United Rentals (URI)
Market Price (9/23/2026): $1039.86 | Market Cap: $65.0 BilSector: Industrials | Industry: Trading Companies & Distributors
United Rentals (URI)
Market Price (9/23/2026): $1039.86Market Cap: $65.0 BilSector: IndustrialsIndustry: Trading Companies & Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, CFO LTM is 5.7 Bil Stock buyback supportStock Buyback 3Y Total is 4.9 Bil Low stock price volatilityVol 12M is 43% Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, Water Infrastructure, and Offshore Wind Development. Show more. | Weak multi-year price returns2Y Excs Rtn is -0.3% | Key risksURI key risks include [1] margin compression from rising operational costs and a cooling used equipment market, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, CFO LTM is 5.7 Bil |
| Stock buyback supportStock Buyback 3Y Total is 4.9 Bil |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, Water Infrastructure, and Offshore Wind Development. Show more. |
| Weak multi-year price returns2Y Excs Rtn is -0.3% |
| Key risksURI key risks include [1] margin compression from rising operational costs and a cooling used equipment market, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/22/2026
United Rentals (URI) stock has gained about 5% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance.
United Rentals reported record financial results for fiscal Q2 2026 on July 22, 2026, significantly exceeding analyst expectations. The company achieved an adjusted earnings per share (EPS) of $12.76, surpassing the consensus estimate of $11.53 by $1.23. Total revenue also climbed to $4.41 billion, an 11.8% year-over-year increase, outperforming analysts' projections of $4.22 billion. Following these robust results, United Rentals raised its full-year 2026 guidance for revenue, adjusted EBITDA, and net rental capital expenditures, signaling continued strong performance expectations.
2. Sustained Demand in Key Construction Sectors.
The construction market continued to show resilience, with particular strength observed in large-scale projects and specialized segments. Management highlighted ongoing customer optimism, especially concerning major projects in areas such as digital infrastructure, advanced manufacturing, and energy. The company noted that the pipeline for these large projects was accelerating beyond initial expectations, contributing to increased rental demand.
Show more
United Rentals (URI) stock has gained about 5% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance.
United Rentals reported record financial results for fiscal Q2 2026 on July 22, 2026, significantly exceeding analyst expectations. The company achieved an adjusted earnings per share (EPS) of $12.76, surpassing the consensus estimate of $11.53 by $1.23. Total revenue also climbed to $4.41 billion, an 11.8% year-over-year increase, outperforming analysts' projections of $4.22 billion. Following these robust results, United Rentals raised its full-year 2026 guidance for revenue, adjusted EBITDA, and net rental capital expenditures, signaling continued strong performance expectations.
2. Sustained Demand in Key Construction Sectors.
The construction market continued to show resilience, with particular strength observed in large-scale projects and specialized segments. Management highlighted ongoing customer optimism, especially concerning major projects in areas such as digital infrastructure, advanced manufacturing, and energy. The company noted that the pipeline for these large projects was accelerating beyond initial expectations, contributing to increased rental demand.
Show more
Updated on 9/22/2026
United Rentals (URI) stock has gained about 5% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance.
United Rentals reported record financial results for fiscal Q2 2026 on July 22, 2026, significantly exceeding analyst expectations. The company achieved an adjusted earnings per share (EPS) of $12.76, surpassing the consensus estimate of $11.53 by $1.23. Total revenue also climbed to $4.41 billion, an 11.8% year-over-year increase, outperforming analysts' projections of $4.22 billion. Following these robust results, United Rentals raised its full-year 2026 guidance for revenue, adjusted EBITDA, and net rental capital expenditures, signaling continued strong performance expectations.
2. Sustained Demand in Key Construction Sectors.
The construction market continued to show resilience, with particular strength observed in large-scale projects and specialized segments. Management highlighted ongoing customer optimism, especially concerning major projects in areas such as digital infrastructure, advanced manufacturing, and energy. The company noted that the pipeline for these large projects was accelerating beyond initial expectations, contributing to increased rental demand.
3. Commitment to Shareholder Returns.
United Rentals demonstrated a continued commitment to returning capital to shareholders. As of fiscal Q2 2026, the company had returned $998 million year-to-date through share repurchases totaling $750 million and dividend payments of $248 million. Additionally, the company declared a quarterly cash dividend of $1.97 per share, payable in August 2026, and reiterated its plan to complete $1.5 billion in share repurchases for the entirety of fiscal year 2026.
4. Predominantly Positive Analyst Sentiment.
Despite some recent downgrades from a few firms in September 2026, citing potential impacts from higher interest rates on local construction, the overall analyst consensus for United Rentals remained a "Moderate Buy." The average price target suggested a significant potential upside from the stock's prevailing price. Several analysts maintained or reiterated "Buy" or "Overweight" ratings and increased their price targets following the strong fiscal Q2 2026 earnings report.
Show less
United Rentals (URI) stock has gained about 5% since 5/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings and Upgraded Full-Year Guidance.
United Rentals reported record financial results for fiscal Q2 2026 on July 22, 2026, significantly exceeding analyst expectations. The company achieved an adjusted earnings per share (EPS) of $12.76, surpassing the consensus estimate of $11.53 by $1.23. Total revenue also climbed to $4.41 billion, an 11.8% year-over-year increase, outperforming analysts' projections of $4.22 billion. Following these robust results, United Rentals raised its full-year 2026 guidance for revenue, adjusted EBITDA, and net rental capital expenditures, signaling continued strong performance expectations.
2. Sustained Demand in Key Construction Sectors.
The construction market continued to show resilience, with particular strength observed in large-scale projects and specialized segments. Management highlighted ongoing customer optimism, especially concerning major projects in areas such as digital infrastructure, advanced manufacturing, and energy. The company noted that the pipeline for these large projects was accelerating beyond initial expectations, contributing to increased rental demand.
