McGrath RentCorp (MGRC)


Market Price (11/3/2026): $130.0 | Market Cap: $3.2 BilSector: Industrials | Industry: Diversified Support Services

McGrath RentCorp (MGRC)


Market Price (11/3/2026): $130.0
Market Cap: $3.2 Bil
Sector: Industrials
Industry: Diversified Support Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%

Low stock price volatility
Vol 12M is 28%

Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -13%, 3Y Excs Rtn is -41%

Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.3%

Key risks
MGRC key risks include [1] an over-reliance on its primary Mobile Modular segment for growth while other divisions face demand challenges, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%
3 Low stock price volatility
Vol 12M is 28%
4 Megatrend and thematic drivers
Megatrends include Water Infrastructure, and Renewable Energy Transition. Themes include Water Treatment & Delivery, Wastewater Management, Show more.
5 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
6 Weak multi-year price returns
2Y Excs Rtn is -13%, 3Y Excs Rtn is -41%
7 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.3%
8 Key risks
MGRC key risks include [1] an over-reliance on its primary Mobile Modular segment for growth while other divisions face demand challenges, Show more.

MGRC in ETFs

Weight = MGRC's share of each fund

VTI0.00%
ITOT0.00%
IWM0.10%
VIG0.01%
VYM0.01%
VB0.04%
NUSC0.23%
AVUV0.20%
+12 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/2/2026

McGrath RentCorp (MGRC) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Earnings Beat: McGrath RentCorp reported robust financial results for its fiscal third quarter ended September 30, 2026, surpassing analyst expectations. The company announced diluted earnings per share (EPS) of $2.00, beating the consensus estimate of $1.89 by $0.11. Additionally, revenue reached $274.61 million, exceeding the anticipated $273.25 million by $1.36 million, marking a 7% year-over-year increase in total revenue and a 16% rise in EPS.

2. Robust Performance in Key Rental Segments: The company experienced significant growth in its rental operations, particularly driven by strong demand in the TRS-RenTelco and Mobile Modular divisions during fiscal Q3 2026. TRS-RenTelco's rental revenue surged 26% year-over-year, largely benefiting from increased demand for projects supporting data center build-outs, with utilization reaching a 20-year high of 71.9% at quarter-end. Mobile Modular rental revenue increased 4%, supported by a rise in rental bookings and backlog, along with securing larger commercial projects in data center, manufacturing, and infrastructure sectors. Over 80% of year-to-date modular capital expenditures were deployed on contracts with initial average terms exceeding 30 months.

Show more
Updated on 11/2/2026

McGrath RentCorp (MGRC) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Earnings Beat: McGrath RentCorp reported robust financial results for its fiscal third quarter ended September 30, 2026, surpassing analyst expectations. The company announced diluted earnings per share (EPS) of $2.00, beating the consensus estimate of $1.89 by $0.11. Additionally, revenue reached $274.61 million, exceeding the anticipated $273.25 million by $1.36 million, marking a 7% year-over-year increase in total revenue and a 16% rise in EPS.

2. Robust Performance in Key Rental Segments: The company experienced significant growth in its rental operations, particularly driven by strong demand in the TRS-RenTelco and Mobile Modular divisions during fiscal Q3 2026. TRS-RenTelco's rental revenue surged 26% year-over-year, largely benefiting from increased demand for projects supporting data center build-outs, with utilization reaching a 20-year high of 71.9% at quarter-end. Mobile Modular rental revenue increased 4%, supported by a rise in rental bookings and backlog, along with securing larger commercial projects in data center, manufacturing, and infrastructure sectors. Over 80% of year-to-date modular capital expenditures were deployed on contracts with initial average terms exceeding 30 months.

3. Inclusion in the S&P SmallCap 600 Index: McGrath RentCorp was announced for inclusion in the S&P SmallCap 600 index, effective before market open on November 4, 2026. This index inclusion is a significant technical catalyst, often leading to increased institutional investment and trading volume as index funds adjust their portfolios to reflect the change.

4. Maintained Adjusted EBITDA Outlook and Increased Capital Expenditures for Rental Fleet: Management demonstrated confidence in future demand by maintaining the midpoint of its adjusted EBITDA guidance for fiscal year 2026, projecting between $365 million and $373 million. Simultaneously, the company increased its planned gross rental equipment capital expenditures for 2026 to a range of $270 million to $290 million, significantly up from an initial midpoint outlook of $190 million. This increase in capital allocation signals an expectation of continued rental growth, despite a slightly narrowed total revenue outlook of $945 million to $960 million for the year, primarily due to softer new modular equipment sales.

