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Side-by-side financial comparison of Shake Shack Inc. (SHAK) 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 $400.5M, roughly 1.4× Shake Shack Inc.). Shake Shack Inc. runs the higher net margin — 3.0% vs -33.1%, a 36.1% gap on every dollar of revenue. On growth, Shake Shack Inc. posted the faster year-over-year revenue change (21.9% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $4.0M). Over the past eight quarters, Shake Shack Inc.'s revenue compounded faster (17.4% CAGR vs -1.8%).
Shake Shack is an American multinational fast casual restaurant chain based in New York City. It started out as a hot dog cart inside Madison Square Park in 2001, and its popularity steadily grew. In 2004, it received a permit to open a permanent kiosk within the park, expanding its menu from New York–style hot dogs to one with hamburgers, hot dogs, fries and its namesake milkshakes.
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.
SHAK vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $400.5M | $566.0M |
| Net Profit | $11.8M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | 4.7% | -32.5% |
| Net Margin | 3.0% | -33.1% |
| Revenue YoY | 21.9% | -6.1% |
| Net Profit YoY | 35.8% | -310.0% |
| EPS (diluted) | $0.28 | $-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 | $400.5M | $566.0M | ||
| Q3 25 | $367.4M | $566.8M | ||
| Q2 25 | $356.5M | $589.1M | ||
| Q1 25 | $320.9M | $559.6M | ||
| Q4 24 | $328.7M | $602.5M | ||
| Q3 24 | $316.9M | $601.4M | ||
| Q2 24 | $316.5M | $604.6M | ||
| Q1 24 | $290.5M | $587.2M |
| Q4 25 | $11.8M | $-187.3M | ||
| Q3 25 | $12.5M | $43.3M | ||
| Q2 25 | $17.1M | $47.9M | ||
| Q1 25 | $4.2M | $43.1M | ||
| Q4 24 | $8.7M | $89.2M | ||
| Q3 24 | $-10.2M | $-70.5M | ||
| Q2 24 | $9.7M | $-46.9M | ||
| Q1 24 | $2.0M | $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 | 4.7% | -32.5% | ||
| Q3 25 | 5.0% | 21.0% | ||
| Q2 25 | 6.3% | 21.5% | ||
| Q1 25 | 0.9% | 21.3% | ||
| Q4 24 | 3.1% | 28.9% | ||
| Q3 24 | -5.7% | -5.9% | ||
| Q2 24 | 3.4% | -0.9% | ||
| Q1 24 | 0.0% | 22.1% |
| Q4 25 | 3.0% | -33.1% | ||
| Q3 25 | 3.4% | 7.6% | ||
| Q2 25 | 4.8% | 8.1% | ||
| Q1 25 | 1.3% | 7.7% | ||
| Q4 24 | 2.6% | 14.8% | ||
| Q3 24 | -3.2% | -11.7% | ||
| Q2 24 | 3.1% | -7.7% | ||
| Q1 24 | 0.7% | 9.6% |
| Q4 25 | $0.28 | $-1.02 | ||
| Q3 25 | $0.30 | $0.24 | ||
| Q2 25 | $0.41 | $0.26 | ||
| Q1 25 | $0.10 | $0.23 | ||
| Q4 24 | $0.22 | $0.48 | ||
| Q3 24 | $-0.26 | $-0.37 | ||
| Q2 24 | $0.23 | $-0.25 | ||
| Q1 24 | $0.05 | $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 | $360.1M | $14.6M |
| Total DebtLower is stronger | $247.7M | $3.6B |
| Stockholders' EquityBook value | $525.3M | $856.3M |
| Total Assets | $1.9B | $5.8B |
| Debt / EquityLower = less leverage | 0.47× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $360.1M | $14.6M | ||
