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Side-by-side financial comparison of WillScot Holdings Corp (WSC) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $566.0M, roughly 1.1× WillScot Holdings Corp). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs -33.1%, a 46.5% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $140.3M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% CAGR vs -1.8%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
WSC vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $566.0M | $625.1M |
| Net Profit | $-187.3M | $83.7M |
| Gross Margin | 50.4% | 49.5% |
| Operating Margin | -32.5% | 18.2% |
| Net Margin | -33.1% | 13.4% |
| Revenue YoY | -6.1% | 15.7% |
| Net Profit YoY | -310.0% | 24.0% |
| EPS (diluted) | $-1.02 | $2.50 |
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 | $566.0M | $625.1M | ||
| Q3 25 | $566.8M | $611.7M | ||
| Q2 25 | $589.1M | $643.7M | ||
| Q1 25 | $559.6M | $558.0M | ||
| Q4 24 | $602.5M | $540.4M | ||
| Q3 24 | $601.4M | $543.6M | ||
| Q2 24 | $604.6M | $597.3M | ||
| Q1 24 | $587.2M | $570.9M |
| Q4 25 | $-187.3M | $83.7M | ||
| Q3 25 | $43.3M | $82.2M | ||
| Q2 25 | $47.9M | $100.9M | ||
| Q1 25 | $43.1M | $74.0M | ||
| Q4 24 | $89.2M | $67.5M | ||
| Q3 24 | $-70.5M | $69.1M | ||
| Q2 24 | $-46.9M | $82.0M | ||
| Q1 24 | $56.2M | $72.6M |
| Q4 25 | 50.4% | 49.5% | ||
| Q3 25 | 49.7% | 48.8% | ||
| Q2 25 | 50.3% | 50.6% | ||
| Q1 25 | 53.7% | 48.8% | ||
| Q4 24 | 55.8% | 46.7% | ||
| Q3 24 | 53.5% | 47.3% | ||
| Q2 24 | 54.1% | 47.7% | ||
| Q1 24 | 54.0% | 46.9% |
| Q4 25 | -32.5% | 18.2% | ||
| Q3 25 | 21.0% | 18.2% | ||
| Q2 25 | 21.5% | 21.0% | ||
| Q1 25 | 21.3% | 15.7% | ||
| Q4 24 | 28.9% | 16.5% | ||
| Q3 24 | -5.9% | 17.1% | ||
| Q2 24 | -0.9% | 18.7% | ||
| Q1 24 | 22.1% | 16.9% |
| Q4 25 | -33.1% | 13.4% | ||
| Q3 25 | 7.6% | 13.4% | ||
| Q2 25 | 8.1% | 15.7% | ||
| Q1 25 | 7.7% | 13.3% | ||
| Q4 24 | 14.8% | 12.5% | ||
| Q3 24 | -11.7% | 12.7% | ||
| Q2 24 | -7.7% | 13.7% | ||
| Q1 24 | 9.6% | 12.7% |
| Q4 25 | $-1.02 | $2.50 | ||
| Q3 25 | $0.24 | $2.45 | ||
| Q2 25 | $0.26 | $3.01 | ||
| Q1 25 | $0.23 | $2.21 | ||
| Q4 24 | $0.48 | $2.02 | ||
| Q3 24 | $-0.37 | $2.06 | ||
| Q2 24 | $-0.25 | $2.44 | ||
| Q1 24 | $0.29 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $14.6M | $405.5M |
| Total DebtLower is stronger | $3.6B | — |
| Stockholders' EquityBook value | $856.3M | $2.0B |
| Total Assets | $5.8B | $2.9B |
| Debt / EquityLower = less leverage | 4.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.6M | $405.5M | ||
| Q3 25 | $14.8M | $457.7M | ||
| Q2 25 | $12.8M | $369.3M | ||
| Q1 25 | $10.7M | $336.8M | ||
| Q4 24 | $9.0M | $386.9M | ||
| Q3 24 | $11.0M | $303.9M | ||
| Q2 24 | $5.9M | $279.4M | ||
| Q1 24 | $13.1M | $237.1M |
| 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 | $856.3M | $2.0B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.2B | $1.6B | ||
| Q1 24 | $1.3B | $1.6B |
| Q4 25 | $5.8B | $2.9B | ||
| Q3 25 | $6.1B | $2.7B | ||
| Q2 25 | $6.1B | $2.6B | ||
| Q1 25 | $6.0B | $2.5B | ||
| Q4 24 | $6.0B | $2.4B | ||
| Q3 24 | $6.0B | $2.4B | ||
| Q2 24 | $6.0B | $2.4B | ||
| Q1 24 | $6.2B | $2.3B |
| 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 | $158.9M | $154.7M |
| Free Cash FlowOCF − Capex | $149.7M | $140.3M |
| FCF MarginFCF / Revenue | 26.5% | 22.4% |
| Capex IntensityCapex / Revenue | 1.6% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $737.7M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $158.9M | $154.7M | ||
| Q3 25 | $191.2M | $122.4M | ||
| Q2 25 | $205.3M | $69.7M | ||
| Q1 25 | $206.6M | $55.2M | ||
| Q4 24 | $178.9M | $139.5M | ||
| Q3 24 | $-1.6M | $90.7M | ||
| Q2 24 | $175.6M | $85.3M | ||
| Q1 24 | $208.7M | $45.6M |
| Q4 25 | $149.7M | $140.3M | ||
| Q3 25 | $186.9M | $110.9M | ||
| Q2 25 | $199.0M | $59.5M | ||
| Q1 25 | $202.0M | $45.6M | ||
| Q4 24 | $176.6M | $127.5M | ||
| Q3 24 | $-4.9M | $84.3M | ||
| Q2 24 | $169.4M | $78.5M | ||
| Q1 24 | $202.1M | $35.5M |
| Q4 25 | 26.5% | 22.4% | ||
| Q3 25 | 33.0% | 18.1% | ||
| Q2 25 | 33.8% | 9.2% | ||
| Q1 25 | 36.1% | 8.2% | ||
| Q4 24 | 29.3% | 23.6% | ||
| Q3 24 | -0.8% | 15.5% | ||
| Q2 24 | 28.0% | 13.1% | ||
| Q1 24 | 34.4% | 6.2% |
| Q4 25 | 1.6% | 2.3% | ||
| Q3 25 | 0.7% | 1.9% | ||
| Q2 25 | 1.1% | 1.6% | ||
| Q1 25 | 0.8% | 1.7% | ||
| Q4 24 | 0.4% | 2.2% | ||
| Q3 24 | 0.6% | 1.2% | ||
| Q2 24 | 1.0% | 1.1% | ||
| Q1 24 | 1.1% | 1.8% |
| Q4 25 | — | 1.85× | ||
| Q3 25 | 4.41× | 1.49× | ||
| Q2 25 | 4.28× | 0.69× | ||
| Q1 25 | 4.80× | 0.75× | ||
| Q4 24 | 2.01× | 2.07× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | 3.71× | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
WTS
Segment breakdown not available.
