United Rentals, Inc. (URI) Key Metrics
URI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $64.09B
- Enterprise value
- $79.51B
- P/E (TTM)
- 24.8 10-yr median 16.3
- Forward P/E
- 18.5
- PEG ratio
- 1.34
- Price / sales
- 3.8 10-yr median 2.2
- Price / book
- 7.0 10-yr median 4.4
- EV / EBITDA
- 10.7 10-yr median 7.5
- Dividend yield
- 0.77% $7.88 a year
- Beta
- 1.83
URI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsURI valuation Price multiples at each fiscal year-end price.
URI returns How much profit the business earns on the capital it uses.
URI per-share figures Results divided by the shares outstanding at year-end.
URI financial health Debt, liquidity and how easily interest is covered.
URI efficiency & capital use Working capital cycle and where the cash goes.
URI valuation history
URI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
URI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
URI cash returned to shareholders
URI price vs earnings per share
URI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $52.28B | $46.89B | $39.40B | $25.23B | $24.20B | $16.91B | $12.96B | $8.56B | $14.72B | $9.27B |
| Enterprise value | $68.30B | $61.22B | $51.70B | $37.34B | $34.56B | $27.12B | $25.05B | $20.27B | $23.80B | $16.75B |
| P/E ratio | 21.0 | 18.2 | 16.3 | 12.0 | 17.5 | 19.0 | 11.0 | 7.8 | 10.9 | 16.4 |
| Price / sales | 3.2 | 3.1 | 2.7 | 2.2 | 2.5 | 2.0 | 1.4 | 1.1 | 2.2 | 1.6 |
| Price / book | 5.8 | 5.4 | 4.8 | 3.6 | 4.0 | 3.7 | 3.4 | 2.5 | 4.7 | 5.6 |
| Price / free cash flow | 79.0 | 111.9 | 62.1 | 34.0 | 49.3 | 11.3 | 19.2 | 15.2 | 43.2 | 15.1 |
| Price / operating cash flow | 10.1 | 10.3 | 8.4 | 5.7 | 6.6 | 6.4 | 4.3 | 3.0 | 6.6 | 4.7 |
| EV / sales | 4.2 | 4.0 | 3.6 | 3.2 | 3.6 | 3.2 | 2.7 | 2.5 | 3.6 | 2.9 |
| EV / EBITDA | 9.5 | 8.8 | 7.8 | 6.8 | 8.1 | 7.1 | 6.0 | 5.6 | 8.4 | 6.5 |
| EV / free cash flow | 103.2 | 146.1 | 81.5 | 50.3 | 70.4 | 18.1 | 37.2 | 36.1 | 69.8 | 27.3 |
| Earnings yield | 4.8% | 5.5% | 6.2% | 8.3% | 5.7% | 5.3% | 9.1% | 12.8% | 9.1% | 6.1% |
| Free cash flow yield | 1.3% | 0.9% | 1.6% | 2.9% | 2.0% | 8.9% | 5.2% | 6.6% | 2.3% | 6.6% |
| Dividend yield | 0.9% | 0.9% | 1.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 4.7% | 4.3% | 3.7% | 4.2% | 0.1% | 1.7% | 6.8% | 9.5% | 0.4% | 5.7% |
| Share price at fiscal year-end | $809.32 | $704.44 | $573.42 | $355.42 | $332.29 | $231.91 | $166.77 | $102.53 | $171.91 | $105.58 |
| Per share | ||||||||||
| Revenue per share | $249.21 | $230.52 | $208.59 | $164.03 | $133.43 | $116.96 | $120.33 | $96.37 | $77.58 | $65.63 |
| Earnings per share | $38.61 | $38.68 | $35.28 | $29.66 | $19.03 | $12.20 | $15.11 | $13.13 | $15.72 | $6.45 |
| Operating cash flow per share | $80.34 | $68.29 | $68.46 | $62.46 | $50.66 | $36.45 | $38.91 | $34.17 | $26.05 | $22.24 |
| Free cash flow per share | $10.25 | $6.29 | $9.23 | $10.47 | $6.74 | $20.57 | $8.67 | $6.73 | $3.98 | $6.99 |
| Cash per share | $7.11 | $6.87 | $5.28 | $1.49 | $1.98 | $2.77 | $0.67 | $0.51 | $4.11 | $3.55 |
| Book value per share | $138.82 | $129.52 | $118.32 | $99.50 | $82.27 | $62.32 | $49.29 | $40.75 | $36.29 | $18.77 |
| Tangible book value per share | $21.24 | $15.91 | $22.12 | $8.23 | −$2.09 | −$17.43 | −$28.55 | −$32.80 | −$21.62 | −$26.81 |
| Dividends per share | $7.18 | $6.52 | $5.91 | $0.00 | $0.00 | $0.01 | $0.14 | — | $0.00 | $0.00 |
| Capex per share | $70.09 | $62.00 | $59.23 | $51.99 | $43.92 | $15.88 | $30.24 | $27.44 | $22.07 | $15.25 |
| Debt per share | $255.06 | $222.17 | $184.28 | $172.22 | $144.31 | $142.73 | $156.21 | $140.68 | $110.28 | $88.72 |
| Shares outstanding | 64.6M | 66.6M | 68.7M | 71.0M | 72.8M | 72.9M | 77.7M | 83.5M | 85.6M | 87.8M |
