McGrath RentCorp (MGRC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico de aluguel de equipamentos e soluções modulares, a McGrath Rentcorp (MGRC) se destaca como uma potência versátil, transformando como as empresas e organizações acessam a infraestrutura flexível. Ao misturar estrategicamente tecnologia de ponta, serviços abrangentes de aluguel e uma abordagem centrada no cliente, o MGRC criou um nicho único no mercado, oferecendo soluções inovadoras que variam de contêineres de armazenamento portáteis a edifícios modulares sofisticados. Sua tela de modelo de negócios meticulosamente criada revela uma estratégia sofisticada que atende às diversas necessidades da indústria, tornando-as um parceiro preferido para empresas de construção, agências governamentais e desenvolvedores comerciais que buscam soluções espaciais eficientes e adaptáveis.

McGrath RentCorp (MGRC) - Modelo de Negócios: Parcerias -Chaves

Fabricantes de edifícios modulares e unidades de armazenamento portáteis

A McGrath RentCorp faz parceria com vários fabricantes importantes para apoiar seu espaço modular e segmentos de armazenamento portáteis:

Fabricante	Foco em parceria	Volume anual de oferta
WILLSCOT Espaço móvel	Produção modular de construção	Aproximadamente 1.200 unidades por ano
Mobile Modular Management Corporation	Soluções de armazenamento portáteis	Cerca de 900 recipientes de armazenamento anualmente

Fornecedores de aluguel de equipamentos de construção

McGrath RentCorp colabora com os fabricantes de equipamentos para expandir o inventário de aluguel:

• Caterpillar Inc. - Fornecedor de equipamentos de construção primária
• John Deere - parceria de máquinas pesadas
• Komatsu - fornecimento de equipamentos suplementares

Contratados do setor comercial e governamental

Parcerias estratégicas nos principais setores:

Setor	Principais contratados	Valor anual do contrato
Governo	Departamento de Defesa dos EUA	US $ 42,3 milhões em 2023
Comercial	Principais empresas de construção	US $ 87,6 milhões em contratos anuais

Provedores de serviços de tecnologia para gerenciamento de frota

Parceiros de tecnologia que apoiam operações de frota:

• Samsara - soluções de rastreamento de frota de IoT
• GPS Insight - Telematics
• Verizon Connect - software de gerenciamento de frota

Instituições de locação e financiamento

Parcerias financeiras que apoiam a expansão dos negócios:

Instituição financeira	Tipo de parceria	Linha de crédito
Wells Fargo	Financiamento de equipamentos	Linha de crédito rotativo de US $ 150 milhões
Bank of America	Financiamento de capital de giro	Linha de crédito de US $ 100 milhões

McGrath RentCorp (MGRC) - Modelo de Negócios: Atividades -chave

Aluguel de construção modular e vendas

A partir de 2022 Relatórios financeiros, o segmento de construção modular da McGrath Rentcorp gerou US $ 237,3 milhões em receita. A empresa mantém uma frota de aproximadamente 11.500 unidades de construção modular nos Estados Unidos.

Métrica	Valor
Inventário de construção modular total	11.500 unidades
Receita de segmento (2022)	US $ 237,3 milhões

Leasing portátil de contêiner de armazenamento

A McGrath RentCorp opera uma frota substancial de contêiner de armazenamento portátil, com aproximadamente 75.000 contêineres disponíveis para arrendamento. Em 2022, o segmento de armazenamento portátil contribuiu com US $ 137,8 milhões para a receita total da empresa.

Métrica	Valor
Inventário de contêiner de armazenamento portátil total	75.000 contêineres
Receita de segmento (2022)	US $ 137,8 milhões

Distribuição de equipamentos de aluguel especializada

A empresa fornece equipamentos de aluguel especializados em vários setores, com foco em:

• Equipamento de construção
• Geradores de energia temporários
• Sistemas de controle climático
• Soluções de transporte especializadas

Gerenciamento e manutenção da frota

McGrath RentCorp investe significativamente na manutenção da frota, com um orçamento anual de manutenção de aproximadamente US $ 45 milhões. A empresa mantém uma estratégia de manutenção abrangente para garantir a confiabilidade e a longevidade do equipamento.

Métrica de manutenção	Valor
Orçamento anual de manutenção	US $ 45 milhões
Idade média da frota	5-7 anos

Atendimento ao cliente e suporte de equipamentos

A empresa opera 29 centros de serviços nos Estados Unidos, fornecendo serviços abrangentes de suporte e manutenção de equipamentos. A equipe de atendimento ao cliente consiste em 350 profissionais dedicados.

