Watsco, Inc.(WSO)Earnings, Financials & Key Ratios

WSO•NYSE

$420.68

$17.1B mkt cap·34.3× P/E·Price updated May 6, 2026

SectorIndustrials IndustryIndustrial Distribution Sub-IndustryConstruction and Building Products Distribution

AboutWatsco, Inc., together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment. It also offers parts, including replacement compressors, evaporator coils, motors, and other component parts; and supplies, such as thermostats, insulation materials, refrigerants, ductworks, grills, registers, sheet metals, tools, copper tubing, concrete pads, tapes, adhesives, and other ancillary supplies, as well as plumbing and bathroom remodeling supplies. The company serves contractors and dealers that service the replacement and new construction markets for residential and light commercial central air conditioning, heating, and refrigeration systems. As of December 31, 2021, it operated from 671 locations in the United States, Canada, Mexico, and Puerto Rico, as well as exports its products to Latin America and the Caribbean Basin. Watsco, Inc. was founded in 1945 and is headquartered in Miami, Florida.Show more

Revenue$7.24B-5.0%
EBITDA$736M-10.5%
Net Income$497M-7.3%
EPS (Diluted)12.25-7.9%
Gross Margin28.05%+4.5%
EBITDA Margin10.17%-5.8%
Operating Margin9.57%-6.8%
Net Margin6.87%-2.5%
ROE15.81%-16.3%
ROIC16.61%-16.5%
Debt/Equity0.15+1.8%

Analysis→Technical→

WSO Key Insights

Watsco, Inc. (WSO) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓12 consecutive years of dividend growth
✓Good 3Y average ROE of 18.9%
✓Healthy dividend yield of 3.0%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

WSO Price & Volume

Watsco, Inc. (WSO) stock price & volume — 10-year historical chart

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WSO Growth Metrics

Watsco, Inc. (WSO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.82%

5 Years7.45%

3 Years-0.16%

TTM-4.52%

Profit CAGR

10 Years11.13%

5 Years13.01%

3 Years-6.15%

TTM-6.3%

EPS CAGR

10 Years10.51%

5 Years11.81%

3 Years-7.36%

TTM-7.52%

Return on Capital

10 Years23.85%

5 Years26.75%

3 Years23.74%

Last Year19.01%

WSO Recent Earnings

Watsco, Inc. (WSO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 3/12 qtrs (25%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

Apr 28, 2026

EPS

$1.87

Est $1.73

+8.1%

Revenue

$1.5B

Est $1.5B

+3.1%

Q1 2026

Feb 17, 2026

EPS

$1.68

Est $1.88

-10.6%

Revenue

$1.6B

Est $1.6B

-2.4%

Q4 2025

Oct 29, 2025

EPS

$3.98

Est $4.44

-10.4%

Revenue

$2.1B

Est $2.2B

-4.5%

Q3 2025

Jul 30, 2025

EPS

$4.52

Est $4.78

-5.4%

Revenue

$2.1B

Est $2.2B

-7.3%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 28, 2026	$1.87vs $1.73+8.1%	$1.5Bvs $1.5B+3.1%
Q1 2026	Feb 17, 2026	$1.68vs $1.88-10.6%	$1.6Bvs $1.6B-2.4%
Q4 2025	Oct 29, 2025	$3.98vs $4.44-10.4%	$2.1Bvs $2.2B-4.5%
Q3 2025	Jul 30, 2025	$4.52vs $4.78-5.4%	$2.1Bvs $2.2B-7.3%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	FCF Yield	Debt / Equity
GWWW.W. Grainger, Inc.Direct Competitor	53.96B	1134.78	32.06	4.51%	9.51%	41.2%	2.47%	0.76
MSMMSC Industrial Direct Co., Inc.Direct Competitor	5.75B	103.01	28.85	-1.35%	5.37%	14.79%	4.19%	0.39
FASTFastenal CompanyDirect Competitor	50.89B	44.33	40.67	8.67%	15.35%	31.91%	2.06%	0.11
IBPInstalled Building Products, Inc.Product Competitor	7.61B	282.37	29.08	1%	8.93%	39.12%	3.95%	1.48
BLDRBuilders FirstSource, Inc.Product Competitor	8.25B	74.56	19.17	-7.38%	1.97%	6.92%	10.35%	1.30
POOLPool CorporationProduct Competitor	6.86B	187.04	17.24	-0.41%	7.58%	32.17%	4.51%	0.29
CARRCarrier Global CorporationSupply Chain	53.62B	64.18	37.75	-3.29%	6.03%	9.13%	3.16%	0.90
TTTrane Technologies plcSupply Chain	105.67B	477.45	36.78	7.48%	13.42%	34.69%	2.66%	0.54

Compare WSO vs Peers

Watsco, Inc. (WSO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs GWW

Most directly comparable listed peer for WSO.

Scale Benchmark

vs HD

Larger-name benchmark to compare WSO against a more recognizable public peer.

Peer Set

Compare Top 5

vs GWW, MSM, FAST, IBP

WSO Income Statement

Watsco, Inc. (WSO) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	4.34B	4.55B	4.77B	5.05B	6.28B	7.27B	7.28B	7.62B	7.24B	7.24B
Revenue Growth %	2.87%	4.71%	4.92%	5.97%	24.24%	15.83%	0.13%	4.59%	-4.98%	-4.52%
Cost of Goods Sold	3.28B	3.43B	3.61B	3.83B	4.61B	5.24B	5.29B	5.57B	5.21B	5.19B
COGS % of Revenue	75.46%	75.36%	75.75%	75.81%	73.45%	72.09%	72.65%	73.16%	71.95%	-
Gross Profit	1.07B▲ 0%	1.12B▲ 5.1%	1.16B▲ 3.3%	1.22B▲ 5.7%	1.67B▲ 36.4%	2.03B▲ 21.8%	1.99B▼ 1.9%	2.04B▲ 2.6%	2.03B▼ 0.7%	2.05B▲ 0%
Gross Margin %	24.54%	24.64%	24.25%	24.19%	26.55%	27.91%	27.35%	26.84%	28.05%	28.37%
Gross Profit Growth %	3%	5.12%	3.28%	5.69%	36.37%	21.75%	-1.88%	2.64%	-0.7%	-
Operating Expenses	711.78M	748.17M	790.07M	821.79M	1.04B	1.2B	1.2B	1.26B	1.34B	1.34B
OpEx % of Revenue	16.39%	16.46%	16.56%	16.26%	16.54%	16.48%	16.44%	16.58%	18.48%	-
Selling, General & Admin	715.67M	757.45M	800.33M	833.05M	1.06B	1.22B	1.22B	1.26B	1.34B	1.34B
SG&A % of Revenue	16.48%	16.66%	16.78%	16.48%	16.85%	16.79%	16.8%	16.48%	18.48%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-3.89M	-9.28M	-10.26M	-11.26M	-19.3M	-22.67M	-26.18M	7.09M	0	-1000K
Operating Income	353.87M▲ 0%	372.08M▲ 5.1%	366.88M▼ 1.4%	401.03M▲ 9.3%	628.53M▲ 56.7%	831.58M▲ 32.3%	794.81M▼ 4.4%	781.77M▼ 1.6%	692.58M▼ 11.4%	712.61M▲ 0%
Operating Margin %	8.15%	8.18%	7.69%	7.93%	10.01%	11.43%	10.91%	10.26%	9.57%	9.84%
Operating Income Growth %	2.38%	5.15%	-1.4%	9.31%	56.73%	32.31%	-4.42%	-1.64%	-11.41%	-
EBITDA	375.91M	394.18M	391.4M	426.94M	656.65M	863.26M	829.9M	822.6M	736.33M	756.6M
EBITDA Margin %	8.66%	8.67%	8.2%	8.45%	10.46%	11.87%	11.39%	10.8%	10.17%	10.45%
EBITDA Growth %	2.79%	4.86%	-0.71%	9.08%	53.8%	31.46%	-3.86%	-0.88%	-10.49%	-6.49%
D&A (Non-Cash Add-back)	22.03M	22.09M	24.51M	25.91M	28.13M	31.68M	35.09M	40.82M	43.75M	43.99M
EBIT	353.87M	372.08M	366.88M	401.03M	628.53M	808.91M	768.63M	751.27M	737.68M	734.38M
Net Interest Income	-6.36M	-2.74M	-4.03M	-1.24M	-996K	-2.17M	-4.92M	20.87M	17.33M	18.37M
Interest Income	0	0	0	0	0	0	0	0	17.33M	18.37M
Interest Expense	6.36M	2.74M	4.03M	1.24M	996K	2.17M	4.92M	-20.87M	0	0
Other Income/Expense	-6.36M	-2.74M	-4.03M	-1.24M	-996K	-2.17M	-4.92M	20.87M	45.09M	24.11M
Pretax Income	347.51M▲ 0%	369.34M▲ 6.3%	362.85M▼ 1.8%	399.8M▲ 10.2%	627.53M▲ 57.0%	829.41M▲ 32.2%	789.89M▼ 4.8%	802.64M▲ 1.6%	737.68M▼ 8.1%	736.71M▲ 0%
Pretax Margin %	8%	8.12%	7.61%	7.91%	9.99%	11.4%	10.84%	10.54%	10.19%	10.17%
Income Tax	90.22M	72.81M	67.08M	76.62M	128.8M	125.72M	155.75M	166.9M	150.09M	150.72M
Effective Tax Rate %	25.96%	19.71%	18.49%	19.17%	20.52%	15.16%	19.72%	20.79%	20.35%	20.46%
Net Income	208.22M▲ 0%	242.93M▲ 16.7%	245.95M▲ 1.2%	269.58M▲ 9.6%	418.94M▲ 55.4%	601.17M▲ 43.5%	536.34M▼ 10.8%	536.29M▼ 0.0%	496.99M▼ 7.3%	496.01M▲ 0%
Net Margin %	4.8%	5.34%	5.16%	5.33%	6.67%	8.26%	7.36%	7.04%	6.87%	6.85%
Net Income Growth %	13.9%	16.67%	1.24%	9.61%	55.41%	43.5%	-10.78%	-0.01%	-7.33%	-6.3%
Net Income (Continuing)	257.29M	296.53M	295.77M	323.17M	498.74M	703.7M	634.14M	635.74M	587.59M	585.99M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	253.02M	253.86M	279.34M	293.08M	332.47M	359.04M	386.35M	407.25M	440.69M	452.81M
EPS (Diluted)	5.12▲ 0%	6.48▲ 26.6%	6.50▲ 0.3%	7.01▲ 7.8%	10.78▲ 53.8%	15.41▲ 42.9%	13.67▼ 11.3%	13.30▼ 2.7%	12.25▼ 7.9%	13.07▲ 0%
EPS Growth %	8.25%	26.56%	0.31%	7.85%	53.78%	42.95%	-11.29%	-2.71%	-7.89%	-7.52%
EPS (Basic)	5.12	6.48	6.51	7.03	10.83	15.46	13.67	13.34	12.25	-
Diluted Shares Outstanding	37.23M	37.46M	34.68M	35.15M	35.42M	35.68M	36.53M	37.51M	37.9M	37.96M
Basic Shares Outstanding	37.23M	37.46M	34.64M	35.07M	35.24M	35.56M	36.53M	37.51M	37.9M	37.96M
Dividend Payout Ratio	78.83%	86.12%	98.15%	98.57%	70.3%	55.3%	71.34%	78.97%	95.33%	-

WSO Balance Sheet

Watsco, Inc. (WSO) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	1.34B	1.44B	1.55B	1.48B	1.96B	2.3B	2.39B	3.08B	2.95B	3.18B
Cash & Short-Term Investments	80.5M	82.89M	74.45M	146.07M	118.27M	147.5M	210.11M	781.94M	733.28M	592.68M
Cash Only	80.5M	82.89M	74.45M	146.07M	118.27M	147.5M	210.11M	526.27M	433.28M	392.68M
Short-Term Investments	0	0	0	0	0	0	0	255.67M	300M	200M
Accounts Receivable	478.13M	501.91M	533.81M	535.29M	698.46M	747.11M	797.83M	877.93M	796.18M	839.24M
Days Sales Outstanding	40.19	40.29	40.84	38.65	40.59	37.49	39.98	42.06	40.14	45.28
Inventory	761.31M	837.13M	920.79M	781.3M	1.12B	1.37B	1.35B	1.39B	1.39B	1.72B
Days Inventory Outstanding	84.82	89.18	93.01	74.42	88.27	95.37	92.93	90.73	97.14	117.1
Other Current Assets	17.45M	19.88M	17.68M	21.79M	29.21M	33.95M	36.7M	34.67M	38.73M	34.07M
Total Non-Current Assets	709.48M	719.23M	1.01B	999.9M	1.12B	1.19B	1.34B	1.45B	1.5B	1.47B
Property, Plant & Equipment	91.2M	91.05M	321.89M	307.39M	379.55M	442.74M	504.98M	559.67M	588.56M	594.03M
Fixed Asset Turnover	47.61x	49.94x	14.82x	16.44x	16.55x	16.43x	14.42x	13.61x	12.30x	12.53x
Goodwill	382.73M	392M	411.22M	412.49M	434.02M	430.71M	457.15M	451.86M	462.51M	0
Intangible Assets	161.06M	147.85M	172M	169.93M	186.9M	175.19M	218.15M	208.47M	210.43M	0
Long-Term Investments	0	80.16M	94.83M	97.85M	114.81M	132.8M	146.24M	171.19M	190.2M	555.43M
Other Non-Current Assets	74.49M	8.18M	9.48M	12.25M	9.19M	8.03M	10.74M	8.35M	8.6M	909.15M
Total Assets	2.05B▲ 0%	2.16B▲ 5.6%	2.56B▲ 18.3%	2.48B▼ 2.8%	3.09B▲ 24.2%	3.49B▲ 13.0%	3.73B▲ 6.9%	4.53B▲ 21.5%	4.46B▼ 1.7%	4.65B▲ 0%
Asset Turnover	2.12x	2.10x	1.87x	2.03x	2.04x	2.09x	1.95x	1.68x	1.62x	1.58x
Asset Growth %	9.19%	5.58%	18.28%	-2.81%	24.21%	13.04%	6.91%	21.54%	-1.69%	11.12%
Total Current Liabilities	416.48M	357.57M	461.72M	487.14M	726.72M	906.52M	712.01M	983.9M	717.74M	951.87M
Accounts Payable	230.48M	200.23M	239.67M	251.55M	364.19M	456.13M	369.4M	490.88M	600.59M	834.16M
Days Payables Outstanding	25.68	21.33	24.21	23.96	28.82	31.75	25.48	32.15	42.09	44.41
Short-Term Debt	244K	246K	69.42M	71.8M	84.5M	56.4M	100.27M	0	117.15M	117.71M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	-84.5M	0	-100.27M	0	0	0
Current Ratio	3.21x	4.03x	3.35x	3.05x	2.70x	2.54x	3.36x	3.13x	4.12x	4.12x
Quick Ratio	1.38x	1.69x	1.36x	1.44x	1.16x	1.02x	1.47x	1.72x	2.18x	2.18x
Cash Conversion Cycle	99.33	108.14	109.65	89.11	100.04	101.11	107.43	100.64	95.2	117.97
Total Non-Current Liabilities	79.42M	201.75M	379.68M	217.44M	361.72M	333.41M	400.98M	484.13M	515.92M	482.71M
Long-Term Debt	22.09M	135.75M	155.7M	0	89M	0	15.4M	0	0	0
Capital Lease Obligations	0	0	156.28M	144.34M	196.21M	243.53M	289.13M	337.19M	361.63M	1.4B
Deferred Tax Liabilities	57.34M	66M	67.7M	73.1M	76.51M	89.88M	96.45M	140.24M	147.34M	147.34M
Other Non-Current Liabilities	0	0	0	0	0	0	0	6.69M	6.94M	1.19M
Total Liabilities	495.9M	559.32M	841.39M	704.59M	1.09B	1.24B	1.11B	1.47B	1.23B	1.43B
Total Debt	22.33M	136M	381.4M	216.14M	454.21M	390.53M	505.06M	447.46M	478.79M	476.2M
Net Debt	-58.17M	53.1M	306.95M	70.08M	335.95M	243.02M	294.94M	-78.81M	45.51M	83.53M
Debt / Equity	0.01x	0.08x	0.22x	0.12x	0.23x	0.17x	0.19x	0.15x	0.15x	0.15x
Debt / EBITDA	0.06x	0.35x	0.97x	0.51x	0.69x	0.45x	0.61x	0.54x	0.65x	0.63x
Net Debt / EBITDA	-0.15x	0.13x	0.78x	0.16x	0.51x	0.28x	0.36x	-0.10x	0.06x	0.06x
Interest Coverage	55.61x	135.80x	90.99x	323.68x	631.05x	373.63x	156.23x	36.00x	-	-
Total Equity	1.55B▲ 0%	1.6B▲ 3.3%	1.71B▲ 7.1%	1.78B▲ 3.8%	2B▲ 12.2%	2.25B▲ 12.6%	2.62B▲ 16.4%	3.06B▲ 17.1%	3.22B▲ 5.2%	3.21B▲ 0%
Equity Growth %	23.9%	3.27%	7.06%	3.79%	12.23%	12.56%	16.36%	17.13%	5.15%	19.52%
Book Value per Share	41.66	42.76	49.45	50.63	56.39	63.01	71.61	81.69	85.02	84.68
Total Shareholders' Equity	1.3B	1.35B	1.44B	1.49B	1.66B	1.89B	2.23B	2.66B	2.78B	2.76B
Common Stock	21.05M	21.17M	21.53M	21.7M	21.84M	21.81M	22.13M	22.22M	22.32M	0
Retained Earnings	594.56M	627.97M	632.51M	636.37M	760.8M	1.03B	1.18B	1.3B	1.32B	0
Treasury Stock	-87.44M	-87.44M	-87.44M	-87.44M	-87.44M	-87.44M	-86.63M	-73.48M	-73.23M	0
Accumulated OCI	-34.22M	-45.97M	-39.05M	-34.87M	-34.18M	-47.71M	-42.33M	-59.89M	-50.3M	0
Minority Interest	253.02M	253.86M	279.34M	293.08M	332.47M	359.04M	386.35M	407.25M	440.69M	452.81M

WSO Cash Flow Statement

Watsco, Inc. (WSO) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	301.85M	170.56M	335.77M	534.38M	349.57M	571.96M	561.95M	773.1M	569.61M	569.61M
Operating CF Margin %	6.95%	3.75%	7.04%	10.57%	5.57%	7.86%	7.72%	10.15%	7.87%	-
Operating CF Growth %	8.67%	-43.5%	96.87%	59.15%	-34.58%	63.62%	-1.75%	37.57%	-26.32%	34.46%
Net Income	257.29M	296.53M	295.77M	323.17M	498.74M	703.7M	634.14M	635.74M	464.18M	496.01M
Depreciation & Amortization	22.03M	22.09M	24.51M	25.91M	28.13M	31.68M	35.09M	40.82M	43.75M	43.99M
Stock-Based Compensation	13.29M	15.51M	17.03M	22.13M	25.36M	28.82M	30M	35.02M	0	25.96M
Deferred Taxes	-10.73M	8.29M	1.28M	40K	5.94M	13.47M	-7.18M	229K	18.44M	12.85M
Other Non-Cash Items	648K	-3.69M	-2.62M	-4.02M	-6.91M	-9.01M	-10.3M	-16.95M	145.33M	-348.95M
Working Capital Changes	19.32M	-168.17M	-207K	167.15M	-201.69M	-196.69M	-119.8M	78.23M	-102.09M	442.38M
Change in Receivables	-1.68M	-28.83M	8.46M	-3.56M	-130.41M	-60.15M	-36.03M	-85.56M	83.42M	-45.95M
Change in Inventory	-73.4M	-78.95M	-15.53M	139.93M	-243.66M	-259.86M	64.62M	-41.68M	11.96M	71.52M
Change in Payables	95.28M	-57.4M	12.73M	33.94M	182.82M	121.99M	-162.04M	197.76M	-203.05M	22.77M
Cash from Investing	-81.31M	-26.31M	-81.04M	-16.34M	-148.58M	-33.84M	-41.34M	-290.67M	-98.12M	-249.54M
Capital Expenditures	-17.88M	-17.15M	-17.8M	-16.44M	-25.46M	-35.65M	-35.48M	-30.09M	-34.55M	-26.18M
CapEx % of Revenue	0.41%	0.38%	0.37%	0.33%	0.41%	0.49%	0.49%	0.4%	0.48%	-
Acquisitions	-63.6M	-9.39M	-64.61M	0	-129.46M	-47K	-6.67M	-5.17M	-18.74M	-15.53M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	168K	228K	1.38M	94K	1.36M	1.86M	1.31M	262K	0	-163M
Cash from Financing	-202.15M	-139.6M	-264.02M	-448.49M	-228.6M	-503.96M	-460.08M	-158.53M	-568.12M	-520.41M
Debt Issued (Net)	-213.51M	113.67M	19.26M	-157.14M	86.96M	-35.64M	-45.05M	-21.43M	-5.97M	9.23M
Equity Issued (Net)	248.31M	2.81M	11.81M	16.96M	19.92M	-87.11M	12.35M	242.11M	42.82M	-80.58M
Dividends Paid	-164.15M	-209.22M	-241.41M	-265.71M	-294.52M	-332.45M	-382.65M	-423.52M	-473.76M	-486.5M
Share Repurchases	-4.67M	-3.78M	-1.53M	-2.3M	-1.09M	-87.11M	-2.83M	-39.67M	-3.66M	0
Other Financing	-72.8M	-46.86M	-53.68M	-42.6M	-40.96M	-48.76M	-44.74M	44.31M	-131.2M	37.44M
Net Change in Cash	24.49M▲ 0%	2.4M▼ 90.2%	-8.44M▼ 452.0%	71.61M▲ 948.5%	-27.8M▼ 138.8%	29.24M▲ 205.2%	62.61M▲ 114.1%	316.16M▲ 405.0%	-92.99M▼ 129.4%	-39.14M▲ 0%
Free Cash Flow	288.64M▲ 0%	153.4M▼ 46.9%	317.97M▲ 107.3%	517.94M▲ 62.9%	324.1M▼ 37.4%	536.31M▲ 65.5%	526.48M▼ 1.8%	743.01M▲ 41.1%	535.52M▼ 27.9%	702.17M▲ 0%
FCF Margin %	6.65%	3.37%	6.67%	10.25%	5.16%	7.37%	7.23%	9.75%	7.4%	9.7%
FCF Growth %	21.2%	-46.85%	107.27%	62.89%	-37.43%	65.48%	-1.83%	41.13%	-27.93%	52.66%
FCF per Share	7.75	4.09	9.17	14.73	9.15	15.03	14.41	19.81	14.13	14.13
FCF Conversion (FCF/Net Income)	1.45x	0.70x	1.37x	1.98x	0.83x	0.95x	1.05x	1.44x	1.15x	1.42x
Interest Paid	0	0	0	1.84M	913K	3.5M	10.12M	969K	0	0
Taxes Paid	0	0	0	70.89M	124.98M	105.74M	188.44M	124.6M	0	0

WSO Key Ratios

Watsco, Inc. (WSO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	14.86%	15.41%	14.83%	15.43%	22.18%	28.32%	22.05%	18.88%	15.81%	15.31%
Return on Invested Capital (ROIC)	18.15%	17.73%	14.97%	15.54%	22.54%	25.85%	22.07%	19.89%	16.61%	16.61%
Gross Margin	24.54%	24.64%	24.25%	24.19%	26.55%	27.91%	27.35%	26.84%	28.05%	28.37%
Net Margin	4.8%	5.34%	5.16%	5.33%	6.67%	8.26%	7.36%	7.04%	6.87%	6.85%
Debt / Equity	0.01x	0.08x	0.22x	0.12x	0.23x	0.17x	0.19x	0.15x	0.15x	0.15x
Interest Coverage	55.61x	135.80x	90.99x	323.68x	631.05x	373.63x	156.23x	36.00x	-	-
FCF Conversion	1.45x	0.70x	1.37x	1.98x	0.83x	0.95x	1.05x	1.44x	1.15x	1.42x
Revenue Growth	2.87%	4.71%	4.92%	5.97%	24.24%	15.83%	0.13%	4.59%	-4.98%	-4.52%

WSO SEC Filings & Documents

Watsco, Inc. (WSO) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 29, 2026·SEC

Material company update

Apr 28, 2026·SEC

Material company update

Feb 17, 2026·SEC

10-K Annual Reports

FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

WSO Frequently Asked Questions

Watsco, Inc. (WSO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Watsco, Inc. (WSO) reported $7.24B in revenue for fiscal year 2025. This represents a 1602% increase from $425.4M in 1996.

Watsco, Inc. (WSO) saw revenue decline by 5.0% over the past year.

Yes, Watsco, Inc. (WSO) is profitable, generating $496.0M in net income for fiscal year 2025 (6.9% net margin).

Dividend & Returns

Yes, Watsco, Inc. (WSO) pays a dividend with a yield of 2.97%. This makes it attractive for income-focused investors.

Watsco, Inc. (WSO) has a return on equity (ROE) of 15.8%. This is reasonable for most industries.

Watsco, Inc. (WSO) generated $702.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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