United Rentals Inc. (URI) financial statements: income statement, balance sheet and cash flow
United Rentals Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), United Rentals Inc. reported revenue of $16.1B (+4.9% year on year) and net income of $2.5B (-3.1% year on year).
Income statement
United Rentals Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenues
$16.1B
$15.3B
$14.3B
$11.6B
Cost of equipment rentals, excluding depreciation
$5.9B
$5.4B
$4.9B
$4.0B
Depreciation of rental equipment
$2.7B
$2.5B
$2.4B
$1.9B
Cost of goods and services sold
$1.4B
$1.4B
$1.3B
$775.0M
Total cost of revenues
$10.0B
$9.2B
$8.5B
$6.6B
Gross profit
$6.1B
$6.2B
$5.8B
$5.0B
Selling, general and administrative expenses
$1.7B
$1.6B
$1.5B
$1.4B
Restructuring charge
$1.0M
$3.0M
$28.0M
$0
Non-rental depreciation and amortization
$438.0M
$437.0M
$431.0M
$364.0M
Operating income
$4.0B
$4.1B
$3.8B
$3.2B
Interest expense, net
$716.0M
$691.0M
$635.0M
$445.0M
Other income, net
($81.0M)
($14.0M)
($19.0M)
($15.0M)
Income before provision for income taxes
$3.3B
$3.4B
$3.2B
$2.8B
Provision for income taxes
$844.0M
$813.0M
$787.0M
$697.0M
Net income
$2.5B
$2.6B
$2.4B
$2.1B
Basic earnings per share (in dollars per share)
$38.71
$38.82
$35.40
$29.77
Diluted earnings per share (in dollars per share)
$38.61
$38.69
$35.28
$29.65
United Rentals Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Total revenues
$4.9B
$4.4B
$4.0B
$4.2B
Cost of equipment rentals, excluding depreciation
$1.8B
$1.6B
$1.5B
$1.5B
Depreciation of rental equipment
$742.0M
$704.0M
$681.0M
$684.0M
Cost of goods and services sold
$345.0M
$330.0M
$343.0M
$350.0M
Total cost of revenues
$2.8B
$2.7B
$2.5B
$2.6B
Gross profit
$2.0B
$1.7B
$1.5B
$1.7B
Selling, general and administrative expenses
$511.0M
$472.0M
$441.0M
$442.0M
Restructuring charge
$15.0M
$6.0M
$45.0M
$0
Non-rental depreciation and amortization
$111.0M
$116.0M
$114.0M
$109.0M
Operating income
$1.4B
$1.1B
$869.0M
$1.1B
Interest expense, net
$184.0M
$178.0M
$176.0M
$178.0M
Other income, net
($6.0M)
($47.0M)
($8.0M)
($1.0M)
Income before provision for income taxes
$1.2B
$1.0B
$701.0M
$937.0M
Provision for income taxes
$311.0M
$254.0M
$170.0M
$236.0M
Net income
$920.0M
$753.0M
$531.0M
$701.0M
Basic earnings per share (in dollars per share)
$14.79
$12.04
$8.44
$10.93
Diluted earnings per share (in dollars per share)
$14.77
$12.03
$8.43
$10.91
Balance sheet
United Rentals Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$459.0M
$457.0M
$363.0M
$106.0M
Accounts receivable, net
$2.5B
$2.4B
$2.2B
$2.0B
Inventory
$240.0M
$200.0M
$205.0M
$232.0M
Prepaid expenses and other assets
$399.0M
$235.0M
$135.0M
$381.0M
Total current assets
$3.6B
$3.2B
$2.9B
$2.7B
Equipment
$17.2B
$16.0B
$14.9B
$14.1B
Goodwill
$7.1B
$6.9B
$5.9B
$6.0B
Other intangible assets, net
$477.0M
$663.0M
$670.0M
$452.0M
Operating lease right-of-use assets
$1.4B
$1.3B
$1.1B
$819.0M
Other long-term assets
$64.0M
$49.0M
$43.0M
$47.0M
Total assets
$29.9B
$28.2B
$25.6B
$24.2B
Short-term debt and current maturities of long-term debt
$1.6B
$1.2B
$1.5B
$161.0M
Accounts payable
$776.0M
$748.0M
$905.0M
$1.1B
Accrued expenses and other liabilities
$1.5B
$1.4B
$1.3B
$1.1B
Total current liabilities
$3.8B
$3.3B
$3.6B
$2.4B
Long-term debt
$12.7B
$12.2B
$10.1B
$11.2B
Deferred taxes
$3.1B
$2.7B
$2.7B
$2.7B
Operating lease liabilities
$1.1B
$1.1B
$895.0M
$642.0M
Other long-term liabilities
$188.0M
$216.0M
$173.0M
$154.0M
Total liabilities
$20.9B
$19.5B
$17.5B
$17.1B
Common stock—$0.01 par value, 500,000,000 shares authorized, 115,354,590 and 63,095,970 shares issued and outstanding, respectively, at December 31, 2025 and 115,179,350 and 65,305,731 shares issued and outstanding, respectively, at December 31, 2024
