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Side-by-side financial comparison of F5, Inc. (FFIV) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
F5, Inc. is the larger business by last-quarter revenue ($822.5M vs $566.0M, roughly 1.5× WillScot Holdings Corp). F5, Inc. runs the higher net margin — 21.9% vs -33.1%, a 55.0% gap on every dollar of revenue. On growth, F5, Inc. posted the faster year-over-year revenue change (7.3% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $149.5M). Over the past eight quarters, F5, Inc.'s revenue compounded faster (9.9% CAGR vs -1.8%).
F5, Inc. is an American technology company specializing in application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, and network security, access, and authorization.
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.
FFIV vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $566.0M |
| Net Profit | $180.1M | $-187.3M |
| Gross Margin | 81.5% | 50.4% |
| Operating Margin | 26.0% | -32.5% |
| Net Margin | 21.9% | -33.1% |
| Revenue YoY | 7.3% | -6.1% |
| Net Profit YoY | 8.2% | -310.0% |
| EPS (diluted) | $3.10 | $-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 | $822.5M | $566.0M | ||
| Q3 25 | $810.1M | $566.8M | ||
| Q2 25 | $780.4M | $589.1M | ||
| Q1 25 | $731.1M | $559.6M | ||
| Q4 24 | $766.5M | $602.5M | ||
| Q3 24 | $746.7M | $601.4M | ||
| Q2 24 | $695.5M | $604.6M | ||
| Q1 24 | $681.4M | $587.2M |
| Q4 25 | $180.1M | $-187.3M | ||
| Q3 25 | $190.5M | $43.3M | ||
| Q2 25 | $189.9M | $47.9M | ||
| Q1 25 | $145.5M | $43.1M | ||
| Q4 24 | $166.4M | $89.2M | ||
| Q3 24 | $165.3M | $-70.5M | ||
| Q2 24 | $144.1M | $-46.9M | ||
| Q1 24 | $119.0M | $56.2M |
| Q4 25 | 81.5% | 50.4% | ||
| Q3 25 | 82.2% | 49.7% | ||
| Q2 25 | 81.0% | 50.3% | ||
| Q1 25 | 80.7% | 53.7% | ||
| Q4 24 | 81.7% | 55.8% | ||
| Q3 24 | 80.8% | 53.5% | ||
| Q2 24 | 80.4% | 54.1% | ||
| Q1 24 | 79.3% | 54.0% |
| Q4 25 | 26.0% | -32.5% | ||
| Q3 25 | 25.4% | 21.0% | ||
| Q2 25 | 25.2% | 21.5% | ||
| Q1 25 | 21.7% | 21.3% | ||
| Q4 24 | 26.8% | 28.9% | ||
| Q3 24 | 25.6% | -5.9% | ||
| Q2 24 | 23.4% | -0.9% | ||
| Q1 24 | 20.5% | 22.1% |
| Q4 25 | 21.9% | -33.1% | ||
| Q3 25 | 23.5% | 7.6% | ||
| Q2 25 | 24.3% | 8.1% | ||
| Q1 25 | 19.9% | 7.7% | ||
| Q4 24 | 21.7% | 14.8% | ||
| Q3 24 | 22.1% | -11.7% | ||
| Q2 24 | 20.7% | -7.7% | ||
| Q1 24 | 17.5% | 9.6% |
| Q4 25 | $3.10 | $-1.02 | ||
| Q3 25 | $3.25 | $0.24 | ||
| Q2 25 | $3.25 | $0.26 | ||
| Q1 25 | $2.48 | $0.23 | ||
| Q4 24 | $2.82 | $0.48 | ||
| Q3 24 | $2.79 | $-0.37 | ||
| Q2 24 | $2.44 | $-0.25 | ||
| Q1 24 | $2.00 | $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 | $1.2B | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $3.5B | $856.3M |
| Total Assets | $6.3B | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $14.6M | ||
| Q3 25 | $1.3B | $14.8M | ||
| Q2 25 | $1.4B | $12.8M | ||
| Q1 25 | $1.3B | $10.7M | ||
| Q4 24 | $1.2B | $9.0M | ||
| Q3 24 | $1.1B | $11.0M | ||
| Q2 24 | $935.6M | $5.9M | ||
| Q1 24 | $903.5M | $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 | $3.5B | $856.3M | ||
| Q3 25 | $3.6B | $1.1B | ||
| Q2 25 | $3.5B | $1.0B | ||
| Q1 25 | $3.3B | $1.0B | ||
| Q4 24 | $3.2B | $1.0B | ||
| Q3 24 | $3.1B | $1.1B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $2.9B | $1.3B |
| Q4 25 | $6.3B | $5.8B | ||
| Q3 25 | $6.3B | $6.1B | ||
| Q2 25 | $6.1B | $6.1B | ||
| Q1 25 | $5.9B | $6.0B | ||
| Q4 24 | $5.9B | $6.0B | ||
| Q3 24 | $5.6B | $6.0B | ||
| Q2 24 | $5.4B | $6.0B | ||
| Q1 24 | $5.4B | $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 | $159.2M | $158.9M |
| Free Cash FlowOCF − Capex | $149.5M | $149.7M |
| FCF MarginFCF / Revenue | 18.2% | 26.5% |
| Capex IntensityCapex / Revenue | 1.2% | 1.6% |
| Cash ConversionOCF / Net Profit | 0.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | $861.2M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $159.2M | $158.9M | ||
| Q3 25 | $208.1M | $191.2M | ||
| Q2 25 | $282.2M | $205.3M | ||
| Q1 25 | $256.6M | $206.6M | ||
| Q4 24 | $202.8M | $178.9M | ||
| Q3 24 | $246.5M | $-1.6M | ||
| Q2 24 | $159.0M | $175.6M | ||
| Q1 24 | $221.6M | $208.7M |
| Q4 25 | $149.5M | $149.7M | ||
| Q3 25 | $191.9M | $186.9M | ||
| Q2 25 | $273.7M | $199.0M | ||
| Q1 25 | $246.1M | $202.0M | ||
| Q4 24 | $194.7M | $176.6M | ||
| Q3 24 | $240.4M | $-4.9M | ||
| Q2 24 | $153.1M | $169.4M | ||
| Q1 24 | $212.2M | $202.1M |
| Q4 25 | 18.2% | 26.5% | ||
| Q3 25 | 23.7% | 33.0% | ||
| Q2 25 | 35.1% | 33.8% | ||
| Q1 25 | 33.7% | 36.1% | ||
| Q4 24 | 25.4% | 29.3% | ||
| Q3 24 | 32.2% | -0.8% | ||
| Q2 24 | 22.0% | 28.0% | ||
| Q1 24 | 31.1% | 34.4% |
| Q4 25 | 1.2% | 1.6% | ||
| Q3 25 | 2.0% | 0.7% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | 1.4% | 0.8% | ||
| Q4 24 | 1.1% | 0.4% | ||
| Q3 24 | 0.8% | 0.6% | ||
| Q2 24 | 0.8% | 1.0% | ||
| Q1 24 | 1.4% | 1.1% |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.09× | 4.41× | ||
| Q2 25 | 1.49× | 4.28× | ||
| Q1 25 | 1.76× | 4.80× | ||
| Q4 24 | 1.22× | 2.01× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.10× | — | ||
| Q1 24 | 1.86× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFIV
| Services | $412.2M | 50% |
| Products | $410.3M | 50% |
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% |
