Intrinsic value of United Rentals - URI

Previous Close

$118.50

  Intrinsic Value

$229.20

stock screener

  Rating & Target

str. buy

+93%

Previous close

$118.50

 
Intrinsic value

$229.20

 
Up/down potential

+93%

 
Rating

str. buy

We calculate the intrinsic value of URI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.40
  17.06
  15.85
  14.77
  13.79
  12.91
  12.12
  11.41
  10.77
  10.19
  9.67
  9.21
  8.78
  8.41
  8.07
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.47
  6.32
  6.19
  6.07
  5.96
  5.87
  5.78
  5.70
  5.63
Revenue, $m
  7,863
  9,204
  10,664
  12,238
  13,926
  15,725
  17,631
  19,642
  21,757
  23,975
  26,294
  28,714
  31,236
  33,862
  36,593
  39,432
  42,383
  45,450
  48,636
  51,948
  55,392
  58,974
  62,701
  66,580
  70,621
  74,832
  79,221
  83,799
  88,577
  93,565
Variable operating expenses, $m
  5,837
  6,749
  7,740
  8,810
  9,957
  11,178
  12,473
  13,840
  15,277
  16,783
  17,863
  19,507
  21,221
  23,004
  24,860
  26,789
  28,793
  30,877
  33,041
  35,291
  37,631
  40,064
  42,596
  45,232
  47,977
  50,837
  53,819
  56,930
  60,175
  63,564
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,837
  6,749
  7,740
  8,810
  9,957
  11,178
  12,473
  13,840
  15,277
  16,783
  17,863
  19,507
  21,221
  23,004
  24,860
  26,789
  28,793
  30,877
  33,041
  35,291
  37,631
  40,064
  42,596
  45,232
  47,977
  50,837
  53,819
  56,930
  60,175
  63,564
Operating income, $m
  2,025
  2,456
  2,924
  3,428
  3,970
  4,546
  5,157
  5,802
  6,481
  7,192
  8,431
  9,207
  10,016
  10,858
  11,733
  12,644
  13,590
  14,573
  15,595
  16,657
  17,761
  18,910
  20,105
  21,349
  22,644
  23,994
  25,402
  26,870
  28,402
  30,001
EBITDA, $m
  3,856
  4,514
  5,230
  6,002
  6,830
  7,712
  8,646
  9,633
  10,670
  11,757
  12,895
  14,082
  15,319
  16,606
  17,946
  19,338
  20,785
  22,289
  23,852
  25,476
  27,165
  28,921
  30,749
  32,652
  34,633
  36,698
  38,851
  41,096
  43,439
  45,885
Interest expense (income), $m
  415
  510
  628
  758
  899
  1,052
  1,215
  1,389
  1,574
  1,769
  1,974
  2,189
  2,413
  2,648
  2,892
  3,147
  3,411
  3,686
  3,972
  4,269
  4,578
  4,899
  5,232
  5,579
  5,940
  6,316
  6,708
  7,116
  7,541
  7,985
  8,447
Earnings before tax, $m
  1,516
  1,828
  2,166
  2,529
  2,918
  3,331
  3,768
  4,228
  4,712
  5,218
  6,242
  6,794
  7,368
  7,966
  8,587
  9,233
  9,904
  10,601
  11,326
  12,079
  12,862
  13,677
  14,525
  15,408
  16,328
  17,286
  18,286
  19,329
  20,417
  21,553
Tax expense, $m
  409
  494
  585
  683
  788
  899
  1,017
  1,142
  1,272
  1,409
  1,685
  1,834
  1,989
  2,151
  2,318
  2,493
  2,674
  2,862
  3,058
  3,261
  3,473
  3,693
  3,922
  4,160
  4,409
  4,667
  4,937
  5,219
  5,513
  5,819
Net income, $m
  1,106
  1,334
  1,581
  1,847
  2,130
  2,432
  2,751
  3,087
  3,440
  3,809
  4,557
  4,959
  5,379
  5,815
  6,268
  6,740
  7,230
  7,739
  8,268
  8,818
  9,389
  9,984
  10,603
  11,248
  11,919
  12,619
  13,349
  14,110
  14,904
  15,734

