Intrinsic value of McGrath RentCorp - MGRC

Previous Close

$38.64

  Intrinsic Value

$14.95

stock screener

  Rating & Target

str. sell

-61%

  Value-price divergence*

-30%

Previous close

$38.64

 
Intrinsic value

$14.95

 
Up/down potential

-61%

 
Rating

str. sell

 
Value-price divergence*

-30%

Our model is not good at valuating stocks of financial companies, such as MGRC.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MGRC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  4.69
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  424
  432
  442
  454
  467
  481
  496
  513
  531
  551
  572
  595
  619
  645
  672
  701
  732
  764
  799
  835
  873
  914
  957
  1,002
  1,049
  1,099
  1,152
  1,207
  1,265
  1,326
  1,391
Variable operating expenses, $m
 
  350
  358
  367
  377
  389
  401
  415
  429
  445
  462
  477
  497
  517
  539
  563
  587
  613
  641
  670
  701
  733
  768
  804
  842
  882
  924
  968
  1,015
  1,064
  1,116
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  345
  350
  358
  367
  377
  389
  401
  415
  429
  445
  462
  477
  497
  517
  539
  563
  587
  613
  641
  670
  701
  733
  768
  804
  842
  882
  924
  968
  1,015
  1,064
  1,116
Operating income, $m
  79
  83
  85
  87
  89
  92
  95
  99
  102
  106
  110
  118
  122
  127
  133
  139
  145
  151
  158
  165
  173
  181
  189
  198
  207
  217
  228
  238
  250
  262
  275
EBITDA, $m
  160
  166
  169
  174
  179
  184
  190
  197
  204
  211
  219
  228
  237
  247
  257
  268
  280
  293
  306
  320
  334
  350
  366
  384
  402
  421
  441
  462
  484
  508
  533
Interest expense (income), $m
  12
  11
  12
  13
  13
  14
  15
  16
  17
  18
  19
  20
  22
  23
  25
  26
  28
  30
  32
  34
  36
  39
  41
  44
  46
  49
  52
  56
  59
  62
  66
Earnings before tax, $m
  67
  71
  73
  74
  76
  78
  80
  83
  85
  88
  91
  97
  101
  104
  108
  112
  116
  121
  126
  131
  136
  142
  148
  154
  161
  168
  175
  183
  191
  200
  209
Tax expense, $m
  29
  19
  20
  20
  21
  21
  22
  22
  23
  24
  25
  26
  27
  28
  29
  30
  31
  33
  34
  35
  37
  38
  40
  42
  43
  45
  47
  49
  52
  54
  56
Net income, $m
  38
  52
  53
  54
  56
  57
  59
  60
  62
  64
  67
  71
  73
  76
  79
  82
  85
  88
  92
  96
  99
  104
  108
  113
  117
  123
  128
  134
  140
  146
  152