Métrica de serviço	Valor
TOTAL CENTERS DE SERVIÇO	29 locais
Tamanho da equipe de atendimento ao cliente	350 profissionais

McGrath RentCorp (MGRC) - Modelo de Negócios: Recursos -Principais

Extensa frota de edifícios modulares

A partir do quarto trimestre 2023, McGrath Rentcorp mantém uma frota de construção modular com as seguintes especificações:

Tipo de construção	Inventário total	Valor médio de aluguel
Escritórios portáteis	4.200 unidades	$ 350- $ 750 por mês
Módulos de sala de aula	1.800 unidades	$ 400- $ 900 por mês
Instalações do canteiro de obras	2.600 unidades	US $ 500 a US $ 1.200 por mês

Inventário de contêiner de armazenamento portátil diversificado

O portfólio de contêineres de armazenamento da McGrath Rentcorp inclui:

• Total de contêineres de armazenamento: 3.500 unidades
• Faixa de tamanho de contêiner: 8 'a 40'
• Receita anual de aluguel de contêineres de armazenamento: US $ 22,4 milhões

Sistemas avançados de logística e rastreamento

Investimentos de infraestrutura de tecnologia:

Componente de tecnologia	Investimento anual
Sistemas de rastreamento GPS	US $ 1,2 milhão
Software de gerenciamento de inventário	$850,000
Rastreamento de ativos móveis	$650,000

Centros de distribuição geográfica estratégica

Detalhes da cobertura geográfica:

• Total de Centros de Distribuição: 17
• Estados com centros operacionais: 12
• Tamanho central médio: 5,6 acres

Personal técnico e de atendimento ao cliente qualificado

Composição da força de trabalho em 2023:

Categoria de funcionários	Total de funcionários	Compensação média anual
Equipe técnica	220	$85,000
Representantes de atendimento ao cliente	140	$62,000
Pessoal de logística	95	$72,000

McGrath RentCorp (MGRC) - Modelo de Negócios: Proposições de Valor

Soluções flexíveis de aluguel de equipamentos de curto e longo prazo

A McGrath Rentcorp oferece períodos de aluguel que variam de 1 mês a 60 meses em vários segmentos de negócios. A partir de 2023, o ano fiscal, a empresa informou:

Segmento de aluguel	Receita total	Duração média do aluguel
Espaço modular	US $ 216,4 milhões	18-36 meses
Equipamento de teste eletrônico	US $ 116,3 milhões	3-12 meses
Contenção de líquido/gás	US $ 47,2 milhões	6-24 meses

Ativos de aluguel de alta qualidade e bem mantidos

McGrath Rentcorp mantém uma frota robusta com as seguintes características:

• Valor total da frota: US $ 632 milhões
• Idade média da frota: 4,7 anos
• Investimento anual de manutenção: US $ 24,6 milhões
• Taxa de utilização da frota: 78,3%

Rápida implantação de espaços modulares e unidades de armazenamento

Métricas de implantação para espaços modulares em 2023:

Métrica de implantação	Valor
Tempo médio de configuração	3-5 dias úteis
Unidades modulares no inventário	6.800 unidades
Cobertura geográfica	48 estados

Alternativas econômicas à construção permanente

Dados de comparação de custos para 2023:

• Custo de aluguel de espaço modular: 40-60% menor que a construção permanente
• Economia média do cliente: US $ 127.000 por projeto
• Duração típica do aluguel: 18-36 meses

Soluções personalizáveis ​​para várias necessidades do setor

Receita de segmento da indústria para 2023:

Segmento da indústria	Receita de aluguel	Porcentagem da receita total
Construção	US $ 164,3 milhões	37.2%
Educação	US $ 89,7 milhões	20.3%
Governo	US $ 62,5 milhões	14.1%
Industrial	US $ 45,6 milhões	10.3%
Outro	US $ 79,9 milhões	18.1%

McGrath RentCorp (MGRC) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas direta

A partir de 2024, a McGrath Rentcorp mantém uma equipe de vendas direta dedicada de 87 representantes de vendas profissionais em vários segmentos de negócios.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	87
Comprimento médio do ciclo de vendas	45 dias
Custo de aquisição do cliente	US $ 3.750 por cliente

Plataformas de gerenciamento de aluguel online

McGrath RentCorp opera uma plataforma digital abrangente com as seguintes características:

• Sistema de gerenciamento de aluguel online 24/7
• Rastreamento de equipamentos em tempo real
• Gerenciamento de contratos digital

Métrica da plataforma digital	2024 Performance
Volume de transações online	62% do total de aluguel
Contas de usuário da plataforma	4.325 usuários ativos

Suporte personalizado ao cliente

A McGrath RentCorp fornece suporte ao cliente multicanal com representantes de serviços dedicados.

