United Rentals debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$14,230M

Cash & equivalents

USD millions

$112M

Net debt

USD millions

$14,118M

Debt / equity

1.54×

Debt / assets

45.44%

Net debt / EBITDA

× · TTM

3.06×

Debt / FCF

× · TTM

—

Interest coverage

× · TTM

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Current ratio

0.76×

Diluted shares

Million shares

62.63M shares

Basic shares

Million shares

62.55M shares

Share count growth

-3.61%

Share repurchases

USD millions

$395M

Quarterly data

United Rentals capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	14,230	112	14,118	1.54×	45.44%	3.06×	—	—	0.76×	62.63	62.55	-3.61%	395
FY 2026 Q1	Mar 31, 2026	13,886	156	13,730	1.55×	46.46%	3.07×	—	—	0.8×	63.03	62.93	-3.69%	421
FY 2025 Q4	Dec 31, 2025	14,229	459	13,770	1.59×	47.64%	3.12×	—	—	0.94×	63.76	63.39	-3.36%	631
FY 2025 Q3	Sep 30, 2025	14,148	512	13,636	1.57×	47.06%	3.06×	—	—	0.9×	64.28	64.16	-2.82%	618
FY 2025 Q2	Jun 30, 2025	13,385	548	12,837	1.48×	45.83%	2.88×	—	—	0.86×	64.95	64.9	-2.51%	431
FY 2025 Q1	Mar 31, 2025	12,922	542	12,380	1.47×	46.07%	2.77×	—	—	0.85×	65.44	65.34	-2.79%	289
FY 2024 Q4	Dec 31, 2024	13,406	457	12,949	1.55×	47.6%	2.88×	32.23×	—	0.98×	65.97	65.6	-2.99%	403
FY 2024 Q3	Sep 30, 2024	13,394	479	12,915	1.56×	47.14%	2.89×	15.95×	—	0.82×	66.19	66.02	-3.13%	377
FY 2024 Q2	Jun 30, 2024	12,889	467	12,422	1.56×	46.68%	2.8×	13.54×	—	0.81×	66.71	66.56	-3.14%	376
FY 2024 Q1	Mar 31, 2024	12,405	429	11,976	1.53×	46.53%	2.75×	10.82×	—	0.89×	67.42	67.21	-3.17%	415
FY 2023 Q4	Dec 31, 2023	11,518	363	11,155	1.42×	45.01%	2.62×	13.71×	—	0.81×	68.02	67.62	-2.58%	264
FY 2023 Q3	Sep 30, 2023	12,028	284	11,744	1.55×	46.56%	2.79×	83.53×	—	0.81×	68.26	68.15	-2.44%	252
FY 2023 Q2	Jun 30, 2023	11,937	227	11,710	1.61×	46.8%	2.92×	65.95×	—	0.74×	68.84	68.72	-3.51%	251
FY 2023 Q1	Mar 31, 2023	11,648	99	11,549	1.63×	47.29%	3.05×	25.16×	—	1.15×	69.75	69.41	-4.09%	303
FY 2022 Q4	Dec 31, 2022	11,370	106	11,264	1.61×	47.02%	3.13×	15.3×	—	1.11×	69.89	69.41	-4.23%	10
FY 2022 Q3	Sep 30, 2022	9,910	76	9,834	1.56×	46.27%	2.96×	21.36×	—	1.03×	70.05	69.85	-3.6%	239
FY 2022 Q2	Jun 30, 2022	9,821	68	9,753	1.62×	47.17%	3.16×	25.78×	—	1.07×	71.35	71.22	-1.7%	501
FY 2022 Q1	Mar 31, 2022	9,488	101	9,387	1.56×	47.04%	3.29×	7.25×	—	0.77×	72.68	72.37	0.05%	318
FY 2021 Q4	Dec 31, 2021	9,685	144	9,541	1.62×	47.73%	3.6×	19.73×	—	0.83×	73.23	72.47	0.31%	1
FY 2021 Q3	Sep 30, 2021	10,104	320	9,784	1.84×	49.76%	4.05×	4.82×	—	0.8×	72.71	72.46	0.38%	1
FY 2021 Q2	Jun 30, 2021	10,160	336	9,824	1.99×	51.73%	4.3×	3.41×	—	0.85×	72.72	72.46	0.41%	2
FY 2021 Q1	Mar 31, 2021	9,082	278	8,804	1.91×	51.77%	4.02×	3.48×	—	1.09×	72.67	72.34	-2.3%	30
FY 2020 Q4	Dec 31, 2020	9,682	202	9,480	2.13×	54.19%	4.33×	3.93×	—	1.07×	72.72	72.25	-3.74%	5
FY 2020 Q3	Sep 30, 2020	10,051	174	9,877	2.42×	56.13%	4.34×	3.98×	—	0.9×	72.44	72.19	-5.88%	5
FY 2020 Q2	Jun 30, 2020	10,405	127	10,278	2.66×	58.13%	4.31×	3.89×	—	0.84×	72.28	72.16	-7.8%	0
FY 2020 Q1	Mar 31, 2020	11,597	513	11,084	3.19×	61.46%	4.36×	4.18×	—	1.11×	74.27	74.04	-6.75%	276
FY 2019 Q4	Dec 31, 2019	11,428	52	11,376	2.98×	60.24%	4.45×	4.07×	—	0.84×	75.54	75.06	-6.87%	206
FY 2019 Q3	Sep 30, 2019	11,664	60	11,604	3.2×	60.11%	4.6×	3.76×	—	0.71×	76.86	76.7	-6.86%	210
