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Side-by-side financial comparison of Pinnacle West Capital (PNW) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
Pinnacle West Capital is the larger business by last-quarter revenue ($1.1B vs $566.0M, roughly 2.0× WillScot Holdings Corp). Pinnacle West Capital runs the higher net margin — 1.6% vs -33.1%, a 34.7% gap on every dollar of revenue. On growth, Pinnacle West Capital posted the faster year-over-year revenue change (3.0% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-192.7M). Over the past eight quarters, Pinnacle West Capital's revenue compounded faster (8.9% CAGR vs -1.8%).
Pinnacle West Capital Corporation is an American utility holding company that owns Arizona Public Service (APS). It is publicly traded on the New York Stock exchange and a component of the S&P 500 stock market index. APS is the largest utility company in Arizona and is regulated by the Arizona Corporation Commission (ACC).
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.
PNW vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $566.0M |
| Net Profit | $17.6M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 10.7% | -32.5% |
| Net Margin | 1.6% | -33.1% |
| Revenue YoY | 3.0% | -6.1% |
| Net Profit YoY | 798.0% | -310.0% |
| EPS (diluted) | $0.12 | $-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 | $1.1B | $566.0M | ||
| Q3 25 | $1.8B | $566.8M | ||
| Q2 25 | $1.4B | $589.1M | ||
| Q1 25 | $1.0B | $559.6M | ||
| Q4 24 | $1.1B | $602.5M | ||
| Q3 24 | $1.8B | $601.4M | ||
| Q2 24 | $1.3B | $604.6M | ||
| Q1 24 | $951.7M | $587.2M |
| Q4 25 | $17.6M | $-187.3M | ||
| Q3 25 | $417.5M | $43.3M | ||
| Q2 25 | $196.9M | $47.9M | ||
| Q1 25 | $-338.0K | $43.1M | ||
| Q4 24 | $-2.5M | $89.2M | ||
| Q3 24 | $399.3M | $-70.5M | ||
| Q2 24 | $208.1M | $-46.9M | ||
| Q1 24 | $21.2M | $56.2M |
| 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 24 | — | 54.0% |
| Q4 25 | 10.7% | -32.5% | ||
| Q3 25 | 32.0% | 21.0% | ||
| Q2 25 | 22.6% | 21.5% | ||
| Q1 25 | 5.5% | 21.3% | ||
| Q4 24 | 7.7% | 28.9% | ||
| Q3 24 | 30.9% | -5.9% | ||
| Q2 24 | 24.0% | -0.9% | ||
| Q1 24 | 7.0% | 22.1% |
| Q4 25 | 1.6% | -33.1% | ||
| Q3 25 | 22.9% | 7.6% | ||
| Q2 25 | 14.5% | 8.1% | ||
| Q1 25 | -0.0% | 7.7% | ||
| Q4 24 | -0.2% | 14.8% | ||
| Q3 24 | 22.6% | -11.7% | ||
| Q2 24 | 15.9% | -7.7% | ||
| Q1 24 | 2.2% | 9.6% |
| Q4 25 | $0.12 | $-1.02 | ||
| Q3 25 | $3.39 | $0.24 | ||
| Q2 25 | $1.58 | $0.26 | ||
| Q1 25 | $-0.04 | $0.23 | ||
| Q4 24 | $-0.04 | $0.48 | ||
| Q3 24 | $3.37 | $-0.37 | ||
| Q2 24 | $1.76 | $-0.25 | ||
| Q1 24 | $0.15 | $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 | $6.6M | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $7.0B | $856.3M |
| Total Assets | $30.0B | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.6M | $14.6M | ||
| Q3 25 | $30.9M | $14.8M | ||
| Q2 25 | $18.8M | $12.8M | ||
| Q1 25 | $10.0M | $10.7M | ||
| Q4 24 | $3.8M | $9.0M | ||
| Q3 24 | $49.2M | $11.0M | ||
| Q2 24 | $4.0M | $5.9M | ||
| Q1 24 | $9.6M | $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 | $7.0B | $856.3M | ||
| Q3 25 | $7.2B | $1.1B | ||
| Q2 25 | $6.7B | $1.0B | ||
| Q1 25 | $6.7B | $1.0B | ||
| Q4 24 | $6.8B | $1.0B | ||
| Q3 24 | $6.6B | $1.1B | ||
| Q2 24 | $6.2B | $1.2B | ||
| Q1 24 | $6.2B | $1.3B |
| Q4 25 | $30.0B | $5.8B | ||
| Q3 25 | $29.9B | $6.1B | ||
| Q2 25 | $29.2B | $6.1B | ||
| Q1 25 | $27.2B | $6.0B | ||
| Q4 24 | $26.1B | $6.0B | ||
| Q3 24 | $26.3B | $6.0B | ||
| Q2 24 | $25.7B | $6.0B | ||
| Q1 24 | $24.8B | $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 | $476.8M | $158.9M |
| Free Cash FlowOCF − Capex | $-192.7M | $149.7M |
| FCF MarginFCF / Revenue | -17.1% | 26.5% |
| Capex IntensityCapex / Revenue | 59.3% | 1.6% |
| Cash ConversionOCF / Net Profit | 27.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-819.5M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $476.8M | $158.9M | ||
| Q3 25 | $665.0M | $191.2M | ||
| Q2 25 | $261.4M | $205.3M | ||
| Q1 25 | $401.9M | $206.6M | ||
| Q4 24 | $439.5M | $178.9M | ||
| Q3 24 | $633.2M | $-1.6M | ||
| Q2 24 | $189.8M | $175.6M | ||
| Q1 24 | $347.4M | $208.7M |
| Q4 25 | $-192.7M | $149.7M | ||
| Q3 25 | $42.0M | $186.9M | ||
| Q2 25 | $-448.1M | $199.0M | ||
| Q1 25 | $-220.7M | $202.0M | ||
| Q4 24 | $-92.1M | $176.6M | ||
| Q3 24 | $-32.7M | $-4.9M | ||
| Q2 24 | $-344.2M | $169.4M | ||
| Q1 24 | $-170.4M | $202.1M |
| Q4 25 | -17.1% | 26.5% | ||
| Q3 25 | 2.3% | 33.0% | ||
| Q2 25 | -33.0% | 33.8% | ||
| Q1 25 | -21.4% | 36.1% | ||
| Q4 24 | -8.4% | 29.3% | ||
| Q3 24 | -1.8% | -0.8% | ||
| Q2 24 | -26.3% | 28.0% | ||
| Q1 24 | -17.9% | 34.4% |
| Q4 25 | 59.3% | 1.6% | ||
| Q3 25 | 34.2% | 0.7% | ||
| Q2 25 | 52.2% | 1.1% | ||
| Q1 25 | 60.3% | 0.8% | ||
| Q4 24 | 48.5% | 0.4% | ||
| Q3 24 | 37.6% | 0.6% | ||
| Q2 24 | 40.8% | 1.0% | ||
| Q1 24 | 54.4% | 1.1% |
| Q4 25 | 27.09× | — | ||
| Q3 25 | 1.59× | 4.41× | ||
| Q2 25 | 1.33× | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 0.91× | — | ||
| Q1 24 | 16.41× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PNW
| Electricand Transmission Service | $1.1B | 100% |
| Other Services | $4.4M | 0% |
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% |
