Income StatementBalance SheetCash FlowSegments
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United Rentals Business Segments

Business, geographic, and product segment breakdowns

United Rentals generates $16.1B in annual revenue across 4 key segments: All other rental expenses ($1.3B), Delivery ($717.0M), Labor and benefits ($1.9B), and Repairs and maintenance ($1.0B). The company-wide operating margin is 24.68%. Based on the Q4 2025 filing.

All other rental expenses (TTM)$1.3BDelivery (TTM)$717.0MLabor and benefits (TTM)$1.9BRepairs and maintenance (TTM)$1.0B
Latest FilingQ4 2025
Report Date2026-01-28
Market Cap$58.7B
P/E Ratio23.54
ROE27.76%

Products & Services

Cost of Revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
All other rental expenses$381.0M———$412.0M—
Delivery$228.0M———$274.0M—
Labor and benefits$511.0M———$550.0M—
Repairs and maintenance$272.0M———$294.0M—

Cost of goods and services sold

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Contractor Supplies$26.0M———$32.0M—
New Equipment$65.0M———$75.0M—
Rental Equipment$176.0M———$186.0M—
Serviceand Other Revenues$56.0M———$57.0M—

Revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Contractor Supplies$38.0M———$43.0M—
Delivery And Pick-Up$297.0M———$313.0M—
Other Rental Revenue$291.0M———$342.0M—
Owned equipment rentals$2.8B———$2.9B—
Re-rent revenue$71.0M———$73.0M—
New Equipment$77.0M———$95.0M—
Rental Equipment$321.0M———$333.0M—
Serviceand Other Revenues$93.0M———$93.0M—
Ancillaryand Other Rental Revenue$588.0M———$655.0M—
Equipment Rental Revenue$3.5B———$3.7B—

Depreciation

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Equipment rentals gross profit$629.0M———$684.0M—

Equipment rental revenue (as a percent)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Equipment rentals gross profit0.42———0.40—

Gross Profit

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Equipment Rentals Operating Lease$1.4B———$1.5B—

Other, Topic 842

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Other Rental Revenue$243.0M———$281.0M—

Owned equipment rentals, Topic 842

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Owned Equipment Rentals$2.8B———$2.9B—

Re-rent revenue, Topic 842

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Rerent Revenue$71.0M———$73.0M—

Revenues, Topic 842

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Ancillary and Other Rental Revenues$243.0M———$281.0M—

Geographic

Equipment

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Foreign—$1.3B———$1.5B

Goodwill and other intangible assets, net

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Foreign—$653.0M———$824.0M

Revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Foreign$338.5M$338.5M$357.0M$357.0M$357.0M$357.0M

Business Segments

Equipment rental revenue (as a percent)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General Rentals——0.170.170.170.17

FX & Other Adjustments

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General Rentals-$4.0M-$4.0M$2.5M$2.5M$2.5M$2.5M

Number of geographic divisions entity operates in (locations)

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General rentals————4.004.00

Revenue

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General Rentals$2.7B———$2.8B—
Specialty$1.2B———$1.4B—

Segment, Expenditure, Addition to Long-Lived Assets

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General Rentals Segment$775.5M$775.5M$852.3M$852.3M$852.3M$852.3M
Specialty Segment$257.0M$257.0M$289.8M$289.8M$289.8M$289.8M

Total Assets

SegmentQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
General Rentals—$21.0B——$22.1B$21.8B
Specialty—$7.1B——$7.9B$8.1B