Industrials · Rental & Leasing Services
Price
$122.37
Market Cap
$3.0B
Employees
1,219
Beta
0.44
Avg Volume
222,924
CEO
Philip Hawkins
Business Description
McGrath RentCorp (MGRC) operates as a diversified business-to-business provider of rental solutions, serving clients across the United States and internationally. Its primary offerings encompass a range of temporary infrastructure and specialized equipment, including versatile modular structures, portable storage units, advanced electronic testing apparatus, and various liquid and solid containment solutions. The company's operations are divided into four distinct segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. Mobile Modular specializes in the rental and sale of adaptable modular buildings and portable storage containers. These structures cater to diverse applications such as educational facilities, temporary workplaces, sales outposts, construction site offices, healthcare clinics, and more. TRS-RenTelco focuses on providing (renting and selling) advanced electronic test and measurement equipment. This includes general-purpose instruments like oscilloscopes, amplifiers, and analyzers, primarily catering to the aerospace, defense, electronics, industrial, research, and semiconductor sectors. Additionally, it supplies specialized communication test gear for fiber, copper, and wireless networks, serving equipment manufacturers, installation contractors, field technicians, and communication service providers. Adler Tanks offers rental solutions for various containment needs. Its inventory comprises robust fixed-axle steel tanks for liquids such as groundwater, wastewater, hazardous organic compounds, sewage, and chemical mixtures. The segment also supplies vacuum containers for sludges and solids, dewatering boxes designed to separate liquids from sludge and slurry, and roll-off/trash containers for the interim storage and transport of solid waste. Enviroplex stands out by manufacturing and directly selling portable classroom facilities. Its clientele primarily consists of public school districts and other educational bodies within California. Established in 1979, McGrath RentCorp maintains its headquarters in Livermore, California.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
19.27
Stock Price: $122.37
EPS (Diluted): 6.35
EPS (Diluted): 6.35
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.09
Stock Price: $122.37
Total Equity: $1.24B
Shares: 24,633,000
Total Equity: $1.24B
Shares: 24,633,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
8.86
Market Cap: $3.01B
Total Debt: $527.80M
Cash: $295,000
EBITDA: $350.77M
Total Debt: $527.80M
Cash: $295,000
EBITDA: $350.77M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$3.1B
Market Cap: $3.01B
Total Debt: $527.80M
Cash: $295,000
Total Debt: $527.80M
Cash: $295,000
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
46.1%
Gross Profit: $434.84M
Revenue: $944.24M
Revenue: $944.24M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
25.9%
Operating Income: $244.09M
Revenue: $944.24M
Revenue: $944.24M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
16.6%
Net Income: $156.31M
Revenue: $944.24M
Revenue: $944.24M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
12.6%
Net Income: $156.31M
Total Equity: $1.24B
Total Equity: $1.24B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
10.1%
Operating Income: $244.09M
Tax Rate: 26.6%
Equity: $1.24B
Total Debt: $527.80M
Cash: $295,000
Tax Rate: 26.6%
Equity: $1.24B
Total Debt: $527.80M
Cash: $295,000
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.36
Current Assets: $240.19M
Current Liabilities: $176.83M
Current Liabilities: $176.83M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.43
Short-Term Debt: $12.87M
Long-Term Debt: $514.92M
Total Debt: $527.80M
Total Equity: $1.24B
Long-Term Debt: $514.92M
Total Debt: $527.80M
Total Equity: $1.24B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$38.33
Revenue: $944.24M
Shares: 24,633,000
Shares: 24,633,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$50.22
Total Equity: $1.24B
Shares: 24,633,000
Shares: 24,633,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$8.58
Operating CF: $255.68M
CapEx: -$44.38M
Shares: 24,633,000
