Willscot Mobile Mini Holdings Corp A (WSC)
Return on assets (ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 14,944 | 28,129 | 25,242 | 187,233 | 321,813 | 341,844 | 341,916 | 336,128 | 321,775 | 296,675 | 284,498 | 259,873 | 206,868 | 160,144 | 132,389 | 87,538 | 78,657 | 70,666 | 33,801 | 18,038 |
| Total assets | US$ in thousands | 5,961,680 | 6,034,910 | 6,037,220 | 6,048,770 | 6,180,330 | 6,137,920 | 6,075,480 | 5,718,500 | 5,609,750 | 5,827,650 | 5,810,260 | 5,978,810 | 5,857,770 | 5,773,600 | 5,644,180 | 5,559,710 | 5,538,880 | 5,572,200 | 5,624,850 | 3,501,540 |
| ROA | 0.25% | 0.47% | 0.42% | 3.10% | 5.21% | 5.57% | 5.63% | 5.88% | 5.74% | 5.09% | 4.90% | 4.35% | 3.53% | 2.77% | 2.35% | 1.57% | 1.42% | 1.27% | 0.60% | 0.52% |
March 31, 2025 calculation
ROA = Net income (ttm) ÷ Total assets
= $14,944K ÷ $5,961,680K
= 0.25%
The analysis of Willscot Mobile Mini Holdings Corp A's return on assets (ROA) over the specified period reveals a pattern of growth followed by a notable decline toward the end of the observed timeframe. Initially, the ROA demonstrated a steady upward trajectory from 0.52% as of June 30, 2020, to a peak of approximately 5.88% on June 30, 2023. This increase indicates improved efficiency in generating earnings from the company's asset base during this period.
The trend suggests that the company’s operational performance and asset utilization were strengthening during these years, potentially driven by revenue growth, operational efficiencies, or both. The peak in June 2023 reflects a period where the company was effectively leveraging its assets to produce profit.
Following this peak, a downward trend begins, with the ROA decreasing to 5.63% as of September 30, 2023, and further down to 5.57% by December 31, 2023. This decline becomes more pronounced in early 2024, dropping sharply to approximately 3.10% at June 30, 2024. The trend continues with the ROA diminishing significantly to 0.42% in September 2024, then further to 0.47% by December 2024, and reaching a low of 0.25% as of March 31, 2025.
This substantial decrease in ROA in the latter quarters indicates a deterioration in asset efficiency or profitability related to assets. Possible factors contributing to this decline could include increased asset base without proportional revenue growth, reduced profitability, or operational challenges affecting earnings. The substantial fall in ROA underscores potential operational or strategic issues that have impacted the company's ability to generate consistent returns from its assets.
Overall, the data reflects a period of strong performance leading up to mid-2023, followed by a notable and sustained decline into early 2025. This shift warrants further investigation into underlying operational, financial, or external factors that may have contributed to the downturn in asset efficiency and profitability.