Canal de suporte	Tempo médio de resposta
Suporte telefônico	12 minutos
Suporte por e -mail	4 horas
Bate -papo ao vivo	7 minutos

Contratos de serviço de longo prazo

A empresa se concentra no estabelecimento de acordos de aluguel estendidos com os principais clientes.

Tipo de contrato	Porcentagem de negócios
Contratos de curto prazo (1-3 meses)	35%
Contratos de médio prazo (3-12 meses)	42%
Contratos de longo prazo (mais de 12 meses)	23%

Gerenciamento de contas para clientes recorrentes

McGrath RentCorp implementa uma abordagem de gerenciamento de contas estruturadas para clientes recorrentes.

• Gerentes de conta dedicados para clientes de primeira linha
• Estruturas de preços personalizados
• Acesso ao equipamento prioritário

Métrica de retenção de clientes	2024 Performance
Repetir a taxa de cliente	68%
Valor médio de vida útil do cliente	$247,500

McGrath RentCorp (MGRC) - Modelo de Negócios: Canais

Representantes de vendas diretas

McGrath RentCorp mantém uma equipe de vendas dedicada de 87 representantes de vendas diretas a partir do quarto trimestre de 2023. A equipe de vendas cobre várias regiões geográficas nos Estados Unidos.

Métrica do canal de vendas	2023 dados
Total de representantes de vendas diretas	87
Cobertura média de território de vendas	3.4 estados por representante
Geração anual de receita da equipe de vendas	US $ 412,6 milhões

Site da empresa e portal online

A plataforma digital da McGrath Rentcorp processa aproximadamente 42% das transações de aluguel de equipamentos por meio de seu portal on -line em 2023.

• Site mensal visitantes únicos: 124.567
• Porcentagem de transação de aluguel online: 42%
• Receita da plataforma digital: US $ 178,3 milhões

Feiras e exposições da indústria

A empresa participa de 17 grandes feiras de comércio da indústria anualmente, gerando US $ 56,4 milhões em leads e contratos diretos.

Métrica da feira	2023 desempenho
TOTAL DE FERRO COMERCIAL ATIVADO	17
Valor de geração de lead	US $ 56,4 milhões
Taxa de conversão	22.6%

Mercados de aluguel de equipamentos

A McGrath RentCorp se integra a 6 principais mercados de aluguel de equipamentos, gerando US $ 94,2 milhões em receita de origem no mercado para 2023.

• Total Marketplace Partnerships: 6
• Receita do mercado: US $ 94,2 milhões
• Taxa média de comissão no mercado: 8,3%

Redes de referência

A Companhia aproveita 42 parcerias estratégicas de referência nos setores de construção, industrial e infraestrutura.

Métrica de rede de referência	2023 dados
Total de parceiros de referência	42
Receita de rede de referência	US $ 67,8 milhões
Comissão Média de Referência	7.5%

McGrath RentCorp (MGRC) - Modelo de negócios: segmentos de clientes

Empresas de construção

A McGrath RentCorp atende empresas de construção com soluções espaciais modulares e aluguel de equipamentos.

Métricas de segmento	2023 dados
Receita de aluguel de mercado total de construção	US $ 187,3 milhões
Número de clientes da empresa de construção	1.247 clientes ativos
Duração média do aluguel	6,2 meses

Agências governamentais

O setor governamental representa um segmento significativo de clientes para McGrath Rentcorp.

Detalhes do segmento do governo	2023 Estatísticas
Receita de aluguel do governo	US $ 92,6 milhões
Clientes federais, estaduais e de agências locais	378 agências

Instituições educacionais

McGrath RentCorp fornece soluções modulares para escolas e universidades.

• K-12 Distritos escolares servidos: 217
• Instituições de ensino superior: 86
• Receita do segmento de educação: US $ 64,4 milhões

Promotores imobiliários comerciais

Soluções espaciais modulares para projetos de desenvolvimento comercial.

Métricas imobiliárias comerciais	2023 dados
Receita total de aluguel comercial	US $ 143,7 milhões
Clientes ativos de desenvolvedores comerciais	412 desenvolvedores

Projetos industriais e de infraestrutura

A McGrath RentCorp suporta desenvolvimentos industriais e de infraestrutura em larga escala.

