MG
McGrath RentCorp
MGRC—
McGrath RentCorp AI Insights
Informational only. Not investment advice.Snapshot
- PPE of 1.6B is 69% of total assets - asset-heavy rental model with 16.4% capex/revenue TTM drives FCF volatility[Property, Plant & Equipment]
- Operating margin TTM 25.0% vs industry median 22.2% with ROE 12.7% vs median 21.1% - efficient ops but below-average capital returns[Operating Margin]
- Goodwill 332M is 28% of equity - manageable impairment risk vs asset-light peers with 80%+ goodwill exposure[Goodwill]
Watch Triggers
- Capital Expenditure TTM: Exceeds 180M (20% of revenue) — Signals fleet refresh acceleration that compresses FCF below 30M
- Operating Margin TTM: Falls below 22% (industry median) — Margin premium erosion removes valuation support at 2.8x P/S
- Accounts Receivable: DSO exceeds 100 days (currently ~95 days) — Collection delays with 7M cash creates working capital strain
Bull Case
Operating margin 25% with EBITDA margin 36% (337M TTM) generates consistent cash despite asset intensity - 6.3x interest coverage provides debt capacity for growth
Operating Margin TTMEBITDA TTMInterest Expense TTM
Dividend yield 1.8% (1.92/share TTM) with 32% payout ratio and 38% 7yr avg signals sustainable shareholder returns with reinvestment flexibility
Dividends Paid Per Share TTMDividend Payout Ratio Avg 7yr
Bear Case
P/S ratio 2.8x vs industry median 1.3x - trading at 2.2x peer valuation despite below-median ROE of 12.7% vs 21.1%
P/S RatioROE TTM
Negative working capital -38M with minimal cash (7M) creates liquidity risk if rental demand drops during economic slowdown
Working CapitalCash and Equivalents
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
FCF margin compression likely as fleet refresh cycle accelerates capex from 16% to 20%+ of revenue
1-3ymed
- PPE at 1.6B requires ongoing maintenance capex
- Capex TTM -153M already 2.9x depreciation of 27M
- Rental fleet age drives replacement timing
FCF TTM 59M vs CFO 212M - 72% consumed by capexCapex/revenue 16.4% vs industry median 40%Depreciation only 2.9% of revenue TTM
Valuation Context
Caveats
Public Strategies Rankings
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MGRC Fundamentals
Real Estate and Rental and Leasing → Rental and Leasing Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$2.71B | — | ||
$3.26B | — | ||
18 | — | ||
$931.22M | +4.8% | — | |
$5.97 | +6.9% | — | |
25.0% | -1.7% | — | |
15.6% | -9.7% | — | |
$58.67M | +136.6% | — | |
0.13 | -9.7% | — | |
Beta 5Y (Monthly) | unknown | — |
MGRC Dividend History
104 dividends
2026
$0.485001/16/26$0.4850
2025
$1.930010/17/25$0.4850
07/17/25$0.4850
04/16/25$0.4850
01/17/25$0.4750
2024
$1.890010/17/24$0.4750
07/17/24$0.4750
04/15/24$0.4750
01/16/24$0.4650
2023
$1.850010/16/23$0.4650
07/14/23$0.4650
04/13/23$0.4650
01/13/23$0.4550
2022
$1.800010/14/22$0.4550
07/14/22$0.4550
04/13/22$0.4550
01/13/22$0.4350
2021
$1.725010/14/21$0.4350
07/15/21$0.4350
04/14/21$0.4350
01/14/21$0.4200
2020
$1.260010/15/20$0.4200
07/16/20$0.4200
04/14/20$0.4200
2019
$1.465010/16/19$0.3750
07/16/19$0.3750
04/12/19$0.3750
01/16/19$0.3400
2018
$1.280010/16/18$0.3400
07/16/18$0.3400
04/13/18$0.3400
01/16/18$0.2600
2017
$1.035010/16/17$0.2600
07/13/17$0.2600
04/11/17$0.2600
01/12/17$0.2550
2016
$1.015010/13/16$0.2550
07/13/16$0.2550
04/13/16$0.2550
01/13/16$0.2500
2015
$0.995010/14/15$0.2500
07/15/15$0.2500
04/14/15$0.2500
01/14/15$0.2450
2014
$0.975010/15/14$0.2450
07/15/14$0.2450
04/14/14$0.2450
01/15/14$0.2400
2013
$0.955010/17/13$0.2400
07/15/13$0.2400
04/12/13$0.2400
01/15/13$0.2350
2012
$0.935010/15/12$0.2350
07/13/12$0.2350
04/12/12$0.2350
01/12/12$0.2300
2011
$0.915010/13/11$0.2300
07/13/11$0.2300
04/13/11$0.2300
01/12/11$0.2250
2010
$0.895010/13/10$0.2250
07/14/10$0.2250
