Mcgrath Rentcorp (MGRC) intrinsic value & 10-year financials
Mcgrath Rentcorp (MGRC) has a Graham intrinsic value of $210.92 per share. At $113.03 on Oct 17, 2026, the stock trades 46% below that value. Over the last 10 fiscal years revenue grew 32.1% a year to $944.2M, with an average return on invested capital of 16.4%.
- Graham intrinsic value
- $210.92
- Share price (Oct 17, 2026)
- $113.03
- Price vs Graham value
- 46% below
- Market cap
- $2.8B
- Revenue (FY2025)
- $944.2M
- Revenue growth (10-yr CAGR)
- 32.1%
- ROIC (10-yr avg)
- 16.4%
- Free cash flow (FY2025)
- $211.3M
MGRC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $944.2M | $156.3M | $6.35 | $211.3M | 25.8% | 15.1% |
| FY2024 | $910.9M | $231.7M | $9.43 | $334.1M | 26.8% | 17.5% |
| FY2023 | $831.8M | $174.6M | $7.12 | $51.4M | 22.8% | 18.0% |
| FY2022 | $155.2M | $115.1M | $4.70 | $176.8M | 106.7% | 16.5% |
| FY2021 | $128.8M | $89.7M | $3.66 | $193.1M | 102.8% | 13.8% |
| FY2020 | $128.4M | $102.0M | $4.16 | $166.8M | 109.6% | 16.5% |
| FY2019 | $115.3M | $96.8M | $3.93 | $175.9M | 122.6% | 17.6% |
| FY2018 | $96.6M | $79.4M | $3.24 | $127.0M | 121.6% | 16.3% |
| FY2017 | $94.5M | $153.9M | $6.34 | $107.8M | 100.2% | 20.6% |
| FY2016 | $76.8M | $38.3M | $1.60 | $130.1M | 103.2% | 11.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MCGRATH RENTCORP is a consistent compounder, expanding top-line revenue at 32.1% annually over the past decade.
MCGRATH RENTCORP has earned high returns on invested capital, averaging 16.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
MCGRATH RENTCORP has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MCGRATH RENTCORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $210.92 per share.