3. Commitment to Shareholder Returns.
United Rentals demonstrated a continued commitment to returning capital to shareholders. As of fiscal Q2 2026, the company had returned $998 million year-to-date through share repurchases totaling $750 million and dividend payments of $248 million. Additionally, the company declared a quarterly cash dividend of $1.97 per share, payable in August 2026, and reiterated its plan to complete $1.5 billion in share repurchases for the entirety of fiscal year 2026.
4. Predominantly Positive Analyst Sentiment.
Despite some recent downgrades from a few firms in September 2026, citing potential impacts from higher interest rates on local construction, the overall analyst consensus for United Rentals remained a "Moderate Buy." The average price target suggested a significant potential upside from the stock's prevailing price. Several analysts maintained or reiterated "Buy" or "Overweight" ratings and increased their price targets following the strong fiscal Q2 2026 earnings report.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 4.9% change in URI stock from 5/31/2026 to 9/22/2026 was primarily driven by a 2.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 993.95 | 1043.04 | 4.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,365 | 16,832 | 2.9% |
| Net Income Margin (%) | 15.3% | 15.7% | 2.3% |
| P/E Multiple | 24.9 | 24.7 | -0.9% |
| Shares Outstanding (Mil) | 63 | 63 | 0.6% |
| Cumulative Contribution | 4.9% |
Market Drivers
5/31/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| URI | 4.9% | |
| Market (SPY) | 2.5% | 24.9% |
| Sector (XLI) | -1.4% | 61.4% |
Fundamental Drivers
The 24.6% change in URI stock from 2/28/2026 to 9/22/2026 was primarily driven by a 16.3% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 836.82 | 1043.04 | 24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,099 | 16,832 | 4.6% |
| Net Income Margin (%) | 15.5% | 15.7% | 1.2% |
| P/E Multiple | 21.3 | 24.7 | 16.3% |
| Shares Outstanding (Mil) | 63 | 63 | 1.3% |
| Cumulative Contribution | 24.6% |
Market Drivers
2/28/2026 to 9/22/2026| Return | Correlation | |
|---|---|---|
| URI | 24.6% | |
| Market (SPY) | 13.3% | 25.0% |
| Sector (XLI) | -3.4% | 54.9% |
Fundamental Drivers
The 10.0% change in URI stock from 8/31/2025 to 9/22/2026 was primarily driven by a 6.9% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 948.59 | 1043.04 | 10.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,749 | 16,832 | 6.9% |
| Net Income Margin (%) | 16.1% | 15.7% | -2.7% |
| P/E Multiple | 24.3 | 24.7 | 1.9% |
| Shares Outstanding (Mil) | 65 | 63 | 3.7% |
| Cumulative Contribution | 10.0% |
Market Drivers
8/31/2025 to 9/22/2026| Return | Correlation | |
|---|---|---|
| URI | 10.0% | |
| Market (SPY) | 21.2% | 28.9% |
| Sector (XLI) | 13.5% | 50.6% |
Fundamental Drivers
The 125.0% change in URI stock from 8/31/2023 to 9/22/2026 was primarily driven by a 77.5% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9222026 | Change |
|---|---|---|---|
| Stock Price ($) | 463.67 | 1043.04 | 125.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13,186 | 16,832 | 27.7% |
| Net Income Margin (%) | 17.3% | 15.7% | -9.6% |
| P/E Multiple | 13.9 | 24.7 | 77.5% |
| Shares Outstanding (Mil) | 69 | 63 | 9.9% |
| Cumulative Contribution | 125.0% |
Market Drivers
8/31/2023 to 9/22/2026| Return | Correlation | |
|---|---|---|
| URI | 125.0% | |
| Market (SPY) | 78.3% | 51.7% |
| Sector (XLI) | 64.3% | 65.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| URI Return | 43% | 7% | 64% | 24% | 16% | 28% | 361% |
| Peers Return | 58% | -2% | 6% | -14% | -15% | 19% | 44% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| URI Win Rate | 58% | 50% | 58% | 67% | 50% | 44% | |
| Peers Win Rate | 72% | 48% | 53% | 42% | 45% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| URI Max Drawdown | -18% | -35% | -32% | -20% | -30% | -26% | |
| Peers Max Drawdown | -24% | -36% | -37% | -40% | -45% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HRI, WSC, MGRC, CTOS, ALTG. See URI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/22/2026 (YTD)
How Low Can It Go
| Event | URI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.2% | -18.8% |
| % Gain to Breakeven | 28.5% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.1% | -9.5% |
| % Gain to Breakeven | 12.5% | 10.5% |
| Time to Breakeven | 7 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.6% | -6.7% |
| % Gain to Breakeven | 40.1% | 7.1% |
| Time to Breakeven | 57 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.7% | -24.5% |
| % Gain to Breakeven | 40.2% | 32.4% |
| Time to Breakeven | 49 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.7% | -33.7% |
| % Gain to Breakeven | 120.6% | 50.9% |
| Time to Breakeven | 79 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.1% | -19.2% |
| % Gain to Breakeven | 72.6% | 23.8% |
| Time to Breakeven | 359 days | 105 days |
In The Past
United Rentals's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.5% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | URI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.2% | -18.8% |
| % Gain to Breakeven | 28.5% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -28.6% | -6.7% |
| % Gain to Breakeven | 40.1% | 7.1% |
| Time to Breakeven | 57 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -28.7% | -24.5% |
| % Gain to Breakeven | 40.2% | 32.4% |
| Time to Breakeven | 49 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.7% | -33.7% |
| % Gain to Breakeven | 120.6% | 50.9% |
| Time to Breakeven | 79 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.1% | -19.2% |
| % Gain to Breakeven | 72.6% | 23.8% |
| Time to Breakeven | 359 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -33.9% | -12.2% |
| % Gain to Breakeven | 51.3% | 13.9% |
| Time to Breakeven | 71 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -63.2% | -6.8% |
| % Gain to Breakeven | 171.5% | 7.3% |
| Time to Breakeven | 350 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -50.5% | -17.9% |
| % Gain to Breakeven | 102.1% | 21.8% |
| Time to Breakeven | 88 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -40.0% | -15.4% |
| % Gain to Breakeven | 66.7% | 18.2% |
| Time to Breakeven | 29 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -84.1% | -53.4% |
| % Gain to Breakeven | 528.7% | 114.4% |
| Time to Breakeven | 603 days | 1085 days |
In The Past
United Rentals's stock fell -22.2% during the 2025 US Tariff Shock. Such a loss loss requires a 28.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About United Rentals (URI)
United Rentals (URI) is a leading equipment rental company primarily serving North America, with additional operations in Europe and Australia/New Zealand. The company's core business involves renting a comprehensive range of construction and industrial equipment to various customers, complemented by sales of used equipment, new construction consumables, and repair and maintenance services.