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Stock Movement Drivers

Fundamental Drivers

The 12.9% change in MGRC stock from 7/31/2026 to 11/2/2026 was primarily driven by a 8.0% change in the company's P/E Multiple.
(LTM values as of)731202611022026Change
Stock Price ($)114.65129.4412.9%
Change Contribution By: 
Total Revenues ($ Mil)9339511.9%
Net Income Margin (%)16.4%16.8%2.3%
P/E Multiple18.419.88.0%
Shares Outstanding (Mil)24240.3%
Cumulative Contribution12.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/2/2026
ReturnCorrelation
MGRC12.9% 
Market (SPY)0.7%17.2%
Sector (XLI)-5.6%51.7%

Fundamental Drivers

The 18.1% change in MGRC stock from 4/30/2026 to 11/2/2026 was primarily driven by a 14.0% change in the company's P/E Multiple.
(LTM values as of)430202611022026Change
Stock Price ($)109.62129.4418.1%
Change Contribution By: 
Total Revenues ($ Mil)9479510.4%
Net Income Margin (%)16.4%16.8%2.3%
P/E Multiple17.419.814.0%
Shares Outstanding (Mil)25240.8%
Cumulative Contribution18.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/2/2026
ReturnCorrelation
MGRC18.1% 
Market (SPY)4.9%14.6%
Sector (XLI)-2.6%41.8%

Fundamental Drivers

The 22.6% change in MGRC stock from 10/31/2025 to 11/2/2026 was primarily driven by a 11.0% change in the company's P/E Multiple.
(LTM values as of)1031202511022026Change
Stock Price ($)105.61129.4422.6%
Change Contribution By: 
Total Revenues ($ Mil)9319512.1%
Net Income Margin (%)15.6%16.8%7.3%
P/E Multiple17.919.811.0%
Shares Outstanding (Mil)25240.8%
Cumulative Contribution22.6%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/2/2026
ReturnCorrelation
MGRC22.6% 
Market (SPY)11.2%22.2%
Sector (XLI)10.4%33.0%

Fundamental Drivers

The 35.4% change in MGRC stock from 10/31/2023 to 11/2/2026 was primarily driven by a 54.4% change in the company's P/E Multiple.
(LTM values as of)1031202311022026Change
Stock Price ($)95.60129.4435.4%
Change Contribution By: 
Total Revenues ($ Mil)79395119.9%
Net Income Margin (%)23.0%16.8%-27.1%
P/E Multiple12.819.854.4%
Shares Outstanding (Mil)24240.3%
Cumulative Contribution35.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/2/2026
ReturnCorrelation
MGRC35.4% 
Market (SPY)86.0%39.4%
Sector (XLI)79.4%44.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MGRC Return22%26%24%-5%-5%25%116%
Peers Return85%1%26%10%-16%21%164%
S&P 500 Return27%-19%24%23%16%10%101%

Monthly Win Rates [3]
MGRC Win Rate75%58%67%42%42%55% 
Peers Win Rate69%53%53%56%47%61% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
MGRC Max Drawdown-21%-18%-19%-24%-25%-14% 
Peers Max Drawdown-18%-37%-35%-27%-48%-40% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: WSC, URI, HRI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)

How Low Can It Go

EventMGRCS&P 500
2025 US Tariff Shock
  % Loss-18.1%-18.8%
  % Gain to Breakeven22.1%23.1%
  Time to Breakeven108 days79 days
2023 SVB Regional Banking Crisis
  % Loss-19.4%-6.7%
  % Gain to Breakeven24.1%7.1%
  Time to Breakeven251 days31 days
2020 COVID-19 Crash
  % Loss-43.0%-33.7%
  % Gain to Breakeven75.6%50.9%
  Time to Breakeven329 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-12.4%-19.2%
  % Gain to Breakeven14.2%23.8%
  Time to Breakeven7 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-12.7%-12.2%
  % Gain to Breakeven14.5%13.9%
  Time to Breakeven21 days62 days
2014-2016 Oil Price Collapse
  % Loss-36.3%-6.8%
  % Gain to Breakeven57.0%7.3%
  Time to Breakeven286 days15 days

Compare to WSC, URI, HRI

In The Past

McGrath RentCorp's stock fell -18.1% during the 2025 US Tariff Shock. Such a loss loss requires a 22.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMGRCS&P 500
2020 COVID-19 Crash
  % Loss-43.0%-33.7%
  % Gain to Breakeven75.6%50.9%
  Time to Breakeven329 days140 days
2014-2016 Oil Price Collapse
  % Loss-36.3%-6.8%
  % Gain to Breakeven57.0%7.3%
  Time to Breakeven286 days15 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.1%-15.4%
  % Gain to Breakeven26.8%18.2%
  Time to Breakeven131 days125 days
2008-2009 Global Financial Crisis
  % Loss-52.1%-53.4%
  % Gain to Breakeven108.8%114.4%
  Time to Breakeven346 days1085 days

Compare to WSC, URI, HRI

In The Past

McGrath RentCorp's stock fell -18.1% during the 2025 US Tariff Shock. Such a loss loss requires a 22.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About McGrath RentCorp (MGRC)

McGrath RentCorp (MGRC) operates as a prominent business-to-business (B2B) rental and sales company, providing temporary and specialized equipment across a variety of industries. The company's core strategy involves renting and selling essential assets, addressing diverse needs ranging from temporary infrastructure to highly specialized technical instrumentation.

