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. and WillScot Holdings Corporation are of similar size ($3.5B and $3.2B). WillScot Holdings Corporation has negative trailing earnings, so its P/E is not meaningful; EquipmentShare.com Inc. trades at 15.4×. EquipmentShare.com Inc. has the higher net margin (1.03% vs −2.60%) and the higher return on invested capital (23.5% vs 2.23%). 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 15.37 n/m 20.11
P/S 0.68 1.39 1.11
P/B 2.88 3.37 2.44
Price to free cash flow n/m 8.57 11.04
EV/EBITDA 3.36 11.77 8.70
EV/Sales 1.33 2.87 2.87
Earnings yield 6.51% (1.85%) 3.40%
Free cash flow yield (48.66%) 11.67% 0.63%

Profitability

Metric EQPT WSC Rental & Leasing Services median
Gross margin 49.70% 63.84% 48.46%
Operating margin 33.57% 6.73% 8.37%
Net margin 1.03% (2.60%) 1.97%
Free cash flow margin (32.95%) 30.51% 2.91%
Return on equity 0.00% (6.01%) 12.31%
Return on assets 1.49% (1.01%) 0.88%
Return on invested capital 23.50% 2.23% 2.86%

Growth

Metric EQPT WSC Rental & Leasing Services median
Revenue growth (TTM) — 0.44% 4.47%
EPS growth (last fiscal year) 102.08% (293.33%) 1.04%
Revenue growth, 5-year CAGR — 12.38% 11.45%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric EQPT WSC Rental & Leasing Services median
Debt to equity 3.16 3.60 1.28
Current ratio 2.42 0.78 1.01
Net debt to EBITDA 4.59 5.73 4.19

Dividend

Metric EQPT WSC Rental & Leasing Services median
Dividend yield — 1.57% 1.38%
Payout ratio — — 0.24

Size

Metric EQPT WSC Rental & Leasing Services median
Market cap 3.47b 3.23b 3.37b

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