UNITED RENTALS, INC. Earnings Per Share Disclosure
Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
| Net income available to common stockholders | $ | 2,494 | $ | 2,575 | $ | 2,424 | |||||||||||
| Denominator: | |||||||||||||||||
| Denominator for basic earnings per share—weighted-average common shares | 64,439 | 66,345 | 68,470 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Employee stock options | 1 | 2 | 4 | ||||||||||||||
| Restricted stock units | 164 | 220 | 236 | ||||||||||||||
| Denominator for diluted earnings per share—adjusted weighted-average common shares | 64,604 | 66,567 | 68,710 | ||||||||||||||
| Basic earnings per share | $ | 38.71 | $ | 38.82 | $ | 35.40 | |||||||||||
| Diluted earnings per share | $ | 38.61 | $ | 38.69 | $ | 35.28 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jan 28, 2026 | Showing above |
| 2024 | Jan 29, 2025 | |
| 2023 | Jan 24, 2024 | |
| 2022 | Jan 25, 2023 | |
| 2021 | Jan 26, 2022 | |
| 2020 | Jan 27, 2021 | |
| 2019 | Jan 29, 2020 | |
| 2018 | Jan 23, 2019 | |
| 2017 | Jan 24, 2018 | |
| 2016 | Jan 25, 2017 | |
| 2015 | Jan 27, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.