WSCNasdaqServices-Miscellaneous Equipment Rental & LeasingFiscal year ends December 31
WillScot Holdings Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$15.65−0.23 (-1.45%)
Close on Oct 19, 2026
- Market cap
- $2.85B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
51.0%+3.2 pts over 5 years
Operating margin
8.0%−4.8 pts over 5 years
Net margin
-2.3%−8.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -4.8% | +2.1% | +12.4% | +17.5% | |
| Gross profit | -10.6% | +0.8% | +13.8% | +21.7% | |
| Operating income | -31.2% | -29.2% | +2.3% | – | |
| Free cash flow | +35.8% | +1.7% | +20.7% | +20.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -219.9% | 5.8% | -5.7% | |
| Return on assets | -2.8% | 1.7% | -0.9% | |
| Current ratio | 0.80 | 0.94 | 0.86 | |
| Debt to equity | 28.43 | 1.20 | 4.19 | |
| Net debt to EBITDA | 8.71× | 12.41× | 12.88× | |
| Interest coverage | -0.0× | 1.4× | – | |
| Inventory turnover | – | 34.0× | 24.0× | |
| Capex to revenue | 0.6% | 1.3% | 1.1% | |
| Diluted shares | 15M | 177M | 182M |
Where the cash went
Fiscal 2021 to 2025, five years combined
WillScot generated $3.37B from operations and spent $2.50B on capital expenditure, dividends and share buybacks. 6% of that went back into the business.
Generated
$3.37B
Used
$2.50B
Capital expenditure$139.17M6%Dividends$51.12M2%Share buybacks$2.31B92%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.3%
×Asset turnover0.39×
×Equity multiplier6.32×
=Return on equity, FY2025-5.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.3% | 0.39× | 6.32× | -5.7% |
| FY2024 | 1.2% | 0.39× | 5.34× | 2.5% |
| FY2023 | 20.1% | 0.40× | 4.23× | 33.7% |
| FY2022 | 15.8% | 0.37× | 3.26× | 19.1% |
| FY2021 | 9.6% | 0.29× | 2.79× | 7.9% |
| FY2020 | 5.8% | 0.30× | 3.32× | 5.8% |
| FY2019 | -1.0% | 0.38× | 5.01× | -2.0% |
| FY2018 | -3.4% | 0.36× | 3.88× | -4.7% |
| FY2017 | -33.1% | 0.29× | 6.78× | -64.4% |
| FY2016 | -7.3% | 0.39× | 78.22× | -219.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$52.99M
- Cash generatingOperating cash flow above zero$761.99M
- Return on assets improvedROA up on the prior year0.5% → -0.9%
- Earnings backed by cashOperating cash flow above net income$761.99M vs -$52.99M
- Less leverageLong-term debt to assets fell61.0% → 61.2%
- Better liquidityCurrent ratio rose0.95 → 0.86
- No dilutionShare count did not rise190M → 182M
- Gross margin improvedGross margin up on the prior year54.34% → 51.00%
- More efficientAsset turnover rose0.39 → 0.38