WillScot (WSC)
Market Price (12/25/2025): $19.57 | Market Cap: $3.6 BilSector: Industrials | Industry: Office Services & Supplies
WillScot (WSC)
Market Price (12/25/2025): $19.57Market Cap: $3.6 BilSector: IndustrialsIndustry: Office Services & Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 13% | Weak multi-year price returns2Y Excs Rtn is -103%, 3Y Excs Rtn is -138% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 109% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 24% | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.6%, Rev Chg QQuarterly Revenue Change % is -5.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% | Key risksWSC key risks include [1] an aging fleet and substantial debt, Show more. | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% | ||
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, and Renewable Energy Transition. Themes include E-commerce Logistics REITs, Solar Energy Generation, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 13% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 24% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, and Renewable Energy Transition. Themes include E-commerce Logistics REITs, Solar Energy Generation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -103%, 3Y Excs Rtn is -138% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 10% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 109% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.6%, Rev Chg QQuarterly Revenue Change % is -5.8% |
| Key risksWSC key risks include [1] an aging fleet and substantial debt, Show more. |
Why The Stock Moved
Qualitative Assessment
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1. Q3 2025 Earnings Miss and Revenue Decline: WillScot reported mixed third-quarter 2025 results on November 6, 2025. The company's diluted earnings per share (EPS) came in at $0.24, falling short of the $0.30 forecast by 20%. Revenue also missed expectations, totaling $567 million against an expected $582.97 million, marking a 2.74% shortfall and a 6% decrease year-over-year. This performance led to a negative market reaction, with the stock dropping 5.96% in after-hours trading.2. Lowered Full-Year and Q4 2025 Outlook: Following the Q3 results, WillScot updated its full-year 2025 outlook and provided a conservative forecast for the fourth quarter. The company projected Q4 revenue of approximately $545 million, significantly below the analyst consensus estimate of $589.3 million. For the full year 2025, revenue was expected to be around $2.26 billion. This lowered guidance signaled a challenging near-term growth trajectory, dampening investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -8.5% change in WSC stock from 9/24/2025 to 12/24/2025 was primarily driven by a -55.0% change in the company's P/E Multiple.| 9242025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 21.35 | 19.53 | -8.50% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2352.58 | 2317.99 | -1.47% |
| Net Income Margin (%) | 4.66% | 9.64% | 106.75% |
| P/E Multiple | 35.49 | 15.97 | -55.01% |
| Shares Outstanding (Mil) | 182.47 | 182.77 | -0.17% |
| Cumulative Contribution | -8.50% |
Market Drivers
9/24/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| WSC | -8.5% | |
| Market (SPY) | 4.4% | 44.8% |
| Sector (XLI) | 3.4% | 47.5% |
Fundamental Drivers
The -28.3% change in WSC stock from 6/25/2025 to 12/24/2025 was primarily driven by a -95.2% change in the company's P/E Multiple.| 6252025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 27.24 | 19.53 | -28.31% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2368.09 | 2317.99 | -2.12% |
| Net Income Margin (%) | 0.63% | 9.64% | 1428.19% |
| P/E Multiple | 334.86 | 15.97 | -95.23% |
| Shares Outstanding (Mil) | 183.68 | 182.77 | 0.49% |
| Cumulative Contribution | -28.32% |
Market Drivers
6/25/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| WSC | -28.3% | |
| Market (SPY) | 14.0% | 48.4% |
| Sector (XLI) | 10.0% | 53.7% |
Fundamental Drivers
The -41.6% change in WSC stock from 12/24/2024 to 12/24/2025 was primarily driven by a -93.6% change in the company's P/E Multiple.| 12242024 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 33.42 | 19.53 | -41.56% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 2405.58 | 2317.99 | -3.64% |
| Net Income Margin (%) | 1.05% | 9.64% | 819.05% |
| P/E Multiple | 249.29 | 15.97 | -93.59% |
| Shares Outstanding (Mil) | 188.28 | 182.77 | 2.93% |
| Cumulative Contribution | -41.61% |
