WSC (WSC) financial statements
WSC reported revenue of $2.3B in fiscal 2025, up 20.5% a year over 9 years.
Net income was -$53M and the operating margin 8.0%, against -0.7% in 2016.
Free cash flow was $738M, and the company returned $51M in dividends.
The diluted share count rose 192% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WSC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $427M | $446M | $751M | $1.1B | $1.3B | $1.7B | $2.1B | $2.4B | $2.4B | $2.3B |
| Cost of revenue | $75M | $85M | — | — | — | — | — | — | — | — |
| Gross profit | $168M | $166M | $289M | $413M | $608M | $845M | $1.1B | $1.3B | $1.3B | $1.2B |
| Selling, general and admin | $139M | $162M | $235M | $271M | $338M | $480M | $567M | $596M | $631M | $582M |
| Operating income | -$3M | -$58M | $6M | $118M | $162M | $300M | $511M | $673M | $264M | $181M |
| Interest expense | $95M | $119M | $98M | $123M | $119M | $116M | $146M | $205M | — | — |
| Pre-tax income | -$88M | -$165M | -$68M | -$123M | $4M | $151M | $365M | $468M | $37M | -$55M |
| Income tax | -$25M | -$936,000 | -$39M | -$2M | -$51M | $50M | $89M | $127M | $8M | -$2M |
| Net income | -$31M | -$148M | -$25M | -$11M | $74M | $160M | $340M | $476M | $28M | -$53M |
| EPS (diluted) | $0.01 | -$7.47 | -$0.53 | -$1.11 | $0.25 | $0.69 | $1.53 | $2.36 | $0.15 | -$0.29 |
| Diluted shares | 62M | 20M | 89M | 109M | 177M | 233M | 221M | 202M | 190M | 182M |
| Gross margin | 39.4% | 37.1% | 38.5% | 38.9% | 47.8% | 50.5% | 53.0% | 56.4% | 54.3% | 51.0% |
| Operating margin | -0.7% | -13.1% | 0.8% | 11.0% | 12.7% | 18.0% | 23.9% | 28.5% | 11.0% | 8.0% |
| Net margin | -7.3% | -33.1% | -3.4% | -1.0% | 5.8% | 9.6% | 15.8% | 20.1% | 1.2% | -2.3% |
Balance sheet
Fiscal years, from WSC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6M | $9M | $9M | $3M | $25M | $13M | $7M | $11M | $9M | $15M |
| Receivables | $71M | $95M | $207M | $248M | $331M | $351M | $410M | $451M | $430M | $395M |
| Inventory | $9M | $10M | $16M | $15M | $24M | $30M | $41M | $47M | $47M | $46M |
| Total current assets | $138M | $128M | $256M | $293M | $422M | $483M | $521M | $569M | $558M | $525M |
| Property, plant and equipment | $84M | $84M | $184M | — | $304M | $258M | $305M | $341M | $363M | $390M |
| Goodwill | $57M | $29M | $247M | $235M | $962M | $1.0B | $1.0B | $1.2B | $1.2B | $1.3B |
| Total assets | $1.7B | $1.4B | $2.8B | $2.9B | $5.6B | $5.8B | $5.8B | $6.1B | $6.0B | $5.8B |
| Total current liabilities | $173M | $156M | $269M | $320M | $449M | $518M | $562M | $562M | $585M | $611M |
| Long-term debt | $656M | $625M | $1.7B | $1.6B | $2.5B | $2.7B | $3.1B | $3.5B | $3.7B | $3.6B |
| Total liabilities | $1.7B | $926M | $2.1B | $2.3B | $3.5B | $3.8B | $4.3B | $4.9B | $5.0B | $5.0B |
| Shareholders' equity | $23M | $436M | $638M | $491M | $2.1B | $2.0B | $1.6B | $1.3B | $1.0B | $856M |
| Net debt | $650M | $616M | $1.7B | $1.6B | $2.4B | $2.7B | $3.1B | $3.5B | $3.7B | $3.5B |
Cash flow
Fiscal years, from WSC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $59M | -$1M | $37M | $173M | $305M | $540M | $745M | $761M | $562M | $762M |
| Capital spending | $2M | $4M | $5M | $8M | $16M | $30M | $44M | $22M | $18M | $24M |
| Free cash flow | $56M | -$6M | $33M | $164M | $288M | $509M | $701M | $739M | $543M | $738M |
| Stock-based compensation | $0 | $3M | $3M | $7M | $10M | $26M | $30M | $34M | $36M | $38M |
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $51M |
| Net borrowing | — | — | $1.1B | -$16M | -$22M | $216M | $376M | $436M | $121M | -$146M |
| Free cash flow margin | 13.2% | -1.3% | 4.3% | 15.4% | 22.7% | 30.4% | 32.7% | 31.3% | 22.7% | 32.3% |
| Dividends per share | — | — | — | — | — | — | — | — | — | $0.28 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for WSC.
Open WSC in InvestinglyQuestions
What was WSC's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does WSC generate?
$738M in fiscal 2025 (operating cash flow minus capital spending).
From WSC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.