Income Statement United Rentals, Inc.

Equities

URI

US9113631090

Business Support Services

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490fdfee8c20d04f5e.UR82WzOguj2sAkElqGJ8kDvaDMHy4xU5cQGARwtO9Ow.AC5RE3D330mVcTh90lAI4E_3WvaxsFBpKUPvEn40g7NjUHwcC-Hpe8hreQ

Published financial data: UNITED RENTALS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	8.53B	9.72B	11.64B	14.33B	15.34B
Total Revenues	8.53B	9.72B	11.64B	14.33B	15.34B
Cost of Goods Sold, Total	5.3B	5.83B	6.62B	8.41B	9.13B
Gross Profit	3.23B	3.89B	5.02B	5.92B	6.21B
Selling General & Admin Expenses, Total	979M	1.2B	1.4B	1.53B	1.64B
Depreciation & Amortization - (IS)	357M	372M	364M	431M	437M
Other Operating Expenses, Total	1.34B	1.57B	1.76B	1.96B	2.08B
Operating Income	1.9B	2.32B	3.26B	3.96B	4.13B
Interest Expense, Total	-486M	-394M	-428M	-635M	-691M
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-486M	-394M	-428M	-635M	-691M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	8M	-7M	15M	19M	14M
EBT, Excl. Unusual Items	1.42B	1.92B	2.85B	3.35B	3.45B
Restructuring Charges	-17M	-2M	-	-28M	-3M
Merger & Related Restructuring Charges	-	-3M	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-30M	-	-	-	-
Other Unusual Items	-232M	-67M	-44M	-108M	-63M
EBT, Incl. Unusual Items	1.14B	1.85B	2.8B	3.21B	3.39B
Income Tax Expense	249M	460M	697M	787M	813M
Earnings From Continuing Operations	890M	1.39B	2.1B	2.42B	2.58B
Net Income to Company	890M	1.39B	2.1B	2.42B	2.58B
Net Income - (IS)	890M	1.39B	2.1B	2.42B	2.58B
Net Income to Common Incl Extra Items	890M	1.39B	2.1B	2.42B	2.58B
Net Income to Common Excl. Extra Items	890M	1.39B	2.1B	2.42B	2.58B
Per Share Items
Net EPS - Basic	12.25	19.14	29.77	35.4	38.81
Basic EPS - Continuing Operations	12.25	19.14	29.77	35.4	38.81
Basic Weighted Average Shares Outstanding	72.66M	72.43M	70.7M	68.47M	66.34M
Net EPS - Diluted	12.2	19.04	29.65	35.28	38.69
Diluted EPS - Continuing Operations	12.2	19.04	29.65	35.28	38.69
Diluted Weighted Average Shares Outstanding	72.93M	72.82M	70.97M	68.71M	66.57M
Normalized Basic EPS	12.2	16.55	25.16	30.55	32.54
Normalized Diluted EPS	12.15	16.46	25.06	30.44	32.43
Dividend Per Share	-	-	-	5.92	6.52
Payout Ratio	-	-	-	16.75	16.85
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	2.28B	2.69B	3.62B	4.39B	4.57B
EBITA	2.15B	2.55B	3.48B	4.23B	4.39B
EBIT	1.9B	2.32B	3.26B	3.96B	4.13B
EBITDAR	2.53B	2.94B	3.89B	4.78B	4.97B
Total Revenues (As Reported)	8.53B	9.72B	11.64B	14.33B	15.34B
Effective Tax Rate - (Ratio)	21.86	24.92	24.88	24.51	24
Current Domestic Taxes	355M	166M	60M	686M	768M
Current Foreign Taxes	15M	26M	100M	66M	64M
Total Current Taxes	370M	192M	160M	752M	832M
Deferred Domestic Taxes	-127M	254M	553M	22M	-18M
Deferred Foreign Taxes	6M	14M	-16M	13M	-1M
Total Deferred Taxes	-121M	268M	537M	35M	-19M
Normalized Net Income	886M	1.2B	1.78B	2.09B	2.16B
Interest on Long-Term Debt	5M	4M	5M	8M	12M
Supplemental Operating Expense Items
Net Rental Expense, Total	243M	250M	270M	388M	406M
Imputed Operating Lease Interest Expense	83.8M	75.34M	81.34M	158M	164M
