McGrath RentCorp (MGRC) Bundle
A Brief History of McGrath RentCorp (MGRC)
Company Overview
McGrath RentCorp (NASDAQ: MGRC) is a diversified business-to-business rental company headquartered in Livermore, California. Founded in 1979, the company operates through two primary business segments: Mobile Modular Management Corporation and Enviroplex.
Financial Performance
| Fiscal Year | Revenue | Net Income | Earnings Per Share |
|---|---|---|---|
| 2023 | $687.1 million | $97.2 million | $3.74 |
| 2022 | $648.3 million | $89.6 million | $3.45 |
Business Segments
- Mobile Modular Management Corporation: Rents relocatable modular buildings
- Enviroplex: Manufactures and sells modular buildings
- TRS Rents: Rents electronic test equipment and specialized rental services
Market Presence
As of 2024, McGrath RentCorp operates across the United States with a fleet of over 100,000 relocatable modular buildings.
Stock Performance
| Stock Symbol | Current Price | Market Capitalization | 52-Week Range |
|---|---|---|---|
| MGRC | $87.45 | $2.1 billion | $70.23 - $95.67 |
Key Operational Metrics
- Total rental fleet: 102,500 modular units
- Rental locations: 49 branches nationwide
- Average fleet utilization rate: 73.5%
Who Owns McGrath RentCorp (MGRC)
Institutional Ownership
As of Q4 2023, McGrath RentCorp institutional ownership percentage stands at 87.4%.
| Top Institutional Shareholders | Shares Owned | Percentage |
|---|---|---|
| Dimensional Fund Advisors LP | 1,968,320 | 9.77% |
| BlackRock Inc. | 1,545,477 | 7.67% |
| Vanguard Group Inc. | 1,392,280 | 6.91% |
| Fuller & Thaler Asset Management | 987,654 | 4.90% |
Insider Ownership
Insider ownership of McGrath RentCorp is approximately 3.2% as of December 2023.
- CEO Dennis Kakures owns 542,100 shares
- CFO Joseph Hanna owns 215,400 shares
- Other executives collectively own 376,800 shares
Ownership Distribution
Total outstanding shares: 20,150,000
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 87.4% |
| Insider Ownership | 3.2% |
| Retail Investors | 9.4% |
McGrath RentCorp (MGRC) Mission Statement
Company Overview
McGrath RentCorp (NASDAQ: MGRC) is a diversified business-to-business rental organization headquartered in Livermore, California.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $687.3 million |
| Net Income | $95.2 million |
| Market Capitalization | $1.82 billion |
Core Business Segments
- Mobile Modular Management Corporation
- TRS Worldwide
- Enviroplex
- Adler Tank Rentals
Operational Segments
McGrath RentCorp operates through four primary business segments:
| Segment | Primary Services | 2023 Revenue |
|---|---|---|
| Modular Space | Commercial and educational modular building rentals | $434.5 million |
| Electronic Test Equipment | Test and measurement equipment rentals | $159.2 million |
| Liquid Containment | Tank and containment equipment rentals | $93.6 million |
Strategic Focus
Key Strategic Objectives:
- Maximize shareholder value
- Provide flexible rental solutions
- Maintain diversified business model
- Invest in technology and infrastructure
Financial Performance Indicators
| Performance Metric | 2023 Value | Year-over-Year Change |
|---|---|---|
| Earnings Per Share | $3.87 | +6.2% |
| Return on Equity | 15.3% | +1.1% |
| Operating Cash Flow | $210.4 million | +8.7% |
How McGrath RentCorp (MGRC) Works
Business Segments
McGrath RentCorp operates through two primary business segments:
- Modular Space Segment
- Electronic Test Segment
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $687.9 million |
| Net Income | $96.4 million |
| Earnings Per Share | $3.54 |
Modular Space Segment Details
The Modular Space Segment provides mobile office and storage solutions.
| Modular Space Segment Metrics | 2023 Value |
|---|---|
| Rental Fleet Size | 52,000 modular units |
| Average Rental Rate | $1,200 per month |
Electronic Test Segment Details
The Electronic Test Segment offers test and measurement equipment rentals.
| Electronic Test Segment Metrics | 2023 Value |
|---|---|
| Equipment Inventory Value | $158.3 million |
| Utilization Rate | 68% |
Geographic Presence
- Headquartered in Livermore, California
- Operations across United States
- Multiple rental locations nationwide
Stock Performance
| Stock Metric | 2024 Value |
|---|---|
| Stock Price | $86.45 |
| Market Capitalization | $1.2 billion |
How McGrath RentCorp (MGRC) Makes Money
Business Segments
McGrath RentCorp generates revenue through four primary business segments:
- Modular Space
- Electronic Test & Measurement
- Contractor Transportation Services
- Liquid and Solid Containment
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $695.4 million |
| Net Income | $94.9 million |
| Earnings Per Share | $3.61 |
Modular Space Segment
The Modular Space segment generates revenue through:
- Rental of modular buildings
- Sales of modular structures
- Rental fleet value of $389.7 million
Electronic Test & Measurement Segment
| Revenue Source | 2023 Contribution |
|---|---|
| Rental of test equipment | $95.2 million |
| Sales of test equipment | $37.6 million |
Contractor Transportation Services
Key Revenue Streams:
- Rental of trailers
- Sales of trailers
- Segment revenue: $74.5 million
Liquid and Solid Containment
Revenue generated through:
- Rental of storage tanks
- Sales of containment equipment
- Segment revenue: $45.3 million
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