1.0M
1.0M
1.0M
1.0M
Additional paid-in capital
$2.8B
$2.7B
$2.6B
$2.6B
Retained earnings
$15.8B
$13.8B
$11.7B
$9.7B
Treasury stock at cost—52,258,620 and 49,873,619 shares at December 31, 2025 and December 31, 2024, respectively
-9.4B
-7.5B
-6.0B
-5.0B
Accumulated other comprehensive loss
($249.0M)
($405.0M)
($228.0M)
($264.0M)
Total stockholders’ equity
$9.0B
$8.6B
$8.1B
$7.1B
Total liabilities and stockholders’ equity
$29.9B
$28.2B
$25.6B
$24.2B
United Rentals Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$153.0M
$112.0M
$156.0M
$512.0M
Accounts receivable, net
$3.1B
$2.8B
$2.6B
$2.6B
Inventory
$313.0M
$294.0M
$256.0M
$234.0M
Prepaid expenses and other assets
$423.0M
$390.0M
$338.0M
$458.0M
Total current assets
$4.0B
$3.6B
$3.3B
$3.8B
Equipment
$19.5B
$18.5B
$17.3B
$17.5B
Goodwill
$7.3B
$7.2B
$7.3B
$6.9B
Other intangible assets, net
$507.0M
$561.0M
$547.0M
$531.0M
Operating lease right-of-use assets
$1.5B
$1.4B
$1.4B
$1.3B
Other long-term assets
$61.0M
$63.0M
$66.0M
$61.0M
Total assets
$32.8B
$31.3B
$29.9B
$30.1B
Short-term debt and current maturities of long-term debt
$1.6B
$1.5B
$1.6B
$1.5B
Accounts payable
$1.7B
$1.6B
$1.1B
$1.3B
Accrued expenses and other liabilities
$1.7B
$1.6B
$1.4B
$1.4B
Total current liabilities
$5.0B
$4.7B
$4.1B
$4.2B
Long-term debt
$13.1B
$12.7B
$12.3B
$12.6B
Deferred taxes
$3.6B
$3.3B
$3.2B
$3.0B
Operating lease liabilities
$1.2B
$1.2B
$1.1B
$1.1B
Other long-term liabilities
$230.0M
$210.0M
$198.0M
$219.0M
Total liabilities
$23.1B
$22.1B
$20.9B
$21.1B
Common stock—$0.01 par value, 500,000,000 shares authorized, 115,445,488 and 61,990,795 shares issued and outstanding, respectively, at September 30, 2026 and 115,354,590 and 63,095,970 shares issued and outstanding, respectively, at December 31, 2025
1.0M
1.0M
1.0M
1.0M
Additional paid-in capital
$2.8B
$2.8B
$2.8B
$2.8B
Retained earnings
$17.7B
$16.9B
$16.3B
$15.3B
Treasury stock at cost—53,454,693 and 52,258,620 shares at September 30, 2026 and December 31, 2025, respectively
-10.5B
-10.2B
-9.8B
-8.8B
Accumulated other comprehensive loss
($297.0M)
($307.0M)
($272.0M)
($283.0M)
Total stockholders’ equity
$9.7B
$9.2B
$9.0B
$9.0B
Total liabilities and stockholders’ equity
$32.8B
$31.3B
$29.9B
$30.1B
Cash flow statement
United Rentals Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$2.5B
$2.6B
$2.4B
$2.1B
Depreciation and amortization
$3.1B
$2.9B
$2.8B
$2.2B
Amortization of deferred financing costs and original issue discounts
$15.0M
$15.0M
$14.0M
$13.0M
Gain on sales of rental equipment
($635.0M)
($710.0M)
($786.0M)
($566.0M)
Gain on sales of non-rental equipment
($18.0M)
($17.0M)
($21.0M)
($9.0M)
Insurance proceeds from damaged equipment
($50.0M)
($51.0M)
($38.0M)
($32.0M)
Stock compensation expense, net
$134.0M
$112.0M
$94.0M
$127.0M
Restructuring charge
$1.0M
$3.0M
$28.0M
$0
Debt related activity
$15.0M
$1.0M
$0
$17.0M
Increase (decrease) in deferred taxes
$405.0M
($19.0M)
$35.0M
$537.0M
Increase in accounts receivable
($120.0M)
($20.0M)
($167.0M)
($329.0M)
(Increase) decrease in inventory
($38.0M)
$15.0M
$19.0M
($25.0M)
(Increase) decrease in prepaid expenses and other assets
($135.0M)
($27.0M)
$281.0M
($164.0M)
Decrease in accounts payable
($22.0M)
($203.0M)
($45.0M)
$304.0M
Increase (decrease) in accrued expenses and other liabilities
$36.0M
($31.0M)
$85.0M
$238.0M
Net cash provided by operating activities
$5.2B
$4.5B
$4.7B
$4.4B
Payments for purchases of rental equipment
($4.1B)
($3.8B)
($3.7B)
($3.4B)
Payments for purchases of non-rental equipment and intangible assets
($379.0M)
($374.0M)
($356.0M)
($254.0M)
Proceeds from sales of rental equipment
$1.4B
$1.5B
$1.6B
$965.0M
