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Side-by-side financial comparison of Service Properties Trust (SVC) 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 $296.5M, roughly 1.9× Service Properties Trust). Service Properties Trust runs the higher net margin — -0.3% vs -33.1%, a 32.8% gap on every dollar of revenue. On growth, WillScot Holdings Corp posted the faster year-over-year revenue change (-6.1% vs -17.0%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-95.2M). Over the past eight quarters, WillScot Holdings Corp's revenue compounded faster (-1.8% CAGR vs -6.1%).
Medical Properties Trust, Inc. (MPT) is an international real estate investment trust (REIT) based in Birmingham, Alabama that purchases and invests in healthcare facilities and for-profit healthcare holding companies, primarily in the United States and Europe. Their property acquisitions often come in the form of sale-leaseback agreements, in which the original property owner sells the property to MPT and becomes their tenant. MPT's tenants are generally subject to long-term triple net lease...
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.
SVC vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $296.5M | $566.0M |
| Net Profit | $-782.0K | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | -3.9% | -32.5% |
| Net Margin | -0.3% | -33.1% |
| Revenue YoY | -17.0% | -6.1% |
| Net Profit YoY | 99.0% | -310.0% |
| EPS (diluted) | $-0.01 | $-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 | $296.5M | $566.0M | ||
| Q3 25 | $377.6M | $566.8M | ||
| Q2 25 | $404.4M | $589.1M | ||
| Q1 25 | $335.0M | $559.6M | ||
| Q4 24 | $357.0M | $602.5M | ||
| Q3 24 | $390.9M | $601.4M | ||
| Q2 24 | $412.5M | $604.6M | ||
| Q1 24 | $336.2M | $587.2M |
| Q4 25 | $-782.0K | $-187.3M | ||
| Q3 25 | $-46.9M | $43.3M | ||
| Q2 25 | $-38.2M | $47.9M | ||
| Q1 25 | $-116.4M | $43.1M | ||
| Q4 24 | $-76.4M | $89.2M | ||
| Q3 24 | $-46.9M | $-70.5M | ||
| Q2 24 | $-73.8M | $-46.9M | ||
| Q1 24 | $-78.4M | $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 | -3.9% | -32.5% | ||
| Q3 25 | -12.8% | 21.0% | ||
| Q2 25 | -9.2% | 21.5% | ||
| Q1 25 | -33.3% | 21.3% | ||
| Q4 24 | -19.4% | 28.9% | ||
| Q3 24 | -12.8% | -5.9% | ||
| Q2 24 | -17.1% | -0.9% | ||
| Q1 24 | -21.4% | 22.1% |
| Q4 25 | -0.3% | -33.1% | ||
| Q3 25 | -12.4% | 7.6% | ||
| Q2 25 | -9.4% | 8.1% | ||
| Q1 25 | -34.8% | 7.7% | ||
| Q4 24 | -21.4% | 14.8% | ||
| Q3 24 | -12.0% | -11.7% | ||
| Q2 24 | -17.9% | -7.7% | ||
| Q1 24 | -23.3% | 9.6% |
| Q4 25 | $-0.01 | $-1.02 | ||
| Q3 25 | $-0.28 | $0.24 | ||
| Q2 25 | $-0.23 | $0.26 | ||
| Q1 25 | $-0.70 | $0.23 | ||
| Q4 24 | $-0.46 | $0.48 | ||
| Q3 24 | $-0.28 | $-0.37 | ||
| Q2 24 | $-0.45 | $-0.25 | ||
| Q1 24 | $-0.48 | $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 | $346.8M | $14.6M |
| Total DebtLower is stronger | $5.5B | $3.6B |
| Stockholders' EquityBook value | $646.1M | $856.3M |
| Total Assets | $6.5B | $5.8B |
| Debt / EquityLower = less leverage | 8.52× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $346.8M | $14.6M | ||
| Q3 25 | $417.4M | $14.8M | ||
| Q2 25 | $63.2M | $12.8M | ||
| Q1 25 | $80.1M | $10.7M | ||
| Q4 24 | $143.5M | $9.0M | ||
| Q3 24 | $48.6M | $11.0M | ||
| Q2 24 | $14.6M | $5.9M | ||
| Q1 24 | $71.3M | $13.1M |
| Q4 25 | $5.5B | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | $5.8B | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $646.1M | $856.3M | ||
| Q3 25 | $647.9M | $1.1B | ||
| Q2 25 | $695.9M | $1.0B | ||
| Q1 25 | $734.6M | $1.0B | ||
| Q4 24 | $851.9M | $1.0B | ||
| Q3 24 | $929.0M | $1.1B | ||
| Q2 24 | $1.0B | $1.2B | ||
| Q1 24 | $1.1B | $1.3B |
| Q4 25 | $6.5B | $5.8B | ||
| Q3 25 | $7.0B | $6.1B | ||
| Q2 25 | $6.9B | $6.1B | ||
| Q1 25 | $7.0B | $6.0B | ||
| Q4 24 | $7.1B | $6.0B | ||
| Q3 24 | $7.1B | $6.0B | ||
| Q2 24 | $7.1B | $6.0B | ||
| Q1 24 | $7.2B | $6.2B |
| Q4 25 | 8.52× | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | 6.85× | 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 | $-18.5M | $158.9M |
| Free Cash FlowOCF − Capex | $-95.2M | $149.7M |
| FCF MarginFCF / Revenue | -32.1% | 26.5% |
| Capex IntensityCapex / Revenue | 25.9% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-107.0M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.5M | $158.9M | ||
| Q3 25 | $98.1M | $191.2M | ||
| Q2 25 | $-7.0K | $205.3M | ||
| Q1 25 | $38.2M | $206.6M | ||
| Q4 24 | $-9.7M | $178.9M | ||
| Q3 24 | $106.2M | $-1.6M | ||
| Q2 24 | $43.8M | $175.6M | ||
| Q1 24 | $-926.0K | $208.7M |
| Q4 25 | $-95.2M | $149.7M | ||
| Q3 25 | $57.9M | $186.9M | ||
| Q2 25 | $-46.6M | $199.0M | ||
| Q1 25 | $-23.2M | $202.0M | ||
| Q4 24 | $-88.9M | $176.6M | ||
| Q3 24 | $24.1M | $-4.9M | ||
| Q2 24 | $-22.3M | $169.4M | ||
| Q1 24 | $-77.2M | $202.1M |
| Q4 25 | -32.1% | 26.5% | ||
| Q3 25 | 15.3% | 33.0% | ||
| Q2 25 | -11.5% | 33.8% | ||
| Q1 25 | -6.9% | 36.1% | ||
| Q4 24 | -24.9% | 29.3% | ||
| Q3 24 | 6.2% | -0.8% | ||
| Q2 24 | -5.4% | 28.0% | ||
| Q1 24 | -23.0% | 34.4% |
| Q4 25 | 25.9% | 1.6% | ||
| Q3 25 | 10.6% | 0.7% | ||
| Q2 25 | 11.5% | 1.1% | ||
| Q1 25 | 18.3% | 0.8% | ||
| Q4 24 | 22.2% | 0.4% | ||
| Q3 24 | 21.0% | 0.6% | ||
| Q2 24 | 16.0% | 1.0% | ||
| Q1 24 | 22.7% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SVC
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% |
