Willscot Mobile Mini Holdings Corp A (WSC)
Working capital 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 current assets | US$ in thousands | 518,454 | 557,510 | 578,319 | 576,377 | 575,363 | 569,096 | 569,205 | 545,455 | 524,877 | 521,041 | 540,266 | 540,286 | 495,596 | 483,040 | 477,512 | 439,546 | 404,056 | 419,492 | 414,128 | 940,679 |
| Total current liabilities | US$ in thousands | 621,368 | 585,008 | 639,416 | 631,794 | 595,793 | 562,020 | 546,933 | 533,519 | 505,562 | 561,942 | 614,512 | 596,847 | 529,272 | 517,645 | 541,840 | 499,683 | 448,614 | 448,667 | 451,202 | 590,925 |
| Working capital turnover | — | — | — | — | — | 334.20 | 105.20 | 196.24 | 121.24 | — | — | — | — | — | — | — | — | — | — | 3.02 |
March 31, 2025 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,368,088K ÷ ($518,454K – $621,368K)
= —
The working capital turnover for Willscot Mobile Mini Holdings Corp A exhibited limited data coverage between June 30, 2020, and March 31, 2023. During this initial period, only the figure for June 30, 2020, is available, recorded at 3.02, indicating that the company's sales generated approximately 3.02 times its working capital during that quarter. Following this, there are no recorded values until March 31, 2023, at which point a significant increase is observed, with the ratio rising markedly to 121.24. This substantial leap suggests a dramatic improvement in the efficiency with which working capital is being used to generate sales in that period.
Subsequent data points show continued increases: on June 30, 2023, the ratio further escalates to 196.24, indicating a substantial enhancement in working capital efficiency, and then declines to 105.20 as of September 30, 2023. Later, by December 31, 2023, the ratio surges again to 334.20, representing a peak in the quarter and implying highly effective utilization of working capital relative to sales.
In summary, the company's working capital turnover was relatively stable at 3.02 in mid-2020 but remained unreported until 2023. From March 2023 onwards, the ratio shows a remarkable ascent, reaching over 300 at year-end 2023, which indicates a significant improvement in operational efficiency, managing to generate substantially higher sales relative to working capital investments. The fluctuations during 2023 may reflect changing operational strategies, seasonal effects, or shifts in working capital management that have improved overall performance. There is no data available beyond March 2024 for further analysis.