Company Valuation: United Rentals, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,056 24,634 38,867 46,227 51,497 64,976 - -
Change - 2.4% 57.78% 18.94% 11.4% 26.17% - -
Enterprise Value (EV) 1 33,597 35,898 50,022 59,176 65,267 79,358 79,349 79,027
Change - 6.85% 39.35% 18.3% 10.29% 21.59% -0.01% -0.41%
P/E 17.5x 12x 16.3x 18.2x 21x 22.7x 19.3x 17.1x
PBR 6.33x 3.56x 4.83x 5.42x 5.69x 6.57x 5.79x 5.02x
PEG - 0.2x 0.9x 1.88x -101.56x 1.2x 1.1x 1.3x
Capitalization / Revenue 2.48x 2.12x 2.71x 3.01x 3.2x 3.66x 3.37x 3.1x
EV / Revenue 3.46x 3.08x 3.49x 3.86x 4.05x 4.47x 4.11x 3.77x
EV / EBITDA 7.61x 6.39x 7.3x 8.26x 8.91x 9.84x 9.03x 8.24x
EV / EBIT 14.8x 11.1x 13.1x 14.6x 16.4x 17.5x 15.6x 14x
EV / FCF 22.6x 20.7x 21.7x 74.6x 29.9x 35.6x 35.4x 26.4x
FCF Yield 4.43% 4.82% 4.61% 1.34% 3.34% 2.81% 2.83% 3.78%
Dividend per Share 2 - - 5.92 6.52 7.16 7.783 8.576 9.14
Rate of return - - 1.03% 0.93% 0.88% 0.75% 0.82% 0.88%
EPS 2 19.04 29.65 35.28 38.69 38.61 46 54.12 61.16
Distribution rate - - 16.8% 16.9% 18.5% 16.9% 15.8% 14.9%
Net sales 1 9,716 11,642 14,332 15,345 16,099 17,746 19,300 20,980
EBITDA 1 4,414 5,618 6,857 7,160 7,328 8,061 8,790 9,592
EBIT 1 2,277 3,232 3,827 4,065 3,973 4,528 5,096 5,626
Net income 1 1,386 2,105 2,424 2,575 2,494 2,875 3,288 3,667
Net Debt 1 9,541 11,264 11,155 12,949 13,770 14,382 14,373 14,051
Reference price 2 332.29 355.42 573.42 704.44 809.32 1,043.92 1,043.92 1,043.92
Nbr of stocks (in thousands) 72,394 69,308 67,781 65,622 63,630 62,242 - -
Announcement Date 26/01/22 25/01/23 24/01/24 29/01/25 28/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.69x4.47x9.84x0.75% 64.98B
18.92x3.29x7.83x1.66% 30.69B
27.84x2.6x6.17x2.13% 4.48B
55.86x1.53x4.31x-.--% 4.61B
17.91x - - 1.72% 2.81B
14.19x0.68x2.7x2.04% 1.17B
10.88x4.39x6.92x - 1.11B
10.88x0.74x2.99x2.87% 820M
Average 22.40x 2.53x 5.82x 1.6% 13.83B
Weighted average by Cap. 22.82x 3.86x 8.72x 1.08%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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