Earnings From Cont. Operations, 3 Yr. CAGR %	8.14	21.49	39.65	22.93	5.82
Net Income, 3 Yr. CAGR %	8.14	21.49	39.65	22.93	5.82
Normalized Net Income, 3 Yr. CAGR %	6.03	20.96	40.57	21.66	5.6
Diluted EPS Before Extra, 3 Yr. CAGR %	13.22	25.19	42.47	26.66	9.2
Accounts Receivable, 3 Yr. CAGR %	2.77	9.41	19.25	12.01	7.79
Inventory, 3 Yr. CAGR %	14.59	24.58	17.93	6.84	1.14
Net Property, Plant and Equip., 3 Yr. CAGR %	31.49	9.21	15.72	19.31	15.11
Total Assets, 3 Yr. CAGR %	3.82	8.43	12.72	11.55	7.29
Tangible Book Value, 3 Yr. CAGR %	-61.86	-35.92	6.14	90.99	32.94
Common Equity, 3 Yr. CAGR %	20.75	22.62	21.39	12.9	8.29
Cash From Operations, 3 Yr. CAGR %	8.94	13.6	20.96	7.21	5.4
Capital Expenditures, 3 Yr. CAGR %	11.08	21.51	102.63	5.33	4.56
Levered Free Cash Flow, 3 Yr. CAGR %	6.97	0.93	-1.5	18.13	12.42
Unlevered Free Cash Flow, 3 Yr. CAGR %	4.45	-1.93	-1.54	18.61	13.19
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.02	11.88	12.24	10.41	13.55
Gross Profit, 5 Yr. CAGR %	9.8	11.99	11.54	10.65	13.82
EBITDA, 5 Yr. CAGR %	9.38	13.21	12.93	11.48	14.61
EBITA, 5 Yr. CAGR %	9.27	13.31	13.01	11.59	14.99
EBIT, 5 Yr. CAGR %	9.64	14.05	13.72	12.96	16.57
Earnings From Cont. Operations, 5 Yr. CAGR %	19.62	9.36	17.2	17.01	22.89
Net Income, 5 Yr. CAGR %	19.62	9.36	17.2	17.01	22.89
Normalized Net Income, 5 Yr. CAGR %	12.61	17.26	15.78	16.52	22.55
Diluted EPS Before Extra, 5 Yr. CAGR %	24.17	13.52	21.88	20.69	25.91
Accounts Receivable, 5 Yr. CAGR %	12.76	10.2	7.62	9.03	13.8
Inventory, 5 Yr. CAGR %	19.25	25.34	13.47	10.76	13.94
Net Property, Plant and Equip., 5 Yr. CAGR %	26.56	28.84	26.67	13.25	14.38
Total Assets, 5 Yr. CAGR %	11.1	9.98	7.13	8.22	10.82
Tangible Book Value, 5 Yr. CAGR %	-42.19	-20.6	-11.11	-13.75	1.54
Common Equity, 5 Yr. CAGR %	29.45	17.85	19.03	17.62	14.56
Cash From Operations, 5 Yr. CAGR %	13.7	14.95	10.52	8.49	14.32
Capital Expenditures, 5 Yr. CAGR %	21.48	15.27	8.94	11.4	59.69
Levered Free Cash Flow, 5 Yr. CAGR %	3.91	8.13	15.97	11.35	-4.89
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.08	6.71	14.18	9.39	-3.98