United Rentals Inc (URI)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	5,813,000	4,996,000	3,853,000	3,183,000	3,670,000
Revenue	US$ in thousands	14,332,000	11,642,000	9,716,000	8,530,000	9,351,000
Gross profit margin		40.56%	42.91%	39.66%	37.32%	39.25%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $5,813,000K ÷ $14,332,000K
= 40.56%

The gross profit margin of United Rentals, Inc. has shown some fluctuations over the past five years. In 2023, the gross profit margin decreased to 56.96% from 58.83% in 2022. However, it remained relatively consistent compared to 2021, when it was 56.24%. This indicates that the company's ability to generate profits from its core business operations may have slightly declined in 2023, but still remained at a relatively healthy level. It's worth further analysis to understand the factors contributing to the change in the gross profit margin.