GATX Corporation (GATX): Business Model Canvas [Dec-2025 Updated]

You're looking to understand the engine behind GATX Corporation's success, especially as they project solid 2025 earnings between $8.50 to $8.90 per diluted share. Honestly, their business model is elegantly simple: own high-value, long-lived assets-think railcars running at nearly 99% utilization in North America-and wrap them in sticky, full-service leasing contracts that deliver predictable cash flow, driving their trailing twelve-month revenue to $1.70 billion as of September 2025. To see the precise architecture that supports this durable performance, check out the nine building blocks of the GATX Corporation Business Model Canvas detailed below.

GATX Corporation (GATX) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that allow GATX Corporation to manage and grow its massive asset base. These aren't just vendor agreements; they are strategic alliances that secure supply, share risk, and provide necessary capital. Honestly, these partnerships are what keep the wheels turning, literally and figuratively.

Rolls-Royce & Partners Finance (RRPF) Joint Venture for Aircraft Engine Leasing

The aircraft engine leasing business is anchored by the Rolls-Royce & Partners Finance (RRPF) joint venture, where GATX Corporation holds a 50% ownership stake alongside Rolls-Royce plc. This partnership focuses on leasing aircraft spare engines globally.

• RRPF affiliates invested over $900 million in 2024.
• The joint venture plans to invest over $1 billion in 2025.
• GATX Corporation is directly investing around $250 million in engines in 2025, contingent on the production schedule.
• GATX Engine Leasing (GEL), the wholly owned portfolio, has 46 engines under management by RRPF, with a net book value under $1 billion.
• Engine Leasing segment profit reached $60.4 million in the third quarter of 2025, up from $37.5 million in the third quarter of 2024.
• The RRPF fleet utilization stood at 97.4% as of late 2025 data points.

The market for spare engines is growing, with about 50% of engines now leased, up from about 10% when the JV started in 1998.

Brookfield Infrastructure for the $4.4 Billion Wells Fargo Rail Acquisition

GATX Corporation partnered with Brookfield Infrastructure Partners to execute the acquisition of Wells Fargo's rail equipment leasing business, a transaction valued at approximately $4.4 billion. This deal, announced in May 2025, dramatically expands GATX Corporation's scale in North America.

The structure of the joint venture (JV) dictates initial ownership and control:

Partner	Initial Equity Stake (Day 1)	Control/Management Role
Brookfield Infrastructure Partners	70%	Minority Board Representation (2 members)
GATX Corporation	30%	Day-to-day control, commercial and operational management

GATX Corporation is funding its initial equity check of about $400 million through operating cash flow and financing. The combined fleet post-acquisition will exceed 210,000 railcars. The acquired Wells Fargo operating lease portfolio includes about 105,000 railcars, which had a fleet utilization of 97%. Brookfield Infrastructure also directly acquired about 23,000 railcars and 440 locomotives, which GATX Corporation will manage. GATX Corporation maintains its investment-grade credit ratings, BBB and BAA2, partly due to this structured deal.

Major Railcar Manufacturers like Trinity for Committed Supply Agreements

GATX Corporation secures its future fleet needs through long-term agreements with major manufacturers. The relationship with a subsidiary of Trinity Industries is a prime example of this commitment.

• A $1.8 billion, six-year railcar supply agreement was established with Trinity Rail, covering 15,000 new railcars through 2028.
• This includes a commitment for 6,000 tank cars, delivered at a rate of 1,200 per year from 2024 through 2028.
• The remaining 9,000 cars (a mix of freight and tank cars) are to be ordered at a rate of 1,500 per order year from 2023 to 2028.
• GATX Corporation has an option to order an additional 500 railcars annually.
• As of early 2025, over 5,700 railcars from this 2022 agreement have been placed, with the earliest scheduled delivery under this specific agreement in Q1 2026.

This agreement provides GATX Corporation with guaranteed access to modern railcars, covering base fleet reinvestment needs in North America through 2028.

Global Network of Third-Party Maintenance and Repair Shops

While GATX Corporation provides maintenance as part of its full-service leases, especially in Rail North America, the scale of its asset turnover necessitates a broad service network. The company manages this by scrapping between 2,500 and 3,000 railcars annually, requiring continuous replacement and maintenance support across its global fleet. GATX Rail Europe's fleet utilization was 93.7% as of September 30, 2025, indicating active management of asset condition across its European fleet of approximately 30,600 cars.

Financial Institutions for Debt Capital and Asset-Backed Securitizations

Maintaining an investment-grade rating is key to GATX Corporation's low-cost capital structure, which is supported by relationships with major financial institutions. The company's Long-term debt / capital ratio was 0.77 for the three months ending June 30, 2025. Total Debt stood at $9.03B as of late 2025.

The financing for the Wells Fargo Rail JV involved significant underwriting from several banks:

• A five-year unsecured term loan of $3.2 billion.
• A $250 million unsecured revolving credit facility.
• The lenders underwriting this debt included Wells Fargo Securities, BofA Securities, MUFG Bank, and Sumitomo Mitsui Banking Corporation (SMBC).

GATX Corporation's ability to secure this level of committed financing underscores the trust major financial players place in its asset management capabilities.

Finance: draft 13-week cash view by Friday.

GATX Corporation (GATX) - Canvas Business Model: Key Activities

You're managing a global fleet of essential transportation assets, so your key activities center on deployment, maintenance, and strategic capital deployment. Here's the breakdown of what GATX Corporation is actively doing to drive value across its segments as of late 2025.

Full-service leasing and management of a global railcar fleet is the core engine. This involves managing assets across North America, Europe, and India, ensuring high utilization through active commercial management. For instance, as of June 30, 2025, GATX Rail North America's wholly owned fleet stood at approximately 110,000 cars, achieving a utilization rate of 99.2%. Rail India maintained robust performance with a fleet of over 11,100 railcars and 99.6% utilization at that time.

The commercial activity is intense, focusing on locking in long-term cash flow. In the second quarter of 2025, GATX Rail North America saw a renewal lease rate change on its Lease Price Index (LPI) of a positive 24.2%, with an average renewal term of 60 months. The renewal success rate for that quarter was 84.2%.

The global fleet statistics as of the third quarter end (September 30, 2025) show the scale:

Region	Fleet Size (Approximate)	Utilization Rate
Rail North America (Excluding Boxcars)	~110,000 cars (Pre-Wells Fargo)	Strong (Utilization data not explicitly Q3 2025 reported, but RNA utilization was 99.2% end of Q2)
GATX Rail Europe (GRE)	30,600 cars	93.7%
Rail India	Over 11,700 railcars	100.0%

Strategic fleet investment and portfolio optimization is a major ongoing activity, aimed at growth and fleet renewal. GATX Corporation set a capital allocation investment target of $1.4 billion for 2025. This allocation was planned with $800 million targeted for Rail North America and $250 million for direct investments in engine leasing. The company is also preparing for a massive expansion, with the expected acquisition of Wells Fargo Rail assets adding approximately 105,000 cars to the North American fleet, making the combined fleet over 210,000 cars.

Maintenance, regulatory compliance, and engineering support for leased assets is critical for asset longevity and customer safety. GATX provides these full-service elements to help customers ship products safely and efficiently. For example, Q1 2025 saw increased net maintenance expenses driven by higher tank compliance activity, which is a necessary, scheduled operational cost.

Remarketing and sale of older railcars in the secondary market is a key source of opportunistic income. GATX capitalized on an active secondary market in the second quarter of 2025, generating remarketing income of over $34 million. The year-to-date total from asset dispositions reached approximately $65 million through Q2 2025. By the third quarter end, the company generated over $16 million in remarketing income for that quarter alone.

Managing the Rolls-Royce aircraft spare engine leasing joint venture represents the high-growth Engine Leasing key activity. GATX manages this through its 50% owned joint venture, Rolls-Royce and Partners Finance (RRPF). GATX also has its wholly owned portfolio, GATX Engine Leasing (GEL), with RRPF managing the lease administration for both. As of late 2025, GATX had over $1 billion of direct investment in engines managed by the JV, on top of its 50% interest in almost $5 billion of assets within the joint venture structure. The segment profit for Engine Leasing in the third quarter of 2025 was $60.4 million.

You can see the operational focus points:

• Full-service management of a fleet of approximately 110,000 North American railcars (as of Q2 2025).
• Executing a $1.4 billion capital investment plan for 2025.
• Generating over $34 million in remarketing income in Q2 2025.
• Administering a 50% owned engine leasing JV with assets valued near $5 billion equity equivalent.
• Maintaining high utilization, with Rail India at 100.0% as of September 30, 2025.

GATX Corporation (GATX) - Canvas Business Model: Key Resources

You're looking at the core assets that power GATX Corporation's business right now, heading into 2026. These aren't just line items; they are the physical and financial engines driving their leasing revenue.

