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Side-by-side financial comparison of Magnera Corp (MAGN) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $566.0M, roughly 1.4× WillScot Holdings Corp). Magnera Corp runs the higher net margin — -4.3% vs -33.1%, a 28.8% gap on every dollar of revenue. On growth, Magnera Corp posted the faster year-over-year revenue change (12.8% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-13.0M). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% CAGR vs -1.8%).
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.
MAGN vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $792.0M | $566.0M |
| Net Profit | $-34.0M | $-187.3M |
| Gross Margin | 12.2% | 50.4% |
| Operating Margin | 1.8% | -32.5% |
| Net Margin | -4.3% | -33.1% |
| Revenue YoY | 12.8% | -6.1% |
| Net Profit YoY | 43.3% | -310.0% |
| EPS (diluted) | $-0.95 | $-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 | $792.0M | $566.0M | ||
| Q3 25 | — | $566.8M | ||
| Q2 25 | $839.0M | $589.1M | ||
| Q1 25 | $824.0M | $559.6M | ||
| Q4 24 | $702.0M | $602.5M | ||
| Q3 24 | $332.1M | $601.4M | ||
| Q2 24 | $556.0M | $604.6M | ||
| Q1 24 | $558.0M | $587.2M |
| Q4 25 | $-34.0M | $-187.3M | ||
| Q3 25 | — | $43.3M | ||
| Q2 25 | $-18.0M | $47.9M | ||
| Q1 25 | $-41.0M | $43.1M | ||
| Q4 24 | $-60.0M | $89.2M | ||
| Q3 24 | $-15.2M | $-70.5M | ||
| Q2 24 | $19.0M | $-46.9M | ||
| Q1 24 | $14.0M | $56.2M |
| Q4 25 | 12.2% | 50.4% | ||
| Q3 25 | — | 49.7% | ||
| Q2 25 | 10.7% | 50.3% | ||
| Q1 25 | 10.7% | 53.7% | ||
| Q4 24 | 10.1% | 55.8% | ||
| Q3 24 | 10.7% | 53.5% | ||
| Q2 24 | 6.6% | 54.1% | ||
| Q1 24 | 6.2% | 54.0% |
| Q4 25 | 1.8% | -32.5% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | 1.5% | 21.5% | ||
| Q1 25 | 0.5% | 21.3% | ||
| Q4 24 | -3.1% | 28.9% | ||
| Q3 24 | 0.9% | -5.9% | ||
| Q2 24 | 3.1% | -0.9% | ||
| Q1 24 | 3.8% | 22.1% |
| Q4 25 | -4.3% | -33.1% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | -2.1% | 8.1% | ||
| Q1 25 | -5.0% | 7.7% | ||
| Q4 24 | -8.5% | 14.8% | ||
| Q3 24 | -4.6% | -11.7% | ||
| Q2 24 | 3.4% | -7.7% | ||
| Q1 24 | 2.5% | 9.6% |
| Q4 25 | $-0.95 | $-1.02 | ||
| Q3 25 | — | $0.24 | ||
| Q2 25 | $-0.51 | $0.26 | ||
| Q1 25 | $-1.15 | $0.23 | ||
| Q4 24 | $-1.69 | $0.48 | ||
| Q3 24 | $-0.33 | $-0.37 | ||
| Q2 24 | $0.60 | $-0.25 | ||
| Q1 24 | $0.44 | $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 | $264.0M | $14.6M |
| Total DebtLower is stronger | $1.9B | $3.6B |
| Stockholders' EquityBook value | $1.0B | $856.3M |
| Total Assets | $3.9B | $5.8B |
| Debt / EquityLower = less leverage | 1.86× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $264.0M | $14.6M | ||
| Q3 25 | — | $14.8M | ||
| Q2 25 | $276.0M | $12.8M | ||
| Q1 25 | $282.0M | $10.7M | ||
| Q4 24 | $215.0M | $9.0M | ||
| Q3 24 | $230.0M | $11.0M | ||
| Q2 24 | $33.9M | $5.9M | ||
| Q1 24 | $30.2M | $13.1M |
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | $2.0B | $3.7B | ||
| Q1 25 | $2.0B | $3.6B | ||
| Q4 24 | $2.0B | $3.7B | ||
| Q3 24 | $2.0B | $3.6B | ||
| Q2 24 | $877.4M | $3.5B | ||
| Q1 24 | $884.7M | $3.5B |
| Q4 25 | $1.0B | $856.3M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.4B | $1.2B | ||
| Q1 24 | $2.4B | $1.3B |
| Q4 25 | $3.9B | $5.8B | ||
| Q3 25 | — | $6.1B | ||
| Q2 25 | $4.1B | $6.1B | ||
| Q1 25 | $4.1B | $6.0B | ||
| Q4 24 | $4.0B | $6.0B | ||
| Q3 24 | $2.8B | $6.0B | ||
| Q2 24 | $1.5B | $6.0B | ||
| Q1 24 | $1.5B | $6.2B |
| Q4 25 | 1.86× | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | 1.77× | 3.55× | ||
| Q1 25 | 1.83× | 3.56× | ||
| Q4 24 | 1.80× | 3.62× | ||
| Q3 24 | 0.91× | 3.42× | ||
| Q2 24 | 0.37× | 2.88× | ||
| Q1 24 | 0.36× | 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 | $2.0M | $158.9M |
| Free Cash FlowOCF − Capex | $-13.0M | $149.7M |
| FCF MarginFCF / Revenue | -1.6% | 26.5% |
| Capex IntensityCapex / Revenue | 1.9% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0M | $158.9M | ||
| Q3 25 | — | $191.2M | ||
| Q2 25 | $0 | $205.3M | ||
| Q1 25 | $65.0M | $206.6M | ||
| Q4 24 | $-58.0M | $178.9M | ||
| Q3 24 | $12.2M | $-1.6M | ||
| Q2 24 | $38.0M | $175.6M | ||
| Q1 24 | $20.0M | $208.7M |
| Q4 25 | $-13.0M | $149.7M | ||
| Q3 25 | — | $186.9M | ||
| Q2 25 | — | $199.0M | ||
| Q1 25 | $42.0M | $202.0M | ||
| Q4 24 | $-74.0M | $176.6M | ||
| Q3 24 | $3.6M | $-4.9M | ||
| Q2 24 | $23.0M | $169.4M | ||
| Q1 24 | $12.5M | $202.1M |
| Q4 25 | -1.6% | 26.5% | ||
| Q3 25 | — | 33.0% | ||
| Q2 25 | — | 33.8% | ||
| Q1 25 | 5.1% | 36.1% | ||
| Q4 24 | -10.5% | 29.3% | ||
| Q3 24 | 1.1% | -0.8% | ||
| Q2 24 | 4.1% | 28.0% | ||
| Q1 24 | 2.2% | 34.4% |
| Q4 25 | 1.9% | 1.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | 1.5% | 1.1% | ||
| Q1 25 | 2.8% | 0.8% | ||
| Q4 24 | 2.3% | 0.4% | ||
| Q3 24 | 2.6% | 0.6% | ||
| Q2 24 | 2.7% | 1.0% | ||
| Q1 24 | 1.3% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | — | ||
| Q1 24 | 1.43× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
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% |
