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World's largest equipment rental company, renting construction, industrial and specialty equipment to businesses.
World's largest equipment rental company, renting construction, industrial and specialty equipment to businesses.
Earns rental fees per day, week or month on a fleet it buys and later sells used, so profit depends on how much of the fleet is out on rent and at what rate. Contractors rent to avoid owning idle machines. It grew by acquisition, including General Finance in 2021 and Ahern Rentals in 2022.
Moat: narrow (scale, distribution, installed base). Large branch/fleet network and purchasing scale beat smaller regional renters on availability and cost.
Headquarters: Stamford, Connecticut, US · Founded: 1997 · Employees: 28,500
Size United Rentals (URI) is a United States Industrials company (Finance/Rental/Leasing) with a market value of $65.4B, the 202nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $1,056 on 6 Nov 2026.
Performance Over six months the shares gained 12.9%, against -1.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 9.4% over the last twelve months (peer median +9.1%); the operating margin is 26.0% (peer median 18.0%).
Valuation It trades at 6.75× book value against a peer median of 6.15× (9th most expensive of 18).
Price implies The share price implies a return on equity of about 77.1%; United Rentals delivers 30.6%, so the price asks more than the business earns today.
Credit United Rentals has 13 bonds outstanding ($13.9B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 114 bp.
Short interest Short interest is 2.3% of the free float (15 Oct 2026).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.5B | $16.1B | $15.3B | $14.3B | $11.6B |
| Revenue growth | — | +5% | +7% | +23% | — |
| Gross profit | $6.39B | $5.71B | $5.71B | $5.38B | $4.63B |
| EBITDA | $7.82B | $7.09B | $6.97B | $6.64B | $5.45B |
| Net income | $2.86B | $2.49B | $2.58B | $2.42B | $2.10B |
| Free cash flow | $892M | $662M | $419M | $634M | $743M |
| Capital expenditure | $5.30B | $4.53B | $4.13B | $4.07B | $3.69B |
| Total debt | $15.9B | $15.7B | $14.8B | $12.7B | $12.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| United Rentals URI | $65.4B | +13% | +9% | 31% | 6.75× | 77.1% |
| Sunbelt Rentals SUNB | $31.6B | +5% | +3% | 17% | 4.24× | 35.0% |
| Herc HRI | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% |
| Custom Truck One Source CTOS | $2.12B | -4% | +6% | 4% | 2.58× | 26.7% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | URI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.5% | +0.1% | 11th highest of 21 |
| 6-month return | +12.9% | -1.5% | 5th highest of 20 |
| Return on equity | 30.6% | 24.1% | 9th highest of 19 |
| Price / book | 6.75× | 6.15× | 9th most expensive of 18 |
| Trailing P/E | 23.2× | 28.6× | 7th cheapest of 21 |
| ROE the price implies | 77.1% | 42.2% | 8th most demanding of 18 |
| ROE delivered | 30.6% | 26.1% | 9th highest of 18 |
| Net debt / EBITDA | 2.0× | 1.7× | 8th most indebted of 21 |
| Bond spread | 114 bp | 73 bp | 2nd widest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| United Rentals URI | United States | $65.4B | +13% | +9% | 31% | 6.75× | 77.1% | 30.6% |
| TransDigm TDG | United States | $66.2B | -1% | +17% | n/a | n/a | n/a | n/a |
| W. W. Grainger GWW | United States | $67.9B | +17% | +9% | 52% | 18.29× | 123.9% | 52.1% |
| Cummins CMI | United States | $62.0B | -34% | +3% | 22% | 4.82× | 42.2% | 22.0% |
| Honeywell Technologies HON | United States | $69.8B | -1% | -17% | 39% | 3.12× | 21.6% | 38.7% |
| Fastenal FAST | United States | $60.8B | +20% | +14% | 35% | 14.65× | 78.3% | 35.3% |
| Vertiv VRT | United States | $70.4B | -46% | +35% | 47% | 12.80× | 161.9% | 46.6% |
| Norfolk Southern NSC | United States | $71.9B | +3% | +6% | 17% | 4.30× | 36.5% | 16.8% |
| FedEx FDX | United States | $72.2B | +1% | +8% | 15% | 2.09× | 20.3% | n/a |
| Delta Air Lines DAL | United States | $57.4B | +19% | +14% | 16% | 2.55× | 26.0% | 15.9% |
| Northrop Grumman NOC | United States | $74.6B | -4% | +7% | 26% | 3.99× | 16.4% | 26.1% |
| Republic Services RSG | United States | $75.2B | +24% | +4% | 18% | 6.15× | 24.5% | 18.5% |
| Paccar PCAR | United States | $53.7B | -11% | -1% | 14% | 2.57× | 20.2% | 13.7% |
| Illinois Tool Works ITW | United States | $79.8B | +11% | +5% | 102% | 25.42× | 169.6% | 101.7% |
| Ametek AME | United States | $52.4B | -1% | +14% | 15% | 4.48× | 33.0% | 14.7% |
| Quanta Services PWR | United States | $81.5B | -27% | +37% | 18% | 7.73× | 67.5% | 17.8% |
| Johnson Controls JCI | United States | $81.8B | -3% | +9% | 22% | n/a | n/a | 21.7% |
| Howmet Aerospace HWM | United States | $81.8B | -24% | +22% | 38% | 14.22× | 122.2% | 37.7% |
| Bloom Energy BE | United States | $51.2B | -21% | +111% | 40% | 26.49× | 449.6% | 40.1% |
| Trane Technologies TT | United States | $87.9B | -14% | +10% | 37% | 9.66× | 78.5% | 36.7% |
| Honeywell Aerospace HONA | United States | $48.5B | n/a | n/a | n/a | n/a | n/a | n/a |
United Rentals has 13 bonds outstanding with $13.9B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.66%, a spread of 114 bp over government bonds.