Stock Analysis on Net
Stock Analysis on Net

United Rentals Inc. (NYSE:URI)

This company has been moved to the archive! The financial data has not been updated since January 25, 2023.

Common-Size Balance Sheet: Assets 

United Rentals Inc., common-size consolidated balance sheet: assets

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 0.44 0.71 1.13 0.27 0.24
Accounts receivable, net 8.29 8.26 7.36 8.07 8.52
Inventory 0.96 0.81 0.70 0.63 0.60
Equipment 0.07 0.26 1.68 0.00 0.00
Insurance 0.13 0.14 0.10 0.06 0.00
Advertising reimbursements 0.10 0.10 0.06 0.14 0.00
Income taxes 0.97 0.01 0.02 0.27 0.00
Other 0.30 0.30 0.24 0.26 0.35
Prepaid expenses and other assets 1.58% 0.82% 2.10% 0.74% 0.35%
Current assets 11.26% 10.60% 11.29% 9.71% 9.71%
Rental equipment, net 54.90 52.04 48.72 51.59 52.94
Property and non-rental equipment, net 3.47 3.02 3.38 3.18 3.39
Property and equipment (rental and non-rental), net 58.37% 55.06% 52.10% 54.78% 56.33%
Goodwill 24.92 27.24 28.92 27.17 27.89
Other intangible assets, net 1.87 3.03 3.63 4.72 5.98
Operating lease right-of-use assets 3.39 3.86 3.85 3.53 0.00
Other long-term assets 0.19 0.21 0.21 0.10 0.09
Long-term assets 88.74% 89.40% 88.71% 90.29% 90.29%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets displayed a generally decreasing trend after an initial increase. It rose from 0.24% in 2018 to a peak of 1.13% in 2020, followed by declines to 0.71% in 2021 and 0.44% in 2022. This suggests a reduction in liquidity levels after 2020.
Accounts receivable, net
The percentage of accounts receivable relative to total assets decreased from 8.52% in 2018 to 7.36% in 2020 but then recovered to 8.29% by 2022, indicating a slight fluctuation but overall stability in receivables turnover or credit management over the period.
Inventory
Inventory as a percentage of total assets showed a steady increase each year, from 0.60% in 2018 to 0.96% in 2022, implying a gradual rise in stock holdings that may reflect preparation for demand or expansion in operations.
Equipment
Data for equipment percentage of total assets is limited, with values present only from 2020 onwards. The percentage declined noticeably from 1.68% in 2020 to 0.07% in 2022, pointing to a significant reduction or reclassification of equipment assets during this period.
Insurance
The insurance asset percentage showed a consistent but modest increase from 0.06% in 2019 to 0.14% in 2021, with a slight decrease to 0.13% in 2022. This could be indicative of changes in prepaid insurance or similar asset categories.
Advertising reimbursements
Advertising reimbursements fluctuated within a narrow range, starting at 0.14% in 2019, dropping to 0.06% in 2020, and stabilizing at 0.10% in both 2021 and 2022. This suggests relatively stable recognition or recovery of advertising-related assets.
Income taxes
Income taxes as a percentage of total assets exhibited volatility, starting at 0.27% in 2019, sharply dropping to 0.01% in 2021, but then increasing significantly to 0.97% in 2022. This variability may result from changes in deferred tax assets or liabilities or tax payment timing.
Other
The 'Other' asset category remained relatively stable, declining slightly from 0.35% in 2018 to 0.24% in 2020 and then increasing to 0.30% in the following two years, reflecting minor fluctuations within miscellaneous asset classifications.
Prepaid expenses and other assets
This category saw an increase from 0.35% in 2018 to 2.10% in 2020, followed by a decrease to 0.82% in 2021 and a rise again to 1.58% in 2022. The initial jump may indicate a buildup of prepaid items, with some reduction and partial recovery thereafter.
Current assets
Current assets as a percentage of total assets increased from 9.71% in 2018 and 2019 to 11.29% in 2020, followed by a slight return to around 10.6% in 2021 and increasing again to 11.26% in 2022. This overall upward trend reflects a modest growth in short-term asset holdings.
Rental equipment, net
Rental equipment, net, displayed a dip from 52.94% in 2018 to 48.72% in 2020 but then rose steadily to reach 54.90% in 2022. This suggests an expansion in the rental fleet or an increase in asset valuation after 2020.
Property and non-rental equipment, net
This asset classification showed minor fluctuations throughout the period, decreasing slightly from 3.39% in 2018 to 3.02% in 2021 before rising to 3.47% in 2022. These small variations suggest stability in such physical assets.
Property and equipment (rental and non-rental), net
Combining rental and non-rental property and equipment, the percentage declined from 56.33% in 2018 to 52.10% in 2020 but increased to 58.37% by 2022, reflecting a net asset growth after the 2020 dip possibly due to capital expenditures or asset revaluation.
Goodwill
Goodwill as a percentage of total assets gradually decreased from 27.89% in 2018 to 24.92% in 2022, indicating asset write-downs or changes in acquisition activity that impacted intangible goodwill.
Other intangible assets, net
Other intangible assets declined steadily from 5.98% in 2018 to 1.87% in 2022, reflecting amortization or divestment of intangible resources over time.
Operating lease right-of-use assets
First reported in 2019 at 3.53%, these assets showed slight increases through 2021, reaching 3.86%, then decreased to 3.39% in 2022. This pattern suggests initial recognition and stabilization, followed by a moderate reduction in lease-related asset balances.
Other long-term assets
Other long-term assets experienced a marginal increase from 0.09% in 2018 to a peak of 0.21% in 2020 and 2021 before a slight decline to 0.19% in 2022, indicating minor changes in this asset grouping.
Long-term assets
The overall share of long-term assets relative to total assets was stable though showing a mild downward trend from 90.29% in 2018 and 2019 to 88.74% in 2022. This slight decrease aligns with modest increases in current assets.
Total assets
As expected, total assets as a percentage of total assets remained constant at 100% for all years, serving as the base reference for all other asset percentages.