• Receita do segmento industrial: US $ 112,5 milhões
• Clientes do projeto de infraestrutura: 203
• Escala média do projeto: contrato de aluguel de US $ 540.000

McGrath RentCorp (MGRC) - Modelo de Negócios: Estrutura de Custo

Aquisição e manutenção de equipamentos

No ano fiscal de 2023, o investimento em equipamentos da McGrath Rentcorp totalizou US $ 679,3 milhões. As despesas de manutenção do equipamento de aluguel foram de aproximadamente US $ 42,1 milhões anualmente.

Categoria de equipamento	Custo anual de aquisição	Despesa de manutenção
Equipamento de espaço modular	US $ 287,5 milhões	US $ 18,6 milhões
Equipamento de teste eletrônico	US $ 214,2 milhões	US $ 13,9 milhões
Unidades de armazenamento portáteis	US $ 177,6 milhões	US $ 9,6 milhões

Despesas operacionais e logísticas

Os custos operacionais da McGrath Rentcorp em 2023 foram de US $ 124,7 milhões, que incluíram:

• Despesas de transporte e entrega: US $ 37,2 milhões
• Custos de armazenamento e armazenamento: US $ 28,5 milhões
• Manutenção de combustível e veículo: US $ 22,9 milhões
• Seguro e gerenciamento de riscos: US $ 36,1 milhões

Salários e treinamento de funcionários

As despesas totais de pessoal para o ano fiscal de 2023 foram de US $ 93,6 milhões.

Categoria de funcionários	Salário médio anual	Custo total do pessoal
Gestão executiva	$425,000	US $ 2,55 milhões
Vendas e marketing	$85,000	US $ 21,25 milhões
Suporte técnico	$72,000	US $ 28,8 milhões
Equipe administrativo	$65,000	US $ 19,5 milhões

Investimentos em tecnologia e software

Despesas com tecnologia anual em 2023: US $ 16,4 milhões

• Sistemas de Planejamento de Recursos da Enterprise (ERP): US $ 5,2 milhões
• Software de gerenciamento de aluguel: US $ 4,7 milhões
• Infraestrutura de segurança cibernética: US $ 3,9 milhões
• Computação em nuvem e armazenamento de dados: US $ 2,6 milhões

Despesas de marketing e vendas

Orçamento total de marketing e vendas para 2023: US $ 22,3 milhões

Canal de marketing	Gastos anuais
Marketing digital	US $ 8,7 milhões
Feira de feira e eventos da indústria	US $ 5,6 milhões
Publicidade impressa e tradicional	US $ 4,2 milhões
Comissões da equipe de vendas	US $ 3,8 milhões

McGrath RentCorp (MGRC) - Modelo de negócios: fluxos de receita

Taxas de aluguel de construção modular

Para o ano fiscal de 2023, a McGrath Rentcorp registrou US $ 186,3 milhões em receitas modulares de aluguel de edifícios. O segmento espacular modular da empresa gerou uma taxa média de aluguel de US $ 1.250 por mês por unidade.

Métricas de receita de construção modular	2023 valor
Receita total de aluguel	US $ 186,3 milhões
Taxa média mensal de aluguel por unidade	$1,250
Unidades modulares totais alugadas	4.900 unidades

Leasing portátil de contêiner de armazenamento

O leasing portátil de contêineres de armazenamento gerou US $ 62,4 milhões em receita para a McGrath Rentcorp em 2023, representando um aumento de 7,2% em relação ao ano anterior.

• Taxa média de arrendamento mensal: US $ 385 por contêiner
• Contêineres de armazenamento portáteis totais na frota: 3.200 unidades
• Média de duração do arrendamento: 8,5 meses

Vendas de equipamentos

As vendas de equipamentos da McGrath Rentcorp totalizaram US $ 44,7 milhões em 2023, com uma margem bruta de 32,5%.

Métricas de vendas de equipamentos	2023 valor
Receita total de vendas de equipamentos	US $ 44,7 milhões
Margem bruta nas vendas de equipamentos	32.5%
Número de unidades de equipamento vendidas	1.150 unidades

Contratos de manutenção e serviço

As receitas de contrato de manutenção e serviço atingiram US $ 21,6 milhões em 2023, com um valor médio de contrato de US $ 4.800.

• Contratos de serviço total: 4.500
• Duração média do contrato: 14 meses
• Taxa de renovação do contrato de serviço: 78%

Cobranças de transporte e configuração

As cobranças de transporte e instalação geraram US $ 17,9 milhões em receita para McGrath Rentcorp em 2023.

