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United Rentals: equipment-rental scale has to earn its leverage through cash conversion

URIResearch reportPosted by Goglides ResearchMay 20, 2026
NYSEURICoverage BootstrapUnited Rentals, Inc.

Thesis summary

URI has an annual revenue baseline of $16.1B, latest revenue marker of $4.0B Q1 2026, annual net income of $2.5B and cash of $156M. The thesis depends on revenue durability, margins, cash conversion and balance-sheet discipline.

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URI has an annual revenue baseline of $16.1B, latest revenue marker of $4.0B Q1 2026, annual net income of $2.5B and cash of $156M. The thesis depends on revenue durability, margins, cash conversion and balance-sheet discipline.

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