WillScot Q4 Revenue $566M, Adjusted EBITDA $250M, Declares $0.07 Dividend
WillScot’s Q4 2025 revenue reached $566 million with $250 million adjusted EBITDA and $91 million free cash flow, funding $41 million of debt paydown and $30 million in shareholder returns. The order book rose over 10%, the company took a $302 million restructuring charge and declared a $0.07/share dividend.
1. Q4 2025 Financial Results
WillScot reported Q4 2025 revenue of $566 million, adjusted EBITDA of $250 million (44.2% margin) and a net loss of $187 million. The quarter yielded $91 million of free cash flow, supported a 28.1% operating cash margin and saw leasing revenues of $437 million.
2. Full-Year 2025 Performance and Capital Returns
For the full year 2025, revenue totaled $2.28 billion with adjusted EBITDA of $971 million and adjusted net income of $219 million. The company paid down $146 million of debt and returned $151 million to shareholders through share repurchases and dividends.
3. Operational Highlights and Network Optimization
Modular activations rose 3% year-over-year in Q4 and the pending order book grew over 10% entering 2026. WillScot initiated a network optimization plan, recording a $302 million non-cash restructuring charge to accelerate real estate and equipment retirements.
4. Dividend Declaration
The board declared a quarterly cash dividend of $0.07 per share, payable March 18, 2026, to shareholders of record by the close on March 4, 2026.