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  17,789
  20,824
  24,126
  27,689
  31,508
  35,576
  39,888
  44,439
  49,225
  54,241
  59,488
  64,964
  70,670
  76,611
  82,790
  89,214
  95,890
  102,827
  110,037
  117,530
  125,321
  133,425
  141,857
  150,634
  159,776
  169,302
  179,233
  189,591
  200,400
  211,685
Adjusted assets (=assets-cash), $m
  17,789
  20,824
  24,126
  27,689
  31,508
  35,576
  39,888
  44,439
  49,225
  54,241
  59,488
  64,964
  70,670
  76,611
  82,790
  89,214
  95,890
  102,827
  110,037
  117,530
  125,321
  133,425
  141,857
  150,634
  159,776
  169,302
  179,233
  189,591
  200,400
  211,685
Revenue / Adjusted assets
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
  0.442
Average production assets, $m
  11,480
  13,438
  15,569
  17,868
  20,333
  22,958
  25,741
  28,678
  31,766
  35,003
  38,389
  41,922
  45,605
  49,439
  53,426
  57,571
  61,880
  66,356
  71,009
  75,845
  80,872
  86,102
  91,543
  97,207
  103,107
  109,254
  115,663
  122,347
  129,322
  136,605
Working capital, $m
  566
  663
  768
  881
  1,003
  1,132
  1,269
  1,414
  1,567
  1,726
  1,893
  2,067
  2,249
  2,438
  2,635
  2,839
  3,052
  3,272
  3,502
  3,740
  3,988
  4,246
  4,514
  4,794
  5,085
  5,388
  5,704
  6,034
  6,378
  6,737
Total debt, $m
  11,623
  14,030
  16,648
  19,473
  22,502
  25,728
  29,148
  32,756
  36,551
  40,529
  44,690
  49,032
  53,558
  58,269
  63,169
  68,263
  73,557
  79,058
  84,775
  90,717
  96,896
  103,322
  110,008
  116,969
  124,219
  131,773
  139,648
  147,862
  156,433
  165,382
Total liabilities, $m
  14,107
  16,514
  19,132
  21,957
  24,986
  28,212
  31,632
  35,240
  39,035
  43,013
  47,174
  51,516
  56,042
  60,753
  65,653
  70,747
  76,041
  81,542
  87,259
  93,201
  99,380
  105,806
  112,492
  119,453
  126,703
  134,257
  142,132
  150,346
  158,917
  167,866
Total equity, $m
  3,682
  4,311
  4,994
  5,732
  6,522
  7,364
  8,257
  9,199
  10,190
  11,228
  12,314
  13,447
  14,629
  15,858
  17,138
  18,467
  19,849
  21,285
  22,778
  24,329
  25,942
  27,619
  29,364
  31,181
  33,074
  35,046
  37,101
  39,245
  41,483
  43,819
Total liabilities and equity, $m
  17,789
  20,825
  24,126
  27,689
  31,508
  35,576
  39,889
  44,439
  49,225
  54,241
  59,488
  64,963
  70,671
  76,611
  82,791
  89,214
  95,890
  102,827
  110,037
  117,530
  125,322
  133,425
  141,856
  150,634
  159,777
  169,303
  179,233
  189,591
  200,400
  211,685
Debt-to-equity ratio
  3.160
  3.250
  3.330
  3.400
  3.450
  3.490
  3.530
  3.560
  3.590
  3.610
  3.630
  3.650
  3.660
  3.670
  3.690
  3.700
  3.710
  3.710
  3.720
  3.730
  3.740
  3.740
  3.750
  3.750
  3.760
  3.760
  3.760
  3.770
  3.770
  3.770
Adjusted equity ratio
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207
  0.207