| Change in shares outstanding | −3.0% | −3.1% | −3.2% | −2.5% | −0.2% | −6.2% | −6.9% | −2.5% | −2.5% | −8.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 28.4% | 30.7% | 31.9% | 32.3% | 26.3% | 21.3% | 32.5% | 33.7% | 56.6% | 36.2% |
| Return on invested capital (ROIC) | 12.4% | 14.3% | 14.7% | 13.7% | 11.1% | 9.4% | 10.9% | 11.0% | 15.2% | 9.8% |
| Return on assets (ROA) | 8.6% | 9.6% | 9.7% | 9.5% | 7.3% | 4.8% | 6.3% | 6.6% | 10.0% | 4.7% |
| Return on tangible assets | 11.2% | 12.5% | 12.8% | 11.9% | 9.8% | 7.4% | 9.1% | 9.1% | 13.4% | 7.1% |
| Free cash flow margin | 4.1% | 2.7% | 4.4% | 6.4% | 5.1% | 17.6% | 7.2% | 7.0% | 5.1% | 10.7% |
| Income quality (OCF / net income) | 2.08 | 1.77 | 1.94 | 2.11 | 2.66 | 2.99 | 2.58 | 2.60 | 1.66 | 3.45 |
| Financial health | ||||||||||
| Total debt | $16.48B | $14.79B | $12.66B | $12.22B | $10.51B | $10.41B | $12.14B | $11.75B | $9.44B | $7.79B |
| Cash & short-term investments | $459.0M | $457.0M | $363.0M | $106.0M | $144.0M | $202.0M | $52.0M | $43.0M | $352.0M | $312.0M |
| Net debt | $16.02B | $14.33B | $12.30B | $12.12B | $10.36B | $10.21B | $12.09B | $11.70B | $9.09B | $7.48B |
| Debt / equity | 1.84 | 1.72 | 1.56 | 1.73 | 1.75 | 2.29 | 3.17 | 3.45 | 3.04 | 4.73 |
| Debt / assets | 0.55 | 0.53 | 0.49 | 0.51 | 0.52 | 0.58 | 0.64 | 0.65 | 0.63 | 0.65 |
| Net debt / EBITDA | 2.24 | 2.05 | 1.86 | 2.22 | 2.44 | 2.69 | 2.88 | 3.23 | 3.20 | 2.91 |
| Current ratio | 0.94 | 0.98 | 0.81 | 1.11 | 0.83 | 1.07 | 0.84 | 0.83 | 1.06 | 1.15 |
| Quick ratio | 0.88 | 0.92 | 0.75 | 1.02 | 0.76 | 1.00 | 0.78 | 0.78 | 1.02 | 1.09 |
| Interest coverage | 5.6 | 5.9 | 6.1 | 7.3 | 5.4 | 2.8 | 3.4 | 4.2 | 3.5 | 2.9 |
| Working capital | −$211.0M | −$74.0M | −$704.0M | $278.0M | −$452.0M | $127.0M | −$356.0M | −$355.0M | $104.0M | $177.0M |
| Invested capital | $24.99B | $22.95B | $20.43B | $19.18B | $16.36B | $14.75B | $15.92B | $15.11B | $12.19B | $9.13B |
| Tangible asset value | $1.37B | $1.06B | $1.52B | $584.0M | −$152.0M | −$1.27B | −$2.22B | −$2.74B | −$1.85B | −$2.35B |
| Net current asset value | −$17.29B | −$16.29B | −$14.53B | −$14.40B | −$12.15B | −$11.31B | −$13.30B | −$12.97B | −$10.15B | −$8.98B |
| Graham number | $347.26 | $335.76 | $306.47 | $257.68 | $187.71 | $130.81 | $129.43 | $109.71 | $113.30 | $52.18 |
| Graham net-net per share | −$285.39 | −$258.03 | −$222.93 | −$216.93 | −$175.99 | −$165.49 | −$178.13 | −$161.36 | −$123.95 | −$105.97 |
| Capital allocation | ||||||||||
| Dividends paid | $464.0M | $434.0M | $406.0M | $0 | $0 | $1.0M | $11.0M | — | $0 | $0 |
| Share buybacks (net) | $1.97B | $1.57B | $1.07B | $1.07B | $34.0M | $286.0M | $870.0M | $817.0M | $56.0M | $528.0M |
| Dividend payout ratio | 18.6% | 16.9% | 16.7% | 0.0% | 0.0% | 0.1% | 0.9% | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | 367.5% | 478.5% | 232.8% | 143.7% | 6.9% | 19.1% | 130.7% | 145.4% | 16.4% | 86.0% |
| Capex / revenue | 28.1% | 26.9% | 28.4% | 31.7% | 32.9% | 13.6% | 25.1% | 28.5% | 28.4% | 23.2% |
| Capex / operating cash flow | 87.2% | 90.8% | 86.5% | 83.2% | 86.7% | 43.6% | 77.7% | 80.3% | 84.7% | 68.6% |
| Capex / depreciation | 1.46 | 1.42 | 1.46 | 1.66 | 1.61 | 0.58 | 1.15 | 1.37 | 1.37 | 1.08 |
| Stock-based compensation / revenue | 0.8% | 0.7% | 0.7% | 1.1% | 1.2% | 0.8% | 0.7% | 1.3% | 1.3% | 0.8% |
| SG&A / revenue | 10.8% | 10.7% | 10.5% | 12.0% | 12.3% | 11.5% | 11.7% | 12.9% | 13.6% | 12.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 55.8 | 55.2 | 54.0 | 57.8 | 56.3 | 62.0 | 61.0 | 63.0 | 59.2 | 58.6 |
| Days of inventory on hand | 7.7 | 7.7 | 8.9 | 10.3 | 8.5 | 7.8 | 6.9 | 6.7 | 6.3 | 7.0 |
