Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

WillScot Holdings Corporation (WSC)

Company Dividend Discount ModelIndustry: Rental & Leasing ServicesSector: Industrials

Valuation Snapshot

Stable Growth$64.05 - $241.05$189.11
Multi-Stage$29.65 - $32.46$31.03
Blended Fair Value$110.07
Current Price$21.11
Upside421.41%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.00%0.00%0.000.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)223.54
(-) Cash Dividends Paid (M)38.37
(=) Cash Retained (M)185.17
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)44.7127.9416.77
Cash Retained (M)185.17185.17185.17
(-) Cash Required (M)-44.71-27.94-16.77
(=) Excess Retained (M)140.46157.23168.41
(/) Shares Outstanding (M)184.43184.43184.43
(=) Excess Retained per Share0.760.850.91
LTM Dividend per Share0.210.210.21
(+) Excess Retained per Share0.760.850.91
(=) Adjusted Dividend0.971.061.12
WACC / Discount Rate7.10%7.10%7.10%
Growth Rate5.50%6.50%7.50%
Fair Value$64.05$189.11$241.05
Upside / Downside203.39%795.85%1,041.87%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)223.54238.07253.55270.03287.58306.27315.46
Payout Ratio17.16%31.73%46.30%60.87%75.43%90.00%92.50%
Projected Dividends (M)38.3775.54117.39164.35216.93275.64291.80

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.10%7.10%7.10%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)69.8770.5471.20
Year 2 PV (M)100.43102.34104.28
Year 3 PV (M)130.06133.80137.60
Year 4 PV (M)158.79164.89171.17
Year 5 PV (M)186.63195.64205.00
PV of Terminal Value (M)4,821.855,054.755,296.56
Equity Value (M)5,467.635,721.965,985.81
Shares Outstanding (M)184.43184.43184.43
Fair Value$29.65$31.03$32.46
Upside / Downside40.44%46.97%53.75%

High-Yield Dividend Screener

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