Company Valuation: United Rentals, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,056 24,634 38,867 46,227 51,497 62,856 - -
Change - 2.4% 57.78% 18.94% 11.4% 22.06% - -
Enterprise Value (EV) 1 33,597 35,898 50,022 59,176 65,267 77,251 77,171 76,961
Change - 6.85% 39.35% 18.3% 10.29% 18.36% -0.1% -0.27%
P/E 17.5x 12x 16.3x 18.2x 21x 22x 18.7x 16.5x
PBR 6.33x 3.56x 4.83x 5.42x 5.69x 6.36x 5.61x 4.83x
PEG - 0.2x 0.9x 1.88x -101.56x 1.2x 1.1x 1.2x
Capitalization / Revenue 2.48x 2.12x 2.71x 3.01x 3.2x 3.54x 3.26x 3x
EV / Revenue 3.46x 3.08x 3.49x 3.86x 4.05x 4.35x 4x 3.67x
EV / EBITDA 7.61x 6.39x 7.3x 8.26x 8.91x 9.59x 8.8x 8.04x
EV / EBIT 14.8x 11.1x 13.1x 14.6x 16.4x 17.1x 15.1x 13.7x
EV / FCF 22.6x 20.7x 21.7x 74.6x 29.9x 34.7x 33.4x 25x
FCF Yield 4.43% 4.82% 4.61% 1.34% 3.34% 2.88% 3% 3.99%
Dividend per Share 2 - - 5.92 6.52 7.16 7.783 8.576 9.14
Rate of return - - 1.03% 0.93% 0.88% 0.77% 0.85% 0.91%
EPS 2 19.04 29.65 35.28 38.69 38.61 45.93 53.95 61.21
Distribution rate - - 16.8% 16.9% 18.5% 16.9% 15.9% 14.9%
Net sales 1 9,716 11,642 14,332 15,345 16,099 17,740 19,284 20,969
EBITDA 1 4,414 5,618 6,857 7,160 7,328 8,056 8,772 9,578
EBIT 1 2,277 3,232 3,827 4,065 3,973 4,528 5,094 5,626
Net income 1 1,386 2,105 2,424 2,575 2,494 2,870 3,276 3,664
Net Debt 1 9,541 11,264 11,155 12,949 13,770 14,395 14,315 14,105
Reference price 2 332.29 355.42 573.42 704.44 809.32 1,009.86 1,009.86 1,009.86
Nbr of stocks (in thousands) 72,394 69,308 67,781 65,622 63,630 62,242 - -
Announcement Date 1/26/22 1/25/23 1/24/24 1/29/25 1/28/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.99x4.35x9.59x0.77% 62.86B
17.8x3.08x7.28x1.72% 28.09B
59.97x1.59x4.48x-.--% 4.95B
29.19x2.64x6.29x2.03% 4.71B
17.4x - - 1.77% 2.73B
15.57x0.71x2.84x1.96% 1.23B
12.61x - - - 1.19B
11.02x0.75x3.02x2.84% 838M
Average 23.19x 2.19x 5.58x 1.58% 13.32B
Weighted average by Cap. 22.58x 3.72x 8.42x 1.1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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