MGRC's offerings span several key segments. Its Mobile Modular division rents and sells relocatable modular buildings and portable storage containers, commonly used as temporary offices, classrooms, and construction facilities. The TRS-RenTelco segment specializes in renting and selling general purpose and communications electronic test equipment to industries such as aerospace, defense, electronics, and telecommunications. Additionally, the Adler Tanks segment provides fixed axle steel tanks, vacuum containers, and dewatering boxes for storing and managing various liquids and solids, serving environmental, industrial, and waste management applications. Finally, its Enviroplex segment manufactures and sells portable classrooms directly to educational institutions in California.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe McGrath RentCorp (MGRC):

  • The United Rentals of modular buildings, test equipment, and industrial tanks.
  • A business-to-business U-Haul for modular offices, test equipment, and industrial tanks.

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  • Relocatable Modular Buildings: Rented and sold for purposes such as temporary offices, classrooms, health care clinics, and other specialized uses.
  • Portable Storage Containers: Rented and sold for general storage needs.
  • Electronic Test Equipment: Rented and sold, covering general purpose equipment (e.g., oscilloscopes, analyzers) and communications test equipment.
  • Liquid and Solid Containment Tanks and Boxes: Rented, including steel tanks for liquids, vacuum containers for sludge, dewatering boxes, and roll-off/trash boxes for various materials.
  • Manufactured Portable Classrooms: Sold directly to public school districts and educational institutions, primarily in California.

AI Analysis | Feedback

McGrath RentCorp (MGRC) operates as a business-to-business (B2B) rental company. While specific names of customer companies are not provided in the background description, the company primarily serves other companies and institutions across several key sectors. Its major customer categories include:

  • Educational Institutions: This includes public school districts and other educational bodies, particularly in California, which rent or purchase modular classrooms and related facilities.
  • Construction and Industrial Businesses: Companies involved in construction, general industrial operations, and environmental services that require temporary office space, portable storage solutions, and specialized liquid and solid containment tanks and boxes.
  • Technology, Aerospace, Defense, and Telecommunications Industries: Manufacturers, contractors, field technicians, and service providers within sectors such as aerospace, defense, electronics, industrial, research, semiconductor, and communications, who rent or purchase electronic test equipment.

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Joseph F. Hanna President, Chief Executive Officer, and Director

Mr. Hanna currently serves as President, Chief Executive Officer, and Director of McGrath RentCorp, a position he has held since February 2017. He joined the company in 2003 and has held various leadership roles, including Chief Operating Officer from 2007 to 2017, Senior Vice President of Operations, and Vice President of Operations. Prior to joining McGrath RentCorp, Mr. Hanna held sales and operational leadership positions at SMC Corporation of America and served as an officer in the United States Army. He will retire as CEO on April 3, 2026, and will continue to serve as a director on the McGrath Board.

Philip B. Hawkins Executive Vice President, Chief Operating Officer (current); President and Chief Executive Officer (effective April 3, 2026)

Mr. Hawkins was appointed Executive Vice President and Chief Operating Officer of McGrath RentCorp in January 2025. He will succeed Joseph F. Hanna as President and Chief Executive Officer, effective April 3, 2026. Mr. Hawkins joined McGrath RentCorp in 2004 through the acquisition of TRS, an electronics equipment rental division of CIT Technologies Corporation, where he held the position of Senior Business Analyst. His tenure at McGrath has included roles such as Manager, Corporate Financial Planning and Analysis, Vice President and Division Manager of TRS-RenTelco, and Vice President and Division Manager of Mobile Modular. Before joining McGrath, he held leadership roles, including Director of Portfolio Management, at Dell Financial Services.

Keith E. Pratt Executive Vice President, Chief Financial Officer

Mr. Pratt serves as Executive Vice President and Chief Financial Officer of McGrath RentCorp. Prior to joining McGrath RentCorp, he was Senior Vice President and Chief Financial Officer at Advanced Fibre Communications (AFC), a public telecommunications equipment company, from 1999 until its acquisition by Tellabs, Inc. in late 2004. He also served as Director of Corporate Development at AFC from 1997 to 1999 and began his career as Director, Strategy & Business Development Group at Pacific Telesis Group, Inc.

Kristina Van Trease Senior Vice President, Chief Strategy Officer

Ms. Van Trease currently serves as Senior Vice President, Chief Strategy Officer, a role she has held since December 2023. She previously held the position of Senior Vice President, Strategy and Business Development from February 2022 through November 2023. From August 2016 through January 2022, she was Vice President and Division Manager of Adler Tank Rentals.

Gilda Malek Senior Vice President, Chief Legal Officer and Corporate Secretary

Ms. Malek was appointed Senior Vice President, Chief Legal Officer, and Corporate Secretary of McGrath RentCorp in January 2025. She joined the company in 2023 as Vice President, General Counsel, and Corporate Secretary. Before her time at McGrath RentCorp, Ms. Malek served as Deputy General Counsel at Confluent, a SaaS company.

