Watsco, Inc. (WSO) quarterly cash flow statement — complete operating, investing & financing history
Watsco, Inc. (WSO) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -2.54M | -18.91M | 399.77M | 354.94M | -7.45M | -177.64M | 378.9M | 232.76M | 57.73M | 103.71M | 298.61M | 352.52M | -41.76M | -47.42M | 213.08M | 285.81M | 174.69M | -101.62M | 29.89M | 237.79M |
| Operating CF Margin % | -0.12% | -1.23% | 25.32% | 17.17% | -0.36% | -11.6% | 21.6% | 10.78% | 2.7% | 6.63% | 18.63% | 16.57% | -2.08% | -3.06% | 13.48% | 14.04% | 8.19% | -6.67% | 1.98% | 13.34% |
| Operating CF Growth % | 65.95% | 89.36% | 5.51% | 52.49% | -112.9% | -271.3% | 26.89% | -33.97% | 238.26% | 318.69% | 40.14% | 23.34% | -123.9% | 53.34% | 612.8% | 20.19% | 46.03% | -169.23% | -81.5% | 113.22% |
| Net Income | 205.17M | 79.07M | 67.05M | 189.23M | 216.77M | 94.54M | 115.18M | 201.65M | 214.65M | 104.26M | 97.74M | 200.62M | 205.4M | 130.37M | 157.13M | 186.17M | 225.51M | 134.89M | 95.63M | 164.84M |
| Depreciation & Amortization | 10.92M | 11.02M | 11.07M | 10.99M | 10.91M | 10.78M | 10.49M | 10.44M | 10.01M | 9.88M | 9.68M | 8.79M | 8.43M | 8.18M | 8.24M | 8.06M | 7.78M | 7.59M | 7.25M | 7M |
| Stock-Based Compensation | 8.63M | 8.08M | 0 | 9.07M | 8.81M | 8.8M | 9.96M | 8.55M | 8.39M | 8.13M | 9.21M | 7.26M | 6.83M | 6.7M | 6.8M | 7.06M | 6.99M | 7.97M | 6.71M | 6.31M |
| Deferred Taxes | 0 | 0 | 12.85M | 0 | 0 | 0 | -5.75M | 2.41M | 0 | 0 | -13.07M | 2.45M | 0 | 0 | 7.16M | 2.21M | 0 | 0 | 1.97M | 1.85M |
| Other Non-Cash Items | -157.25M | 20.42M | 25.93M | -390.27M | -5.03M | 5.25M | -2.96M | -11.06M | -4.75M | 5.38M | -1.62M | -7.59M | -5.08M | 7.42M | -4.14M | -5.5M | -442K | 5.17M | 2.24M | -5.08M |
| Working Capital Changes | -70.01M | -137.49M | 282.86M | 535.91M | -238.9M | -297.01M | 251.97M | 20.78M | -170.57M | -23.95M | 196.67M | 140.98M | -257.35M | -200.1M | 37.89M | 87.81M | -65.14M | -257.25M | -83.91M | 62.87M |
| Change in Receivables | -153.53M | -45.52M | 143.66M | 70.89M | -214.98M | 83.86M | 59.52M | 58.89M | -170.46M | -33.5M | 148.07M | 59.33M | -178.75M | -64.69M | 110.59M | 118.73M | -197.7M | -91.78M | 67.6M | 85.07M |
| Change in Inventory | 216.89M | -330.43M | 216.44M | 348.48M | -162.97M | -389.99M | 206.52M | -22.22M | 81.23M | -307.22M | 208.37M | 169.89M | -72.88M | -240.76M | 16.79M | 89.71M | -92.66M | -273.7M | -73M | 2.88M |
| Change in Payables | -130.25M | 234.71M | -94.73M | -258.09M | 140.89M | 8.89M | -21.12M | -14.63M | -81.57M | 315.09M | -179.65M | -85.83M | 1.63M | 101.81M | -90.84M | -119.39M | 224.46M | 107.75M | -80.93M | -19.1M |
| Cash from Investing | 98.63M | 93.14M | -111.6M | -208.77M | -22.3M | 244.56M | -7.95M | -65.4M | -6.35M | -210.97M | -13.29M | -10.46M | -7.15M | -10.44M | -7.43M | -7.52M | -10.67M | -8.22M | -8.45M | -8.67M |
| Capital Expenditures | -8.94M | -6.96M | -10.84M | -8.51M | -6.84M | -7.54M | -8.03M | -9.8M | -6.42M | -5.84M | -9.98M | -9.67M | -8.33M | -7.5M | -9.13M | -7.57M | -10.63M | -8.32M | -8.69M | -5.76M |
