United Rentals, Inc. (URI)
Industrials · Trading Companies & Distributors · US stock · S&P 500 component
$1,111.02
▲ +42.04 (3.93%)
Fair valueFair
$1,010 −9.1% to fair value
$505fair band $859–$1,224$1,515
Day's range
$1,046.75 – $1,113.86
52-week range
$701.59 – $1,179.18
About United Rentals, Inc.
United Rentals operates the largest equipment rental business in North America, renting construction, industrial and specialty equipment from a network of branches. Customers include contractors, industrial companies and municipalities that need equipment for projects without buying it. Revenue comes mainly from rental fees, along with sales of used equipment and related services, and results are tied to construction and industrial activity.
Over the last twelve months United Rentals, Inc. reported revenue of $16.4 billion, which grew 11.4% a year over the past three years. Its operating margin is 24.7% and its return on invested capital is 13%. Net debt to EBITDA is 3.1 times. A dividend is paid, with a yield of 0.7%. The X-Ray Score is 50 out of 100, a summary of these measures.
Price chart
52-wk range $701.59 – $1,179.18Volume 1,119,831Daily, split-adjusted
Vitals
Market cap$70.0B
52-week range$701.59 – $1,179.18
Volume (last day)1,119,831
P/E (TTM)28.5
EBIT / EV yield4.8%
Free-cash-flow yield–
Dividend yield0.7%
Revenue (TTM)$16.4B
Net income (TTM)$2.5B
Operating margin24.7%
Return on capital13.3%
Debt incl. leases$13.9B
Cash & securities$156M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$1,010middle half of models $869 – $1,176
Fair
−9.1% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $1,111
Undervalued < $859Fair $859 – $1,224Overvalued > $1,224
P/E multiple
$1,047
P/B multiple
$866
P/S multiple
$782
EV/EBITDA multiple
$1,089
EV/EBIT multiple
$971
EV/revenue multiple
$846
10-year DCF, EBITDA exit
$1,281
5-year DCF, EBITDA exit
$1,234
10-year DCF, revenue exit
$1,253
5-year DCF, revenue exit
$1,205
10-year DCF, growth exit
$974
5-year DCF, growth exit
$877
Dividend discount, stable · not used
$364
Dividend discount, multi-stage
$696
Earnings power value
$1,017
Growth the price implies
19.1%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
53/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.8%
Fair value vs price0.9×
Growth
Fair
70/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)11.4%
EPS growth (3y)9.2%
Growth consistency100%
Profitability
Fair
59/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital13.3%
Operating margin24.7%
Gross profitability20.9%
Financial health
Weak
29/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score4 / 9
Net debt / EBITDA3.1×
Interest coverNo interest cost
Dividends
Weak
23/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.7%
Quarterly results: last 6 quarters
+9.8%
Dec '24
+6.7%
Mar '25
+4.5%
Jun '25
+5.9%
Sep '25
+2.8%
Dec '25
+7.2%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.0B, diluted EPS $8.43.
Compare with peers
FERG Ferguson Enterprises I...56 FAST Fastenal Co53Other Trading Companies & Distributors companies by X-Ray Score.
SWOT analysis: United Rentals, Inc.
Strengthsinside the company
- Operating margin of 24.7% is well above the 17.5% median of sector peers, a sign of pricing power or lower costs.
- Revenue has grown 11.4% a year over three years (median 5.6% for sector peers).
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Revenue growth slowed to 4.9% last year from 11.4% a year over three years.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare URI with peers and sector
Medians of 80 Industrials peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): CAT 43, GE 49, RTX 51, GEV 50, UNP 45, DE 43.
