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Herc vs WillScot: revenue, profit, margins and growth compared

Herc brought in $4.4B of revenue in fiscal 2025, WillScot $2.3B in fiscal 2025. Revenue changed by +22.6% at Herc and -4.8% at WillScot on the year before, so Herc grew faster. Herc kept 0.0% of its revenue as net profit, WillScot -2.3%. Free cash flow was $928M at Herc and $737.7M at WillScot.

Side by side, latest fiscal year

HRIWSC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.4B$2.3B
Revenue growth+22.6%-4.8%
Net income$1M-$53M
Net margin0.0%-2.3%
Free cash flow$928M$737.7M
Free cash flow margin21.2%32.3%
Earnings per share (diluted)$0.03-$0.29
Cash$52M$14.6M
Debt$8B$3.6B
Price to earnings4512.0n/a
Market value$4.5B$3.3B
Dividend yield2.07%n/a
Rank by revenue in sector#133 of 451 · Industrials#208 of 451 · Industrials

Over the years

Revenue
HRI FY2018: $2BHRI FY2019: $2BHRI FY2020: $1.8BHRI FY2021: $2.1BHRI FY2022: $2.7BHRI FY2023: $3.3BHRI FY2024: $3.6BHRI FY2025: $4.4BWSC FY2018: $751.4MWSC FY2019: $1.1BWSC FY2020: $1.3BWSC FY2021: $1.7BWSC FY2022: $2.1BWSC FY2023: $2.4BWSC FY2024: $2.4BWSC FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
HRI $4.4BWSC $2.3B
Net income
HRI FY2018: $69.1MHRI FY2019: $47.5MHRI FY2020: $73.7MHRI FY2021: $224MHRI FY2022: $330MHRI FY2023: $347MHRI FY2024: $211MHRI FY2025: $1MWSC FY2018: -$25.2MWSC FY2019: -$11.1MWSC FY2020: $74MWSC FY2021: $160.1MWSC FY2022: $339.5MWSC FY2023: $476.5MWSC FY2024: $28.1MWSC FY2025: -$53MFY18FY19FY20FY21FY22FY23FY24FY25
HRI $1MWSC -$53M
Net margin
HRI FY2018: 3.5%HRI FY2019: 2.4%HRI FY2020: 4.1%HRI FY2021: 10.8%HRI FY2022: 12.0%HRI FY2023: 10.6%HRI FY2024: 5.9%HRI FY2025: 0.0%WSC FY2018: -3.4%WSC FY2019: -1.0%WSC FY2020: 5.8%WSC FY2021: 9.6%WSC FY2022: 15.8%WSC FY2023: 20.1%WSC FY2024: 1.2%WSC FY2025: -2.3%FY18FY19FY20FY21FY22FY23FY24FY25
HRI 0.0%WSC -2.3%
Revenue growth
HRI FY2019: +1.1%HRI FY2020: -10.9%HRI FY2021: +16.4%HRI FY2022: +32.2%HRI FY2023: +19.8%HRI FY2024: +8.7%HRI FY2025: +22.6%WSC FY2019: +41.6%WSC FY2020: +19.7%WSC FY2021: +31.4%WSC FY2022: +28.1%WSC FY2023: +10.4%WSC FY2024: +1.3%WSC FY2025: -4.8%FY19FY20FY21FY22FY23FY24FY25
HRI +22.6%WSC -4.8%
Free cash flow
HRI FY2018: $481.5MHRI FY2019: $578.7MHRI FY2020: $569.5MHRI FY2021: $696MHRI FY2022: $813MHRI FY2023: $930MHRI FY2024: $1.1BHRI FY2025: $928MWSC FY2018: $32.5MWSC FY2019: $164.2MWSC FY2020: $288.4MWSC FY2021: $509.4MWSC FY2022: $701MWSC FY2023: $739MWSC FY2024: $543.2MWSC FY2025: $737.7MFY18FY19FY20FY21FY22FY23FY24FY25
HRI $928MWSC $737.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Herc and WillScot

Which is bigger by revenue, Herc or WillScot?

Herc is bigger by revenue: $4.4B in fiscal 2025, against $2.3B for WillScot in fiscal 2025.

Which keeps more of its revenue as profit, Herc or WillScot?

Herc had a net margin of 0.0% in fiscal 2025; WillScot had -2.3% in fiscal 2025.

Which grew revenue faster, Herc or WillScot?

In their latest fiscal years revenue changed by +22.6% at Herc and -4.8% at WillScot.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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