Willscot Mobile Mini Holdings Corp A (WSC)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,368,088 | 2,395,718 | 2,405,579 | 2,408,981 | 2,386,480 | 2,364,767 | 2,342,945 | 2,342,284 | 2,341,837 | 2,285,263 | 2,212,629 | 2,099,008 | 1,978,468 | 1,894,897 | 1,814,624 | 1,741,387 | 1,537,147 | 1,367,645 | 1,200,190 | 1,055,215 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | — | 3,196,520 | 3,128,060 | 3,077,290 | 3,227,740 | 557,973 | 3,164,080 | 3,080,980 | 541,053 | 538,746 | 529,947 | 535,744 | 529,898 | 289,175 |
| Fixed asset turnover | — | — | — | — | — | — | — | 0.73 | 0.75 | 0.74 | 0.69 | 3.76 | 0.63 | 0.62 | 3.35 | 3.23 | 2.90 | 2.55 | 2.26 | 3.65 |
March 31, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,368,088K ÷ $—K
= —
The fixed asset turnover ratio for Willscot Mobile Mini Holdings Corp A exhibits notable fluctuations over the observed periods. Initially, as of June 30, 2020, the ratio was 3.65, indicating a relatively high efficiency in utilizing fixed assets to generate revenue. However, by September 30, 2020, the ratio decreased significantly to 2.26, reflecting a decline in asset utilization efficiency. This downward trend continued into December 31, 2020, with the ratio edging up slightly to 2.55, and then rising further to 2.90 by March 31, 2021, suggesting some recovery in asset productivity.
The ratio peaked again at 3.35 as of September 30, 2021, and reached its highest point at 3.76 on June 30, 2022, indicating periods of improved efficiency. Nonetheless, a sharp and sustained decline is observed thereafter, with the ratio dropping substantially to 0.62 at the end of 2021 and remaining very low at 0.63 by March 31, 2022. This decline persisted into late 2022, with the ratio at 0.69 on September 30, 2022, and 0.74 on December 31, 2022. The ratio stabilized at approximately 0.75 during the first half of 2023 before data becomes unavailable for subsequent periods.
Overall, the pattern suggests that the company's ability to efficiently utilize its fixed assets for revenue generation diminished sharply after mid-2021, aligning with periods of apparent operational challenges or asset utilization issues. The earlier periods reflect a phase of relatively efficient fixed asset use, which substantially deteriorated in later periods, indicating potential changes in asset base, operational scale, or strategic focus.