Income StatementBalance SheetCash FlowSegments
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United Rentals Cash Flow Statement

Operating, investing, and financing cash movements

United Rentals generated $5.2B in operating cash flow over the trailing twelve months. After $5.0B in capital expenditures, free cash flow was $3.0B. Free cash flow increased 0.0% year-over-year. Based on the Q4 2025 filing.

Net Cash From Operating (TTM)$5.2BNet Cash From Investing (TTM)-$3.4BNet Cash From Financing (TTM)-$1.8BCapital Expenditures (TTM)$2.5BNet Change In Cash (TTM)$2.0M
Latest FilingQ4 2025
Report Date2026-01-28
Market Cap$58.7B
P/E Ratio23.54
ROE27.76%

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Payment for contingent consideration liability (financing)$0.0$0.0$5.8M$5.8M$5.8M$5.8M
Dividends paid$108.5M$108.5M$116.0M$116.0M$116.0M$116.0M
Net cash from financing activities-$68.5M-$68.5M-$460.3M-$460.3M-$460.3M-$460.3M
Repurchases of common stock$392.8M$392.8M$492.3M$492.3M$492.3M$492.3M
Payments of consent fees related to long-term debt$4.3M$4.3M$9.5M$9.5M$9.5M$9.5M
Proceeds from issuances of debt$2.9B$2.9B$2.8B$2.8B$2.8B$2.8B
Repayments of Debt and Lease Obligation$2.5B$2.5B$2.6B$2.6B$2.6B$2.6B

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Acquisitions, net of cash acquired$413.8M$413.8M$89.3M$89.3M$89.3M$89.3M
Net cash from investing activities-$1.0B-$1.0B-$842.3M-$842.3M-$842.3M-$842.3M
Purchases of investments$1.3M$1.3M$750.0K$750.0K$750.0K$750.0K
Payments to Acquire Property, Plant, and Equipment and Intangible Assets$93.5M$93.5M$94.8M$94.8M$94.8M$94.8M
Payments To Acquire Property Subject To Or Available For Operating Lease$938.3M$938.3M$1.0B$1.0B$1.0B$1.0B
Proceeds from disposals of property, plant and equipment$16.8M$16.8M$14.0M$14.0M$14.0M$14.0M
Proceeds from sales of rental equipment$380.3M$380.3M$353.3M$353.3M$353.3M$353.3M

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Gain on sale of property, plant, and equipment$4.3M$4.3M$4.5M$4.5M$4.5M$4.5M
Change in accounts payable-$50.8M-$50.8M-$5.5M-$5.5M-$5.5M-$5.5M
Change in accounts receivable$5.0M$5.0M$30.0M$30.0M$30.0M$30.0M
Change in accrued liabilities-$7.8M-$7.8M$9.0M$9.0M$9.0M$9.0M
Change in inventories-$3.8M-$3.8M$9.5M$9.5M$9.5M$9.5M
Deferred income taxes-$4.8M-$4.8M$101.3M$101.3M$101.3M$101.3M
Restructuring and other charges$1.0M———$0.0—
Loss on extinguishment of debt-$250.0K-$250.0K-$3.8M-$3.8M-$3.8M-$3.8M
Gain (Loss) Related to Litigation Settlement$12.8M$12.8M$12.5M$12.5M$12.5M$12.5M
Net cash from operating activities$1.1B$1.1B$1.3B$1.3B$1.3B$1.3B
Net income$708.0M$689.0M$518.0M$622.0M$701.0M$653.0M
Stock-based compensation$28.0M$28.0M$33.5M$33.5M$33.5M$33.5M
Non-cash interest expense$3.8M$3.8M$3.8M$3.8M$3.8M$3.8M
Depreciation and amortization$725.8M$725.8M$777.0M$777.0M$777.0M$777.0M
Gain (Loss) On Sale Of Property Subject To Or Available For Operating Lease, Net$177.5M$177.5M$158.8M$158.8M$158.8M$158.8M
Increase (Decrease) in Prepaid Expense and Other Assets$6.8M$6.8M$33.8M$33.8M$33.8M$33.8M

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of exchange rate changes on cash-$7.5M-$7.5M$5.5M$5.5M$5.5M$5.5M
Net increase (decrease) in cash$23.5M$23.5M$500.0K$500.0K$500.0K$500.0K

Supplemental

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Interest paid$168.5M$168.5M$175.8M$175.8M$175.8M$175.8M
Income Taxes Paid, Net$248.5M$248.5M$150.5M$150.5M$150.5M$150.5M