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Side-by-side financial comparison of American Homes 4 Rent (AMH) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
WillScot Holdings Corp is the larger business by last-quarter revenue ($566.0M vs $455.0M, roughly 1.2× American Homes 4 Rent). American Homes 4 Rent runs the higher net margin — 31.7% vs -33.1%, a 64.8% gap on every dollar of revenue. On growth, American Homes 4 Rent posted the faster year-over-year revenue change (4.2% vs -6.1%). American Homes 4 Rent produced more free cash flow last quarter ($823.7M vs $149.7M). Over the past eight quarters, American Homes 4 Rent's revenue compounded faster (3.6% CAGR vs -1.8%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
AMH vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $566.0M |
| Net Profit | $144.3M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | — | -32.5% |
| Net Margin | 31.7% | -33.1% |
| Revenue YoY | 4.2% | -6.1% |
| Net Profit YoY | 0.3% | -310.0% |
| EPS (diluted) | $0.33 | $-1.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $566.0M | ||
| Q3 25 | $478.5M | $566.8M | ||
| Q2 25 | $457.5M | $589.1M | ||
| Q1 25 | $459.3M | $559.6M | ||
| Q4 24 | $436.6M | $602.5M | ||
| Q3 24 | $445.1M | $601.4M | ||
| Q2 24 | $423.5M | $604.6M | ||
| Q1 24 | $423.6M | $587.2M |
| Q4 25 | $144.3M | $-187.3M | ||
| Q3 25 | $116.8M | $43.3M | ||
| Q2 25 | $123.6M | $47.9M | ||
| Q1 25 | $128.7M | $43.1M | ||
| Q4 24 | $143.9M | $89.2M | ||
| Q3 24 | $87.6M | $-70.5M | ||
| Q2 24 | $108.5M | $-46.9M | ||
| Q1 24 | $128.1M | $56.2M |
| Q4 25 | — | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | — | 54.1% | ||
| Q1 24 | — | 54.0% |
| Q4 25 | — | -32.5% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | — | 21.3% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | — | -5.9% | ||
| Q2 24 | — | -0.9% | ||
| Q1 24 | — | 22.1% |
| Q4 25 | 31.7% | -33.1% | ||
| Q3 25 | 24.4% | 7.6% | ||
| Q2 25 | 27.0% | 8.1% | ||
| Q1 25 | 28.0% | 7.7% | ||
| Q4 24 | 33.0% | 14.8% | ||
| Q3 24 | 19.7% | -11.7% | ||
| Q2 24 | 25.6% | -7.7% | ||
| Q1 24 | 30.2% | 9.6% |
| Q4 25 | $0.33 | $-1.02 | ||
| Q3 25 | $0.27 | $0.24 | ||
| Q2 25 | $0.28 | $0.26 | ||
| Q1 25 | $0.30 | $0.23 | ||
| Q4 24 | $0.33 | $0.48 | ||
| Q3 24 | $0.20 | $-0.37 | ||
| Q2 24 | $0.25 | $-0.25 | ||
| Q1 24 | $0.30 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $14.6M |
| Total DebtLower is stronger | $5.1B | $3.6B |
| Stockholders' EquityBook value | $7.0B | $856.3M |
| Total Assets | $13.2B | $5.8B |
| Debt / EquityLower = less leverage | 0.72× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $14.6M | ||
