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 64,125 - -
Change - 2.4% 57.78% 18.94% 11.4% 24.52% - -
Enterprise Value (EV) 1 33,597 35,898 50,022 59,176 65,267 78,520 78,441 78,230
Change - 6.85% 39.35% 18.3% 10.29% 20.31% -0.1% -0.27%
P/E 17.5x 12x 16.3x 18.2x 21x 22.4x 19.1x 16.8x
PBR 6.33x 3.56x 4.83x 5.42x 5.69x 6.49x 5.73x 4.93x
PEG - 0.2x 0.9x 1.88x -101.56x 1.2x 1.1x 1.2x
Capitalization / Revenue 2.48x 2.12x 2.71x 3.01x 3.2x 3.61x 3.33x 3.06x
EV / Revenue 3.46x 3.08x 3.49x 3.86x 4.05x 4.43x 4.07x 3.73x
EV / EBITDA 7.61x 6.39x 7.3x 8.26x 8.91x 9.75x 8.94x 8.17x
EV / EBIT 14.8x 11.1x 13.1x 14.6x 16.4x 17.3x 15.4x 13.9x
EV / FCF 22.6x 20.7x 21.7x 74.6x 29.9x 35.3x 33.9x 25.5x
FCF Yield 4.43% 4.82% 4.61% 1.34% 3.34% 2.83% 2.95% 3.93%
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% 0.76% 0.83% 0.89%
EPS 2 19.04 29.65 35.28 38.69 38.61 45.93 53.95 61.21
Distribution rate - - 16.8% 16.9% 18.5% 16.9% 15.9% 14.9%
Net sales 1 9,716 11,642 14,332 15,345 16,099 17,740 19,284 20,969
EBITDA 1 4,414 5,618 6,857 7,160 7,328 8,056 8,772 9,578
EBIT 1 2,277 3,232 3,827 4,065 3,973 4,528 5,094 5,626
Net income 1 1,386 2,105 2,424 2,575 2,494 2,870 3,276 3,664
Net Debt 1 9,541 11,264 11,155 12,949 13,770 14,395 14,315 14,105
Reference price 2 332.29 355.42 573.42 704.44 809.32 1,030.25 1,030.25 1,030.25
Nbr of stocks (in thousands) 72,394 69,308 67,781 65,622 63,630 62,242 - -
Announcement Date 1/26/22 1/25/23 1/24/24 1/29/25 1/28/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.59x4.45x9.8x0.75% 64.58B
18.83x3.26x7.7x1.6% 30.17B
32.19x2.74x6.53x1.84% 5.2B
56.14x1.54x4.32x-.--% 4.64B
17.73x - - 1.74% 2.78B
12.36x - - - 1.17B
14.5x0.65x2.58x2% 1.12B
11.1x0.76x3.04x2.82% 827M
Average 23.18x 2.23x 5.66x 1.53% 13.81B
Weighted average by Cap. 23.02x 3.84x 8.68x 1.06%

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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