The company operates through two main segments. Its General Rentals segment provides standard construction and industrial equipment such as backhoes, skid-steer loaders, forklifts, aerial work platforms, and general tools. The Specialty segment focuses on more niche requirements, offering trench safety equipment, power and HVAC solutions, fluid solutions equipment, and mobile storage/modular office space.
United Rentals serves a diverse array of primary customers and markets. These include construction companies (involved in general and infrastructure projects), industrial companies, manufacturers, utilities, municipalities, government entities, and even homeowners. This broad customer base spans across its extensive network of over 1,300 rental locations.
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Here are 1-3 brief analogies for United Rentals (URI):
Enterprise Rent-A-Car for construction and industrial equipment.
Netflix for heavy machinery and construction tools.
AI Analysis | Feedback
- General Construction & Industrial Equipment Rental: United Rentals offers a wide range of rental equipment including backhoes, forklifts, earthmoving machinery, aerial work platforms, and general tools for various construction and industrial needs.
- Specialty Construction Products Rental: This segment provides rentals for specialized applications, such as trench safety equipment, power and HVAC equipment, fluid solutions, and mobile storage or modular office units.
- New Equipment Sales: The company sells new aerial lifts, reach forklifts, telehandlers, compressors, and generators directly to customers.
- Used Equipment Sales: United Rentals sells used equipment through various channels, including its sales force, brokers, website, and auctions.
- Construction Supplies Sales: The company offers construction consumables, tools, small equipment, and safety supplies for sale.
- Equipment Parts Sales: United Rentals sells parts specifically for equipment owned by its customers.
- Equipment Repair & Maintenance Services: The company provides repair and maintenance services for customer-owned equipment.
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United Rentals, Inc. (URI) primarily serves other companies and organizations (Business-to-Business or B2B). While the background information does not specify individual major customer company names, it identifies several broad categories of entities that constitute its major customer base:
- Construction companies (including those involved in infrastructure projects)
- Industrial companies
- Manufacturers
- Utilities
- Municipalities and government entities
As specific company names are not detailed in the provided description, no corresponding public symbols can be listed.
Additionally, the company serves homeowners in its General Rentals segment, which represents a Business-to-Consumer (B2C) customer category for general tools and light equipment.
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- Caterpillar (CAT)
- JLG Industries (OSK)
- Genie (TEX)
- John Deere (DE)
- Komatsu America Corp. (KMTUY)
- Kubota Tractor Corporation (KUBTY)
- LGMG North America
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Matthew J. Flannery – President and Chief Executive Officer
Matthew J. Flannery was appointed Chief Executive Officer of United Rentals in May 2019 and President in March 2018. He joined the company in 1998 as part of the acquisition of McClinch Equipment, where he had served as a branch manager. With over three decades of experience in the rental industry, he has held numerous senior management positions within United Rentals, including Executive Vice President and Chief Operating Officer. Mr. Flannery holds a degree from Hofstra University.
Ted Grace – Executive Vice President and Chief Financial Officer
Ted Grace was appointed Executive Vice President and Chief Financial Officer of United Rentals, effective November 3, 2022, after serving as interim Chief Financial Officer since July 29, 2022. He joined United Rentals in 2016 as Vice President of Investor Relations. Before joining United Rentals, Mr. Grace spent two decades as an investment banker and research analyst with various institutions, including a role as a research analyst at Susquehanna International.
Michael Durand – Executive Vice President and Chief Operating Officer
Michael Durand was promoted to Executive Vice President and Chief Operating Officer in September 2023. He started his career at United Rentals in 2002 as a branch manager. Since then, he has advanced through various leadership roles, including district manager, regional sales and marketing director, region vice president, and senior vice president of sales and operations. Prior to United Rentals, he worked as a district manager for Ferrellgas starting in 1999 and later for Dryair.
Craig A. Pintoff – Executive Vice President and Chief Administrative Officer
Craig A. Pintoff was promoted to Executive Vice President and Chief Administrative Officer in March 2017. He joined United Rentals in 2003 as Director—Legal Affairs. His prior experience includes serving as chief benefits and employment counsel for Crompton Corporation and working as an attorney at White & Case LLP. Mr. Pintoff holds a Juris Doctor from Columbia Law School and an LL.M. from New York University School of Law.