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Key Risks to McGrath RentCorp (MGRC)

  1. Economic Sensitivity and Cyclical Demand: McGrath RentCorp's business segments, including Mobile Modular (relocatable modular buildings, portable storage containers), TRS-RenTelco (electronic test equipment), and Adler Tanks (liquid and solid containment tanks), are highly susceptible to overall economic conditions and cyclical downturns in end-user markets. A softer construction market, economic uncertainty, and higher interest rates can lead to reduced demand for rental and sales of modular buildings and portable storage, project delays, and decreased activity in industries reliant on test equipment and containment solutions.
  2. Concentration in Specific Industries and Geographic Markets: The company faces risks due to its reliance on particular sectors and regions. The Enviroplex segment, which manufactures and sells portable classrooms, is highly dependent on funding and policies of public school districts in California, making it vulnerable to state-level budget decisions and educational spending trends. Similarly, the TRS-RenTelco segment's performance is tied to the cyclical nature and capital expenditures of industries such as aerospace, defense, electronics, and semiconductors, which can experience periods of low demand.
  3. Technological Obsolescence of Electronic Test Equipment: The TRS-RenTelco segment is exposed to the risk of technological obsolescence. Rapid advancements in the electronics and semiconductor industries can cause existing electronic test equipment to become outdated, potentially reducing demand for McGrath RentCorp's rental fleet and requiring significant capital investment to acquire newer technologies to remain competitive.

AI Analysis | Feedback

The clear emerging threat for McGrath RentCorp stems from the ongoing shift towards **software-defined testing, virtualized test environments, and testing-as-a-service (TaaS) models** in the electronic test equipment industry. This trend directly impacts its TRS-RenTelco segment, which rents and sells general purpose and communications electronic test equipment.

As capabilities for testing become increasingly integrated into software, cloud platforms, or general-purpose computing devices, the reliance on specialized, dedicated physical hardware for various testing needs could diminish. This parallels historical disruptions where digital and software-based solutions have replaced the need for physical products or traditional service delivery models, potentially reducing the demand for physical test equipment rentals in the long term.

AI Analysis | Feedback

McGrath RentCorp operates in several distinct business-to-business rental markets across the United States and internationally. The addressable market sizes for its main products and services are outlined below:

Modular Buildings and Portable Classrooms

The U.S. modular construction market, which includes relocatable modular buildings and portable classrooms, was valued at approximately USD 20.3 billion in 2024 and is projected to reach USD 25.4 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.5%. The global modular construction market was valued at USD 105.24 billion in 2024 and is projected to reach USD 180.14 billion by 2032, expanding at a CAGR of 6.95%. Relocatable modular units, such as those offered by McGrath RentCorp, represent a segment of this broader market. Specifically, the global portable classrooms market size was valued at approximately USD 2.4 billion in 2023 and is forecasted to reach around USD 4.8 billion by 2032, with North America holding a significant share. In 2024, the U.S. modular construction market alone was approximately USD 11.23 billion.

Portable Storage Containers

The U.S. Portable Storage Container Rental Market was valued at USD 532.42 million in 2024 and is projected to reach USD 791.42 million by 2032, growing at a CAGR of 5.82%. The North American portable storage rental market, encompassing the United States and Canada, is projected to approach USD 5 billion by 2030. The global Portable Modular Storage Containers Market is expected to increase from USD 3.44 billion in 2026 to USD 5.39 billion by 2035.

Electronic Test Equipment Rental and Sales

The U.S. Renting and Leasing Test and Measurement Equipment Market was valued at USD 1.90 billion in 2024. Globally, this market was valued at USD 6.35 billion in 2023 and is expected to reach USD 9.61 billion by 2032, with a CAGR of 4.71%. Another estimate places the global market to reach USD 12.83 billion by 2035, with a CAGR of 9.8%.

Liquid and Solid Containment Tanks and Boxes

The global storage tank market size was valued at USD 28.04 billion in 2025 and is projected to grow to USD 49.89 billion by 2034, exhibiting a CAGR of 6.61%. North America holds a substantial portion, with approximately 30% of the global storage tank market share. The U.S. storage tank market was valued at USD 6.9 billion in 2025. In 2025, North America alone dominated the market share with over 42.06%. The global industrial storage tank market is estimated at USD 5,715.37 million in 2026 and is expected to reach USD 8,770.59 million by 2035.