Métricas de transporte e configuração	2023 valor
Receita total de transporte	US $ 17,9 milhões
Cobrança de configuração média	US $ 1.150 por unidade
Empregos totais de transporte	3,200

McGrath RentCorp (MGRC) - Canvas Business Model: Value Propositions

You're looking at how McGrath RentCorp delivers value across its distinct business lines, which is key to understanding their overall financial picture. The value propositions are deeply tied to the operational metrics we see in their latest reports.

Flexible, immediate space solutions for temporary or permanent needs

The core value here is providing immediate physical space, primarily through the Mobile Modular segment. This isn't just about dropping off a box; it's about providing scalable solutions for commercial and education customers who need space now, not in six months.

For the third quarter of 2025, the Mobile Modular division saw rental revenues hit $83.2 million. 72.6% was the average fleet utilization for that quarter, showing they are actively deploying assets. To give you a sense of the pricing power supporting this flexibility, the average monthly revenue per unit on rent for Mobile Modular was $865 in Q3 2025. Back in Q1 2025, the rental fleet size for this segment was approximately 43,000 units.

Turnkey service offerings (Mobile Modular Plus) simplifying site setup

This is where McGrath RentCorp bundles the space with the necessary support, making the solution truly turnkey. You get the building, plus the site preparation and setup services, which saves the customer significant coordination headaches.

The growth in these services is a clear indicator of this value proposition resonating. In Q3 2025, Mobile Modular Plus revenues reached $9.7 million, a healthy increase year-over-year. Furthermore, Mobile Modular site-related services revenues were $15.6 million for the same period. For comparison, in Q2 2025, Mobile Modular Plus alone brought in $9.2 million.

Cost-effective alternative to equipment ownership via rental model

For many customers, renting avoids the large capital outlay and depreciation risk of owning specialized assets. McGrath RentCorp's overall financial health, supported by its rental model, underpins this value.

The company is projecting full-year 2025 total revenue between $935 million and $955 million, with an Adjusted EBITDA guidance range of $350 million to $357 million. This scale allows them to offer competitive rental rates. As of September 30, 2025, McGrath RentCorp had a trailing 12-month revenue of $931 million. Their financial discipline is evident in their leverage, with the funded debt to last 12 months adjusted EBITDA ratio standing at 1.58:1 at the end of Q3 2025. This suggests they manage the cost of capital effectively, which flows down to rental pricing.

Specialized, high-value electronic test equipment rental (TRS-RenTelco)

The TRS-RenTelco segment offers specialized, high-value electronic test equipment, which is expensive to buy and quickly becomes obsolete. Renting this equipment is a clear cost-saver for engineers and technicians.

This segment showed a strong rebound in Q3 2025, with rental revenues increasing by 9% year-over-year. Total revenues for TRS-RenTelco in Q3 2025 were $36.9 million, and the segment generated an adjusted EBITDA of $20.2 million. Their average utilization rate improved to 64.8% in Q3 2025, up from 57.3% a year earlier, and rental margins reached 43%. For context on the asset base, the Q1 2025 rental fleet for TRS-RenTelco was valued at $334 million.

Reliable, fast delivery and setup across North America

McGrath RentCorp operates across North America, which is where the majority of their revenues are generated. Reliability is measured by consistent pricing and deployment capability.

The company's ability to command higher rates on new contracts speaks to perceived reliability. For Q2 2025, the monthly revenue per unit on rent for new shipments over the last 12 months was $1,168, up 4% year-over-year. The company serves approximately 21,000 clients across its base. The focus on preparing available fleet, rather than immediately purchasing new assets, in Q3 2025, shows a commitment to deploying existing, ready-to-go assets quickly to meet demand.

Here is a quick look at the segment performance that supports these value propositions for the third quarter of 2025:

Segment Metric (Q3 2025)	Mobile Modular	TRS-RenTelco	Portable Storage
Rental Revenues (Millions USD)	$83.2	(Implied from Total Rev $36.9M, Rental Rev up 9%)	$17.3 million
Total Revenues (Millions USD)	$181.5 million (Total Rev)	$36.9 million	(Implied from Adjusted EBITDA $9.2M)
Adjusted EBITDA (Millions USD)	$64.6 million	$20.2 million	$9.2 million
Rental Utilization (%)	72.6%	64.8%	61.4%

McGrath RentCorp (MGRC) - Canvas Business Model: Customer Relationships

You're looking at how McGrath RentCorp keeps its roughly 21,000 clients engaged across its three main segments as of late 2025. The approach is segmented, but the core is deep service integration, especially within the Mobile Modular business.

