WillScot Mobile Mini Holdings (WSC) AI Stock Analysis

• Market Cap: $4.29B
• Dividend Yield: 1.44%
• Average Volume (3M): 1.63M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.93
• 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: 1,527,150
• 30 Day Avg. Volume: 1,629,853
• 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: 1.89
• Enterprise Value/Revenue: 3.55
• Enterprise Value/Gross Profit: 7.28
• Enterprise Value/Ebitda: 16.01
• 1Y Price Target: $23.33
• Price Target Upside: 6.68% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 1.05
• Revenue Forecast (FY): $2.18B

• Rating: 51 Neutral
• Price Target: $22.00 ▲(0.59% Upside)
• 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

Consistently robust operating and free cash flow provides durable financial flexibility. High cash generation supports debt service, targeted capex in higher‑value assets, and shareholder returns without relying on volatile earnings, reducing refinancing risk over a multi‑year horizon.

Rapid growth in higher‑value niches

Accelerating penetration into cold storage and data center work diversifies revenue into structurally growing, higher‑value end markets. Over 2–6 months this can improve revenue mix, raise yields per unit, and create longer‑duration contracts that strengthen recurring income streams.

Focused portfolio repositioning and capex

Allocating most capex to differentiated, higher‑margin products and refurbishments is a structural move to lift long‑term yields and utilization. Over several quarters this should enhance asset productivity, improve customer value propositions, and support sustainable margin recovery.

Negative Factors

Elevated leverage

Rising leverage and a shrinking equity cushion reduce financial flexibility and increase vulnerability to earnings volatility. If underlying profitability or cash conversion weakens, higher leverage raises refinancing and coverage risk and limits ability to fund growth without further balance sheet actions.

Material profitability deterioration

A sharp fall in EBITDA margin and a move to a net loss signal durable operating pressure or adverse mix shifts. Sustained margin erosion can impede deleveraging, constrain free cash flow durability, and necessitate ongoing cost or pricing actions to restore historical returns.

Restructuring charges and disposal cash costs

Large noncash write‑downs plus multi‑year disposal cash outlays represent execution and cash‑timing risk. While aimed at long‑term efficiency, these actions reduce near‑term reported earnings, require working capital to execute, and could disrupt service levels during fleet redeployment.

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 generates revenue primarily through the rental of modular space units and portable storage containers. The company charges customers on a monthly basis for the use of its products, creating a recurring revenue stream. Additionally, WillScot offers sales of new and used modular units and storage containers, contributing to its revenue. The company benefits from economies of scale, as it operates a large fleet of units and has extensive operational capabilities across North America. Strategic partnerships with construction firms and other industries also enhance its revenue potential by ensuring a steady demand for its services. Seasonal fluctuations in construction and other sectors can impact earnings, but the company's diversified portfolio helps mitigate risks associated with economic cycles.

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: Neutral
• Last Price: 21.87
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WSC, the sentiment is Neutral. The current price of 21.87 is above the 20-day moving average (MA) of 21.49, above the 50-day MA of 20.87, and below the 200-day MA of 23.42, indicating a neutral trend. The MACD of 0.49 indicates Negative momentum. The RSI at 51.83 is Neutral, neither overbought nor oversold. The STOCH value of 62.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$2.82B	19.38	12.70%	1.79%	4.77%	-35.44%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
R	61 Neutral	$8.81B	18.83	16.15%	1.75%	1.68%	9.91%
HRI	58 Neutral	$4.96B	4,643.44	0.06%	1.79%	19.40%	-120.47%
WSC	51 Neutral	$4.29B	-72.51	-5.65%	1.44%	-3.64%	867.62%
CTOS	50 Neutral	$1.70B	-66.76	-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.

WillScot Launches Network Optimization and Restructuring Initiative

On December 18, 2025, WillScot Holdings Corporation’s board approved a multi-year Network Optimization Plan following its 2024 integration of modular and storage field operations and a detailed review of its real estate footprint and rental fleet. Under the restructuring, the company will exit about 725 acres of leased real estate over the next four years, covering 115 branch and drop lot locations—roughly a quarter of its leased acreage—and abandon rental fleet units with a net book value of up to $315 million, primarily long idle, non-standard or high-repair modular and storage units, while maintaining market coverage and sufficient idle fleet. The plan triggered around $41 million of incremental depreciation on equipment identified for disposal during the eleven months ended November 30, 2025, and will include approximately $303 million of non-cash accelerated depreciation recorded in the fourth quarter of 2025 and an estimated $40 million to $50 million of cash disposal costs through 2029, with about $20 million of net cash costs expected in 2026; management expects the initiative to curb annual real estate cost increases by $25 million to $30 million and to be accretive to profitability from 2027 onward, with all related charges reported as restructuring costs in other operating expenses.

The most recent analyst rating on (WSC) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on WillScot Mobile Mini Holdings stock, see the WSC Stock Forecast page.

WillScot Mobile Mini Appoints New Chief Accounting Officer

On December 8, 2025, WillScot Holdings Corporation announced the appointment of Carisa Bianchi as Senior Vice President, Chief Accounting Officer, effective January 12, 2026. Ms. Bianchi, with over 25 years of experience in finance and operations, has held significant roles at Insight Enterprises and Amkor Technology. Her appointment includes a comprehensive compensation package with both cash and equity incentives, and she will become the principal accounting officer in her starting quarter, although Mathew T. Jacobsen will handle the 2025 10-K filing.

The most recent analyst rating on (WSC) stock is a Hold with a $22.50 price target. To see the full list of analyst forecasts on WillScot Mobile Mini Holdings stock, see the WSC Stock Forecast page.