United Rentals, Inc.URI
NYSE•Industrials•Rental & Leasing Services
United Rentals, Inc., through its subsidiaries, operates as an equipment rental company in the United States, Canada, Europe, Australia, and New Zealand. It operates through two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, including boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. The specialty segment rents trench safety equipment consists of trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers, and line testing equipment for underground work; power and heating, ventilating, and air conditioning equipment, such as portable diesel generators, electrical distribution equipment, and temperature control equipment; fluid solutions equipment for fluid containment, transfer, and treatment; surface protection mats; and mobile storage equipment and modular office space. This segment serves construction companies involved in infrastructure projects, and municipalities and industrial companies. The company also sells aerial lifts, reach forklifts, telehandlers, compressors, and generators; construction consumables, tools, small equipment, and safety supplies; and parts for equipment that is owned by its customers, as well as provides repair and maintenance services. It sells used equipment through its sales force, brokers, website, at auctions, and directly to manufacturers. United Rentals, Inc. was incorporated in 1997 and is headquartered in Stamford, Connecticut.
United Rentals, Inc. (URI) reported trailing twelve months revenue of $16.36B as of March 2026, a 5.0% increase year-over-year. Quarterly revenue reached $3.98B, reflecting continued top-line momentum.
United Rentals, Inc. generated $2.51B in TTM net income, with quarterly EBITDA of $983.00M. The operating margin expanded from 21.6% to 21.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (21.8%) and net margin (13.3%) indicates moderate non-operating costs. Net margin has narrowed from 13.9% a year ago, reflecting increased costs or interest expense.
URI trades at a P/E of 17.9x (in line with broad market averages) and a P/S of 2.7x. The price-to-book ratio of 5.0x indicates a significant premium over book value.
The company generated $747.00M in free cash flow over the trailing twelve months, a 2.2% decrease year-over-year, indicating cash generation ability. The balance sheet shows $29.89B in total assets with $12.26B in long-term debt against $8.97B in stockholders equity for a debt-to-equity ratio of 1.4. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~25.2% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 29.0% suggests a durable competitive advantage and efficient capital allocation.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (7 of 7 quarters up), with ~10.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~24.6% — no sign of cost or pricing stress.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.4 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares decreased 5.5% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation