WillScot Holdings Corp (WSC)
WillScot Holdings Corporation (WSC) is a leading provider of adaptable workspace and mobile storage solutions throughout the United States, Canada, and Mexico. The company's operations are divided into two core divisions: Modular Solutions and Storage Solutions. The Modular Solutions segment offers a diverse range of temporary structures, including pre-fabricated and stackable office units, single-wide and sectional modular spaces (such as redi-plex), educational facilities like classrooms, ground-level offices, specialized blast-resistant modules, and expansive clearspan structures. Complementing this, their Storage Solutions segment supplies various portable containers, including refrigerated units, alongside different types of trailers. WillScot leases these flexible modular spaces and portable storage units to a broad spectrum of clients across industries such as construction, commercial and industrial enterprises, retail and wholesale trade, energy and natural resources, education, governmental and institutional bodies, and healthcare. The company primarily markets its offerings under the well-known WillScot and Mobile Mini brand names. Formerly known as WillScot Mobile Mini Holdings Corp., the organization officially adopted its current name, WillScot Holdings Corporation, in July 2024. Its corporate headquarters are situated in Phoenix, Arizona.
Sector: Services-Miscellaneous Equipment Rental & Leasing
Industry: Rental & Leasing Services
WillScot Holdings Corporation
NASDAQ:WSCIndustrials · Rental & Leasing Services
+5.72%$18.86
Prev close$17.84+5.72%Close$18.860.00%AH close$18.86
AH$18.86+0.00%vs close
Mkt Cap$3.43B
Float175.95M
O/S181.69M
Inst Own-
SI8.1%
Div Yield1.48%
Dilution
Financials Summary
Revenue$2.28B
Net Income-$52.99M
Total Assets$5.82B
Free Cash Flow$737.65M
Debt & Equity
Debt 83%
Equity 17%
Total Debt$4.14B
Total Equity$856.25M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in WSC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$5.82B
Liabilities$4.96B
Accounts Receivable$394.71M
Accounts Payable$109.86M
Inventory$45.56M
PP&E (Net)$3.79B
Goodwill$1.26B
Intangible Assets$224.09M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $2.28B | $2.4B | $2.36B | $2.14B | $1.67B | $1.27B | $1.06B | $751.41M | $445.94M | $426.61M | $453.33M | $644.42M |
| YoY Growth | -4.8% | 1.3% | 10.4% | 28.1% | 31.4% | 19.7% | 41.6% | 68.5% | 4.5% | -5.9% | -29.7% | - |
| Cost of Revenue | $1.21B | $1.09B | $1.03B | $1.01B | $828.28M | $664.56M | $650.35M | $462.03M | $280.37M | $267.44M | $290.39M | $395.57M |
| Gross Profit | $1.07B | $1.3B | $1.33B | $1.14B | $844.7M | $608.43M | $413.31M | $289.38M | $165.57M | $159.17M | $162.94M | $248.85M |
| Gross Margin | 46.8% | 54.3% | 56.4% | 53.0% | 50.5% | 47.8% | 38.9% | 38.5% | 37.1% | 37.3% | 35.9% | 38.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $581.76M | $630.71M | $596.09M | $567.49M | $480.41M | $338.39M | $271M | $254.87M | $162.35M | $689K | $139.35M | $161.97M |
| Other | -$3.1M | $407.22M | $64.32M | $56.51M | $63.92M | $108.24M | $24.78M | $4.57M | -$2.83M | $0 | $22.68M | $0 |
| Total Operating Expenses | $578.66M | $1.04B | $660.41M | $624M | $544.33M | $446.63M | $295.79M | $263.6M | $173.83M | $689K | $162.03M | $267.71M |
| Operating Income (EBIT) | $488.88M | $263.92M | $673.46M | $511.48M | $300.38M | $161.79M | $117.53M | $6.26M | -$58.32M | -$689K | -$20.77M | $53.06M |
| Operating Margin | 21.4% | 11.0% | 28.5% | 23.9% | 18.0% | 12.7% | 11.0% | 0.8% | -13.1% | -0.2% | -4.6% | 8.2% |
| Interest Expense | $222.7M | $227.31M | $205.04M | $146.28M | $116.36M | $119.32M | $122.5M | $98.43M | $119.31M | $0 | $92.03M | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12.23M | $1.25M | $9.78M | $82.92M |
| Other Income (Expense) | -$544.3M | -$227.31M | -$205.04M | -$146.28M | -$148.95M | -$158.26M | -$240.88M | -$98.43M | -$107.08M | -$86.94M | -$82.25M | -$85.24M |
| Income Before Tax (EBT) | -$55.42M | $36.6M | $468.42M | $365.2M | $151.42M | $3.53M | -$123.36M | -$92.17M | -$165.4M | $563K | -$103.02M | -$101.78M |
| Income Tax Expense | -$2.43M | $8.47M | $126.58M | $88.86M | $36.53M | -$56.04M | -$2.19M | -$38.6M | -$936K | -$24.5M | -$34.07M | -$13.18M |
| Net Income | -$52.99M | $28.13M | $476.46M | $339.54M | $160.14M | $74.13M | -$120.74M | -$49.04M | -$147.7M | $563K | -$71.59M | -$88.61M |
| Net Income Margin | -2.3% | 1.2% | 20.1% | 15.8% | 9.6% | 5.8% | -11.4% | -6.5% | -33.1% | 0.1% | -15.8% | -13.7% |
| Supplementary Data | ||||||||||||
| EPS | -0.29 | 0.15 | 2.40 | 1.40 | 0.71 | 0.44 | -0.11 | -0.56 | -7.47 | 0.04 | -4.82 | -6.19 |
| Diluted EPS | -0.29 | 0.15 | 2.36 | 1.25 | 0.69 | 0.25 | -0.11 | -0.55 | -2.12 | 0.01 | -4.82 | -6.19 |
| Weighted Average OS | 182.39M | 188.10M | 198.55M | 216.81M | 226.52M | 169.23M | 108.68M | 87.21M | 19.76M | 14.85M | 14.85M | 14.32M |
| EBITDA | $597.3M | $648.89M | $1.01B | $854.99M | $585.98M | $369.8M | $188.58M | $142.35M | $61.79M | $85.04M | $125.9M | $85.88M |
| EBITDA Margin | 26.2% | 27.1% | 42.8% | 39.9% | 35.0% | 29.0% | 17.7% | 18.9% | 13.9% | 19.9% | 27.8% | 13.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $14.59M | $9M | $10.96M | $7.39M | $6.39M | $24.94M | $3.04M | $8.96M | $9.19M | $188K | $1.01M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $14.59M | $9M | $10.96M | $7.39M | $6.39M | $24.94M | $3.04M | $8.96M | $9.19M | $188K | $1.01M |
| Accounts Receivable | $394.71M | $430.38M | $451.13M | $409.77M | $351.29M | $330.94M | $247.6M | $206.62M | $97.68M | $101.43M | $0 |
| Inventory | $45.56M | $47.47M | $47.41M | $41.03M | $29.8M | $23.73M | $15.39M | $16.22M | $10.08M | $8.94M | $10.69M |
| Other Current Assets | $70.2M | $70.66M | $59.6M | $62.85M | $58.81M | $12M | $13.15M | $15.35M | $6M | -$110.36M | $0 |
| Total Current Assets | $525.05M | $557.51M | $569.1M | $521.04M | $483.04M | $421.57M | $292.59M | $256.35M | $127.78M | $262K | $1.01M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $3.79B | $696.21M | $3.97B | $3.6B | $3.25B | $3.47B | $2.24B | $2.11B | $1.12B | $899.12M | $97.72M |
| Goodwill | $1.26B | $1.2B | $1.18B | $1.01B | $1.01B | $1.17B | $235.18M | $247.02M | $28.61M | $56.81M | $61.78M |
| Intangible Assets | $224.09M | $251.16M | $419.71M | $419.13M | $442.88M | $495.95M | $126.63M | $131.8M | $126.26M | $125M | $157.72M |
| Long-Term Investments | $0 | $6.67M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $256.63M | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.34B | $0 |
| Other Long-Term Assets | $15.21M | $2.76B | $4.63M | $274.7M | $579.36M | $16.08M | $4.44M | $4.28M | $4.28M | $501.34M | $182.87M |
| Total Long-Term Assets | $5.29B | $4.92B | $5.57B | $5.31B | $5.29B | $5.15B | $2.61B | $2.5B | $1.28B | $501.34M | $500.09M |
| Other Assets | $0 | $557.51M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $5.82B | $6.03B | $6.14B | $5.83B | $5.77B | $5.57B | $2.9B | $2.75B | $1.41B | $501.6M | $501.1M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $109.86M | $96.6M | $86.12M | $109.35M | $102.56M | $106.93M | $109.93M | $90.35M | $57.05M | $33.08M | $0 |
| Short-Term Debt | $101.85M | $24.6M | $18.79M | $13.32M | $11.97M | $16.52M | $0 | $1.96M | $1.88M | $1.89M | $14.8M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $237.32M | $250.79M | $224.52M | $203.79M | $152.34M | $135.49M | $82.98M | $71.78M | $45.18M | $28.7M | -$69.39M |
| Other Current Liabilities | $162.07M | $25.06M | $45.56M | $75.44M | $95.18M | $50.29M | $0 | $0 | $0 | -$105.75M | -$69.26M |
| Total Current Liabilities | $611.1M | $585.01M | $562.02M | $561.94M | $517.64M | $448.67M | $320.41M | $269.02M | $155.73M | $76K | $133K |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $3.67B | $3.56B | $3.45B | $3.06B | $2.67B | $2.45B | $1.63B | $1.67B | $624.87M | $1.33B | $1.37B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $12.34M | $7.72M | $5.38M | -$1.45B | $0 |
| Long-Term Deferred Tax Liabilities | $492.33M | $505.91M | $554.27M | $401.45M | $305.67M | $307.54M | $70.69M | $90.94M | $139.85M | $118.17M | $0 |
| Other Long-Term Liabilities | -$184.46M | $41.02M | $34.02M | $66.3M | $111.96M | $114.55M | $34.23M | -$6.37M | -$17.5M | -$1.43B | -$1.35B |
| Total Long-Term Liabilities | $4.35B | $4.43B | $4.31B | $3.7B | $3.26B | $3.06B | $1.87B | $1.78B | $770.46M | $19.5M | $19.5M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.96B | $5.02B | $4.88B | $4.26B | $3.78B | $3.51B | $2.19B | $2.05B | $926.19M | $19.58M | $19.63M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $55.65M |
| Common Stock | $19K | $19K | $20K | $21K | $22K | $23K | $12K | $12K | $9K | $477.03M | $476.47M |
| Retained Earnings | -$799.95M | -$746.96M | -$775.09M | -$1.25B | -$1.59B | -$1.75B | -$1.69B | -$1.68B | -$1.64B | $542K | -$21K |
| Comprehensive Income & Other | -$69.45M | -$70.63M | -$52.77M | -$70.12M | -$29.07M | -$37.21M | -$62.77M | -$68.03M | -$49.5M | -$57M | -$55.65M |
| Other Stockholders' Equity | $1.66B | $1.77B | $2.04B | $2.82B | $3.59B | $3.82B | $2.33B | $2.32B | $2.07B | $4.46M | $5.02M |
| Total Equity | $856.25M | $1.02B | $1.26B | $1.57B | $2B | $2.06B | $644.37M | $638.22M | $435.62M | $482.03M | $481.46M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $64.59M | $63.98M | $48.93M | $0 | $0 |
| Total Liabilities and Equity | $5.82B | $6.03B | $6.14B | $5.83B | $5.77B | $5.57B | $2.83B | $2.69B | $1.36B | $501.6M | $501.1M |
| Supplementary Data | |||||||||||
| Total Debt | $4.14B | $3.98B | $3.8B | $3.3B | $2.9B | $2.7B | $1.78B | $1.68B | $626.75M | $1.33B | $1.38B |
| Net Debt | $4.13B | $3.97B | $3.79B | $3.29B | $2.9B | $2.68B | $1.78B | $1.67B | $617.56M | $1.33B | $1.38B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | -$52.99M | $28.13M | $476.46M | $339.54M | $160.14M | $75.34M | -$121.17M | -$53.57M | -$149.81M | $563K | -$71.59M | -$88.61M |
| Depreciation & Amortization | $430.02M | $384.97M | $338.65M | $343.51M | $318.2M | $246.95M | $189.44M | $136.47M | $107.88M | $78M | $136.89M | $32.82M |
| Deferred Income Tax | -$7.01M | -$45.32M | $141.64M | $100.85M | $36.56M | -$55.16M | -$2.62M | -$40.19M | $12.96M | -$10.36M | -$44.4M | $0 |
| Stock-Based Compensation | $38.43M | $35.97M | $34.49M | $29.61M | $26.18M | $9.88M | $6.69M | $3.44M | $2.97M | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | -$19.25M | -$34.52M | -$76.36M | -$94.46M | -$105.05M | -$26.72M | -$63.65M | -$36.45M | -$20.56M | -$4.11M | $8.06M | -$5.99M |
