EquipmentShare.com Inc. (EQPT) vs WillScot Holdings Corporation (WSC)

EquipmentShare.com Inc. and WillScot Holdings Corporation are both Rental & Leasing Services companies. EquipmentShare.com Inc. is the larger, with a market value of $3.7B against $3.0B — 1.2× the size. WillScot Holdings Corporation has negative trailing earnings, so its P/E is not meaningful; EquipmentShare.com Inc. trades at 15.1×. EquipmentShare.com Inc. has the higher net margin (1.03% vs −3.00%) and the higher return on invested capital (23.5% vs 2.13%). Across the 17 metrics below, EquipmentShare.com Inc. leads on 14 and WillScot Holdings Corporation on 3.

Valuation

Metric EQPT WSC Rental & Leasing Services median
P/E 15.14 n/m 18.17
P/S 0.67 1.25 0.92
P/B 2.84 3.16 2.15
Price to free cash flow n/m 7.76 7.80
EV/EBITDA 3.33 11.21 7.72
EV/Sales 1.32 2.77 2.47
Earnings yield 6.61% (2.33%) 1.00%
Free cash flow yield (49.41%) 12.89% 1.43%

Profitability

Metric EQPT WSC Rental & Leasing Services median
Gross margin 49.70% 64.16% 49.40%
Operating margin 33.57% 6.51% 8.49%
Net margin 1.03% (3.00%) 1.01%
Free cash flow margin (32.95%) 16.18% 1.87%
Return on equity 0.00% (7.08%) 12.13%
Return on assets 1.49% (1.15%) 0.24%
Return on invested capital 23.50% 2.13% 2.80%

Growth

Metric EQPT WSC Rental & Leasing Services median
Revenue growth (TTM) — (2.51%) 3.21%
EPS growth (last fiscal year) (74.36%) (293.33%) (8.44%)
Revenue growth, 5-year CAGR — 12.38% 12.97%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric EQPT WSC Rental & Leasing Services median
Debt to equity 3.16 3.84 1.48
Current ratio 2.42 0.81 1.36
Net debt to EBITDA 4.59 5.73 4.32

Dividend

Metric EQPT WSC Rental & Leasing Services median
Dividend yield — 1.76% 1.56%
Payout ratio — — 0.22

Size

Metric EQPT WSC Rental & Leasing Services median
Market cap 3.66b 2.97b 2.43b

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