Imputed Operating Lease Depreciation	159M	175M	189M	230M	242M
Maintenance & Repair Expenses, Total	-	-	-	-	-
Stock-Based Comp., SG&A Exp. (Total)	70M	119M	-	-	-
Stock-Based Comp., Other (Total)	-	-	127M	94M	112M
Total Stock-Based Compensation	70M	119M	127M	94M	112M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	202M	144M	106M	363M	457M
Total Cash And Short Term Investments	202M	144M	106M	363M	457M
Accounts Receivable, Total	1.32B	1.68B	2B	2.23B	2.36B
Other Receivables	15M	24M	260M	27M	92M
Total Receivables	1.33B	1.7B	2.26B	2.26B	2.45B
Inventory	125M	164M	232M	205M	200M
Prepaid Expenses	18M	29M	31M	29M	46M
Other Current Assets, Total	342M	113M	90M	79M	97M
Total Current Assets	2.02B	2.15B	2.72B	2.93B	3.25B
Gross Property Plant And Equipment	2.08B	2.26B	2.64B	3.09B	3.54B
Accumulated Depreciation	-788M	-868M	-980M	-1.08B	-1.17B
Net Property Plant And Equipment	1.29B	1.4B	1.66B	2B	2.37B
Goodwill	5.17B	5.53B	6.03B	5.94B	6.9B
Other Intangibles, Total	648M	615M	452M	670M	663M
Other Long-Term Assets, Total	8.74B	10.6B	13.32B	14.04B	14.98B
Total Assets	17.87B	20.29B	24.18B	25.59B	28.16B
Liabilities
Accounts Payable, Total	466M	816M	1.14B	905M	748M
Accrued Expenses, Total	395M	501M	660M	691M	678M
Short-term Borrowings	-	-	100M	100M	-
Current Portion of Long-Term Debt	644M	853M	10M	1.31B	1.1B
Current Portion of Leases	238M	255M	262M	304M	377M
Unearned Revenue Current, Total	51M	83M	131M	138M	185M
Other Current Liabilities	96M	95M	143M	189M	240M
Total Current Liabilities	1.89B	2.6B	2.44B	3.64B	3.32B
Long-Term Debt	8.9B	8.7B	11.14B	9.92B	12.05B
Long-Term Leases	624M	703M	714M	1.03B	1.27B
Deferred Tax Liability Non Current	1.77B	2.15B	2.67B	2.7B	2.68B
Other Non Current Liabilities	138M	144M	154M	173M	216M
Total Liabilities	13.32B	14.3B	17.12B	17.46B	19.54B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	2.48B	2.57B	2.63B	2.65B	2.69B
Retained Earnings	6.16B	7.55B	9.66B	11.67B	13.81B
Treasury Stock	-3.96B	-3.96B	-4.96B	-5.96B	-7.48B
Comprehensive Income and Other	-146M	-171M	-264M	-228M	-405M
Total Common Equity	4.54B	5.99B	7.06B	8.13B	8.62B
Total Equity	4.54B	5.99B	7.06B	8.13B	8.62B
Total Liabilities And Equity	17.87B	20.29B	24.18B	25.59B	28.16B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	72.2M	72.42M	69.36M	67.19M	65.31M
ECS Total Common Shares Outstanding	72.2M	72.42M	69.36M	67.27M	65.31M
Book Value / Share	62.95	82.73	101.82	120.86	132.03
Tangible Book Value	-1.27B	-152M	584M	1.52B	1.06B
Tangible Book Value Per Share	-17.6	-2.1	8.42	22.6	16.22
Total Debt	10.41B	10.51B	12.22B	12.66B	14.79B
Net Debt	10.21B	10.36B	12.12B	12.3B	14.33B
Debt Equivalent Oper. Leases	1.94B	2B	2.16B	3.1B	3.25B
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	111M	117M	131M	157M	170M
Buildings, Total	196M	199M	205M	230M	239M
Machinery, Total	662M	706M	934M	960M	1.1B
Full Time Employees	18.25K	20.4K	24.6K	26.3K	27.9K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	108M	112M	134M	169M	186M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	890M	1.39B	2.1B	2.42B	2.58B
