WSO; WSOB · Watsco Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $7.24B | $7.62B | $7.28B | $7.27B | $6.28B | $5.05B |
| Cost of Revenue | $5.21B | $5.57B | $5.29B | $5.24B | $4.61B | $3.83B |
| Gross Profit | $2.03B | $2.04B | $1.99B | $2.03B | $1.67B | $1.22B |
| R&D | - | - | - | - | - | - |
| SG&A | $1.34B | $1.29B | $1.22B | $1.22B | $1.06B | $833.05M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $43.75M | $40.82M | $35.09M | $31.68M | $28.13M | $25.91M |
| Operating Income | $720.35M | $781.77M | $794.81M | $831.58M | $628.53M | $401.03M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $150.09M | $166.90M | $155.75M | $125.72M | $128.80M | $76.62M |
| Net Income | $496.99M | $536.29M | $536.34M | $601.17M | $418.94M | $269.58M |
| EPS - Basic | $12.27 | $13.34 | $13.72 | $15.46 | $10.83 | $7.03 |
| EPS - Diluted | $12.25 | $13.30 | $13.67 | $15.41 | $10.78 | $7.01 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $433.28M | $526.27M | $210.11M | $147.50M | $118.27M | $146.07M |
| Accounts Receivable | $796.18M | $877.93M | $797.83M | $747.11M | $698.46M | $535.29M |
| Inventory | $1.39B | $1.39B | $1.35B | $1.37B | $1.12B | $781.30M |
| Accounts Payable | $350.43M | $490.88M | $369.40M | $456.13M | $364.19M | $251.55M |
| Current Assets | $2.95B | $3.08B | $2.39B | $2.30B | $1.96B | $1.48B |
| Total Assets | $4.41B | $4.48B | $3.73B | $3.49B | $3.09B | $2.48B |
| Current Liabilities | $717.74M | $983.90M | $712.01M | $906.52M | $726.72M | $487.14M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $2.78B | $2.66B | $2.23B | $1.89B | $1.66B | $1.49B |
| Retained Earnings | $1.32B | $1.30B | $1.18B | $1.03B | $760.80M | $636.37M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $569.61M | $773.10M | $561.95M | $571.96M | $349.57M | $534.38M |
| Investing Cash Flow | ($98.12M) | ($290.67M) | ($41.34M) | ($33.84M) | ($148.58M) | ($16.34M) |
| Financing Cash Flow | ($568.12M) | ($158.53M) | ($460.08M) | ($503.96M) | ($228.60M) | ($448.49M) |
| CapEx | $34.55M | $30.09M | $35.48M | $35.65M | $25.46M | $16.44M |
| Free Cash Flow | $535.06M | $743.01M | $526.48M | $536.31M | $324.10M | $517.94M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 28.0% | 26.8% | 27.4% | 27.9% | 26.6% | 24.2% |
| Operating margin | 10.0% | 10.3% | 10.9% | 11.4% | 10.0% | 7.9% |
| EBITDA margin | 10.6% | 10.8% | 11.4% | 11.9% | 10.5% | 8.4% |
| Net margin | 6.9% | 7.0% | 7.4% | 8.3% | 6.7% | 5.3% |
| Free cash flow margin | 7.4% | 9.8% | 7.2% | 7.4% | 5.2% | 10.2% |
| FCF / Net income | 1.08 | 1.39 | 0.98 | 0.89 | 0.77 | 1.92 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 18.5% | 17.0% | 16.8% | 16.8% | 16.9% | 16.5% |
| Effective tax rate | 23.2% | 23.7% | 22.5% | 17.3% | 23.5% | 22.1% |
| Return on assets | 11.3% | 12.0% | 14.4% | 17.2% | 13.6% | 10.9% |