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,106
  1,334
  1,581
  1,847
  2,130
  2,432
  2,751
  3,087
  3,440
  3,809
  4,557
  4,959
  5,379
  5,815
  6,268
  6,740
  7,230
  7,739
  8,268
  8,818
  9,389
  9,984
  10,603
  11,248
  11,919
  12,619
  13,349
  14,110
  14,904
  15,734
Depreciation, amort., depletion, $m
  1,831
  2,058
  2,306
  2,573
  2,860
  3,165
  3,489
  3,830
  4,189
  4,566
  4,464
  4,875
  5,303
  5,749
  6,212
  6,694
  7,195
  7,716
  8,257
  8,819
  9,404
  10,012
  10,645
  11,303
  11,989
  12,704
  13,449
  14,226
  15,037
  15,884
Funds from operations, $m
  2,937
  3,393
  3,887
  4,420
  4,990
  5,597
  6,240
  6,917
  7,629
  8,375
  9,021
  9,834
  10,682
  11,564
  12,481
  13,434
  14,425
  15,455
  16,525
  17,637
  18,793
  19,996
  21,248
  22,551
  23,908
  25,323
  26,798
  28,336
  29,942
  31,618
Change in working capital, $m
  88
  97
  105
  113
  122
  129
  137
  145
  152
  160
  167
  174
  182
  189
  197
  204
  212
  221
  229
  238
  248
  258
  268
  279
  291
  303
  316
  330
  344
  359
Cash from operations, $m
  2,849
  3,296
  3,782
  4,307
  4,869
  5,468
  6,102
  6,772
  7,477
  8,215
  8,854
  9,660
  10,500
  11,374
  12,284
  13,230
  14,213
  15,234
  16,295
  17,398
  18,545
  19,738
  20,980
  22,272
  23,618
  25,020
  26,482
  28,007
  29,598
  31,259
Maintenance CAPEX, $m
  -1,127
  -1,335
  -1,563
  -1,810
  -2,078
  -2,364
  -2,670
  -2,993
  -3,335
  -3,694
  -4,070
  -4,464
  -4,875
  -5,303
  -5,749
  -6,212
  -6,694
  -7,195
  -7,716
  -8,257
  -8,819
  -9,404
  -10,012
  -10,645
  -11,303
  -11,989
  -12,704
  -13,449
  -14,226
  -15,037
New CAPEX, $m
  -1,785
  -1,958
  -2,131
  -2,299
  -2,464
  -2,625
  -2,783
  -2,937
  -3,088
  -3,237
  -3,386
  -3,534
  -3,683
  -3,834
  -3,987
  -4,145
  -4,308
  -4,477
  -4,652
  -4,836
  -5,028
  -5,229
  -5,441
  -5,664
  -5,899
  -6,147
  -6,409
  -6,684
  -6,975
  -7,282
Cash from investing activities, $m
  -2,912
  -3,293
  -3,694
  -4,109
  -4,542
  -4,989
  -5,453
  -5,930
  -6,423
  -6,931
  -7,456
  -7,998
  -8,558
  -9,137
  -9,736
  -10,357
  -11,002
  -11,672
  -12,368
  -13,093
  -13,847
  -14,633
  -15,453
  -16,309
  -17,202
  -18,136
  -19,113