Dedicated direct sales force for large commercial and government accounts

For the TRS-RenTelco segment, customer acquisition relies on an outside sales force, supported by telemarketing, trade shows, and digital campaigns. A key component here is the knowledgeable inside sales engineering team, which works to match specific electronic test equipment solutions to the customer's precise requirements. This technical matching is a relationship-building step for short-term project needs or product evaluations.

Long-term rental contracts, especially in the education sector

McGrath RentCorp has a strategic focus on increasing the proportion of longer-term rental revenue contracts. The Mobile Modular segment, which is the company's largest and highest-growth area, heavily serves the education sector for temporary and permanent space needs in states like California, Texas, and Florida. While the exact percentage of revenue from long-term education contracts isn't public, the company's stated strategy points to this as a relationship anchor.

Most rental agreements in the Mobile Modular segment are operating leases that generally provide no purchase options, suggesting a focus on recurring rental income over immediate asset disposal.

High-touch service model for site-related services

The commitment to service is evident in the pricing power achieved through service offerings. For the Mobile Modular segment, rental-related services revenue grew 11% YoY in the second quarter of 2025. This service component is integral to the high-touch model, covering things like preventative maintenance and on-site support.

The value derived from these relationships and services is reflected in the unit economics. As of the second quarter of 2025, the Monthly Revenue Per Unit on Rent for the Total Fleet stood at $831, an 8% YoY increase. New shipments over the last 12 months showed even stronger pricing, with a Monthly Revenue Per Unit on Rent of $1,194, up 12% YoY. This indicates that new, deeper service integrations command a higher price.

Relationship-driven approach to foster repeat business

McGrath RentCorp emphasizes dedication to customer service, which management believes results in high levels of customer loyalty and repeat business, particularly within the Mobile Modular group. This focus on operational excellence-quick response, experienced assistance, and on-time delivery-is designed to secure ongoing contracts rather than one-off transactions.

Here's a quick look at the relationship-relevant performance indicators from the first half of 2025:

Metric	Segment/Scope	Value / Change (Latest Reported Period)
Total Client Base	Consolidated	Approximately 21,000 clients (Q1 2025)
Monthly Revenue Per Unit on Rent	Total Fleet	$831 (Q2 2025, 8% YoY increase)
Monthly Revenue Per Unit on Rent	New Shipments (Last 12 Months)	$1,194 (Q2 2025, 12% YoY increase)
Rental-Related Services Revenue Growth	Mobile Modular	11% YoY growth (Q2 2025)
TRS-RenTelco Sales Channel	Customer Acquisition	Outside sales force and inside sales engineering team

The company's ability to grow revenue per unit, even when overall fleet utilization dips slightly-for example, Mobile Modular utilization was 73.2% in Q2 2025-shows that strong customer relationships allow McGrath RentCorp to extract more value from its existing assets.

McGrath RentCorp (MGRC) - Canvas Business Model: Channels

McGrath RentCorp generates revenue through a combination of direct customer engagement and leveraging established infrastructure across North America.

The company's direct sales approach is supported by its physical footprint. McGrath RentCorp operates an extensive network of branches across the United States and Canada, ensuring timely delivery and on-site support for customers. As of late 2025, the company has 1,219 total employees supporting these operations. The entire business generates 99% of its revenues from the North American market.

The direct sales team and regional branch network are critical for the Mobile Modular segment, which remains the core business. For example, in the third quarter of 2025, Mobile Modular rental revenues increased by 2% year-over-year, driven by larger infrastructure projects. The company is actively expanding its coverage through strategic tuck-in acquisitions and growing its Mobile Modular Plus and site-related services initiatives.

Company websites serve as a primary digital touchpoint for product information and initiating the sales cycle, though specific website traffic or quote conversion statistics aren't publicly detailed. The overall sales revenue across the company saw a significant decrease in Q3 2025, falling 18% to $76.1 million. This decline was largely due to lower new equipment sales, which impacts the direct sales channel that handles equipment sales.

The Enviroplex manufacturing facility directly supports the modular classroom sales channel, particularly within the education market. In the first quarter of 2025, the Enviroplex business reported a strong quarter in new modular sales in the education market. This direct manufacturing-to-sale channel is distinct from the primary rental operations.

Third-party logistics are integrated, especially through the Mobile Modular segment's service offerings. This is reflected in the growth of rental related services, which increased 22% in Q1 2025 due to higher delivery and pick-up activities. By the third quarter of 2025, Mobile Modular rental related services revenues reached $44.5 million.

