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Side-by-side financial comparison of Walker & Dunlop, Inc. (WD) 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 $340.0M, roughly 1.7× Walker & Dunlop, Inc.). Walker & Dunlop, Inc. runs the higher net margin — -12.9% vs -33.1%, a 20.2% gap on every dollar of revenue. On growth, Walker & Dunlop, Inc. posted the faster year-over-year revenue change (-0.4% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs -1.8%).
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
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.
WD vs WSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $340.0M | $566.0M |
| Net Profit | $-13.9M | $-187.3M |
| Gross Margin | — | 50.4% |
| Operating Margin | -17.2% | -32.5% |
| Net Margin | -12.9% | -33.1% |
| Revenue YoY | -0.4% | -6.1% |
| Net Profit YoY | -131.0% | -310.0% |
| EPS (diluted) | $-0.41 | $-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 | $340.0M | $566.0M | ||
| Q3 25 | $337.7M | $566.8M | ||
| Q2 25 | $319.2M | $589.1M | ||
| Q1 25 | $237.4M | $559.6M | ||
| Q4 24 | $341.5M | $602.5M | ||
| Q3 24 | $292.3M | $601.4M | ||
| Q2 24 | $270.7M | $604.6M | ||
| Q1 24 | $228.1M | $587.2M |
| Q4 25 | $-13.9M | $-187.3M | ||
| Q3 25 | $33.5M | $43.3M | ||
| Q2 25 | $34.0M | $47.9M | ||
| Q1 25 | $2.8M | $43.1M | ||
| Q4 24 | $44.8M | $89.2M | ||
| Q3 24 | $28.8M | $-70.5M | ||
| Q2 24 | $22.7M | $-46.9M | ||
| Q1 24 | $11.9M | $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 | -17.2% | -32.5% | ||
| Q3 25 | 13.6% | 21.0% | ||
| Q2 25 | 14.5% | 21.5% | ||
| Q1 25 | 2.2% | 21.3% | ||
| Q4 24 | 15.3% | 28.9% | ||
| Q3 24 | 12.8% | -5.9% | ||
| Q2 24 | 10.4% | -0.9% | ||
| Q1 24 | 6.0% | 22.1% |
| Q4 25 | -12.9% | -33.1% | ||
| Q3 25 | 9.9% | 7.6% | ||
| Q2 25 | 10.6% | 8.1% | ||
| Q1 25 | 1.2% | 7.7% | ||
| Q4 24 | 13.1% | 14.8% | ||
| Q3 24 | 9.9% | -11.7% | ||
| Q2 24 | 8.4% | -7.7% | ||
| Q1 24 | 5.2% | 9.6% |
| Q4 25 | $-0.41 | $-1.02 | ||
| Q3 25 | $0.98 | $0.24 | ||
| Q2 25 | $0.99 | $0.26 | ||
| Q1 25 | $0.08 | $0.23 | ||
| Q4 24 | $1.32 | $0.48 | ||
| Q3 24 | $0.85 | $-0.37 | ||
| Q2 24 | $0.67 | $-0.25 | ||
| Q1 24 | $0.35 | $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 | $299.3M | $14.6M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $1.7B | $856.3M |
| Total Assets | $5.1B | $5.8B |
| Debt / EquityLower = less leverage | — | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $299.3M | $14.6M | ||
| Q3 25 | $274.8M | $14.8M | ||
| Q2 25 | $233.7M | $12.8M | ||
| Q1 25 | $181.0M | $10.7M | ||
| Q4 24 | $279.3M | $9.0M | ||
| Q3 24 | $179.8M | $11.0M | ||
| Q2 24 | $208.1M | $5.9M | ||
| Q1 24 | $216.5M | $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 | $1.7B | $856.3M | ||
| Q3 25 | $1.8B | $1.1B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.7B | $1.0B | ||
| Q4 24 | $1.7B | $1.0B | ||
| Q3 24 | $1.7B | $1.1B | ||
| Q2 24 | $1.7B | $1.2B | ||
| Q1 24 | $1.7B | $1.3B |
| Q4 25 | $5.1B | $5.8B | ||
| Q3 25 | $5.8B | $6.1B | ||
| Q2 25 | $4.7B | $6.1B | ||
| Q1 25 | $4.5B | $6.0B | ||
| Q4 24 | $4.4B | $6.0B | ||
| Q3 24 | $4.6B | $6.0B | ||
| Q2 24 | $4.2B | $6.0B | ||
| Q1 24 | $3.8B | $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 | $-664.3M | $158.9M |
| Free Cash FlowOCF − Capex | $-680.1M | $149.7M |
| FCF MarginFCF / Revenue | -200.0% | 26.5% |
| Capex IntensityCapex / Revenue | 4.6% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.2B | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-664.3M | $158.9M | ||
| Q3 25 | $-948.1M | $191.2M | ||
| Q2 25 | $-238.5M | $205.3M | ||
| Q1 25 | $-281.1M | $206.6M | ||
| Q4 24 | $129.4M | $178.9M | ||
| Q3 24 | $-202.0M | $-1.6M | ||
| Q2 24 | $-237.8M | $175.6M | ||
| Q1 24 | $38.4M | $208.7M |
| Q4 25 | $-680.1M | $149.7M | ||
| Q3 25 | $-950.4M | $186.9M | ||
| Q2 25 | $-241.0M | $199.0M | ||
| Q1 25 | $-284.7M | $202.0M | ||
| Q4 24 | $116.4M | $176.6M | ||
| Q3 24 | $-204.0M | $-4.9M | ||
| Q2 24 | $-241.7M | $169.4M | ||
| Q1 24 | $35.2M | $202.1M |
| Q4 25 | -200.0% | 26.5% | ||
| Q3 25 | -281.5% | 33.0% | ||
| Q2 25 | -75.5% | 33.8% | ||
| Q1 25 | -120.0% | 36.1% | ||
| Q4 24 | 34.1% | 29.3% | ||
| Q3 24 | -69.8% | -0.8% | ||
| Q2 24 | -89.3% | 28.0% | ||
| Q1 24 | 15.4% | 34.4% |
| Q4 25 | 4.6% | 1.6% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | 1.5% | 0.8% | ||
| Q4 24 | 3.8% | 0.4% | ||
| Q3 24 | 0.7% | 0.6% | ||
| Q2 24 | 1.4% | 1.0% | ||
| Q1 24 | 1.4% | 1.1% |
| Q4 25 | — | — | ||
| Q3 25 | -28.34× | 4.41× | ||
| Q2 25 | -7.02× | 4.28× | ||
| Q1 25 | -102.07× | 4.80× | ||
| Q4 24 | 2.89× | 2.01× | ||
| Q3 24 | -7.01× | — | ||
| Q2 24 | -10.49× | — | ||
| Q1 24 | 3.24× | 3.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
WD
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% |