  -20,133
  -21,201
  -22,319
Free cash flow, $m
  -63
  3
  89
  197
  327
  478
  650
  842
  1,054
  1,284
  1,398
  1,662
  1,943
  2,238
  2,548
  2,872
  3,210
  3,562
  3,927
  4,306
  4,698
  5,105
  5,526
  5,963
  6,415
  6,883
  7,369
  7,873
  8,396
  8,939
Issuance/(repayment) of debt, $m
  2,183
  2,407
  2,618
  2,825
  3,028
  3,226
  3,420
  3,609
  3,795
  3,978
  4,160
  4,342
  4,525
  4,711
  4,900
  5,094
  5,294
  5,501
  5,717
  5,942
  6,178
  6,426
  6,687
  6,961
  7,249
  7,554
  7,875
  8,214
  8,572
  8,949
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,183
  2,407
  2,618
  2,825
  3,028
  3,226
  3,420
  3,609
  3,795
  3,978
  4,160
  4,342
  4,525
  4,711
  4,900
  5,094
  5,294
  5,501
  5,717
  5,942
  6,178
  6,426
  6,687
  6,961
  7,249
  7,554
  7,875
  8,214
  8,572
  8,949
Total cash flow (excl. dividends), $m
  2,120
  2,409
  2,707
  3,022
  3,355
  3,704
  4,070
  4,451
  4,849
  5,262
  5,558
  6,005
  6,468
  6,949
  7,448
  7,966
  8,504
  9,063
  9,644
  10,248
  10,877
  11,531
  12,213
  12,923
  13,664
  14,437
  15,244
  16,087
  16,968
  17,888
Retained Cash Flow (-), $m
  -576
  -628
  -683
  -738
  -790
  -842
  -893
  -942
  -991
  -1,038
  -1,086
  -1,134
  -1,181
  -1,230
  -1,279
  -1,330
  -1,382
  -1,436
  -1,492
  -1,551
  -1,613
  -1,677
  -1,745
  -1,817
  -1,892
  -1,972
  -2,056
  -2,144
  -2,237
  -2,336
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,543
  1,781
  2,024
  2,285
  2,564
  2,862
  3,177
  3,509
  3,858
  4,224
  4,472
  4,871
  5,287
  5,719
  6,169
  6,636
  7,122
  7,627
  8,152
  8,697
  9,264
  9,854
  10,468
  11,106
  11,772
  12,466
  13,189
  13,943
  14,730
  15,552
Discount rate, %
  9.30
  9.77
  10.25
  10.77
  11.30
  11.87
  12.46
  13.09
  13.74
  14.43
  15.15
  15.91
  16.70
  17.54
  18.41
  19.33
  20.30
  21.32
  22.38
  23.50
  24.68
  25.91
  27.20
  28.57
  29.99
  31.49
  33.07
  34.72
  36.46
  38.28
PV of cash for distribution, $m
  1,412
  1,478
  1,510
  1,518
  1,501
  1,460
  1,396
  1,312
  1,211
  1,098
  948
  829
  710
  596
  489
  392
  308
  235
  176
  128
  90
  62
  41
  27
  17
  10
  6
  3
  2
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