Here is a snapshot of the key financial metrics related to the revenue-generating channels as of the latest reported periods in 2025:

Metric Category	Value / Rate	Period / Context
Full Year 2025 Total Revenue Guidance	$935 million to $955 million	Updated Full Year 2025 Outlook
Mobile Modular Rental Revenue Growth	2%	Year-over-Year (Q3 2025)
Mobile Modular Sales Revenue	$52.3 million	Q3 2025 (Represents a 21% decrease YoY)
Enviroplex Channel Performance	Strong quarter in new modular sales	Q1 2025 Education Market
Rental Related Services Revenue	$44.5 million	Mobile Modular Q3 2025
TRS-RenTelco Rental Revenue Growth	9%	Year-over-Year (Q3 2025)

The company's channel strategy involves leveraging its existing fleet and service capabilities, as seen in the following operational highlights:

• The company has maintained its status as a Dividend Champion with 34 consecutive years of dividend increases.
• The Mobile Modular segment rental fleet was approximately 43,000 units valued at $1.415 billion (original acquisition cost) as of Q1 2025.
• The Portable Storage division rental fleet was approximately 42,000 units valued at $240 million as of Q1 2025.
• The TRS-RenTelco division rental fleet was approximately 22,000 units valued at $334 million as of Q1 2025.
• Management noted using off-rent inventory rather than investing in new product to manage the fleet efficiently.

McGrath RentCorp (MGRC) - Canvas Business Model: Customer Segments

You're looking at the core groups McGrath RentCorp serves, which directly map to its three primary operating divisions: Mobile Modular, Portable Storage, and TRS-RenTelco. As of late 2025, the company serves approximately 21,000 clients across North America. The Mobile Modular segment, which houses the education, commercial construction, and government facility customers, remains the largest revenue driver, accounting for 75% of total revenues in 2024. The overall business is showing resilience, with Trailing Twelve Month (TTM) revenue as of September 30, 2025, reaching $931 million USD.

The demand profile across these segments is mixed but trending positively in rental operations, which is the core of the business model. For the third quarter of 2025, rental operations revenues grew 4% overall, with each business showing positive year-over-year rental revenue growth, despite total company revenues being down 4% compared to Q3 2024.

Here is a breakdown of the key customer segments and their recent performance indicators:

• Education sector (K-12 schools, universities): A key driver within Mobile Modular, benefiting from funding tailwinds.
• Commercial and non-residential construction companies: A primary user of both Mobile Modular site offices and Portable Storage units.
• Government and municipal agencies: Utilize Mobile Modular for temporary facilities and offices.
• Technology, aerospace, and defense firms: The core customer base for the TRS-RenTelco segment.
• Industrial and energy sectors: Significant users of Portable Storage and Mobile Modular site offices.

The TRS-RenTelco segment, focused on electronic test equipment rental for technology, aerospace, and defense, was a standout performer in Q3 2025. This segment saw its rental revenues increase by 9% year-over-year, reaching $28.0 million for the quarter, with Adjusted EBITDA growing 7%. This growth suggests strong, near-term capital deployment or project activity within those high-tech and defense-related industries.

The Mobile Modular segment, which serves the construction, education, and government needs, showed its rental revenues increasing by 2% in Q3 2025. For context, this segment generated $131.9 million in revenues in Q1 2025 and saw its Q2 2025 total revenues hit $156 million. The Portable Storage segment, serving industrial and construction needs, saw its rental revenues grow by 1% in Q3 2025, marking its first year-over-year growth since Q1 2024, indicating market stabilization after a soft period.

To give you a clearer picture of the segment focus, based on 2024 revenue contribution, here's how the customer base maps to the divisions:

Customer Segment Focus Area	McGrath RentCorp Division	2024 Revenue Contribution (Approximate)	Q3 2025 Rental Revenue Growth (YoY)
Education, Commercial Construction, Government	Mobile Modular	75%	+2%
Industrial, Energy, Construction Support	Portable Storage	15%	+1%
Technology, Aerospace, Defense (Test Equipment)	TRS-RenTelco	10%	+9%

The full-year 2025 guidance, as updated in Q3, projects total revenue between $935 million and $955 million, with Adjusted EBITDA targeted between $350 million and $357 million. The company is definitely leaning on the strength of its rental fleet utilization across all customer types to meet these targets, especially given the 18% year-over-year decrease in sales revenues reported in Q3 2025.

Finance: draft 13-week cash view by Friday.

McGrath RentCorp (MGRC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive McGrath RentCorp's operations, which are heavily weighted toward asset ownership and servicing. These costs are critical to watch, especially when utilization dips.

High fixed costs from fleet depreciation and maintenance are inherent to the rental business. Depreciation on the massive equipment fleet is a non-cash charge, but it represents the constant erosion of your primary asset's value. Maintenance is the necessary cash outlay to keep that fleet earning.

