United Rentals, Inc.
- Open
- 1051.75
- Day high
- 1076.63
- Day low
- 1041.78
- Prev close
- 1071.82
- Volume
- 478K
- Mkt cap
- $65.5B
- P/E (TTM)
- 26.7
- EPS (TTM)
- $39.17
- P/B
- 7.3
- P/S
- 4.0
- Yield
- 0.38%
- Per share
- $3.94
- ▼Insiders net selling -$25.6M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
United Rentals, Inc. (URI) is a Industrials company listed on NYSE. The stock is up 29% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
United Rentals, Inc. (URI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
URI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $8.95 | $9.71 | +8.5% | $4.0B | +2.8% |
| Jan 28, 2026 | $11.79 | $11.09 | -5.9% | $4.2B | -0.8% |
| Oct 22, 2025 | $12.29 | $11.70 | -4.8% | $4.2B | +1.6% |
| Jul 23, 2025 | $10.51 | $10.47 | -0.4% | $3.9B | +1.3% |
| Apr 23, 2025 | $8.78 | $8.86 | +0.9% | $3.7B | +3.3% |
| Jan 29, 2025 | $11.68 | $11.59 | -0.8% | $4.1B | +4.2% |
| Oct 23, 2024 | $12.48 | $11.80 | -5.4% | $4.0B | -0.4% |
| Jul 24, 2024 | $10.54 | $10.70 | +1.5% | $3.8B | +0.2% |
| Jan 24, 2024 | $10.93 | $11.26 | +3.0% | $3.7B | +2.9% |
| Oct 25, 2023 | $11.20 | $11.73 | +4.7% | $3.8B | +1.8% |
| Jul 26, 2023 | $9.01 | $9.88 | +9.7% | $3.6B | -4.1% |
| Jan 25, 2023 | $10.38 | $9.74 | -6.2% | $3.3B | -0.2% |
URI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Bruno Marc Adirector | Grant | 34 | $1132.89 |
| May 12, 2026 | Lopez-Balboa Francisco Jdirector | Grant | 203 | $937.00 |
| May 12, 2026 | De Shon Larry Ddirector | Grant | 203 | $937.00 |
| May 12, 2026 | MARTORE GRACIA Cdirector | Grant | 203 | $937.00 |
| May 12, 2026 | HEUER BRANDT JULIE Mdirector | Grant | 203 | $937.00 |
| May 12, 2026 | Taussig Alexander R.director | Grant | 203 | $937.00 |
| May 12, 2026 | Jones Kim Harrisdirector | Grant | 203 | $937.00 |
| May 12, 2026 | Kelly Terri L.director | Grant | 203 | $937.00 |
| May 12, 2026 | Singh Shivdirector | Grant | 203 | $937.00 |
| May 12, 2026 | Bruno Marc Adirector | Grant | 203 | $937.00 |
| Apr 27, 2026 | Gross Joli L.officer: SVP, Chief LGL & Sustain. Off. | Sell | 306 | $954.99 |
| Apr 27, 2026 | PINTOFF CRAIG ADAMofficer: EVP, Chief Admin. Officer | Sell | 2,466 | $963.00 |
| Apr 24, 2026 | Limoges Andrew B.officer: VP, Controller | Sell | 548 | $977.86 |
| Apr 24, 2026 | Flannery Matthew Johndirector, officer: President & CEO | Sell | 22,768 | $984.98 |
| Apr 1, 2026 | Bruno Marc Adirector | Grant | 51 | $728.56 |
Source: URI SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full URI insider & 13F page →United Rentals, Inc. company profile
Overview
United Rentals, Inc. (NYSE:URI) is the largest equipment rental company in North America, founded in 1997 and headquartered in Stamford, Connecticut. The company has grown through a combination of organic expansion and strategic acquisitions to become the dominant player in the equipment rental industry, operating over 1,360 rental locations across the United States, Canada, Europe, Australia, and New Zealand. United Rentals serves a diverse customer base including construction companies, industrial manufacturers, utilities, municipalities, and government entities by providing temporary access to construction and industrial equipment rather than requiring customers to purchase these expensive assets outright.
Business
United Rentals operates in the equipment rental industry, which serves as a critical component of the broader construction and industrial sectors. The company provides temporary access to expensive construction and industrial equipment, allowing customers to avoid the substantial capital investment, maintenance costs, and storage requirements associated with equipment ownership. The company operates through two primary business segments: 1. General Rentals segment (approximately 78% of rental revenue): This segment provides general construction and industrial equipment including backhoes, skid-steer loaders, forklifts, earthmoving equipment, material handling equipment, aerial work platforms such as boom and scissor lifts, and general tools and light equipment like pressure washers, water pumps, and power tools. This equipment serves the broad construction market including residential and non-residential construction projects. 2. Specialty segment (approximately 22% of rental revenue, growing rapidly): This higher-margin segment focuses on specialized construction products including trench safety equipment (trench shields, aluminum hydraulic shoring systems), power and HVAC equipment (portable diesel generators, electrical distribution equipment, temperature control systems), fluid solutions equipment for containment and treatment, and mobile storage and modular office space. The specialty segment primarily serves infrastructure projects, utilities, and industrial companies requiring specialized solutions. Beyond equipment rental, United Rentals also operates a used equipment sales business, selling previously rented equipment through various channels including direct sales, brokers, online platforms, and auctions. The company additionally provides parts, repair and maintenance services, and sells construction consumables and safety supplies, creating multiple revenue streams from its customer relationships.