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,128
  1,150
  1,177
  1,207
  1,241
  1,278
  1,320
  1,365
  1,413
  1,466
  1,522
  1,582
  1,646
  1,715
  1,787
  1,865
  1,946
  2,033
  2,124
  2,221
  2,323
  2,431
  2,544
  2,664
  2,790
  2,923
  3,063
  3,210
  3,365
  3,528
  3,699
Adjusted assets (=assets-cash), $m
  1,127
  1,150
  1,177
  1,207
  1,241
  1,278
  1,320
  1,365
  1,413
  1,466
  1,522
  1,582
  1,646
  1,715
  1,787
  1,865
  1,946
  2,033
  2,124
  2,221
  2,323
  2,431
  2,544
  2,664
  2,790
  2,923
  3,063
  3,210
  3,365
  3,528
  3,699
Revenue / Adjusted assets
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
  0.376
Average production assets, $m
  983
  1,002
  1,025
  1,051
  1,081
  1,114
  1,150
  1,189
  1,231
  1,277
  1,326
  1,378
  1,434
  1,494
  1,557
  1,624
  1,696
  1,771
  1,851
  1,935
  2,024
  2,118
  2,216
  2,321
  2,431
  2,546
  2,668
  2,796
  2,931
  3,073
  3,223
Working capital, $m
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
Total debt, $m
  326
  341
  358
  378
  400
  424
  451
  480
  512
  546
  583
  622
  664
  708
  756
  806
  859
  915
  975
  1,038
  1,104
  1,174
  1,248
  1,326
  1,408
  1,495
  1,586
  1,682
  1,782
  1,888
  2,000
Total liabilities, $m
  734
  749
  766
  786
  808
  832
  859
  888
  920
  954
  991
  1,030
  1,072
  1,116
  1,164
  1,214
  1,267
  1,323
  1,383
  1,446
  1,512
  1,582
  1,656
  1,734
  1,816
  1,903
  1,994
  2,090
  2,190
  2,296
  2,408
Total equity, $m
  394
  401
  411
  421
  433
  446
  461
  476
  493
  512
  531
  552
  575
  598
  624
  651
  679
  709
  741
  775
  811
  848
  888
  930
  974
  1,020
  1,069
  1,120
  1,174
  1,231
  1,291
Total liabilities and equity, $m
  1,128
  1,150
  1,177
  1,207
  1,241
  1,278
  1,320
  1,364
  1,413
  1,466
  1,522
  1,582
  1,647
  1,714
  1,788
  1,865
  1,946
  2,032
  2,124
  2,221
  2,323
  2,430
  2,544
  2,664
  2,790
  2,923
  3,063
  3,210
  3,364
  3,527
  3,699
Debt-to-equity ratio
  0.827
  0.850
  0.870
  0.900
  0.920
  0.950
  0.980
  1.010
  1.040
  1.070
  1.100
  1.130
  1.160
  1.180
  1.210
  1.240
  1.260
  1.290
  1.310
  1.340
  1.360
  1.380
  1.410
  1.430
  1.450
  1.470
  1.480
  1.500
  1.520
  1.530
  1.550
Adjusted equity ratio
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349
  0.349

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  38
  52
  53
  54
  56
  57
  59
  60
  62
  64
  67
  71
  73
  76
  79
  82
  85
  88
  92
  96
  99
  104
  108
  113
  117
  123
  128
  134
  140
  146
  152
Depreciation, amort., depletion, $m
  81
  83
  85
  87
  89
  92
  95
  98
  101
  105
  109
  110
  115
  120
  125
  130
  136
  142
  148
  155
  162
  169
  177
  186
  194
  204
  213
  224
  235
  246
  258
Funds from operations, $m
  165
  135
  138
  141
  145
  149
  153
  158
  164
  169
  175
  181
  188
  196
  203
  212
  221
  230
  240
  250
  261
  273
  285
  298
  312
  326
  341
  357
  374
  392
  410
Change in working capital, $m
  23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from operations, $m
  142
  135
  138
  141
  145
  149
  154
  158
  164
  169
  175
  181
  188
  196
  203
  212
  221
  230
  240
  250
  261
  273
  285
  298
  312
  326
  341
  357
  374
  392
  410
Maintenance CAPEX, $m
  0
  -79
  -80
  -82
  -84
  -86
  -89
  -92
  -95
  -99
  -102
  -106
  -110
  -115
  -120
  -125
  -130
  -136
  -142
  -148
  -155
  -162
  -169
  -177
  -186
  -194
  -204
  -213
  -224
  -235
  -246
New CAPEX, $m
  -90
  -20
  -23
  -26
  -30
  -33
  -36
  -39
  -42
  -46
  -49
  -52
  -56
  -60
  -63
  -67
  -71
  -75
  -80
  -84
  -89
  -94
  -99
  -104
  -110
  -116
  -122
  -128
  -135
  -142
  -149
Cash from investing activities, $m
  -60
  -99
  -103
  -108
  -114
  -119
  -125
  -131
  -137
  -145
  -151
  -158
  -166
  -175
  -183
  -192
  -201
  -211
  -222
  -232
  -244
  -256
  -268
  -281
  -296
  -310
  -326
  -341
  -359
  -377
  -395
Free cash flow, $m
  82
  37
  35
  33
  31
  30
  28
  27
  26
  25
  24
  23
  22
  21
  21
  20
  20
  19
  19
  18
  18
  17
  17
  17
  16
  16
  16
  16
  16
  15
  15
Issuance/(repayment) of debt, $m
  -55
  15
  17
  20
  22
  24
  27
  29
  32
  34
  37
  39
  42
  45
  47
  50
  53
  56
  60
  63
  66
  70
  74
  78
  82
  86
  91
  96
  101
  106
  112
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -58
  15
  17
  20
  22
  24
  27
  29
  32
  34
  37
  39
  42
  45
  47
  50
  53
  56
  60
  63
  66
  70
  74
  78
  82
  86
  91
  96
  101
  106
  112
Total cash flow (excl. dividends), $m
  24
  52
  52
  53
  53
  54
  55
  57
  58
  59
  61
  62
  64
  66
  68
  70
  73
  75
  78
  81
  84
  87
  91
  95
  99
  103
  107
  112
  116
  121
  127
Retained Cash Flow (-), $m
  -14
  -8
  -9
  -11
  -12
  -13
  -14
  -16
  -17
  -18
  -20
  -21
  -22
  -24
  -25
  -27
  -29
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -49
  -51
  -54
  -57
  -60
Prev. year cash balance distribution, $m
 