AI Analysis | Feedback

McGrath RentCorp (MGRC) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  1. Expansion of Mobile Modular Rental and Related Services: The Mobile Modular division is a significant growth engine, with the company actively pursuing initiatives such as "Mobile Modular Plus" and "Site Related Services." These offerings have demonstrated increasing revenues and are considered a long-term growth opportunity for McGrath RentCorp.
  2. Recovery and Improved Demand in TRS-RenTelco: Following earlier softness, the TRS-RenTelco segment has shown a clear recovery with increased demand and utilization. Management anticipates continued market recovery in this segment, contributing to future revenue and Adjusted EBITDA growth.
  3. Pricing Optimization and Favorable Market Conditions: McGrath RentCorp has benefited from healthy market conditions and a focus on pricing optimization, leading to higher average monthly rental rates across its segments. This strategy is expected to continue contributing to revenue growth.
  4. Geographic Expansion of Modular Business: The company is strategically focused on geographic expansion, particularly within its Mobile Modular division. Planned capital expenditures for 2026 are partly allocated to this expansion, indicating a push into new regional markets.
  5. Growth in Modular Sales Projects: McGrath RentCorp has noted continued execution of its initiative to grow modular sales projects, which has led to increased sales revenues. This focus on expanding modular sales is a recognized contributor to overall revenue.

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Capital Allocation Decisions (Last 3-5 Years)

Share Issuance

  • The number of issued and outstanding shares slightly increased from 24,551 shares as of December 31, 2024, to 24,612 shares as of December 31, 2025.

Outbound Investments

  • McGrath RentCorp and WillScot Mobile Mini mutually agreed to terminate their previously announced merger agreement on September 18, 2024.
  • Following the termination, McGrath received a $180 million merger termination payment, which, after $63.2 million in transaction costs, resulted in net proceeds of $116.8 million for the year ended December 31, 2024.
  • The company maintains an active mergers and acquisitions (M&A) pipeline and is continuously seeking opportunities for strategic investments, particularly in new geographic areas.

Capital Expenditures

  • Gross rental equipment capital expenditures for the full year 2025 were $143 million.
  • McGrath RentCorp anticipates gross rental equipment capital expenditures to be between $180 million and $200 million for the full year 2026.
  • The primary focus for these capital expenditures is geographic expansion within the Mobile Modular business, along with investments in product areas in mature markets and strengthening the TRS-RenTelco business due to its growth outlook.

Better Bets vs. McGrath RentCorp (MGRC)

Peer Outperformance in Diversified Support Services

MGRC has outperformed 71% of its 31 Diversified Support Services peers over 5Y. Among the peers that beat it are OPLN and CTAS. Diversified Support Services ranks 8th of 23 industries in Industrials by median 5Y return.
Share of Diversified Support Services constituents that MGRC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
53%
of 36 industry peers · 22.6% return
3Y
42%
of 33 industry peers · 33.6% return
5Y
71%
of 31 industry peers · 91.1% return
Diversified Support Services peers with revenue growth within 4pp of MGRC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
MGRC McGrath RentCorp 6.3% 19.8x 22.6%33.6%91.1% —
OPLN Openlane 8.8% 22.6x 49.9%169.0%168.8% +78pp
CTAS Cintas 8.7% 43.6x 23.9%78.0%116.4% +25pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Diversified Support Services is MGRC's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Construction & Engineering 29 -8.2%92.7%152.3% STRL 1265% · FIX 1201% · AGX 751%
Marine Transportation 5 47.3%44.2%146.6% MATX 183% · KEX 151%
Construction Machinery & Heavy Transportation Equipment 13 16.0%61.2%102.0% ALSN 260% · WAB 224% · CAT 221%
Aerospace & Defense 52 -12.4%62.8%70.6% ATI 975% · FTAI 967% · HWM 604%
Trading Companies & Distributors 19 20.9%40.4%58.3% DXPE 413% · AIT 222% · URI 216%
Industrial Machinery & Supplies & Components 72 6.2%55.1%36.5% CRS 888% · MLI 337% · SYM 271%
Rail Transportation 7 33.9%56.1%34.2% CSX 55% · UNP 43% · NSC 34%
Diversified Support Services ← 32 21.0%43.3%33.6% CXW 240% · OPLN 169% · CACI 137%
Building Products 32 -6.2%13.0%24.0% GFF 368% · TT 141% · JCI 118%
Cargo Ground Transportation 16 33.6%10.8%9.9% R 273% · XPO 263% · ARCB 27%
Electrical Components & Equipment 37 -6.2%74.9%5.4% POWL 1808% · VRT 796% · BE 511%
Industrial Conglomerates 17 14.6%-0.6%-5.4% CSW 104% · CSL 81% · DD 67%
Office Services & Supplies 9 25.6%20.4%-11.2% PBI 174% · TILE 165% · HNI 55%
Data Processing & Outsourced Services 6 -16.4%0.3%-14.2% EXLS 64% · BR 13% · G -13%
Research & Consulting Services 13 4.9%-10.7%-19.3% HURN 270% · FCN 31% · BAH 11%
Agricultural & Farm Machinery 16 12.4%-5.6%-21.0% DE 101% · TTC 22% · AGCO 6%
Security & Alarm Services 9 -54.3%16.3%-27.6% BCO 67%
Environmental & Facilities Services 29 -33.0%23.7%-29.1% GEO 228% · CLH 153% · RSG 95%
Passenger Airlines 11 1.0%52.5%-29.7% LTM 2790% · UAL 128% · DAL 115%
Air Freight & Logistics 12 -24.7%-8.8%-39.0% FDX 86% · EXPD 74% · CHRW 53%
Human Resource & Employment Services 22 21.2%-9.1%-42.3% ADP 48% · FA 28% · PAYX 9%
Passenger Ground Transportation 3 -18.8%39.7%-63.3% UBER 56% · LYFT -63% · CAR -67%
Airport Services 4 -53.4%-61.7%-86.5% JOBY -51%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

