
"WSC short: Core business imploding despite 30% growth in cold storage & clearspan segments. Units on rent falling, revenue -3.4%, EBITDA down, CapEx up. Depreciation charge spiked 17% YoY despite lower units/revenue - sign of fleet devaluation? $3.6B debt with $1.5B due 2027 likely unpayable. Ancient fleet, unrentable inventory = potential equity wipeout."
Is Willscot a Zero?
DF Research
August 6, 2025
Stock Idea