Joli Gross – Senior Vice President, Chief Legal & Sustainability Officer, Corporate Secretary
Joli Gross currently serves as Senior Vice President, Chief Legal & Sustainability Officer, and Corporate Secretary, a title she has held since January 2024. She has been part of United Rentals' legal department since 2002, holding various positions over the years. Before joining the company, Ms. Gross was an associate at Day, Berry & Howard, focusing on commercial real estate and contracts, and at Edwards & Angell, specializing in civil litigation. She earned a Juris Doctor from the New England School of Law and a Bachelor of Arts from Boston University. Additionally, Ms. Gross has served as a director of GXO Logistics since August 2021.
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United Rentals (URI) faces several key risks inherent to its business model and the industries it serves:
- Economic Downturn and Cyclical Demand: As an equipment rental company serving construction and industrial sectors, United Rentals' business is highly sensitive to general economic conditions and the level of capital expenditures by its customers. A significant economic slowdown or recession could lead to decreased construction activity, reduced demand for rental equipment, lower utilization rates, and pricing pressure, directly impacting revenue and profitability.
- Interest Rate Fluctuations and Access to Capital: United Rentals operates a large and capital-intensive equipment fleet. The company relies on financing for equipment acquisition and fleet modernization. Rising interest rates could increase borrowing costs, affecting profitability and potentially limiting the company's ability to invest in new equipment or refinance existing debt at favorable terms. This could also indirectly impact customer demand as higher financing costs for customers may reduce their overall project budgets.
- Competition and Pricing Pressure: The equipment rental market is competitive, with a mix of national, regional, and local players. Intense competition could lead to pricing pressure, particularly during periods of softening demand, which could compress rental rates and negatively impact United Rentals' margins and market share.
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Original equipment manufacturers (OEMs) increasingly offering their heavy machinery and specialized equipment directly as a service (EaaS) or through expanded direct rental programs. These programs leverage advancements in IoT, telematics, and data analytics to provide usage-based billing, predictive maintenance, and integrated service solutions directly to contractors and industrial clients. This allows OEMs to capture more of the value chain, control the customer relationship, and potentially offer more optimized and cost-effective solutions that bypass third-party rental companies like United Rentals.
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United Rentals (URI) operates within several addressable markets related to equipment rental, sales, and services. The market sizes for their main products and services vary by product type and geographic region.
General Rentals Segment
- Construction Equipment Rental Market (Global): The global construction equipment rental market was valued at USD 213.68 billion in 2025 and is projected to reach USD 339.04 billion by 2033, growing at a CAGR of 6.1% from 2026 to 2033.
- Construction Equipment Rental Market (U.S.): The U.S. construction equipment rental market generated revenue of USD 57,505.4 million in 2025 and is expected to reach USD 82,463.9 million by 2033.
Specialty Segment
- Trench Safety Equipment Market (U.S.): The U.S. trench shoring equipment market size was estimated at USD 455.6 million in 2023 and is projected to grow to USD 677.0 million by 2030.
- Trench Shoring Equipment Rental Market (North America): The North American trench shoring equipment rental market reached revenues of USD 1,858.5 million in 2022.
- Power Rental Market (Global): The global power rental market size was valued at USD 23.0 billion in 2025 and is estimated to reach USD 38.3 billion by 2034.
- Power Rental Market (U.S.): The power rental market in the U.S. is projected to grow significantly, reaching an estimated value of USD 3.88 billion by 2032. North America currently dominates the global power rental market, holding a significant market share of over 33.7% in 2025.
- HVAC Rental Equipment Market (Global): The HVAC rental equipment market is estimated to reach USD 2.12 billion, growing at a CAGR of 5.9% between 2024 and 2029.
- Fluid Solutions Equipment: null
- Mobile Storage and Modular Office Space Market (U.S.): The U.S. modular container market generated revenue of USD 7,891.4 million in 2023 and is expected to reach USD 14,420.8 million by 2030.
- Modular Space Rental Market (North America): The North American modular space rental market is forecast to reach USD 6.1 billion by 2030.
Sales of Used Equipment
- Used Construction Equipment Market (Global): The global pre-owned construction equipment market size was valued at USD 165,162.2 million in 2021 and is projected to reach USD 484,310.7 million by 2031. North America holds approximately 40% of the global market share.
Sales of Construction Consumables, Tools, Small Equipment, and Safety Supplies
- Construction Worker Safety Market (Global): The global construction worker safety market size was estimated to be worth USD 3.74 billion in 2024 and is projected to reach USD 10.45 billion by 2035. North America dominated this market with a major share of around 34% in 2023.
- Construction Consumables, Tools, Small Equipment: null
Repair and Maintenance Services
- Construction Equipment Repair and Maintenance Service Market (Global): The global construction equipment repair and maintenance service market size was valued at USD 34.6 billion in 2024 and is projected to grow to USD 52.6 billion by 2034.
- Construction Equipment Repair and Maintenance Service Market (U.S.): The construction equipment repair and maintenance service market in the U.S. is estimated at USD 9.1 billion in 2024.
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United Rentals (URI) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Continued Expansion of the Specialty Segment: United Rentals is strategically focused on growing its higher-margin specialty segments, which have demonstrated impressive historical growth. The company plans to expand its specialty footprint through new "cold starts" (new locations), aiming for at least 50 in 2025 and 40 in 2026. This expansion includes areas such as fluid solutions, matting solutions, site services, portable storage & modular space, power & HVAC, tool solutions, and trench safety.
- Increased Demand from Large Project Activity: Significant demand is anticipated from large projects across various sectors. This includes substantial activity in infrastructure, non-residential construction, data centers, chip manufacturing, sports stadiums, and power projects. The company's project pipeline is reported to be larger than ever, with new projects kicking off in healthcare, pharmaceuticals, and infrastructure.
