WillScot Mobile Mini Holdings (WSC)
NASDAQ:WSC
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WillScot Mobile Mini Holdings
(NASDAQ:WSC)
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Rating:51Neutral
Price Target:
$19.00
▲(1.82% Upside)
Action:ReiteratedDate: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
Durable operating and free cash flow strength gives the company flexibility to fund capex, service and pay down debt, and absorb restructuring cash costs without immediate capital raises. Over 2–6 months this supports liquidity, deleveraging and investments in higher‑value fleet initiatives.
Negative Factors
Elevated and rising leverage
The materially higher leverage reduces financial flexibility and heightens refinancing and covenant risk if earnings remain soft. Even with strong cash flow, near‑term optimization costs and seasonal revenue swings make balance sheet risk a persistent structural constraint over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Durable operating and free cash flow strength gives the company flexibility to fund capex, service and pay down debt, and absorb restructuring cash costs without immediate capital raises. Over 2–6 months this supports liquidity, deleveraging and investments in higher‑value fleet initiatives.
Read all positive factors
WillScot Mobile Mini Holdings (WSC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.37B
Dividend Yield1.44%
Average Volume (3M)2.00M
Price to Earnings (P/E)―
Beta (1Y)1.96
Revenue Growth-3.64%
EPS Growth867.62%
CountryUS
Employees4,500
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)0.29
Shares Outstanding180,854,430
10 Day Avg. Volume1,841,675
30 Day Avg. Volume2,001,820
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)4.01
Price to Sales (P/S)1.51
P/FCF Ratio4.66
Enterprise Value/Market Cap2.26
Enterprise Value/Revenue3.34
Enterprise Value/Gross Profit6.84
Enterprise Value/Ebitda15.05
Forecast
1Y Price Target
$21.95Price Target Upside17.63% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.06
Revenue Forecast (FY)$2.18B
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 o...
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 o...
WillScot Mobile Mini Holdings Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: strong cash generation, high margins, improving commercial indicators (enterprise account wins, order book growth, sales staffing improvements) and targeted investments in higher-value offerings argue for resilience and a pathway back to growth. Offsetting that are tangible near-term headwinds — notably a $50M traditional storage revenue drag, a substantial $302M noncash restructuring charge tied to fleet optimization, anticipated cash costs for disposals (~$35M in 2026), elevated health insurance and conservative 2026 guidance (revenue and EBITDA down vs. 2025). Management framed the guidance conservatively and emphasized that upside is possible if commercial momentum sustains. Given the meaningful positive cash-flow and operational progress but material near-term charges and revenue headwinds, the net tone is cautious optimism rather than unambiguous improvement.Positive Updates
Strong Free Cash Flow and Cash Generation
Q4 adjusted free cash flow of $91M (16.1% margin, $0.50 per share); FY2025 adjusted free cash flow $489M (21.4% margin, $2.70 per share). Cash generation exceeded guidance and remained a core strength.
Negative Updates
Revenue Declines and Seasonal Storage Weakness
Q4 total revenue $566M, down $38M (6% YoY) as reported; excluding out-of-period AR adjustments, revenue declined ~2% YoY in the quarter. Portable storage leasing revenue down ~ $10M in Q4 driven by lower seasonal storage volumes from one customer. Guidance for 2026 revenue of ~$2.175B implies a decline versus FY2025 ($2.28B), ~-4.6%.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Free Cash Flow and Cash Generation
Q4 adjusted free cash flow of $91M (16.1% margin, $0.50 per share); FY2025 adjusted free cash flow $489M (21.4% margin, $2.70 per share). Cash generation exceeded guidance and remained a core strength.
Read all positive updates
Company Guidance
WillScot's 2026 guidance calls for approximately $2.175 billion of revenue and $900 million of adjusted EBITDA (≈41.4% margin), with Q1 revenue ~ $515 million and Q1 adjusted EBITDA ~ $200 million; management says the outlook is conservative, does not assume a turnaround, and could be exceeded if current commercial momentum sustains. Net CapEx is guided to about $275 million (roughly 70% split evenly between modular refurbishments and new differentiated fleet purchases such as FLEX/complexes, 25% to VAPS, 5% infrastructure), adjusted free cash flow of roughly $415 million (excluding ~$35 million of 2026 network-optimization implementation costs), depreciation & amortization ≈ $400 million (~$100M/quarter; ~$310M rental equipment, ~$40M amortization, ~$50M other), and interest expense ≈ $215 million (including ~$9M noncash); effective tax rate remains ≈26% with federal cash taxes expected in 2027. The company noted an approximate $50 million headwind in traditional storage versus 2025, expects sequential revenue to rise ~7–8% into Q2 (including ~2,000 short-duration World Cup units in Q2–Q3), and is implementing a network optimization to exit ~25% leased acreage over 4 years to realize $25–30 million of annual real estate savings, while taking a $302 million noncash accelerated-depreciation charge on ~53,000 units (salvage ≈ $10M) and incurring ~ $60M of fleet disposal/relocation cash costs over several years (~$35M in 2026), which yields a pro forma utilization uplift of >700 bps after removals.WillScot Mobile Mini Holdings Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
28
Negative
Cash Flow
72
Positive
| 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
Positive
18.66
Price Trends
19.79
Negative
19.81
Negative
21.99
Negative
Market Momentum
-0.36
Negative
50.53
Neutral
70.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WSC, the sentiment is Positive. The current price of 18.66 is above the 20-day moving average (MA) of 17.84, below the 50-day MA of 19.79, and below the 200-day MA of 21.99, indicating a neutral trend. The MACD of -0.36 indicates Negative momentum. The RSI at 50.53 is Neutral, neither overbought nor oversold. The STOCH value of 70.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WSC.
WillScot Mobile Mini Holdings Risk Analysis
WillScot Mobile Mini Holdings disclosed 35 risk factors in its most recent earnings report. WillScot Mobile Mini Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WillScot Mobile Mini Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $2.81B | 12.96 | 13.21% | 1.79% | 4.77% | -35.44% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $8.63B | 16.03 | 16.36% | 1.75% | 1.68% | 9.91% | |
51 Neutral | $3.37B | -64.81 | -5.35% | 1.44% | -3.64% | 867.62% | |
47 Neutral | $3.44B | 4,644.29 | 0.06% | 1.79% | 19.40% | -120.47% | |
47 Neutral | $1.65B | -42.03 | -3.00% | ― | 7.39% | 34.57% |
* Industrials Sector Average
WSC
WillScot Mobile Mini Holdings
18.66
-5.54
-22.89%
HRI
Herc Holdings
102.96
-13.73
-11.77%
MGRC
Mcgrath Rentcorp
114.11
9.14
8.71%
R
Ryder System
218.97
80.85
58.54%
CTOS
Custom Truck One Source
7.26
3.61
98.90%
WillScot Mobile Mini Holdings Corporate Events
Business Operations and StrategyExecutive/Board Changes
WillScot Mobile Mini Announces Chief Legal Officer Transition
Neutral
Jan 20, 2026
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 e...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.