| Inventory | $1.86M | -$529K | -$3.28M | -$12.35M | -$9.08M | $2.77M | $869K | -$1.24M | $682K | $550K | -$1.23M | -$1.2M |
| Accounts Payable | $42.56M | $0 | -$14.84M | $9.44M | $27.31M | -$16.05M | $4.87M | -$14.46M | $39.77M | -$58K | $3.95M | $0 |
| Other Working Capital | -$25.06M | $14.92M | $2.66M | $43.43M | $26.7M | -$3.18M | $19.22M | $37.15M | -$43.37M | -$73K | $5.05M | $38.77M |
| Total Working Capital Change | $117K | -$20.13M | -$91.81M | -$53.93M | -$60.13M | -$43.17M | -$38.69M | -$15.01M | -$23.48M | -$131K | $15.83M | $31.58M |
| Other Non-Cash Items | $353.43M | $178.03M | -$138.19M | -$14.92M | $58.94M | $70.97M | $138.93M | $6.01M | $48.13M | $268.1M | -$57.93M | $199.24M |
| Net Cash from Operating | $761.99M | $561.64M | $761.24M | $744.66M | $539.9M | $304.81M | $172.57M | $37.15M | -$1.36M | $431K | $119.86M | $175.04M |
| Investing Activities | ||||||||||||
| Capital Expenditures | -$24.33M | -$299.29M | -$249.21M | -$486.8M | -$309M | -$188.84M | -$213.45M | -$165.5M | -$116.15M | -$71.43M | -$184.42M | -$91.94M |
| Acquisitions | -$144.7M | -$121.22M | -$561.63M | $104.99M | -$147.17M | $17.17M | $0 | -$1.08B | -$237.15M | $29M | $0 | $0 |
| Purchases of Investments | -$806K | -$7.7M | -$7.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $1.24M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$248.87M | $65.86M | $468.55M | $72.48M | $72.12M | $46.3M | $60.86M | $31.45M | -$39.35M | -$1.25M | -$8.73M | -$50.58M |
| Net Cash from Investing | -$417.47M | -$362.35M | -$350M | -$309.33M | -$384.05M | -$125.36M | -$152.58M | -$1.22B | -$392.65M | -$1.25M | -$193.16M | -$142.53M |
| Financing Activities | ||||||||||||
| Debt Repaid | $162.52M | -$101.8M | -$419.38M | -$333.27M | -$199.1M | $30.02M | $16.55M | -$1.07B | $149.82M | $29.39M | -$76.76M | - |
| Common Stock Issuance | $10.27M | $253K | $498K | $11.23M | $7.48M | $10.62M | $921K | $147.2M | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$99.86M | -$278.27M | -$818.18M | -$751.79M | -$363.59M | -$21.78M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$51.12M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$37.29M | -$23.9M | -$20.63M | -$22.07M | -$10.88M | -$117.78M | -$10.43M | -$36.58M | -$25.12M | $0 | $0 | -$37.04M |
| Net Cash from Financing | -$340.52M | -$200.12M | -$418.94M | -$429.37M | -$167.89M | -$158.96M | -$26.06M | $1.18B | $396.83M | -$31.39M | $76.76M | -$37.04M |
| Forex Effect | $1.6M | -$1.13M | $882K | -$882K | -$206K | $1.4M | $166K | -$211K | $202K | -$241K | -$441K | -$437K |
| Net Change in Cash | $5.59M | -$1.96M | -$6.82M | $5.08M | -$12.24M | $21.89M | -$5.91M | -$227K | $3.02M | -$820K | $3.02M | -$4.97M |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | $761.99M | $561.64M | $761.24M | $744.66M | $539.9M | $304.81M | $172.57M | $37.15M | -$1.36M | $431K | $119.86M | $175.04M |
| Capital Expenditure | -$24.33M | -$299.29M | -$249.21M | -$486.8M | -$309M | -$188.84M | -$213.45M | -$165.5M | -$116.15M | -$71.43M | -$184.42M | -$91.94M |
| Free Cash Flow | $737.65M | $262.35M | $512.03M | $257.86M | $230.91M | $115.97M | -$40.88M | -$128.36M | -$117.51M | -$71M | -$64.56M | $83.1M |
| Cash at Beginning | $9M | $10.96M | $17.77M | $12.7M | $24.94M | $3.04M | $8.96M | $9.19M | $6.16M | $1.01M | $6.28M | $11.25M |
| Cash at End | $14.59M | $9M | $10.96M | $17.77M | $12.7M | $24.94M | $3.04M | $8.96M | $9.19M | $188K | $9.3M | $6.28M |