WSC Industrials

WillScot Holdings Corporation

$19.59+1.71%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Industrials
Industry: Rental & Leasing Services
Country: United States
Market cap: 3.5B USD
Enterprise value: 6.4B USD
Full-time employees: 4,700

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.31 vs a peer median of 0.64), less short-term liquidity (current ratio 0.81 vs a peer median of 1.62) and more debt relative to equity (3.84× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.31 vs peers 0.64), less liquidity (current ratio 0.81 vs peers 1.62) and more debt vs equity (3.84× vs peers 0.40×)
About average: valuation

Ranks #2,108 of 2,308 industrials companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Earnings slid into a loss. Loss per share this year after a profit last year.
WillScot made a loss per share in its latest year after a profit the year before.
Much more borrowing than peers. Debt is 3.8× equity vs a peer median of 0.4×.Debt is 3.8× equity vs peers 0.4×.
Debt is 3.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 3.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Operating margin at a 6-year low. 8.0% in 2025, the weakest of the last 6 years.
WillScot's operating margin fell to 8.0% in 2025, its lowest in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 92% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, WillScot looks cheaper than 92% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

23/ 100▼ 1 since Oct 27 close

Oct 5 25 → Nov 4 23 (-2)

Valuation

Is the price right?

49/100

Moderate▼ 4 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 53 → 49

Share price +11.0%-5
Company's reported figures updated+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ FCF yield
▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-1.9%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield3.5%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.81Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield19.2%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 4.19Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield25.7%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

19/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.21Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth-0.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.72Sector median: 0.0421 · MAD: 0.0625

Revenue growth-2.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.90Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

22/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin6.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.24Sector median: 0.0773 · MAD: 0.0507

Return on assets-1.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.78Sector median: 0.0311 · MAD: 0.0241

Return on invested capital2.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.80Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin50.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-7.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.31

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.43Sector median: 0.6440 · MAD: 0.2745

Current ratio0.81×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.50Sector median: 1.6180 · MAD: 0.5360

Debt / equity3.84×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -6.37Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about WillScot

Is WillScot getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 23/100, down 1 since Oct 28, 2026.
How is WillScot valued vs its peers?: Priced about in line with its peers. Valuation scores 49/100 against 2,459 industrials peers. Free cash flow yield 19.2% vs a peer median of 3.7% (stronger than 92% of peers).Free cash flow yield 19.2% vs peers 3.7% (stronger than 92% of peers). Earnings yield -1.9% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -1.9% vs peers 3.8% (weaker than 100% of peers).
Is WillScot growing?: More slowly than most of its peers. Growth scores 19/100 against 2,459 industrials peers. Revenue growth -2.5% vs a peer median of 4.4% (weaker than 74% of peers).Revenue growth -2.5% vs peers 4.4% (weaker than 74% of peers).
How profitable is WillScot?: Less profitable than most of its peers. Profitability scores 22/100 against 2,459 industrials peers. Return on assets -1.2% vs a peer median of 3.1% (weaker than 87% of peers).Return on assets -1.2% vs peers 3.1% (weaker than 87% of peers).
How risky is WillScot?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 3.84× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 3.84× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.3B USD	2.3B USD	+1.0%
Net income (12 months)	−67.9M USD	−68.9M USD	+1.4%
Operating margin	7.0%	6.5%	−0.5 pts
Free cash flow (12 months)	723.1M USD	681.6M USD	−5.7%
Debt	3.5B USD	3.5B USD	−0.5%
Cash	15.5M USD	18.2M USD	+16.9%
Shares outstanding	181.0M	181.2M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Rental & Leasing Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	50.5%	53.0%	56.4%	54.3%	51.0%	▼ 3.3 pts
Operating margin	18.0%	23.9%	28.5%	11.0%	8.0%	▼ 3.1 pts
Net margin	9.6%	15.8%	20.1%	1.2%	-2.3%	▼ 3.5 pts
Return on assets (ROA)	2.8%	5.8%	7.8%	0.5%	-0.9%	▼ 1.4 pts
Return on equity (ROE)	8.0%	21.7%	37.8%	2.8%	-6.2%	▼ 9.0 pts
Free cash flow margin	30.4%	32.7%	31.3%	22.7%	32.3%	▲ 9.7 pts
Current ratio	0.93×	0.93×	1.01×	0.95×	0.86×	▼ 9.8%
Quick ratio	0.88×	0.85×	0.93×	0.87×	0.78×	▼ 10%
Debt to equity	1.34×	1.97×	2.82×	3.64×	4.19×	▲ 15%
Interest coverage	2.58×	3.50×	3.28×	—	—	—

