United Rentals Inc (URI)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	15,345,000	14,978,000	14,751,000	14,532,000	14,332,000	13,900,000	13,186,000	12,403,000	11,642,000	11,122,000	10,667,000	10,183,000	9,716,000	9,219,000	8,810,000	8,462,000	8,530,000	8,707,000	9,008,000	9,359,000
Total current assets	US$ in thousands	3,249,000	3,321,000	3,219,000	3,009,000	2,933,000	2,978,000	2,838,000	2,622,000	2,723,000	2,327,000	2,164,000	2,010,000	2,151,000	2,200,000	2,154,000	2,004,000	2,017,000	1,728,000	1,622,000	2,214,000
Total current liabilities	US$ in thousands	3,323,000	4,026,000	3,969,000	3,364,000	3,637,000	3,673,000	3,810,000	2,280,000	2,445,000	2,264,000	2,023,000	2,597,000	2,603,000	2,752,000	2,544,000	1,841,000	1,890,000	1,916,000	1,921,000	1,996,000
Working capital turnover		—	—	—	—	—	—	—	36.27	41.88	176.54	75.65	—	—	—	—	51.91	67.17	—	—	42.93

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $15,345,000K ÷ ($3,249,000K – $3,323,000K)
= —

United Rentals Inc's working capital turnover ratio provides insights into how efficiently the company is utilizing its working capital to generate sales revenue. Looking at the data provided, the working capital turnover ratio has shown fluctuations over the period.

- In March 2020, the working capital turnover was 42.93, indicating that the company generated $42.93 in sales revenue for every dollar of working capital invested.
- By December 2020, the ratio improved significantly to 67.17, suggesting a more efficient utilization of working capital to generate sales.
- However, in March 2021, the ratio decreased to 51.91, indicating a slight decline in efficiency compared to the previous period.
- The ratio remained stagnant in subsequent quarters and dropped to 41.88 by December 2022.
- Notably, in September 2022, there was a significant spike in the ratio to 176.54, highlighting a period of exceptionally efficient working capital utilization.
- The ratio decreased to 36.27 in March 2023 and remained low in the following quarters, indicating challenges in effectively utilizing working capital for generating sales revenue.

Overall, the working capital turnover ratio for United Rentals Inc has displayed volatility and fluctuation, suggesting varying levels of efficiency in converting working capital into sales revenue over the analyzed period.