United Rentals, Inc. is a holding company. The Company is an equipment rental company, which operates throughout the United States and Canada. It operates through two segments: general rentals, and trench, power and pump. The general rentals segment includes the rental of construction, aerial, industrial and homeowner equipment and related services and activities. The trench, power and pump segment includes the rental of specialty construction products and related services. Its general rentals segment includes the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts, and general tools and light equipment, such as pressure washers, water pumps and power tools. As of January 1, 2017, it operated 887 rental locations. The Company conducts its operations through its subsidiary, United Rentals (North America), Inc. (URNA) and subsidiaries of URNA.

FINANCIAL RATIOS  of  United Rentals (URI)

Valuation Ratios
P/E Ratio 17.6
Price to Sales 1.7
Price to Book 6.1
Price to Tangible Book
Price to Cash Flow 5.1
Price to Free Cash Flow 16.3
Growth Rates
Sales Growth Rate -0.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -18.2%
Cap. Spend. - 3 Yr. Gr. Rate -4.5%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 436.5%
Total Debt to Equity 472.7%
Interest Coverage 3
Management Effectiveness
Return On Assets 6.8%
Ret/ On Assets - 3 Yr. Avg. 7%
Return On Total Capital 5.9%
Ret/ On T. Cap. - 3 Yr. Avg. 5.9%
Return On Equity 36.2%
Return On Equity - 3 Yr. Avg. 33.9%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 41.7%
Gross Margin - 3 Yr. Avg. 42.4%
EBITDA Margin 44.6%
EBITDA Margin - 3 Yr. Avg. 44.7%
Operating Margin 24.6%
Oper. Margin - 3 Yr. Avg. 25%
Pre-Tax Margin 15.8%
Pre-Tax Margin - 3 Yr. Avg. 15.8%
Net Profit Margin 9.8%
Net Profit Margin - 3 Yr. Avg. 9.8%
Effective Tax Rate 37.7%
Eff/ Tax Rate - 3 Yr. Avg. 37.8%
Payout Ratio 0%

URI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the URI stock intrinsic value calculation we used $6641 million for the last fiscal year's total revenue generated by United Rentals. The default revenue input number comes from 0001 income statement of United Rentals. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our URI stock valuation model: a) initial revenue growth rate of 18.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.3%, whose default value for URI is calculated based on our internal credit rating of United Rentals, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of United Rentals.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of URI stock the variable cost ratio is equal to 75.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for URI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for United Rentals.

Corporate tax rate of 27% is the nominal tax rate for United Rentals. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the URI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for URI are equal to 146%.

Life of production assets of 8.6 years is the average useful life of capital assets used in United Rentals operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for URI is equal to 7.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3106 million for United Rentals - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 82.748 million for United Rentals is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of United Rentals at the current share price and the inputted number of shares is $9.8 billion.

RELATED COMPANIES Price Int.Val. Rating
HRI Herc Holdings 37.42 23.17  str.sell

COMPANY NEWS

▶ United Rentals Releases Corporate Responsibility Report   [Nov-13-18 04:15PM  Business Wire]
▶ Final Trades: INTC, URI & more   [Nov-06-18 06:13PM  CNBC Videos]
▶ 45% of the S&P 500 is sitting in the bear's den   [Oct-25-18 05:49PM  CNBC Videos]
▶ Dollar-Cost Average in United Rentals   [Oct-22-18 04:10PM  GuruFocus.com]
▶ United Rentals Inc (NYSE:URI): The Best Of Both Worlds   [Oct-20-18 09:05AM  Simply Wall St.]
▶ United Rentals shares slide after earnings   [Oct-17-18 06:41PM  MarketWatch]
▶ United Rentals: 3Q Earnings Snapshot   [04:35PM  Associated Press]
▶ 5 Earnings Charts in the Spotlight   [Oct-16-18 04:46PM  Zacks]
▶ Top Ranked Growth Stocks to Buy for October 5th   [Oct-05-18 11:27AM  Zacks]
▶ Top Ranked Growth Stocks to Buy for October 4th   [Oct-04-18 10:37AM  Zacks]
▶ Stocks Slump as Trade Talks Cancelled   [Sep-25-18 09:15AM  Zacks]
▶ How To Invest: The Difference Between Fundamental And Technical Analysis   [Sep-24-18 09:00PM  Investor's Business Daily]
▶ United Rentals and GE climb while CBS and Apple drop   [Sep-10-18 04:52PM  Associated Press]
▶ [$$] Platinum Equity to Sell Equipment-Rental Company   [03:16PM  The Wall Street Journal]
▶ United Rentals Names Kim Harris Jones to Board of Directors   [Sep-04-18 08:30AM  Business Wire]
▶ 10 Best Stocks of the Bull Market   [Aug-21-18 04:02PM  Kiplinger]
▶ Longest bull market ever, how'd we get here?   [Aug-20-18 05:54PM  CNBC Videos]
▶ United Rentals Is Still Pointed Lower on the Charts   [Aug-17-18 02:19PM  TheStreet.com]
▶ Risk-Reward With United Rentals   [12:45PM  GuruFocus.com]

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