Willscot Mobile Mini Holdings Corp A (WSC)
Return on equity (ROE)
| 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 stockholders’ equity | US$ in thousands | 1,011,360 | 1,018,590 | 1,054,080 | 1,201,340 | 1,320,130 | 1,261,250 | 1,312,640 | 1,438,540 | 1,563,920 | 1,565,300 | 1,681,140 | 1,773,950 | 1,966,180 | 1,996,760 | 1,956,580 | 2,005,410 | 2,005,890 | 2,141,280 | 2,094,500 | 705,090 |
| ROE | 1.48% | 2.76% | 2.39% | 15.59% | 24.38% | 27.10% | 26.05% | 23.37% | 20.57% | 18.95% | 16.92% | 14.65% | 10.52% | 8.02% | 6.77% | 4.37% | 3.92% | 3.30% | 1.61% | 2.56% |
March 31, 2025 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $14,944K ÷ $1,011,360K
= 1.48%
The analysis of Willscot Mobile Mini Holdings Corp A's return on equity (ROE) over the specified period demonstrates notable fluctuations indicative of varying profitability and efficiency in generating returns for shareholders. From June 30, 2020, through December 31, 2023, the ROE exhibited a consistent upward trend, commencing at a modest 2.56% and gradually increasing solidly to reach 27.10%. This upward trajectory suggests a period of improving operational efficiency and profitability, likely attributable to strategic initiatives, market expansion, or operational enhancements during this timeframe.
Specifically, the ROE experienced a steady climb from 1.61% in September 2020 to 20.57% as of March 2023, with particularly significant growth observed between September 2021 (6.77%) and September 2022 (16.92%). The peak of 27.10% was recorded on December 31, 2023, indicating a period of notable shareholder return generation and effective utilization of equity capital.
However, post-December 2023, the ROE evidenced a downward trend, declining sharply to 24.38% in March 2024, followed by further decreases to 15.59% in June 2024, 2.39% in September 2024, and eventually dipping to 2.76% in December 2024. The subsequent quarter (March 2025) showed a continued decline to 1.48%. These declines suggest significant deterioration in profitability or efficiency, possibly due to market conditions, operational challenges, or changes in asset base or leverage.
Overall, the company's ROE demonstrates a period of enhancement from mid-2020 through the end of 2023, aligning with improving financial performance. Conversely, the sharp decline starting early 2024 indicates a reduction in the company's ability to generate returns relative to shareholders' equity, illustrating a potential reversal in financial health or strategic challenges impacting profitability in the most recent periods.