WillScot Holdings Corporation research snapshot
WSC AI stock analysis as of the August 3, 2026 data cutoff reads WillScot Holdings Corporation as the largest North American modular space and portable storage provider, with $2.27 billion in trailing revenue, free cash flow near $447 million over the trailing twelve months, and a $4.39 billion market cap. The investment case rests on improving large project demand in data center, power, utility, and diversified manufacturing, a raised 2026 outlook with $2.25 billion revenue and $915 million adjusted EBITDA, and strong cash conversion. The caution is that WillScot carries high leverage at 3.7x net debt to adjusted EBITDA, generated negative GAAP net income over the trailing year, and is exposed to cyclical local market demand and interest expense near $202 million a year. The stock pulled back from a late-June high near $29 to a $24.28 close on July 31, 2026, down about 8.9% over the last 20 trading days while still up roughly 29% year to date and holding above the 100-day and 200-day moving averages. The WSC AI stock forecast uses scenarios, not a certain price prediction, and this page is informational research, not investment advice.
Current price
$24.28
Market cap
$4.39 billion (computed as $24.28 x 180.99 million shares)
AI score
56 / 100
Rating
Levered modular space leader with improving commercial demand, strong FCF, and cyclical risk
Trend status
Cooling. WSC pulled back from a late-June high near $29 to a $24.28 close on July 31, 2026, trading below its 20-day and 50-day moving averages with 14-day RSI near 37, while still holding above the 100-day and 200-day trend lines and up about 29% year to date.
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | WillScot leases modular space and portable storage to construction, industrial, energy, data center, and government customers across North America. Q1 2026 revenue was $548.6 million with adjusted EBITDA of $211 million at a 38.5% margin, and the company beat its outlook and raised full year guidance. | Medium-high |
| Moat | The moat is scale-based: the largest modular rental fleet in North America, roughly 250 branch locations, and national account relationships create an advantage over smaller local competitors. Switching costs are low for individual projects, which limits pricing power. | Medium |
| Management | CEO Tim Boswell and the team beat the Q1 2026 outlook, raised full year guidance to $2.25 billion revenue and $915 million adjusted EBITDA, paid down $76 million of debt, and returned $20 million to shareholders in the quarter. | Medium-high |
| Financial trend | TTM revenue was $2.27 billion with free cash flow near $447 million, but GAAP net income was negative at -$67.92 million over the trailing twelve months and the balance sheet carries about $3.5 billion of debt at 3.7x net debt to adjusted EBITDA. | High |
| Valuation | At $24.28, WSC trades at about 21.25x forward earnings, 9.83x free cash flow, 5.05x book value, and 14.03x EV/EBITDA, with a 1.15% dividend yield. The forward multiple is not demanding for a quality roll-up, but the EV/EBITDA reflects the high debt load. | Medium |
| Technical trend | WSC closed at $24.28 on July 31, 2026, below its 20-day and 50-day moving averages near $26.06 and $26.63, with 14-day RSI near 36.74 and weak ADX, while still above the 100-day and 200-day moving averages near $23.62 and $22.08 and up about 29% year to date. | Medium |
| Risk level | Risk is medium-high due to 3.7x net debt to adjusted EBITDA, roughly $202 million of annual cash interest expense, negative GAAP net income over TTM, elevated short interest near 10.18% of shares outstanding, and cyclical exposure to construction end markets. | High |
| AI confidence | High for historical financials, balance sheet data, and valuation math cross-checked across StockAnalysis.com and the Q1 2026 earnings release. Lower for leasing revenue inflection timing, units on rent, and share-price outcomes. | High data confidence |
| Investment certainty | Low-medium certainty because WillScot has a strong market position, improving demand, and good FCF, but leverage and cyclicality cap the margin of safety for long-term holding. | Low-medium |
WSC AI stock forecast
The WSC AI stock forecast uses a three-year scenario framework around the $24.28 cutoff price and the raised 2026 outlook of $2.25 billion revenue and $915 million adjusted EBITDA. Using consensus forward adjusted EPS near $1.10 to $1.14, an assumed 14% to 20% EPS growth path, and exit multiples from 14x to 20x, the scenario model produced a bullish area near $34, a base area near $26, and a bearish area near $18. These are scenario outputs, not promises.
$30 to $38
More likely if leasing revenue inflects positive in the second half of 2026, large project demand in data center, power, utility, and diversified manufacturing sustains, adjusted EBITDA reaches or exceeds $915 million, leverage drops toward 3x, and the market pays about 19x to 20x forward adjusted earnings.
$23 to $29
Likely if the 2026 guidance is delivered near the midpoint, adjusted EPS grows from about $1.10 toward $1.35, local market demand stabilizes, and the market holds the stock near a 16x to 18x forward multiple, in line with the $28.80 average analyst target.
$15 to $22
More likely if leasing revenue fails to inflect, units on rent decline near the roughly 10% rate that UBS expects for 2026, local markets stay soft, interest expense weighs on results, GAAP losses persist or widen, or the market compresses the multiple toward 14x.
WSC AI technical analysis
The WSC AI technical analysis is based on StockAnalysis.com price history and Barchart indicators as of the July 31, 2026 close. WSC pulled back from a late-June high near $29 to $24.28, down 8.93% over the last 20 trading days, and now trades below its 20-day and 50-day moving averages near $26.06 and $26.63. The stock still holds above the 100-day and 200-day moving averages near $23.62 and $22.08, and remains up about 29% year to date. A 14-day RSI near 36.74 and a 14-day ADX near 16.50 with negative directional index above positive directional index point to short-term weakness, so the immediate bias is neutral to cautious.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $24.28 | StockAnalysis.com real-time quote at the July 31, 2026 close; market cap math uses 180.99 million shares outstanding. |
| Resistance R1 | $26.00 to $26.60 | The 20-day moving average near $26.06 and the 50-day moving average near $26.63 form the first overhead supply zone; reclaiming this area would improve the short-term picture. |
| Resistance R2 | $28.80 | The $28.80 average analyst price target and the late-June swing high near $29 mark the next meaningful resistance. |
| Resistance R3 | $30.05 | The 52-week high. A decisive break above this level would mark a new uptrend high. |
| Support S1 | $23.62 | The 100-day moving average. First support on a further pullback from current levels. |
| Support S2 | $22.08 | The 200-day moving average. The key medium-term trend support; losing it would turn the structure bearish. |
| Momentum | RSI near 37 | 14-day RSI near 36.74 and raw stochastic near 14% are weak and approaching oversold; 14-day ADX near 16.50 with -DI above +DI confirms near-term downside pressure. |
| Volume | About 2.0 million average | 20-day average volume near 2.0 million shares, with elevated volume on the down days in late July. |
| Volatility | Elevated | 14-day historical volatility near 40.23% and 100-day near 53.18%, so position sizing should account for large swings. |
| Invalidation | Close below $22 | A daily close below the 200-day moving average near $22.08 would invalidate the medium-term uptrend and open the path toward the $14.91 52-week low area. |
WSC AI trading strategy
The WSC AI trading strategy framework is a reference structure, not personalized advice. WillScot offers opportunities for both trend-following and mean-reversion approaches given its improving commercial demand, strong free cash flow generation, and elevated leverage. Q2 2026 results are scheduled for August 6, 2026, after the data cutoff.
Wait for WSC to reclaim the 20-day and 50-day moving averages near $26.06 to $26.63 with improving volume before treating the pullback as over. A breakout above $28.80 and then $30.05 with above-average volume would confirm a resumption of the uptrend. Re-entry on a pullback to the 100-day moving average near $23.62 within an intact medium-term uptrend.
Stop-loss below the 200-day moving average near $22.08 or 8% below entry, whichever is lower. Reduce position size if VIX is above 20 or 14-day historical volatility stays above 40%.
Accumulate on dips toward the $22.00 to $23.60 support zone if the fundamental thesis is intact (guidance on track, adjusted EBITDA near $915 million, no guidance cuts). Scale into position in thirds. Use a 12 to 18 month horizon targeting the $28.80 analyst consensus.
Hard stop at $21.00, below the 200-day moving average. Core position size limited by the high-debt risk profile and negative GAAP net income.
Use the Verdict table AI confidence and the low-medium investment certainty as portfolio sizing guides. Limit WSC to no more than 3 to 5% of a diversified portfolio given the leverage and cyclicality risk. Note that Q2 2026 results are scheduled for August 6, 2026.
Monitor quarterly leasing revenue, units on rent, adjusted EBITDA margin, and debt reduction. Watch the August 6, 2026 earnings report, refinancing announcements, and interest rate moves. Consider put spreads if the position is large and the stock is below the 50-day moving average.
Investment research summary
WillScot is the largest North American modular space and portable storage rental company. Customers rent mobile offices, classrooms, storage containers, blast-resistant modules, clearspan structures, and fencing for construction, industrial, energy, data center, government, and education use. Revenue comes from leasing, value-added products, and delivery and installation, with Q1 2026 leasing and services revenue of $525 million.
The moat is primarily scale and density: the largest fleet, roughly 250 branch locations, and national account relationships. Local competitors lack the fleet breadth, geographic coverage, and service capability to challenge WillScot on large multi-site projects. Switching costs are low for single-unit rentals, which limits pricing power.
The thesis could fail if: (1) leasing revenue does not inflect positive in the second half of 2026, (2) local market demand stays soft while large project demand slows, (3) interest expense near $202 million a year overwhelms operating cash flow, (4) the company cannot refinance its debt or covenants tighten, or (5) a downturn hits non-residential construction and data center, power, and manufacturing projects.
CEO Tim Boswell and the leadership team beat the Q1 2026 outlook, raised full year guidance to $2.25 billion revenue and $915 million adjusted EBITDA, paid down $76 million of debt, returned $20 million to shareholders, and kept net debt to adjusted EBITDA at 3.7x. The high leverage posture remains the main balance-sheet concern.
Modular space rental is a mature, fragmented industry with secular supports: rent over own preferences, modular construction adoption, and growing demand from data center, power and utility, and diversified manufacturing projects. Cyclical exposure to local non-residential construction, where demand has not yet improved, is the primary risk.
At $24.28 WSC trades at about 21.25x forward earnings and 9.83x free cash flow, which is reasonable for a strong FCF generator, but the 14.03x EV/EBITDA and 3.7x net debt to adjusted EBITDA reflect the leverage. The three-scenario model values WSC between roughly $18 (bearish) and $34 (bullish), with a base case near $26. The margin of safety is modest at the current price given the leverage and cyclicality.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Current price | $24.28 at the July 31, 2026 close, +1.04% on the day | StockAnalysis.com real-time quote | August 3, 2026 |
| Market cap | $4.39 billion, computed as $24.28 x 180.99 million shares outstanding | StockAnalysis.com quote and statistics | August 3, 2026 |
| Enterprise value | $8.19 billion | StockAnalysis.com statistics | August 3, 2026 |
| Shares outstanding | 180.99 million, down 3.52% year over year | StockAnalysis.com statistics | August 3, 2026 |
| 52-week range | $14.91 to $30.05 | StockAnalysis.com quote and history | August 3, 2026 |
| Beta | 1.32 | StockAnalysis.com statistics | August 3, 2026 |
| Forward P/E | 21.25x | StockAnalysis.com statistics | August 3, 2026 |
| P/FCF ratio | 9.83x, with P/OCF at 5.89x | StockAnalysis.com statistics | August 3, 2026 |
| Price-to-sales and price-to-book | PS 1.94x, PB 5.05x | StockAnalysis.com statistics | August 3, 2026 |
| EV/EBITDA | 14.03x, EV/FCF 18.33x, EV/Sales 3.61x | StockAnalysis.com statistics | August 3, 2026 |
| Revenue (TTM) | $2.27 billion, -4.12% growth | StockAnalysis.com statistics and financials | August 3, 2026 |
| Net income (TTM) | -$67.92 million GAAP, EPS -$0.38 | StockAnalysis.com statistics | August 3, 2026 |
| Operating cash flow (TTM) | $746.42 million | StockAnalysis.com cash flow statement | August 3, 2026 |
| Free cash flow (TTM) | $447.10 million on the statistics basis with capex of $299.32 million; $376.02 million on the financials basis with capex of $370.4 million | StockAnalysis.com statistics and financials | August 3, 2026 |
| Cash and cash equivalents | $15.54 million as of March 31, 2026 | WillScot Q1 2026 earnings release and Q1 2026 balance sheet | August 3, 2026 |
| Total debt | $3.51 billion company reported as of March 31, 2026; $3.82 billion including operating leases per StockAnalysis.com | WillScot Q1 2026 earnings release and StockAnalysis.com balance sheet | August 3, 2026 |
| Net debt | $3.50 billion as of March 31, 2026 | WillScot Q1 2026 earnings release | August 3, 2026 |
| Net debt to adjusted EBITDA | 3.7x based on LTM adjusted EBITDA of $953 million | WillScot Q1 2026 earnings release | August 3, 2026 |
| Debt-to-equity | 4.38x | StockAnalysis.com statistics | August 3, 2026 |
| Current ratio | 0.79, with quick ratio 0.62 | StockAnalysis.com statistics | August 3, 2026 |
| Altman Z-Score and Piotroski F-Score | Altman Z-Score 0.97, Piotroski F-Score 4 | StockAnalysis.com statistics | August 3, 2026 |
| Q1 2026 revenue | $548.6 million, -2.0% year over year | WillScot Q1 2026 earnings release | May 7, 2026 |
| Q1 2026 adjusted EBITDA | $211 million at a 38.5% margin | WillScot Q1 2026 earnings release | May 7, 2026 |
| Q1 2026 earnings | Net income $28.1 million GAAP, adjusted net income $38.8 million, diluted EPS $0.15, adjusted diluted EPS $0.21 | WillScot Q1 2026 earnings release | May 7, 2026 |
| Q1 2026 cash flow | Operating cash flow of $191.1 million, adjusted free cash flow of $115.6 million at a 21.1% margin | WillScot Q1 2026 earnings release | May 7, 2026 |
| Q1 2026 leasing revenue | Leasing revenue of $425.5 million, -2.0% year over year, with delivery and installation revenue up 12.3% to $99.5 million on project activations | WillScot Q1 2026 earnings release | May 7, 2026 |
| 2026 full year outlook | Revenue of $2.25 billion, adjusted EBITDA of $915 million, and net capex of $325 million, raised from the February 2026 outlook | WillScot Q1 2026 earnings release | May 7, 2026 |
| Debt maturity and liquidity | Next debt maturity in August 2028, about $1.5 billion of ABL facility availability, weighted average pre-tax interest rate about 5.7%, and estimated annual cash interest expense of about $202 million | WillScot Q1 2026 earnings release | May 7, 2026 |
| Shareholder returns | Repurchased 352,900 shares for $7 million in Q1 2026, a 1.2% reduction in share count over 12 months, and returned $20 million to shareholders in the quarter | WillScot Q1 2026 earnings release | May 7, 2026 |
| Dividend | Quarterly dividend of $0.07 per share, annualized at $0.28 for a 1.15% yield, ex-dividend date June 3, 2026 | StockAnalysis.com dividend page | August 3, 2026 |
| Analyst consensus | Buy with an average target of $28.80 across 10 analysts, low $24 and high $37, median $29 | StockAnalysis.com forecast | July 22, 2026 |
| Analyst rating mix, July 2026 | 3 Strong Buy, 0 Buy, 7 Hold, 0 Sell, 0 Strong Sell out of 10 analysts | StockAnalysis.com forecast recommendation trends | July 22, 2026 |
| Recent analyst target updates | Citi raised to $30 from $27 on July 14 with a Buy rating, UBS at $29 on July 20 with a Hold, William Blair Hold on July 22, Barclays raised to $24 from $22 on May 15 with a Hold, Morgan Stanley at $29 on May 12 with a Hold | StockAnalysis.com forecast and news feed | July 22, 2026 |
| Short interest | 18.42 million shares short, 10.18% of shares outstanding, 10.50% of float, 9.47 days to cover | StockAnalysis.com statistics | August 3, 2026 |
| Consensus estimates | FY2026 revenue $2.26 billion and adjusted EPS $1.10, FY2027 revenue $2.33 billion and adjusted EPS $1.35, with 3-year revenue growth forecast of 2.37% and EPS growth of 14.14% | StockAnalysis.com forecast | July 22, 2026 |
| Technical snapshot | 5-day MA $24.99, 20-day MA $26.06, 50-day MA $26.63, 100-day MA $23.62, 200-day MA $22.08, 14-day RSI 36.74, 14-day ADX 16.50, 14-day historical volatility near 40.23% | Barchart and StockAnalysis.com technical snapshots | August 3, 2026 |
| Next earnings | Q2 2026 results scheduled for August 6, 2026 after market close | StockAnalysis.com quote and WillScot news release | July 23, 2026 |
This page is an informational research tool using AI analysis of publicly available data, not investment advice. All WSC stock analysis, forecast scenarios, technical levels, and trading strategy frameworks are based on data available as of August 3, 2026 and may change. Forecast scenarios are modeled outputs, not guarantees of future performance. Past performance does not guarantee future results. Always conduct your own research and consult a qualified financial advisor before making investment decisions. This content is for informational and educational purposes only.
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