Revenue model
United Rentals generates revenue through multiple complementary business models centered around equipment rental. The primary revenue stream comes from equipment rental fees, where customers pay daily, weekly, or monthly rates to use equipment without the burden of ownership. Rental revenue represented approximately $13.0 billion of the company's $15.3 billion in total 2024 revenue. The company's used equipment sales business generates substantial additional revenue, with $2.8 billion in sales during 2024. This model allows United Rentals to monetize aging fleet assets while maintaining optimal fleet composition and age. The company also generates revenue from parts and services, providing maintenance, repair services, and selling consumables and safety supplies to customers. United Rentals' customers include construction companies (both residential and non-residential), industrial manufacturers, utilities, municipalities, government entities, and increasingly, large-scale infrastructure and technology projects such as data centers, semiconductor manufacturing facilities, and renewable energy installations. Several factors influence the company's profitability margins. Positive margin drivers include the company's scale advantages allowing for better equipment utilization rates, pricing power due to market leadership position, growth in higher-margin specialty rentals, and the ability to pass through inflation to customers through rate increases. The company's extensive geographic footprint enables efficient fleet deployment and reduces transportation costs. Margin pressures come from equipment cost inflation, labor cost increases, transportation and fuel costs, competitive pricing pressure in local markets, and the cyclical nature of construction activity. Weather conditions and seasonal construction patterns also impact utilization rates and margins. Additionally, the capital-intensive nature of the business requires continuous fleet investment, with the company spending $3.3 billion on rental fleet capital expenditures in 2024.
Competitive moat
United Rentals possesses a strong economic moat built primarily on scale advantages and network effects. The company's dominant market position with over 1,360 locations creates significant barriers to entry, as competitors would need massive capital investment to replicate this geographic coverage. This extensive network provides United Rentals with superior fleet utilization through efficient equipment deployment and reduced transportation costs when serving customers across multiple locations. The company's scale advantages extend beyond geography to purchasing power, allowing United Rentals to negotiate better terms with equipment manufacturers and achieve lower per-unit costs. The large fleet size also enables better asset utilization rates, as equipment can be moved between markets based on demand patterns. Additionally, the company's substantial used equipment sales operation creates a natural hedge, allowing it to optimize fleet composition and generate additional revenue streams. Customer switching costs provide another layer of protection. Large construction and industrial customers often prefer working with a single rental partner that can provide comprehensive solutions across multiple locations and project types. United Rentals' ability to serve both general and specialty equipment needs, combined with its national presence, makes it difficult for customers to switch to smaller, regional competitors. However, the moat faces some challenges. The equipment rental industry has relatively low barriers to entry at the local level, and regional competitors can compete effectively in specific markets. The business is also cyclical and tied to construction activity, making it vulnerable to economic downturns. Additionally, some large customers have begun bringing certain equipment rental functions in-house, and manufacturers occasionally compete directly in rental markets. Technology disruption, while currently limited, could potentially alter the competitive landscape as equipment becomes more connected and autonomous.
Risks & safety
United Rentals demonstrates a moderate margin of safety with solid financial fundamentals but elevated debt levels typical of capital-intensive businesses. • Liquidity and Solvency: Strong cash generation with $4.5 billion in operating cash flow for 2024, though free cash flow was modest at $419 million due to heavy capital expenditures. Current ratio of 0.98 indicates tight working capital management. Cash position of $457 million provides adequate liquidity buffer. • Debt Profile: Elevated debt-to-equity ratio of 1.72 reflects the capital-intensive nature of the business. Net leverage of approximately 2.3x EBITDA is manageable but leaves limited cushion during downturns. The company targets reducing leverage to 2.0x following the pending H&E acquisition. • Valuation Metrics: Trading at 18.1x trailing earnings and 8.7x EV/EBITDA, representing reasonable but not exceptional value. Price-to-book ratio of 5.4x reflects the asset-heavy nature of the business and market premium for the leading position. • Other Considerations: Strong return on equity of 29.9% demonstrates efficient capital deployment. The cyclical nature of the business and exposure to construction cycles creates earnings volatility risk. Pending $5 billion H&E acquisition will temporarily increase leverage but should provide strategic benefits.
Recent development
Over the past few years, United Rentals has executed several key strategic initiatives focused on expanding its specialty rental business and strengthening its market leadership position. The company has aggressively expanded its specialty segment, which has grown from contributing a small portion of rental revenue to approximately 22% by 2024, with growth rates consistently exceeding 15-30% annually. This expansion includes opening 50+ specialty "cold starts" annually, adding new product lines, and acquiring specialty-focused companies. The company completed several significant acquisitions to enhance its specialty capabilities, including General Finance (mobile storage and modular space), Ahern (aerial equipment), and Yak (mat and timber solutions). Most notably, United Rentals announced the pending $5 billion acquisition of H&E Equipment Services in late 2024, which will significantly expand its presence in the South and Southwest regions while adding complementary specialty capabilities. Technology investments have become increasingly important, with the company deploying telematics across its fleet, implementing AI-powered fleet management systems, and developing digital customer interfaces. These investments aim to improve equipment utilization, reduce maintenance costs, and enhance customer experience. The company has also shifted its capital allocation strategy, reducing its target leverage range to 1.5-2.5x EBITDA and committing to return approximately $2 billion annually to shareholders through dividends and share repurchases. United Rentals raised its quarterly dividend by 10% in 2024 and authorized a new $1.5 billion share repurchase program, reflecting confidence in its cash generation capabilities. Market positioning efforts have focused on becoming the "partner of choice" for large, multi-location projects, particularly in high-growth sectors such as data centers, semiconductor manufacturing, renewable energy, and infrastructure development. The company has successfully captured significant business from mega-projects while maintaining its local market presence.
URI company profile · for informational purposes only — not investment advice.
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