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Stocks · Industrials · Services-Equipment Rental & Leasing, NEC

United Rentals

URI Clue Score54
United States Fiscal year ends December CIK 0001067701
$1,056.37 +0.59% Close, 9 Oct 2026
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Price $1,056.37 +208.06% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue5.76Operating income1.42Net income0.57EPS, diluted6.45Fiscal year 2017Revenue6.64 +15.3%Operating income1.51Net income1.35 +137.8%EPS, diluted15.73 +143.9%Fiscal year 2018Revenue8.05 +21.2%Operating income1.95Net income1.10 −18.6%EPS, diluted13.12 −16.6%Fiscal year 2019Revenue2.06 −74.4%Operating income2.15Net income1.17 +7.1%EPS, diluted15.11 +15.2%Fiscal year 2020Revenue1.99 −3.3%Operating income1.80Net income0.89 −24.2%EPS, diluted12.20 −19.3%Fiscal year 2021Revenue2.26 +13.1%Operating income2.28Net income1.39 +55.7%EPS, diluted19.04 +56.1%Fiscal year 2022Revenue2.50 +10.9%Operating income3.23Net income2.11 +51.9%EPS, diluted29.65 +55.7%Fiscal year 2023Revenue3.40 +35.7%Operating income3.83Net income2.42 +15.2%EPS, diluted35.28 +19.0%Fiscal year 2024Revenue3.59 +5.7%Operating income4.07Net income2.58 +6.2%EPS, diluted38.69 +9.7%Fiscal year 2025Revenue3.70 +3.0%Operating income3.97Net income2.49 −3.1%EPS, diluted38.61 −0.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 5.76 6.64 8.05 2.06 1.99 2.26 2.50 3.40 3.59 3.70
Growth +15.3% +21.2% −74.4% −3.3% +13.1% +10.9% +35.7% +5.7% +3.0%
Operating income 1.42 1.51 1.95 2.15 1.80 2.28 3.23 3.83 4.07 3.97
Net income 0.57 1.35 1.10 1.17 0.89 1.39 2.11 2.42 2.58 2.49
Growth +137.8% −18.6% +7.1% −24.2% +55.7% +51.9% +15.2% +6.2% −3.1%
EPS, diluted 6.45 15.73 13.12 15.11 12.20 19.04 29.65 35.28 38.69 38.61
Growth +143.9% −16.6% +15.2% −19.3% +56.1% +55.7% +19.0% +9.7% −0.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin41.7%Operating margin24.6%Net margin9.8%Free cash flow margin32.1%Fiscal year 2017Gross margin41.7%Operating margin22.7%Net margin20.3%Free cash flow margin31.5%Fiscal year 2018Gross margin41.8%Operating margin24.2%Net margin13.6%Free cash flow margin33.2%Fiscal year 2019Gross margin177.9%Operating margin104.3%Net margin56.9%Free cash flow margin136.0%Fiscal year 2020Gross margin159.6%Operating margin90.3%Net margin44.6%Free cash flow margin123.4%Fiscal year 2021Gross margin170.8%Operating margin100.9%Net margin61.4%Free cash flow margin21.8%Fiscal year 2022Gross margin199.8%Operating margin129.2%Net margin84.2%Free cash flow margin29.7%Fiscal year 2023Gross margin171.2%Operating margin112.7%Net margin71.4%Free cash flow margin24.7%Fiscal year 2024Gross margin171.4%Operating margin113.3%Net margin71.8%Free cash flow margin11.6%Fiscal year 2025Gross margin166.3%Operating margin107.5%Net margin67.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 41.7% 41.7% 41.8% 177.9% 159.6% 170.8% 199.8% 171.2% 171.4% 166.3%
Operating margin 24.6% 22.7% 24.2% 104.3% 90.3% 100.9% 129.2% 112.7% 113.3% 107.5%
Net margin 9.8% 20.3% 13.6% 56.9% 44.6% 61.4% 84.2% 71.4% 71.8% 67.5%
Free cash flow margin 32.1% 31.5% 33.2% 136.0% 123.4% 21.8% 29.7% 24.7% 11.6% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.94Capital expenditure−0.09Free cash flow1.85Buybacks−0.53Fiscal year 2017Operating cash flow2.21Capital expenditure−0.12Free cash flow2.09 +13.0%Buybacks−0.06Fiscal year 2018Operating cash flow2.85Capital expenditure−0.19Free cash flow2.67 +27.7%Buybacks−0.82Fiscal year 2019Operating cash flow3.02Capital expenditure−0.22Free cash flow2.81 +5.2%Buybacks−0.87Fiscal year 2020Operating cash flow2.66Capital expenditure−0.20Free cash flow2.46 −12.3%Buybacks−0.29Fiscal year 2021Operating cash flow3.69Capital expenditure−3.20Free cash flow0.49 −80.0%Buybacks−0.03Dividends paid0.00Fiscal year 2022Operating cash flow4.43Capital expenditure−3.69Free cash flow0.74 +51.3%Buybacks−1.07Dividends paid0.00Fiscal year 2023Operating cash flow4.70Capital expenditure−3.86Free cash flow0.84 +13.1%Buybacks−1.07Dividends paid−0.41Fiscal year 2024Operating cash flow4.55Capital expenditure−4.13Free cash flow0.42 −50.5%Buybacks−1.57Dividends paid−0.43Fiscal year 2025Operating cash flow5.19Buybacks−1.97Dividends paid−0.46
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.94 2.21 2.85 3.02 2.66 3.69 4.43 4.70 4.55 5.19
Capital expenditure −0.09 −0.12 −0.19 −0.22 −0.20 −3.20 −3.69 −3.86 −4.13 n/a
Free cash flow 1.85 2.09 2.67 2.81 2.46 0.49 0.74 0.84 0.42 n/a
Growth +13.0% +27.7% +5.2% −12.3% −80.0% +51.3% +13.1% −50.5%
Buybacks −0.53 −0.06 −0.82 −0.87 −0.29 −0.03 −1.07 −1.07 −1.57 −1.97
Dividends paid n/a n/a n/a n/a n/a 0.00 0.00 −0.41 −0.43 −0.46

