United Rentals, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.10B | $15.35B | $14.33B | $11.64B | $9.72B | $8.53B | $9.35B | $8.05B |
| Cost of Revenue | $9.96B | $9.20B | $8.52B | $6.65B | $5.86B | $5.35B | $5.68B | $4.68B |
| Gross Profit | $6.14B | $6.15B | $5.81B | $5.00B | $3.85B | $3.18B | $3.67B | $3.36B |
| Gross Margin | 38.2% | 40.1% | 40.6% | 42.9% | 39.7% | 37.3% | 39.2% | 41.8% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $1.73B | $1.65B | $1.53B | $1.40B | $1.20B | $979.0M | $1.09B | $1.04B |
| Operating Income | $3.97B | $4.07B | $3.83B | $3.23B | $2.28B | $1.80B | $2.15B | $1.95B |
| Operating Margin | 24.7% | 26.5% | 26.7% | 27.8% | 23.4% | 21.1% | 23.0% | 24.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $3.34B | $3.39B | $3.21B | $2.80B | $1.85B | $1.14B | $1.51B | $1.48B |
| Income Tax Expense | $844.0M | $813.0M | $787.0M | $697.0M | $460.0M | $249.0M | $340.0M | $380.0M |
| Net Income | $2.49B | $2.58B | $2.42B | $2.11B | $1.39B | $890.0M | $1.17B | $1.10B |
| Net Margin | 15.5% | 16.8% | 16.9% | 18.1% | 14.3% | 10.4% | 12.6% | 13.6% |
| EPS (Basic) | $38.71 | $38.82 | $35.40 | $29.77 | $19.14 | $12.24 | $15.18 | $13.26 |
| EPS (Diluted) | $38.61 | $38.69 | $35.28 | $29.65 | $19.04 | $12.20 | $15.11 | $13.12 |
| Shares Outstanding (Basic) | 64.4M | 66.3M | 68.5M | 70.7M | 72.4M | 72.7M | 77.3M | 82.7M |
| Shares Outstanding (Diluted) | 64.6M | 66.6M | 68.7M | 71.0M | 72.8M | 72.9M | 77.7M | 83.5M |
| Dividends Per Share | $7.16 | $6.52 | $5.92 | — | — | — | — | — |