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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
United Rentals has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for United Rentals's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of United Rentals was 9. The lowest was 4. And the median was 6.
The historical data trend for United Rentals's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
United Rentals Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 6.00 | 7.00 | 8.00 | 6.00 |
United Rentals Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 7.00 | 6.00 | 5.00 | 6.00 | 5.00 |
For the Rental & Leasing Services subindustry, United Rentals's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Business Services industry and Industrials sector, United Rentals's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where United Rentals's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Sep24) TTM: | Last Year (Sep23) TTM: |
Net Income was 679 + 542 + 636 + 708 = $2,565 Mil. Cash Flow from Operations was 1414 + 1029 + 1265 + 1204 = $4,912 Mil. Revenue was 3728 + 3485 + 3773 + 3992 = $14,978 Mil. Gross Profit was 1562 + 1346 + 1518 + 1648 = $6,074 Mil. Average Total Assets from the begining of this year (Sep23) to the end of this year (Sep24) was (25832 + 25589 + 26658 + 27613 + 28412) / 5 = $26820.8 Mil. Total Assets at the begining of this year (Sep23) was $25,832 Mil. Long-Term Debt & Capital Lease Obligation was $12,905 Mil. Total Current Assets was $3,321 Mil. Total Current Liabilities was $4,026 Mil. |
Net Income was 639 + 451 + 591 + 703 = $2,384 Mil. Revenue was 3296 + 3285 + 3554 + 3765 = $13,900 Mil. Gross Profit was 1488 + 1241 + 1425 + 1585 = $5,739 Mil. Average Total Assets from the begining of last year (Sep22) to the end of last year (Sep23) was (21419 + 24183 + 24629 + 25506 + 25832) / 5 = $24313.8 Mil. Total Assets at the begining of last year (Sep22) was $21,419 Mil. Long-Term Debt & Capital Lease Obligation was $11,470 Mil. Total Current Assets was $2,978 Mil. Total Current Liabilities was $3,673 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
United Rentals's current Net Income (TTM) was 2,565.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
United Rentals's current Cash Flow from Operations (TTM) was 4,912.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Sep23) |
= | 2565 | / | 25832 | |
= | 0.09929545 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep22) |
= | 2384 | / | 21419 | |
= | 0.11130305 |
United Rentals's return on assets of this year was 0.09929545. United Rentals's return on assets of last year was 0.11130305.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
United Rentals's current Net Income (TTM) was 2,565. United Rentals's current Cash Flow from Operations (TTM) was 4,912.
==> 4,912 > 2,565 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Sep24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep23 to Sep24 |
= | 12905 | / | 26820.8 | |
= | 0.48115642 |
Gearing (Last Year: Sep23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep22 to Sep23 |
= | 11470 | / | 24313.8 | |
= | 0.47174855 |
United Rentals's gearing of this year was 0.48115642. United Rentals's gearing of last year was 0.47174855.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Current Ratio (This Year: Sep24) | = | Total Current Assets | / | Total Current Liabilities |
= | 3321 | / | 4026 | |
= | 0.82488823 |
Current Ratio (Last Year: Sep23) | = | Total Current Assets | / | Total Current Liabilities |
= | 2978 | / | 3673 | |
= | 0.81078138 |
United Rentals's current ratio of this year was 0.82488823. United Rentals's current ratio of last year was 0.81078138.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
United Rentals's number of shares in issue this year was 66.185. United Rentals's number of shares in issue last year was 68.263.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 6074 | / | 14978 | |
= | 0.40552811 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 5739 | / | 13900 | |
= | 0.4128777 |
United Rentals's gross margin of this year was 0.40552811. United Rentals's gross margin of last year was 0.4128777.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Sep23) |
= | 14978 | / | 25832 | |
= | 0.57982347 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep22) |
= | 13900 | / | 21419 | |
= | 0.64895653 |
United Rentals's asset turnover of this year was 0.57982347. United Rentals's asset turnover of last year was 0.64895653.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 1 | + | 1 | + | 0 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | + | 0 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
United Rentals has an F-score of 5 indicating the company's financial situation is typical for a stable company.
United Rentals (NYSE:URI) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of United Rentals's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Joli L. Gross | officer: SVP, General Counsel | TWO AMERICAN LANE, GREENWICH CT 06831 |
Anthony S. Leopold | officer: SVP | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
Michael D Durand | officer: EVP, Chief Operating Officer | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
Matthew John Flannery | officer: Sr. Vice President- Operations | C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902 |
Craig Adam Pintoff | officer: Sr. V.P,, Gen. Counsel & H.R. | C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STE 700, STAMFORD CT 06902 |
William E. Grace | officer: VP, Interim CFO | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
Terri L. Kelly | director | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
Dale A Asplund | officer: Senior V.P.-Business Services | C/O BRIGHTVIEW HOLDINGS, INC., 980 JOLLY ROAD, SUITE 300, BLUE BELL PA 19422 |
Andrew B. Limoges | officer: VP, Controller | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
Jose B Alvarez | director | STOP & SHOP, 1385 HANCOCK STREET, QUINCY MA 02169 |
Francisco J Lopez-balboa | director | 3280 PEACHTREE ROAD, N.W., ATLANTA GA 30305 |
Jessica Graziano | officer: Vice President, Controller | C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902 |
Shiv Singh | director | C/O UNITED RENTALS, INC., 100 FIRST STAMFORD PLACE, SUITE 700, STAMFORD CT 06902 |
De Shon Larry D | director | 6 SYLVAN WAY, PARSIPPANY NJ 07054 |
Filippo Passerini | director | C/O UNITED RENTALS, INC, 100 FIRST STAMFORD PL, STAMFORD CT 06902 |
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