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WillScot Holdings Corp

WSC Clue Score36
United States Fiscal year ends December CIK 0001647088
$17.07 +1.31% Close, 9 Oct 2026
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Price $17.07 −45.86% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 30 Nov 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue426.6Operating income−3.2Net income−30.9EPS, diluted0.01Fiscal year 2017Revenue445.9 +4.5%Operating income−58.3Net income−147.7Fiscal year 2018Revenue751.4 +68.5%Operating income6.3Net income−25.2EPS, diluted−0.53Fiscal year 2019Revenue1,063.7 +41.6%Operating income117.5Net income−11.1EPS, diluted−1.11Fiscal year 2020Revenue1,273.0 +19.7%Operating income161.8Net income74.0EPS, diluted0.25Fiscal year 2021Revenue1,673.0 +31.4%Operating income300.4Net income160.1 +116.4%EPS, diluted0.69Fiscal year 2022Revenue2,142.6 +28.1%Operating income511.5Net income339.5 +112.0%EPS, diluted1.53Fiscal year 2023Revenue2,364.8 +10.4%Operating income673.5Net income476.5 +40.3%EPS, diluted2.36Fiscal year 2024Revenue2,395.7 +1.3%Operating income263.9Net income28.1 −94.1%EPS, diluted0.15Fiscal year 2025Revenue2,281.4 −4.8%Operating income181.5Net income−53.0 −288.4%EPS, diluted−0.29
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 426.6 445.9 751.4 1,063.7 1,273.0 1,673.0 2,142.6 2,364.8 2,395.7 2,281.4
Growth +4.5% +68.5% +41.6% +19.7% +31.4% +28.1% +10.4% +1.3% −4.8%
Operating income −3.2 −58.3 6.3 117.5 161.8 300.4 511.5 673.5 263.9 181.5
Net income −30.9 −147.7 −25.2 −11.1 74.0 160.1 339.5 476.5 28.1 −53.0
Growth +116.4% +112.0% +40.3% −94.1% −288.4%
EPS, diluted 0.01 n/a −0.53 −1.11 0.25 0.69 1.53 2.36 0.15 −0.29

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin39.4%Operating margin−0.7%Net margin−7.3%Free cash flow margin13.2%Fiscal year 2017Gross margin37.1%Operating margin−13.1%Net margin−33.1%Free cash flow margin−1.3%Fiscal year 2018Gross margin38.5%Operating margin0.8%Net margin−3.4%Free cash flow margin4.3%Fiscal year 2019Gross margin38.9%Operating margin11.0%Net margin−1.0%Free cash flow margin15.4%Fiscal year 2020Gross margin47.8%Operating margin12.7%Net margin5.8%Free cash flow margin22.7%Fiscal year 2021Gross margin50.5%Operating margin18.0%Net margin9.6%Free cash flow margin30.4%Fiscal year 2022Gross margin53.0%Operating margin23.9%Net margin15.8%Free cash flow margin32.7%Fiscal year 2023Gross margin56.4%Operating margin28.5%Net margin20.1%Free cash flow margin31.3%Fiscal year 2024Gross margin54.3%Operating margin11.0%Net margin1.2%Free cash flow margin22.7%Fiscal year 2025Gross margin51.0%Operating margin8.0%Net margin−2.3%Free cash flow margin32.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 39.4% 37.1% 38.5% 38.9% 47.8% 50.5% 53.0% 56.4% 54.3% 51.0%
Operating margin −0.7% −13.1% 0.8% 11.0% 12.7% 18.0% 23.9% 28.5% 11.0% 8.0%
Net margin −7.3% −33.1% −3.4% −1.0% 5.8% 9.6% 15.8% 20.1% 1.2% −2.3%