- Optimization of Fleet Productivity through Rental Rate and Time Factors: United Rentals aims to enhance fleet productivity by focusing on positive rental rates and maximizing time utilization of its equipment. This operational efficiency is expected to contribute to rental revenue growth.
- Strategic Acquisitions: Acquisitions remain a key component of United Rentals' growth strategy and capital allocation plan. The company has a history of strategic moves, such as the acquisition of H&E Equipment Services in January 2025, to expand its fleet, geographic presence, and service offerings, thereby solidifying its market leadership.
- Leveraging "One-Stop-Shop" Approach and Cross-Selling: By providing a comprehensive range of both general and specialty rental solutions, United Rentals emphasizes its "one-stop-shop" approach. This strategy aims to meet diverse customer needs, enhance service, and enable cross-selling across its offerings, ultimately capturing a larger share of customer spending.
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Share Repurchases
- United Rentals returned $1.000 billion to shareholders via share repurchases in 2023.
- In 2024, the company repurchased $1.500 billion in shares.
- United Rentals increased its planned share repurchases in 2025 by $400 million to $1.9 billion. The company also announced a new $5 billion share repurchase program in January 2026, with plans to repurchase $1.5 billion of common stock in 2026.
Outbound Investments
- In 2021, United Rentals completed the acquisitions of General Finance Corporation, Franklin Equipment, LLC, and Norris Sales Company.
- The company acquired Ahern Rentals in December 2022 and Able Equipment Rental, Inc. in February 2023.
- United Rentals acquired Yak Access for nearly $1 billion in March 2024 and agreed to acquire H&E Equipment Services, Inc. for approximately $4.8 billion in enterprise value, a transaction expected to close in the first quarter of 2025.
Capital Expenditures
- United Rentals reported full-year gross rental capital expenditures of $3.508 billion in 2023.
- In 2024, gross rental equipment purchases were $3.756 billion, primarily directed towards replacing aging assets and expanding capacity in high-demand segments, particularly within the Specialty business.
- For 2025, the company guided gross fleet capital expenditures between $3.65 billion and $3.95 billion, with approximately $3.3 billion allocated for replacement and $500 million for growth. Additionally, 2026 outlook for gross purchases is projected to be between $4.3 billion and $4.7 billion.
Peer Outperformance in Trading Companies & Distributors
URI has outperformed 83% of its 18 Trading Companies & Distributors peers over 5Y. Among the peers that beat it is DXPE. Trading Companies & Distributors ranks 5th of 23 industries in Industrials by median 5Y return.
Share of Trading Companies & Distributors constituents that URI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
58%
of 19 industry peers · 11.5% return
3Y
83%
of 18 industry peers · 147.4% return
5Y
83%
of 18 industry peers · 205.0% return
Trading Companies & Distributors peers with revenue growth within 4pp of URI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| URI | United Rentals | 8.5% | 24.7x | 11.5% | 147.4% | 205.0% | — |
| DXPE | DXP Enterprises | 9.2% | 31.6x | 63.0% | 449.7% | 562.7% | +358pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Trading Companies & Distributors is URI's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 4.9% | 113.4% | 189.3% | STRL 2263% · CDNL 2216% · FIX 2188% |
| Marine Transportation | 9 | 75.9% | 107.9% | 157.6% | HOS 44163% · ASC 540% · MATX 195% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 5.8% | 51.3% | 128.1% | CAT 348% · ALSN 247% · WAB 234% |
| Aerospace & Defense | 56 | -6.7% | 74.0% | 73.2% | ATI 1012% · FTAI 956% · HWM 621% |
| Trading Companies & Distributors ← | 19 | 8.8% | 43.2% | 59.2% | DXPE 563% · AIT 295% · WCC 220% |
| Rail Transportation | 7 | 24.1% | 55.7% | 52.3% | FSTR 144% · CSX 65% · RAIL 63% |
| Industrial Machinery & Supplies & Components | 73 | 9.4% | 55.0% | 38.9% | CRS 1184% · PSIX 1105% · EROC 637% |
| Diversified Support Services | 33 | 11.4% | 36.2% | 34.5% | LIME 3198% · TH 445% · WLFC 358% |
| Cargo Ground Transportation | 16 | 35.3% | 0.2% | 29.7% | XPO 240% · R 228% · CVLG 155% |
| Electrical Components & Equipment | 41 | -1.0% | 62.2% | 24.6% | POWL 2390% · BE 1308% · VRT 957% |
| Building Products | 34 | -13.8% | 1.8% | 18.9% | LMB 638% · GFF 399% · PPIH 291% |
| Passenger Ground Transportation | 3 | -31.7% | 49.9% | 4.9% | UBER 54% · CAR 5% · LYFT -73% |
| Industrial Conglomerates | 17 | 12.1% | 9.3% | 2.7% | RCMT 455% · CSW 148% · DD 76% |
