United Rentals, Inc. (URI) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 1.51B | 1.26B | 1.18B | 1.33B | 1.43B | 1.05B | 1.2B | 1.26B | 1.03B | 1.41B | 1.06B | 1.29B | 939M | 1.25B | 1.14B | 1.15B | 886M | 668M | 1.09B | 1.18B |
| Operating CF Margin % | 37.99% | 29.85% | 27.93% | 33.68% | 38.32% | 25.59% | 30.16% | 33.53% | 29.53% | 37.93% | 28.21% | 36.27% | 28.58% | 37.96% | 37.43% | 41.65% | 35.1% | 24.06% | 41.87% | 51.42% |
| Operating CF Growth % | 6.25% | 19.85% | -1.91% | 4.98% | 38.48% | -25.88% | 13.37% | -1.86% | 9.58% | 13.03% | -7.01% | 11.7% | 5.98% | 87.28% | 5.06% | -1.87% | 16.89% | 80.54% | 31.44% | 43.94% |
| Net Income | 531M | 653M | 701M | 622M | 518M | 689M | 708M | 636M | 542M | 679M | 703M | 591M | 451M | 639M | 606M | 493M | 367M | 481M | 409M | 293M |
| Depreciation & Amortization | 795M | 805M | 793M | 759M | 751M | 762M | 738M | 717M | 686M | 697M | 695M | 696M | 693M | 577M | 560M | 548M | 532M | 532M | 510M | 475M |
| Stock-Based Compensation | 36M | 32M | 32M | 34M | 36M | 33M | 24M | 27M | 28M | 22M | 23M | 25M | 24M | 32M | 35M | 36M | 24M | 30M | 33M | 35M |
| Deferred Taxes | 83M | 146M | 297M | -22M | -16M | 12M | 1M | -15M | -17M | -53M | 35M | 18M | 35M | 407M | 66M | 27M | 37M | 111M | 84M | 70M |
| Other Non-Cash Items | -125M | -188M | -160M | -160M | -164M | -218M | -159M | -185M | -197M | -225M | -189M | -191M | -198M | -247M | -120M | -88M | -122M | -165M | -58M | -88M |
| Working Capital Changes | 194M | -192M | -482M | 95M | 300M | -230M | -108M | 85M | -13M | 294M | -205M | 150M | -66M | -157M | -5M | 138M | 48M | -321M | 109M | 391M |
| Change in Receivables | -29M | 88M | -213M | -57M | 62M | 31M | -117M | -32M | 98M | 87M | -139M | -102M | -13M | -68M | -202M | -135M | 76M | -76M | -206M | -81M |
| Change in Inventory | -14M | -5M | 8M | -14M | -27M | 10M | 12M | -4M | -3M | -3M | 17M | 7M | -2M | 8M | 3M | -23M | -13M | 1M | 6M | -9M |
| Change in Payables | 198M | -360M | -191M | 296M | 233M | -355M | -98M | 324M | -74M | -30M | -220M | 230M | -25M | -28M | 81M | 241M | 10M | -241M | 163M | 289M |
| Cash from Investing | -853M | -603M | -1.19B | -1.21B | -361M | -515M | -1.17B | -1.19B | -1.28B | -437M | -711M | -1.07B | -760M | -2.65B | -978M | -998M | -394M | -408M | -995M | -2.17B |
| Capital Expenditures | 0 | -679M | -1.55B | -1.56B | -745M | -683M | -1.41B | -1.46B | -569M | -725M | -1.12B | -1.36B | -870M | -1.05B | -1.16B | -940M | -537M | -748M | -1.19B | -947M |
| CapEx % of Revenue | 20.9% | 16.14% | 36.56% | 39.51% | 20.03% | 16.68% | 35.4% | 38.75% | 16.33% | 19.45% | 29.69% | 38.18% | 26.48% | 31.92% | 38.05% | 33.92% | 21.28% | 26.95% | 45.8% | 41.41% |
