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Side-by-side financial comparison of New Fortress Energy Inc. (NFE) 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 $326.2M, roughly 1.7× New Fortress Energy Inc.). WillScot Holdings Corp runs the higher net margin — -33.1% vs -259.7%, a 226.6% gap on every dollar of revenue. On growth, WillScot Holdings Corp posted the faster year-over-year revenue change (-6.1% vs -7.0%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-134.8M). Over the past eight quarters, WillScot Holdings Corp's revenue compounded faster (-1.8% CAGR vs -26.8%).
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
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.
NFE vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $326.2M | $566.0M |
| Net Profit | $-847.1M | $-187.3M |
| Gross Margin | 35.5% | 50.4% |
| Operating Margin | -193.0% | -32.5% |
| Net Margin | -259.7% | -33.1% |
| Revenue YoY | -7.0% | -6.1% |
| Net Profit YoY | -277.4% | -310.0% |
| EPS (diluted) | $-3.03 | $-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 | $326.2M | $566.0M | ||
| Q3 25 | $240.3M | $566.8M | ||
| Q2 25 | $228.1M | $589.1M | ||
| Q1 25 | $384.9M | $559.6M | ||
| Q4 24 | $350.7M | $602.5M | ||
| Q3 24 | $446.0M | $601.4M | ||
| Q2 24 | $291.2M | $604.6M | ||
| Q1 24 | $609.5M | $587.2M |
| Q4 25 | $-847.1M | $-187.3M | ||
| Q3 25 | $-263.0M | $43.3M | ||
| Q2 25 | $-546.5M | $47.9M | ||
| Q1 25 | $-175.4M | $43.1M | ||
| Q4 24 | $-224.4M | $89.2M | ||
| Q3 24 | $9.3M | $-70.5M | ||
| Q2 24 | $-88.9M | $-46.9M | ||
| Q1 24 | $54.1M | $56.2M |
| Q4 25 | 35.5% | 50.4% | ||
| Q3 25 | 18.1% | 49.7% | ||
| Q2 25 | 8.4% | 50.3% | ||
| Q1 25 | 21.4% | 53.7% | ||
| Q4 24 | 17.6% | 55.8% | ||
| Q3 24 | 27.1% | 53.5% | ||
| Q2 24 | 23.8% | 54.1% | ||
| Q1 24 | 62.4% | 54.0% |
| Q4 25 | -193.0% | -32.5% | ||
| Q3 25 | -37.4% | 21.0% | ||
| Q2 25 | -170.3% | 21.5% | ||
| Q1 25 | -3.3% | 21.3% | ||
| Q4 24 | 65.0% | 28.9% | ||
| Q3 24 | 17.8% | -5.9% | ||
| Q2 24 | 12.3% | -0.9% | ||
| Q1 24 | 30.4% | 22.1% |
| Q4 25 | -259.7% | -33.1% | ||
| Q3 25 | -109.4% | 7.6% | ||
| Q2 25 | -239.6% | 8.1% | ||
| Q1 25 | -45.6% | 7.7% | ||
| Q4 24 | -64.0% | 14.8% | ||
| Q3 24 | 2.1% | -11.7% | ||
| Q2 24 | -30.5% | -7.7% | ||
| Q1 24 | 8.9% | 9.6% |
| Q4 25 | $-3.03 | $-1.02 | ||
| Q3 25 | $-0.96 | $0.24 | ||
| Q2 25 | $-1.99 | $0.26 | ||
| Q1 25 | $-0.65 | $0.23 | ||
| Q4 24 | $-1.10 | $0.48 | ||
| Q3 24 | $0.03 | $-0.37 | ||
| Q2 24 | $-0.42 | $-0.25 | ||
| Q1 24 | $0.23 | $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 | $226.5M | $14.6M |
| Total DebtLower is stronger | $8.2B | $3.6B |
| Stockholders' EquityBook value | $182.6M | $856.3M |
| Total Assets | $10.6B | $5.8B |
| Debt / EquityLower = less leverage | 44.78× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.5M | $14.6M | ||
| Q3 25 | $145.2M | $14.8M | ||
| Q2 25 | $551.1M | $12.8M | ||
| Q1 25 | $447.9M | $10.7M | ||
| Q4 24 | $492.9M | $9.0M | ||
| Q3 24 | $90.8M | $11.0M | ||
| Q2 24 | $133.0M | $5.9M | ||
| Q1 24 | $143.5M | $13.1M |
| Q4 25 | $8.2B | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | $8.9B | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $182.6M | $856.3M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $1.8B | $1.0B | ||
| Q4 24 | $1.9B | $1.0B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.6B | $1.2B | ||
| Q1 24 | $1.7B | $1.3B |
| Q4 25 | $10.6B | $5.8B | ||
| Q3 25 | $12.0B | $6.1B | ||
| Q2 25 | $12.0B | $6.1B | ||
| Q1 25 | $13.1B | $6.0B | ||
| Q4 24 | $12.9B | $6.0B | ||
| Q3 24 | $12.0B | $6.0B | ||
| Q2 24 | $11.4B | $6.0B | ||
| Q1 24 | $10.9B | $6.2B |
| Q4 25 | 44.78× | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | 4.74× | 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 | $-76.2M | $158.9M |
| Free Cash FlowOCF − Capex | $-134.8M | $149.7M |
| FCF MarginFCF / Revenue | -41.3% | 26.5% |
| Capex IntensityCapex / Revenue | 18.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.2M | $158.9M | ||
| Q3 25 | $-171.0M | $191.2M | ||
| Q2 25 | $-329.0M | $205.3M | ||
| Q1 25 | $-7.2M | $206.6M | ||
| Q4 24 | $445.3M | $178.9M | ||
| Q3 24 | $-20.0M | $-1.6M | ||
| Q2 24 | $113.9M | $175.6M | ||
| Q1 24 | $63.0M | $208.7M |
| Q4 25 | $-134.8M | $149.7M | ||
| Q3 25 | $-231.6M | $186.9M | ||
| Q2 25 | $-726.7M | $199.0M | ||
| Q1 25 | $-262.3M | $202.0M | ||
| Q4 24 | $-210.3M | $176.6M | ||
| Q3 24 | $-367.0M | $-4.9M | ||
| Q2 24 | $-493.2M | $169.4M | ||
| Q1 24 | $-457.9M | $202.1M |
| Q4 25 | -41.3% | 26.5% | ||
| Q3 25 | -96.4% | 33.0% | ||
| Q2 25 | -318.6% | 33.8% | ||
| Q1 25 | -68.2% | 36.1% | ||
| Q4 24 | -60.0% | 29.3% | ||
| Q3 24 | -82.3% | -0.8% | ||
| Q2 24 | -169.3% | 28.0% | ||
| Q1 24 | -75.1% | 34.4% |
| Q4 25 | 18.0% | 1.6% | ||
| Q3 25 | 25.2% | 0.7% | ||
| Q2 25 | 174.4% | 1.1% | ||
| Q1 25 | 66.3% | 0.8% | ||
| Q4 24 | 187.0% | 0.4% | ||
| Q3 24 | 77.8% | 0.6% | ||
| Q2 24 | 208.4% | 1.0% | ||
| Q1 24 | 85.5% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | -2.15× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.16× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFE
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% |