| Q3 25 | $357.8M | $14.8M | ||
| Q2 25 | $336.8M | $12.8M | ||
| Q1 25 | $312.9M | $10.7M | ||
| Q4 24 | $320.7M | $9.0M | ||
| Q3 24 | $310.9M | $11.0M | ||
| Q2 24 | $304.4M | $5.9M | ||
| Q1 24 | $284.8M | $13.1M |
| Q4 25 | $247.7M | $3.6B | ||
| Q3 25 | $247.5M | $3.6B | ||
| Q2 25 | $247.2M | $3.7B | ||
| Q1 25 | $246.9M | $3.6B | ||
| Q4 24 | $246.7M | $3.7B | ||
| Q3 24 | $246.4M | $3.6B | ||
| Q2 24 | $246.2M | $3.5B | ||
| Q1 24 | $245.9M | $3.5B |
| Q4 25 | $525.3M | $856.3M | ||
| Q3 25 | $509.0M | $1.1B | ||
| Q2 25 | $494.1M | $1.0B | ||
| Q1 25 | $473.3M | $1.0B | ||
| Q4 24 | $470.0M | $1.0B | ||
| Q3 24 | $456.1M | $1.1B | ||
| Q2 24 | $462.4M | $1.2B | ||
| Q1 24 | $446.4M | $1.3B |
| Q4 25 | $1.9B | $5.8B | ||
| Q3 25 | $1.8B | $6.1B | ||
| Q2 25 | $1.8B | $6.1B | ||
| Q1 25 | $1.7B | $6.0B | ||
| Q4 24 | $1.7B | $6.0B | ||
| Q3 24 | $1.7B | $6.0B | ||
| Q2 24 | $1.7B | $6.0B | ||
| Q1 24 | $1.6B | $6.2B |
| Q4 25 | 0.47× | 4.15× | ||
| Q3 25 | 0.49× | 3.39× | ||
| Q2 25 | 0.50× | 3.55× | ||
| Q1 25 | 0.52× | 3.56× | ||
| Q4 24 | 0.52× | 3.62× | ||
| Q3 24 | 0.54× | 3.42× | ||
| Q2 24 | 0.53× | 2.88× | ||
| Q1 24 | 0.55× | 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 | $63.1M | $158.9M |
| Free Cash FlowOCF − Capex | $4.0M | $149.7M |
| FCF MarginFCF / Revenue | 1.0% | 26.5% |
| Capex IntensityCapex / Revenue | 14.8% | 1.6% |
| Cash ConversionOCF / Net Profit | 5.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $56.5M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | $158.9M | ||
| Q3 25 | $63.0M | $191.2M | ||
| Q2 25 | $65.0M | $205.3M | ||
| Q1 25 | $31.2M | $206.6M | ||
| Q4 24 | $45.1M | $178.9M | ||
| Q3 24 | $41.9M | $-1.6M | ||
| Q2 24 | $53.5M | $175.6M | ||
| Q1 24 | $30.7M | $208.7M |
| Q4 25 | $4.0M | $149.7M | ||
| Q3 25 | $23.7M | $186.9M | ||
| Q2 25 | $26.9M | $199.0M | ||
| Q1 25 | $1.9M | $202.0M | ||
| Q4 24 | $10.4M | $176.6M | ||
| Q3 24 | $7.1M | $-4.9M | ||
| Q2 24 | $20.6M | $169.4M | ||
| Q1 24 | $-2.4M | $202.1M |
| Q4 25 | 1.0% | 26.5% | ||
| Q3 25 | 6.5% | 33.0% | ||
| Q2 25 | 7.5% | 33.8% | ||
| Q1 25 | 0.6% | 36.1% | ||
| Q4 24 | 3.2% | 29.3% | ||
| Q3 24 | 2.2% | -0.8% | ||
| Q2 24 | 6.5% | 28.0% | ||
| Q1 24 | -0.8% | 34.4% |
| Q4 25 | 14.8% | 1.6% | ||
| Q3 25 | 10.7% | 0.7% | ||
| Q2 25 | 10.7% | 1.1% | ||
| Q1 25 | 9.1% | 0.8% | ||
| Q4 24 | 10.6% | 0.4% | ||
| Q3 24 | 11.0% | 0.6% | ||
| Q2 24 | 10.4% | 1.0% | ||
| Q1 24 | 11.4% | 1.1% |
| Q4 25 | 5.34× | — | ||
| Q3 25 | 5.04× | 4.41× | ||
| Q2 25 | 3.79× | 4.28× | ||
| Q1 25 | 7.36× | 4.80× | ||
| Q4 24 | 5.18× | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.54× | — | ||
| Q1 24 | 15.03× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SHAK
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% |
