United Rentals (URI) FY2017 results: revenue $6.6 billion, up 15.3% on the year
United Rentals, Inc. (URI) reported revenue of $6.6 billion for fiscal 2017, the year ended 31 December 2017, up 15.3% on the year before. Net income was $1.3 billion, up 137.8%, and diluted earnings per share $15.73. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2019.
Revenue
$6.6 billion
+15.3% on the year
FY2010FY2017
Operating margin
22.7%
24.6% a year earlier
FY2010FY2017
Net income
$1.3 billion
+137.8% on the year
FY2010FY2017
Diluted EPS
$15.73
+143.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,641
5,762
5,817
+15.3%
Cost of revenue
3,872
3,359
3,337
+15.3%
Gross profit
2,769
2,403
2,480
+15.2%
Gross margin
41.7%
41.7%
42.6%
Selling, general and administrative
903
719
714
+25.6%
Operating income
1,507
1,415
1,518
+6.5%
Operating margin
22.7%
24.6%
26.1%
Pre-tax income
1,048
909
963
+15.3%
Income tax
-298
343
378
Effective tax rate
-28.4%
37.7%
39.3%
Net income
1,346
566
585
+137.8%
Net margin
20.3%
9.8%
10.1%
Diluted EPS
$15.73
$6.45
$6.07
+143.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,209
1,941
1,995
+13.8%
Capital expenditure
120
93.0
102
+29.0%
Free cash flow
2,089
1,848
1,893
+13.0%
Free cash flow margin
31.5%
32.1%
32.5%
Cash from investing
-3,684
-847
-1,170
Cash from financing
1,497
-964
-775
Depreciation and amortisation
259
1,245
1,244
-79.2%
Share-based compensation
87.0
45.0
49.0
+93.3%
Buybacks
56.0
528
789
-89.4%
Diluted shares, weighted
86m
88m
96m
-2.5%
Shares outstanding at period end
84m
84m
92m
+0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,106
1,648
1,476
+88.5%
Redeemable equity
n/a
n/a
0.0
Debt
9,516
7,843
8,206
+21.3%
Other liabilities
2,408
2,497
2,401
-3.6%
Total liabilities and equity
15,030
11,988
12,083
+25.4%
Fixed assets
467
430
n/a
+8.6%
Goodwill
4,082
3,260
3,243
+25.2%
Intangible assets
875
742
905
+17.9%
Cash and equivalents
352
312
179
+12.8%
Receivables
1,233
920
930
+34.0%
Inventory
75.0
68.0
69.0
+10.3%
Other assets
7,946
6,256
6,757
+27.0%
Total assets
15,030
11,988
12,083
+25.4%
10-K for the year ended 31 December 2017, filed 23 January 2019: the filing.