URIUnited Rentals

Industrials · Equipment Rental · NYSE

United Rentals is the largest equipment rental company in the world, operates throughout the United States and Canada, and has a smaller presence in Europe, Australia and New Zealand. 10-K, Item 1

Employees: 1,800
Headquarters: Stamford, CT
Next results: around Jan 27, 2027

Compare with peers → Embed

Dilution: new shares, stock pay and buybacks

prospectuses (S-3, 424B) of the last three years and the 10-K cash flow From EDGAR

New Oct 23, 2026: Shelf registration: shares and other securities, amount not fixed (S-3ASR) Email me when URI files the next one

Shares offered

Since Nov 11, 2023: 1 shelf registration.

Oct 23, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR

“from time to time, offer and sell common stock, preferred stock and warrants.”
S-3ASR, Oct 23, 2026 ↗

Every offering filing →

Paid in stock

$134.0M

stock-based pay, year to Dec 31, 2025

Bought back

$2.0B

cash paid for its own shares, year to Dec 31, 2025: 14.7× the stock pay

Diluted shares: 64.60M in the year to Dec 31, 2025 2025 -2.9%2024 -3.1%2023 -3.2%2022 -2.5%

Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How

Where the cash came from and where it went

Last year 3 years 5 years

FY2025, from the cash flow statement in the 10-K, added up.

Came from

Operating cash flow NetCashProvidedByUsedInOperatingActivities, 0001067701-26-000007	$5.2B
Debt raised ProceedsFromIssuanceOfDebt, 0001067701-26-000007	$11.2B

Went to

Acquisitions PaymentsToAcquireBusinessesNetOfCashAcquired, 0001067701-26-000007	$357.0M
Buybacks PaymentsForRepurchaseOfCommonStock, 0001067701-26-000007	$2.0B
Dividends PaymentsOfDividends, 0001067701-26-000007	$464.0M
Added to cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect, 0001067701-26-000007	$2.0M
Other, net investments bought and sold, other financing and investing lines, and exchange rates	$13.6B

Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.

Each CEO's years

The CEO of each fiscal year as named in the proxy's pay versus performance table, and what the 10-Ks show for those years. Facts, not a grade.

Mr. Flannery

FY2021 to FY2025 · 5 years in the table

Operating cash flow: $22.6B
Capital spending: $14.9B
Acquisitions: $6.4B
Buybacks: $5.7B
Dividends: $1.3B
Stock-based pay: $586.0M
Diluted shares since FY2020: -11.4%
Revenue since FY2020: +89%
Debt since FY2020: +$5.4B
CEO pay (reported): $61.3M

The proxy that names the CEO ↗

Buybacks, year to Dec 31, 2025

$2.0B

cash paid for its own shares

Paid in stock to employees

$134.0M

buybacks were 14.7× this

Share count, 1 year

-3.0%

fewer shares: each share owns more

Share count, 3 years

-9.0%

diluted average shares

Fiscal year to	Buybacks	Dividends	Stock pay	Shares issued for cash	Diluted shares
2025-12-31	$2.0B	$464.0M	$134.0M	-	64.60M
2024-12-31	$1.6B	$434.0M	$112.0M	-	66.57M
2023-12-31	$1.1B	$406.0M	$94.0M	-	68.71M
2022-12-31	$1.1B	$0	$127.0M	$0	70.97M
2021-12-31	$34.0M	$0	$119.0M	$0	72.82M

From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividends; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.

Work on URI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/URI/export.csv") into a cell.