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Side-by-side financial comparison of TRUPANION, INC. (TRUP) 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 $376.9M, roughly 1.5× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $25.3M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% CAGR vs -1.8%).
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
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.
TRUP vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $376.9M | $566.0M |
| Net Profit | — | $-187.3M |
| Gross Margin | 17.3% | 50.4% |
| Operating Margin | 1.9% | -32.5% |
| Net Margin | — | -33.1% |
| Revenue YoY | 11.7% | -6.1% |
| Net Profit YoY | — | -310.0% |
| EPS (diluted) | $0.13 | $-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 | $376.9M | $566.0M | ||
| Q3 25 | $366.9M | $566.8M | ||
| Q2 25 | $353.6M | $589.1M | ||
| Q1 25 | $342.0M | $559.6M | ||
| Q4 24 | $337.3M | $602.5M | ||
| Q3 24 | $327.5M | $601.4M | ||
| Q2 24 | $314.8M | $604.6M | ||
| Q1 24 | $306.1M | $587.2M |
| Q4 25 | — | $-187.3M | ||
| Q3 25 | — | $43.3M | ||
| Q2 25 | — | $47.9M | ||
| Q1 25 | — | $43.1M | ||
| Q4 24 | — | $89.2M | ||
| Q3 24 | — | $-70.5M | ||
| Q2 24 | — | $-46.9M | ||
| Q1 24 | — | $56.2M |
| Q4 25 | 17.3% | 50.4% | ||
| Q3 25 | 16.4% | 49.7% | ||
| Q2 25 | 15.5% | 50.3% | ||
| Q1 25 | 14.9% | 53.7% | ||
| Q4 24 | 15.7% | 55.8% | ||
| Q3 24 | 15.1% | 53.5% | ||
| Q2 24 | 12.8% | 54.1% | ||
| Q1 24 | 11.8% | 54.0% |
| Q4 25 | 1.9% | -32.5% | ||
| Q3 25 | 1.6% | 21.0% | ||
| Q2 25 | 0.7% | 21.5% | ||
| Q1 25 | -0.4% | 21.3% | ||
| Q4 24 | 0.1% | 28.9% | ||
| Q3 24 | 0.5% | -5.9% | ||
| Q2 24 | -1.7% | -0.9% | ||
| Q1 24 | -2.0% | 22.1% |
| Q4 25 | — | -33.1% | ||
| Q3 25 | — | 7.6% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | -7.7% | ||
| Q1 24 | — | 9.6% |
| Q4 25 | $0.13 | $-1.02 | ||
| Q3 25 | $0.13 | $0.24 | ||
| Q2 25 | $0.22 | $0.26 | ||
| Q1 25 | $-0.03 | $0.23 | ||
| Q4 24 | $0.04 | $0.48 | ||
| Q3 24 | $0.03 | $-0.37 | ||
| Q2 24 | $-0.14 | $-0.25 | ||
| Q1 24 | $-0.16 | $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 | $370.7M | $14.6M |
| Total DebtLower is stronger | $101.8M | $3.6B |
| Stockholders' EquityBook value | $383.9M | $856.3M |
| Total Assets | $915.0M | $5.8B |
| Debt / EquityLower = less leverage | 0.27× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $370.7M | $14.6M | ||
| Q3 25 | $348.5M | $14.8M | ||
| Q2 25 | $319.6M | $12.8M | ||
| Q1 25 | $321.8M | $10.7M | ||
| Q4 24 | $307.4M | $9.0M | ||
| Q3 24 | $293.1M | $11.0M | ||
| Q2 24 | $277.2M | $5.9M | ||
| Q1 24 | $275.2M | $13.1M |
| Q4 25 | $101.8M | $3.6B | ||
| Q3 25 | — | $3.6B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.6B | ||
| Q4 24 | $127.5M | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $383.9M | $856.3M | ||
| Q3 25 | $368.6M | $1.1B | ||
| Q2 25 | $355.5M | $1.0B | ||
| Q1 25 | $333.7M | $1.0B | ||
| Q4 24 | $323.3M | $1.0B | ||
| Q3 24 | $320.2M | $1.1B | ||
| Q2 24 | $305.8M | $1.2B | ||
| Q1 24 | $303.4M | $1.3B |
| Q4 25 | $915.0M | $5.8B | ||
| Q3 25 | $880.2M | $6.1B | ||
| Q2 25 | $847.8M | $6.1B | ||
| Q1 25 | $837.2M | $6.0B | ||
| Q4 24 | $806.9M | $6.0B | ||
| Q3 24 | $816.1M | $6.0B | ||
| Q2 24 | $795.9M | $6.0B | ||
| Q1 24 | $789.5M | $6.2B |
| Q4 25 | 0.27× | 4.15× | ||
| Q3 25 | — | 3.39× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 3.56× | ||
| Q4 24 | 0.39× | 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 | $29.3M | $158.9M |
| Free Cash FlowOCF − Capex | $25.3M | $149.7M |
| FCF MarginFCF / Revenue | 6.7% | 26.5% |
| Capex IntensityCapex / Revenue | 1.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.4M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $158.9M | ||
| Q3 25 | $29.2M | $191.2M | ||
| Q2 25 | $15.0M | $205.3M | ||
| Q1 25 | $16.0M | $206.6M | ||
| Q4 24 | $23.7M | $178.9M | ||
| Q3 24 | $15.3M | $-1.6M | ||
| Q2 24 | $6.9M | $175.6M | ||
| Q1 24 | $2.4M | $208.7M |
| Q4 25 | $25.3M | $149.7M | ||
| Q3 25 | $23.9M | $186.9M | ||
| Q2 25 | $12.0M | $199.0M | ||
| Q1 25 | $14.0M | $202.0M | ||
| Q4 24 | $21.8M | $176.6M | ||
| Q3 24 | $13.4M | $-4.9M | ||
| Q2 24 | $4.0M | $169.4M | ||
| Q1 24 | $-631.0K | $202.1M |
| Q4 25 | 6.7% | 26.5% | ||
| Q3 25 | 6.5% | 33.0% | ||
| Q2 25 | 3.4% | 33.8% | ||
| Q1 25 | 4.1% | 36.1% | ||
| Q4 24 | 6.5% | 29.3% | ||
| Q3 24 | 4.1% | -0.8% | ||
| Q2 24 | 1.3% | 28.0% | ||
| Q1 24 | -0.2% | 34.4% |
| Q4 25 | 1.0% | 1.6% | ||
| Q3 25 | 1.4% | 0.7% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | 0.6% | 0.8% | ||
| Q4 24 | 0.6% | 0.4% | ||
| Q3 24 | 0.6% | 0.6% | ||
| Q2 24 | 0.9% | 1.0% | ||
| Q1 24 | 1.0% | 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
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
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% |
