United Rentals Inc (URI)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—
Total assets	US$ in thousands	25,589,000	24,183,000	20,292,000	17,868,000	18,970,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $25,589,000K
= 0.00

The debt-to-assets ratios for United Rentals, Inc. have shown a declining trend over the past five years, indicating an improving financial position in terms of leverage. In 2019, the ratio was 0.60, and it has decreased each year, reaching 0.45 in 2023. This implies that the company's total debt relative to its total assets has been decreasing, which can be viewed positively by creditors and investors, as it suggests a lower risk of insolvency. Overall, the decreasing trend in the debt-to-assets ratio reflects a favorable management of the company's debt and assets over the past five years.