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.31Total debt7.84Net cash (debt)−7.53Shareholders’ equity1.65Debt to equity4.76Fiscal year 2017Cash0.35Total debt9.52Net cash (debt)−9.16Shareholders’ equity3.11Debt to equity3.06Fiscal year 2018Cash0.04Total debt11.83Net cash (debt)−11.79Shareholders’ equity3.40Debt to equity3.48Fiscal year 2019Cash0.05Total debt11.52Net cash (debt)−11.46Shareholders’ equity3.83Debt to equity3.01Fiscal year 2020Cash0.20Total debt9.76Net cash (debt)−9.55Shareholders’ equity4.55Debt to equity2.15Fiscal year 2021Cash0.14Total debt9.75Net cash (debt)−9.61Shareholders’ equity5.99Debt to equity1.63Fiscal year 2022Cash0.11Total debt11.45Net cash (debt)−11.34Shareholders’ equity7.06Debt to equity1.62Fiscal year 2023Cash0.36Total debt11.58Net cash (debt)−11.22Shareholders’ equity8.13Debt to equity1.42Fiscal year 2024Cash0.46Total debt13.47Net cash (debt)−13.02Shareholders’ equity8.62Debt to equity1.56Fiscal year 2025Cash0.46Total debt14.30Net cash (debt)−13.84Shareholders’ equity8.97Debt to equity1.59
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.31 0.35 0.04 0.05 0.20 0.14 0.11 0.36 0.46 0.46
Total debt 7.84 9.52 11.83 11.52 9.76 9.75 11.45 11.58 13.47 14.30
Net cash (debt) −7.53 −9.16 −11.79 −11.46 −9.55 −9.61 −11.34 −11.22 −13.02 −13.84
Shareholders’ equity 1.65 3.11 3.40 3.83 4.55 5.99 7.06 8.13 8.62 8.97
Debt to equity 4.76 3.06 3.48 3.01 2.15 1.63 1.62 1.42 1.56 1.59

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
5.76 6.64 8.05 2.06 1.99 2.26 2.50 3.40 3.59 3.70
Growth +15.3% +21.2% −74.4% −3.3% +13.1% +10.9% +35.7% +5.7% +3.0%
3.36 3.87 4.68 5.68 5.35 5.86 6.65 8.52 9.20 9.96
2.40 2.77 3.36 3.67 3.18 3.85 5.00 5.81 6.15 6.14
Growth +15.2% +21.5% +9.1% −13.3% +21.0% +29.7% +16.4% +5.8% −0.1%
0.72 0.90 1.04 1.09 0.98 1.20 1.40 1.53 1.65 1.73
1.42 1.51 1.95 2.15 1.80 2.28 3.23 3.83 4.07 3.97
Growth +6.5% +29.5% +10.3% −16.4% +26.5% +41.9% +18.4% +6.2% −2.3%
0.91 1.05 1.48 1.51 1.14 1.85 2.80 3.21 3.39 3.34
0.34 −0.30 0.38 0.34 0.25 0.46 0.70 0.79 0.81 0.84
0.57 1.35 1.10 1.17 0.89 1.39 2.11 2.42 2.58 2.49
Growth +137.8% −18.6% +7.1% −24.2% +55.7% +51.9% +15.2% +6.2% −3.1%
Per share
6.49 15.91 13.26 15.18 12.24 19.14 29.77 35.40 38.82 38.71
6.45 15.73 13.12 15.11 12.20 19.04 29.65 35.28 38.69 38.61
Growth +143.9% −16.6% +15.2% −19.3% +56.1% +55.7% +19.0% +9.7% −0.2%
87.2 84.6 82.7 77.3 72.7 72.4 70.7 68.5 66.3 64.4
87.8 85.6 83.5 77.7 72.9 72.8 71.0 68.7 66.6 64.6
Growth −2.5% −2.4% −7.0% −6.2% −0.2% −2.5% −3.2% −3.1% −2.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 13.1% a year over five years, and earnings per share grew 25.9% a year.
  • The diluted share count fell 11.4% in five years, so buybacks did some of the work per share.
  • Operating margin is up 17.3 points on five years ago, at 107.5%.
  • Profitable in every one of the 10 years on file.