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  44
  43
  42
  41
  41
  41
  41
  41
  41
  41
  41
  41
  42
  43
  43
  44
  45
  46
  47
  49
  50
  51
  53
  55
  56
  58
  60
  62
  65
  67
Discount rate, %
 
  6.40
  6.72
  7.06
  7.41
  7.78
  8.17
  8.58
  9.01
  9.46
  9.93
  10.42
  10.95
  11.49
  12.07
  12.67
  13.31
  13.97
  14.67
  15.40
  16.17
  16.98
  17.83
  18.72
  19.66
  20.64
  21.67
  22.76
  23.89
  25.09
  26.34
PV of cash for distribution, $m
 
  42
  37
  34
  31
  28
  26
  23
  21
  18
  16
  14
  12
  10
  9
  7
  6
  5
  4
  3
  2
  2
  1
  1
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

McGrath RentCorp, a business to business rental company, rents and sells relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. It operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex. The Mobile Modular segment rents and sells modular buildings designed for use as classrooms, temporary offices adjacent to existing facilities, sales offices, construction field offices, restroom buildings, health care clinics, child care facilities, office space, and various other purposes; and portable storage containers. The TRS-RenTelco segment rents and sells general purpose electronic test equipment, such as oscilloscopes, amplifiers, analyzers, signal source, and power source test equipment primarily to aerospace, defense, electronics, industrial, research, and semiconductor industries. This segment also provides communications test equipment comprising network and transmission test equipment for various fiber, copper, and wireless networks to the manufacturers of communications equipment and products, electrical and communications installation contractors, field technicians, and service providers. The Adler Tanks segment rents fixed axle steel tanks for storing groundwater, wastewater, volatile organic liquids, sewage, slurry and bio sludge, oil and water mixtures, and chemicals; vacuum containers for sludge and solid materials; dewatering boxes for use in the separation of water contained in sludge and slurry; and roll-off and trash boxes for temporary storage and transportation of solid waste. The Enviroplex segment manufactures and sells modular and portable classrooms directly to public school districts and other educational institutions in California. McGrath RentCorp was founded in 1979 and is headquartered in Livermore, California.

