Professional
Added to YB: 2024-09-30
Pitch date: 2024-09-26
WSC [bearish]
WillScot Holdings Corporation
+49.14%
current return
Author Info
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Company Info
WillScot Holdings Corporation provides turnkey temporary space solutions in the United States, Canada, and Mexico.
Market Cap
$3.2B
Pitch Price
$39.08
Price Target
N/A
Dividend
1.59%
EV/EBITDA
9.64
P/E
14.64
EV/Sales
3.06
Sector
Construction and Engineering
Category
turnaround
Willscot Mobile Mini: Death of a Roll-up
WSC short: FTC blocks MGRC deal, ending roll-up growth. 16.8% provision for credit losses vs 1% peers signals accounting risk. Pricing power fading, VAPS stagnant. URI competition rising. EBITDA growth cut to 4% for 2024. FCF declining as CapEx rises. $525M debt due 2025, $1.8B 2027. Ancient fleet needs investment. Buybacks vs debt repayment dilemma.
Read full article (11 min)