Willscot Mobile Mini Holdings Corp A (WSC)
Total 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 |
| Total assets | US$ in thousands | 5,961,680 | 6,034,910 | 6,037,220 | 6,048,770 | 6,180,330 | 6,137,920 | 6,075,480 | 5,718,500 | 5,609,750 | 5,827,650 | 5,810,260 | 5,978,810 | 5,857,770 | 5,773,600 | 5,644,180 | 5,559,710 | 5,538,880 | 5,572,200 | 5,624,850 | 3,501,540 |
| Total asset turnover | 0.40 | 0.40 | 0.40 | 0.40 | 0.39 | 0.39 | 0.39 | 0.41 | 0.42 | 0.39 | 0.38 | 0.35 | 0.34 | 0.33 | 0.32 | 0.31 | 0.28 | 0.25 | 0.21 | 0.30 |
March 31, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,368,088K ÷ $5,961,680K
= 0.40
The analysis of Willscot Mobile Mini Holdings Corp A’s total asset turnover ratio over the period from June 2020 through March 2025 indicates a generally stable efficiency in utilizing its assets to generate revenue.
Throughout 2020, the ratio experienced some fluctuation, starting at 0.30 in June, declining to 0.21 by September, then gradually increasing to 0.25 at year-end. This initial variability suggests periods of operational inefficiency or changes in asset utilization during that year.
From the first quarter of 2021 onward, the ratio demonstrates a consistent upward trend, reaching 0.31 by June 2021, and continuing to improve steadily through September and December of 2021, at 0.32 and 0.33 respectively. This suggests an ongoing enhancement in asset utilization efficiency during this period.
The upward momentum persisted into 2022, with the ratio reaching 0.34 in March, then rising to 0.35 by June, and subsequently accelerating to 0.38 by September and 0.39 at year-end. The continued increase indicates improved revenue generation relative to the company's asset base.
In 2023, the total asset turnover ratio further improved, reaching 0.42 in March, before stabilizing around 0.39 to 0.40 for the remaining periods of 2023 and into 2024. This plateau signifies a stabilization of asset utilization efficiency after a period of growth.
Overall, from mid-2020 onward, the ratio exhibits a positive trend with incremental increases, reflecting a generally improving capacity to generate revenue from assets. The consistency in the ratios post-2022 suggests effective management and operational stability in how assets are employed to produce sales. However, the ratios remain below 0.5 throughout this period, indicating modest asset efficiency relative to some industry peers, but with clear improvement over time.