{
  "url": "https://struct.news/briefs/gatx-profitable-and-steady-but-the-balance-sheet-is-doing-the-talking",
  "title": "GATX bought 101,000 railcars. Its profit barely budged.",
  "summary": "A $4.2B railcar haul sent revenue up 33% in the quarter, but depreciation and interest pulled net margin down 4.1 percentage points.",
  "published_at": "2026-07-31T18:00:21.535696+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": "GATX",
    "cik": "40211",
    "sector": null,
    "industry": null
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-07-31",
    "accession": "0000040211-26-000079",
    "url": "https://www.sec.gov/Archives/edgar/data/40211/000004021126000055/gmt-20260331.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-10-30",
    "url": "https://www.sec.gov/Archives/edgar/data/40211/000004021125000118/gmt-20250930.htm"
  },
  "reported_figures": [
    {
      "group": "Balance-sheet snapshot",
      "label": "Market cap",
      "value": 6425741000,
      "display": "$6.4B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "market_data",
        "label": "Observed market close",
        "as_of": "2026-07-31"
      }
    },
    {
      "group": "Balance-sheet snapshot",
      "label": "Enterprise value",
      "value": 18188341000,
      "display": "$18.2B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000040211-26-000055",
        "filing_date": "2026-05-07"
      }
    },
    {
      "group": "Balance-sheet snapshot",
      "label": "Net debt",
      "value": 11762600000,
      "display": "$11.8B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000040211-26-000055",
        "filing_date": "2026-05-07"
      }
    },
    {
      "group": "Balance-sheet snapshot",
      "label": "P/E",
      "value": 19.27915091509151,
      "display": "19.3x",
      "unit": "multiple",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0000040211-26-000055",
        "filing_date": "2026-05-07"
      }
    }
  ],
  "watch_next": [
    {
      "type": "interest_rates",
      "statement": "Net interest expense rose materially, attributed to a higher average debt balance from debt incurred for the railcar acquisition and higher average interest rates.",
      "importance": "medium",
      "evidence": "Net interest expense increased $49.3 million, due to a higher average debt balance, resulting from debt incurred for the acquisition of railcars from Wells Fargo, and a higher average interest rate.",
      "source_date": "2026-05-07"
    },
    {
      "type": "partner_dependency",
      "statement": "GATX disclosed acquisition of ~101,000 railcars for $4.2B from Wells Fargo via the newly formed GABX joint venture with Brookfield (effective Jan 1, 2026).",
      "importance": "high",
      "evidence": "On January 1, 2026, GATX acquired approximately 101,000 railcars for $4.2 billion from Wells Fargo Bank, N.A. (\"Wells Fargo\") through a newly formed joint venture (\"GABX\" or the \"GABX joint venture\") with Brookfield Infrastructure Partners L.P. and its institutional partners (collectively, \"Brookfield\").",
      "source_date": "2026-05-07"
    }
  ],
  "related_tickers": [
    "GATX"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}