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United Rentals URI Equipment rentals gross profit — Depreciation

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EQPTRental equipment, net
$2.99B

Other financials

Income statement

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Revenue$4.4B+11.8%
Gross profit$1.7B+13.0%
Operating income$1.1B+13.5%
Net income$753.0M+21.1%
EPS (diluted)$12.03+25.4%

Balance sheet

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Cash & equivalents$112.0M-79.6%
Total debt$17.3B+7.7%
Total equity$9.2B+2.1%
Total assets$31.3B+7.2%

Cash flow

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Operating cash flow$1.8B+34.9%
CapEx$1.4B+22.7%
Free cash flow-$168.0M-200%

Valuation

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Market cap$71.06B+22.8%
Enterprise value$88.23B+20.2%
P/E26.9×+4.1×
P/S4.2×+0.5×

Profitability

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Gross margin38.4%-0.9pp
Operating margin24.8%-0.7pp
Net margin15.7%-0.4pp
FCF margin33.9%

Returns & leverage

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Return on equity28.9%-0.4pp
Debt / equity1.9×+0.1×
Current ratio0.8×-0.1×

Where this comes from

Reported directly by United Rentals in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

The official record: United Rentals’s 10-Q, filed July 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is United Rentals's equipment rentals gross profit — depreciation?
United Rentals (URI) reported equipment rentals gross profit — depreciation of $704M in Q2 2026.
How has United Rentals's equipment rentals gross profit — depreciation changed year-over-year?
United Rentals's equipment rentals gross profit — depreciation increased by 8.1% year-over-year, from $651M to $704M.
What is the long-term trend for United Rentals's equipment rentals gross profit — depreciation?
Over 3 years (2022 to 2025), United Rentals's equipment rentals gross profit — depreciation has grown at a 12.9% compound annual growth rate (CAGR), from $1.85B to $2.67B.
What does equipment rentals gross profit — depreciation mean?
This metric represents the systematic allocation of the cost of the rental fleet over its estimated useful life. It is a significant non-cash expense for capital-intensive rental businesses that reflects the wear and tear of assets used in operations. Monitoring this helps investors understand the capital intensity and the ongoing reinvestment requirements needed to maintain a modern fleet.