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GATX

GATX Corporation

GATX

GATX Corporation • NYSE
$159.93 ▼ -0.24% (-0.39)
Market Cap $5.71 B
52w High $178.26
52w Low $139.44
Dividend Yield 2.41%
P/E 18.68
Volume 97.48K
Outstanding Shares 35.68M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $439.3M ▲ $83M ▲ $82.2M ▲ 18.712% ▲ $2.25 ▲ $271.2M ▼
Q2-2025 $430.5M ▲ $74.7M ▲ $75.5M ▼ 17.538% ▼ $2.07 ▼ $288.7M ▲
Q1-2025 $421.6M ▲ $72.6M ▼ $78.6M ▲ 18.643% ▲ $2.15 ▲ $273.3M ▲
Q4-2024 $413.5M ▲ $80.8M ▲ $76.5M ▼ 18.501% ▼ $2.1 ▼ $261.6M ▼
Q3-2024 $405.4M $71.3M $89M 21.954% $2.44 $282.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $696.1M ▼ $13.306B ▲ $10.587B ▲ $2.719B ▲
Q2-2025 $754.6M ▼ $13.2B ▲ $10.53B ▲ $2.67B ▲
Q1-2025 $757.2M ▲ $12.966B ▲ $10.417B ▲ $2.549B ▲
Q4-2024 $401.6M ▼ $12.296B ▼ $9.858B ▼ $2.439B ▲
Q3-2024 $503.7M $12.38B $9.943B $2.437B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $75.5M ▼ $161.3M ▲ $-130.3M ▲ $-36M ▼ $-2.4M ▼ $161.3M ▲
Q1-2025 $78.6M ▲ $124.2M ▼ $-234.7M ▲ $461.6M ▲ $355.8M ▲ $124.2M ▼
Q4-2024 $76.5M ▼ $206M ▲ $-285.3M ▲ $-18.6M ▲ $-102M ▲ $206M ▲
Q3-2024 $89M ▲ $160.2M ▲ $-432.4M ▼ $-50.2M ▼ $-320M ▼ $-344.3M ▼
Q2-2024 $44.4M $138.3M $-387.4M $594.3M $344.6M $-303.7M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Other Business Segments
Other Business Segments
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Portfolio Management
Portfolio Management
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Rail International
Rail International
 $90.00M ▲$90.00M ▲$90.00M ▲$100.00M ▲
Rail North America
Rail North America
 $280.00M ▲$290.00M ▲$290.00M ▲$300.00M ▲

Five-Year Company Overview

Income Statement

Income Statement GATX’s income statement shows a steady, healthy climb in both sales and profit over the past five years. Revenue has grown each year, and profit margins have improved as well, suggesting better pricing, utilization, and cost control on the fleet. Operating profit and cash-style earnings (like EBITDA) have risen faster than sales, which points to good operating leverage in the business model. Net income and earnings per share dipped slightly during the pandemic period, then rebounded strongly, with particularly sharp growth in the last two years. Overall, the business looks more profitable, more efficient, and more productive today than it was five years ago, though results remain tied to freight demand and leasing conditions, which can be cyclical.

Balance Sheet

Balance Sheet The balance sheet reflects a classic asset-heavy leasing company: large, growing asset base funded primarily with debt. Total assets have grown meaningfully as the company has expanded and refreshed its fleet and related operations. Equity has inched up over time, indicating retained earnings and some strengthening of the capital base, but debt has grown faster than equity, leaving the company with high financial leverage. This structure is common in railcar and equipment leasing but does mean sensitivity to interest rates and refinancing conditions. The cash position is modest relative to total assets, so ongoing access to credit markets and stable cash generation are important to support this capital structure.

Cash Flow

Cash Flow GATX generates solid and gradually rising cash flow from operations, which is a good sign of the underlying health of the business. However, it consistently spends more on new equipment and capital projects than it earns in operating cash, leading to negative free cash flow year after year. This pattern signals an aggressive reinvestment strategy aimed at growing and modernizing the fleet rather than harvesting cash. The upside is long-term growth and a more competitive asset base; the trade-off is ongoing dependence on external financing (mainly debt) to fund expansion. If credit conditions tighten or demand slows, the company may need to moderate this investment pace.

Competitive Edge

Competitive Edge GATX holds a strong position as a major global railcar lessor with meaningful scale in North America and Europe, plus additional exposure to tank containers and aircraft engine leasing. Its advantage rests on several factors: the very high cost and long lead times to build comparable fleets, deep maintenance expertise, and full-service leasing offerings that simplify life for customers. Long-standing customer relationships and a wide variety of specialized cars make it hard for smaller or new entrants to compete directly. Diversification into tank containers and aircraft engines adds resilience and spreads risk across different end markets. Key risks to this position include freight and industrial cycles, regulatory changes around rail safety and emissions, and competition from other transport modes like trucking or pipelines in certain commodities.

Innovation and R&D

Innovation and R&D GATX’s innovation efforts are practical and closely tied to operations rather than traditional lab-style R&D. The company is investing in “smart” railcars with telematics, real-time tracking, and sensor data through initiatives like RailPulse and partnerships for remote monitoring. In Europe, it is pushing digital tools in maintenance and supporting next-generation technologies like Digital Automatic Coupling, which could materially improve train efficiency. The integration of Trifleet brings innovation in LNG and tank container logistics, while the Rolls-Royce joint venture uses digital platforms to manage aircraft engine leasing more effectively. These moves aim to deepen customer relationships, improve asset utilization, and differentiate GATX on service and data, though they require ongoing execution and adoption by customers to fully pay off.

Summary

Across the board, GATX looks like a mature, asset-intensive leasing business that has recently been in a growth and upgrade phase. Earnings and margins have improved noticeably, supported by strong demand and operational efficiency. The balance sheet shows rising leverage, a normal feature of this industry but still a point to monitor given interest rate and refinancing risk. Cash generation from operations is solid, but large fleet investments keep free cash flow negative, underlining the company’s choice to prioritize expansion and modernization. Competitively, GATX benefits from scale, a diverse and specialized fleet, and full-service offerings that create high switching costs for customers. Its digital and telematics initiatives, along with diversification into tank containers and aircraft engines, provide additional growth paths and help strengthen its moat. Overall, the story is one of a well-established lessor leaning into technology and fleet growth, with clear strengths but also the typical risks of high leverage, capital intensity, and exposure to economic and regulatory cycles.

NEWS

November 25, 2025 · 4:00 PM UTC

GATX Corporation to Present at 2025 Goldman Sachs Industrials & Materials Conference

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November 14, 2025 · 8:30 AM UTC

GATX Corporation to Present at the Stephens Annual Investment Conference

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October 31, 2025 · 10:10 AM UTC

GATX Corporation Announces Quarterly Dividend

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October 21, 2025 · 8:30 AM UTC

GATX Corporation Reports 2025 Third-quarter Results

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October 1, 2025 · 4:00 PM UTC

GATX Corporation Sets Date for 2025 Third-Quarter Earnings Release and Conference Call

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