FY 2019 Q2	Jun 30, 2019	11,695	75	11,620	3.36×	61.4%	4.81×	4.51×	—	0.73×	78.47	78.26	-6.22%	211
FY 2019 Q1	Mar 31, 2019	11,606	52	11,554	3.44×	62.44%	4.98×	4.32×	—	0.77×	80.05	79.4	-5.76%	243
FY 2018 Q4	Dec 31, 2018	11,747	43	11,704	3.45×	64.78%	5.18×	4.4×	—	0.83×	81.51	80.6	-4.78%	211
FY 2018 Q3	Sep 30, 2018	10,078	65	10,013	3.02×	61.62%	4.69×	4.16×	—	0.81×	83.17	82.34	-2.74%	211
FY 2018 Q2	Jun 30, 2018	8,986	117	8,869	2.84×	59.48%	4.45×	3.75×	—	0.68×	84.2	83.46	-1.39%	169
FY 2018 Q1	Mar 31, 2018	9,138	278	8,860	2.99×	62.21%	4.17×	4.31×	—	0.97×	85.24	84.26	-0.24%	226
FY 2017 Q4	Dec 31, 2017	9,440	352	9,088	3.04×	62.81%	5.15×	4.47×	—	1.06×	85.82	84.64	0.33%	30
FY 2017 Q3	Sep 30, 2017	8,371	324	8,047	3.79×	60.91%	3.26×	4.24×	—	0.92×	85.59	84.66	-1.49%	2
FY 2017 Q2	Jun 30, 2017	8,215	338	7,877	4.22×	61.84%	2.94×	5.43×	—	0.85×	85.41	84.64	-3.93%	1
FY 2017 Q1	Mar 31, 2017	7,349	337	7,012	4.19×	62.16%	2.63×	8.8×	—	1×	85.38	84.46	-6.69%	23
FY 2016 Q4	Dec 31, 2016	7,790	312	7,478	4.73×	64.98%	2.81×	4.19×	—	1.15×	85.25	84.36	-9.02%	40
FY 2016 Q3	Sep 30, 2016	8,002	297	7,705	5.2×	65.19%	2.9×	8.59×	—	0.95×	86.45	85.95	-8.78%	152
FY 2016 Q2	Jun 30, 2016	7,841	265	7,576	5.22×	64.69%	2.81×	6.14×	—	0.84×	88.47	88.1	-8.85%	172
FY 2016 Q1	Mar 31, 2016	7,753	219	7,534	5.17×	65.79%	3.04×	4.26×	—	0.96×	90.94	90.51	-6.7%	164
FY 2015 Q4	Dec 31, 2015	8,162	179	7,983	5.53×	67.55%	2.89×	4.31×	—	1.05×	93.69	92.73	-6.51%	122
FY 2015 Q3	Sep 30, 2015	8,515	171	8,344	5.69×	67.59%	3.62×	4.78×	—	0.94×	95.19	94.21	-4.34%	166
FY 2015 Q2	Jun 30, 2015	8,410	200	8,210	5.8×	66.72%	4.03×	4.48×	—	0.91×	97.75	96.65	-0.37%	158
FY 2015 Q1	Mar 31, 2015	8,075	257	7,818	5.4×	65.75%	3.52×	4.38×	—	0.93×	99.07	97.01	1.87%	343
FY 2014 Q4	Dec 31, 2014	8,052	158	7,894	4.48×	64.59%	3.05×	4.79×	—	1.05×	103.66	99.19	6.32%	214
FY 2014 Q3	Sep 30, 2014	8,095	168	7,927	4.46×	64.85%	3.54×	4.54×	—	0.81×	104.08	98.49	5.62%	152
FY 2014 Q2	Jun 30, 2014	8,015	170	7,845	4.46×	64.29%	3.32×	4.97×	—	0.8×	105.59	97	3.31%	186
FY 2014 Q1	Mar 31, 2014	7,039	227	6,812	3.88×	62.59%	3.02×	4.56×	—	1.27×	106.42	95.23	2.05%	61
FY 2013 Q4	Dec 31, 2013	7,173	175	6,998	3.92×	63.87%	3.22×	4.96×	—	1.06×	106.35	93.3	0.62%	16
FY 2013 Q3	Sep 30, 2013	7,582	125	7,457	4.44×	65.57%	3.62×	6.07×	—	1×	105.55	93.24	0.76%	15
FY 2013 Q2	Jun 30, 2013	7,356	133	7,223	4.65×	64.95%	3.72×	6.23×	—	0.86×	106.72	93.9	12.81%	54
FY 2013 Q1	Mar 31, 2013	7,147	147	7,000	4.56×	65.44%	4.15×	8.92×	—	0.96×	106.38	93.31	47.8%	30
FY 2012 Q4	Dec 31, 2012	7,309	106	7,203	4.74×	66.29%	4.84×	11.71×	—	0.99×	104.82	92.73	47.79%	3
FY 2012 Q3	Sep 30, 2012	7,375	68	7,307	4.93×	67.09%	5.97×	13.12×	—	0.73×	105.27	92.54	47.73%	13
FY 2012 Q2	Jun 30, 2012	7,289	41	7,248	5.23×	66.61%	7.2×	12.81×	—	0.72×	83.23	83.23	33.21%	107
FY 2012 Q1	Mar 31, 2012	5,961	26	5,935	66.23×	81.69%	6.24×	9.3×	—	0.63×	76.27	63.13	—	8
FY 2011 Q4	Dec 31, 2011	2,987	36	2,951	46.67×	72.1%	3.37×	5.22×	—	0.84×	73.1	62.74	—	0
FY 2011 Q3	Sep 30, 2011	2,930	26	2,904	209.29×	73.16%	—	—	—	0.75×	73.33	62.64	—	0
FY 2011 Q2	Jun 30, 2011	2,889	58	2,831	—	73.1%	—	—	—	0.8×	74.05	62.48	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · URI, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.