United Rentals (URI) FY2016 results: revenue $5.8 billion, down 0.9% on the year
United Rentals, Inc. (URI) reported revenue of $5.8 billion for fiscal 2016, the year ended 31 December 2016, down 0.9% on the year before. Net income was $566 million, down 3.2%, and diluted earnings per share $6.45. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2019.
Revenue
$5.8 billion
-0.9% on the year
FY2009FY2016
Operating margin
24.6%
26.1% a year earlier
FY2009FY2016
Net income
$566 million
-3.2% on the year
FY2009FY2016
Diluted EPS
$6.45
+6.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,762
5,817
5,685
-0.9%
Cost of revenue
3,359
3,337
3,253
+0.7%
Gross profit
2,403
2,480
2,432
-3.1%
Gross margin
41.7%
42.6%
42.8%
Selling, general and administrative
719
714
758
+0.7%
Operating income
1,415
1,518
1,391
-6.8%
Operating margin
24.6%
26.1%
24.5%
Pre-tax income
909
963
850
-5.6%
Income tax
343
378
310
-9.3%
Effective tax rate
37.7%
39.3%
36.5%
Net income
566
585
540
-3.2%
Net margin
9.8%
10.1%
9.5%
Diluted EPS
$6.45
$6.07
$5.15
+6.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,941
1,995
1,801
-2.7%
Capital expenditure
93.0
102
120
-8.8%
Free cash flow
1,848
1,893
1,681
-2.4%
Free cash flow margin
32.1%
32.5%
29.6%
Cash from investing
-847
-1,170
-2,000
Cash from financing
-964
-775
196
Depreciation and amortisation
1,245
1,244
1,194
+0.1%
Share-based compensation
45.0
49.0
74.0
-8.2%
Buybacks
528
789
613
-33.1%
Diluted shares, weighted
88m
96m
105m
-8.9%
Shares outstanding at period end
84m
92m
98m
-8.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,648
1,476
1,796
+11.7%
Redeemable equity
n/a
0.0
2.0
Debt
7,843
8,206
7,992
-4.4%
Other liabilities
2,497
2,401
2,339
+4.0%
Total liabilities and equity
11,988
12,083
12,129
-0.8%
Fixed assets
430
n/a
n/a
Goodwill
3,260
3,243
3,272
+0.5%
Intangible assets
742
905
1,106
-18.0%
Cash and equivalents
312
179
158
+74.3%
Receivables
920
930
940
-1.1%
Inventory
68.0
69.0
78.0
-1.4%
Other assets
6,256
6,757
6,575
-7.4%
Total assets
11,988
12,083
12,129
-0.8%
10-K for the year ended 31 December 2016, filed 23 January 2019: the filing.