WSC (WillScot Holdings) Predictability Rank

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What is WillScot Holdings Predictability Rank?

Not Rated

Warren Buffett said many times that the companies he likes are:

1. Simple businesses that he understands
2. that have predictable and proven earnings and
3. with economic moat
4. those can be bought at a reasonable price.

It is hard to quantify "simple businesses that he (Buffett) understands", so we will focus on the other three characteristics instead. In GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank, we will show that the businesses that have predictable and proven earnings are usually also simple businesses that an average person could understand.

GuruFocus conducted a back test study of Warren Buffett's strategy of "buying good companies at fair prices" for the years from 1998-2008.

WillScot Holdings Predictability Rank Calculation

In our database there are 2403 stocks that have been traded from Jan. 2, 1998 to Aug. 31, 2008. We have the complete 10-year financial data and trading prices of these companies for this period. We rank the predictability of these companies based on the consistency of their revenue per share and EBITDA (earning before interest, tax, depreciation and amortization) per share over the past ten fiscal years, and study the correlation between the stock performances and the predictability of the business.

Our study may be subject to these biases and assumptions:

Dividend yields are not counted for investment returns
Effects of price changes due to spin-offs may not be fully adjusted
Study is subjected to survivorship bias due to de-listing, bankruptcy, LBO, M&A, etc.

The correlation between business predictability and investment returns of a company is showed below.

Correlation Between Business Predictability and Investment Returns

	Predictables	Non-Predictable	All stocks
Total Number of stocks	570	1833	2403
Total Lost Money	61	830	891
Total Lost More Than 50%	18	412	430
Total Lost More Than 90%	4	86	90
Average Gain	260.6%	100.0%	138.1%
Median Gain	150.0%	13.0%	39.0%
Maximum Gain	2852.0%	11483.0%	11483.0%
Maximum Loss	-100.0%	-100.0%	-100.0%
Annualized Average Gain	12.7%	6.7%	8.4%
Annualized Median Gain	8.9%	1.1%	3.1%

For the 570 predictable companies, we have seen strong correlation between the predictability of businesses and the stock performances over the past 10 years, regardless of the valuation of business at 1998. Accordingly, we have ranked the business predictability from 5-star to 1-star, as shown in this table.

Predictability Rank	5-Star	4.5-Star	4-Star	3.5-Star	3-Star	2.5-Star	2-Star	1-Star (non-predictable)	Average among all
% Out of All 2403 Stocks	3.3%	2.9%	3.7%	3.3%	3.3%	3.7%	3.3%	76.3%	100%
% that are in Loss (10y)	3%	10%	8%	9%	11%	18%	16%	45%	37%
Average Gain (10y)	364.6%	330.9%	278.0%	235.1%	243.5%	227.8%	154.8%	100.0%	138.1%
Median Gain (10y)	238.5%	193.5%	171.0%	159.0%	132.5%	113.5%	87.0%	13.0%	39.0%
Maximum Gainer	2228.0%	2547.0%	2452.0%	2852.0%	2432.0%	1892.0%	1807.0%	11483.0%	11483.0%
Maximum Loser	-82.0%	-53.0%	-67.0%	-100.0%	-83.0%	-100.0%	-78.0%	-100.0%	-100.0%
Annualized Average Gain	15.4%	14.6%	13.2%	12.0%	12.2%	11.7%	9.1%	6.7%	8.4%
Annualized Median Gain	12.1%	10.6%	9.8%	9.3%	8.2%	7.3%	6.0%	1.1%	3.1%

For detailed information about each predictability rank, please go to GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank

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WillScot Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » WillScot Holdings Corp (NAS:WSC) » Definitions » Predictability Rank

Comparable Companies

Traded in Other Exchanges

WS11:Germany

Address

4646 East Van Buren Street, Suite 400, Phoenix, AZ, USA, 85008

Website

https://www.willscotmobilemini.com

WillScot Holdings Corp designs, delivers, and services onsite, on-demand space solutions for clients. The company offers turnkey solutions in construction, education, manufacturing, retail, healthcare, and entertainment sectors. The products of the company includes modular office complexes, mobile offices, portable storage containers, and others.

Executives

Gerard E Holthaus	director	3129 BLENDON ROAD, OWINGS MILLS MD 21117
Sally J Shanks	officer: Chief Accounting Officer	901 S. BOND STREET, SUITE 600, BALTIMORE MD 21231
Jeffrey Sagansky	director, 10 percent owner, officer: President & CEO	1450 2ND STREET, SUITE 247, SANTA MONICA CA 90401
Timothy D Boswell	officer: Chief Financial Officer	901 S. BOND STREET, 6TH FLOOR, BALTIMORE MD 21231
Erik Olsson	director	C/O RSC HOLDINGS INC., 6929 E. GREENWAY PARKWAY, SCOTTSDALE AZ 85254
Bradley Lee Soultz	director, officer: Chief Executive Officer	901 S. BOND STREET, SUITE 600, BALTIMORE MD 21231
Hezron T. Lopez	officer: V.P.,Gen Counsel, Corp. Sec.	855 EAST MAIN AVE, ZEELAND MI 49464
Natalia Johnson	director	C/O PUBLIC STORAGE, 701 WESTERN AVENUE, GLENDALE CA 91201
Felicia Gorcyca	officer: Chief Human Resources Officer	4800 N. SCOTTSDALE ROAD, SUITE 6000, SCOTTSDALE AZ 85251
Erika T Davis	director
Graeme Parkes	officer: Chief Information Officer	4646 E. VAN BUREN STREET, SUITE 400, PHOENIX AZ 85008
Rebecca L Owen	director	1750 H STREET, SUITE 500, COLUMBIA EQUITY TRUST, INC., WASHINGTON DC 20006
Christopher J Miner	officer: SVP, GC & Secretary	7420 SOUTH KYRENE ROAD SUITE 101, TEMPE AZ 85253
Michael W Upchurch	director	KANSAS CITY SOUTHERN, PO BOX 219335, KANSAS CITY MO 64121
Sapphire Holding S.a R.l.	10 percent owner	C/O TDR CAPITAL LLP, 20 BENTINCK STREET, LONDON X0 W1U 2EU