| Agricultural & Farm Machinery | 17 | 2.1% | 3.8% | -5.6% | BLBD 191% · DE 114% · GENC 62% |
| Environmental & Facilities Services | 29 | -9.4% | 21.8% | -6.3% | CECO 958% · ADUR 422% · NVRI 350% |
| Research & Consulting Services | 14 | -15.6% | -24.4% | -12.9% | HURN 205% · CRAI 73% · GRNQ 62% |
| Data Processing & Outsourced Services | 6 | -33.8% | -15.3% | -26.3% | EXLS 42% · BR 6% · G -25% |
| Passenger Airlines | 11 | 10.5% | 22.0% | -29.9% | LTM 3123% · UAL 143% · SKYW 107% |
| Office Services & Supplies | 9 | 8.6% | 13.0% | -34.5% | PBI 171% · TILE 145% · HNI 52% |
| Human Resource & Employment Services | 22 | 4.2% | -14.1% | -37.6% | BBSI 84% · ADP 50% · PAYX 21% |
| Air Freight & Logistics | 12 | -23.0% | -20.9% | -39.3% | CHRW 90% · FDX 78% · EXPD 59% |
| Security & Alarm Services | 10 | -24.5% | 17.1% | -46.6% | CIX 161% · MG 127% · NL 75% |
| Airport Services | 3 | -73.9% | -77.8% | -61.5% | JOBY -39% · ASLE -62% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 65.91 |
| Mkt Cap | 3.0 |
| Rev LTM | 2,164 |
| Op Inc LTM | 353 |
| FCF LTM | 9 |
| FCF 3Y Avg | 17 |
| CFO LTM | 478 |
| CFO 3Y Avg | 474 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.0% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 7.0% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 2.0% |
| Op Inc Chg 3Y Avg | 4.0% |
| Op Mgn LTM | 16.8% |
| Op Mgn 3Y Avg | 19.6% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 26.5% |
| CFO/Rev 3Y Avg | 28.5% |
| FCF/Rev LTM | 0.3% |
| FCF/Rev 3Y Avg | 1.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.0 |
| P/S | 1.3 |
| P/Op Inc | 11.9 |
| P/EBIT | 12.5 |
| P/E | 21.5 |
| P/CFO | 7.9 |
| Total Yield | 2.0% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 1.0% |
| D/E | 1.2 |
| Net D/E | 1.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.2% |
| 3M Rtn | -8.5% |
| 6M Rtn | 27.1% |
| 12M Rtn | 3.5% |
| 3Y Rtn | 22.2% |
| 1M Excs Rtn | -5.4% |
| 3M Excs Rtn | -13.9% |
| 6M Excs Rtn | 8.6% |
| 12M Excs Rtn | -12.9% |
| 3Y Excs Rtn | -54.4% |
Comparison Analyses
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| ANDA213456 | COLESEVELAM HYDROCHLORIDE | colesevelam hydrochloride | tablet | 1212022 | 5.9% | -7.7% | 29.1% | 95.2% | 264.6% |
| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| ANDA213456 | COLESEVELAM HYDROCHLORIDE | colesevelam hydrochloride | tablet | 1212022 | 5.9% | -7.7% | 29.1% | 95.2% | 264.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| General rentals | 11,001 | 10,845 | 10,697 | 8,584 | 7,351 |
| Specialty | 5,098 | 4,500 | 3,635 | 3,058 | 2,365 |
| Total | 16,099 | 15,345 | 14,332 | 11,642 | 9,716 |
| $ Mil | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|
| General Rentals | 1,239 | 377 | 199 | 123 | 478 |
| Gross profit from other lines of business | 223 | ||||
| Trench safety, power and HVAC | 125 | 57 | 32 | ||
| Restructuring charge | -99 | -19 | -34 | ||
| Unallocated RSC merger related costs | -897 | -19 | |||
| Trench safety, pump and power | 22 | ||||
| elimination | -31 | ||||
| Trench safety,pump and power | 53 | ||||
| Total | 591 | 396 | 197 | 114 | 531 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| General rentals | 21,787 | 21,044 | 20,411 | 19,604 | 16,087 |
| Specialty | 8,079 | 7,119 | 5,178 | 4,579 | 4,205 |
| Total | 29,866 | 28,163 | 25,589 | 24,183 | 20,292 |
Price Behavior
Price Behavior
| Market Price | $1,043.04 | |
| Market Cap ($ Bil) | 65.2 | |
| First Trading Date | 12/18/1997 | |
| Distance from 52W High | -10.5% | |
| 50 Days | 200 Days | |
| DMA Price | $1,067.20 | $935.97 |
| DMA Trend | up | down |
| Distance from DMA | -2.3% | 11.4% |
| 3M | 1YR | |
| Volatility | 37.6% | 43.2% |
| Downside Capture | 43.80 | 75.64 |
| Upside Capture | 23.83 | 74.39 |
| Correlation (SPY) | 20.8% | 28.9% |
URI Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.36 | 0.49 | 0.69 | 0.84 | 0.96 | 1.33 |
| Up Beta | 2.50 | 2.29 | 1.10 | 1.26 | 1.43 | 1.40 |
| Down Beta | 3.63 | -0.51 | 0.81 | 1.37 | 1.08 | 1.30 |
| Up Capture | 8% | -20% | 57% | 67% | 66% | 250% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 12 | 23 | 37 | 72 | 134 | 392 |
| Down Capture | 114% | 41% | 44% | 40% | 86% | 106% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 9 | 19 | 27 | 55 | 117 | 359 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with URI | |
|---|---|---|---|---|
| URI | 11.7% | 43.1% | 0.36 | - |
| Sector ETF (XLI) | 12.7% | 17.2% | 0.53 | 50.2% |
| Equity (SPY) | 17.6% | 13.0% | 0.98 | 28.9% |
| Gold (GLD) | 18.0% | 29.3% | 0.56 | 10.2% |
| Commodities (DBC) | 46.6% | 20.7% | 1.75 | -10.5% |
| Real Estate (VNQ) | 5.2% | 13.6% | 0.12 | 19.4% |
| Bitcoin (BTCUSD) | -26.0% | 44.9% | -0.54 | 14.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with URI | |
|---|---|---|---|---|
| URI | 26.8% | 39.1% | 0.70 | - |