Proceeds from sales of non-rental equipment
$56.0M
$67.0M
$60.0M
$24.0M
Insurance proceeds from damaged equipment
$50.0M
$51.0M
$38.0M
$32.0M
Purchases of other companies, net of cash acquired
($357.0M)
($1.7B)
($574.0M)
($2.3B)
Purchases of investments
($3.0M)
($5.0M)
($4.0M)
($7.0M)
Net cash used in investing activities
($3.4B)
($4.1B)
($3.0B)
($5.0B)
Proceeds from debt
$11.2B
$11.6B
$8.6B
$9.9B
Payments of debt
($10.5B)
($9.9B)
($8.6B)
($8.2B)
Payment of contingent consideration
($23.0M)
—
—
—
Payments of financing and other debt related costs
($38.0M)
($17.0M)
$0
($24.0M)
Dividends paid
($464.0M)
($434.0M)
($406.0M)
—
Common stock repurchased, including tax withholdings for share based compensation
($2.0B)
($1.6B)
($1.1B)
($1.1B)
Net cash used in financing activities
($1.8B)
($274.0M)
($1.5B)
$552.0M
Effect of foreign exchange rates
$22.0M
($30.0M)
$3.0M
($7.0M)
Net increase in cash and cash equivalents
$2.0M
$94.0M
$257.0M
($38.0M)
Cash and cash equivalents at beginning of year
$457.0M
$363.0M
$106.0M
$144.0M
Cash and cash equivalents at end of year
$459.0M
$457.0M
$363.0M
$106.0M
Cash paid for interest
$703.0M
$674.0M
$614.0M
$406.0M
Cash paid for income taxes, net
$602.0M
$994.0M
$493.0M
$326.0M
United Rentals Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$2.2B
$1.3B
$531.0M
$1.8B
Depreciation and amortization
$2.5B
$1.6B
$795.0M
$2.3B
Amortization of deferred financing costs and original issue discounts
$13.0M
$8.0M
$4.0M
$11.0M
Gain on sales of rental equipment
($470.0M)
($314.0M)
($160.0M)
($460.0M)
Gain on sales of non-rental equipment
($10.0M)
($7.0M)
($4.0M)
($15.0M)
Gain on sale of business
($53.0M)
($49.0M)
—
—
Insurance proceeds from damaged equipment
($34.0M)
($23.0M)
($10.0M)
($36.0M)
Stock compensation expense, net
$122.0M
$79.0M
$36.0M
$102.0M
Restructuring charge
$66.0M
$51.0M
$45.0M
$1.0M
Debt related activity
$0
$0
$0
$15.0M
Increase in deferred taxes
$488.0M
$220.0M
$83.0M
$259.0M
Increase in accounts receivable
($568.0M)
($272.0M)
($29.0M)
($208.0M)
Increase in inventory
($71.0M)
($54.0M)
($14.0M)
($33.0M)
Decrease (increase) in prepaid expenses and other assets
$16.0M
$30.0M
$75.0M
($202.0M)
Increase in accounts payable
$507.0M
$623.0M
$198.0M
$338.0M
Increase in accrued expenses and other liabilities
$256.0M
$114.0M
($36.0M)
$18.0M
Net cash provided by operating activities
$4.9B
$3.3B
$1.5B
$3.9B
Payments for purchases of rental equipment
($4.3B)
($2.7B)
($767.0M)
($3.6B)
Payments for purchases of non-rental equipment and intangible assets
($280.0M)
($165.0M)
($66.0M)
($273.0M)
Proceeds from sales of rental equipment
$1.0B
$680.0M
$350.0M
$1.0B
Proceeds from sales of non-rental equipment
$44.0M
$26.0M
$13.0M
$44.0M
Insurance proceeds from damaged equipment
$34.0M
$23.0M
$10.0M
$36.0M
Purchases of other companies, net of cash acquired
($527.0M)
($400.0M)
($396.0M)
($22.0M)
Proceeds from sale of business
$92.0M
$82.0M
—
—
Purchases of investments
($4.0M)
$0
$0
($2.0M)
Proceeds from sales of investments
$3.0M
$3.0M
$3.0M
—
Net cash used in investing activities
($3.9B)
($2.5B)
($853.0M)
($2.8B)
Proceeds from debt
$7.4B
$4.5B
$2.1B
$7.5B
Payments of debt
($7.1B)
($4.6B)
($2.4B)
($6.9B)
Payment of contingent consideration
($18.0M)
($18.0M)
($18.0M)
($23.0M)
Common stock repurchased, including tax withholdings for share-based compensation
($1.2B)
($816.0M)
($421.0M)
($1.3B)
Payments of financing and other debt related costs
($1.0M)
($1.0M)
$0
($23.0M)
Dividends paid
($371.0M)
($248.0M)
($125.0M)
($350.0M)
Net cash used in financing activities
($1.3B)
($1.2B)
($958.0M)
($1.1B)
Effect of foreign exchange rates
($7.0M)
($7.0M)
($6.0M)
$16.0M
Net (decrease) increase in cash and cash equivalents