Willscot Mobile Mini Holdings Corp A (WSC)

Current 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
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
Current ratio 0.83 0.95 0.90 0.91 0.97 1.01 1.04 1.02 1.04 0.93 0.88 0.91 0.94 0.93 0.88 0.88 0.90 0.93 0.92 1.59

March 31, 2025 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $518,454K ÷ $621,368K
= 0.83

The current ratio of Willscot Mobile Mini Holdings Corp A has exhibited notable fluctuations over the observed period from June 30, 2020, through March 31, 2025. Initially, on June 30, 2020, the ratio was relatively strong at 1.59, indicating that current assets significantly exceeded current liabilities. However, by September 30, 2020, the ratio sharply declined to 0.92, falling below the critical threshold of 1.0, which suggests that the company's current assets only marginally covered its current liabilities at that time.

Throughout the subsequent quarters until March 31, 2021, the ratio remained below 1.0, oscillating around approximately 0.88 to 0.93. This persistent decrease and stabilization below 1.0 imply periods where liquidity was constrained, potentially raising concerns about short-term financial flexibility. After March 31, 2021, the ratio continued to hover near 0.88 to 0.94, indicating that the company's ability to meet short-term obligations without liquidating inventories or other less liquid assets was consistently tight.

Starting in the first quarter of 2023, the ratio showed signs of improvement, surpassing 1.0 with a value of 1.04 on March 31, 2023. This improvement persisted into June 30, 2023, with a ratio of 1.02, and remained relatively stable around 1.04 through September 30, 2023. This shift signifies a period during which the company's liquidity position strengthened, providing a greater cushion to cover current liabilities.

However, from December 31, 2023, onward there was a slight decline, with the ratio decreasing to 0.97 by March 31, 2024, and further to 0.91 on June 30, 2024. The most recent data point for September 30, 2024, indicates a ratio of 0.90, and by December 31, 2024, the ratio had increased slightly to 0.95. The latest ratio recorded on March 31, 2025, is 0.83, continuing the trend of below 1.0.

Overall, the company's current ratio indicates periods of liquidity stress, particularly between late 2020 and mid-2022, with some recovery observed in early 2023. Despite improvements in recent periods, the ratio remains predominantly below the generally considered safe threshold of 1.5, suggesting that the firm may rely on operational efficiency, managing receivables and payables carefully, or external financing to meet its short-term liabilities. The fluctuating nature of the ratio underscores the importance of continued monitoring of liquidity positions and cash flow management.