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Financials

MGRCWSCURIHRIMedian
NameMcGrath .WillScot United R.Herc  
Mkt Price130.0019.261,175.64169.48149.74
Mkt Cap3.23.573.15.74.6
Rev LTM9512,29417,4964,9163,605
Op Inc LTM2454684,534676572
FCF LTM-60298892-193119
FCF 3Y Avg8359695-111184
CFO LTM2597036,1901,266985
CFO 3Y Avg2616965,3611,184940

Growth & Margins

MGRCWSCURIHRIMedian
NameMcGrath .WillScot United R.Herc  
Rev Chg LTM2.1%-2.5%9.4%26.8%5.8%
Rev Chg 3Y Avg6.3%-0.3%8.0%15.3%7.1%
Rev Chg Q7.1%3.9%15.7%4.5%5.8%
QoQ Delta Rev Chg LTM1.9%1.0%3.9%1.2%1.6%
Op Inc Chg LTM5.3%-18.6%13.1%42.9%9.2%
Op Inc Chg 3Y Avg11.0%-9.7%6.1%5.8%5.9%
Op Mgn LTM25.7%20.4%25.9%13.8%23.1%
Op Mgn 3Y Avg25.8%23.4%26.0%15.6%24.6%
QoQ Delta Op Mgn LTM0.3%-0.4%0.8%0.6%0.4%
CFO/Rev LTM27.2%30.7%35.4%25.8%28.9%
CFO/Rev 3Y Avg28.4%29.6%33.1%29.5%29.5%
FCF/Rev LTM-6.3%13.0%5.1%-3.9%0.6%
FCF/Rev 3Y Avg0.9%15.2%4.3%-2.5%2.6%

Valuation

MGRCWSCURIHRIMedian
NameMcGrath .WillScot United R.Herc  
Mkt Cap3.23.573.15.74.6
P/S3.31.54.21.22.4
P/Op Inc13.07.416.18.410.7
P/EBIT13.024.216.18.714.5
P/E19.9-50.625.646.022.7
P/CFO12.35.011.84.58.4
Total Yield6.6%-0.5%4.6%3.9%4.2%
Dividend Yield1.5%1.5%0.7%1.7%1.5%
FCF Yield 3Y Avg0.3%6.1%1.2%-2.8%0.7%
D/E0.21.10.21.70.7
Net D/E0.21.10.21.70.6

Returns

MGRCWSCURIHRIMedian
NameMcGrath .WillScot United R.Herc  
1M Rtn11.1%11.3%8.8%22.5%11.2%
3M Rtn9.1%-24.8%5.5%3.9%4.7%
6M Rtn17.6%-11.4%27.5%38.2%22.6%
12M Rtn23.1%-10.3%36.1%21.6%22.4%
3Y Rtn34.1%-45.0%167.6%44.6%39.4%
1M Excs Rtn13.4%13.7%11.1%24.8%13.6%
3M Excs Rtn11.0%-25.0%4.9%2.3%3.6%
6M Excs Rtn12.9%-16.1%22.8%33.4%17.8%
12M Excs Rtn10.4%-21.1%27.5%15.2%12.8%
3Y Excs Rtn-41.1%-130.8%117.0%-14.8%-27.9%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Mobile Modular645635562379301
TRS-RenTelco149135148151140
Portable Storage93941018362
Enviroplex5746202331
Total944911832636535


Operating Income by Segment
$ Mil20252024202320222021
Mobile Modular1671731227665
TRS-RenTelco3931324136
Portable Storage2836383119
Enviroplex104-2-05
Total244244190147124


Net Income by Segment
$ Mil202520242023
Mobile Modular10411369
TRS-RenTelco252119
Portable Storage182424
Enviroplex950
Total156163112