Depreciation & Amortization - CF	137M	139M	145M	160M	179M
Amortization of Goodwill and Intangible Assets - (CF)	250M	233M	219M	271M	258M
Depreciation & Amortization, Total	387M	372M	364M	431M	437M
Amortization of Deferred Charges, Total - (CF)	1.58B	1.62B	1.87B	2.36B	2.48B
(Gain) Loss From Sale Of Asset	-340M	-441M	-575M	-807M	-727M
Asset Writedown & Restructuring Costs	47M	2M	-	28M	3M
Stock-Based Compensation (CF)	70M	119M	127M	94M	112M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	22M	276M	522M	-3M	-69M
Change In Accounts Receivable	218M	-300M	-329M	-167M	-20M
Change In Inventories	-5M	9M	-25M	19M	15M
Change In Accounts Payable	10M	307M	304M	-45M	-203M
Change in Other Net Operating Assets	-226M	335M	74M	366M	-58M
Cash from Operations	2.66B	3.69B	4.43B	4.7B	4.55B
Capital Expenditure	-300M	-2.23B	-2.72B	-2.5B	-2.61B
Sale of Property, Plant, and Equipment	42M	30M	24M	60M	67M
Cash Acquisitions	-2M	-1.44B	-2.34B	-574M	-1.66B
Investment in Marketable and Equity Securities, Total	-3M	-	-7M	-4M	-5M
Other Investing Activities, Total	40M	25M	32M	38M	51M
Cash from Investing	-223M	-3.61B	-5.02B	-2.98B	-4.15B
Long-Term Debt Issued, Total	9.26B	8.36B	9.88B	8.58B	11.61B
Total Debt Issued	9.26B	8.36B	9.88B	8.58B	11.61B
Long-Term Debt Repaid, Total	-11.24B	-8.46B	-8.24B	-8.57B	-9.86B
Total Debt Repaid	-11.24B	-8.46B	-8.24B	-8.57B	-9.86B
Issuance of Common Stock	1M	-	-	-	-
Repurchase of Common Stock	-286M	-34M	-1.07B	-1.07B	-1.57B
Common Dividends Paid	-	-	-	-406M	-434M
Common & Preferred Stock Dividends Paid	-	-	-	-406M	-434M
Other Financing Activities, Total	-23M	-8M	-24M	-	-17M
Cash from Financing	-2.29B	-140M	552M	-1.47B	-274M
Foreign Exchange Rate Adjustments	8M	4M	-7M	3M	-30M
Net Change in Cash	150M	-58M	-38M	257M	94M
Supplemental Items
Cash Interest Paid	483M	391M	406M	614M	674M
Cash Income Tax Paid (Refund)	318M	202M	326M	493M	994M
Levered Free Cash Flow	2.58B	1.38B	1.37B	2.37B	2.28B
Unlevered Free Cash Flow	2.87B	1.62B	1.62B	2.75B	2.7B
Change In Net Working Capital	40M	-295M	32M	103M	294M
Net Debt Issued / Repaid	-1.98B	-98M	1.64B	2M	1.75B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.43	7.6	9.16	9.95	9.61
Return on Total Capital	7.66	9.22	11.38	12.36	11.68
Return On Equity %	21.25	26.31	32.25	31.91	30.74
Return on Common Equity	21.25	26.31	32.25	31.91	30.74
Margin Analysis
Gross Profit Margin %	37.89	40.04	43.15	41.31	40.49
SG&A Margin	11.48	12.34	12.03	10.65	10.72
EBITDA Margin %	26.76	27.7	31.12	30.66	29.77
EBITA Margin %	25.16	26.27	29.87	29.54	28.6
EBIT Margin %	22.23	23.87	27.99	27.65	26.92
Income From Continuing Operations Margin %	10.43	14.27	18.08	16.91	16.78
Net Income Margin %	10.43	14.27	18.08	16.91	16.78
Net Avail. For Common Margin %	10.43	14.27	18.08	16.91	16.78
Normalized Net Income Margin	10.39	12.34	15.28	14.6	14.07
Levered Free Cash Flow Margin	30.28	14.24	11.76	16.54	14.86
Unlevered Free Cash Flow Margin	33.68	16.64	13.95	19.21	17.57
Asset Turnover
Asset Turnover	0.46	0.51	0.52	0.58	0.57