| Sector ETF (XLI) | 12.7% | 17.6% | 0.55 | 70.8% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 59.2% |
| Gold (GLD) | 18.9% | 18.8% | 0.81 | 4.8% |
| Commodities (DBC) | 10.8% | 19.6% | 0.43 | 13.6% |
| Real Estate (VNQ) | 1.0% | 18.9% | -0.05 | 46.9% |
| Bitcoin (BTCUSD) | 12.7% | 52.6% | 0.42 | 26.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with URI | |
|---|---|---|---|---|
| URI | 29.8% | 42.2% | 0.76 | - |
| Sector ETF (XLI) | 13.3% | 20.0% | 0.58 | 73.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 63.6% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 1.3% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 27.2% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 47.3% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 17.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | 10.1% | 1.9% | 6.0% |
| 4/22/2026 | 22.9% | 18.6% | 16.4% |
| 1/28/2026 | -12.9% | -6.1% | -6.8% |
| 10/22/2025 | -7.8% | -12.2% | -22.2% |
| 7/23/2025 | 9.0% | 9.6% | 11.0% |
| 4/23/2025 | 9.9% | 7.2% | 19.7% |
| 1/29/2025 | 2.1% | -2.7% | -15.1% |
| 10/23/2024 | -1.1% | -2.6% | 1.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 18 | 17 | 19 |
| # Negative | 6 | 7 | 5 |
| Median Positive | 5.6% | 6.0% | 11.0% |
| Median Negative | -2.9% | -2.7% | -8.5% |
| Max Positive | 22.9% | 18.6% | 36.4% |
| Max Negative | -12.9% | -12.2% | -22.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | 10.1% | 1.9% | 6.0% |
| 4/22/2026 | 22.9% | 18.6% | 16.4% |
| 1/28/2026 | -12.9% | -6.1% | -6.8% |
| 10/22/2025 | -7.8% | -12.2% | -22.2% |
| 7/23/2025 | 9.0% | 9.6% | 11.0% |
| 4/23/2025 | 9.9% | 7.2% | 19.7% |
| 1/29/2025 | 2.1% | -2.7% | -15.1% |
| 10/23/2024 | -1.1% | -2.6% | 1.0% |
| 7/24/2024 | 5.4% | 5.8% | 0.4% |
| 4/24/2024 | 5.5% | -0.2% | 2.0% |
| 1/24/2024 | 13.0% | 8.4% | 14.4% |
| 10/25/2023 | 1.2% | 2.6% | 17.5% |
| 7/26/2023 | -0.9% | 5.2% | 0.5% |
| 4/26/2023 | -4.6% | -6.6% | -8.5% |
| 1/25/2023 | 9.9% | 15.9% | 15.1% |
| 10/26/2022 | 0.8% | 4.5% | 21.2% |
| 7/27/2022 | 6.1% | 10.6% | 11.3% |
| 4/27/2022 | 2.9% | 3.5% | -8.0% |
| 1/26/2022 | 3.9% | 6.0% | 2.8% |
| 10/27/2021 | 5.6% | 9.7% | 4.2% |
| 7/28/2021 | -1.1% | -0.7% | 6.7% |
| 4/28/2021 | 0.8% | 2.4% | 2.7% |
| 1/27/2021 | 7.3% | 6.1% | 25.9% |
| 10/28/2020 | 1.5% | 5.0% | 36.4% |
| SUMMARY STATS | |||
| # Positive | 18 | 17 | 19 |
| # Negative | 6 | 7 | 5 |
| Median Positive | 5.6% | 6.0% | 11.0% |
| Median Negative | -2.9% | -2.7% | -8.5% |
| Max Positive | 22.9% | 18.6% | 36.4% |
| Max Negative | -12.9% | -12.2% | -22.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/22/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 01/28/2026 | 10-K |
| 09/30/2025 | 10/22/2025 | 10-Q |
| 06/30/2025 | 07/23/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 01/29/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 01/24/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 01/25/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/22/2026 | 10-Q |
| 03/31/2026 | 04/22/2026 | 10-Q |
| 12/31/2025 | 01/28/2026 | 10-K |
| 09/30/2025 | 10/22/2025 | 10-Q |
| 06/30/2025 | 07/23/2025 | 10-Q |
| 03/31/2025 | 04/23/2025 | 10-Q |
| 12/31/2024 | 01/29/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/24/2024 | 10-Q |
| 03/31/2024 | 04/24/2024 | 10-Q |
| 12/31/2023 | 01/24/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/26/2023 | 10-Q |
| 12/31/2022 | 01/25/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 07/27/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 01/26/2022 | 10-K |
| 09/30/2021 | 10/27/2021 | 10-Q |
| 06/30/2021 | 07/28/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 01/27/2021 | 10-K |
| 09/30/2020 | 10/28/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/29/2020 | 10-Q |
| 12/31/2019 | 01/29/2020 | 10-K |
| 09/30/2019 | 10/16/2019 | 10-Q |
Recent Forward Guidance
Updated 7/23/2026Latest: Q2 2026 Earnings Reported 7/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net cash provided by operating activities | Reported | 5.85 Bil | 6.25 Bil | 6.65 Bil | 7.8% | Raised | Guidance: 5.80 Bil for 2026 | |
| 2026 Total Revenue | Reported | 17.50 Bil | 17.65 Bil | 17.80 Bil | 2.9% | Raised | Guidance: 17.15 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 7.97 Bil | 8.05 Bil | 8.12 Bil | 3.9% | Raised | Guidance: 7.75 Bil for 2026 | |
| 2026 Free cash flow excluding restructuring related payments | Reported | 2.15 Bil | 2.30 Bil | 2.45 Bil | 0 | Affirmed | Guidance: 2.30 Bil for 2026 | |
| 2026 Share Repurchases | Reported | 1.50 Bil | 0 | Affirmed | Guidance: 1.50 Bil for 2026 | |||
Prior: Q1 2026 Earnings Reported 4/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net cash provided by operating activities | Reported | 5.40 Bil | 5.80 Bil | 6.20 Bil | 1.8% | Raised | Guidance: 5.70 Bil for 2026 | |
