A Business at a Glance
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WillScot Holdings Corp
WSC
$4.8B
Mkt Cap
$26.50
-1.41%
WillScot Holdings Corp (WSC) has a 5-year average return on invested capital (ROIC) of 6.2%. This is below average and may indicate limited pricing power.
WillScot Holdings Corp (WSC) has a market capitalization of $4.8B. It is classified as a mid-cap stock.
Yes, WillScot Holdings Corp (WSC) pays a dividend with a trailing twelve-month yield of 1.06%. The company also returns capital through share buybacks, with a buyback yield of 1.77%.
WillScot Holdings Corp (WSC) operates in the Services-Miscellaneous Equipment Rental & Leasing industry, within the Industrials sector.
WillScot Holdings Corp (WSC) reported annual revenue of $2.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
WillScot Holdings Corp (WSC) has a net profit margin of -2.3%. The company is currently unprofitable.
WillScot Holdings Corp (WSC) generated $420 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Unless the context otherwise requires, “we,” “us,” “our” and “Company” refers to WillScot Holdings Corporation ("WillScot") and our subsidiaries. Our Company Headquartered in Scottsdale, Arizona, we are a leading business services provider specializing in innovative and flexible turnkey temporary space solutions. Our diverse product offering includes modular office complexes, mobile offices, classrooms, blast-resistant modules, clearspan structures, sanitation solutions, portable storage containers, and climate-controlled containers and trailers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.3B | 2.4B | 2.4B | 2.1B | 1.7B |
| Net Income | -68M | -53M | 28M | 476M | 340M | 160M |
| EPS | $-0.38 | $-0.29 | $0.15 | $2.36 | $1.53 | $0.69 |
| Free Cash Flow | 723M | 420M | 262M | 512M | 258M | 231M |
| ROIC | 2.9% | 3.8% | 4.1% | 10.1% | 8.1% | 4.8% |
| Gross Margin | 50.6% | 51.0% | 54.3% | 56.4% | 53.0% | 50.5% |
| Debt/Equity | 4.04 | 4.56 | 3.90 | 3.01 | 2.11 | 1.45 |
| Dividends/Share | $0.28 | $0.28 | $0.00 | $0.00 | - | - |
| Operating Income | 159M | 181M | 264M | 673M | 511M | 300M |
| Operating Margin | 7.0% | 8.0% | 11.0% | 28.5% | 23.9% | 18.0% |
| ROE | -7.8% | -5.7% | 2.5% | 33.7% | 19.1% | 7.9% |
| Shares Outstanding | 181M | 183M | 188M | 202M | 222M | 232M |
| Metric | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 453M | 427M | 446M | 751M | 1.1B | 1.3B | 1.7B | 2.1B | 2.4B | 2.4B | 2.3B | 2.3B |
| Gross Margin | 35.9% | 39.4% | 37.1% | 38.5% | 38.9% | 47.8% | 50.5% | 53.0% | 56.4% | 54.3% | 51.0% | 50.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 139M | 139M | 162M | 235M | 271M | 338M | 480M | 567M | 596M | 631M | 582M | 579M |
| EBIT | -21M | -3.2M | -58M | 6.3M | 118M | 162M | 300M | 511M | 673M | 264M | 181M | 159M |
| Op. Margin | -4.6% | -0.7% | -13.1% | 0.8% | 11.0% | 12.7% | 18.0% | 23.9% | 28.5% | 11.0% | 8.0% | 7.0% |
| Net Income | -72M | -31M | -148M | -25M | -121M | 74M | 160M | 340M | 476M | 28M | -53M | -68M |
| Net Margin | -15.8% | -7.3% | -33.1% | -3.4% | -11.4% | 5.8% | 9.6% | 15.8% | 20.1% | 1.2% | -2.3% | -3.0% |
| Non-Recurring | 15M | 19M | 72M | 28M | 15M | 20M | 38M | 31M | 33M | 36M | 330M | 330M |
| Returns on Capital | ||||||||||||
| ROIC | -29.5% | -1.0% | -17.0% | 0.4% | 5.1% | 4.7% | 4.8% | 8.1% | 10.1% | 4.1% | 3.8% | 2.9% |
| ROE | -91.6% | -219.9% | -64.4% | -4.7% | -21.4% | 5.8% | 7.9% | 19.1% | 33.7% | 2.5% | -5.7% | -7.8% |
| ROA | -14.3% | -2.8% | -9.5% | -1.2% | -4.3% | 1.8% | 2.8% | 5.9% | 8.0% | 0.5% | -0.9% | -1.2% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 120M | 59M | -1.4M | 37M | 173M | 305M | 540M | 745M | 761M | 562M | 762M | 746M |
| Free Cash Flow | -65M | -13M | -118M | -128M | -41M | 116M | 231M | 258M | 512M | 262M | 420M | 723M |
| Owner Earnings | 97M | 50M | -13M | 20M | 153M | 197M | 385M | 653M | 654M | 443M | 628M | 613M |
| CapEx | 184M | 71M | 116M | 166M | 213M | 189M | 309M | 487M | 249M | 299M | 342M | 23M |
| Maint. CapEx | 23M | 9.0M | 8.7M | 13M | 12M | 98M | 128M | 62M | 73M | 83M | 96M | 97M |
| Growth CapEx | 162M | 62M | 107M | 152M | 201M | 90M | 181M | 424M | 176M | 216M | 246M | 0 |
| D&A | 23M | 9.0M | 8.7M | 13M | 12M | 98M | 128M | 62M | 73M | 83M | 96M | 97M |
| CapEx/OCF | N/A | 121.6% | N/A | 445.5% | 123.7% | 62.0% | 57.2% | 65.4% | 32.7% | 53.3% | 44.9% | 3.1% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51M | 51M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.1% | 1.1% |
| Share Buybacks | 0 | 0 | 126M | 0 | 0 | 22M | 364M | 752M | 818M | 278M | 100M | 85M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 3.9% | 7.6% | N/A | 4.5% | 2.8% | 1.8% |
| Stock-Based Comp | 0 | 0 | 3.0M | 3.4M | 6.7M | 9.9M | 26M | 30M | 34M | 36M | 38M | 37M |
| Debt Repayment | 0 | 0 | 0 | 143M | 569M | 2.8B | 512M | 589M | 1.5B | 1.2B | 1.3B | 1.3B |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | 651M | 618M | 1.7B | 1.8B | 2.7B | 2.9B | 3.3B | 3.8B | 4.0B | 3.9B | 3.5B |
| Cash & Equiv. | 9.3M | 6.2M | 9.2M | 9.0M | 3.0M | 25M | 6.4M | 7.4M | 11M | 9.0M | 15M | 16M |
| Long-Term Debt | N/A | 656M | 625M | 1.7B | 1.6B | 2.5B | 2.7B | 3.1B | 3.5B | 3.7B | 3.6B | 3.5B |
| Debt/Equity | 89.15 | 28.43 | 1.44 | 2.63 | 3.63 | 1.31 | 1.45 | 2.11 | 3.01 | 3.90 | 4.56 | 4.04 |
| Interest Coverage | -0.2 | -0.0 | -0.5 | 0.1 | 1.0 | 1.4 | 2.6 | 3.5 | 3.3 | 41.6 | 23.8 | 23.8 |
| Equity | 5.0M | 23M | 436M | 638M | 491M | 2.1B | 2.0B | 1.6B | 1.3B | 1.0B | 856M | 871M |
| Total Assets | 501M | 1.7B | 1.4B | 2.8B | 2.9B | 5.6B | 5.8B | 5.8B | 6.1B | 6.0B | 5.8B | 5.8B |
| Total Liabilities | 446M | 1.7B | 926M | 2.1B | 2.3B | 3.5B | 3.8B | 4.3B | 4.9B | 5.0B | 5.0B | 4.9B |
| Intangibles | N/A | 125M | 126M | 132M | 127M | 496M | 443M | 419M | 420M | 251M | 224M | 213M |
| Retained Earnings | -21K | -1.5B | -1.6B | -1.7B | -1.8B | -1.8B | -1.6B | -1.3B | -775M | -747M | -800M | -772M |
| Working Capital | 874K | -35M | -28M | -13M | -28M | -27M | -35M | -41M | 7.1M | -27M | -86M | -140M |
| Current Assets | 1.0M | 138M | 128M | 256M | 293M | 422M | 483M | 521M | 569M | 558M | 525M | 530M |
| Current Liabilities | 133K | 173M | 156M | 269M | 320M | 449M | 518M | 562M | 562M | 585M | 611M | 670M |
| Per Share Data | ||||||||||||
| EPS | -4.92 | -0.49 | -7.47 | -0.53 | -1.11 | 0.25 | 0.69 | 1.53 | 2.36 | 0.15 | -0.29 | -0.38 |
| Owner EPS | 6.68 | 0.80 | -0.66 | 0.43 | 1.41 | 0.66 | 1.66 | 2.94 | 3.24 | 2.36 | 3.43 | 3.38 |
| Book Value | 0.34 | 0.37 | 22.03 | 13.42 | 4.51 | 6.96 | 8.60 | 7.05 | 6.25 | 5.43 | 4.69 | 4.81 |
| Cash Flow/Share | 8.24 | 0.94 | -0.07 | 0.78 | 1.59 | 1.03 | 2.33 | 3.36 | 3.77 | 3.00 | 4.17 | 0.16 |
| Dividends/Share | 0.00 | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 0.28 | 0.28 |
| Shares Out. | 14.6M | 62.5M | 19.8M | 47.6M | 108.8M | 296.5M | 232.1M | 221.9M | 201.9M | 187.5M | 182.7M | 181.0M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 91.0 | 58.2 | 28.9 | 18.8 | 222.1 | N/A | -70.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 58.1 | 40.4 | 38.1 | 17.5 | 23.8 | 8.6 | 6.6 |
| EV/EBIT | N/A | N/A | N/A | 395.3 | 48.6 | 50.2 | 40.0 | 25.2 | 18.6 | 37.7 | 39.7 | 52.3 |
| Price/Book | 118.0 | 39.4 | 3.4 | 1.3 | 8.3 | 3.3 | 4.7 | 6.3 | 7.1 | 6.1 | 4.2 | 5.5 |
| Price/Sales | N/A | 2.1 | 2.6 | 1.6 | 2.9 | 3.5 | 4.1 | 4.0 | 3.7 | 3.1 | 2.1 | 2.1 |
| FCF Yield | -10.9% | -1.4% | -7.9% | -15.9% | -1.0% | 1.7% | 2.5% | 2.6% | 5.7% | 4.2% | 11.6% | 15.1% |
| Market Cap | 590M | 912M | 1.5B | 805M | 4.1B | 6.7B | 9.3B | 9.8B | 9.0B | 6.2B | 3.6B | 4.8B |
| Avg. Price | 9.55 | 9.65 | 10.07 | 13.89 | 13.75 | 15.95 | 29.68 | 38.77 | 43.82 | 39.79 | 26.48 | 26.50 |
| Year-End Price | 9.44 | 9.84 | 12.71 | 9.28 | 18.02 | 22.74 | 40.18 | 44.29 | 44.44 | 33.31 | 19.74 | 26.50 |
WillScot Holdings Corp passes 6 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 6.5x vs a median of 31.0x. The company's 5-year average ROIC is 6.2% with a gross margin of 53.0%. Total shareholder yield (dividends + buybacks) is 2.8%. At current prices, the estimated annualized return to fair value is +59.6%.
WillScot Holdings Corp (WSC) has a debt-to-equity ratio of 4.56. This indicates higher leverage, which may increase financial risk.
WillScot Holdings Corp (WSC) reported earnings per share (EPS) of $-0.29 in its most recent fiscal year.
WillScot Holdings Corp (WSC) has a return on equity (ROE) of -5.7%. A negative ROE may indicate losses or negative equity.
WillScot Holdings Corp (WSC) has a 5-year average gross margin of 53.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 11 years of financial data for WillScot Holdings Corp (WSC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WillScot Holdings Corp (WSC) has a book value per share of $4.69, based on its most recent annual SEC filing.
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