$MGRC
MCGRATH RENTCORP

2022 Q4 Form 10-Q Financial Statement

#000095017022020314 Filed on October 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $210.9M $200.5M $173.3M
YoY Change 19.88% 15.72% 10.77%
Cost Of Revenue $107.7M $111.1M $97.49M
YoY Change 15.06% 13.96% 10.53%
Gross Profit $103.1M $89.44M $75.81M
YoY Change 25.37% 17.99% 11.14%
Gross Profit Margin 48.91% 44.6% 43.74%
Selling, General & Admin $47.33M $44.10M $39.51M
YoY Change 22.64% 11.61% 27.85%
% of Gross Profit 45.89% 49.3% 52.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.07M $27.92M $28.49M
YoY Change 1.53% -2.0% 21.23%
% of Gross Profit 27.22% 31.21% 37.58%
Operating Expenses $47.33M $44.10M $39.51M
YoY Change 22.64% 11.61% 27.85%
Operating Profit $55.81M $45.35M $36.30M
YoY Change 27.79% 24.92% -2.77%
Interest Expense -$5.144M -$4.413M -$3.296M
YoY Change 57.21% 33.89% 83.11%
% of Operating Profit -9.22% -9.73% -9.08%
Other Income/Expense, Net
YoY Change
Pretax Income $50.67M $40.93M $32.60M
YoY Change 27.62% 25.55% -8.15%
Income Tax $11.03M $10.37M $9.350M
% Of Pretax Income 21.76% 25.32% 28.68%
Net Earnings $39.64M $30.57M $23.25M
YoY Change 39.35% 31.46% -17.26%
Net Earnings / Revenue 18.8% 15.24% 13.42%
Basic Earnings Per Share $1.25 $0.96
Diluted Earnings Per Share $1.62 $1.25 $948.8K
COMMON SHARES
Basic Shares Outstanding 24.38M 24.38M 24.25M
Diluted Shares Outstanding 24.50M 24.51M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $957.0K $1.561M $2.380M
YoY Change -35.81% -34.41% 58.67%
Cash & Equivalents $957.0K $1.561M $2.380M
Short-Term Investments
Other Short-Term Assets $71.43M $72.26M $59.52M
YoY Change 30.0% 21.4% 27.46%
Inventory
Prepaid Expenses
Receivables $190.0M $190.0M $168.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $262.4M $263.8M $230.7M
YoY Change 21.52% 14.32% 29.92%
LONG-TERM ASSETS
Property, Plant & Equipment $143.9M $1.239B $1.199B
YoY Change 6.37% 3.38% 10.73%
Goodwill $132.3M $132.3M
YoY Change -0.07%
Intangibles $41.13M $42.61M $48.72M
YoY Change -12.58% -12.54% 579.71%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.445B $1.414B $1.380B
YoY Change 4.74% 2.49% 23.42%
TOTAL ASSETS
Total Short-Term Assets $262.4M $263.8M $230.7M
Total Long-Term Assets $1.445B $1.414B $1.380B
Total Assets $1.708B $1.678B $1.610B
YoY Change 7.01% 4.18% 24.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $160.8M $154.9M $137.3M
YoY Change 17.99% 12.84% 26.2%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $160.8M $154.9M $137.3M
YoY Change 17.99% 12.84% 26.2%
LONG-TERM LIABILITIES
Long-Term Debt $413.7M $419.5M $459.5M
YoY Change -2.98% -8.71% 83.79%
Other Long-Term Liabilities $82.42M $92.12M $69.63M
YoY Change 40.37% 32.28% 18.83%
Total Long-Term Liabilities $496.2M $511.6M $529.1M
YoY Change 2.27% -3.31% 71.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $160.8M $154.9M $137.3M
Total Long-Term Liabilities $496.2M $511.6M $529.1M
Total Liabilities $903.9M $904.6M $897.9M
YoY Change 4.63% 0.75% 41.67%
SHAREHOLDERS EQUITY
Retained Earnings $693.9M $665.5M
YoY Change 11.3%
Common Stock $110.1M $107.5M
YoY Change 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $803.9M $773.1M $712.5M
YoY Change
Total Liabilities & Shareholders Equity $1.708B $1.678B $1.610B
YoY Change 7.01% 4.18% 24.31%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $39.64M $30.57M $23.25M
YoY Change 39.35% 31.46% -17.26%
Depreciation, Depletion And Amortization $28.07M $27.92M $28.49M
YoY Change 1.53% -2.0% 21.23%
Cash From Operating Activities $61.13M $51.25M $38.31M
YoY Change 2.82% 33.81% 12.66%
INVESTING ACTIVITIES
Capital Expenditures $64.32M -$39.58M -$30.17M
YoY Change -329.89% 31.16% 179.39%
Acquisitions
YoY Change
Other Investing Activities $19.69M $22.36M $15.60M
YoY Change 68.3% 43.36% 31.08%
Cash From Investing Activities -$44.63M -$17.21M -$14.57M
YoY Change 174.15% 18.09% -1557.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.11M -33.22M -23.79M
YoY Change -61.19% 39.63% -29.82%
NET CHANGE
Cash From Operating Activities 61.13M 51.25M 38.31M
Cash From Investing Activities -44.63M -17.21M -14.57M
Cash From Financing Activities -17.11M -33.22M -23.79M
Net Change In Cash -602.0K 826.0K -60.00K
YoY Change -32.96% -1476.67% -105.45%
FREE CASH FLOW
Cash From Operating Activities $61.13M $51.25M $38.31M
Capital Expenditures $64.32M -$39.58M -$30.17M
Free Cash Flow -$3.183M $90.83M $68.48M
YoY Change -103.64% 32.64% 52.85%

Facts In Submission

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dei Entity Central Index Key
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dei Document Fiscal Period Focus
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dei Document Type
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10-Q
dei Document Quarterly Report
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dei Document Period End Date
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dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
000-13292
dei Entity Registrant Name
EntityRegistrantName
McGRATH RENTCORP
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
CA
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
94-2579843
dei Entity Address Address Line1
EntityAddressAddressLine1
5700 Las Positas Road
dei Entity Address City Or Town
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Livermore
dei Entity Address State Or Province
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CA
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dei City Area Code
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dei Local Phone Number
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606-9200
dei Security12b Title
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Common Stock
dei Trading Symbol
TradingSymbol
MGRC
dei Security Exchange Name
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NASDAQ
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dei Entity Filer Category
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Revenues
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfSharesOutstandingBasic
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WeightedAverageNumberOfDilutedSharesOutstanding
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WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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mgrc Goodwill Deductible For Tax Purpose Period
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us-gaap Business Acquisitions Pro Forma Revenue
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BusinessAcquisitionProFormaEarningsPerShareBasic
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BusinessAcquisitionProFormaEarningsPerShareBasic
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