United Rentals
URI on NYSE. United Rentals rents construction equipment to builders and industrial companies. Market value $67.3bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Industrials stocks on the list
This is not advice. Check the numbers below.
We could not compute this from the filings.
You pay 19.6 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 14 cents a year. Above 10 is good.
Quality score: 92 of 100. Price score: 57 of 100. Our list needs 70 on quality and 60 on price.
$1,080.62 a share, 54% above its 1-year low
Over the past year the price has ranged from $701.59 to $1,179.18.
Dividend: 0.7% a year
Paid every year for 3 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $9.7bn | $11.6bn | $14.3bn | $15.3bn | $16.1bn |
| Operating margin | |||||
| Operating margin | 23.4% | 27.8% | 26.7% | 26.5% | 24.7% |
| Debt to equity | |||||
| Debt to equity | 1.62 | 1.61 | 1.42 | 1.55 | 1.59 |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.07bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive4 of 4 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt1.59× equity
- Revenue growth, five yearsStrong, 13.5% a year
- Buying back its own sharesYes, 10% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $4.4 billion last quarter, up 12% on a year ago.
- Profit: $753 million, up 21% on a year ago.
- It keeps 25 cents of each $1 of sales as operating profit, down from 26 cents a year earlier.
- 4% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $14.1 billion more than cash, up from $12.8 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $4.0bn |
| December 2024 | $4.1bn |
| March 2025 | $3.7bn |
| June 2025 | $3.9bn |
| September 2025 | $4.2bn |
| December 2025 | $4.2bn |
| March 2026 | $4.0bn |
| June 2026 | $4.4bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $708m |
| December 2024 | $689m |
| March 2025 | $518m |
| June 2025 | $622m |
| September 2025 | $701m |
| December 2025 | $653m |
| March 2026 | $531m |
| June 2026 | $753m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 21 October 2026
- Last annual report (10-K)
- 28 January 2026
- Next quarterly (estimated, 10-Q)
- 21 October 2026
Who owns it
13 long-term investors we follow own it, unchanged from 13 last quarter. 1,586 funds in all.
- Boston PartnersBoston Partners team
- Value
- $1.0bn
- Share of fund
- 0.9%
- GAMCO InvestorsMario Gabelli
- Value
- $36m
- Share of fund
- 0.3%
- Markel GroupTom Gayner
- Value
- $35m
- Share of fund
- 0.3%
- Muhlenkamp & Co.Jeff Muhlenkamp
- Value
- $18m
- Share of fund
- 5.1%
- Horizon KineticsMurray Stahl
- Value
- $856,465
- Share of fund
- <0.1%
- Torray Investment PartnersRobert Torray (founder)
- Value
- $747,707
- Share of fund
- 0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $1.0bn | 0.9% | |
| Findlay Park PartnersFindlay Park team | $180m | 2.4% | Cut |
| GAMCO InvestorsMario Gabelli | $36m | 0.3% | |
| Markel GroupTom Gayner | $35m | 0.3% | |
| Gotham Asset ManagementJoel Greenblatt | $30m | <0.1% | Added |
| Wedgewood PartnersDavid Rolfe | $19m | 3.9% | Cut |
| Muhlenkamp & Co.Jeff Muhlenkamp | $18m | 5.1% | |
| GMOJeremy Grantham | $5m | <0.1% | Cut |
| Jensen Investment ManagementEric Schoenstein | $2m | <0.1% | Cut |
| First Manhattan Co.First Manhattan partners | $2m | <0.1% | Added |
| First Eagle Investment ManagementMatthew McLennan | $942,564 | <0.1% | Added |
| Horizon KineticsMurray Stahl | $856,465 | <0.1% | |
| Torray Investment PartnersRobert Torray (founder) | $747,707 | 0.1% |
Largest holders overall
- BlackRock$5.8bn
- Vanguard Capital Management$4.6bn
- State Street$3.4bn
- JPMorgan Chase$3.2bnCut
- Vanguard Portfolio Management$3.1bn
- Capital Research Global Investors$2.2bnCut
- Franklin Resources$2.0bnAdded
- Geode Capital Management$1.9bn
- Capital World Investors$1.9bnCut
- Morgan Stanley$1.7bnCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- Capital Research Global InvestorsPassive investorSold down below 5%Since 30 September 2025
- Capital International InvestorsPassive investorSold down below 5%Since 31 December 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
Capital Research Global Investors Passive investor | Sold down below 5% | 30 September 2025 | |
Capital International Investors Passive investor | Sold down below 5% | 31 December 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $53,268 of shares on the open market. 6 sold $30m.
- Grace William E.EVP, CFOSold
- Date
- 24 July 2026
- Shares
- 1,500
- Price
- $1133.15
- Value
- $2m
- Gross Joli L.SVP, Chief LGL & Sustain. Off.Sold
- Date
- 27 April 2026
- Shares
- 306
- Price
- $954.99
- Value
- $292,227
- PINTOFF CRAIG ADAMEVP, Chief Admin. OfficerSold
- Date
- 27 April 2026
- Shares
- 2,466
- Price
- $963.00
- Value
- $2m
- Limoges Andrew B.VP, ControllerSold
- Date
- 24 April 2026
- Shares
- 548
- Price
- $977.86
- Value
- $535,867
- Flannery Matthew JohnPresident & CEO, DirectorSold
- Date
- 24 April 2026
- Shares
- 22,768
- Price
- $984.98
- Value
- $22m
- Grace William E.EVP, CFOSold
- Date
- 3 February 2026
- Shares
- 1,498
- Price
- $790.89
- Value
- $1m
- Singh ShivDirectorBought
- Date
- 2 February 2026
- Shares
- 68
- Price
- $783.36
- Value
- $53,268
- Durand Michael DEVP, Chief Operating OfficerSold
- Date
- 2 February 2026
- Shares
- 2,490
- Price
- $791.14
- Value
- $2m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 24 July 2026 | Grace William E. EVP, CFO | Sold | 1,500 | $1133.15 | $2m |
| 27 April 2026 | Gross Joli L. SVP, Chief LGL & Sustain. Off. | Sold | 306 | $954.99 | $292,227 |
| 27 April 2026 | PINTOFF CRAIG ADAM EVP, Chief Admin. Officer | Sold | 2,466 | $963.00 | $2m |
| 24 April 2026 | Limoges Andrew B. VP, Controller | Sold | 548 | $977.86 | $535,867 |
| 24 April 2026 | Flannery Matthew John President & CEO, Director | Sold | 22,768 | $984.98 | $22m |
| 3 February 2026 | Grace William E. EVP, CFO | Sold | 1,498 | $790.89 | $1m |
| 2 February 2026 | Singh Shiv Director | Bought | 68 | $783.36 | $53,268 |
| 2 February 2026 | Durand Michael D EVP, Chief Operating Officer | Sold | 2,490 | $791.14 | $2m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.