Professional
Added to YB: 2026-08-13
Pitch date: 2026-08-10
WSC [neutral]
WillScot Holdings Corporation
-21.94%
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
$23.28
Price Target
N/A
Dividend
1.58%
EV/EBITDA
9.69
P/E
-46.73
EV/Sales
3.05
Sector
Construction and Engineering
Category
N/A
WSC: Acquisitions Hide a Collapsing Core
WSC (short - update): Thesis: TCS/Clearspan acquisitions mask collapsing legacy storage — organic UoR down ~44% in 3yrs, hiding ~$207M annual revenue & ~$154M EBITDA loss (16% of total). $1.9B spent on M&A/CapEx bought zero net growth. FCF -44% by 2026, leverage explodes to 10.9x debt/FCF; $2.9B due by 2030 makes refi near-certain. NPV of cash flows < debt outstanding.
Read full article (8 min)