Market Drivers
12/24/2024 to 12/24/2025| Return | Correlation | |
|---|---|---|
| WSC | -41.6% | |
| Market (SPY) | 15.8% | 64.1% |
| Sector (XLI) | 18.6% | 67.9% |
Fundamental Drivers
The -56.8% change in WSC stock from 12/25/2022 to 12/24/2025 was primarily driven by a -45.8% change in the company's P/E Multiple.| 12252022 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 45.16 | 19.53 | -56.75% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 1929.41 | 2317.99 | 20.14% |
| Net Income Margin (%) | 16.97% | 9.64% | -43.16% |
| P/E Multiple | 29.47 | 15.97 | -45.81% |
| Shares Outstanding (Mil) | 213.64 | 182.77 | 14.45% |
| Cumulative Contribution | -57.65% |
Market Drivers
12/25/2023 to 12/24/2025| Return | Correlation | |
|---|---|---|
| WSC | -55.9% | |
| Market (SPY) | 48.9% | 58.3% |
| Sector (XLI) | 42.7% | 61.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WSC Return | 25% | 76% | 11% | -1% | -25% | -41% | 6% |
| Peers Return | 10% | 88% | -9% | 40% | 19% | 6% | 234% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| WSC Win Rate | 67% | 83% | 58% | 58% | 42% | 42% | |
| Peers Win Rate | 58% | 73% | 43% | 58% | 52% | 50% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| WSC Max Drawdown | -57% | 0% | -24% | -22% | -26% | -55% | |
| Peers Max Drawdown | -55% | -2% | -34% | -10% | -12% | -25% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: MGRC, URI, HRI, CVCO, SKY. See WSC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | WSC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -33.9% | -25.4% |
| % Gain to Breakeven | 51.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -60.1% | -33.9% |
| % Gain to Breakeven | 150.3% | 51.3% |
| Time to Breakeven | 231 days | 148 days |
| 2018 Correction | ||
| % Loss | -51.8% | -19.8% |
| % Gain to Breakeven | 107.4% | 24.7% |
| Time to Breakeven | 340 days | 120 days |
Compare to CLH, AL, ADT, CWST, MSA
In The Past
WillScot's stock fell -33.9% during the 2022 Inflation Shock from a high on 3/7/2023. A -33.9% loss requires a 51.3% gain to breakeven.
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WillScot Mobile Mini Holdings Corp. provides work space and portable storage solutions in the United States, Canada, Mexico, and the United Kingdom. The company leases modular space and portable storage units to customers in the commercial and industrial, construction, education, energy and natural resources, government, and other end markets. As of December 31, 2021, it had approximately 390,000 total units, which included 162,000 modular space units; 213,000 portable storage units; 13,000 tank and pump units; and other value-added products. The company offers its solutions primarily under the WillScot and Mobile Mini brands. WillScot Mobile Mini Holdings Corp. was incorporated in 2017 and is headquartered in Phoenix, Arizona.
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Here are a few analogies to describe WillScot (WSC):
- United Rentals for temporary buildings and storage containers. (Both provide B2B rental solutions for temporary needs, but WSC focuses on modular space rather than heavy equipment.)
- Hertz or Enterprise for mobile offices and storage units. (They rent physical assets for temporary use, similar to how car rental companies provide temporary vehicle access.)
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- Mobile Offices: Rental of temporary, ready-to-work mobile office trailers and complexes for various industries.
- Storage Containers: Rental of secure, portable steel storage units available in various sizes for on-site material and equipment storage.
- Modular Buildings: Rental of customizable, larger-scale temporary and permanent modular structures for diverse applications such as classrooms or healthcare facilities.
- Value-Added Products and Services (VAPS): Provision of ancillary solutions including furniture, steps, ramps, security systems, and insurance to enhance the functionality and convenience of their core rental units.
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WillScot Mobile Mini Holdings Corp. (WSC) primarily sells its modular space and portable storage solutions to other companies and organizations rather than to individuals. Due to the diverse and fragmented nature of its customer base, WillScot does not publicly disclose a limited number of specific "major customer" companies that account for a significant portion of its revenue. Instead, its customers span across thousands of businesses within various industries.
The major categories of companies and organizations that WillScot serves include:
- Construction Companies: This sector represents a significant portion of WillScot's customer base, including general contractors, subcontractors, and developers. These companies utilize mobile offices, storage containers, and modular complexes for temporary on-site offices, secure material storage, and crew facilities for commercial, residential, and infrastructure projects.
- Industrial and Commercial Businesses: This broad category encompasses a wide array of enterprises such as manufacturing plants, retail chains, logistics companies, energy companies (oil & gas, utilities), and other commercial entities. They often require temporary offices, secure storage, specialized modular units, or event solutions for expansions, renovations, seasonal needs, or operational support.
- Public Sector and Institutions: This group includes governmental agencies (federal, state, and local), educational institutions (schools, universities), and healthcare providers (hospitals, clinics, laboratories). These customers frequently need temporary facilities for administrative functions, classrooms, medical units, emergency response, or swing space during permanent facility upgrades.
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Bradley L. Soultz, Chief Executive Officer
Mr. Soultz serves as CEO of WillScot and was the President and CEO of WillScot before its merger with Mobile Mini. Prior to becoming WillScot's President and CEO in November 2017, he served as President and CEO of Williams Scotsman International Inc. (WSII) from January 2014, where he was responsible for strategic and operational aspects of the North American business and played a key role in preparing the company for its reemergence as a public entity. Before joining WSII, Mr. Soultz served as the Chief Commercial and Strategy Officer of Novelis Inc.
Matthew T. Jacobsen, Executive Vice President – Chief Financial Officer
Mr. Jacobsen serves as Chief Financial Officer of WillScot, a role he assumed effective January 1, 2025. Until December 2024, he served as Senior Vice President of Finance since July 2020 when WillScot Corporation merged with Mobile Mini, leading Financial Planning and Analysis, Treasury, and Business Intelligence functions. Mr. Jacobsen joined Williams Scotsman in November 2010 and held roles of increasing responsibility within the Finance and Accounting functions. Prior to joining Williams Scotsman, he worked in public accounting within Deloitte's audit practice.
Timothy D. Boswell, President & Chief Operating Officer
Mr. Boswell serves as President and Chief Operating Officer of WillScot and is slated to succeed Bradley L. Soultz as Chief Executive Officer, effective January 1, 2026. Until December 2024, he was Chief Financial Officer, a position he held since November 2017 when Williams Scotsman spun out of its predecessor company and listed on the Nasdaq as WillScot Corporation. Previously, Mr. Boswell was Vice President, Finance and Treasurer of Williams Scotsman International Inc., responsible for the company's North American finance, strategy, and IT functions. He also served as the company's Chief of Staff to the CEO and Vice President of Strategy and Business Development. Prior to joining Algeco Scotsman (a predecessor company) in June 2012, Mr. Boswell was a Vice President at Sterling Partners, a Chicago-based private equity firm, responsible for principal investing and portfolio company management.
Hezron Timothy Lopez, Executive Vice President – Chief Legal & Compliance Officer & ESG
Mr. Lopez serves as EVP – Chief Legal & Compliance Officer & ESG of WillScot. He joined WillScot in June 2019 as Vice President, General Counsel and Corporate Secretary until the merger with Mobile Mini. At the time of the merger, he assumed the role of EVP - Chief Human Resources Officer & ESG of WillScot Mobile Mini. Previously, Mr. Lopez served as Senior Vice President, General Counsel and Corporate Secretary of Herman Miller, Inc. (NASDAQ: MLKN) from 2012 to 2018.
Felicia Gorcyca, Executive Vice President – Chief Human Resources Officer
Ms. Gorcyca serves as Executive Vice President and Chief Human Resources Officer for WillScot.
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The key risks to WillScot's (WSC) business are:-
Dependence on Non-Residential Construction Sector and Economic Cycles: WillScot's business performance is highly reliant on the activity within the non-residential construction sector and broader macroeconomic conditions. A sustained slowdown in non-residential construction projects, as evidenced by declining square foot starts and negative indicators like the National Architecture Billings Index, directly leads to reduced demand for the company's modular space and portable storage solutions, impacting revenue and profitability.
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Aging Fleet and Substantial Debt: The company faces challenges related to an aging fleet of rental equipment, which can lead to increased depreciation costs and concerns about the rentability of units. This operational challenge is compounded by substantial debt burdens, resulting in a poor financial strength rating and a low interest coverage ratio.
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Declining Volume and Utilization Rates: WillScot has experienced a decline in the number of modular space and portable storage units on rent. This ongoing weakness in volume trends across the board, including a notable decrease in seasonal storage, has led to revenue declines despite efforts to offset these with increased rental rates and value-added products and services.
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WillScot Corporation (WSC) operates primarily in two main product and service categories: modular space solutions and portable storage solutions, along with providing Value-Added Products and Services (VAPS).
Modular Space Solutions
- The total addressable market for modular space, as identified by WillScot, is approximately $20 billion. This market is primarily North American, given WillScot's market leadership in North American modular workplace solutions.
- Specifically, the U.S. modular construction market was valued at an estimated USD 10.53 billion in 2022 and is projected to reach approximately USD 24.15 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 7.82% from 2024 to 2033.
- In 2024, the U.S. modular construction market reached $20.3 billion and is expected to grow to $25.4 billion by 2029.
- The North American modular construction market is estimated at USD 19.77 billion in 2025 and is forecast to reach USD 25.40 billion by 2030, with a CAGR of 5.13%. The United States accounted for 79.43% of this market in 2024.
Portable Storage Solutions
- The U.S. Portable Storage Container Rental Market was valued at USD 532.42 million in 2023 and is projected to grow to USD 791.42 million by 2031, at a CAGR of 5.82% from 2024 to 2031.
- The global portable storage services market size is estimated at $15 billion in 2025, with a projected CAGR of 7% from 2025 to 2033. North America is expected to be a region of strong growth for these services.
Value-Added Products and Services (VAPS)
- WillScot identifies VAPS as a significant revenue growth opportunity, representing $500 million. The company aims for VAPS to contribute 20%-25% of its $3 billion revenue target by 2029. While a distinct addressable market size for VAPS was not found, this indicates the segment's internal market potential for WillScot.
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Below are the expected drivers of future revenue growth for WillScot (WSC) over the next 2-3 years:- Growth in Value-Added Products and Services (VAPS) and New Product Lines: WillScot anticipates continued revenue growth from its Value-Added Products and Services, with VAPS revenues showing a 5% year-over-year increase on a per-unit basis for modular units and approximately 22% on storage units. Newer product offerings, such as climate-controlled storage units and FLEX units, have demonstrated substantial growth, up 44% and 30% year-over-year, respectively. The company expects its perimeter and clearspan offerings to continue ramping up into 2026.
- Expansion in Enterprise Accounts and Non-Construction Verticals: The company expects its enterprise portfolio to achieve a mid-to-high single-digit growth rate into 2026. This growth is driven by the expansion of existing customer relationships and a more focused strategy on non-construction sectors, leveraging strong demand in these enterprise accounts.
- Continued Rental Rate Increases: Despite some volume declines in the modular and storage portfolios, WillScot has successfully implemented rental rate increases. In Q2 2025, modular space unit average monthly rental rates increased by 5% year-over-year to $1,237, which helps offset volume headwinds and drives leasing revenue.
- Strategic Mergers and Acquisitions (M&A): WillScot has a history of utilizing acquisitions to expand its market position and product offerings, including establishing market-leading positions in climate-controlled storage and clearspan structures. The company announced the acquisition of McGrath RentCorp in early 2024, signaling that M&A remains a part of its strategy for future growth.
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Share Repurchases
- WillScot returned $270 million to shareholders by repurchasing 7.1 million shares of Common Stock in fiscal year 2024, reducing the outstanding share count by 3.4% over the twelve months ended December 31, 2024.
- In the second quarter of 2025, the company repurchased 1,533,109 shares for $40 million, contributing to a 3.4% reduction in outstanding shares over the 12 months ending June 30, 2025.