| Q3 25 | $45.6M | $14.8M | ||
| Q2 25 | $323.3M | $12.8M | ||
| Q1 25 | $69.7M | $10.7M | ||
| Q4 24 | $199.4M | $9.0M | ||
| Q3 24 | $162.5M | $11.0M | ||
| Q2 24 | $718.4M | $5.9M | ||
| Q1 24 | $124.8M | $13.1M |
| Q4 25 | $5.1B | $3.6B | ||
| Q3 25 | $4.8B | $3.6B | ||
| Q2 25 | $5.2B | $3.7B | ||
| Q1 25 | $4.9B | $3.6B | ||
| Q4 24 | $5.0B | $3.7B | ||
| Q3 24 | $4.5B | $3.6B | ||
| Q2 24 | $5.0B | $3.5B | ||
| Q1 24 | $4.5B | $3.5B |
| Q4 25 | $7.0B | $856.3M | ||
| Q3 25 | $7.2B | $1.1B | ||
| Q2 25 | $7.2B | $1.0B | ||
| Q1 25 | $7.2B | $1.0B | ||
| Q4 24 | $7.2B | $1.0B | ||
| Q3 24 | $7.0B | $1.1B | ||
| Q2 24 | $7.0B | $1.2B | ||
| Q1 24 | $7.0B | $1.3B |
| Q4 25 | $13.2B | $5.8B | ||
| Q3 25 | $13.3B | $6.1B | ||
| Q2 25 | $13.6B | $6.1B | ||
| Q1 25 | $13.3B | $6.0B | ||
| Q4 24 | $13.4B | $6.0B | ||
| Q3 24 | $12.8B | $6.0B | ||
| Q2 24 | $13.3B | $6.0B | ||
| Q1 24 | $12.8B | $6.2B |
| Q4 25 | 0.72× | 4.15× | ||
| Q3 25 | 0.68× | 3.39× | ||
| Q2 25 | 0.72× | 3.55× | ||
| Q1 25 | 0.69× | 3.56× | ||
| Q4 24 | 0.70× | 3.62× | ||
| Q3 24 | 0.64× | 3.42× | ||
| Q2 24 | 0.71× | 2.88× | ||
| Q1 24 | 0.64× | 2.63× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $864.3M | $158.9M |
| Free Cash FlowOCF − Capex | $823.7M | $149.7M |
| FCF MarginFCF / Revenue | 181.0% | 26.5% |
| Capex IntensityCapex / Revenue | 8.9% | 1.6% |
| Cash ConversionOCF / Net Profit | 5.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | $158.9M | ||
| Q3 25 | $223.3M | $191.2M | ||
| Q2 25 | $271.9M | $205.3M | ||
| Q1 25 | $223.4M | $206.6M | ||
| Q4 24 | $811.5M | $178.9M | ||
| Q3 24 | $233.6M | $-1.6M | ||
| Q2 24 | $274.0M | $175.6M | ||
| Q1 24 | $201.8M | $208.7M |
| Q4 25 | $823.7M | $149.7M | ||
| Q3 25 | $214.5M | $186.9M | ||
| Q2 25 | $257.7M | $199.0M | ||
| Q1 25 | $215.9M | $202.0M | ||
| Q4 24 | $777.5M | $176.6M | ||
| Q3 24 | $225.3M | $-4.9M | ||
| Q2 24 | $263.3M | $169.4M | ||
| Q1 24 | $191.0M | $202.1M |
| Q4 25 | 181.0% | 26.5% | ||
| Q3 25 | 44.8% | 33.0% | ||
| Q2 25 | 56.3% | 33.8% | ||
| Q1 25 | 47.0% | 36.1% | ||
| Q4 24 | 178.1% | 29.3% | ||
| Q3 24 | 50.6% | -0.8% | ||
| Q2 24 | 62.2% | 28.0% | ||
| Q1 24 | 45.1% | 34.4% |
| Q4 25 | 8.9% | 1.6% | ||
| Q3 25 | 1.8% | 0.7% | ||
| Q2 25 | 3.1% | 1.1% | ||
| Q1 25 | 1.6% | 0.8% | ||
| Q4 24 | 7.8% | 0.4% | ||
| Q3 24 | 1.9% | 0.6% | ||
| Q2 24 | 2.5% | 1.0% | ||
| Q1 24 | 2.6% | 1.1% |
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | 4.41× | ||
| Q2 25 | 2.20× | 4.28× | ||
| Q1 25 | 1.74× | 4.80× | ||
| Q4 24 | 5.64× | 2.01× | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
