United Rentals is the world's largest equipment rental company, principally operating in the US and Canada. It has 16% share in a highly fragmented market serving general industrial (49%), commercial construction (46%), and residential construction (5%).
It is a $65.8B industrial company. Revenue grew 6.9% over the last year, it keeps 16¢ of every dollar of sales as profit, and its net debt equals ~5.9 years of free cash flow. It trades at 24.9× earnings — in the most expensive third of its own history.
- Website
- unitedrentals.com
- Location
- Stamford, CT
- Employees
- 28 500
- Sector
- Industrials
- Founded
- 1997
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability and quality; Valuation and Health lag behind.
Valuation44
- P/E vs own history82th pct · 0/25
- FCF yield3.5% · 12/25
- P/S3.9x · 20/25
- EV/EBITDA17.1x · 12/25
Growth90
- Revenue CAGR13.5% · 20/25
- Net income CAGR15.8% · 20/25
- EPS CAGR ~5Y25.9% · 25/25
- Fwd implied growth31.5% · 25/25
Profitability82
- ROIC11.0% · 12/25
- ROE29.2% · 25/25
- Net margin15.7% · 20/25
- Operating margin25.1% · 25/25
Health47
- Altman Z2.99 · 18/25
- Current ratio0.76 · 6/25
- Interest coverage5.7x · 18/25
- Net cash / debtD/A 46% · 5/25
Quality80
- Piotroski F5/9 · 15/25
- Beneish M-2.78 · 25/25
- FCF conversion77% · 15/25
- Margin stabilityσ 2.7% · 25/25
Moat69
- ROIC >12% years5/10 yrs · 13/25
- Median gross margin40.3% · 13/25
- FCF-positive years6/6 yrs · 25/25
- Worst-year net marginworst 9.8% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2024FinancialBest year on record$2.58B net income
- Mar 15, 2024AcquisitionUnited Access completed the acquisition of Yak Access, Yak Mat and New South Access &…
- FY2022FinancialRevenue crossed $10B$11.6B for the year
- Dec 7, 2022AcquisitionUnited Rentals completed the acquisition of Ahern Rentals, Inc
- May 25, 2021AcquisitionUnited Rentals acquired General Finance Corporation, a provider of mobile storage and office…
- Mar 1, 2018AcquisitionUnited Rentals acquired certain assets of Industrial Rental Services, LLC, expanding its Tool…
- Oct 2, 2017AcquisitionUnited Rentals announced it had completed the acquisition of Neff Corporation, a competing…
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$5.76B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2014IPOUnited Rentals was first listed on the Fortune 500
- Apr 30, 2012AcquisitionThe largest merger in rental equipment history was finalized on April 30, 2012, boosting URI to what was at the time…
- Dec 16, 2011AcquisitionUnited Rentals and RSC Holdings, Inc. announced that they had entered into a definitive merger…
- Dec 26, 2006AcquisitionUnited Rentals announced the sale of their Highway Technology division to HTS Acquisition, Inc
- 1997FoundedUnited Rentals was founded in September 1997
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Interest covered 5.7× by operating earnings
- Altman Z-Score 2.99 — low bankruptcy-risk zone
Watch-outs
- Net debt would take ~7.5 years of free cash flow to repay
- Net debt equals ~5.9 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+6.9% YoY
- Profitable — makes more than it spends$2.64B TTM
- Profit growing — earnings are higher than last year+9.2% YoY
- Generates cash — cash left after running and investing$2.32B TTM
- Debt under control — could handle its obligations~5.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$65.8B market cap
- Not printing shares — share count not ballooning — you keep your slice-11.5% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.0 — safe
- Pays a dividend — returns cash to shareholdersyield 0.73%
- Valuation not extreme — price not wildly above earningsP/E 24.9
Peer comparisonUnited Rentals, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| URI this company | $65.8B | 24.9 | +6.9% | 15.7% | Mixed |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: URI vs LRCX · URI vs CAT · URI vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/URI
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of URI on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $1 056.37 · market cap $65.8B.