- During the third quarter of 2025, $21 million was returned to shareholders through share repurchases and quarterly cash dividends, including the repurchase of 296,805 shares for $8 million.
Outbound Investments
- WillScot deployed approximately $134 million towards tuck-in acquisitions in the second quarter of 2025, which included a regional climate-controlled temporary storage business.
- For the nine months ended September 30, 2025, the company acquired a regional provider of climate-controlled containers and trailers for $115.6 million, net of cash acquired.
- In 2024, WillScot invested $121 million in acquisitions over the trailing twelve months, with $37 million invested in one acquisition during Q4 2024.
Capital Expenditures
- WillScot's Net Capital Expenditures (CAPEX) for the nine months ended September 30, 2025, increased by 16% year-over-year to $206 million, primarily focused on investments in high-demand categories such as FLEX, complexes, fleet refurbishment, and newer product lines.
- For the full year 2025, the company expects Net CAPEX to be approximately $275 million.
- In Q3 2025, the company invested $69 million in Net CAPEX, including $81 million for rental equipment to support both maintenance needs and growth in new product lines.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to WSC. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.7% | 18.7% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.7% | 4.7% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.9% | 6.9% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.6% | 2.6% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 6.0% | 6.0% | -0.4% |
| 04302025 | WSC | WillScot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -11.3% | -21.6% | -40.0% |
| 10312024 | WSC | WillScot | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -22.5% | -33.9% | -37.5% |
| 04302024 | WSC | WillScot | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 6.0% | -31.9% | -39.7% |
Research & Analysis
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Peer Comparisons for WillScot
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 132.01 |
| Mkt Cap | 4.8 |
| Rev LTM | 2,471 |
| Op Inc LTM | 365 |
| FCF LTM | 192 |
| FCF 3Y Avg | 194 |
| CFO LTM | 515 |
| CFO 3Y Avg | 480 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.4% |
| Rev Chg 3Y Avg | 10.0% |
| Rev Chg Q | 7.8% |
| QoQ Delta Rev Chg LTM | 1.9% |
| Op Mgn LTM | 17.8% |
| Op Mgn 3Y Avg | 21.3% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 25.6% |
| CFO/Rev 3Y Avg | 28.5% |
| FCF/Rev LTM | 7.0% |
| FCF/Rev 3Y Avg | 5.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.8 |
| P/S | 2.0 |
| P/EBIT | 14.6 |
| P/E | 19.6 |
| P/CFO | 11.6 |
| Total Yield | 5.1% |
| Dividend Yield | 1.0% |
| FCF Yield 3Y Avg | 2.8% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.7% |
| 3M Rtn | -0.6% |
| 6M Rtn | 18.7% |
| 12M Rtn | -4.7% |
| 3Y Rtn | 45.4% |
| 1M Excs Rtn | 3.3% |
| 3M Excs Rtn | -3.8% |
| 6M Excs Rtn | 3.8% |
| 12M Excs Rtn | -23.7% |
| 3Y Excs Rtn | -33.3% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Modular space leasing revenue | 954 | ||||
| Delivery and installation revenue | 437 | ||||
| Portable storage leasing revenue | 397 | ||||
| Value-added products and services (VAPS) and third party leasing revenues | 392 | ||||
| Other leasing-related revenue | 91 | ||||
| New unit sales revenue | 48 | ||||
| Rental unit sales revenue | 46 | ||||
| Modular | 1,342 | 1,164 | 1,051 | 1,064 | |
| Storage | 801 | 509 | 222 | ||
| Tank and Pump Solutions (Tank and Pump) | 48 | ||||
| United Kingdom Storage Solutions (UK Storage) | 46 | ||||
| Total | 2,365 | 2,143 | 1,673 | 1,368 | 1,064 |
Price Behavior
Price Behavior
| Market Price | $19.53 | |
| Market Cap ($ Bil) | 3.6 | |
| First Trading Date | 07/25/2013 | |
| Distance from 52W High | -49.6% | |
| 50 Days | 200 Days | |