Fixed Assets Turnover	6.65	7.23	7.62	7.83	7.02
Receivables Turnover (Average Receivables)	6	6.49	6.33	6.77	6.69
Inventory Turnover (Average Inventory)	43.25	40.32	33.43	38.49	45.1
Short Term Liquidity
Current Ratio	1.07	0.83	1.11	0.81	0.98
Quick Ratio	0.81	0.71	0.97	0.72	0.87
Operating Cash Flow to Current Liabilities	1.41	1.42	1.81	1.29	1.37
Days Sales Outstanding (Average Receivables)	61.04	56.2	57.7	53.91	54.7
Days Outstanding Inventory (Average Inventory)	8.46	9.05	10.92	9.48	8.12
Average Days Payable Outstanding	31.75	39.89	53.36	44.49	33.14
Cash Conversion Cycle (Average Days)	37.75	25.36	15.27	18.9	29.68
Long Term Solvency
Total Debt/Equity	229.02	175.4	173.08	155.74	171.53
Total Debt / Total Capital	69.61	63.69	63.38	60.9	63.17
LT Debt/Equity	209.61	156.9	167.81	134.66	154.45
Long-Term Debt / Total Capital	63.71	56.97	61.45	52.65	56.88
Total Liabilities / Total Assets	74.56	70.48	70.8	68.23	69.39
EBIT / Interest Expense	3.9	5.89	7.61	6.24	5.98
EBITDA / Interest Expense	5.2	7.46	9.1	7.53	7.2
(EBITDA - Capex) / Interest Expense	4.58	1.8	2.73	3.6	3.43
Total Debt / EBITDA	4.12	3.57	3.14	2.65	2.97
Net Debt / EBITDA	4.04	3.52	3.11	2.57	2.88
Total Debt / (EBITDA - Capex)	4.68	14.78	10.46	5.54	6.25
Net Debt / (EBITDA - Capex)	4.59	14.58	10.37	5.38	6.05
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-8.78	13.9	19.82	23.11	7.07
Gross Profit, 1 Yr. Growth %	-13.7	20.36	29.13	17.88	4.93
EBITDA, 1 Yr. Growth %	-13.95	17.87	34.63	21.28	3.96
EBITA, 1 Yr. Growth %	-15.38	18.92	36.29	21.74	3.66
EBIT, 1 Yr. Growth %	-15.58	22.31	40.53	21.6	4.24
Earnings From Cont. Operations, 1 Yr. Growth %	-24.19	55.73	51.88	15.15	6.23
Net Income, 1 Yr. Growth %	-24.19	55.73	51.88	15.15	6.23
Normalized Net Income, 1 Yr. Growth %	-15.04	35.26	48.38	17.6	3.2
Diluted EPS Before Extra, 1 Yr. Growth %	-19.26	56.07	55.72	18.99	9.67
Accounts Receivable, 1 Yr. Growth %	-14.05	27.53	19.5	11.28	5.7
Inventory, 1 Yr. Growth %	4.17	31.2	41.46	-11.64	-2.44
Net Property, Plant and Equip., 1 Yr. Growth %	1.49	8.05	18.77	20.75	18.43
Total Assets, 1 Yr. Growth %	-5.81	13.57	19.18	5.81	10.06
Tangible Book Value, 1 Yr. Growth %	-42.72	-88.04	-484.21	160.27	-30.33
Common Equity, 1 Yr. Growth %	18.67	31.82	17.88	15.12	6.05
Cash From Operations, 1 Yr. Growth %	-12.1	38.79	20.17	6.11	-3.36
Capital Expenditures, 1 Yr. Growth %	-80.25	643.33	22.2	-8.4	4.41
Levered Free Cash Flow, 1 Yr. Growth %	88.58	-47.07	-0.99	73.07	-3.8
Unlevered Free Cash Flow, 1 Yr. Growth %	66.87	-44.32	0.46	69.52	-2.03
Dividend Per Share, 1 Yr. Growth %	-	-	-	-	10.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.96	1.93	16.83	21.45	14.81
Gross Profit, 2 Yr. CAGR %	-2.93	1.92	24.67	23.37	11.22
EBITDA, 2 Yr. CAGR %	-2.3	0.71	26.81	27.78	12.29
EBITA, 2 Yr. CAGR %	-3.34	0.32	28.21	28.81	12.34
EBIT, 2 Yr. CAGR %	-4.62	1.61	32.16	30.73	12.59
Earnings From Cont. Operations, 2 Yr. CAGR %	-9.89	8.65	53.79	32.25	10.6
Net Income, 2 Yr. CAGR %	-9.89	8.65	53.79	32.25	10.6
Normalized Net Income, 2 Yr. CAGR %	-6.12	9.21	53.68	32.1	10.5