04/14/10$0.2250
01/13/10$0.2200
2009
$0.860010/14/09$0.2200
07/14/09$0.2200
04/14/09$0.2200
01/13/09$0.2000
2008
$0.780010/10/08$0.2000
07/14/08$0.2000
04/14/08$0.2000
01/11/08$0.1800
2007
$0.700010/11/07$0.1800
07/12/07$0.1800
04/12/07$0.1800
01/10/07$0.1600
2006
$0.620010/12/06$0.1600
07/12/06$0.1600
04/11/06$0.1600
01/11/06$0.1400
2005
$0.530010/12/05$0.1400
07/13/05$0.1400
04/13/05$0.1400
01/12/05$0.1100
2004
$0.430010/13/04$0.1100
07/13/04$0.1100
04/13/04$0.1100
01/13/04$0.1000
2003
$0.390010/10/03$0.1000
07/11/03$0.1000
04/11/03$0.1000
01/13/03$0.0900
2002
$0.340010/10/02$0.0900
07/11/02$0.0900
04/11/02$0.0800
01/11/02$0.0800
2001
$0.310010/11/01$0.0800
07/11/01$0.0800
04/10/01$0.0800
01/10/01$0.0700
2000
$0.270010/11/00$0.0700
07/12/00$0.0700
04/12/00$0.0700
01/12/00$0.0600
MGRC Stock Splits
1 stock split
03/28/050.5:1 split
MGRC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/23/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/19/25 | 12/31/24 | 10-K | |
10/24/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/21/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
05/04/23 | 03/31/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
08/03/21 | 06/30/21 | 10-Q | |
04/28/21 | 03/31/21 | 10-Q | |
02/23/21 | 12/31/20 | 10-K | |
10/29/20 | 09/30/20 | 10-Q | |
07/29/20 | 06/30/20 | 10-Q | |
04/29/20 | 03/31/20 | 10-Q | |
02/25/20 | 12/31/19 | 10-K | |
10/29/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
04/30/19 | 03/31/19 | 10-Q | |
02/26/19 | 12/31/18 | 10-K | |
10/30/18 | 09/30/18 | 10-Q | |
07/31/18 | 06/30/18 | 10-Q | |
05/01/18 | 03/31/18 | 10-Q | |
02/27/18 | 12/31/17 | 10-K | |
10/31/17 | 09/30/17 | 10-Q | |
08/02/17 | 06/30/17 | 10-Q | |
05/02/17 | 03/31/17 | 10-Q | |
02/28/17 | 12/31/16 | 10-K | |
11/01/16 | 09/30/16 | 10-Q | |
08/02/16 | 06/30/16 | 10-Q | |
05/03/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
10/29/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
10/29/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
04/30/14 | 03/31/14 | 10-Q | |
02/28/14 | 12/31/13 | 10-K | |
10/30/13 | 09/30/13 | 10-Q | |
07/31/13 | 06/30/13 | 10-Q | |
05/01/13 | 03/31/13 | 10-Q | |
02/22/13 | 12/31/12 | 10-K | |
11/01/12 | 09/30/12 | 10-Q | |
07/31/12 | 06/30/12 | 10-Q | |
05/03/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
08/04/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/25/11 | 12/31/10 | 10-K | |
11/01/10 | 09/30/10 | 10-Q | |
08/05/10 | 06/30/10 | 10-Q | |
05/06/10 | 03/31/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
11/05/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
05/07/09 | 03/31/09 | 10-Q | |
02/27/09 | 12/31/08 | 10-K | |
11/06/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
02/27/08 | 12/31/07 | 10-K | |
11/01/07 | 09/30/07 | 10-Q | |
08/02/07 | 06/30/07 | 10-Q | |
05/03/07 | 03/30/07 | Unknown | -- |
03/14/07 | 12/31/06 | 10-K | |
11/02/06 | 09/30/06 | 10-Q | |
08/03/06 | 06/30/06 | 10-Q | |
05/04/06 | 03/30/06 | Unknown | -- |
03/14/06 | 12/31/05 | 10-K | |
11/03/05 | 09/30/05 | 10-Q | |
08/04/05 | 06/30/05 | 10-Q | |
05/05/05 | 03/30/05 | Unknown | -- |
03/16/05 | 12/31/04 | 10-K | |
11/04/04 | 09/30/04 | 10-Q | |
08/05/04 | 06/30/04 | 10-Q | |
05/05/04 | 03/30/04 | Unknown | -- |
03/12/04 | 12/31/03 | 10-K | |
10/30/03 | 09/30/03 | 10-Q | |
07/31/03 | 06/30/03 | 10-Q | |
04/30/03 | 03/30/03 | Unknown | -- |
03/26/03 | 12/31/02 | 10-K | |
10/23/02 | 09/30/02 | 10-Q | |
08/08/02 | 06/30/02 | 10-Q | |
05/14/02 | 03/30/02 | Unknown | -- |
03/19/02 | 12/31/01 | 10-K | |
11/09/01 | 09/30/01 | 10-Q | |
08/08/01 | 06/30/01 | 10-Q | |
05/09/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | 10-K | |
11/09/00 | 09/30/00 | 10-Q | |
08/09/00 | 06/30/00 | 10-Q | |
05/12/00 | 03/30/00 | Unknown | -- |