United Rentals, Inc. (URI) Income Statement
URI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsURI revenue and net income
Where URI's revenue goes
2025Each bar shows an amount and its share of revenue. URI kept 15.5% of revenue as net income.
URI profit margins
URI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.9% | +11.4% | +13.5% | +10.7% |
| Gross profit | −0.1% | +7.2% | +15.0% | +9.8% |
| Operating income | −2.3% | +7.1% | +16.5% | +10.0% |
| Net income | −3.1% | +5.8% | +22.9% | +15.6% |
| EPS (diluted) | −2.6% | +8.9% | +19.2% | +18.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
URI quarterly EPS vs estimates
United Rentals beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: October 21, 2026 (estimate $13.75).
URI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.10B | $15.35B | $14.33B | $11.64B | $9.72B | $8.53B | $9.35B | $8.05B | $6.64B | $5.76B |
| Cost of revenue | $10.39B | $9.63B | $8.95B | $7.01B | $6.22B | $5.70B | $6.09B | $4.99B | $4.11B | $3.58B |
| Gross profit | $5.71B | $5.71B | $5.38B | $4.63B | $3.50B | $2.83B | $3.26B | $3.06B | $2.53B | $2.18B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $1.73B | $1.65B | $1.51B | $1.40B | $1.20B | $979.0M | $1.09B | $1.04B | $903.0M | $719.0M |
| Total operating expenses | $1.73B | $1.65B | $1.53B | $1.40B | $1.20B | $979.0M | $1.09B | $1.04B | $903.0M | $719.0M |
| Operating income | $3.97B | $4.07B | $3.85B | $3.23B | $2.30B | $1.85B | $2.17B | $2.02B | $1.62B | $1.46B |
| Interest income | $716.0M | $691.0M | $635.0M | $445.0M | $424.0M | $669.0M | $648.0M | $481.0M | $464.0M | $511.0M |
| Interest expense | $716.0M | $691.0M | $635.0M | $445.0M | $424.0M | $669.0M | $648.0M | $481.0M | $464.0M | $511.0M |
| Income before taxes | $3.34B | $3.39B | $3.21B | $2.80B | $1.85B | $1.14B | $1.51B | $1.48B | $1.05B | $909.0M |
| Income taxes | $844.0M | $813.0M | $787.0M | $697.0M | $460.0M | $249.0M | $340.0M | $380.0M | −$298.0M | $343.0M |
| Net income | $2.49B | $2.58B | $2.42B | $2.10B | $1.39B | $890.0M | $1.17B | $1.10B | $1.35B | $566.0M |
| EBITDA | $7.16B | $6.98B | $6.63B | $5.46B | $4.25B | $3.80B | $4.20B | $3.63B | $2.84B | $2.57B |
| EPS (diluted) | $42.12 | $43.24 | $40.82 | $32.60 | $22.08 | $17.47 | $19.61 | $16.31 | $10.59 | $8.71 |
| Gross margin | 35.4% | 37.2% | 37.6% | 39.8% | 36.0% | 33.2% | 34.9% | 38.0% | 38.1% | 37.8% |
| Operating margin | 24.7% | 26.5% | 26.9% | 27.8% | 23.6% | 21.7% | 23.2% | 25.1% | 24.5% | 25.3% |
| Net margin | 15.5% | 16.8% | 16.9% | 18.1% | 14.3% | 10.4% | 12.6% | 13.6% | 20.3% | 9.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.41B | $3.98B | $4.21B | $4.23B | $3.94B | $3.72B | $4.09B | $3.99B | $3.77B | $3.48B | $3.73B | $3.77B |
| Cost of revenue | $2.68B | $2.52B | $2.73B | $2.67B | $2.52B | $2.48B | $2.57B | $2.45B | $2.36B | $2.24B | $2.27B | $2.29B |
| Gross profit | $1.73B | $1.47B | $1.48B | $1.56B | $1.43B | $1.24B | $1.52B | $1.54B | $1.41B | $1.24B | $1.46B | $1.48B |
| Sales, general & admin | $472.0M | $441.0M | $431.0M | $442.0M | $422.0M | $437.0M | $436.0M | $416.0M | $404.0M | $389.0M | $393.0M | $374.0M |
| Total operating expenses | $594.0M | $600.0M | $431.0M | $442.0M | $422.0M | $437.0M | $436.0M | $416.0M | $404.0M | $389.0M | $393.0M | $374.0M |