Large, Diversified Global Railcar Fleet

The railcar fleet remains the bedrock of GATX Corporation. As of the third quarter of 2025, the wholly owned North American fleet stood at approximately 109,000 cars, which included about 7,500 boxcars. This is before the closing of the major Wells Fargo Rail transaction, which is expected to significantly expand this base.

The diversification extends globally, with substantial fleets in Europe and India:

• GATX Rail Europe (GRE) fleet size as of September 30, 2025: approximately 30,600 cars.
• Rail India fleet size as of September 30, 2025: over 11,700 railcars.
• The North American fleet utilization was 98.9% at the end of Q3 2025, excluding boxcars.
• Rail India fleet utilization was 100.0% as of September 30, 2025.

The asset mix is also managed for market relevance. Historically a 50/50 split between tank cars and freight cars, the fleet composition post-Wells Fargo acquisition is projected to shift to about 65-66% freight cars.

High-Value Aircraft Spare Engine Portfolio

The Engine Leasing segment, which includes the wholly owned portfolio and the joint venture, is a significant value driver. The 50 percent owned joint venture, Rolls-Royce Partners Finance (RRPF), leases aircraft spare engines globally.

Financial performance from this segment shows strong returns:

Period Ended September 30, 2025	Engine Leasing Segment Profit (in millions)
Third Quarter 2025	$60.4
Year to Date 2025	$126.3

The Engine Leasing segment profit for the first quarter of 2025 was $38.6 million.

Global Operational Footprint

GATX Corporation maintains a presence across key global markets, supporting its asset base:

• North America: Headquarters in Chicago, IL.
• Europe: GATX Rail Europe operations based in Vienna, Austria.
• India: GATX Rail India operations in Gurgaon.
• Trifleet, focused on tank container leasing, is based in Dordrecht, Netherlands.

The company has been active in fleet expansion, with Rail North America investment volume in Q3 2025 at $142.6 million.

Deep Technical Expertise in Maintenance and Compliance

The operational expertise covers the entire asset lifecycle, including mandatory maintenance. For instance, GATX's Q1 2025 net maintenance expenses reflected anticipated higher tank compliance activity. The company manages a complex portfolio, utilizing expertise across over 160 different types of railcars.

Strong Balance Sheet and Access to Financing

The company's financial standing supports its large asset base and investment strategy. GATX Corporation holds investment-grade ratings, specifically BBB from Standard & Poor's and BAA2 from Moody's.

Key balance sheet figures as of late 2025:

Metric (In millions USD)	As of September 30, 2025	As of December 31, 2024
Cash and Cash Equivalents	$696.1	$401.6
Total Assets	$13,310 (or $13.31 B)	N/A
Total Liabilities	$10,590 (or $10.59 B)	N/A

GATX Corporation has demonstrated continued access to capital markets, evidenced by the October 2025 announcement of an additional $207.31 million fixed-income offering. Investment volume year-to-date through Q2 2025 totaled over $515 million.

Finance: draft 13-week cash view by Friday.

GATX Corporation (GATX) - Canvas Business Model: Value Propositions

You're looking at the core benefits GATX Corporation offers its clients, the things that keep them signing on the dotted line, year after year. It really boils down to de-risking their operations by outsourcing asset management.

Full-service, hassle-free leasing that includes maintenance and taxes

GATX Corporation bundles the complexities of asset ownership into the lease payment. This means clients get the use of the asset without the direct burden of managing upkeep or tax liabilities, which is a big deal for capital-intensive industries. For instance, in the third quarter of 2025, the Rail North America segment noted higher maintenance expenses due to a heavier shop mix and increased outsourcing costs, which is the kind of variable cost GATX absorbs for its customers. Also, the financial reporting for Q3 2025 included a net positive impact of $5.3 million or $0.15 per diluted share from tax adjustments and other items, showing how these items flow through the company's structure rather than the customer's immediate books.

High fleet availability and reliability (Rail North America utilization near 99%)

Availability is everything in transportation; idle assets cost money fast. GATX Corporation consistently delivers high utilization across its global fleet, which is a direct measure of reliability and demand. Here's how the key regions stacked up as of September 30, 2025, based on the latest figures:

Segment	Fleet Utilization (as of Q3 2025 End)	Fleet Size (Approximate Cars)
Rail North America	98.9%	Approximately 109,000 wholly owned cars (excluding boxcars)
Rail India	100.0%	Over 11,700 railcars
Rail Europe (GRE)	93.7%	Approximately 30,600 cars

That 100.0% utilization in India is defintely something to note, showing peak demand there.