| CapEx % of Revenue | 0.42% | 0.45% | 0.69% | 0.41% | 0.33% | 0.49% | 0.46% | 0.45% | 0.3% | 0.37% | 0.62% | 0.45% | 0.42% | 0.48% | 0.58% | 0.37% | 0.5% | 0.55% | 0.58% | 0.32% |
| Acquisitions | 7.66M | 0 | 105K | 80K | -15.71M | -3.67M | 0 | 0 | 5K | -5.18M | -2.84M | -838K | 0 | -2.99M | 0 | 0 | 0 | -47K | 0 | -2.91M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -100K | 100K | -256.04M | -344K | 246K | 255.77M | 81K | 61K | 62K | 58K | -471K | 45K | 1.18M | 56K | 1.7M | 56K | -42K | 153K | 248K | 8K |
| Cash from Financing | -123.39M | -113.97M | -180.31M | -113.57M | -112.55M | -161.68M | -133.47M | -98.87M | -104.59M | 178.4M | -252.44M | -328.11M | 69.17M | 51.3M | -188.47M | -273.21M | -143.68M | 101.41M | -40.7M | -186.92M |
| Debt Issued (Net) | 1.22M | -1.22M | 4.55M | -1.44M | 1.57M | -1.57M | -1.58M | -1.55M | -1.5M | -16.8M | -91.45M | -238.3M | 144.38M | 139.74M | 46.76M | -195.57M | -59.62M | 172.79M | 86.74M | -112.98M |
| Equity Issued (Net) | 2.94M | 5.17M | -41.32M | 1.91M | -11.05M | 11.05M | -29.52M | 5.04M | -11.39M | 291.96M | 28.94M | -385K | 6.39M | 6.53M | -80.85M | -292K | -6.6M | 4.42M | 9.64M | 1.59M |
| Dividends Paid | -134.15M | -121.78M | -121.68M | -121.59M | -121.46M | -109.04M | -109.03M | -108.92M | -108.8M | -96.77M | -96.52M | -95.71M | -95.44M | -94.97M | -85.2M | -85.76M | -85.69M | -75.8M | -75.08M | -75.53M |
| Share Repurchases | 590K | -590K | 0 | -3.66M | 0 | 0 | -36.83M | -1.64M | -767K | -442K | -189K | -385K | -38K | -2.22M | -84.64M | -292K | -2.18M | 0 | -198K | -894K |
| Other Financing | 6.6M | 3.85M | -21.86M | 7.55M | 18.39M | -62.12M | 6.67M | 6.55M | 17.1M | 0 | -93.4M | 6.29M | 13.83M | 0 | -69.18M | 8.41M | 8.23M | 0 | -62M | 0 |
| Net Change in Cash | -28.49M | -40.6M | 108.94M | 31.37M | -138.84M | -94.45M | -23.75M | 125.17M | 145.99M | 68.75M | 35.09M | 12.5M | 21.57M | -6.55M | 17.28M | 1.18M | 18.44M | -7.66M | -18.93M | 40.41M |
| Free Cash Flow | -11.47M | -25.87M | 388.93M | 346.43M | -14.28M | -185.19M | 370.87M | 222.97M | 51.32M | 97.86M | 288.64M | 342.85M | -50.08M | -54.93M | 203.96M | 278.23M | 164.07M | -109.95M | 21.2M | 232.03M |
| FCF Margin % | -0.55% | -1.69% | 24.64% | 16.76% | -0.69% | -12.1% | 21.14% | 10.32% | 2.4% | 6.25% | 18% | 16.12% | -2.5% | -3.54% | 12.9% | 13.67% | 7.69% | -7.22% | 1.4% | 13.02% |
| FCF Growth % | 19.69% | 86.03% | 4.87% | 55.37% | -127.83% | -289.23% | 28.49% | -34.97% | 202.46% | 278.17% | 41.52% | 23.22% | -130.53% | 50.04% | 862.07% | 19.91% | 44.63% | -158.29% | -86.48% | 114.97% |
| FCF per Share | -0.30 | -0.68 | 10.25 | 9.14 | -0.38 | -4.89 | 9.83 | 5.92 | 1.36 | 2.64 | 7.32 | 9.37 | -1.37 | -1.51 | 5.26 | 7.82 | 4.62 | -3.10 | 0.55 | 6.55 |
| FCF Conversion (FCF/Net Income) | -0.02x | -0.24x | 5.57x | 2.20x | -0.04x | -2.22x | 3.91x | 1.36x | 0.32x | 1.19x | 3.62x | 2.06x | -0.24x | -0.43x | 1.55x | 1.81x | 0.91x | -0.90x | 0.38x | 1.69x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |