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WillScot Mobile Mini Holdings
(NASDAQ:WSC)
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Rating:55Neutral
Price Target:
$22.00
▲(3.00% Upside)
Action:Reiterated
Date:08/07/26
The score is anchored by mixed financial performance: strong and improving cash generation supports resilience, but weakened profitability and high leverage elevate risk. Recent earnings call commentary was a positive offset due to raised guidance and expected margin improvement, while technicals are neutral-to-soft and valuation is limited by negative earnings and only a modest dividend yield.
Positive Factors
Strong cash generation
Robust operating and free cash flow provides recurring internal funding for fleet investment and debt service. The ability to generate substantial cash even during a net loss supports resilience and reduces reliance on external financing.
Negative Factors
High financial leverage
Elevated leverage limits financial flexibility and increases sensitivity to weaker demand, higher funding costs or execution setbacks. Compressed equity and negative recent returns further constrain the company’s ability to absorb prolonged operational pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating and free cash flow provides recurring internal funding for fleet investment and debt service. The ability to generate substantial cash even during a net loss supports resilience and reduces reliance on external financing.
Read all positive factors
WillScot Mobile Mini Holdings (WSC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.85B
Dividend Yield1.31%
Average Volume (3M)1.88M
Price to Earnings (P/E)―
Beta (1Y)1.95
Revenue Growth-2.51%
EPS Growth-162.51%
CountryUS
Employees4,700
SectorIndustrials
Sector Strength72
IndustryRental & Leasing Services
Share Statistics
EPS (TTM)-0.37
Shares Outstanding181,190,960
10 Day Avg. Volume1,905,080
30 Day Avg. Volume1,884,150
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.50Price Target Upside33.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)1.12
Revenue Forecast (FY)$2.31B
WillScot Mobile Mini Holdings Business Overview & Revenue Model
Company Description
WillScot Holdings Corporation (WSC) is a leading provider of adaptable workspace and mobile storage solutions throughout the United States, Canada, and Mexico. The company's operations are divided into two core divisions: Modular Solutions and Sto...
How the Company Makes Money
WillScot Mobile Mini makes money primarily by renting temporary space assets from its owned fleet. The largest revenue stream is recurring lease/rental income generated under customer agreements for modular buildings and portable storage container...
WillScot Mobile Mini Holdings Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call struck a constructive, bullish tone: the company beat Q2 expectations, reported organic leasing momentum (modular activations +16% YoY), increased full‑year revenue and adjusted EBITDA guidance, and signaled meaningful fleet and product investments to capture higher‑quality, enterprise project demand. Offsetting items include near‑term margin compression from purposeful upfront investments, elevated CapEx that temporarily pressures free cash flow, and some headwinds in transactional storage and lumpy comps (notably the World Cup). Management emphasized confidence in execution, improving win rates, and financial flexibility to support the opportunities.Positive Updates
Top-line growth and raised full-year guidance
Total revenue of $612 million in Q2, up 4% year-over-year; company raised full-year 2026 revenue outlook to approximately $2.3 billion (a $50 million increase versus prior outlook) and Q3 revenue guidance of ~$585 million (≈ +3% YoY).
Negative Updates
Margin compression in Q2 from upfront investments and mix
Adjusted EBITDA margin compressed ~500 basis points YoY to 37.2% in Q2. Management attributed ~250 bps to higher cost of leasing/unit transfer costs (~$17 million incremental), ~160 bps to revenue mix (higher D&I share) and ~100 bps to SG&A increases.
Read all updates
Q2-2026 Updates
Positive
Negative
Top-line growth and raised full-year guidance
Total revenue of $612 million in Q2, up 4% year-over-year; company raised full-year 2026 revenue outlook to approximately $2.3 billion (a $50 million increase versus prior outlook) and Q3 revenue guidance of ~$585 million (≈ +3% YoY).
Read all positive updates
Company Guidance
Management modestly raised full‑year 2026 guidance, now expecting approximately $2.3 billion of revenue (a $50 million increase from the prior outlook — roughly $25 million more leasing revenue and $25 million more delivery & installation), adjusted EBITDA of about $920 million, and net CapEx of roughly $375 million to support fleet investments; Q3 guidance is for total revenue of about $585 million (≈ +3% YoY) and adjusted EBITDA of ≈ $232 million (≈ 39.7% margin) with D&A ≈ $100 million, interest ≈ $54 million and an effective tax rate near 27%. Management expects sequential margin expansion through H2 (Q2 adj. EBITDA margin was 37.2%, a ~500 bps YoY compression driven ~250 bps by ~$17 million higher cost of leasing/unit transfer, ~160 bps by revenue mix and ~100 bps by SG&A) with flat to positive YoY margin comparisons by Q4. For context, Q2 results included $612 million of revenue (+4% YoY), leasing & services up 6%, delivery & installation up >25%, modular activations +16% YoY (modular pending orders +13%), net income $47 million (diluted EPS $0.26; adjusted EPS $0.28), adjusted EBITDA $228 million, net cash from operations $162 million, Q2 net CapEx $114 million, adjusted free cash flow $55 million, and a balance sheet with net debt ≈ $3.5 billion, 3.7x LTM leverage and roughly $1.5 billion of ABL liquidity.WillScot Mobile Mini Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
34
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.29B | 2.28B | 2.40B | 2.36B | 2.14B | 1.67B |
| Gross Profit | 1.11B | 1.07B | 1.30B | 1.33B | 1.14B | 844.70M |
| EBITDA | 356.83M | 597.30M | 648.89M | 1.01B | 854.99M | 585.98M |
| Net Income | -68.89M | -52.99M | 28.13M | 476.46M | 339.54M | 160.14M |
Balance Sheet | ||||||
| Total Assets | 5.87B | 5.82B | 6.03B | 6.14B | 5.83B | 5.77B |
| Cash, Cash Equivalents and Short-Term Investments | 18.17M | 14.59M | 9.00M | 10.96M | 7.39M | 6.39M |
| Total Debt | 3.79B | 4.14B | 3.98B | 3.80B | 3.30B | 2.90B |
| Total Liabilities | 4.95B | 4.96B | 5.02B | 4.88B | 4.26B | 3.78B |
| Stockholders Equity | 910.66M | 856.25M | 1.02B | 1.26B | 1.57B | 2.00B |
Cash Flow | ||||||
| Free Cash Flow | 537.44M | 737.65M | 262.35M | 512.03M | 257.86M | 230.91M |
| Operating Cash Flow | 703.37M | 761.99M | 561.64M | 761.24M | 744.66M | 539.90M |
| Investing Cash Flow | -341.91M | -417.47M | -362.35M | -350.00M | -309.33M | -384.05M |
| Financing Cash Flow | -355.85M | -340.52M | -200.12M | -418.94M | -429.37M | -167.89M |
WillScot Mobile Mini Holdings Technical Analysis
Negative
21.36
Price Trends
25.68
Negative
24.59
Negative
22.16
Negative
Market Momentum
-1.12
Positive
34.38
Neutral
12.38
Positive
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 21.36 is below the 20-day moving average (MA) of 23.53, below the 50-day MA of 25.68, and below the 200-day MA of 22.16, indicating a bearish trend. The MACD of -1.12 indicates Positive momentum. The RSI at 34.38 is Neutral, neither overbought nor oversold. The STOCH value of 12.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $9.44B | 20.26 | 16.70% | 1.36% | 1.12% | 3.84% | |
71 Outperform | $2.80B | 18.35 | 12.44% | 1.63% | -0.92% | -39.51% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $2.20B | 101.70 | 2.66% | ― | 7.03% | ― | |
57 Neutral | $5.22B | 106.29 | 2.56% | 1.72% | 28.50% | 67.75% | |
55 Neutral | $3.85B | -57.73 | -7.45% | 1.06% | -2.51% | -162.51% |
* Industrials Sector Average
WSC
WillScot Mobile Mini Holdings
21.36
-2.89
-11.93%
HRI
Herc Holdings
156.24
25.44
19.45%
MGRC
Mcgrath Rentcorp
114.15
-8.33
-6.80%
R
Ryder System
249.64
65.79
35.78%
CTOS
Custom Truck One Source
9.59
3.48
56.96%
WillScot Mobile Mini Holdings Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
WillScot Mobile Mini Stockholders Approve 2026 Incentive Plan
Positive
Jun 8, 2026
At its 2026 Annual Meeting of Stockholders held on June 5, 2026, WillScot Holdings Corporation’s investors approved a new 2026 Incentive Award Plan that replaces the 2020 plan as the source of future equity awards, authorizing up to 5,705,78...
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.