Ryder System, Inc. (R) vs WillScot Holdings Corporation (WSC)

Ryder System, Inc. and WillScot Holdings Corporation are both Rental & Leasing Services companies. Ryder System, Inc. is the larger, with a market value of $9.1B against $3.2B — 2.8× the size. WillScot Holdings Corporation has negative trailing earnings, so its P/E is not meaningful; Ryder System, Inc. trades at 19.2×. Ryder System, Inc. grew revenue faster over the last twelve months: 1.12% against −2.51%. Ryder System, Inc. has the higher net margin (3.87% vs −3.00%) and the higher return on invested capital (6.20% vs 2.13%). Across the 20 metrics below, Ryder System, Inc. leads on 16 and WillScot Holdings Corporation on 4.

Valuation

Metric R WSC Rental & Leasing Services median
P/E 19.17 n/m 19.17
P/S 0.71 1.43 0.99
P/B 3.15 3.61 2.23
Price to free cash flow 7.76 8.87 8.31
EV/EBITDA 5.69 11.94 7.84
EV/Sales 1.27 2.95 2.53
Earnings yield 5.22% (2.04%) 0.95%
Free cash flow yield 12.89% 11.28% 1.43%

Profitability

Metric R WSC Rental & Leasing Services median
Gross margin 19.82% 64.16% 49.40%
Operating margin 7.82% 6.51% 8.49%
Net margin 3.87% (3.00%) 1.01%
Free cash flow margin 9.11% 16.18% 1.87%
Return on equity 16.66% (7.08%) 12.13%
Return on assets 3.05% (1.15%) 0.24%
Return on invested capital 6.20% 2.13% 2.80%

Growth

Metric R WSC Rental & Leasing Services median
Revenue growth (TTM) 1.12% (2.51%) 3.21%
EPS growth (last fiscal year) 7.96% (293.33%) —
Revenue growth, 5-year CAGR 8.51% 12.38% 12.97%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric R WSC Rental & Leasing Services median
Debt to equity 2.59 3.84 1.48
Current ratio 0.65 0.81 1.36
Net debt to EBITDA 2.56 5.73 4.32

Dividend

Metric R WSC Rental & Leasing Services median
Dividend yield 2.28% — 1.59%
Payout ratio 0.22 0.00 0.00

Size

Metric R WSC Rental & Leasing Services median
Market cap 9.06b 3.22b 2.42b

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