| Return on equity | 17.9% | 20.2% | 24.1% | 31.8% | 25.2% | 18.1% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 4.12 | 3.13 | 3.36 | 2.54 | 2.70 | 3.05 |
| Quick ratio | 2.18 | 1.72 | 1.47 | 1.02 | 1.16 | 1.44 |
| Cash ratio | 0.60 | 0.53 | 0.30 | 0.16 | 0.16 | 0.30 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.59 | 1.69 | 1.67 | 1.85 | 1.85 | 1.67 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 1.64 | 1.70 | 1.95 | 2.09 | 2.04 | 2.03 |
| Inventory turnover | 3.76 | 4.02 | 3.93 | 3.83 | 4.14 | 4.90 |
| Days sales outstanding | 40d | 42d | 40d | 37d | 41d | 39d |
| Days inventory outstanding | 97d | 91d | 93d | 95d | 88d | 74d |
| Days payable outstanding | 25d | 32d | 25d | 32d | 29d | 24d |
| Cash conversion cycle | 113d | 101d | 107d | 101d | 100d | 89d |
| Valuation | ||||||
| P / E | 27.5x | 35.6x | 31.3x | 16.2x | 29.0x | 32.3x |
| P / B | 4.5x | - | - | - | 6.7x | 5.4x |
| P / S | 1.7x | - | - | - | 1.8x | 1.6x |
| EV / EBITDA | 16.0x | - | - | - | 16.7x | 18.3x |
| Growth | ||||||
| Revenue growth (YoY) | -5.0% | 4.6% | 0.1% | 15.8% | 24.2% | 6.0% |
| Revenue CAGR (3y) | -0.2% | 6.7% | 12.9% | 15.1% | 11.4% | 5.2% |
| Revenue CAGR (5y) | 7.4% | 9.8% | 9.9% | 10.9% | 8.3% | 4.2% |
| Gross profit growth (YoY) | -0.7% | 2.6% | -1.9% | 21.8% | 36.4% | 5.7% |
| Operating income growth (YoY) | -7.9% | -1.6% | -4.4% | 32.3% | 56.7% | 9.3% |
| Net income growth (YoY) | -7.3% | -0.0% | -10.8% | 43.5% | 55.4% | 9.6% |
| EPS growth (YoY) | -7.9% | -2.7% | -11.3% | 42.9% | 53.8% | 7.8% |
| EPS CAGR (3y) | -7.4% | 7.3% | 24.9% | 33.3% | 18.4% | 6.5% |
| EPS CAGR (5y) | 11.8% | 15.4% | 16.1% | 21.5% | 15.9% | 7.4% |
| FCF growth (YoY) | -28.0% | 41.1% | -1.8% | 65.5% | -37.4% | 62.9% |
| FCF CAGR (5y) | 0.7% | 18.5% | 14.8% | 13.2% | 6.7% | 21.2% |
| Book value growth (YoY) | 4.7% | 19.2% | 18.0% | 13.5% | 12.0% | 3.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$7.24B totalUS$6.56B · 90.6%
Latin America And Caribbean$344.26M · 4.8%
CA$338.11M · 4.7%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Wholesale-Hardware & Plumbing & Heating Equipment & Supplies
Comparing WATSCO INC against the 2 most active filers in the same SIC group.
Dividends
$12.30/share trailing 12 months · +10.8% YoY
| Ex-date | Per share |
|---|---|
| Apr 16, 2026 | $3.3000 |
| Jan 16, 2026 | $3.0000 |
| Oct 16, 2025 | $3.0000 |
| Jul 16, 2025 | $3.0000 |
| Apr 15, 2025 | $3.0000 |
| Jan 17, 2025 | $2.7000 |
| Oct 16, 2024 | $2.7000 |
| Jul 16, 2024 | $2.7000 |
| Apr 12, 2024 | $2.7000 |
| Jan 16, 2024 | $2.4500 |
| Oct 16, 2023 | $2.4500 |
| Jul 14, 2023 | $2.4500 |
| Apr 14, 2023 | $2.4500 |
| Jan 13, 2023 | $2.4500 |
| Oct 14, 2022 | $2.2000 |
| Jul 14, 2022 | $2.2000 |
| Apr 13, 2022 | $2.2000 |
| Jan 13, 2022 | $1.9500 |
| Oct 14, 2021 | $1.9500 |
| Jul 14, 2021 | $1.9500 |
| Apr 14, 2021 | $1.9500 |
| Jan 14, 2021 | $1.7750 |
| Oct 14, 2020 | $1.7750 |
| Jul 15, 2020 | $1.7750 |