| Days payables outstanding | 26.8 | 31.3 | 41.7 | 50.9 | 37.6 | 29.5 | 29.7 | 34.6 | 28.9 | 26.2 |
| Cash conversion cycle (days) | 36.7 | 31.6 | 21.2 | 17.2 | 27.2 | 40.4 | 38.2 | 35.2 | 36.6 | 39.4 |
| Receivables turnover | 6.54 | 6.61 | 6.76 | 6.32 | 6.48 | 5.88 | 5.98 | 5.79 | 6.17 | 6.23 |
| Payables turnover | 13.64 | 11.65 | 8.76 | 7.17 | 9.71 | 12.39 | 12.30 | 10.56 | 12.62 | 13.95 |
| Inventory turnover | 47.24 | 47.57 | 40.96 | 35.40 | 43.05 | 46.51 | 53.17 | 54.25 | 57.52 | 52.34 |
| Asset turnover | 0.55 | 0.57 | 0.58 | 0.52 | 0.51 | 0.46 | 0.50 | 0.49 | 0.49 | 0.48 |
| Average receivables | $2.46B | $2.32B | $2.12B | $1.84B | $1.50B | $1.45B | $1.56B | $1.39B | $1.08B | $925.0M |
| Average payables | $762.0M | $826.5M | $1.02B | $977.5M | $641.0M | $460.0M | $495.0M | $472.5M | $326.0M | $257.0M |
| Average inventory | $220.0M | $202.5M | $218.5M | $198.0M | $144.5M | $122.5M | $114.5M | $92.0M | $71.5M | $68.5M |
| Intangibles / total assets | 25.4% | 26.9% | 25.8% | 26.8% | 30.3% | 32.5% | 31.9% | 33.9% | 33.0% | 33.4% |
Computed from URI's annual financial statements (latest annual report filed January 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
URI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), United Rentals traded at 21.0 times earnings, against a 10-year median of 16.3. Based on the latest twelve months, the trailing P/E is 24.8 and the forward P/E is 18.5. United Rentals earned a return on equity of 28.4% and a return on invested capital of 12.4% in fiscal 2025. It ended the year with $16.5 billion of debt and $459.0 million in cash and short-term investments, net debt of $16.0 billion. It returned $2.4 billion to shareholders: $464.0 million in dividends and $2.0 billion in share buybacks, 368% of free cash flow. The share count fell 26.4% from 87.8M to 64.6M over 9 years.
See the URI income statement, the URI chart for price history, or the URI stock overview for the latest quote and news.
URI key metrics FAQ
What is United Rentals's P/E ratio?
United Rentals's trailing P/E ratio is 24.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.5. At the end of fiscal 2025 it was 21.0, compared with a 10-year median of 16.3.
What is United Rentals's EV/EBITDA?
United Rentals's enterprise value was 9.5 times EBITDA at the end of fiscal 2025 (enterprise value $68.3 billion, EBITDA $7.2 billion); the current EV/EBITDA is 10.7.
What is United Rentals's return on equity?
United Rentals's return on equity (ROE) was 28.4% in fiscal 2025: net income of $2.5 billion on average shareholders' equity of $8.8 billion.
What is United Rentals's ROIC?
United Rentals's return on invested capital was 12.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does United Rentals have?
United Rentals had total debt of $16.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.84 and $16.0 billion of net debt (2.24 times EBITDA).
What is United Rentals's dividend yield?
United Rentals's forward dividend yield is 0.77%. United Rentals paid $464.0 million in dividends in fiscal 2025 ($7.18 per share), a payout ratio of 18.6%.
Does United Rentals buy back its shares?
Yes. United Rentals spent $2.0 billion on net share repurchases in fiscal 2025 Shares outstanding changed −3.0% over the year, to 64.6M..
What is United Rentals's free cash flow yield?
United Rentals generated $662.0 million of free cash flow in fiscal 2025, a free cash flow yield of 1.3% on its market value at year-end ($52.3 billion).
What is United Rentals's current ratio?
United Rentals's current ratio was 0.94 at the end of fiscal 2025: current assets were 0.94 times current liabilities.