The acquisition is seen as a strategic move by Willscot Mobile Mini to capitalize on the growing business demand for rental units, and is part of a broader trend of consolidation in the industrial sector driven by increased infrastructure spending.
WillScot Mobile Mini's myriad growth markers and significant insider ownership suggest an upbeat view, indicating it to be a worthy option for investors. Despite strong EPS growth and fiscal upliftment, the 1 identified warning sign should be noted by investors.
The procurement of 616GC aids the company's quest for turnkey space solutions, promising opportunities for value-based pricing, expansion of Essentials, and enhanced scale efficiencies for 616GC. Clearspan structures addition could boost competitive edge and market position.
The company's acquisition of 616GC is seen as a strategic move towards offering turnkey space solutions and could boost its competitive advantage and market position by integrating clearspan structures into the portfolio.
WillScot股票討論區
新增數據:23Q3,23Q4,營收、營業利潤繼續增長,淨利潤受利息費用大幅提升以及所得稅影響反而有所萎縮。
2023年營收增長10.4%,營業利潤增長32.8%,淨利潤增長40.3%,利息費用佔營業利潤的30%,負擔很重。
資產負債率從73.1%提高到79.5%,總資產從42.6億提升到48.8億,資產端主要是固定資產的增長,負債端長期借款從30.6億提高到35.4億,是12.61億淨資產的近3倍,同時商譽也有16億。
好在現金流經營淨額仍然高於投資淨額一倍以上,股東盈餘比較多。
目前市盈率18.6,和增速比仍有一定折扣,仍可謹慎選擇(⭐️)
2023上半年營收增長17.8%,營業利潤增長66%,淨利潤增長65.4%,如果加上停止經營利潤的話,淨利潤增長了1.4倍。
資產負債表顯示流動資產絕大部分都在應收部分,佔流動資產的8成,2020年的一次收購讓商譽從3.62億提高到16.67億,儘管一直減值,目前商譽及其他無形資產14.19億,和14.39億的淨資產相當。
長期借款30.36億,負擔相當重。
除2018年斥巨資購入固定資產外,之後4年的現金流經營淨額都超過投資淨額。
目前市盈率26.6,市盈率TTM降到16.9,和增速比有一定折扣,考慮到過高的負債率,可以謹慎選擇(⭐️)
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