Willscot Mobile Mini Holdings Corp A (WSC)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,267,182 | 1,283,704 | 1,290,531 | 1,308,741 | 1,327,630 | 1,333,870 | 1,319,017 | 1,293,655 | 1,274,656 | 1,218,343 | 1,168,489 | 1,107,706 | 1,021,643 | 968,208 | 923,994 | 880,009 | 767,163 | 659,973 | 527,055 | 420,917 |
| 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 |
| Gross profit margin | 53.51% | 53.58% | 53.65% | 54.33% | 55.63% | 56.41% | 56.30% | 55.23% | 54.43% | 53.31% | 52.81% | 52.77% | 51.64% | 51.10% | 50.92% | 50.53% | 49.91% | 48.26% | 43.91% | 39.89% |
March 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,267,182K ÷ $2,368,088K
= 53.51%
The gross profit margin of Willscot Mobile Mini Holdings Corp A exhibits a notable upward trajectory from June 30, 2020, through March 31, 2023. Starting at 39.89%, the margin gradually increased over this period, reaching a peak of 56.41% at the end of 2023. This consistent improvement indicates an enhanced ability to generate gross profit relative to revenue, which may be attributable to factors such as better pricing strategies, cost control measures, operational efficiencies, or favorable shifts in product or service mix.
Between 2020 and early 2023, the gross profit margin demonstrated steady growth, reflecting a period of operational strengthening. The margin increased by over 16 percentage points, signifying a robust expansion of profitability at the gross level. Following this peak, a slight decline is observed in 2024, with the figure decreasing to approximately 53.58% by the end of December 2024, and further marginal reductions seen through the first quarter of 2025 to around 53.51%. This decrease may suggest pressures such as rising costs, changes in pricing environment, increased competition, or shifts in product mix that have slightly eroded profit margins.
Overall, the trend indicates a company that has successfully improved its gross margin over multiple fiscal periods, reaching a high point in late 2023 before experiencing modest compression. The stability of margins around the low-to-mid 50% range in recent months suggests a mature state of operational efficiency, albeit with some headwinds affecting profitability margins at the gross level toward the end of the observed period.