| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 38 | 23.8x | 17.8x | Bottom tier | |
Growth | 64 | 6.9% | 7.1% | Around median | |
Quality | 66 | 13.6% | 4.5% | Top tier | |
Safety | 41 | 2.9x | 2.6x | Around median | |
Capital Return | 24 | 0.72% | 2.12% | Bottom tier | |
Momentum | 68 | 23.7% | 2.9% | Top tier | |
Sentiment | 68 | 15 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
United Rentals is an equipment rental company serving construction, industrial, and infrastructure projects, with its competitive strength based on providing a broad range of fleet and specialized services through a “one-stop shop” model. The company generates most of its business from rental revenue, alongside ancillary services, re-rental, and used equipment sales; in Q2 FY2026, total revenue reached $4.4 billion, including more than $3.8 billion in rental revenue, while proceeds from used equipment sales amounted to $330 million from equipment with an original cost of $624 million.
In Q2 FY2026, the company recorded year-over-year growth of 12% in total revenue and approximately 13% in rental revenue, with organic rental revenue growth of 9%, supported by a 7.1% increase in average fleet size and 3.4% fleet productivity. Adjusted EBITDA exceeded $2 billion at a margin of 46.6%, and adjusted earnings per share rose 22% to $12.76, which management described as record levels for the second quarter. Excluding a net benefit of $49 million from the sale of the scaffolding business, adjusted EBITDA increased by $197 million.
Growth came from both general rentals and specialty operations, but specialty operations grew faster, with rental revenue rising 25% year over year and 11 new locations opening, while all seven of its units grew at double-digit rates. Nonresidential construction and infrastructure led growth in the construction segment, while energy recorded double-digit growth and the energy market accounted for more than 10% of the company’s business; active projects included hospitals, airports, liquefied natural gas facilities, and data centers, with semiconductor projects improving during Q2 FY2026.
The average analyst price target is $1233, compared with a wide range extending from $903 to $1421 and a consensus rating of “Buy.” The average is above the 52-week high of $1179.18, but the breadth of the targets and the 52-week range extending from $701.59 to $1179.18 highlight the valuation’s sensitivity to the sustainability of major projects, capital expenditure, and margins; no valid price-to-earnings ratio value was provided in the data.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Total revenue rose 12% year over year to $4.4 billion, while rental revenue increased 12.7% to more than $3.8 billion. Growth of 7.1% in the average fleet and 3.4% in fleet productivity helped increase organic rental revenue by 9%. Ancillary services and re-rental also grew by approximately 28%, together adding $188 million. These factors increased adjusted earnings per share by 22% to $12.76.
On July 23, 2026, the company raised its revenue range to $17.5–17.8 billion, an increase of $500 million from its previous guidance. It also raised its adjusted EBITDA range to $7.975–8.125 billion, an increase of $300 million. The guidance targets stable margins year over year and raises the gross rental fleet capital expenditure range to $4.85–5.25 billion. The company reaffirmed its free cash flow forecast of $2.15–2.45 billion.
Specialty rental revenue rose 25% year over year during Q2 FY2026, with 11 new locations opening. All seven specialty units achieved double-digit growth, including energy and heating, ventilation, and air conditioning, fluid solutions, trench safety, tools, mats, mobile units, and site services. Mobile units, portable storage, and site services were among the fastest-growing smaller operations. Management believes complex major projects increase customer demand for the one-stop shop model that combines these services.
Automated analysis for informational purposes only — not investment advice.
Q2 FY2026 data does not indicate that growth depends solely on data centers. Management cited projects in hospitals, airports, liquefied natural gas facilities, infrastructure, stadiums, and pharmaceuticals, alongside data centers. Semiconductor projects also improved during the quarter, while the energy market recorded double-digit growth and accounted for more than 10% of the company’s business. By contrast, local market growth remained at a low-single-digit rate, and petrochemicals, industrial manufacturing, and residential were not strong drivers.
The company returned $998 million to shareholders from the beginning of FY2026 through the end of June, including $750 million through share repurchases and $248 million through dividends. On August 25, 2026, it announced a new $5 billion share repurchase program and quarterly dividends of $1.97 per share. This is supported by expected free cash flow of between $2.15 and $2.45 billion for FY2026. Net leverage stood at 1.8 times and liquidity was approximately $3 billion at the end of June 2026.
The adjusted EBITDA margin reached 46.6% in Q2 FY2026, but part of the reported improvement included a $49 million benefit from the sale of the scaffolding business. Rapid growth in ancillary services and re-rental generates additional revenue at limited margins, particularly when passing through fuel and delivery costs. Higher fuel costs created an estimated 20–30 basis points of year-over-year pressure during the quarter. Therefore, FY2026 guidance targets stable margins year over year, with execution dependent on controlling labor, delivery, maintenance, and equipment transfer costs.