FINANCIAL RATIOS  of  McGrath RentCorp (MGRC)

Valuation Ratios
P/E Ratio 24.4
Price to Sales 2.2
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 6.5
Price to Free Cash Flow 17.8
Growth Rates
Sales Growth Rate 4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -35.7%
Cap. Spend. - 3 Yr. Gr. Rate -9.1%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 82.7%
Total Debt to Equity 82.7%
Interest Coverage 7
Management Effectiveness
Return On Assets 3.9%
Ret/ On Assets - 3 Yr. Avg. 4.3%
Return On Total Capital 5.1%
Ret/ On T. Cap. - 3 Yr. Avg. 5.6%
Return On Equity 9.8%
Return On Equity - 3 Yr. Avg. 10.3%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 43.4%
Gross Margin - 3 Yr. Avg. 43.9%
EBITDA Margin 37.7%
EBITDA Margin - 3 Yr. Avg. 39.4%
Operating Margin 18.6%
Oper. Margin - 3 Yr. Avg. 19.5%
Pre-Tax Margin 15.8%
Pre-Tax Margin - 3 Yr. Avg. 17%
Net Profit Margin 9%
Net Profit Margin - 3 Yr. Avg. 10%
Effective Tax Rate 43.3%
Eff/ Tax Rate - 3 Yr. Avg. 41%
Payout Ratio 63.2%

MGRC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MGRC stock intrinsic value calculation we used $424 million for the last fiscal year's total revenue generated by McGrath RentCorp. The default revenue input number comes from 2016 income statement of McGrath RentCorp. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MGRC stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.4%, whose default value for MGRC is calculated based on our internal credit rating of McGrath RentCorp, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of McGrath RentCorp.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MGRC stock the variable cost ratio is equal to 80.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MGRC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for McGrath RentCorp.

Corporate tax rate of 27% is the nominal tax rate for McGrath RentCorp. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MGRC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MGRC are equal to 231.7%.

Life of production assets of 12.5 years is the average useful life of capital assets used in McGrath RentCorp operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MGRC is equal to -0.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $394 million for McGrath RentCorp - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 23.712 million for McGrath RentCorp is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of McGrath RentCorp at the current share price and the inputted number of shares is $0.9 billion.

RELATED COMPANIES Price Int.Val. Rating
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AAN Aaron's In 43.53 40.22  hold
URI United Rentals 111.86 104.52  hold
HEES H&E Equipment 20.86 8.71  str.sell
NEFF Neff Cl A 24.85 4.81  str.sell

COMPANY NEWS

▶ McGrath posts 2Q profit   [Aug-02-17 11:09PM  Associated Press]
▶ ETFs with exposure to McGrath RentCorp : June 15, 2017   [Jun-15-17 02:34PM  Capital Cube]
▶ McGrath RentCorp Declares Quarterly Dividend   [Jun-07-17 04:00PM  GlobeNewswire]
▶ ETFs with exposure to McGrath RentCorp : June 1, 2017   [Jun-01-17 01:57PM  Capital Cube]
▶ McGrath RentCorp Sees Future Getting Brighter   [May-03-17 07:31PM  Motley Fool]
▶ McGrath posts 1Q profit   [May-02-17 05:24PM  Associated Press]
▶ Dividend Growth Stocks Raising The Bar   [Mar-06-17 09:28AM  Insider Monkey]
▶ Dividend Growth Stocks Raising The Bar   [09:28AM  at Insider Monkey]
▶ McGrath RentCorp Sees Some Bright Spots in 2017   [Mar-01-17 03:36PM  Motley Fool]
▶ McGrath RentCorp Announces Leadership Change   [04:01PM  GlobeNewswire]
▶ McGrath RentCorp (MGRC): Are Hedge Funds Right About This Stock?   [Dec-12-16 09:17AM  at Insider Monkey]
▶ McGrath RentCorp Declares Quarterly Dividend   [Dec-07-16 04:15PM  GlobeNewswire]
▶ McGrath RentCorp Declares Quarterly Dividend   [Sep-21-16 04:01PM  GlobeNewswire]
▶ McGrath RentCorp Declares Quarterly Dividend   [Jun-08-16 04:01PM  GlobeNewswire]
▶ McGrath RentCorp Annual Meeting Audio Webcast   [Jun-06-16 04:01PM  GlobeNewswire]
▶ McGrath RentCorp Grows in Q1 Despite Weakness in Energy   [May-04-16 11:31AM  at Motley Fool]
▶ ETFs with exposure to McGrath RentCorp : April 28, 2016   [Apr-28-16 01:31PM  at Capital Cube]
Stock chart of MGRC Financial statements of MGRC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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