McGrath RentCorp (MGRC) Cash Flow: Operating & Free Cash Flow

McGrath RentCorp (MGRC) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), McGrath RentCorp generated $255.68M of operating cash flow and spent $103.33M on capital expenditures. That left free cash flow of $152.36M, up 6.6% from $142.92M a year earlier, or 16.1% of revenue. It returned $53.59M to shareholders through $47.90M in dividends and $5.69M in share buybacks.

McGrath RentCorp Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for McGrath RentCorp (MGRC) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	156.31	231.73	174.62	115.14	89.71	101.98	96.81	79.41	153.92
Depreciation & Amortization	107.07	107.46	109.38	111.34	106.70	94.64	89.48	81.98	78.42
Deferred Income Tax	33.45	38.57	-16.95	4.49	26.35	-18.06	-20.38	12.04	-96.63
Stock Based Compensation	11.23	9.50	8.28	8.01	7.67	5.55	5.89	4.11	3.20
Change in Working Capital	-10.03	29.31	-85.53	-7.80	-9.91	-3.62	16.19	-4.40	-98.25
Change in Accounts Receivable	-14.25	6.14	-37.78	-31.36	-24.40	3.44	-7.32	-15.73	-10.48
Change in Inventory	6.28	1.12	-0.78	0.00	-12.23	-0.32	-20.30	-9.35	3.12
Change in Accounts Payable	-0.33	11.84	-49.76	16.35	12.23	0.32	20.30	-1.61	4.02
Change in Other Working Capital	-2.87	0.07	-28.55	7.22	-6.82	-7.06	23.51	22.29	-94.91
Other Operating Activities	-8.89	0.07	-111.39	-36.75	1.58	0.01	0.01	-30.47	81.73
Net Cash from Operating Activities	255.68	374.38	95.34	194.43	195.74	180.50	187.99	142.67	122.39
Investing Activities
Capital Expenditures	-103.33	-231.46	-207.50	-205.31	-59.49	-100.05	-179.78	-138.74	-109.20
Acquisitions	-23.79	80.70	-462.08	73.88	-289.71	47.05	-7.81	-7.54	38.34
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	-2.50	0.00	0.00	0.00	0.00
Other Investing Activities	-58.95	0.00	268.01	0.00	0.00	0.00	44.45	41.79	38.34
Net Cash from Investing Activities	-127.11	-150.76	-391.87	-131.43	-351.70	-53.00	-143.14	-104.49	-70.85
Financing Activities
Debt Repayment	-73.00	-172.56	349.23	-12.73	-40.00	-70.69	-5.14	-4.87	-22.90
Common Stock Repurchased	-5.69	0.00	-7.23	0.00	-5.35	-13.62	0.00	0.00	0.00
Dividends Paid	-47.90	-46.76	-45.56	-44.27	-42.18	-39.77	-35.54	-30.94	-24.88
Other Financing Activities	-5.69	-4.37	-7.23	-6.54	-5.35	-4.38	-3.33	-3.26	-2.07
Net Cash from Financing Activities	-129.08	-223.69	296.44	-63.53	156.20	-128.45	-44.02	-39.07	-49.85
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.01	-0.01	0.00	-0.16	0.00	-0.10	-0.04
Net Change in Cash	-0.51	-0.07	-0.08	-0.53	0.25	-1.10	0.83	-0.99	1.65
Cash at Beginning of Period	0.81	0.88	0.96	1.49	1.24	2.34	1.51	2.50	0.85
Cash at End of Period	0.30	0.81	0.88	0.96	1.49	1.24	2.34	1.51	2.50
Free Cash Flow	152.36	142.92	-112.16	-10.87	136.26	80.45	8.21	3.93	13.19
Supplemental Disclosures
Interest Paid	-	48.32	38.60	14.78	10.33	9.05	-	-	-
Income Taxes Paid	-	36.52	91.57	27.36	9.09	34.90	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About McGrath RentCorp Cash Flow

What is McGrath RentCorp's free cash flow?

McGrath RentCorp generated free cash flow of $152.36M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $255.68M minus $103.33M of capital expenditures. That was up 6.6% from $142.92M a year earlier. Free cash flow equaled 16.1% of revenue.

How much does McGrath RentCorp spend on capital expenditures?

McGrath RentCorp spent $103.33M on capital expenditures in fiscal 2025, compared with $231.46M a year earlier. That equals 40.4% of operating cash flow.

Does McGrath RentCorp pay dividends or buy back shares?

Yes. In fiscal 2025 McGrath RentCorp returned $47.90M in dividends and $5.69M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition