Willscot Mobile Mini: Death of a Roll-up
about 1 year ago
DF Research
"WSC short: FTC blocks MGRC deal, ending roll-up growth. 16.8% provision for credit losses vs 1% peers signals accounting risk. Pricing power fading, VAPS stagnant. URI competition rising. EBITDA growth cut to 4% for 2024. FCF declining as CapEx rises. $525M debt due 2025, $1.8B 2027. Ancient fleet needs investment. Buybacks vs debt repayment dilemma."
Sentiment
bearish
Conviction
Medium
Tier
Trade Call
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Episode Information
Episode:
Willscot Mobile Mini: Death of a Roll-up
Source:
DF Research
Published:
September 26, 2024
Idea Type:
Stock Idea