What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does McGrath RentCorp (MGRC) spend its free cash flow?

For TTM through Q1 2026, McGrath RentCorp generated $244M of operating cash flow and $196M of free cash flow — a free cash flow margin of 80.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did McGrath RentCorp (MGRC) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent McGrath RentCorp's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

McGrath RentCorp (MGRC) Cash Flow Waterfall

Operating CF

$244M

Capex

-$48.4M

Free Cash Flow

$196M

FCF Margin

+80.2%

Cash flow waterfall for McGrath RentCorp (MGRC) — TTM through Q1 2026

Free cash flow: $196M

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for McGrath RentCorp (MGRC) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$244M	$244M
Capital Expenditure	-$48.4M	$196M
Free Cash Flow	$196M	$196M
Acquisitions	-$23.8M	$172M
Other Investing	-$93.2M	$78.7M
Share Buybacks	-$12M	$66.8M
Dividends Paid	-$48.3M	$18.5M
Net Debt Change	-$13.5M	$4.93M
Other Financing & FX	-$5.96M	-$1.03M
Net Cash Decrease	-$1.03M	-$1.03M

Operating Cash Flow$244M
Capital Expenditure-$48.4M
Free Cash Flow$196M
Acquisitions-$23.8M
Other Investing-$93.2M
Share Buybacks-$12M
Dividends Paid-$48.3M
Net Debt Change-$13.5M
Other Financing & FX-$5.96M
Net Cash Decrease-$1.03M

Want to see what drove the FCF change?Free Cash Flow Bridge

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