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Side-by-side financial comparison of BELDEN INC. (BDC) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $566.0M, roughly 1.2× WillScot Holdings Corp). BELDEN INC. runs the higher net margin — 7.3% vs -33.1%, a 40.4% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs -1.8%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
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.
BDC vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $566.0M |
| Net Profit | $51.0M | $-187.3M |
| Gross Margin | 37.1% | 50.4% |
| Operating Margin | 11.2% | -32.5% |
| Net Margin | 7.3% | -33.1% |
| Revenue YoY | 11.4% | -6.1% |
| Net Profit YoY | -1.8% | -310.0% |
| EPS (diluted) | $1.30 | $-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.
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $566.0M | ||
| Q3 25 | $698.2M | $566.8M | ||
| Q2 25 | $672.0M | $589.1M | ||
| Q1 25 | $624.9M | $559.6M | ||
| Q4 24 | $666.0M | $602.5M | ||
| Q3 24 | $654.9M | $601.4M | ||
| Q2 24 | $604.3M | $604.6M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $-187.3M | ||
| Q3 25 | $56.7M | $43.3M | ||
| Q2 25 | $61.0M | $47.9M | ||
| Q1 25 | $51.9M | $43.1M | ||
| Q4 24 | $58.4M | $89.2M | ||
| Q3 24 | $53.7M | $-70.5M | ||
| Q2 24 | $49.0M | $-46.9M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 50.4% | ||
| Q3 25 | 37.7% | 49.7% | ||
| Q2 25 | 38.5% | 50.3% | ||
| Q1 25 | 39.3% | 53.7% | ||
| Q4 24 | 37.5% | 55.8% | ||
| Q3 24 | 37.3% | 53.5% | ||
| Q2 24 | 37.5% | 54.1% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | -32.5% | ||
| Q3 25 | 10.9% | 21.0% | ||
| Q2 25 | 11.8% | 21.5% | ||
| Q1 25 | 11.6% | 21.3% | ||
| Q4 24 | 10.4% | 28.9% | ||
| Q3 24 | 11.5% | -5.9% | ||
| Q2 24 | 11.4% | -0.9% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | -33.1% | ||
| Q3 25 | 8.1% | 7.6% | ||
| Q2 25 | 9.1% | 8.1% | ||
| Q1 25 | 8.3% | 7.7% | ||
| Q4 24 | 8.8% | 14.8% | ||
| Q3 24 | 8.2% | -11.7% | ||
| Q2 24 | 8.1% | -7.7% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $-1.02 | ||
| Q3 25 | $1.41 | $0.24 | ||
| Q2 25 | $1.53 | $0.26 | ||
| Q1 25 | $1.27 | $0.23 | ||
| Q4 24 | $1.41 | $0.48 | ||
| Q3 24 | $1.30 | $-0.37 | ||
| Q2 24 | $1.19 | $-0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $14.6M |
| Total DebtLower is stronger | $1.3B | $3.6B |
| Stockholders' EquityBook value | $1.3B | $856.3M |
| Total Assets | — | $5.8B |
| Debt / EquityLower = less leverage | 0.98× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $14.6M | ||
| Q3 25 | $314.3M | $14.8M | ||
| Q2 25 | $301.5M | $12.8M | ||
| Q1 25 | $259.0M | $10.7M | ||
| Q4 24 | $370.3M | $9.0M | ||
| Q3 24 | $323.0M | $11.0M | ||
| Q2 24 | $564.8M | $5.9M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $856.3M | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $5.8B | ||
| Q3 25 | $3.4B | $6.1B | ||
| Q2 25 | $3.4B | $6.1B | ||
| Q1 25 | $3.3B | $6.0B | ||
| Q4 24 | $3.3B | $6.0B | ||
| Q3 24 | $3.3B | $6.0B | ||
| Q2 24 | $3.5B | $6.0B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× |
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 | — | $158.9M |
| Free Cash FlowOCF − Capex | $-63.1M | $149.7M |
| FCF MarginFCF / Revenue | -9.1% | 26.5% |
| Capex IntensityCapex / Revenue | 6.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $158.9M | ||
| Q3 25 | $105.0M | $191.2M | ||
| Q2 25 | $82.0M | $205.3M | ||
| Q1 25 | $7.4M | $206.6M | ||
| Q4 24 | $174.7M | $178.9M | ||
| Q3 24 | $91.7M | $-1.6M | ||
| Q2 24 | $83.0M | $175.6M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $149.7M | ||
| Q3 25 | $65.3M | $186.9M | ||
| Q2 25 | $56.9M | $199.0M | ||
| Q1 25 | $-24.8M | $202.0M | ||
| Q4 24 | $116.4M | $176.6M | ||
| Q3 24 | $67.2M | $-4.9M | ||
| Q2 24 | $61.0M | $169.4M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 26.5% | ||
| Q3 25 | 9.4% | 33.0% | ||
| Q2 25 | 8.5% | 33.8% | ||
| Q1 25 | -4.0% | 36.1% | ||
| Q4 24 | 17.5% | 29.3% | ||
| Q3 24 | 10.3% | -0.8% | ||
| Q2 24 | 10.1% | 28.0% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.6% | ||
| Q3 25 | 5.7% | 0.7% | ||
| Q2 25 | 3.7% | 1.1% | ||
| Q1 25 | 5.2% | 0.8% | ||
| Q4 24 | 8.8% | 0.4% | ||
| Q3 24 | 3.7% | 0.6% | ||
| Q2 24 | 3.6% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 4.41× | ||
| Q2 25 | 1.34× | 4.28× | ||
| Q1 25 | 0.14× | 4.80× | ||
| Q4 24 | 2.99× | 2.01× | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
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% |