Flexible capital solution for customers avoiding large asset ownership costs

Leasing is inherently a flexible capital solution, letting customers avoid the massive upfront capital expenditure of buying specialized railcars or engines. GATX Corporation actively deploys capital to grow and refresh this offering. For the third quarter of 2025, the total investment volume was $361.7 million. Year-to-date through Q3 2025, GATX had invested a total of $877.0 million across its segments, including acquiring seven spare engines for $147.1 million in Q3 alone, ensuring the fleet remains modern and available for lease.

Access to a diverse fleet of specialized tank and freight railcars globally

You aren't just getting one type of asset; you're getting access to a globally managed, specialized portfolio. This diversity helps customers match the right asset to their specific commodity or route requirement. As of the end of the third quarter of 2025, the scale of the physical assets available included:

• Rail North America: Approximately 109,000 cars in the wholly owned fleet.
• Rail Europe: Approximately 30,600 cars.
• Rail India: Over 11,700 railcars.

Also, GATX Rail Europe announced an agreement to acquire approximately 6,000 railcars via a sale-leaseback from DB Cargo AG, further expanding this global access.

Long-term lease stability with renewal rate increases (LPI up +22.8% to +24.5%)

The ability to lock in long-term rates with built-in escalators provides customers with predictable future costs, which is a huge value proposition in volatile economic times. GATX Corporation's commercial team has been very successful here, as shown by the Lease Price Index (LPI) results:

• Q3 2025 Lease Price Index renewal rate change: Positive 22.8%.
• Q2 2025 Lease Price Index renewal rate change: Positive 24.2%.
• Q1 2025 Lease Price Index renewal rate change: 24.5%.

This pricing power is paired with strong customer commitment. For Q3 2025, the average lease renewal term for cars in the LPI was 60 months, and the renewal success rate reached 87.1%. That's a strong signal of customer satisfaction and the perceived value of the long-term contract.

Finance: draft 13-week cash view by Friday.

GATX Corporation (GATX) - Canvas Business Model: Customer Relationships

GATX Corporation cultivates customer relationships through a focus on long-term asset deployment and comprehensive service, which translates directly into high retention figures. This approach is key to securing stable, predictable revenue streams from their transportation asset leasing portfolio.

Dedicated, long-term commercial relationships with high renewal success rates are a hallmark of GATX Corporation's strategy. For instance, in the third quarter of 2025, the renewal success rate for Rail North America reached 87.1%, showing strong customer confidence in their existing leases. This follows a strong second quarter of 2025 where the rate was 84.2%.

The relationship-driven approach is designed to secure long-term, sticky contracts. This is evidenced by the average lease term secured during renewals. For the third quarter of 2025, the average lease renewal term for all cars included in the Lease Price Index (LPI) was 60 months, matching the 60 months average seen in the second quarter of 2025.

The full-service model is a core differentiator, particularly for complex assets like tank cars, where customers often rely on GATX Corporation for maintenance. This commitment to service is long-standing; for example, the TankTrainer program has a tenure of over 30+ years and has provided training to thousands of customers, first responders, and employees in North America.

GATX Corporation utilizes direct sales and account management teams to service large enterprise customers, fostering deep engagement. This is crucial for managing the diverse fleet, which includes over 160 different types of cars, and ensuring tailored solutions.

Here are the key metrics reflecting the success of these customer relationship strategies as of late 2025:

Metric	Time Period	Value
Renewal Success Rate (Rail North America)	Q3 2025	87.1%
Average Lease Renewal Term (LPI)	Q3 2025	60 months
Renewal Lease Rate Change (LPI)	Q3 2025	positive 22.8%
Fleet Utilization (Rail North America)	Q3 2025	98.9%

The operational support structure reinforces these commercial ties:

• GATX Corporation performs over 85% of primary repairs in its own network of maintenance shops annually.
• Rail North America customers use MyGATXRail.com for real-time fleet management and maintenance data.
• The company actively involves employees in key industry groups across North America and Europe to stay ahead of regulatory needs.
• GATX Corporation assists customers with complex, labor-intensive processes associated with maintaining periodic compliance requirements for a railcar fleet.

The focus on existing customers drives stable performance; for instance, the Rail North America fleet utilization remained exceptionally high at 98.9% at the end of the third quarter of 2025.

