Willscot Mobile Mini Holdings Corp A (WSC)
Receivables 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 |
| Receivables | US$ in thousands | 400,501 | 430,381 | 445,869 | 442,205 | 450,572 | 451,130 | 469,344 | 441,643 | 415,344 | 409,766 | 439,309 | 440,993 | 403,153 | 399,887 | 398,350 | 365,164 | 322,425 | 330,942 | 332,021 | 231,007 |
| 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 |
March 31, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $2,368,088K ÷ $400,501K
= 5.91
The receivables turnover ratio for Willscot Mobile Mini Holdings Corp A demonstrates a generally upward trend over the period analyzed, moving from a low of 3.61 as of September 30, 2020, to a higher level of 5.91 projected for March 2025.
In the initial quarters, the ratio experienced fluctuations, with a noticeable increase from 4.57 at June 30, 2020, to 4.77 by March 31, 2021, indicating a modest improvement in the company's efficiency in collecting accounts receivable. The ratio remained relatively stable through the rest of 2021 and into 2022, with values oscillating around 4.5 to 4.9, reflecting a period of stability in receivables management.
Starting from the second quarter of 2022, the ratio shows more consistent growth, reaching 5.58 by December 2022 and continuing to trend upward through 2023 and into 2024. Notably, the ratio hits 5.91 in the first quarter of 2025, the highest point within the documented period.
This increasing trend suggests that the company has been improving its collection efficiency over time, possibly through tighter credit policies, better collection processes, or a change in the customer base that results in quicker receivables turnover. As a higher receivables turnover ratio indicates a shorter period to convert receivables into cash, this trend signals a potential strengthening of working capital management and healthier cash flow metrics.
Overall, the data reflects a positive trajectory in receivables management, moving towards more efficient collection practices, which may positively impact liquidity and operational flexibility.