United Rentals Inc (URI)

Debt-to-assets ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	US$ in thousands	25,589,000	25,832,000	25,506,000	24,629,000	24,183,000	21,419,000	20,820,000	20,169,000	20,292,000	20,306,000	19,641,000	17,542,000	17,868,000	17,908,000	17,900,000	18,868,000	18,970,000	19,405,000	19,047,000	18,586,000
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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 ratio measures the proportion of a company's assets that are financed by debt. United Rentals, Inc.'s debt-to-assets ratio has remained relatively stable over the past eight quarters, fluctuating between 0.45 and 0.47. This indicates that, on average, 45% to 47% of the company's assets are financed by debt.

A consistent or improving debt-to-assets ratio can demonstrate a company's ability to efficiently manage its debt and leverage, which may be viewed positively by investors and creditors. However, a higher ratio suggests a greater reliance on debt financing, potentially increasing the company's financial risk and insolvency concerns.

United Rentals, Inc.'s debt-to-assets ratio appears to be within a reasonable range, showing a prudent balance between debt and assets. However, it is important to consider this ratio in conjunction with other financial metrics and industry benchmarks to gain a more comprehensive understanding of the company's financial leverage.