| 2026 Total Revenue | Reported | 16.90 Bil | 17.15 Bil | 17.40 Bil | 0.6% | Raised | Guidance: 17.05 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 7.62 Bil | 7.75 Bil | 7.88 Bil | 0.6% | Raised | Guidance: 7.70 Bil for 2026 | |
| 2026 Free cash flow excluding restructuring related payments | Reported | 2.15 Bil | 2.30 Bil | 2.45 Bil | 0.0% | Affirmed | Guidance: 2.30 Bil for 2026 | |
| 2026 Share Repurchases | Reported | 1.50 Bil | 0.0% | Affirmed | Guidance: 1.50 Bil for 2026 | |||
Q4 2025 Earnings Reported 1/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net cash provided by operating activities | Reported | 5.30 Bil | 5.70 Bil | 6.10 Bil | 9.6% | Higher New | Actual: 5.20 Bil for 2025 | |
| 2026 Total revenue | Reported | 16.80 Bil | 17.05 Bil | 17.30 Bil | 5.9% | Higher New | Actual: 16.10 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 7.58 Bil | 7.70 Bil | 7.83 Bil | 4.4% | Higher New | Actual: 7.38 Bil for 2025 | |
| 2026 Free cash flow excluding merger and restructuring related payments | Reported | 2.15 Bil | 2.30 Bil | 2.45 Bil | 4.5% | Higher New | Actual: 2.20 Bil for 2025 | |
| 2026 Share Repurchases | Reported | 1.50 Bil | -21.1% | Lower New | Actual: 1.90 Bil for 2025 | |||
Q3 2025 Earnings Reported 10/22/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Net cash provided by operating activities | Reported | 5.00 Bil | 5.20 Bil | 5.40 Bil | 0 | Affirmed | Guidance: 5.20 Bil for 2025 | |
| 2025 Total Revenue | Reported | 16.00 Bil | 16.10 Bil | 16.20 Bil | 0.9% | Raised | Guidance: 15.95 Bil for 2025 | |
| 2025 Adjusted EBITDA | Reported | 7.33 Bil | 7.38 Bil | 7.42 Bil | 0 | Affirmed | Guidance: 7.38 Bil for 2025 | |
| 2025 Free cash flow excluding merger and restructuring related payments | Reported | 2.10 Bil | 2.20 Bil | 2.30 Bil | -12.0% | Lowered | Guidance: 2.50 Bil for 2025 | |
| 2025 Share Repurchases | Reported | 1.90 Bil | 0 | Affirmed | Guidance: 1.90 Bil for 2025 | |||
Insider Activity
Updated 7/24/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Grace, William E | EVP, CFO | Direct | Sell | 7242026 | 1133.15 | 1,500 | 1,699,732 | 6,868,789 | Form |
| 2 | Gross, Joli L | SVP, Chief LGL & Sustain. Off. | Direct | Sell | 4272026 | 954.99 | 306 | 292,227 | 5,479,549 | Form |
| 3 | Pintoff, Craig Adam | EVP, Chief Admin. Officer | Direct | Sell | 4272026 | 963.00 | 2,466 | 2,374,758 | 14,227,009 | Form |
| 4 | Limoges, Andrew B | VP, Controller | Direct | Sell | 4242026 | 977.86 | 548 | 535,868 | 1,823,833 | Form |
| 5 | Flannery, Matthew John | President & CEO | Direct | Sell | 4242026 | 984.98 | 22,768 | 22,425,934 | 98,478,171 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Grace, William E | EVP, CFO | Direct | Sell | 7242026 | 1133.15 | 1,500 | 1,699,732 | 6,868,789 | Form |
| 2 | Gross, Joli L | SVP, Chief LGL & Sustain. Off. | Direct | Sell | 4272026 | 954.99 | 306 | 292,227 | 5,479,549 | Form |
| 3 | Pintoff, Craig Adam | EVP, Chief Admin. Officer | Direct | Sell | 4272026 | 963.00 | 2,466 | 2,374,758 | 14,227,009 | Form |
| 4 | Limoges, Andrew B | VP, Controller | Direct | Sell | 4242026 | 977.86 | 548 | 535,868 | 1,823,833 | Form |
| 5 | Flannery, Matthew John | President & CEO | Direct | Sell | 4242026 | 984.98 | 22,768 | 22,425,934 | 98,478,171 | Form |
| 6 | Grace, William E | EVP, CFO | Direct | Sell | 2092026 | 790.89 | 1,498 | 1,184,519 | 5,434,864 | Form |
| 7 | Durand, Michael D | EVP, Chief Operating Officer | Direct | Sell | 2022026 | 791.14 | 2,490 | 1,969,946 | 5,899,978 | Form |
Investor Activity (13F)
Updated Sep 23, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
United Rentals — Investor Video Playlist
Products & Services
United Rentals AI Equipment Agent
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Construction Equipment Maintenance: A FORGE Testimonial
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United Rentals Commercial Truck Rentals: Telematics and Total Control®
Leadership
CEO Matt Flannery on Recruiting
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Downstream Oil and Gas Solutions That Reduce Downtime
Investor / Analyst
[Beat Expectations] United Rentals - 2024 Q3 Earnings Analysis
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Why Businesses Choose Power and HVAC Rentals
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Customer Equipment Solutions: Saunders Construction Testimonial
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Power Grid Solutions: Improving Grid Reliability & Resilience
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Trading Companies & Distributors Resources |
| Modern Distribution Management (MDM) |
| Industrial Distribution |
| Supply Chain Digital |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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