| DMA Price | $19.87 | $24.50 |
| DMA Trend | down | down |
| Distance from DMA | -1.7% | -20.3% |
| 3M | 1YR | |
| Volatility | 52.9% | 50.7% |
| Downside Capture | 205.45 | 208.28 |
| Upside Capture | 122.87 | 125.80 |
| Correlation (SPY) | 45.0% | 63.9% |
WSC Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.44 | 1.84 | 1.84 | 2.18 | 1.66 | 1.44 |
| Up Beta | 4.23 | 3.09 | 3.19 | 2.69 | 1.69 | 1.45 |
| Down Beta | 0.70 | 1.92 | 1.54 | 2.57 | 1.56 | 1.61 |
| Up Capture | 135% | 108% | 73% | 104% | 139% | 108% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 7 | 19 | 27 | 55 | 109 | 366 |
| Down Capture | 262% | 170% | 210% | 225% | 145% | 109% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 13 | 21 | 34 | 67 | 136 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of WSC With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| WSC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -40.0% | 20.9% | 19.2% | 71.9% | 8.9% | 6.0% | -10.4% |
| Annualized Volatility | 50.5% | 18.8% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | -0.84 | 0.87 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 67.9% | 64.1% | -6.6% | 22.5% | 46.2% | 29.1% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of WSC With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| WSC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -2.3% | 14.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.6% |
| Annualized Volatility | 38.8% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.05 | 0.66 | 0.70 | 0.97 | 0.51 | 0.17 | 0.59 |
| Correlation With Other Assets | 60.5% | 57.0% | 3.3% | 17.8% | 44.2% | 22.9% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of WSC With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| WSC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 7.5% | 13.4% | 14.7% | 14.9% | 6.9% | 5.2% | 69.2% |
| Annualized Volatility | 39.2% | 19.9% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.31 | 0.60 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 59.0% | 55.8% | 0.4% | 24.8% | 49.2% | 15.6% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | -6.5% | -11.8% | 6.9% |
| 7/31/2025 | -13.7% | -15.9% | -17.4% |
| 5/1/2025 | 6.5% | 8.1% | 4.3% |
| 2/20/2025 | -8.8% | -15.0% | -22.9% |
| 10/30/2024 | -14.8% | 2.4% | -1.6% |
| 8/1/2024 | -10.8% | -14.7% | -3.2% |
| 5/2/2024 | -0.7% | 7.9% | 4.7% |
| 2/20/2024 | -3.1% | -5.8% | -6.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 8 | 8 | 11 |
| # Negative | 12 | 12 | 9 |
| Median Positive | 5.4% | 9.3% | 6.9% |
| Median Negative | -7.6% | -9.4% | -10.6% |
| Max Positive | 9.2% | 12.8% | 16.8% |
| Max Negative | -14.8% | -16.5% | -40.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 7312025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2202025 | 10-K 12/31/2024 |
| 9302024 | 10302024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 5022024 | 10-Q 3/31/2024 |
| 12312023 | 2202024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8032023 | 10-Q 6/30/2023 |
| 3312023 | 4272023 | 10-Q 3/31/2023 |
| 12312022 | 2222023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 8042022 | 10-Q 6/30/2022 |
| 3312022 | 4282022 | 10-Q 3/31/2022 |
| 12312021 | 2252022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Lopez Hezron T. | EVP, CLO, CCO & ESG | 8202025 | Sell | 24.63 | 22,000 | 541,860 | 1,330,956 | Form |
| 1 | Zarcone Dominick P | 6182025 | Buy | 26.19 | 10,000 | 261,876 | 402,870 | Form | |
| 2 | Soultz Bradley Lee | Chief Executive Officer | 5072025 | Buy | 26.79 | 10,000 | 267,900 | 3,451,007 | Form |
| 3 | Boswell Timothy D | President & COO | 3132025 | Buy | 29.14 | 5,000 | 145,713 | 995,395 | Form |
| 4 | Soultz Bradley Lee | Chief Executive Officer | 3102025 | Buy | 28.74 | 10,000 | 287,400 | 3,989,601 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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