| Acquisitions | 0 | -335M | -6M | 1M | -17M | 564M | -108M | 266M | -722M | -168M | 12M | -119M | -299M | -2.02B | -11M | -235M | -77M | -1M | 0 | -1.43B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -856M | 412M | 359M | 346M | 402M | -395M | 355M | 11M | 13M | 8M | 395M | 408M | 409M | 425M | 195M | 178M | 223M | 340M | 164M | 7M |
| Cash from Financing | -958M | -712M | -14M | -134M | -981M | -528M | -33M | -38M | 325M | -906M | -290M | -92M | -186M | 1.43B | -152M | -187M | -535M | -435M | -103M | 1.05B |
| Debt Issued (Net) | -394M | 48M | 728M | 415M | -538M | -17M | 451M | 448M | 866M | -541M | 62M | 261M | 220M | 1.45B | 87M | 323M | -217M | -434M | -102M | 1.05B |
| Equity Issued (Net) | -421M | -631M | -618M | -431M | -289M | -403M | -377M | -376M | -415M | -264M | -252M | -251M | -303M | -10M | -239M | -501M | -318M | -1M | -1M | -2M |
| Dividends Paid | -125M | -114M | -115M | -117M | -118M | -108M | -107M | -109M | -110M | -101M | -100M | -102M | -103M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -421M | -631M | -618M | -431M | -289M | -403M | -377M | -376M | -415M | -264M | -252M | -251M | -303M | -10M | -239M | -501M | -318M | -1M | -1M | -2M |
| Other Financing | -18M | -15M | -9M | -1M | -36M | 0 | 0 | -1M | -16M | 0 | 0 | 0 | 0 | -15M | 0 | -9M | 0 | 0 | 0 | 0 |
| Net Change in Cash | -303M | -53M | -36M | 6M | 85M | -22M | 12M | 38M | 66M | 79M | 57M | 128M | -7M | 30M | 8M | -33M | -43M | -176M | -16M | 58M |
| Free Cash Flow | 1.51B | 577M | -365M | -230M | 680M | 365M | -209M | -197M | 460M | 689M | -56M | -68M | 69M | 199M | -19M | 214M | 349M | -80M | -102M | 229M |
| FCF Margin % | 37.99% | 13.71% | -8.63% | -5.83% | 18.28% | 8.91% | -5.24% | -5.22% | 13.2% | 18.48% | -1.49% | -1.91% | 2.1% | 6.04% | -0.62% | 7.72% | 13.83% | -2.88% | -3.93% | 10.01% |
| FCF Growth % | 122.65% | 58.08% | -74.64% | -16.75% | 47.83% | -47.02% | -273.21% | -189.71% | 566.67% | 246.23% | -194.74% | -131.78% | -80.23% | 348.75% | 81.37% | -6.55% | -21.4% | -156.34% | -128.98% | -63.24% |
| FCF per Share | 23.81 | 9.07 | -5.68 | -3.54 | 10.39 | 5.51 | -3.16 | -2.95 | 6.82 | 10.16 | -0.82 | -0.99 | 0.99 | 2.85 | -0.27 | 3.00 | 4.80 | -1.10 | -1.40 | 3.15 |
| FCF Conversion (FCF/Net Income) | 2.85x | 1.92x | 1.68x | 2.14x | 2.75x | 1.52x | 1.70x | 1.99x | 1.90x | 2.08x | 1.51x | 2.18x | 2.08x | 1.96x | 1.88x | 2.34x | 2.41x | 1.39x | 2.66x | 4.01x |
| Interest Paid | 196M | 137M | 227M | 117M | 222M | 130M | 227M | 122M | 195M | 119M | 190M | 127M | 178M | 67M | 151M | 39M | 149M | 29M | 167M | 28M |
| Taxes Paid | 17M | 28M | 34M | 498M | 42M | 182M | 206M | 475M | 131M | 104M | 177M | 183M | 29M | 31M | 143M | 142M | 10M | 51M | 43M | 102M |