Willscot's Debt Reckoning
10 months ago
DF Research
"WSC (overview): Key pillars of bull thesis battered. Fleet utilization down, EBITDA -1.1%, FCF -17.1% Q4. 2025 guidance: EBITDA -1%, CapEx +14%. Debt/UOR up 63% in 3yrs. $527M due Jun 2025, $2.1B ABL Jun 2027. Old fleet can't support debt. Buyout unlikely due to high leverage, poor fleet quality."
Sentiment
neutral
Conviction
Medium
Tier
Trade Call
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Episode Information
Episode:
Willscot's Debt Reckoning
Source:
DF Research
Published:
February 28, 2025
Idea Type:
Stock Idea