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Side-by-side financial comparison of FEDERATED HERMES, INC. (FHI) 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 $479.0M, roughly 1.2× FEDERATED HERMES, INC.). FEDERATED HERMES, INC. runs the higher net margin — 20.1% vs -33.1%, a 53.2% gap on every dollar of revenue. On growth, FEDERATED HERMES, INC. posted the faster year-over-year revenue change (-0.8% vs -6.1%). Over the past eight quarters, FEDERATED HERMES, INC.'s revenue compounded faster (9.1% CAGR vs -1.8%).
Federated Hermes is an investment manager headquartered in Pittsburgh, Pennsylvania, United States. Founded in 1955 and incorporated on October 18, 1957, the company manages $902.6 billion of customer assets, as of December 2025. The company offers investments spanning equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies, including mutual funds, exchange-traded funds (ETFs), separate accounts, closed-end funds and collective investment funds. Clie...
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.
FHI vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.0M | $566.0M |
| Net Profit | $96.4M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 26.4% | -32.5% |
| Net Margin | 20.1% | -33.1% |
| Revenue YoY | -0.8% | -6.1% |
| Net Profit YoY | — | -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.
| Q1 26 | $479.0M | — | ||
| Q4 25 | $482.8M | $566.0M | ||
| Q3 25 | $469.4M | $566.8M | ||
| Q2 25 | $424.8M | $589.1M | ||
| Q1 25 | $423.5M | $559.6M | ||
| Q4 24 | $424.7M | $602.5M | ||
| Q3 24 | $408.5M | $601.4M | ||
| Q2 24 | $402.6M | $604.6M |
| Q1 26 | $96.4M | — | ||
| Q4 25 | $107.0M | $-187.3M | ||
| Q3 25 | $104.1M | $43.3M | ||
| Q2 25 | $91.0M | $47.9M | ||
| Q1 25 | $101.1M | $43.1M | ||
| Q4 24 | $84.7M | $89.2M | ||
| Q3 24 | $87.5M | $-70.5M | ||
| Q2 24 | $21.0M | $-46.9M |
| Q1 26 | — | — | ||
| 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 26 | 26.4% | — | ||
| Q4 25 | 28.1% | -32.5% | ||
| Q3 25 | 27.6% | 21.0% | ||
| Q2 25 | 27.6% | 21.5% | ||
| Q1 25 | 31.1% | 21.3% | ||
| Q4 24 | 26.0% | 28.9% | ||
| Q3 24 | 27.4% | -5.9% | ||
| Q2 24 | 10.1% | -0.9% |
| Q1 26 | 20.1% | — | ||
| Q4 25 | 22.2% | -33.1% | ||
| Q3 25 | 22.2% | 7.6% | ||
| Q2 25 | 21.4% | 8.1% | ||
| Q1 25 | 23.9% | 7.7% | ||
| Q4 24 | 19.9% | 14.8% | ||
| Q3 24 | 21.4% | -11.7% | ||
| Q2 24 | 5.2% | -7.7% |
| Q1 26 | — | — | ||
| Q4 25 | $1.38 | $-1.02 | ||
| Q3 25 | $1.34 | $0.24 | ||
| Q2 25 | $1.16 | $0.26 | ||
| Q1 25 | $1.25 | $0.23 | ||
| Q4 24 | $1.08 | $0.48 | ||
| Q3 24 | $1.06 | $-0.37 | ||
| Q2 24 | $0.20 | $-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 | — | $14.6M |
| Total DebtLower is stronger | $348.4M | $3.6B |
| Stockholders' EquityBook value | $100.8B | $856.3M |
| Total Assets | $2.1B | $5.8B |
| Debt / EquityLower = less leverage | 0.00× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $582.5M | $14.6M | ||
| Q3 25 | $506.3M | $14.8M | ||
| Q2 25 | $371.0M | $12.8M | ||
| Q1 25 | $387.6M | $10.7M | ||
| Q4 24 | $504.4M | $9.0M | ||
| Q3 24 | $375.0M | $11.0M | ||
| Q2 24 | $307.4M | $5.9M |
| Q1 26 | $348.4M | — | ||
| Q4 25 | $348.4M | $3.6B | ||
| Q3 25 | $348.3M | $3.6B | ||
| Q2 25 | $348.2M | $3.7B | ||
| Q1 25 | $348.2M | $3.6B | ||
| Q4 24 | $348.1M | $3.7B | ||
| Q3 24 | $348.0M | $3.6B | ||
| Q2 24 | $348.0M | $3.5B |
| Q1 26 | $100.8B | — | ||
| Q4 25 | $1.2B | $856.3M | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $1.0B | $1.2B |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $5.8B | ||
| Q3 25 | $2.2B | $6.1B | ||
| Q2 25 | $2.2B | $6.1B | ||
| Q1 25 | $2.0B | $6.0B | ||
| Q4 24 | $2.1B | $6.0B | ||
| Q3 24 | $2.0B | $6.0B | ||
| Q2 24 | $1.9B | $6.0B |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.29× | 4.15× | ||
| Q3 25 | 0.29× | 3.39× | ||
| Q2 25 | 0.31× | 3.55× | ||
| Q1 25 | 0.32× | 3.56× | ||
| Q4 24 | 0.32× | 3.62× | ||
| Q3 24 | 0.32× | 3.42× | ||
| Q2 24 | 0.34× | 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 | — | $149.7M |
| FCF MarginFCF / Revenue | — | 26.5% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $297.3M | $158.9M | ||
| Q3 25 | $103.1M | $191.2M | ||
| Q2 25 | $18.8M | $205.3M | ||
| Q1 25 | $14.3M | $206.6M | ||
| Q4 24 | $346.6M | $178.9M | ||
| Q3 24 | $117.1M | $-1.6M | ||
| Q2 24 | $88.7M | $175.6M |
| Q1 26 | — | — | ||
| Q4 25 | $294.6M | $149.7M | ||
| Q3 25 | $101.6M | $186.9M | ||
| Q2 25 | $18.0M | $199.0M | ||
| Q1 25 | $13.3M | $202.0M | ||
| Q4 24 | $342.5M | $176.6M | ||
| Q3 24 | $114.1M | $-4.9M | ||
| Q2 24 | $82.7M | $169.4M |
| Q1 26 | — | — | ||
| Q4 25 | 61.0% | 26.5% | ||
| Q3 25 | 21.6% | 33.0% | ||
| Q2 25 | 4.2% | 33.8% | ||
| Q1 25 | 3.1% | 36.1% | ||
| Q4 24 | 80.7% | 29.3% | ||
| Q3 24 | 27.9% | -0.8% | ||
| Q2 24 | 20.5% | 28.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 1.6% | ||
| Q3 25 | 0.3% | 0.7% | ||
| Q2 25 | 0.2% | 1.1% | ||
| Q1 25 | 0.2% | 0.8% | ||
| Q4 24 | 0.9% | 0.4% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | 1.5% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | — | ||
| Q3 25 | 0.99× | 4.41× | ||
| Q2 25 | 0.21× | 4.28× | ||
| Q1 25 | 0.14× | 4.80× | ||
| Q4 24 | 4.09× | 2.01× | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | 4.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHI
| Investment advisory fees, net | $319.4M | 67% |
| Administrative service fees, net-affiliates | $110.3M | 23% |
| Other | $49.3M | 10% |
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% |
