Willscot Mobile Mini Holdings Corp A (WSC)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| 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 |
| Quick ratio | 0.66 | 0.75 | 0.71 | 0.74 | 0.81 | 0.84 | 0.89 | 0.87 | 0.87 | 0.74 | 0.74 | 0.76 | 0.78 | 0.80 | 0.76 | 0.76 | 0.78 | 0.79 | 0.78 | 0.41 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($10,679K
+ $—K
+ $400,501K)
÷ $621,368K
= 0.66
The quick ratio of Willscot Mobile Mini Holdings Corp A demonstrated notable fluctuations over the analyzed period from June 30, 2020, to March 31, 2025. Initially, the ratio commenced at 0.41 in June 2020, indicating a relatively low liquidity position with immediate liabilities being less than half of the liquid assets available to cover current obligations. Subsequently, there was a significant increase by September 30, 2020, reaching 0.78, and it maintained levels close to 0.79 through the end of 2020 and into the first quarter of 2021. The ratio stabilized around 0.76 to 0.80 in 2021, reflecting slight improvements in liquidity, yet still remaining below 1.00, signifying that liquid assets were generally insufficient to cover all current liabilities without inventory considerations.
Throughout 2022, the ratio showed a modest decline to approximately 0.74 but saw a notable increase to 0.87 by March 2023, reaching its highest point within the observed period. This upward movement suggests enhanced liquidity management or improved liquid asset holdings relative to current liabilities during that time. From mid-2023 onward, the ratio declined again, reaching around 0.66 by March 2025. The overall trend indicates periodic increases in liquidity during certain periods, followed by declines, with the ratio remaining below unity in most instances.
Overall, the data reflect a generally cautious liquidity profile, with quick ratios consistently below 1.00, implying that the company's liquid assets were often insufficient to fully cover its current liabilities. The fluctuations suggest responsiveness to operational or market conditions, but they also underscore persistent liquidity constraints, which are characteristic of businesses operating within capital-intensive or asset-light sectors. The observed decrease in the ratio toward early 2025 may warrant closer attention to liquidity management strategies going forward.