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URI · NYSE

United Rentals

Rental & Leasing Services · United States

USD 1.15K4.2% daily changeQuote 2026-11-11 · USD
Market cap (USD)
US$71.25B
Trailing P/E
25.33x
Forward P/E
18.73x
Quarterly revenue growth
15.7%
Trailing net margin
16.3%
Indicated dividend yield
0.7%

Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.

Next earnings: 2027-01-27 (provider estimate; issuer confirmation unavailable here).

Company background

United Rentals, Inc., through its subsidiaries, operates as an equipment rental company in the United States, Canada, Europe, Australia, and New Zealand. It operates through two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, including boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. The specialty segment rents trench safety equipment consists of trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers, and line testing equipment for underground work; power and heating, ventilating, and air conditioning equipment, such as portable diesel generators, electrical distribution equipment, and temperature control equipment; fluid solutions equipment for fluid containment, transfer, and treatment; surface protection mats; and mobile storage equipment and modular office space. This segment serves construction companies involved in infrastructure projects, and municipalities and industrial companies. The company also sells aerial lifts, reach forklifts, telehandlers, compressors, and generators; construction consumables, tools, small equipment, and safety supplies; and parts for equipment that is owned by its customers, as well as provides repair and maintenance services. It sells used equipment through its sales force, brokers, website, at auctions, and directly to manufacturers. United Rentals, Inc. was incorporated in 1997 and is headquartered in Stamford, Connecticut.

Company website

Q3 2026

Go beyond the headline.

URI Stock: Bigger Profit. Where Is the Extra Cash? | Q3 2026

Published 2026-10-26

Q3 2026 REPORT HIGHLIGHTS

What’s changed for URI

United Rentals raises revenue and profit guidance while free-cash-flow guidance stays flat; fleet productivity, investment timing and valuation decide what owners receive.

  1. Productivity improved with the fleet.

    Rental revenue rose 17.8%, including a 6.5% fleet-productivity contribution. That measure combines rates, utilization and mix; it is not a pure pricing claim.

  2. Specialty is doing more of the work.

    Quarterly Specialty rental revenue reached $1.704B and rental gross profit $811M, while General Rentals also expanded its margin.

  3. The cash outlook did not rise with profit.

    Management raised revenue and adjusted EBITDA guidance, alongside equipment investment. Free cash flow excluding restructuring remains $2.15–2.45B.

  4. Returns need the full funding picture.

    Nine-month issuer FCF of $1.421B compares with $1.496B of program repurchases and dividends; acquisitions and financing sit outside that simple comparison.

  5. A premium price needs durable conversion.

    Our $980 anchor balances earnings, enterprise value and equity cash yield. We require sustained productivity and cash delivery before paying more.

Comparable businesses

URI peer comparison

Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.

Comparison stocks

Market metrics · missing or inapplicable values shown as —
MetricURIUnited Rentals, Inc.Snapshot 2026-11-11Financial period: 2026-09-30SUNBSunbelt Rentals Holdings, Inc.Snapshot 2026-11-11Financial period: 2026-07-31RRyder System, Inc.Snapshot 2026-11-11Financial period: 2026-09-30
Market capMarket value, converted to USDUS$71.25BUS$34.14BUS$10.79B
Forward P/EProvider forward earnings estimate18.73x17.21x15.57x
EV / EBITDAEnterprise value / trailing EBITDA16.69x15.43x6.67x
Revenue growthLatest quarter vs prior-year quarter15.7%11.2%8.3%
Operating marginLatest reported quarter26.3%21.3%8.0%
Free cash flow yieldTrailing cash flow / market cap3.0%5.1%14.2%
Net debt / EBITDANet debt / trailing EBITDA3.12x3.93x2.84x
Debt / equityTotal debt / positive book equity1.64x1.53x2.75x
Trailing P/ETrailing twelve-month earnings25.33x25.17x21.50x
Price / bookPrice / positive book equity per share7.36x4.59x3.62x
EV / salesEnterprise value / trailing revenue4.81x3.90x1.43x
Earnings growthLatest quarter vs prior-year quarter35.4%22.8%25.5%
Gross marginTrailing twelve months39.2%38.8%19.6%
Net marginTrailing twelve months16.3%12.1%4.0%
Return on equityProvider trailing return; positive equity only30.6%18.4%17.2%
Free cash flow marginTrailing free cash flow / revenue12.1%15.1%11.7%
Dividend yieldIndicated annual dividend / price0.7%1.3%1.4%
Earnings payoutProvider trailing dividend payout17.0%22.6%28.5%
Current ratioCurrent assets / current liabilities0.80x0.94x0.67x
BetaProvider historical market sensitivity1.811.641.03

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Comparison methodology & limitations

Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.

Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.

Reported performance

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Market context

Valuation & price history

Adjusted closing price

Price history

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Earnings-multiple scenario

Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.

Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.

THE RESEARCH RECORD

Research history for URI

All available reporting periods
Q3 20262026-10-26
Q2 20262026-07-24
Q1 20262026-04-24
Deep Dive2026-04-23

Reported figures

Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.