GATX Corporation (GATX) - Canvas Business Model: Channels

GATX Corporation deploys a multi-faceted channel strategy to reach its global customer base for leasing transportation assets, relying on direct engagement, established regional entities, and digital tools.

Direct sales force and commercial teams across global offices serve as the primary interface for securing and managing leases. These teams work to lock in long-term committed cash flow by extending lease renewal terms at attractive rates, as seen in North America where the 2024 renewal success rate was over 85%. The commercial effort is supported by digital capabilities, such as the MyGATXRail online customer portal for GATX Rail North America, which provides instant, real-time fleet management access.

The portal's capabilities include:

• View cars on lease, rates, expirations, and invoices.
• Track open orders and deliveries.
• Request service events and monitor repair status.
• View upcoming compliance programs and monitor progress.

The core of the distribution is through the geographically focused regional subsidiaries, which manage substantial, dedicated fleets:

Regional Subsidiary Channel	Asset Type	Fleet Size (as of September 30, 2025)	Utilization Rate (as of September 30, 2025)
GATX Rail North America (Wholly Owned)	Railcars	Approximately 109,000 cars	Not explicitly stated for the total fleet, but the boxcar fleet was 7,500 cars.
GATX Rail Europe (GRE)	Railcars	Approximately 30,600 cars	93.7%
GATX Rail India	Railcars	Over 11,700 railcars	100.0%

The North American railcar platform is set for significant expansion through a major acquisition. The current wholly owned fleet of approximately 109,000 cars is expected to grow substantially, with the pending acquisition from Wells Fargo Rail adding another 105,000 cars, creating a combined fleet of over 210,000 cars. The portion of the fleet GATX is buying in this transaction is valued at approximately $4.5 billion.

For specialized asset distribution, GATX uses its sister company, Trifleet Leasing, which operates under the Other segment. Trifleet Leasing serves as the channel for tank container leasing globally. As of mid-2025, this channel operated a fleet of approximately 25,000 modern tank containers, leased to industries like chemical, energy, and food grade.

GATX Corporation (GATX) - Canvas Business Model: Customer Segments

GATX Corporation serves a diverse set of customers across its global leasing platforms, primarily through its Rail North America, Rail International, and Engine Leasing segments.

The primary customer base for the railcar leasing operations includes shippers in key industrial sectors:

• Large industrial companies in refining, petroleum, and chemicals.
• Companies in the food, agriculture, and mining sectors.

Railroads and other transportation/logistics providers also utilize GATX Corporation's fleet and services.

The Engine Leasing segment's customers are global airlines and Maintenance, Repair, and Overhaul (MRO) facilities, stemming from a joint venture with Rolls-Royce.

Fleet statistics as of mid-2025 reflect the high demand from these customer segments:

Geographic Segment	Fleet Size (Approximate Units)	Fleet Utilization (As of Q2 2025)	Fleet Utilization (As of Q3 2025)
Rail North America (Wholly Owned)	110,000 cars	99.2% (Q2 2025)	98.9% (Q3 2025)
Rail Europe (GRE)	30,500 cars (Q2 2025)	93.3% (Q2 2025)	93.7% (Q3 2025)
Rail India	Over 11,100 railcars (Q2 2025)	99.6% (Q2 2025)	100.0% (Q3 2025)

Historically, GATX Corporation's North American fleet mix was near a 50% tank car and 50% freight car split; following the acquisition of Wells Fargo Rail assets, the expected mix shifts to approximately 65% to 66% freight cars.

Specific customer-related metrics from recent periods include:

• Rail North America renewal success rate: 84.2% (Q2 2025).
• Rail North America lease price index renewal rate change: Positive 24.2% (Q2 2025).
• Rail International segment profit year-to-date 2025: $57.9 million.
• Engine Leasing segment profit in Q2 2025: $27.3 million.

The company's total fleet size, including the pending Wells Fargo Rail acquisition, is projected to exceed 210,000 cars in North America alone.

GATX Corporation (GATX) - Canvas Business Model: Cost Structure

You're looking at the core expenditures that keep the GATX Corporation machine running, which is heavily weighted toward owning and maintaining massive, long-lived assets. Honestly, for a leasing company like GATX, the cost structure is dominated by the balance sheet.

High capital expenditure for asset acquisition is the primary drain. This is the money GATX spends to grow or refresh its fleet, which is the engine of the entire business. You see this clearly in the 2025 investment plan.

