WillScot Holdings (WSC) FY2021 results: revenue $1.7 billion, up 31.4% on the year
WillScot Holdings Corp. (WSC) reported revenue of $1.7 billion for fiscal 2021, the year ended 31 December 2021, up 31.4% on the year before. Net income was $160 million, up 116.0%, and diluted earnings per share $0.69. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$1.7 billion
+31.4% on the year
FY2015FY2021
Operating margin
18.0%
12.7% a year earlier
FY2015FY2021
Net income
$160 million
+116.0% on the year
FY2015FY2021
Diluted EPS
$0.69
+68.3% on the year
FY2015FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
540
305
173
+77.1%
Capital expenditure
30.5
16.5
8.3
+85.4%
Free cash flow
509
288
164
+76.7%
Free cash flow margin
30.4%
22.7%
15.4%
Cash from investing
-384
-125
-153
Cash from financing
-168
-159
-26.1
Depreciation and amortisation
61.8
35.2
12.4
+75.6%
Share-based compensation
26.2
9.9
6.7
+165.0%
Diluted shares, weighted
233m
174m
109m
+34.1%
Shares outstanding at period end
224m
229m
n/a
-2.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,997
2,064
491
-3.3%
Non-controlling interest
n/a
0.0
64.6
Debt
2,672
2,470
1,633
+8.2%
Operating lease liabilities
170
184
118
-7.6%
Other liabilities
935
854
591
+9.5%
Total liabilities and equity
5,774
5,572
2,898
+3.6%
Fixed assets
312
304
n/a
+2.8%
Goodwill
1,014
962
235
+5.3%
Intangible assets
443
496
127
-10.7%
Cash and equivalents
6.4
24.9
3.0
-74.4%
Receivables
351
331
248
+6.1%
Inventory
29.8
23.7
15.4
+25.6%
Other assets
3,617
3,431
2,270
+5.4%
Total assets
5,774
5,572
2,898
+3.6%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.