| Operating income | $1.14B | $869.0M | $1.05B | $1.11B | $1.00B | $805.0M | $1.09B | $1.12B | $1.00B | $853.0M | $1.07B | $1.10B |
| Interest income | — | — | $183.0M | $178.0M | $171.0M | $184.0M | $180.0M | $178.0M | — | — | — | $163.0M |
| Interest expense | $178.0M | $176.0M | $183.0M | $178.0M | $171.0M | $184.0M | $180.0M | $178.0M | $173.0M | $160.0M | $161.0M | $163.0M |
| Income before taxes | $1.01B | $701.0M | $874.0M | $937.0M | $839.0M | $688.0M | $909.0M | $949.0M | $835.0M | $695.0M | $902.0M | $943.0M |
| Income taxes | $254.0M | $170.0M | $221.0M | $236.0M | $217.0M | $170.0M | $220.0M | $241.0M | $199.0M | $153.0M | $223.0M | $240.0M |
| Net income | $753.0M | $531.0M | $653.0M | $701.0M | $622.0M | $518.0M | $689.0M | $708.0M | $636.0M | $542.0M | $679.0M | $703.0M |
| EBITDA | $2.00B | $1.67B | $1.86B | $1.91B | $1.77B | $1.62B | $1.85B | $1.86B | $1.73B | $1.54B | $1.76B | $1.80B |
| EPS (diluted) | $12.76 | $9.71 | $11.09 | $11.70 | $10.47 | $8.86 | $11.59 | $11.80 | $10.70 | $9.15 | $11.26 | $11.73 |
| Gross margin | 39.3% | 36.9% | 35.2% | 36.8% | 36.1% | 33.4% | 37.2% | 38.6% | 37.3% | 35.6% | 39.2% | 39.3% |
| Operating margin | 25.8% | 21.8% | 25.0% | 26.3% | 25.4% | 21.6% | 26.5% | 28.1% | 26.6% | 24.5% | 28.6% | 29.3% |
| Net margin | 17.1% | 13.3% | 15.5% | 16.6% | 15.8% | 13.9% | 16.8% | 17.7% | 16.9% | 15.6% | 18.2% | 18.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in URI's financial statements (latest annual report filed January 28, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
URI financial results
In fiscal year 2025 (ended December 31, 2025), United Rentals reported revenue of $16.1 billion, up 4.9% from the year before. It had net income of $2.5 billion (down 3.1%), a net profit margin of 15.5%. Diluted earnings per share came to $42.12. Over five years revenue grew at an average rate of 13.5% a year.
See the URI stock overview for the latest quote and news, or the URI chart for price history and technical indicators.
URI income statement FAQ
What is United Rentals's annual revenue?
United Rentals reported total revenue of $16.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 4.9% from $15.3 billion the previous year.
Is United Rentals profitable?
Yes. United Rentals reported net income of $2.5 billion in fiscal 2025, a net profit margin of 15.5%; its operating margin was 24.7%.
What is United Rentals's gross margin?
United Rentals's gross margin was 35.4% in fiscal 2025: for every $100 of revenue, United Rentals kept $35 after the direct cost of its products and services.
How fast is United Rentals growing?
Revenue grew 13.5% a year on average over the last five fiscal years, from $8.5 billion to $16.1 billion.
What are United Rentals's earnings per share?
United Rentals earned $42.12 per diluted share in fiscal 2025, compared with $43.24 a year earlier.
When will United Rentals report its next earnings?
United Rentals is expected to report results for the quarter ending September 30, 2026 on October 21, 2026 after the market closes.
When does United Rentals's fiscal year end?
United Rentals's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on January 28, 2026.