WillScot Holdings Corporation
investors.willscot.comWhat Do They Do?
Leases modular workspaces and portable storage containers, and sells units and provides delivery and installation services to customers across construction, education, retail and other end markets.
10-K for FY2025, filed Feb 19, 2026Headquartered in Scottsdale, Arizona, we are a leading business services provider specializing in innovative and flexible turnkey temporary…View ↗
With roots dating back more than 80 years, we service diverse end markets across all sectors of the economy from a network of approximately…View ↗
We operate a hybrid in-house and outsourced logistics and service infrastructure that provides delivery, site work, installation…View ↗
How Do They Make Money?
Customers are billed every 28 days or monthly for leased units, with payment generally due soon after invoicing. Delivery and installation fees are tied to work as performed, while unit sales are tied to delivery and installation.
10-K for FY2025, filed Feb 19, 2026Rental equipment is leased under operating leases. Rental contracts with customers are generally based on a 28‑day or monthly rate and…View ↗
The Company's payment terms vary by the type and location of its customer and the product or services offered. The time between invoicing…View ↗
Consideration is allocated to each of these performance obligations within the contract based upon their estimated relative standalone…View ↗
Sales revenue is generated by the sale of new and rental units. Revenue from the sale of new and rental units is generally recognized at a…View ↗
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10-K for FY2025, filed Feb 19, 2026
FY2025 revenue by product or service ↗
$2.3B
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10-K for FY2025, filed Feb 19, 2026
$2.3B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Leasing revenue
Recurring
10-K for FY2025, filed Feb 19, 2026 |
77%
FY2022: 76%
|
Leasing revenue, FY2025
$1.7B Sources
|
Recurring |
|
Delivery and Installation
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
17%
FY2022: 20%
|
Delivery and Installation, FY2025
$388.9M Sources
|
Sold outright |
|
New units
Sold outright
|
3.4%
FY2022: 1.9%
|
New units, FY2025
$77.9M Sources
|
Sold outright |
|
Rental units
Sold outright
|
2.9%
FY2022: 2.4%
|
Rental units, FY2025
$65.6M Sources
|
Sold outright |
Who Are Their Customers?
Serves customers in construction, commercial and industrial, and other end markets through its branch network across the United States, Canada and Mexico. An ecommerce option provides self-service capabilities.
10-K for FY2025, filed Feb 19, 2026With roots dating back more than 80 years, we service diverse end markets across all sectors of the economy from a network of approximately…View ↗
We operate a hybrid in-house and outsourced logistics and service infrastructure that provides delivery, site work, installation…View ↗
Expanding our Enterprise Accounts and business development team with a focus on key industry verticals, Investing in the sales force and…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $53M in FY2025, but brought in more cash than it spent: $737.7M of free cash flow.
10-K for FY2025, filed Feb 19, 2026
$181.5MView ↗
10-K for FY2025, filed Feb 19, 2026
−$53MView ↗
10-K for FY2025, filed Feb 19, 2026
$737.7MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 6, 2026
Open tableView ↗
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Aug 6, 2026
Raises full-year outlook for revenue, adjusted EBITDA and capital spending
After second-quarter results, the company raised its full-year revenue and adjusted EBITDA outlook and increased its capital spending outlook.
Sources
8-K, filed Aug 6, 2026
AND RAISES 2026 FULL YEAR OUTLOOKView ↗
Expanded sanitation services
The older report describes restroom facilities as features of modular units; the latest also presents sanitation rentals and servicing, including stand-alone restroom trailers and third-party units, as a value-added offering.
10-K for FY2022, filed Feb 22, 2023 10-K for FY2025, filed Feb 19, 2026Other Modular Space. We offer a range of other specialty products that vary across regions and provide flexibility to serve demands for…View ↗
Sanitation. Sanitation rentals and servicing are also part of our VAPS portfolio. Sanitation services, whether for built-in restrooms…View ↗
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