Price Behavior

Price Behavior
Market Price$129.44 
Market Cap ($ Bil)3.2 
First Trading Date03/26/1990 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$113.63$113.18
DMA Trenddownup
Distance from DMA13.9%14.4%
 3M1YR
Volatility25.9%27.5%
Downside Capture-18.1040.47
Upside Capture30.8357.83
Correlation (S&P 500)9.8%22.2%
MGRC Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.650.490.590.360.510.70
Up Beta1.970.451.200.340.260.60
Down Beta0.020.200.550.530.570.76
Up Capture128%81%49%35%48%39%
Bmk +ve Days12182862130427
Stock +ve Days13263566126377
Down Capture55%31%38%25%63%93%
Bmk -ve Days10253664121325
Stock -ve Days9172958123373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MGRC
MGRC20.5%27.5%0.65-
Sector ETF (XLI)10.7%17.3%0.4232.9%
Equity (SPY)11.6%12.8%0.5722.0%
Gold (GLD)-2.3%28.6%-0.094.4%
Commodities (DBC)43.1%20.9%1.60-26.0%
Real Estate (VNQ)11.0%13.7%0.5021.1%
Bitcoin (BTCUSD)-28.8%43.6%-0.667.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MGRC
MGRC13.1%26.5%0.45-
Sector ETF (XLI)11.7%17.6%0.5048.8%
Equity (SPY)12.0%17.1%0.5242.8%
Gold (GLD)16.5%19.0%0.692.3%
Commodities (DBC)8.4%19.6%0.312.1%
Real Estate (VNQ)1.1%18.9%-0.0538.4%
Bitcoin (BTCUSD)4.1%51.6%0.2615.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MGRC
MGRC18.1%30.7%0.60-
Sector ETF (XLI)13.4%20.1%0.5858.0%
Equity (SPY)15.2%17.9%0.7252.7%
Gold (GLD)11.6%16.5%0.571.3%
Commodities (DBC)7.8%18.1%0.3416.2%
Real Estate (VNQ)5.4%20.7%0.2246.9%
Bitcoin (BTCUSD)61.7%66.3%1.0114.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.5 Mil
Short Interest: % Change Since 9302026-6.5%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest3.0 days
Basic Shares Quantity24.4 Mil
Short % of Basic Shares1.9%

Earnings Returns History

Updated 8/31/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/2026-1.7%3.4%-2.8%
4/29/2026-6.9%-4.8%-8.3%
2/25/2026-0.7%-4.0%-4.0%
10/23/2025-4.9%-9.2%-16.9%
7/24/20257.4%7.6%7.0%
4/24/2025-0.6%3.2%9.0%
2/19/20254.1%1.1%-7.4%
10/24/20248.5%8.1%14.9%
...
SUMMARY STATS   
# Positive121313
# Negative121111
Median Positive4.5%4.3%7.0%
Median Negative-2.0%-4.0%-5.6%
Max Positive11.6%12.5%18.8%
Max Negative-6.9%-9.2%-16.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/29/2026-1.7%3.4%-2.8%
4/29/2026-6.9%-4.8%-8.3%
2/25/2026-0.7%-4.0%-4.0%
10/23/2025-4.9%-9.2%-16.9%
7/24/20257.4%7.6%7.0%
4/24/2025-0.6%3.2%9.0%
2/19/20254.1%1.1%-7.4%
10/24/20248.5%8.1%14.9%
7/25/2024-4.0%-7.6%-5.6%
4/25/20242.2%-0.6%1.3%
2/21/2024-1.5%-2.1%-3.2%
10/26/20235.3%4.3%3.1%
7/27/20234.9%5.2%11.5%
5/4/20233.4%4.3%5.9%
2/22/20231.4%-3.6%-13.4%
10/27/202211.6%11.3%11.4%
7/28/20222.0%1.3%2.3%
4/28/2022-1.5%-4.0%-3.1%
2/23/202210.4%12.5%18.8%
10/28/2021-4.1%1.5%3.6%
8/3/2021-5.7%-7.6%-9.6%
4/28/2021-1.2%-2.7%2.4%
2/23/20210.1%-2.1%-0.7%
10/29/2020-2.2%1.9%9.0%
SUMMARY STATS   
# Positive121313
# Negative121111
Median Positive4.5%4.3%7.0%
Median Negative-2.0%-4.0%-5.6%
Max Positive11.6%12.5%18.8%
Max Negative-6.9%-9.2%-16.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202610/28/202610-Q
06/30/202607/29/202610-Q
03/31/202604/29/202610-Q
12/31/202502/25/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202504/24/202510-Q
12/31/202402/19/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/21/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202305/04/202310-Q
12/31/202202/22/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202610/28/202610-Q
06/30/202607/29/202610-Q
03/31/202604/29/202610-Q
12/31/202502/25/202610-K
09/30/202510/23/202510-Q
06/30/202507/24/202510-Q
03/31/202504/24/202510-Q
12/31/202402/19/202510-K
09/30/202410/24/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/21/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202305/04/202310-Q
12/31/202202/22/202310-K
09/30/202210/27/202210-Q
06/30/202207/28/202210-Q
03/31/202204/28/202210-Q
12/31/202102/23/202210-K
09/30/202110/28/202110-Q
06/30/202108/03/202110-Q
03/31/202104/28/202110-Q
12/31/202002/23/202110-K
09/30/202010/29/202010-Q
06/30/202007/29/202010-Q
03/31/202004/29/202010-Q
12/31/201902/25/202010-K