Diluted EPS Before Extra, 2 Yr. CAGR %	-3.57	12.25	55.9	36.12	14.23
Accounts Receivable, 2 Yr. CAGR %	-7.74	4.69	23.45	15.32	8.45
Inventory, 2 Yr. CAGR %	7.09	16.9	36.24	11.8	-7.15
Net Property, Plant and Equip., 2 Yr. CAGR %	45.06	4.72	13.28	19.75	19.58
Total Assets, 2 Yr. CAGR %	-0.73	3.43	16.34	12.3	7.92
Tangible Book Value, 2 Yr. CAGR %	-31.88	-73.83	-32.22	216.23	34.66
Common Equity, 2 Yr. CAGR %	15.57	25.07	24.65	16.49	10.49
Cash From Operations, 2 Yr. CAGR %	-3.48	10.45	29.14	12.92	1.27
Capital Expenditures, 2 Yr. CAGR %	-57.06	21.16	201.39	5.8	-2.21
Levered Free Cash Flow, 2 Yr. CAGR %	51.21	1.91	-25.69	30.9	29.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	42.32	-3.11	-24.97	30.5	28.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.7	6.48	7.58	18.88	16.46
Gross Profit, 3 Yr. CAGR %	4.27	4.28	10.28	22.36	16.89
EBITDA, 3 Yr. CAGR %	5.43	4	10.95	24.94	19.29
EBITA, 3 Yr. CAGR %	4.85	3.57	11.1	26.01	19.81
EBIT, 3 Yr. CAGR %	3.93	3.63	13.21	28.54	21.22
Earnings From Cont. Operations, 3 Yr. CAGR %	-12.88	8.14	21.49	39.65	22.93
Net Income, 3 Yr. CAGR %	-12.88	8.14	21.49	39.65	22.93
Normalized Net Income, 3 Yr. CAGR %	3.36	6.03	20.96	40.57	21.66
Diluted EPS Before Extra, 3 Yr. CAGR %	-8.12	13.22	25.19	42.47	26.66
Accounts Receivable, 3 Yr. CAGR %	2.17	2.77	9.41	19.25	12.01
Inventory, 3 Yr. CAGR %	18.56	14.59	24.58	17.93	6.84
Net Property, Plant and Equip., 3 Yr. CAGR %	40.38	31.49	9.21	15.72	19.31
Total Assets, 3 Yr. CAGR %	5.93	3.82	8.43	12.72	11.55
Tangible Book Value, 3 Yr. CAGR %	-11.78	-61.86	-35.92	6.14	90.99
Common Equity, 3 Yr. CAGR %	13.53	20.75	22.62	21.39	12.9
Cash From Operations, 3 Yr. CAGR %	6.36	8.94	13.6	20.96	7.21
Capital Expenditures, 3 Yr. CAGR %	-39.26	11.08	21.51	102.63	5.33
Levered Free Cash Flow, 3 Yr. CAGR %	40.75	6.97	0.93	-1.5	18.13
Unlevered Free Cash Flow, 3 Yr. CAGR %	34.77	4.45	-1.93	-1.54	18.61
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.96	11.02	11.88	12.24	10.41
Gross Profit, 5 Yr. CAGR %	5.19	9.8	11.99	11.54	10.65
EBITDA, 5 Yr. CAGR %	4.93	9.38	13.21	12.93	11.48
EBITA, 5 Yr. CAGR %	4.52	9.27	13.31	13.01	11.59
EBIT, 5 Yr. CAGR %	4.42	9.64	14.05	13.72	12.96
Earnings From Cont. Operations, 5 Yr. CAGR %	8.75	19.62	9.36	17.2	17.01
Net Income, 5 Yr. CAGR %	8.75	19.62	9.36	17.2	17.01
Normalized Net Income, 5 Yr. CAGR %	5.46	12.61	17.26	15.78	16.52
Diluted EPS Before Extra, 5 Yr. CAGR %	14.98	24.17	13.52	21.88	20.69
Accounts Receivable, 5 Yr. CAGR %	7.17	12.76	10.2	7.62	9.03
Inventory, 5 Yr. CAGR %	12.62	19.25	25.34	13.47	10.76
Net Property, Plant and Equip., 5 Yr. CAGR %	23.76	26.56	28.84	26.67	13.25
Total Assets, 5 Yr. CAGR %	8.14	11.1	9.98	7.13	8.22
Tangible Book Value, 5 Yr. CAGR %	-13.81	-42.19	-20.6	-11.11	-13.75
Common Equity, 5 Yr. CAGR %	25.22	29.45	17.85	19.03	17.62
Cash From Operations, 5 Yr. CAGR %	5.91	13.7	14.95	10.52	8.49
Capital Expenditures, 5 Yr. CAGR %	-22.86	21.48	15.27	8.94	11.4
Levered Free Cash Flow, 5 Yr. CAGR %	30.92	3.91	8.13	15.97	11.35
Unlevered Free Cash Flow, 5 Yr. CAGR %	25.03	3.08	6.71	14.18	9.39