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 61,566 - -
Change - 2.4% 57.78% 18.94% 11.4% 19.55% - -
Enterprise Value (EV) 1 33,597 35,898 50,022 59,176 65,267 75,948 75,938 75,616
Change - 6.85% 39.35% 18.3% 10.29% 16.36% -0.01% -0.42%
P/E 17.5x 12x 16.3x 18.2x 21x 21.5x 18.3x 16.2x
PBR 6.33x 3.56x 4.83x 5.42x 5.69x 6.22x 5.48x 4.76x
PEG - 0.2x 0.9x 1.88x -101.56x 1.1x 1x 1.2x
Capitalization / Revenue 2.48x 2.12x 2.71x 3.01x 3.2x 3.47x 3.19x 2.93x
EV / Revenue 3.46x 3.08x 3.49x 3.86x 4.05x 4.28x 3.93x 3.6x
EV / EBITDA 7.61x 6.39x 7.3x 8.26x 8.91x 9.42x 8.64x 7.88x
EV / EBIT 14.8x 11.1x 13.1x 14.6x 16.4x 16.8x 14.9x 13.4x
EV / FCF 22.6x 20.7x 21.7x 74.6x 29.9x 34.1x 33.8x 25.3x
FCF Yield 4.43% 4.82% 4.61% 1.34% 3.34% 2.94% 2.95% 3.95%
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% 0.79% 0.87% 0.92%
EPS 2 19.04 29.65 35.28 38.69 38.61 46 54.1 61.16
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 17,746 19,300 20,980
EBITDA 1 4,414 5,618 6,857 7,160 7,328 8,061 8,785 9,592
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 2,875 3,286 3,667
Net Debt 1 9,541 11,264 11,155 12,949 13,770 14,382 14,373 14,051
Reference price 2 332.29 355.42 573.42 704.44 809.32 989.13 989.13 989.13
Nbr of stocks (in thousands) 72,394 69,308 67,781 65,622 63,630 62,242 - -
Announcement Date 26/1/22 25/1/23 24/1/24 29/1/25 28/1/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.5x4.28x9.42x0.79% 61.57B
18.23x3.19x7.59x1.74% 29.46B
29.12x2.64x6.26x2.06% 4.65B
54.23x1.51x4.24x-.--% 4.48B
17.27x - - 1.79% 2.71B
13.85x0.66x2.62x2.09% 1.16B
11.3x4.45x7x - 1.15B
10.82x0.74x2.97x2.89% 828M
Average 22.04x 2.49x 5.73x 1.62% 13.25B
Weighted average by Cap. 21.92x 3.71x 8.38x 1.13%

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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