UNITED RENTALS, INC（URI）の決算・業績分析
UNITED RENTALS, INCの2025年有価証券報告書をAI分析。売上高$3.7B(+3.0%)。営業利益$4.0B。Information Technology。
目次
UNITED RENTALS, INCの2025年度 業績サマリー
UNITED RENTALS, INC（証券コード: URI）の2025年度決算・業績分析。売上高は$3.7B（前年比+3.0%）。営業利益は$4.0B（前年比-2.3%）。純利益は$2.5B（前年比-3.1%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
UNITED RENTALS, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 10.9% YoY to $2.5B (XBRL), driven by equipment rental (85% of total revenue) (10-K).
- Gross margin reached 199.8% (XBRL), with operating income surging 41.9% YoY to $3.2B (XBRL).
- Net income jumped 51.9% YoY to $2.1B (XBRL), despite a negative $583M free cash flow (FCF) (XBRL).
- Net debt/EBITDA ratio of 3.6x (XBRL) highlights significant leverage risks, with $13.1B net debt (XBRL).
- Shareholder returns totaled $1.1B via buybacks (XBRL), though dividends were $0 (XBRL).
UNITED RENTALS, INCの売上高変化の要因
- •Total revenue increased 10.9% YoY to $2.5B (XBRL), with equipment rental as the sole explicitly mentioned revenue driver (85% of total revenue) (10-K). Segment-level revenue breakdowns are not available in XBRL data (N/A). Historical trends show revenue declined 15.9% CAGR over five years (from $8.0B in FY2020 to $2.5B in FY2024) (XBRL), though FY2024 marks a reversal with growth compared to FY2023 ($2.3B).
UNITED RENTALS, INCの営業利益変化の要因
- •Gross profit rose to $5.0B (XBRL), with a gross margin of 199.8% (XBRL), reflecting high rental margins. Operating income surged 41.9% YoY to $3.2B (XBRL), driven by margin expansion and inflation cost pass-through (10-K). Net income jumped 51.9% YoY to $2.1B (XBRL). Operating margin expanded to 129.2% (XBRL), and net margin reached 84.2% (XBRL). Cost of sales changes are not quantified but impacted by inflation (10-K).
UNITED RENTALS, INCの事業リスクと対応
Economic downturns or public health crises could reduce rental demand and harm revenues (10-K).
Weakness in construction/industrial markets may lower rental rates and margins (10-K).
Excess fleet capacity and high competition could depress prices and market share (10-K).
Volatile oil/gas prices may reduce energy sector customer activity (10-K).
High debt levels (Net Debt: $13.1B) and leverage (D/E: 2.15x) increase financial risk (XBRL).
Geopolitical conflicts (e.g., Russia-Ukraine war) pose indirect risks to operations (10-K).
UNITED RENTALS, INCの今後の見通し・業績予想
UNITED RENTALS, INCの事業内容
United Rentals, Inc. (URI) is the largest equipment rental company in the U.S., Canada, and other regions, generating 85% of revenue from equipment rental fees (10-K). Key segments include General construction/industrial equipment (40% of rental revenue), Aerial work platforms (23%), and Power/HVAC (11%) (10-K). The company serves diverse customers with no single client exceeding 1% of total revenue (10-K), and operates with 27,900 employees (up from 26,300 in FY2023) (10-K). URI estimates a 15% North American market share but does not name specific competitors (10-K).
UNITED RENTALS, INCのAI業績分析レポート（2024年度）
United Rentals, Inc. (URI) FY2024 Annual Report Analysis
Highlights
Business Overview
United Rentals, Inc. (URI) is the largest equipment rental company in the U.S., Canada, and other regions, generating 85% of revenue from equipment rental fees (10-K). Key segments include General construction/industrial equipment (40% of rental revenue), Aerial work platforms (23%), and Power/HVAC (11%) (10-K). The company serves diverse customers with no single client exceeding 1% of total revenue (10-K), and operates with 27,900 employees (up from 26,300 in FY2023) (10-K). URI estimates a 15% North American market share but does not name specific competitors (10-K).
Revenue Analysis
Total revenue increased 10.9% YoY to $2.5B (XBRL), with equipment rental as the sole explicitly mentioned revenue driver (85% of total revenue) (10-K). Segment-level revenue breakdowns are not available in XBRL data (N/A). Historical trends show revenue declined 15.9% CAGR over five years (from $8.0B in FY2020 to $2.5B in FY2024) (XBRL), though FY2024 marks a reversal with growth compared to FY2023 ($2.3B).
Profitability Analysis
Gross profit rose to $5.0B (XBRL), with a gross margin of 199.8% (XBRL), reflecting high rental margins. Operating income surged 41.9% YoY to $3.2B (XBRL), driven by margin expansion and inflation cost pass-through (10-K). Net income jumped 51.9% YoY to $2.1B (XBRL). Operating margin expanded to 129.2% (XBRL), and net margin reached 84.2% (XBRL). Cost of sales changes are not quantified but impacted by inflation (10-K).
Balance Sheet Analysis
Equity ratio was 33.6% (XBRL), with total equity rising to $8.1B (XBRL) in FY2024. Long-term debt reached $13.5B (XBRL), resulting in a net debt/EBITDA ratio of 3.6x (XBRL). Current ratio was 0.81x (XBRL), indicating potential liquidity constraints. Cash reserves totaled $363M (XBRL), while total assets grew to $24.2B (XBRL).
Cash Flow Analysis
Operating cash flow increased to $4.4B (XBRL), exceeding net income of $2.1B (XBRL). Free cash flow (FCF) was negative $583M (XBRL) due to $5.0B in investing cash outflows (XBRL). Financing activities included $1.1B in share repurchases (XBRL) and $552M in net financing inflows (XBRL). No dividends were paid (XBRL).
Working Capital Analysis
Risks
Outlook
Management highlights inflation, rising interest rates, and supply chain risks as key challenges (10-K). No explicit forward guidance is provided, but operational efficiency initiatives (e.g., Lean management) are emphasized as potential enablers for future performance (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 8.0B | 2.1B | 2.0B | 2.3B | 2.5B | 3.4B |
| Operating Income | 2.0B | 2.2B | 1.8B | 2.3B | 3.2B | 3.8B |
| Net Income | 1.1B | 1.2B | 890M | 1.4B | 2.1B | 2.4B |
| Total Assets | 18.1B | 19.0B | 17.9B | 20.3B | 24.2B | 25.6B |
| Total Equity | 3.8B | 4.5B | 6.0B | 7.1B | 8.1B | 8.6B |
| Operating Cash Flow | 2.9B | 3.0B | 2.7B | 3.7B | 4.4B | 4.7B |
Information Technologyの企業一覧
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