MEDIUMOutside partySupplier
27%
single modular manufacturer
“10-K Item 1: 'During 2025, Mobile Modular purchased 27% of its new modular units from one manufacturer.'”
MGRC · Concentration risk · 10-K extracted
McGrath RentCorp (MGRC) concentration risks
Updated
The most significant concentration McGrath RentCorp discloses is single modular manufacturer at 27%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: McGrath RentCorp’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
25%
K-12 public schools
“10-K Item 1: 'Rentals and Sales to Public Schools (K-12) ... Consolidated Rental and Sales Revenues 1 ... 25%'”
MEDIUMBuilt-inGeographic
California
“10-K Item 1A: 'a significant portion of our business is conducted in California'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile spans a single-supplier dependency, a customer segment tilt, and a geographic exposure — all three at a moderate disclosed size. On the supply side, Mobile Modular purchased 27% of its new modular units from one manufacturer during 2025 — a medium-share dependency concentration. Sourcing more than a quarter of new units from a single manufacturer introduces the risk that a production disruption, pricing change, or capacity constraint at that supplier would affect new fleet additions without a readily equivalent replacement. On the demand side, rentals and sales to K-12 public schools represented 25% of consolidated rental and sales revenues — a medium-share customer segment dependency. Public school customers are subject to governmental budget cycles and funding approvals, meaning that a broad pullback in state or local education spending could affect this segment more abruptly than a commercially driven customer base would. The character is dependency rather than structural because school-specific lease and purchase decisions are made annually based on enrollment trends and budget availability. Underlying both is a geographic concentration: a significant portion of the business is conducted in California — a medium-share, structural exposure that likely encompasses both the school customer base and the modular supply chain given the state's scale. The three exposures are interrelated: California budget health affects K-12 school demand, which is a notable share of consolidated revenues, and California-based operations amplify the geographic tilt. Investors should monitor California education funding trends and the single-manufacturer supply relationship as the primary concentration variables.
For the engine’s reasoning on MGRC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Rental & Leasing Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CAR | Avis Budget Group, Inc. | 1 | 1 | 0 | 2 |
| GATX | GATX Corporation | 0 | 3 | 1 | 4 |
| MGRC● | McGrath RentCorp | 0 | 3 | 0 | 3 |
| R | Ryder System, Inc. | 0 | 1 | 0 | 1 |
| EQPT | EquipmentShare.com Inc | 0 | 0 | 0 | 0 |
| HRI | Herc Holdings Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.