United Rentals, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $2.49B | $2.58B | $2.42B | $2.11B | $1.39B | $890.0M | $1.17B | $1.10B |
| Depreciation & Amortization | $438.0M | $437.0M | $431.0M | $364.0M | $372.0M | $387.0M | $407.0M | $308.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $238.0M | $258.0M | $271.0M | $219.0M | $233.0M | $250.0M | $290.0M | $213.0M |
| Stock-Based Compensation | $134.0M | $112.0M | $94.0M | $127.0M | $119.0M | $70.0M | $61.0M | $102.0M |
| Net Cash from Operating Activities | $5.19B | $4.55B | $4.70B | $4.43B | $3.69B | $2.66B | $3.02B | $2.85B |
| Investing Activities | ||||||||
| Capital Expenditures | — | $4.13B | $3.86B | $3.69B | $3.20B | $197.0M | $218.0M | $185.0M |
| Business Acquisitions | $357.0M | $1.66B | $574.0M | $2.34B | $1.44B | $2.0M | $249.0M | $2.97B |
| Net Cash from Investing Activities | $-3.37B | $-4.15B | $-2.98B | $-5.02B | $-3.61B | $-223.0M | $-1.71B | $-4.55B |
| Financing Activities | ||||||||
| Dividends Paid | $464.0M | $434.0M | $406.0M | $0 | $0 | — | — | — |
| Stock Repurchases | $1.97B | $1.57B | $1.07B | $1.07B | $34.0M | $286.0M | $870.0M | $817.0M |
| Net Cash from Financing Activities | $-1.84B | $-274.0M | $-1.47B | $552.0M | $-140.0M | $-2.29B | $-1.31B | $1.40B |
| Net Change in Cash | $2.0M | $94.0M | $257.0M | $-38.0M | $-58.0M | $150.0M | $9.0M | $-309.0M |
| Free Cash Flow | — | $416.0M | $840.0M | $743.0M | $491.0M | $2.46B | $2.81B | $2.67B |