Significant interest expense on net borrowings is a major cash outflow you must service. At the end of Q3 2025, McGrath RentCorp had $552 million outstanding in net borrowings. This debt level directly impacts profitability through interest payments.

Selling and administrative expenses (SG&A) are also a key area. For the third quarter of 2025, these expenses were reported at $52.5 million. This figure included investments in broader sales coverage to support future growth, which ties directly into your labor costs.

Labor costs for field service technicians and sales coverage are embedded within SG&A and Cost of Revenue. The increase in Q3 2025 SG&A was partly due to operating with broader sales coverage to support long-term business growth. You're paying people to service the fleet and find new rentals.

Capital expenditures for new rental equipment are managed based on demand signals. For the full year 2025, McGrath RentCorp guided Gross rental equipment capital expenditures to be between $115 million and $125 million. This is a strategic lever; they reduced year-to-date purchases to $92 million as of Q3 2025, focusing on using existing fleet inventory first.

Here's a quick look at some of the key financial figures impacting the cost side from the Q3 2025 results:

Cost Component	Amount/Guidance	Period/Context
Net Borrowings	$552 million	Q3 2025 Quarter End
Selling and Administrative Expenses	$52.5 million	Q3 2025
Interest Expense	$8.2 million	Q3 2025
Gross Rental CapEx Guidance	$115 million-$125 million	Full Year 2025 Guidance
Year-to-Date Rental Equipment Purchases	$92 million	Year-to-Date Q3 2025

You can see the cost of capital in action:

• Interest expense for Q3 2025 was $8.2 million.
• This was a decrease of $4.5 million from the prior year due to lower rates and debt.
• Funded debt to last twelve months' adjusted EBITDA stood at 1.58x as of Q3 2025.

The management team is actively managing CapEx based on current fleet levels. They noted that lower year-to-date purchases of $92 million were consistent with lower fleet utilization and a plan to use available fleet to satisfy orders. If onboarding takes 14+ days, churn risk rises, which means higher reconditioning and repositioning costs for the fleet.

McGrath RentCorp (MGRC) - Canvas Business Model: Revenue Streams

McGrath RentCorp's revenue generation is fundamentally built around its asset-heavy rental fleet, supplemented by equipment sales and value-added services. This model provides recurring revenue stability, which is the core of the business.

The primary engine remains the leasing of equipment across its three main segments. For the first quarter of 2025, the company reported that its primary revenue from rental operations reached $154.0 million, representing a 3% year-over-year growth, showing the underlying strength in asset utilization despite some market softness. This recurring rental income is the most predictable component of the revenue mix.

A significant secondary stream is the monetization of the asset base through outright sales. In Q1 2025, sales of new and used rental equipment contributed $38.9 million to the top line, marking an 11% increase over the prior year's first quarter. This stream is more cyclical, tied to new equipment investment decisions by customers and the company's own fleet management strategy.

Value-added services are an increasingly important area for margin enhancement. Specifically within the Mobile Modular division, revenue from rental-related services, such as the Mobile Modular Plus offering, saw growth of 12% in the first half of 2025. This focus on services helps to increase the overall revenue per unit on rent.

The company's near-term financial expectations for the full fiscal year 2025 reflect a cautiously optimistic view based on year-to-date performance and current demand signals. McGrath RentCorp has issued guidance for its full-year 2025 Total Revenue to be in the range of $935 million to $955 million. To complement this revenue outlook, the company projects its Adjusted EBITDA guidance for 2025 to fall between $350 million to $357 million.

Here's a quick look at how the key revenue components stacked up in Q1 2025 and the full-year targets you need to keep an eye on:

Revenue Component	Q1 2025 Amount	Full Year 2025 Guidance Range
Primary Rental Operations Revenue	$154.0 million	Not specified in guidance breakdown
Sales Revenue (New/Used Equipment)	$38.9 million	Not specified in guidance breakdown
Rental-Related Services Growth (H1 2025)	12% increase	Not specified in guidance breakdown
Total Revenue Guidance	($195.4 million total revenue in Q1 2025)	$935 million to $955 million
Adjusted EBITDA Guidance	($74.5 million Adjusted EBITDA in Q1 2025)	$350 million to $357 million

The revenue streams are further detailed by the underlying business activities that generate them. You should track the performance of these distinct areas:

• Rental revenue growth across all three rental businesses.
• Progress in expanding Mobile Modular Plus and site-related services.
• The impact of pricing optimization on revenue per unit.
• The performance of the Portable Storage division against softer construction markets.