CapEx: -$44.38M
Shares: 24,633,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.9%
Last Dividend: N/A
Stock Price: $122.37
Stock Price: $122.37
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $156.31M
Net Income: $156.31M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MGRC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $616.8M | $635.7M | $831.8M | $910.9M | $944.2M |
| Cost of Revenue | $350.6M | $376.4M | $438.2M | $475.5M | $509.4M |
| Gross Profit | $266.2M | $259.3M | $393.6M | $435.4M | $434.8M |
| Operating Expenses | $133.8M | $107.9M | $203.9M | $191.2M | $190.8M |
| Operating Income | $132.4M | $151.3M | $189.7M | $244.3M | $244.1M |
| Net Income | $89.7M | $115.1M | $174.6M | $231.7M | $156.3M |
| EBITDA | $238.9M | $258.3M | $299.4M | $468.3M | $350.8M |
| EPS | $3.70 | $4.73 | $7.14 | $9.44 | $6.35 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.5M | $957,000 | $877,000 | $807,000 | $295,000 |
| Total Current Assets | $161.0M | $170.9M | $228.2M | $234.5M | $240.2M |
| Total Assets | $1.6B | $1.7B | $2.3B | $2.3B | $2.4B |
| Current Liabilities | $136.3M | $151.2M | $167.5M | $174.0M | $176.8M |
| Long-Term Debt | $426.5M | $413.7M | $763.0M | $590.2M | $514.9M |
| Total Liabilities | $878.2M | $903.9M | $1.3B | $1.2B | $1.1B |
| Total Equity | $732.0M | $803.9M | $933.8M | $1.1B | $1.2B |
| Retained Earnings | $623.5M | $693.9M | $822.8M | $1.0B | $1.1B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:56pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $195.7M | $194.4M | $95.3M | $374.4M | $255.7M |
| Capital Expenditure | -$116.8M | -$205.3M | -$273.7M | -$40.2M | -$44.4M |
| Free Cash Flow | $78.9M | -$10.9M | -$178.3M | $334.1M | $211.3M |
| Acquisitions (net) | -$283.1M | $73.9M | -$462.1M | $80.7M | -$23.8M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | -$4.4M | $0 |
| Net Change in Cash | $253,000 | $-534,000 | $-80,000 | $-70,000 | $-512,000 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 3:15pm (17h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$914.1M $912.2M – $916.0M
|
$941.8M $936.5M – $947.1M
|
$966.5M $961.1M – $972.4M
|
$1.0B $999.2M – $1.0B
|
| EBITDA |
$381.0M $380.2M – $381.8M
|
$392.5M $390.3M – $394.7M
|
$402.8M $400.5M – $405.2M
|
$419.8M $416.4M – $424.0M
|
| Net Income |
$130.1M $128.6M – $131.6M
|
$148.6M $147.1M – $150.1M
|
$156.2M $155.4M – $158.6M
|
$173.3M $171.1M – $174.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:56pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +3.1% | +30.9% | +9.5% | +3.7% |
| Gross Profit Growth | -2.6% | +51.8% | +10.6% | -0.1% |
| Operating Income Growth | +14.3% | +25.3% | +28.8% | -0.1% |
| Net Income Growth | +28.4% | +51.7% | +32.7% | -32.5% |
| EBITDA Growth | +8.1% | +15.9% | +56.4% | -25.1% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:56pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-07-17 | $0.50 | 2026-06-03 | 2026-07-17 | 2026-07-31 |
| 2026-04-16 | $0.50 | 2026-02-25 | 2026-04-16 | 2026-04-30 |
| 2026-01-16 | $0.49 | 2025-12-12 | 2026-01-16 | 2026-01-30 |
| 2025-10-17 | $0.49 | 2025-09-19 | 2025-10-17 | 2025-10-31 |
| 2025-07-17 | $0.49 | 2025-06-04 | 2025-07-17 | 2025-07-31 |
| 2025-04-16 | $0.49 | 2025-02-19 | 2025-04-16 | 2025-04-30 |
| 2025-01-17 | $0.48 | 2024-12-12 | 2025-01-17 | 2025-01-31 |
| 2024-10-17 | $0.48 | 2024-09-09 | 2024-10-17 | 2024-10-31 |
| 2024-07-17 | $0.48 | 2024-06-05 | 2024-07-17 | 2024-07-31 |
| 2024-04-15 | $0.48 | 2024-02-21 | 2024-04-16 | 2024-04-30 |
| 2024-01-16 | $0.47 | 2023-12-07 | 2024-01-17 | 2024-01-31 |
| 2023-10-16 | $0.47 | 2023-09-15 | 2023-10-17 | 2023-10-31 |
| 2023-07-14 | $0.47 | 2023-06-07 | 2023-07-17 | 2023-07-31 |
| 2023-04-13 | $0.47 | 2023-02-22 | 2023-04-14 | 2023-04-28 |
| 2023-01-13 | $0.46 | 2022-12-08 | 2023-01-17 | 2023-01-31 |
| 2022-10-14 | $0.46 | 2022-09-15 | 2022-10-17 | 2022-10-31 |
| 2022-07-14 | $0.46 | 2022-06-08 | 2022-07-15 | 2022-07-29 |
| 2022-04-13 | $0.46 | 2022-02-23 | 2022-04-15 | 2022-04-29 |
| 2022-01-13 | $0.44 | 2021-12-09 | 2022-01-17 | 2022-01-31 |
| 2021-10-14 | $0.44 | 2021-09-16 | 2021-10-15 | 2021-10-29 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MGRC — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30