United Rentals, Inc. stock research
FY2025 Q1
United Rentals (URI) Gross Margin — Quarter Ended Mar 31, 2025
In the current quarter, gross profit exceeds revenue, while cost of revenue is higher than both, resulting in a gross margin above one hundred percent. Revenue and gross profit are lower than both the immediately preceding quarter and the same quarter one year earlier, while cost of revenue is lower than the prior quarter but higher than the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
In the current quarter, gross profit exceeds revenue, while cost of revenue is higher than both, resulting in a gross margin above one hundred percent. Revenue and gross profit are lower than both the immediately preceding quarter and the same quarter one year earlier, while cost of revenue is lower than the prior quarter but higher than the year-ago period.
- The strongest observable margin driver is the inverted relationship between gross profit and revenue, which produces a gross margin above one hundred percent. This pattern is a material departure from typical financial reporting conventions.
- The current quarter's gross margin is higher than both the prior quarter and the year-ago quarter, driven by the anomalous metric values. Revenue and gross profit are lower in both comparisons, while cost of revenue shows mixed trends.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
151.8%
Gross profit
$1.4B
Revenue
$893.0M
Cost of revenue
$2.4B
Quarter-over-quarter change
-36.7 pts
Year-over-year change
+113.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2024 | $3.5B | $1.3B | $2.1B | 38.6% |
| Jun 30, 2024 | -$1.8B | $1.5B | $2.3B | -84.8% |
| Sep 30, 2024 | $874.0M | $1.6B | $2.3B | 188.6% |
| Mar 31, 2025 | $893.0M | $1.4B | $2.4B | 151.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
-36.7 pts
Year-over-year change
Mar 31, 2024
+113.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the inverted relationship between gross profit and revenue, which produces a gross margin above one hundred percent. This pattern is a material departure from typical financial reporting conventions.
The current quarter's gross margin is higher than both the prior quarter and the year-ago quarter, driven by the anomalous metric values. Revenue and gross profit are lower in both comparisons, while cost of revenue shows mixed trends.
Monitor the consistency of the reported revenue, gross profit, and cost of revenue figures, as they do not follow standard accounting relationships.