Free cash flow margin 13.2% −1.3% 4.3% 15.4% 22.7% 30.4% 32.7% 31.3% 22.7% 32.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow58.7Capital expenditure−2.4Free cash flow56.4Fiscal year 2017Operating cash flow−1.4Capital expenditure−4.4Free cash flow−5.8 −110.3%Fiscal year 2018Operating cash flow37.1Capital expenditure−4.6Free cash flow32.5Fiscal year 2019Operating cash flow172.6Capital expenditure−8.3Free cash flow164.2 +404.9%Fiscal year 2020Operating cash flow304.8Capital expenditure−16.5Free cash flow288.4 +75.6%Fiscal year 2021Operating cash flow539.9Capital expenditure−30.5Free cash flow509.4 +76.7%Fiscal year 2022Operating cash flow744.7Capital expenditure−43.7Free cash flow701.0 +37.6%Fiscal year 2023Operating cash flow761.2Capital expenditure−22.2Free cash flow739.0 +5.4%Dividends paid0.0Fiscal year 2024Operating cash flow561.6Capital expenditure−18.4Free cash flow543.2 −26.5%Dividends paid0.0Fiscal year 2025Operating cash flow762.0Capital expenditure−24.3Free cash flow737.7 +35.8%Dividends paid−51.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 58.7 −1.4 37.1 172.6 304.8 539.9 744.7 761.2 561.6 762.0
Capital expenditure −2.4 −4.4 −4.6 −8.3 −16.5 −30.5 −43.7 −22.2 −18.4 −24.3
Free cash flow 56.4 −5.8 32.5 164.2 288.4 509.4 701.0 739.0 543.2 737.7
Growth −110.3% +404.9% +75.6% +76.7% +37.6% +5.4% −26.5% +35.8%
Dividends paid n/a n/a n/a n/a n/a n/a n/a 0.0 0.0 −51.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash6.2Shareholders’ equity23.1Fiscal year 2017Cash9.2Shareholders’ equity435.6Fiscal year 2018Cash9.0Shareholders’ equity638.2Fiscal year 2019Cash3.0Total debt1,632.6Net cash (debt)−1,629.5Shareholders’ equity490.6Debt to equity3.33Fiscal year 2020Cash24.9Shareholders’ equity2,063.9Fiscal year 2021Cash6.4Shareholders’ equity1,996.8Fiscal year 2022Cash7.4Shareholders’ equity1,565.3Fiscal year 2023Cash11.0Shareholders’ equity1,261.3Fiscal year 2024Cash9.0Shareholders’ equity1,018.6Fiscal year 2025Cash14.6Shareholders’ equity856.3
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 6.2 9.2 9.0 3.0 24.9 6.4 7.4 11.0 9.0 14.6
Total debt n/a n/a n/a 1,632.6 n/a n/a n/a n/a n/a n/a
Net cash (debt) n/a n/a n/a −1,629.5 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 23.1 435.6 638.2 490.6 2,063.9 1,996.8 1,565.3 1,261.3 1,018.6 856.3
Debt to equity n/a n/a n/a 3.33 n/a n/a n/a n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
39.4% 37.1% 38.5% 38.9% 47.8% 50.5% 53.0% 56.4% 54.3% 51.0%
−0.7% −13.1% 0.8% 11.0% 12.7% 18.0% 23.9% 28.5% 11.0% 8.0%
−20.5% −37.1% −9.1% −11.6% 0.3% 9.1% 17.0% 19.8% 1.5% −2.4%
−7.3% −33.1% −3.4% −1.0% 5.8% 9.6% 15.8% 20.1% 1.2% −2.3%
13.2% −1.3% 4.3% 15.4% 22.7% 30.4% 32.7% 31.3% 22.7% 32.3%
Spending
32.6% 36.4% 31.3% 25.5% 26.6% 28.7% 26.5% 25.2% 26.3% 25.5%
0.6% 1.0% 0.6% 0.8% 1.3% 1.8% 2.0% 0.9% 0.8% 1.1%
n/a n/a n/a n/a −1,586.2% 24.1% 24.3% 27.0% 23.2% n/a
Returns
−133.7% −33.9% −4.0% −2.3% 3.6% 8.0% 21.7% 37.8% 2.8% −6.2%
−1.8% −10.5% −0.9% −0.4% 1.3% 2.8% 5.8% 7.8% 0.5% −0.9%
Balance and payout
n/a n/a n/a 3.33 n/a n/a n/a n/a n/a n/a
98.6% 65.7% 74.5% 80.8% 63.0% 65.4% 73.1% 79.5% 83.1% 85.3%
n/a n/a n/a n/a n/a n/a n/a 0.0% 0.0% n/a
n/a n/a n/a n/a n/a n/a n/a 0.0% 0.0% 6.9%