Willscot Mobile Mini Holdings Corp A (WSC)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 10,679 | 9,001 | 11,046 | 5,924 | 13,147 | 10,958 | 5,789 | 7,660 | 15,918 | 7,390 | 15,442 | 11,706 | 11,321 | 12,699 | 11,317 | 15,402 | 26,934 | 24,937 | 19,997 | 9,061 |
| Short-term investments | US$ in thousands | — | — | — | 17,124 | 17,214 | 9,145 | 13,770 | 13,215 | 8,646 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Cash ratio | 0.02 | 0.02 | 0.02 | 0.04 | 0.05 | 0.04 | 0.04 | 0.04 | 0.05 | 0.01 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.06 | 0.06 | 0.04 | 0.02 |
March 31, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($10,679K
+ $—K)
÷ $621,368K
= 0.02
The cash ratio of Willscot Mobile Mini Holdings Corp A over the period from June 2020 to March 2025 indicates limited liquidity in terms of cash and cash equivalents relative to its current liabilities. The ratio consistently remains below 0.10 throughout this period, suggesting a conservative cash position in relation to near-term liabilities.
Starting from a low of 0.02 in June 2020 and gradually increasing to a peak of 0.06 around December 2020 and March 2021, the cash ratio demonstrates minimal fluctuation with slight upward movements during this initial phase. During the subsequent periods, the ratio fluctuates within a narrow range, predominantly between 0.01 and 0.05, reflecting persistent but modest variations in cash holdings relative to current liabilities.
In late 2022, the cash ratio hits its lowest point of 0.01, indicating a particularly tight cash position, yet it recovers somewhat to approximately 0.05 by March 2023. From mid-2023 onwards, the ratio stabilizes around 0.02 to 0.05, with minor fluctuations, suggesting a consistent approach to liquidity management.
Overall, the consistently low cash ratio underscores a reliance on other forms of liquidity and working capital management strategies beyond cash holdings. This pattern may reflect an operational model that prioritizes cash flow from operational assets and receivables rather than maintaining substantial cash reserves. It also indicates potential vulnerability in meeting immediate liabilities solely with cash, emphasizing the importance of other liquid assets or credit facilities to sustain operational stability.