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Side-by-side financial comparison of CLOVER HEALTH INVESTMENTS, CORP. (CLOV) 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 $487.7M, roughly 1.2× CLOVER HEALTH INVESTMENTS, CORP.). CLOVER HEALTH INVESTMENTS, CORP. runs the higher net margin — -10.1% vs -33.1%, a 23.0% gap on every dollar of revenue. On growth, CLOVER HEALTH INVESTMENTS, CORP. posted the faster year-over-year revenue change (44.7% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-69.0M). Over the past eight quarters, CLOVER HEALTH INVESTMENTS, CORP.'s revenue compounded faster (18.6% CAGR vs -1.8%).
Clover Health Investments, Corp. is an American health care company founded in 2014. The company provides Medicare Advantage (MA) insurance plans and operates as a direct contracting entity with the U.S. government. The company manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8, 2021.
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.
CLOV vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $487.7M | $566.0M |
| Net Profit | $-49.3M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | -10.1% | -32.5% |
| Net Margin | -10.1% | -33.1% |
| Revenue YoY | 44.7% | -6.1% |
| Net Profit YoY | -123.2% | -310.0% |
| EPS (diluted) | — | $-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 | $487.7M | $566.0M | ||
| Q3 25 | $496.6M | $566.8M | ||
| Q2 25 | $477.6M | $589.1M | ||
| Q1 25 | $462.3M | $559.6M | ||
| Q4 24 | $337.0M | $602.5M | ||
| Q3 24 | $331.0M | $601.4M | ||
| Q2 24 | $356.3M | $604.6M | ||
| Q1 24 | $346.9M | $587.2M |
| Q4 25 | $-49.3M | $-187.3M | ||
| Q3 25 | $-24.4M | $43.3M | ||
| Q2 25 | $-10.6M | $47.9M | ||
| Q1 25 | $-1.3M | $43.1M | ||
| Q4 24 | $-22.1M | $89.2M | ||
| Q3 24 | $-9.2M | $-70.5M | ||
| Q2 24 | $7.4M | $-46.9M | ||
| Q1 24 | $-19.2M | $56.2M |
| Q4 25 | — | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | 24.5% | 53.5% | ||
| Q2 24 | 30.3% | 54.1% | ||
| Q1 24 | 23.6% | 54.0% |
| Q4 25 | -10.1% | -32.5% | ||
| Q3 25 | -4.9% | 21.0% | ||
| Q2 25 | -2.2% | 21.5% | ||
| Q1 25 | -0.3% | 21.3% | ||
| Q4 24 | -6.4% | 28.9% | ||
| Q3 24 | -2.7% | -5.9% | ||
| Q2 24 | 2.0% | -0.9% | ||
| Q1 24 | -6.5% | 22.1% |
| Q4 25 | -10.1% | -33.1% | ||
| Q3 25 | -4.9% | 7.6% | ||
| Q2 25 | -2.2% | 8.1% | ||
| Q1 25 | -0.3% | 7.7% | ||
| Q4 24 | -6.6% | 14.8% | ||
| Q3 24 | -2.8% | -11.7% | ||
| Q2 24 | 2.1% | -7.7% | ||
| Q1 24 | -5.5% | 9.6% |
| Q4 25 | — | $-1.02 | ||
| Q3 25 | — | $0.24 | ||
| Q2 25 | — | $0.26 | ||
| Q1 25 | — | $0.23 | ||
| Q4 24 | — | $0.48 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $-0.25 | ||
| Q1 24 | — | $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 | $78.3M | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $308.7M | $856.3M |
| Total Assets | $541.0M | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.3M | $14.6M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | — | $12.8M | ||
| Q1 25 | — | $10.7M | ||
| Q4 24 | $194.5M | $9.0M | ||
| Q3 24 | $288.0M | $11.0M | ||
| Q2 24 | $254.8M | $5.9M | ||
| Q1 24 | $208.3M | $13.1M |
| 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 24 | — | $3.5B |
| Q4 25 | $308.7M | $856.3M | ||
| Q3 25 | $340.9M | $1.1B | ||
| Q2 25 | $344.2M | $1.0B | ||
| Q1 25 | $336.1M | $1.0B | ||
| Q4 24 | $341.1M | $1.0B | ||
| Q3 24 | $342.2M | $1.1B | ||
| Q2 24 | $324.9M | $1.2B | ||
| Q1 24 | $292.5M | $1.3B |
| Q4 25 | $541.0M | $5.8B | ||
| Q3 25 | $559.7M | $6.1B | ||
| Q2 25 | $575.0M | $6.1B | ||
| Q1 25 | $583.7M | $6.0B | ||
| Q4 24 | $580.7M | $6.0B | ||
| Q3 24 | $653.0M | $6.0B | ||
| Q2 24 | $674.2M | $6.0B | ||
| Q1 24 | $671.8M | $6.2B |
| 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× | ||
| Q1 24 | — | 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 | $-66.9M | $158.9M |
| Free Cash FlowOCF − Capex | $-69.0M | $149.7M |
| FCF MarginFCF / Revenue | -14.1% | 26.5% |
| Capex IntensityCapex / Revenue | 0.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-69.2M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-66.9M | $158.9M | ||
| Q3 25 | $12.1M | $191.2M | ||
| Q2 25 | $5.4M | $205.3M | ||
| Q1 25 | $-16.3M | $206.6M | ||
| Q4 24 | $34.8M | $178.9M | ||
| Q3 24 | $50.0M | $-1.6M | ||
| Q2 24 | $44.8M | $175.6M | ||
| Q1 24 | $25.9M | $208.7M |
| Q4 25 | $-69.0M | $149.7M | ||
| Q3 25 | $11.4M | $186.9M | ||
| Q2 25 | $4.8M | $199.0M | ||
| Q1 25 | $-16.5M | $202.0M | ||
| Q4 24 | $33.3M | $176.6M | ||
| Q3 24 | $49.6M | $-4.9M | ||
| Q2 24 | $44.4M | $169.4M | ||
| Q1 24 | $25.5M | $202.1M |
| Q4 25 | -14.1% | 26.5% | ||
| Q3 25 | 2.3% | 33.0% | ||
| Q2 25 | 1.0% | 33.8% | ||
| Q1 25 | -3.6% | 36.1% | ||
| Q4 24 | 9.9% | 29.3% | ||
| Q3 24 | 15.0% | -0.8% | ||
| Q2 24 | 12.5% | 28.0% | ||
| Q1 24 | 7.3% | 34.4% |
| Q4 25 | 0.4% | 1.6% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.1% | 1.1% | ||
| Q1 25 | 0.0% | 0.8% | ||
| Q4 24 | 0.5% | 0.4% | ||
| Q3 24 | 0.1% | 0.6% | ||
| Q2 24 | 0.1% | 1.0% | ||
| Q1 24 | 0.1% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.04× | — | ||
| Q1 24 | — | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLOV
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% |
