WillScot Mobile Mini Holdings (WSC) AI Stock Analysis

• Market Cap: $3.27B
• Dividend Yield: 1.44%
• Average Volume (3M): 2.03M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.99
• Revenue Growth: -3.64%
• EPS Growth: 867.62%
• Country: US
• Employees: 4,500
• Sector: Industrials
• Sector Strength: 72
• Industry: Rental & Leasing Services
• EPS (TTM): 0.29
• Shares Outstanding: 180,854,430
• 10 Day Avg. Volume: 2,236,799
• 30 Day Avg. Volume: 2,026,065
• PEG Ratio: 0.22
• Price to Book (P/B): 4.01
• Price to Sales (P/S): 1.51
• P/FCF Ratio: 4.66
• Enterprise Value/Market Cap: 2.27
• Enterprise Value/Revenue: 3.25
• Enterprise Value/Gross Profit: 6.66
• Enterprise Value/Ebitda: 14.66
• 1Y Price Target: $22.73
• Price Target Upside: 25.58% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 1.04
• Revenue Forecast (FY): $2.18B

• Rating: 51 Neutral
• Price Target: $17.00 ▼(-6.08% Downside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is held back primarily by weakened profitability (net loss, sharply lower EBITDA margin) and elevated leverage despite strong operating/free cash flow. Technicals are moderately supportive (above key short- and mid-term averages, positive MACD) and the earnings call suggests potential improvement via commercial momentum and cost savings, but near-term guidance points to declines and restructuring-related headwinds.

Positive Factors

Strong cash generation

WillScot’s material improvement in operating and free cash flow is a durable strength: recurring rental cash receipts and working-capital dynamics produced FCF that can fund capex, deleveraging, and strategic investments. Over the next 2–6 months strong cash conversion supports liquidity and execution of the network optimization without immediate financing stress.

Solid unit economics (gross margin)

A ~51% gross margin reflects durable rental and service economics that help absorb cyclical revenue swings. High gross profitability implies pricing power and margin buffer at the unit level, supporting recovery of operating margins as utilization and higher-value fleet mix improve over a multi-quarter horizon.

Growth in higher-value niches

Rapid expansion into cold storage and data-center deployments diversifies revenue away from seasonal portable storage and raises average yields. These structural end-market trends support longer-duration contracts and higher per-unit economics, improving resilience and upside to margins and utilization over coming quarters.

Negative Factors

Elevated leverage

Rising leverage and declining equity reduce financial flexibility and raise refinancing and covenant risk if earnings falter. With interest expense guided near ~$215M and sizable fleet/real-estate actions planned, the balance sheet constraint will be a persistent governance and capital-allocation consideration over the next several quarters.

Profitability deterioration

A sharp decline in EBITDA margin and a net loss signal structural profit-pressure from mix, costs, and one-offs. Sustaining margins will require consistent utilization improvement and cost discipline; until adjusted EBITDA stabilizes, the company faces constrained internal funding for growth and higher sensitivity to cyclical revenue drops.

Restructuring & fleet disposal costs

The network optimization and accelerated depreciation materially reduce fleet book value and will create near-term cash costs and revenue disruption as lower-yield units are removed. Execution risk and cash outlays weigh on near-term free cash flow and comparability, and benefits (utilization gain, real-estate savings) will accrue gradually over multiple quarters.

WillScot Mobile Mini Holdings Business Overview & Revenue Model

Company Description

WillScot Holdings Corporation provides workspace and portable storage solutions in the United States, Canada, and Mexico. It operates in two segments, Modular Solutions and Storage Solutions. Its modular solutions include panelized and stackable offices, single-wide modular space units, section modulars and redi-plex, classrooms, ground level offices, blast-resistant modules, clearspan structures, and other modular space; and portable storage solutions, such as portable and cold storage containers, as well as trailers. The company leases modular space and portable storage units to customers in the construction, commercial and industrial, retail and wholesale trade, energy and natural resources, education, government and institutions, and healthcare markets. The company offers its solutions primarily under the WillScot and Mobile Mini brand names. The company was formerly known as WillScot Mobile Mini Holdings Corp. and changed its name to WillScot Holdings Corporation in July 2024. WillScot Mobile Mini Holdings Corp. is headquartered in Phoenix, Arizona.

How the Company Makes Money

WillScot Mobile Mini primarily makes money by leasing temporary space and storage assets to customers on a contractual basis. The core revenue stream is recurring rental income from (1) modular buildings (e.g., temporary offices, classrooms, and other modular structures) and (2) portable storage containers. Customers typically pay periodic lease charges for the right to use these units for the duration of a project or interim capacity need, with pricing influenced by unit type, lease length, availability, and service requirements. In addition to base rental/lease revenue, the company generates ancillary service revenue tied to its leasing activity. This commonly includes delivery and pickup (transport/logistics), installation and setup, relocation, maintenance/repairs, and other on-site or value-added services associated with deploying and supporting the leased units. These services can be billed as one-time fees, usage-based charges, or ongoing service components depending on contract structure. The company may also earn revenue from sales of units (e.g., selling used fleet assets or, where offered, new units) and from add-on products/features that enhance leased space (for example, accessories, upfits, or additional equipment). A key economic driver of the model is fleet utilization: higher utilization and effective yield on the leasing fleet increase rental revenue, while disciplined fleet management and redeployment help protect margins. Significant partnerships or specific contract terms are not available (null).

