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Side-by-side financial comparison of Monolithic Power Systems (MPWR) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
Monolithic Power Systems is the larger business by last-quarter revenue ($804.2M vs $566.0M, roughly 1.4× WillScot Holdings Corp). Monolithic Power Systems runs the higher net margin — 24.0% vs -33.1%, a 57.1% gap on every dollar of revenue. On growth, Monolithic Power Systems posted the faster year-over-year revenue change (26.1% vs -6.1%). Over the past eight quarters, Monolithic Power Systems's revenue compounded faster (25.9% CAGR vs -1.8%).
Monolithic Power Systems, Inc. is an American, publicly traded company headquartered in Kirkland, Washington. It operates in more than 15 locations worldwide.
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.
MPWR vs WSC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $804.2M | $566.0M |
| Net Profit | $193.2M | $-187.3M |
| Gross Margin | 55.3% | 50.4% |
| Operating Margin | 30.0% | -32.5% |
| Net Margin | 24.0% | -33.1% |
| Revenue YoY | 26.1% | -6.1% |
| Net Profit YoY | 43.1% | -310.0% |
| EPS (diluted) | $3.92 | $-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 | $804.2M | — | ||
| Q4 25 | $751.2M | $566.0M | ||
| Q3 25 | $737.2M | $566.8M | ||
| Q2 25 | $664.6M | $589.1M | ||
| Q1 25 | $637.6M | $559.6M | ||
| Q4 24 | $621.7M | $602.5M | ||
| Q3 24 | $620.1M | $601.4M | ||
| Q2 24 | $507.4M | $604.6M |
| Q1 26 | $193.2M | — | ||
| Q4 25 | $171.7M | $-187.3M | ||
| Q3 25 | $179.8M | $43.3M | ||
| Q2 25 | $135.0M | $47.9M | ||
| Q1 25 | $135.1M | $43.1M | ||
| Q4 24 | $1.3B | $89.2M | ||
| Q3 24 | $144.4M | $-70.5M | ||
| Q2 24 | $100.4M | $-46.9M |
| Q1 26 | 55.3% | — | ||
| Q4 25 | 55.2% | 50.4% | ||
| Q3 25 | 55.1% | 49.7% | ||
| Q2 25 | 55.1% | 50.3% | ||
| Q1 25 | 55.4% | 53.7% | ||
| Q4 24 | 55.4% | 55.8% | ||
| Q3 24 | 55.4% | 53.5% | ||
| Q2 24 | 55.3% | 54.1% |
| Q1 26 | 30.0% | — | ||
| Q4 25 | 26.6% | -32.5% | ||
| Q3 25 | 26.5% | 21.0% | ||
| Q2 25 | 24.8% | 21.5% | ||
| Q1 25 | 26.5% | 21.3% | ||
| Q4 24 | 26.3% | 28.9% | ||
| Q3 24 | 26.5% | -5.9% | ||
| Q2 24 | 23.0% | -0.9% |
| Q1 26 | 24.0% | — | ||
| Q4 25 | 22.9% | -33.1% | ||
| Q3 25 | 24.4% | 7.6% | ||
| Q2 25 | 20.3% | 8.1% | ||
| Q1 25 | 21.2% | 7.7% | ||
| Q4 24 | 201.8% | 14.8% | ||
| Q3 24 | 23.3% | -11.7% | ||
| Q2 24 | 19.8% | -7.7% |
| Q1 26 | $3.92 | — | ||
| Q4 25 | $3.50 | $-1.02 | ||
| Q3 25 | $3.74 | $0.24 | ||
| Q2 25 | $2.81 | $0.26 | ||
| Q1 25 | $2.81 | $0.23 | ||
| Q4 24 | $25.71 | $0.48 | ||
| Q3 24 | $2.95 | $-0.37 | ||
| Q2 24 | $2.05 | $-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 | $1.4B | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $3.7B | $856.3M |
| Total Assets | $4.4B | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.3B | $14.6M | ||
| Q3 25 | $1.3B | $14.8M | ||
| Q2 25 | $1.1B | $12.8M | ||
| Q1 25 | $1.0B | $10.7M | ||
| Q4 24 | $862.9M | $9.0M | ||
| Q3 24 | $1.5B | $11.0M | ||
| Q2 24 | $1.3B | $5.9M |
| Q1 26 | — | — | ||
| 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 | $3.7B | — | ||
| Q4 25 | $3.5B | $856.3M | ||
| Q3 25 | $3.4B | $1.1B | ||
| Q2 25 | $3.2B | $1.0B | ||
| Q1 25 | $3.1B | $1.0B | ||
| Q4 24 | $3.0B | $1.0B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.2B | $1.2B |
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.2B | $5.8B | ||
| Q3 25 | $4.1B | $6.1B | ||
| Q2 25 | $3.9B | $6.1B | ||
| Q1 25 | $3.7B | $6.0B | ||
| Q4 24 | $3.5B | $6.0B | ||
| Q3 24 | $2.9B | $6.0B | ||
| Q2 24 | $2.6B | $6.0B |
| Q1 26 | — | — | ||
| 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 | — | $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 | $104.9M | $158.9M | ||
| Q3 25 | $239.3M | $191.2M | ||
| Q2 25 | $237.6M | $205.3M | ||
| Q1 25 | $256.4M | $206.6M | ||
| Q4 24 | $167.7M | $178.9M | ||
| Q3 24 | $231.7M | $-1.6M | ||
| Q2 24 | $141.0M | $175.6M |
| Q1 26 | — | — | ||
| Q4 25 | $63.9M | $149.7M | ||
| Q3 25 | $196.8M | $186.9M | ||
| Q2 25 | $189.5M | $199.0M | ||
| Q1 25 | $216.0M | $202.0M | ||
| Q4 24 | $102.9M | $176.6M | ||
| Q3 24 | $197.9M | $-4.9M | ||
| Q2 24 | $109.5M | $169.4M |
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | 26.5% | ||
| Q3 25 | 26.7% | 33.0% | ||
| Q2 25 | 28.5% | 33.8% | ||
| Q1 25 | 33.9% | 36.1% | ||
| Q4 24 | 16.5% | 29.3% | ||
| Q3 24 | 31.9% | -0.8% | ||
| Q2 24 | 21.6% | 28.0% |
| Q1 26 | — | — | ||
| Q4 25 | 5.5% | 1.6% | ||
| Q3 25 | 5.8% | 0.7% | ||
| Q2 25 | 7.2% | 1.1% | ||
| Q1 25 | 6.3% | 0.8% | ||
| Q4 24 | 10.4% | 0.4% | ||
| Q3 24 | 5.5% | 0.6% | ||
| Q2 24 | 6.2% | 1.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | — | ||
| Q3 25 | 1.33× | 4.41× | ||
| Q2 25 | 1.76× | 4.28× | ||
| Q1 25 | 1.90× | 4.80× | ||
| Q4 24 | 0.13× | 2.01× | ||
| Q3 24 | 1.60× | — | ||
| Q2 24 | 1.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPWR
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% |