WSC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.31 vs a peer median of 0.64), less short-term liquidity (current ratio 0.81 vs a peer median of 1.62) and more debt relative to equity (3.84× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.31 vs peers 0.64), less liquidity (current ratio 0.81 vs peers 1.62) and more debt vs equity (3.84× vs peers 0.40×)

About average: valuation

Ranks #2,108 of 2,308 industrials companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Earnings slid into a loss. Loss per share this year after a profit last year.

WillScot made a loss per share in its latest year after a profit the year before.

Much more borrowing than peers. Debt is 3.8× equity vs a peer median of 0.4×.Debt is 3.8× equity vs peers 0.4×.

Debt is 3.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 3.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Operating margin at a 6-year low. 8.0% in 2025, the weakest of the last 6 years.

WillScot's operating margin fell to 8.0% in 2025, its lowest in the 6 years of filings we have.

Valuation signals disagree. Cheaper than 92% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, WillScot looks cheaper than 92% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about WillScot

Is WillScot getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 23/100, down 1 since Oct 28, 2026.

How is WillScot valued vs its peers?

Priced about in line with its peers. Valuation scores 49/100 against 2,459 industrials peers. Free cash flow yield 19.2% vs a peer median of 3.7% (stronger than 92% of peers).Free cash flow yield 19.2% vs peers 3.7% (stronger than 92% of peers). Earnings yield -1.9% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -1.9% vs peers 3.8% (weaker than 100% of peers).

Is WillScot growing?

More slowly than most of its peers. Growth scores 19/100 against 2,459 industrials peers. Revenue growth -2.5% vs a peer median of 4.4% (weaker than 74% of peers).Revenue growth -2.5% vs peers 4.4% (weaker than 74% of peers).

How profitable is WillScot?

Less profitable than most of its peers. Profitability scores 22/100 against 2,459 industrials peers. Return on assets -1.2% vs a peer median of 3.1% (weaker than 87% of peers).Return on assets -1.2% vs peers 3.1% (weaker than 87% of peers).

How risky is WillScot?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 3.84× vs a peer median of 0.40× (weaker than 100% of peers).Debt / equity 3.84× vs peers 0.40× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.3B USD

2.3B USD

+1.0%

Net income (12 months)

−67.9M USD

−68.9M USD

+1.4%

Operating margin

7.0%

6.5%

−0.5 pts

Free cash flow (12 months)

723.1M USD

681.6M USD

−5.7%

Debt

3.5B USD

3.5B USD

−0.5%

Cash

15.5M USD

18.2M USD

+16.9%

Shares outstanding

181.0M

181.2M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

50.5%

53.0%

56.4%

54.3%

51.0%

▼ 3.3 pts

Operating margin

18.0%

23.9%

28.5%

11.0%

8.0%

▼ 3.1 pts

Net margin

9.6%

15.8%

20.1%

1.2%

-2.3%

▼ 3.5 pts

Return on assets (ROA)

2.8%

5.8%

7.8%

0.5%

-0.9%

▼ 1.4 pts

Return on equity (ROE)

8.0%

21.7%

37.8%

2.8%

-6.2%

▼ 9.0 pts

Free cash flow margin

30.4%

32.7%

31.3%

22.7%

32.3%

▲ 9.7 pts

Current ratio

0.93×

1.01×

0.95×

0.86×

▼ 9.8%

Quick ratio

0.88×

0.85×

0.93×

0.87×

0.78×

▼ 10%

Debt to equity

1.34×

1.97×

2.82×

3.64×

4.19×

▲ 15%

Interest coverage

2.58×

3.50×

3.28×

—