| Metric | URI | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 50 | 51 | 51 |
| Valuation | 52 | 44 | 44 |
| Growth | 70 | 50 | 50 |
| Profitability | 59 | 50 | 50 |
| Financial health | 29 | 49 | 49 |
| Dividends | 23 | 53 | 53 |
Sector leaders: highest X-Ray Score in Industrials
URI ranks #42 of 81 in Industrials by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for URI
Each factor is rated by where URI stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 8 Good · 10 Average · 3 Bad of 21
Growth: 1 · 2 · 0
Profitability: 2 · 3 · 0
Financial strength: 1 · 0 · 3
Valuation: 0 · 4 · 0
Cash flow: 3 · 0 · 0
Efficiency: 1 · 1 · 0
| Factor | URI | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +11.4% | Good beats 84% | +5.6% | – | – |
| Revenue growth, last year | +4.9% | Average beats 53% | +4.5% | +13.9% | ▼ Worse |
| EPS growth, 3 years a year | +9.2% | Average beats 60% | +5.7% | – | – |
| Profitability | |||||
| Gross margin | 38.2% | Average beats 52% | 38.0% | 40.1% | ≈ In line |
| Operating margin | 24.7% | Good beats 82% | 17.5% | 26.5% | ≈ In line |
| Net margin | 15.3% | Good beats 69% | 12.8% | 16.8% | ≈ In line |
| Return on invested capital | 13.3% | Average beats 41% | 14.9% | – | – |
| Return on equity | 28.0% | Average beats 59% | 23.7% | 29.8% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 3.1x | Bad beats 11% | 1.8x | 3.1x | ≈ In line |
| Interest cover | 50.0x | Good beats 76% | 21.4x | – | – |
| Current ratio | 0.80 | Bad beats 10% | 1.25 | 0.94 | ▼ Worse |
| Piotroski F-score | 4 / 9 | Bad beats 3% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 27.9x | Average beats 54% | 28.9x | 17.5x | ▼ Worse |
| Price / book | 7.8x | Average beats 37% | 6.2x | 4.8x | ▼ Worse |
| Price / sales | 4.3x | Average beats 39% | 3.5x | 2.7x | ▼ Worse |
| EV / EBITDA | 18.7x | Average beats 49% | 18.5x | 12.7x | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 32.3% | Good beats 97% | 13.8% | 5.9% | ▲ Better |
| Cash from operations / net income | 2.11 | Good beats 84% | 1.39 | 2.08 | ≈ In line |
| Accruals (lower is better) | −9.3% | Good beats 94% | −3.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 39.5x | Good beats 90% | 4.0x | 41.5x | ≈ In line |
| Days sales outstanding | 57 days | Average beats 49% | 57 days | 57 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 5 Average · ● 4 BadCash quality
Earnings backed by cashGood
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Average
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 60/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $9.7B | $11.6B | $14.3B | $15.3B | $16.1B |
| Operating income | $2.3B | $3.2B | $3.8B | $4.1B | $4.0B |
| Net income | $1.4B | $2.1B | $2.4B | $2.6B | $2.5B |
| Operating cash flow | $3.7B | $4.4B | $4.7B | $4.5B | $5.2B |
| Operating margin | 23.4% | 27.8% | 26.7% | 26.5% | 24.7% |
| Free cash flow | $491M | $743M | $840M | $416M | – |
| Diluted EPS | $19.04 | $29.65 | $35.28 | $38.69 | $38.61 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 1,053.5 | Bullish |
| EMA 10 | 1,058.6 | Bullish |
| SMA 20 | 1,049.9 | Bullish |
| EMA 20 | 1,050.6 | Bullish |
| SMA 50 | 1,045.9 | Bullish |
| EMA 50 | 1,048.1 | Bullish |
| SMA 100 | 1,066.8 | Bullish |
| EMA 100 | 1,031.9 | Bullish |
| SMA 200 | 961.6 | Bullish |
| EMA 200 | 982.5 | Bullish |
Oscillators (daily)
| RSI (14) | 63.33 | Neutral |
| MACD (12, 26) | 7.39 | Bullish |
| Momentum (12) | 2.81 | Bullish |
| Stochastic %K (14) | 97.38 | Bearish |
| Williams %R (14) | -2.62 | Bearish |
| CCI (20) | 156.8 | Bearish |
Pivot points (classic, last session)
S3 1,000.1 | S2 1,023.4 | S1 1,067.2 | Pivot 1,090.5 | R1 1,134.3 | R2 1,157.7 | R3 1,201.4 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
7.70 USD
Yield on today's price
0.69%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.9700 | |
| 1.9700 | |
| 1.9700 | |
| 1.7900 | |
| 1.7900 | |
| 1.7900 | |
| 1.7900 | |
| 1.6300 | |
| 1.6300 | |
| 1.6300 | |
| 1.6300 | |
| 1.4800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold URI
| ETF | Share of the fund |
|---|---|
| PAVE Global X U.S. Infrastructure Developme... | 2.87% |
| IFRA iShares U.S. Infrastructure | 2.48% |
| XLI Industrial Select Sector SPDR | 1.23% |
| VOE Vanguard Mid-Cap Value | 1.22% |
| RSPN Invesco S&P 500 Equal Weight Industria... | 1.21% |
| FIDU Fidelity MSCI Industrials Index | 0.97% |
| VIS Vanguard Industrials | 0.90% |
| DUHP DFA Investment Dimensions Group Inc. | 0.89% |
The eight funds with the largest weight in URI among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
URI SEC filings
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.