URI
United Rentals, Inc.
URI's fundamentals are strong, but it looks expensive: trading at 25x earnings, above its usual 18x. Analysts expect strong earnings growth.
URI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Stable |
URI's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
URI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $540 | -53% |
| Fair | 18x | $824 | -28% |
| Forward | 19x | $1,139 | — |
| Expensive | 24x | $1,100 | -3.5% |
| Current | 25x | $1,139 | — |
Historical ranges are pointers, not guarantees.
URI's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its fair range.
URI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for URI, with profitability improving.
URI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $59.66 | +31% |
| Q3 2026 | $45.50 | +17% |
| Q2 2026 | $41.64 | +7.7% |
| Q1 2026 | $39.20 | +1.5% |
| Q4 2025 | $38.68 | -0.2% |
| Q3 2025 | $38.88 | +1.5% |
| Q2 2025 | $38.67 | +2.1% |
| Q1 2025 | $38.62 | +4.6% |
| Q4 2024 | $38.75 | +9.6% |
URI earned $45.50 per share over the past year, up 17% from the year before.
URI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.9B | +16% |
| Q2 2026 | $4.4B | +12% |
| Q1 2026 | $4B | +7.2% |
| Q4 2025 | $4.2B | +2.8% |
| Q3 2025 | $4.2B | +5.9% |
| Q2 2025 | $3.9B | +4.5% |
| Q1 2025 | $3.7B | +6.7% |
| Q4 2024 | $4.1B | +9.8% |
URI's revenue has grown year over year for 22 quarters in a row: $4.9B last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +2.5 points |
| Q2 2026 | 26% | +0.4 points |
| Q1 2026 | 22% | +0.2 points |
| Q4 2025 | 25% | -1.5 points |
| Q3 2025 | 26% | -1.8 points |
| Q2 2025 | 25% | -1.2 points |
| Q1 2025 | 22% | -2.8 points |
| Q4 2024 | 27% | -2 points |
URI's operating margin was 29% last quarter, up 2.5 points from the same quarter a year ago.
URI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.6B | +38% |
| Q2 2026 | $1.8B | +35% |
| Q1 2026 | $1.5B | +6.2% |
| Q4 2025 | $1.3B | +167% |
| Q3 2025 | $1.2B | +$1.3B |
| Q2 2025 | $1.3B | +$1.6B |
| Q1 2025 | $1.4B | +279% |
| Q4 2024 | $471M | -47% |
URI generated $6.2B in free cash flow over the past year, up 41% from the year before.
URI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -367K shares |
| 1 year | -3.1% | -2M shares |
| 3 years | -8.8% | -6M shares |
| 5 years | -14% | -10.4M shares |
| Available history | -20% | -15.4M shares |
URI has 62M diluted shares, down 3.1% from a year ago, with $1.8B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $375M |
| Q2 2026 | $395M |
| Q1 2026 | $421M |
| Q4 2025 | $631M |
| Q3 2025 | $618M |
| Q2 2025 | $431M |
| Q1 2025 | $289M |
| Q4 2024 | $403M |
URI spent $1.8B buying back its own shares over the past year, up 4.7% from the year before.
URI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Moderate |
| Q2 2026 | 3.1x | Elevated |
| Q1 2026 | 3.1x | Elevated |
| Q4 2025 | 3.1x | Elevated |
| Q3 2025 | 3.1x | Elevated |
| Q2 2025 | 2.9x | Moderate |
| Q1 2025 | 2.8x | Moderate |
| Q4 2024 | 2.9x | Moderate |
URI's net debt is about 3.0 years of its operating earnings (EBITDA), about the same as a year ago.
URI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.3 | Neutral |
| Stochastic | 65.7 | Neutral |
URI's weekly RSI is 57 (neutral) and its Stochastic is 66 (neutral).
URI PE vs Industrials Sector
| Metric | URI | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 4.2% above |
| PE % | 88 | 58 | 30 pts above |
URI is trading at 25x earnings, in line with the Industrials sector's median of 24x.
URI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,084.7 | 5% above |
| 20 week MA | $1,079.8 | 5.5% above |
| 50 week MA | $963.3 | 18% above |
| 100 week MA | $869.0 | 31% above |
| 200 week MA | $720.5 | 58% above |
URI is in an uptrend: it's above all five of its weekly moving averages, and 58% above its 200-week average.
URI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $168.5 | $232.6 | +38% |
| 2021 | $232.6 | $331.7 | +43% |
| 2022 | $331.7 | $355.2 | +7.1% |
| 2023 | $355.2 | $573.4 | +61% |
| 2024 | $573.4 | $716.5 | +25% |
| 2025 | $716.5 | $827.9 | +16% |
| 2026 YTD | $827.9 | $1,139.1 | +38% |
URI has finished every year since 2020 higher, and it's up 38% so far in 2026.