United RENTALS, Inc. (URI) intrinsic value & 10-year financials
United RENTALS, Inc. (URI) has a Graham intrinsic value of $1,282.46 per share. At $1,029.64 on Oct 17, 2026, the stock trades 20% below that value. Over the last 10 fiscal years revenue shrank 4.8% a year to $3.7B, with an average return on invested capital of 13.2%.
- Graham intrinsic value
- $1,282.46
- Share price (Oct 17, 2026)
- $1,029.64
- Price vs Graham value
- 20% below
- Market cap
- $66.5B
- Revenue (FY2025)
- $3.7B
- Revenue growth (10-yr CAGR)
- -4.8%
- ROIC (10-yr avg)
- 13.2%
- Free cash flow (FY2025)
- —
URI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $3.7B | $2.5B | $38.61 | — | 107.5% | 14.3% |
| FY2024 | $3.6B | $2.6B | $38.69 | $416.0M | 113.3% | 16.2% |
| FY2023 | $3.4B | $2.4B | $35.28 | $840.0M | 112.7% | 16.1% |
| FY2022 | $2.5B | $2.1B | $29.65 | $743.0M | 129.2% | 14.8% |
| FY2021 | $2.3B | $1.4B | $19.04 | $491.0M | 100.9% | 12.2% |
| FY2020 | $2.0B | $890.0M | $12.20 | $2.5B | 90.3% | 10.2% |
| FY2019 | $2.1B | $1.2B | $15.11 | $2.8B | 104.3% | 11.7% |
| FY2018 | $8.0B | $1.1B | $13.12 | $2.7B | 24.2% | 11.3% |
| FY2017 | $6.6B | $1.3B | $15.73 | $2.1B | 22.7% | 15.1% |
| FY2016 | $5.8B | $566.0M | $6.45 | $1.9B | 24.6% | 10.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
United Rentals is facing top-line stagnation, with revenue contracting over the decade.
United Rentals returns on capital have been average, hovering around 13.2% ROIC over the decade.
Over the decade, United Rentals shows that management has aggressively returned capital to shareholders by retiring 26.4% of outstanding shares, and that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, United Rentals is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $1282.46 per share.