Keith Dalrymple of Dalrymple Finance visits Zer0esTV to present his short thesis on Willscot Mobile Mini (WSC). In Keith’s view, Willscot’s ‘special sauce’ of a business model is nothing more than chronic underinvestment in its fleet assets. Based on extensive research, Keith believes a portion of Willscot’s modular space fleet is unrentable, which contributes to its industry-trailing utilization rates. With its eyes set on acquiring the largest remaining independent competitor, and management’s forecasted de-leveraging plans, there appears to be little-to-no cash available to continue its share buyback binge.
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