United Rentals, Inc: Takeaways from URI Tech Day

Research evidence excerpt

United Rentals, Inc: Takeaways from URI Tech Day

Global Research

24 June 2026ab

First Read

EquitiesUnited Rentals, Inc

Takeaways from URI Tech Day United States

Consumer Services

12-month rating Buy

URI continues to add internal and external tools to its tech stack

URI gave a presentation on its digital, AI, and other technology tools and offerings. 12m price target US$1,145.00

We came away with a better view of how their digital and technology tools have

evolved in recent years and a sense of where they are going in the near to medium

Price (24 Jun 2026) US$1,083.72

term. We also have seen how AI has been incorporated into the technology

offerings that they have been developing for a decade+. They have clearly RIC: URI.N BBG: URI US

expanded the breadth of technology implementations and applications over the Trading data and key metrics

last few years, with integration of tech in workflows across internal training and

52-wk range US$1,094.17-710.47

operations, sales processes, as well as project site operations.

Market cap. US$67.9b

Our take: URI continues to build competitive advantage, enhance efficiency, Shares o/s 62.6m (COM)

and support margins Free float 75%

URI’s scale has long enabled the company to invest in technology that Avg. daily volume ('000) 143

differentiates URI vs. the industry, and we think URI continues to leverage that Avg. daily value (m) US$133.9

scale to build its competitive advantage. Technology now touches more of their Common s/h equity (12/26E) US$9.36b

business internally and takes sales efficiency to higher levels. We think further P/BV (12/26E) 7.2x

development of tools is going to happen at an accelerating pace. URI tech is also Net debt to EBITDA (12/26E) 1.8x

now increasingly embedded in larger customer systems, supporting sustained