United Rentals (URI) FY2015 results: revenue $5.8 billion, up 2.3% on the year
United Rentals, Inc. (URI) reported revenue of $5.8 billion for fiscal 2015, the year ended 31 December 2015, up 2.3% on the year before. Net income was $585 million, up 8.3%, and diluted earnings per share $6.07. The figures are the company's own, from the 10-K it filed with the SEC on 27 January 2016.
Revenue
$5.8 billion
+2.3% on the year
FY2009FY2015
Operating margin
26.1%
24.5% a year earlier
FY2009FY2015
Net income
$585 million
+8.3% on the year
FY2009FY2015
Diluted EPS
$6.07
+17.9% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,817
5,685
4,955
+2.3%
Cost of revenue
3,337
3,253
2,968
+2.6%
Gross profit
2,480
2,432
1,987
+2.0%
Gross margin
42.6%
42.8%
40.1%
Selling, general and administrative
714
758
642
-5.8%
Operating income
1,518
1,391
1,078
+9.1%
Operating margin
26.1%
24.5%
21.8%
Pre-tax income
963
850
605
+13.3%
Income tax
378
310
218
+21.9%
Effective tax rate
39.3%
36.5%
36.0%
Net income
585
540
387
+8.3%
Net margin
10.1%
9.5%
7.8%
Diluted EPS
$6.07
$5.15
$3.64
+17.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,995
1,801
1,551
+10.8%
Capital expenditure
102
120
104
-15.0%
Free cash flow
1,893
1,681
1,447
+12.6%
Free cash flow margin
32.5%
29.6%
29.2%
Cash from investing
-1,170
-2,000
-1,177
Cash from financing
-775
196
-295
Depreciation and amortisation
1,244
1,194
1,098
+4.2%
Share-based compensation
49.0
74.0
46.0
-33.8%
Buybacks
789
613
115
+28.7%
Diluted shares, weighted
96m
105m
106m
-8.2%
Shares outstanding at period end
92m
98m
93m
-6.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,476
1,796
1,828
-17.8%
Redeemable equity
0.0
2.0
20.0
Debt
8,206
7,992
7,173
+2.7%
Other liabilities
2,401
2,339
1,855
+2.7%
Total liabilities and equity
12,083
12,129
10,876
-0.4%
Fixed assets
n/a
n/a
421
Goodwill
3,243
3,272
2,953
-0.9%
Intangible assets
905
1,106
1,018
-18.2%
Cash and equivalents
179
158
175
+13.3%
Receivables
930
940
804
-1.1%
Inventory
69.0
78.0
70.0
-11.5%
Other assets
6,757
6,575
5,435
+2.8%
Total assets
12,083
12,129
10,876
-0.4%
10-K for the year ended 31 December 2015, filed 27 January 2016: the filing.