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 7/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total revenueReported955.00 Mil970.00 Mil985.00 Mil0 AffirmedGuidance: 970.00 Mil for 2026
2026 Adjusted EBITDAReported363.00 Mil369.00 Mil375.00 Mil0 AffirmedGuidance: 369.00 Mil for 2026
2026 Gross rental equipment capital expendituresReported200.00 Mil210.00 Mil220.00 Mil10.5% RaisedGuidance: 190.00 Mil for 2026


Prior: Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total revenueReported945.00 Mil970.00 Mil995.00 Mil0 AffirmedGuidance: 970.00 Mil for 2026
2026 Adjusted EBITDAReported360.00 Mil369.00 Mil378.00 Mil0 AffirmedGuidance: 369.00 Mil for 2026
2026 Gross rental equipment capital expendituresReported180.00 Mil190.00 Mil200.00 Mil0 AffirmedGuidance: 190.00 Mil for 2026

Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total revenueReported945.00 Mil970.00 Mil995.00 Mil2.6% Higher NewGuidance: 945.00 Mil for 2025
2026 Adjusted EBITDAReported360.00 Mil369.00 Mil378.00 Mil4.4% Higher NewGuidance: 353.50 Mil for 2025
2026 Gross rental equipment capital expendituresReported180.00 Mil190.00 Mil200.00 Mil55.1% Higher NewGuidance: 122.50 Mil for 2025

Q3 2025 Earnings Reported 10/23/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Total RevenueReported935.00 Mil945.00 Mil955.00 Mil0.3% RaisedGuidance: 942.50 Mil for 2025
2025 Adjusted EBITDAReported350.00 Mil353.50 Mil357.00 Mil0.6% RaisedGuidance: 351.50 Mil for 2025
2025 Gross rental equipment capital expendituresReported120.00 Mil122.50 Mil125.00 Mil2.1% RaisedGuidance: 120.00 Mil for 2025

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hanna, Joseph F DirectSell10022026115.047,500862,82516,571,872Form
2Wescott, TaraSVP, Chief HR OfficerDirectSell8202026122.001,325161,650955,382Form
3Skenesky, John PVP and Division ManagerDirectSell8132026120.412,000240,8201,280,441Form
4Hawkins, Philip BPresident and CEODirectSell8132026120.914,435536,2561,616,748Form
5Hanna, Joseph F DirectSell7022026120.647,500904,81818,283,229Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hanna, Joseph F DirectSell10022026115.047,500862,82516,571,872Form
2Wescott, TaraSVP, Chief HR OfficerDirectSell8202026122.001,325161,650955,382Form
3Skenesky, John PVP and Division ManagerDirectSell8132026120.412,000240,8201,280,441Form
4Hawkins, Philip BPresident and CEODirectSell8132026120.914,435536,2561,616,748Form
5Hanna, Joseph F DirectSell7022026120.647,500904,81818,283,229Form
6Lieffrig, JohnVP and Division ManagerDirectSell6292026125.0050062,5002,943,875Form
7Lieffrig, JohnVP and Division ManagerDirectSell6292026125.002,000250,0003,006,375Form
8Malek, GildaSVP, Chief Legal OfficerDirectSell6162026114.041,407160,454914,373Form
9Van, Trease KristinaChief Strategy OfficerDirectSell6122026113.653,783429,943742,485Form
10Whitney, David MSVP, Chief Accounting OfficerSpouse's HoldingSell6122026113.653,783429,943742,485Form
11Van, Trease KristinaChief Strategy OfficerDirectSell5192026115.0053961,9851,186,343Form
12Whitney, David MSVP, Chief Accounting OfficerSpouse's HoldingSell5192026115.0053961,9851,186,343Form
13Hanna, Joseph F DirectSell5052026112.0053059,36017,813,488Form
14Hanna, Joseph F DirectSell5052026112.499,4701,065,31017,951,543Form
15Malek, GildaSVP, Chief Legal OfficerDirectSell12162025107.2982988,943436,453Form

Investor Activity (13F)

Updated Nov 3, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Paradice Investment Management LLC$17.5 Mil3.3%23New13F
Neumeier Poma Investment Counsel LLC$31.5 Mil2.6%41Hold13F
Eminence Capital, LP$88.9 Mil2.0%33TRIM -15.1%13F
Hawk Ridge Capital Management LP$53.7 Mil2.0%48Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Paradice Investment Management LLC$17.5 Mil3.3%23New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Eminence Capital, LP$88.9 Mil2.0%33TRIM -15.1%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Eminence Capital, LP$88.9 Mil2.0%33TRIM -15.1%13F
Hawk Ridge Capital Management LP$53.7 Mil2.0%48Hold13F
Neumeier Poma Investment Counsel LLC$31.5 Mil2.6%41Hold13F
Paradice Investment Management LLC$17.5 Mil3.3%23New13F
Core Cache Last Updated: 11/2/2026