Willscot Mobile Mini Holdings Corp A (WSC)
Days of sales outstanding (DSO)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 5.91 | 5.57 | 5.40 | 5.45 | 5.30 | 5.24 | 4.99 | 5.30 | 5.64 | 5.58 | 5.04 | 4.76 | 4.91 | 4.74 | 4.56 | 4.77 | 4.77 | 4.13 | 3.61 | 4.57 | |
| DSO | days | 61.73 | 65.57 | 67.65 | 67.00 | 68.91 | 69.63 | 73.12 | 68.82 | 64.74 | 65.45 | 72.47 | 76.69 | 74.38 | 77.03 | 80.13 | 76.54 | 76.56 | 88.32 | 100.97 | 79.91 |
March 31, 2025 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.91
= 61.73
The analysis of WillScot Mobile Mini Holdings Corp A’s Days of Sales Outstanding (DSO) over the period from June 30, 2020, to March 31, 2025, indicates notable variations with an overall declining trend in recent years.
During the initial period, the DSO was approximately 79.91 days as of June 30, 2020, rising sharply to a peak of 100.97 days by September 30, 2020. This increase suggests a period of slower collections or potentially more lenient credit policies during that time. Following this peak, the DSO decreased to 88.32 days by December 31, 2020, implying some stabilization.
From early 2021 onwards, the DSO generally trended downward, reaching around 76.54 days by June 30, 2021, and remaining relatively stable through September and December 2021 at approximately 80.13 and 77.03 days, respectively. Throughout 2022, a consistent decrease was observed, with the DSO reducing to 65.45 days by December 31, 2022. This indicates an improvement in the company's receivables collection efficiency.
The downward trajectory continued into 2023, with the DSO further declining to around 64.74 days in March and reaching approximately 68.82 days by June 30, 2023. However, slight fluctuations occurred thereafter, with DSO values of approximately 73.12 days in September 2023 and 69.63 days at year's end, before decreasing again in early 2024 to about 68.91 days by March 31, 2024. The trend towards faster receivables collection persisted, with the DSO reaching 67.00 days in June 2024 and maintaining a similar level through September and December 2024, around 67 days.
By March 31, 2025, the DSO further declined to approximately 61.73 days, representing the lowest point in the analyzed period. This consistent decline over the last several quarters indicates considerable improvement in the company's collections efficiency.
Overall, the data reflects a significant reduction in the days of sales outstanding from a high near 101 days in late 2020 to approximately 62 days by early 2025. This trend may be indicative of enhanced credit control measures, improved customer payment behaviors, or strategic adjustments to credit policies, contributing to a shorter receivables collection cycle and generally healthier liquidity management.