Forensic Analysis · Transportation / Logistics · as of Nov 9, 2026
Gatx Corp (GATX)
A forensic read on Gatx Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Clean
Earnings quality
2
Forensic signals
12.8%
ROE
9.8%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Gatx Corp earns a D (Weak — demands caution) forensic quality grade. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of NOA).
What the filings flag
+39.5%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +39.5% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. Net operating assets also rose $12.2M through acquisitions (increase in goodwill and intangibles); that purchase is investing and is excluded from this ratio. The build is led by PP&E up +9% against revenue +10%. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 2% of net operating assets, against an accruals ratio of 39.5%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.Accruals ratio: the year-over-year change in net operating assets, relative to their own average.NOA (net operating assets): the money tied up in running the business, operating assets minus operating liabilities.
4.2%
FY2025
Return on invested capital.Return on invested capital is 4.2% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.6-point range. After-tax operating profit was $387M in FY2023 and $519M in FY2025. The capital base behind it grew +34% across FY2023–FY2025, from $9.3B to $12.4B, and the return did not fall doing it, so the dollars added over that window earned at least the 4.2% the older base was already earning.
Key fundamentals
Latest Revenue$1.74B
Revenue Growth YoY+9.8%
Revenue CAGR (2yr)+11.1%
Net Margin19.2%
Return on Equity12.8%
Debt / Equity4.56x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Gatx Corp's actual 10-K/10-Q/8-K filings?