Overview
UNITED RENTALS, INC.
Latest 10-K: FY2025
- Revenue
- $16.10B
- 4.9%YoYup from FY2024
- TotalRevenue
- Gross profit
- $6.14B
- 0.1%YoYdown from FY2024
- GrossProfit
- Operating income
- $3.97B
- 2.3%YoYdown from FY2024
- OperatingIncome
- Net income
- $2.49B
- 3.1%YoYdown from FY2024
- NetIncome
- Diluted EPS
- $38.61
- 0.2%YoYdown from FY2024
- EPSDiluted
- Diluted shares
- 64.6M
- 2.9%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- UNITED RENTALS, INC. reported revenue of $16.10B for fiscal 2025, up 4.9% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 4 of the last 5 fiscal years.
Profitability
- Operating margin was 24.7% and net margin was 15.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $38.61, down 0.2% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $16.10B4.9%up Benchmark median 6.4% | $15.35B7.1%up Benchmark median 4.5% | $14.33B23.1%up Benchmark median 4.8% | $11.64B19.8%up Benchmark median 10.3% | $9.72B13.9%up Benchmark median 13.8% | 13.5% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $6.14B0.1%down Benchmark median 6.8% | $6.15B5.8%up Benchmark median 5.5% | $5.81B16.4%up Benchmark median 5.2% | $5.00B29.7%up Benchmark median 8.3% | $3.85B21.0%up Benchmark median 15.7% | 12.4% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $3.97B2.3%down Benchmark median 7.3% | $4.07B6.2%up Benchmark median 7.4% | $3.83B18.4%up Benchmark median 4.9% | $3.23B41.9%up Benchmark median 7.5% | $2.28B26.5%up Benchmark median 23.5% | 14.9% Benchmark median 7.2% |
| Net Income | $2.49B3.1%down Benchmark median 4.8% | $2.58B6.2%up Benchmark median 5.7% | $2.42B15.2%up Benchmark median 1.9% | $2.10B51.9%up Benchmark median 1.3% | $1.39B55.7%up Benchmark median 33.9% | 15.8% Benchmark median 4.1% |
| EPS (Diluted) | $38.610.2%down Benchmark median 6.2% | $38.699.7%up Benchmark median 7.9% | $35.2819.0%up Benchmark median 1.9% | $29.6555.7%up Benchmark median 1.5% | $19.0456.1%up Benchmark median 34.8% | 19.3% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $29.87B6.0%up Benchmark median 5.6% | $28.16B10.1%up Benchmark median 3.4% | $25.59B5.8%up Benchmark median 4.1% | $24.18B19.2%up Benchmark median 2.2% | $20.29B13.6%up Benchmark median 6.7% | 10.1% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $20.90B6.9%up Benchmark median 6.4% | $19.54B11.9%up Benchmark median 1.9% | $17.46B2.0%up Benchmark median 2.9% | $17.12B19.7%up Benchmark median 2.0% | $14.30B7.3%up Benchmark median 5.2% | 9.9% Benchmark median 4.4% |
| Stockholders' Equity | $8.97B4.0%up Benchmark median 6.8% | $8.62B6.1%up Benchmark median 5.4% | $8.13B15.1%up Benchmark median 7.3% | $7.06B17.9%up Benchmark median 2.5% | $5.99B31.8%up Benchmark median 9.0% | 10.6% Benchmark median 6.1% |
| Cash & Equivalents | $459.00M0.4%up Benchmark median 5.2% | $457.00M25.9%up Benchmark median 1.9% | $363.00M242.5%up Benchmark median 6.7% | $106.00M26.4%down Benchmark median -8.6% | $144.00M28.7%down Benchmark median -2.9% | 33.6% Benchmark median 2.0% |
| Total Debt | $14.23B6.1%up Benchmark median 2.1% | $13.41B16.4%up Benchmark median 0.2% | $11.52B1.3%up Benchmark median 0.3% | $11.37B17.4%up Benchmark median 0.1% | $9.69B0.0%unchanged Benchmark median -0.1% | 10.1% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.19B14.2%up Benchmark median 6.3% | $4.55B3.4%down Benchmark median 4.8% | $4.70B6.1%up Benchmark median 9.9% | $4.43B20.2%up Benchmark median -0.7% | $3.69B38.8%up Benchmark median 10.7% | 8.9% Benchmark median 7.0% |
| Capital Expenditures | — | $4.13B6.9%up Benchmark median 2.8% | $3.86B4.7%up Benchmark median 11.3% | $3.69B15.4%up Benchmark median 14.0% | $3.20B176.2%up Benchmark median 8.1% | — Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | — | $416.00M50.5%down Benchmark median 6.1% | $840.00M13.1%up Benchmark median 8.8% | $743.00M51.3%up Benchmark median -11.3% | $491.00M67.3%down Benchmark median 10.2% | — Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
4.8%
Wall Street
on net earnings
FY2024 5.5%
— Not reported
Value investor
on free cash flow
FY2024 0.9%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 21.0×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
6.7%
Wall Street
on EBITDA
FY2024 7.5%
6.0%
Value investor
on EBIT
FY2024 6.8%
Gap −0.7 pts: Value-investor figure 0.7 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 15.0×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
17.2%
Wall Street
on book equity
FY2024 18.4%
3.5%
Value investor
on tangible book
FY2024 3.7%
Gap −13.7 pts: Value-investor figure 13.7 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 5.8×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
28.4%
Wall Street
ROE: net income ÷ equity
FY2024 30.7%
11.6%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 12.7%
Gap −16.8 pts: Value-investor figure 16.8 points lower
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
27.4%
Wall Street
EBITDA margin
FY2024 29.3%
— Not reported
Value investor
Free-cash-flow margin
FY2024 2.7%
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
0.94×
Wall Street
Current ratio
FY2024 0.98×
0.88×
Value investor
Quick ratio, inventory excluded
FY2024 0.92×
Gap −0.06×: Value-investor figure 0.06 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.31×
Wall Street
EBITDA ÷ total debt
FY2024 0.34×
— Not reported
Value investor
FCF ÷ total debt
FY2024 0.03×
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 3.12×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on URI yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on URI and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/URI
Valuein. (2026, October 31). UNITED RENTALS, INC. (URI) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/URI
@misc{valuein_uri_2026,
author = {{Valuein}},
title = {UNITED RENTALS, INC. (URI) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/URI}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.