What is United Rentals's free cash flow?

United Rentals (URI) reported free cash flow of -$168M in Q3 2024.

How has United Rentals's free cash flow changed year-over-year?

United Rentals's free cash flow decreased by 200.0% year-over-year, from -$56M to -$168M.

What does free cash flow mean?

Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

United Rentals URI Free cash flow

Discontinued — last reported Q3 '24

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Other financials

Income statement

See full

Revenue$4.0B+7.2%

Gross profit$1.5B+8.3%

Operating income$869.0M+8.1%

Net income$531.0M+2.5%

EPS (diluted)$8.43+6.6%

Balance sheet

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Cash & equivalents$156.0M-71.2%

Total debt$17.0B+8.2%

Total equity$9.0B+2.0%

Total assets$29.9B+6.6%

Cash flow

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Operating cash flow$1.5B+6.2%

CapEx$1.4B+22.7%

Valuation

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Market cap$71.39B+55.7%

Enterprise value$88.22B+44.6%

P/E28.5×+10.5×

P/S4.4×+1.4×

Profitability

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Gross margin38.2%-1.3pp

Operating margin24.7%-1.1pp

Net margin15.3%-1.1pp

FCF margin33.9%—

Returns & leverage

See full

Return on equity28.2%-1.9pp

Debt / equity1.9×+0.1×

Current ratio0.8×-0.1×

Where this comes from

Calculated from United Rentals’s reported figures.

$1.2Bnet cash from operating−$1.4Bcapital expenditures=-$168M

The official record: United Rentals’s 10-Q, filed October 22, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is United Rentals's free cash flow?: United Rentals (URI) reported free cash flow of -$168M in Q3 2024.
How has United Rentals's free cash flow changed year-over-year?: United Rentals's free cash flow decreased by 200.0% year-over-year, from -$56M to -$168M.
What does free cash flow mean?: Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.