WillScot Mobile Mini Holdings Financial Statement Overview

Summary

Overall financials are mixed: cash flow is strong and improving (operating cash flow and free cash flow up materially), but profitability deteriorated sharply to a net loss and EBITDA margin fell, while leverage is elevated and rising (high debt-to-equity and weakening equity cushion).

Income Statement

Revenue has been essentially flat to down most recently (2025 revenue down ~1.6% vs. prior year after modest growth in 2024), while profitability has deteriorated sharply. Gross margin remains solid (~51% in 2025), but earnings swung to a net loss in 2025 (net margin ~-2.3%) versus a small profit in 2024 and very strong profitability in 2022–2023. The step-down in EBITDA margin from ~27% (2024) to ~12% (2025) signals meaningful operating pressure and/or higher costs below the gross line, making the current earnings quality and trajectory a key weakness despite still-healthy gross profitability.

Balance Sheet

Leverage is elevated and rising, with debt-to-equity increasing to ~4.4x in 2025 from ~3.9x in 2024 and ~3.0x in 2023, alongside declining equity over time. Returns to shareholders weakened materially, turning negative in 2025 (return on equity ~-6.2%) after modestly positive in 2024 and strong in 2022–2023. The asset base is sizable, but the high leverage and reduced equity cushion increase financial risk and reduce flexibility if earnings softness persists.

Cash Flow

Cash generation is a clear strength. Operating cash flow increased to ~$762M in 2025 from ~$562M in 2024, and free cash flow surged to ~$738M (strong growth vs. 2024), indicating improved cash conversion and/or working-capital/timing benefits. Cash flow appears supportive of debt service, with operating cash flow covering key obligations at roughly ~1.25x in 2025 (improving from ~0.96x in 2024). A notable watch-out is the disconnect between cash flow and reported earnings in 2025 (net loss alongside strong cash flow), which can be sustainable in some cases but warrants monitoring for one-time or timing-driven drivers.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.28B	2.40B	2.36B	2.14B	1.67B
Gross Profit	1.07B	1.30B	1.33B	1.14B	844.70M
EBITDA	597.30M	648.89M	1.01B	854.99M	585.98M
Net Income	-52.99M	28.13M	476.46M	339.54M	160.14M
Balance Sheet
Total Assets	5.82B	6.03B	6.14B	5.83B	5.77B
Cash, Cash Equivalents and Short-Term Investments	14.59M	9.00M	10.96M	7.39M	6.39M
Total Debt	4.14B	3.98B	3.80B	3.30B	2.90B
Total Liabilities	4.96B	5.02B	4.88B	4.26B	3.78B
Stockholders Equity	856.25M	1.02B	1.26B	1.57B	2.00B
Cash Flow
Free Cash Flow	737.65M	262.35M	512.03M	257.86M	230.91M
Operating Cash Flow	761.99M	561.64M	761.24M	744.66M	539.90M
Investing Cash Flow	-417.47M	-362.35M	-350.00M	-309.33M	-384.05M
Financing Cash Flow	-340.52M	-200.12M	-418.94M	-429.37M	-167.89M

WillScot Mobile Mini Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WSC, the sentiment is Negative. The current price of 18.1 is below the 20-day moving average (MA) of 19.64, below the 50-day MA of 20.68, and below the 200-day MA of 22.57, indicating a bearish trend. The MACD of -1.04 indicates Positive momentum. The RSI at 39.54 is Neutral, neither overbought nor oversold. The STOCH value of 23.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WSC.

WillScot Mobile Mini Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MGRC	70 Outperform	$2.68B	12.96	13.21%	1.79%	4.77%	-35.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
R	61 Neutral	$7.83B	16.03	16.36%	1.75%	1.68%	9.91%
WSC	51 Neutral	$3.27B	-64.81	-5.35%	1.44%	-3.64%	867.62%
HRI	47 Neutral	$3.48B	4,644.29	0.06%	1.79%	19.40%	-120.47%
CTOS	47 Neutral	$1.43B	-42.03	-3.00%	―	7.39%	34.57%

WillScot Mobile Mini Holdings Corporate Events

WillScot Mobile Mini Announces Chief Legal Officer Transition

On January 14, 2026, WillScot Holdings Corporation entered into a Separation and Release Agreement with Hezron Lopez, its Executive Vice President, Chief Legal & Compliance Officer & ESG, under which his employment with the company is scheduled to end on February 6, 2026. Under the agreement, Lopez will receive severance benefits consistent with a termination without cause pursuant to his existing employment contract, contingent on his reaffirmation of a release of claims and other commitments, signaling an orderly leadership transition in the company’s legal, compliance, and ESG functions.

The most recent analyst rating on (WSC) stock is a Hold with a $23.50 price target. To see the full list of analyst forecasts on WillScot Mobile Mini Holdings stock, see the WSC Stock Forecast page.