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WillScot Holdings Corporation provides turnkey temporary space solutions in the United States, Canada, and Mexico. The company leases, sells, delivers, and installs modular space solutions and portable storage products. It offers modular space solutions, such as modular office complexes, mobile offices, classrooms, blast-resistant modules, clearspan structures, and sanitation solutions; and portable storage solutions, including portable storage and climate-controlled containers and trailers. The company also provides workstations, furniture, appliances, media packages, power and solar solutions, telematics, connectivity and data solutions, security and protection products, entrance packages, electrical and lighting products, organization and space optimization assets, perimeter solutions, and other items. The company serves customers in the construction and infrastructure, commercial and industrial, and energy and natural resources markets, as well as governments and institutions. The company was formerly known as WillScot Mobile Mini Holdings Corp. and changed its name to WillScot Holdings Corporation in July 2024. The company was founded in 1944 and is headquartered in Scottsdale, Arizona.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.3B | $606M | $-53M | $420M | -6.2% | -4.8% | -288.4% |
| 2024 | $2.4B | $649M | $28M | $262M | 2.8% | 1.3% | -94.1% |
| 2023 | $2.4B | $1.0B | $476M | $512M | 37.8% | 10.4% | 40.3% |
| 2022 | $2.1B | $855M | $340M | $258M | 21.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,142.62 | 2,364.77 | 2,395.72 | 2,281.45 |
| Operating Revenue | - | 2,142.62 | 2,364.77 | 2,395.72 | 2,281.45 |
| Cost Of Revenue | - | 1,007.14 | 1,030.90 | 1,093.88 | 1,117.86 |
| Gross Profit | - | 1,135.48 | 1,333.87 | 1,301.84 | 1,163.59 |
| Operating Expense | - | 623.20 | 653.66 | 716.23 | 679.74 |
| Selling General And Administration | - | 567.49 | 596.09 | 630.71 | 581.76 |
| Total Expenses | - | 1,630.34 | 1,684.55 | 1,810.11 | 1,797.60 |
| Operating Income | - | 512.28 | 680.21 | 585.61 | 483.84 |
| Total Operating Income As Reported | - | 511.48 | 673.46 | 263.92 | 181.45 |
| EBITDA | - | 854.99 | 1,012.11 | 648.89 | 606.11 |
| Normalized EBITDA | - | 855.79 | 1,018.87 | 970.58 | 913.86 |
| EBIT | - | 511.48 | 673.46 | 263.92 | 176.09 |
| Interest Expense | - | 146.28 | 205.04 | 227.31 | 231.51 |
| Net Interest Income | - | -146.28 | -205.04 | -227.31 | -231.51 |
| Other Income Expense | - | -0.80 | -6.75 | -321.69 | -307.75 |
| Interest Expense Non Operating | - | 146.28 | 205.04 | 227.31 | 231.51 |
| Net Non Operating Interest Income Expense | - | -146.28 | -205.04 | -227.31 | -231.51 |
| Pretax Income | - | 365.20 | 468.42 | 36.60 | -55.42 |
| Tax Provision | - | 88.86 | 126.58 | 8.48 | -2.43 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.19 | -1.82 | -74.47 | -13.54 |
| Net Income Continuous Operations | - | 276.34 | 341.84 | 28.13 | -52.99 |
| Net Income From Continuing And Discontinued Operation | - | 339.54 | 476.46 | 28.13 | -52.99 |
| Net Income From Continuing Operation Net Minority Interest | - | 276.34 | 341.84 | 28.13 | -52.99 |
| Net Income | - | 339.54 | 476.46 | 28.13 | -52.99 |
| Net Income Common Stockholders | - | 339.54 | 476.46 | 28.13 | -52.99 |
| Net Income Including Noncontrolling Interests | - | 339.54 | 476.46 | 28.13 | -52.99 |
| Normalized Income | - | 276.95 | 346.77 | 275.35 | 241.22 |
| Diluted NI Availto Com Stockholders | - | 339.54 | 476.46 | 28.13 | -52.99 |
| Basic Average Shares | - | 216.81 | 198.55 | 188.10 | 182.39 |
| Diluted Average Shares | - | 221.40 | 201.85 | 190.29 | 182.39 |
| Reconciled Depreciation | - | 343.51 | 338.65 | 384.97 | 430.02 |
| Reconciled Cost Of Revenue | - | 726.01 | 765.16 | 791.74 | 783.89 |
| Total Unusual Items | - | -0.80 | -6.75 | -321.69 | -307.75 |
| Total Unusual Items Excluding Goodwill | - | -0.80 | -6.75 | -321.69 | -307.75 |
| Minority Interests | 0 | 0 | - | - | - |
| Net Income Discontinuous Operations | - | 63.20 | 134.61 | 0 | 0 |
| Special Income Charges | - | 0.09 | 0 | -321.10 | -307.54 |
| Other Special Charges | 6 | - | - | 180 | 5.36 |
| Impairment Of Capital Assets | - | 0 | 0 | 132.54 | 0 |
| Restructuring And Mergern Acquisition | - | -0.09 | 0 | 8.56 | 302.18 |
| Gain On Sale Of Security | - | -0.89 | -6.75 | -0.59 | -0.21 |
| Depreciation Amortization Depletion Income Statement | - | 62.38 | 72.92 | 82.83 | 96.05 |
| Depreciation And Amortization In Income Statement | - | 62.38 | 72.92 | 82.83 | 96.05 |
| Other Operating Expenses | - | -6.67 | -15.35 | 2.70 | 1.93 |
| Average Dilution Earnings | 0 | 0 | - | - | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| WillScot Holdings Corporationthis co. | WSC | $4.8B | -90.45 | 5.60 | -6.2% | 14.32 |
| VSE Corporation | VSEC | $5.2B | 440.96 | 3.59 | 0.8% | 41.96 |
| ADT Inc. | ADT | $5.1B | 8.60 | 1.36 | 15.8% | 4.79 |
| UniFirst Corporation | UNF | $4.9B | 33.11 | 2.26 | 6.8% | 14.69 |
| AAR Corp. | AIR | $4.6B | 367.52 |
| - |
| - |
| - |
| - |
| - |
| - |
| 3.79 |
| 1.0% |
| 32.71 |
| Resideo Technologies, Inc. | REZI | $4.6B | - | 1.57 | -19.3% | - |
| RXO, Inc. | RXO | $4.6B | -45.57 | 2.96 | -6.5% | 144.72 |
| Mirion Technologies, Inc. | MIR | $4.5B | 154.78 | 2.39 | 1.5% | 24.76 |
| CSW Industrials, Inc. | CSW | $4.4B | 39.29 | 4.19 | 10.7% | 22.62 |
| Peer Median | - | 39.29 | 2.67 | 1.3% | 24.76 | |