United Rentals (United Rentals) EBIT : $3,957 Mil (TTM As of Mar. 2024)

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What is United Rentals EBIT?

United Rentals's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $855 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $3,957 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. United Rentals's annualized ROC % for the quarter that ended in Mar. 2024 was 10.72%. United Rentals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 20.71%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. United Rentals's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 6.71%.

United Rentals EBIT Historical Data

The historical data trend for United Rentals's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

United Rentals EBIT Chart

United Rentals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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2,162.00

1,808.00

2,270.00

3,247.00

3,846.00

United Rentals Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															744.00	933.00	1,106.00	1,063.00	855.00

Competitive Comparison of United Rentals's EBIT

For the Rental & Leasing Services subindustry, United Rentals's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

United Rentals's EV-to-EBIT Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, United Rentals's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where United Rentals's EV-to-EBIT falls into.

United Rentals EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $3,957 Mil.

United Rentals (NYSE:URI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

United Rentals's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	3412 * ( 1 - 22.01% )	/	( (24924	+	24736)	/ 2 )
=	2661.0188	/	24830
=	10.72 %

where

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	25589	-	1369	-	( 363	-	max(0, 3637	-	2933	+	363	))
=	24924

	Invested Capital		(Q: Mar. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	26658	-	2277	-	( 429	-	max(0, 3364	-	3009	+	429	))
=	24736

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

United Rentals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3420	/	( ( (16003 + max(642, 0))	+	(16076 + max(303, 0)) )	/	2 )
=	3420	/	( ( 16645	+	16379 )	/	2 )
=	3420	/	16512
=	20.71 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2230	+	205	+	130)	-	(1369	+	138	+	416)
=	642

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2221	+	208	+	151)	-	(2277	+	0	+	0)
=	303

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

United Rentals's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	3957	/	58950.312
	=	6.71 %

United Rentals EBIT Related Terms

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United Rentals (United Rentals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » United Rentals Inc (NYSE:URI) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

UR3:Germany U1RI34:Brazil

Address

100 First Stamford Place, Suite 700, Stamford, CT, USA, 06902

Website

https://www.unitedrentals.com

United Rentals is the world's largest equipment rental company. It principally operates in the United States and Canada, where it commands approximately 17% share in a highly fragmented market. It serves three end markets: general industrial, commercial construction, and residential construction. Like its peers, United Rentals historically has provided its customers with equipment that was intermittently used, such as aerial equipment and portable generators. As the company has grown organically and through hundreds of acquisitions since it went public in 1997, its catalog (fleet size of $21 billion) now includes a range of specialty equipment and other items that can be rented for indefinitely long periods.

Executives

Terri L. Kelly	director	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
Michael D Durand	officer: EVP, Chief Operating Officer	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
Dale A Asplund	officer: Senior V.P.-Business Services	C/O BRIGHTVIEW HOLDINGS, INC., 980 JOLLY ROAD, SUITE 300, BLUE BELL PA 19422
Anthony S. Leopold	officer: SVP	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
Joli L. Gross	officer: SVP, General Counsel	TWO AMERICAN LANE, GREENWICH CT 06831
William E. Grace	officer: VP, Interim CFO	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
Matthew John Flannery	officer: Sr. Vice President- Operations	C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902
Craig Adam Pintoff	officer: Sr. V.P,, Gen. Counsel & H.R.	C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STE 700, STAMFORD CT 06902
Andrew B. Limoges	officer: VP, Controller	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
Jose B Alvarez	director	STOP & SHOP, 1385 HANCOCK STREET, QUINCY MA 02169
Francisco J Lopez-balboa	director	3280 PEACHTREE ROAD, N.W., ATLANTA GA 30305
Jessica Graziano	officer: Vice President, Controller	C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902
Shiv Singh	director	C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902
De Shon Larry D	director	6 SYLVAN WAY, PARSIPPANY NJ 07054
Filippo Passerini	director	C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902