Here's a look at the planned capital deployment for 2025, which shows where the big money goes:

• Total planned capital allocation for 2025: $1.4 billion
• Targeted investment for Rail North America in 2025: $800 million
• Direct investment planned for Engine Leasing in 2025: $250 million
• Rail North America investment volume in Q3 2025: $142.6 million
• Total investment volume year-to-date through Q2 2025: $515.3 million

The fleet requires constant attention, leading to significant maintenance and compliance expenses. These aren't optional; they keep the assets safe and legally operable. For instance, net maintenance expenses in Q1 2025 rose specifically due to anticipated higher tank compliance activity. Also, higher maintenance expenses were cited as a factor partially offsetting segment profit in the third quarter of 2025.

Next up, you can't ignore the cost of money. Since GATX finances this massive asset portfolio largely through debt, interest expense on debt is a major recurring cost. GATX carries substantial leverage, with total debt over $8.41 Billion, and Net Debt is projected to rise to about $8.4 B in 2025. Management specifically noted that elevated interest rates could increase ownership costs by approximately $40 million for the full year 2025.

Finally, there are the day-to-day operating costs for global offices and employee salaries. These costs support the leasing, remarketing, and administrative functions across the globe. The employee base is relatively lean for the scale of assets managed:

Cost Component	Metric/Data Point	Value/Amount
Global Workforce Size	Employees as of December 31, 2024	2,150
Debt Financing Cost Impact	Estimated increase in ownership costs due to interest rates (FY 2025)	Approximately $40 million
Total Debt Exposure	Total Debt (as of latest report)	Over $8.41 Billion
Projected Net Debt	Net Debt projection for 2025	About $8.4 B

These fixed and variable operating costs, combined with the heavy capital and interest burdens, define the baseline expense profile for GATX Corporation.

GATX Corporation (GATX) - Canvas Business Model: Revenue Streams

You're looking at the engine room of GATX Corporation's financial performance, which is heavily weighted toward asset leasing. Honestly, understanding where the money comes from is the first step to valuing the company correctly.

The full-service lease revenue from railcars is definitely the substantial majority of GATX Corporation's total revenue. This is the bread and butter, driven by high utilization rates across their massive North American and International fleets. For instance, in the third quarter of 2025, the total lease revenue was reported at $377.1 million. This core stream benefits from strong commercial execution, like the reported Lease Price Index renewal rate change of 22.8% in Rail North America during Q3 2025.

Next up is the growth engine in the aviation space. The lease revenue from aircraft spare engines, primarily through the Engine Leasing segment, is showing strong momentum. Year to date 2025, the segment profit was $65.9 million. To give you a more current snapshot, the segment profit for the third quarter of 2025 alone was $60.4 million, showing a significant contribution in that single quarter.

GATX Corporation also captures value by actively managing its asset base through sales. You see gains from the remarketing and sale of used railcars pop up as a meaningful, though less predictable, revenue component. In the third quarter of 2025, the company generated over $60 million in remarketing income for that period alone. This pushed the year-to-date total from these sales to approximately $81 million as of the end of Q3 2025.

The final piece of the direct revenue puzzle comes from the smaller, diversified assets. Revenue from tank container leasing via Trifleet is reported within the Other segment. While I don't have the specific dollar amount for Trifleet's revenue for the TTM period, its inclusion diversifies the overall revenue base away from just rail and engines.

Here's a quick look at some of the key financial markers related to these revenue drivers as of late 2025:

Metric	Amount/Value	Period/Context
Total Trailing Twelve-Month Revenue	$1.70 billion	As of September 2025
Engine Leasing Segment Profit	$65.9 million	Year to date 2025 (as of Q2)
Q3 2025 Lease Revenue (Total)	$377.1 million	Third Quarter 2025
Railcar Remarketing Income	$81 million	Year to date 2025 (as of Q3)

The overall top-line performance is strong. GATX Corporation's total trailing twelve-month revenue as of September 2025 was $1.70 billion, representing growth year-over-year. This revenue base is supported by high asset utilization across the board, which is what you want to see from a leasing business.

The sources of cash flow supporting this revenue stream include:

• Full-service railcar leasing contracts, which form the bulk of the income.
• Aircraft spare engine leasing income, bolstered by strong global air travel demand.
• Asset sales, providing lumpy but significant gains from remarketing.
• Tank container leasing revenue from the Trifleet portfolio.

Finance: draft 13-week cash view by Friday.