Watsco, Inc. (WSO) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q2'21 |
|---|
| Sales/Revenue | 1.53B | 1.58B | 2.07B | 2.06B | 1.53B | 1.75B | 2.16B | 2.14B | 1.56B | 1.6B | 2.13B | 2B | 1.55B | 1.58B | 2.04B | 2.13B | 1.52B | 1.51B | 1.78B | 1.85B |
| Revenue Growth % | 0.13% | -9.99% | -4.31% | -3.59% | -2.17% | 9.4% | 1.56% | 6.8% | 0.93% | 1.39% | 4.47% | -6.12% | 1.78% | 4.59% | 14.21% | 15.36% | 34.1% | 30.93% | 16% | 36.47% |
| Cost of Goods Sold | 1.11B | 1.15B | 1.47B | 1.46B | 1.1B | 1.29B | 1.59B | 1.56B | 1.13B | 1.19B | 1.56B | 1.44B | 1.1B | 1.15B | 1.48B | 1.54B | 1.07B | 1.1B | 1.3B | 1.37B |
| COGS % of Revenue | 72.11% | 72.86% | 71.22% | 70.74% | 71.94% | 73.31% | 73.79% | 72.9% | 72.48% | 74.15% | 73.34% | 71.91% | 71.1% | 72.58% | 72.94% | 72.09% | 70.44% | 72.74% | 72.92% | 74.16% |
| Gross Profit | 427.56M | 428.44M | 594.84M | 603.49M | 429.62M | 468.08M | 566.24M | 579.76M | 430.63M | 414.42M | 566.95M | 562.62M | 448.16M | 433.55M | 550.85M | 595.53M | 450.36M | 412.12M | 482.66M | 477.94M |
| Gross Margin % | 27.89% | 27.14% | 28.78% | 29.26% | 28.06% | 26.69% | 26.21% | 27.1% | 27.52% | 25.85% | 26.66% | 28.09% | 28.9% | 27.42% | 27.06% | 27.91% | 29.56% | 27.26% | 27.08% | 25.84% |
| Gross Profit Growth % | -0.48% | -8.47% | 5.05% | 4.09% | -0.23% | 12.95% | -0.12% | 3.05% | -3.91% | -4.41% | 2.92% | -5.53% | -0.49% | 5.2% | 14.13% | 24.6% | 52.76% | 46.02% | 29.14% | 49.73% |
| Operating Expenses | 317.37M | 332.64M | 360.07M | 331.62M | 317.44M | 331.9M | 316M | 310.96M | 304.09M | 306.67M | 310.33M | 296.92M | 283.42M | 296.37M | 314.6M | 308.44M | 279.31M | 289.05M | 275.87M | 261.16M |
| OpEx % of Revenue | 20.7% | 21.07% | 17.42% | 16.08% | 20.73% | 18.92% | 14.63% | 14.54% | 19.43% | 19.13% | 14.59% | 14.82% | 18.28% | 18.74% | 15.45% | 14.46% | 18.33% | 19.12% | 15.48% | 14.12% |
| Selling, General & Admin | 322.85M | 332.64M | 343.65M | 339M | 322.58M | 338.49M | 326.37M | 319.03M | 309.55M | 312.46M | 319.83M | 304.15M | 287.06M | 301.75M | 321.52M | 314.75M | 283.35M | 292.08M | 281.92M | 266.7M |
| SG&A % of Revenue | 21.06% | 21.07% | 16.63% | 16.44% | 21.07% | 19.3% | 15.11% | 14.91% | 19.78% | 19.49% | 15.04% | 15.18% | 18.51% | 19.08% | 15.79% | 14.75% | 18.6% | 19.32% | 15.82% | 14.42% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | 0 | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Operating Income | 110.18M | 95.79M | 234.76M | 271.87M | 112.19M | 136.19M | 250.25M | 268.8M | 126.54M | 107.75M | 256.62M | 265.7M | 164.74M | 137.18M | 236.25M | 287.1M | 171.05M | 123.07M | 206.8M | 216.78M |
| Operating Margin % | 7.19% | 6.07% | 11.36% | 13.18% | 7.33% | 7.76% | 11.59% | 12.56% | 8.09% | 6.72% | 12.07% | 13.26% | 10.62% | 8.68% | 11.6% | 13.46% | 11.23% | 8.14% | 11.6% | 11.72% |
| Operating Income Growth % | -1.79% | -29.66% | -6.19% | 1.14% | -11.34% | 26.39% | -2.48% | 1.17% | -23.19% | -21.45% | 8.62% | -7.45% | -3.69% | 11.47% | 14.24% | 32.44% | 108.9% | 76.41% | 31.9% | 67.73% |
| EBITDA | 121.2M | 106.86M | 245.75M | 282.78M | 122.97M | 146.68M | 260.69M | 278.81M | 136.42M | 117.43M | 265.41M | 274.14M | 172.92M | 145.42M | 244.32M | 294.88M | 178.64M | 130.32M | 213.8M | 223.76M |
| EBITDA Margin % | 7.91% | 6.77% | 11.89% | 13.71% | 8.03% | 8.36% | 12.07% | 13.03% | 8.72% | 7.32% | 12.48% | 13.69% | 11.15% | 9.2% | 12% | 13.82% | 11.73% | 8.62% | 11.99% | 12.1% |
| EBITDA Growth % | -1.43% | -27.14% | -5.73% | 1.42% | -9.86% | 24.91% | -1.78% | 1.71% | -21.11% | -19.25% | 8.63% | -7.03% | -3.2% | 11.59% | 14.28% | 31.78% | 101.22% | 70.76% | 30.98% | 64.93% |
| D&A (Non-Cash Add-back) | 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 | 6.98M |
| EBIT | 116.64M | 107.38M | 238.5M | 271.87M | 107.04M | 129.59M | 239.87M | 268.8M | 121.08M | 107.75M | 256.62M | 265.7M | 161.1M | 137.18M | 236.25M | 287.1M | 171.05M | 123.07M | 206.8M | 216.78M |
| Net Interest Income | 6.46M | 5.85M | 3.73M | 2.33M | 5.42M | 6.71M | 6.77M | 4.91M | 2.47M | 1M | -1.89M | -3.42M | -615K | -14K | -483K | -1.11M | -558K | -239K | -221K | -448K |
| Interest Income | 6.46M | 5.85M | 3.73M | 2.33M | 5.42M | 0 | 6.77M | 4.91M | 2.47M | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | -6.71M | 0 | 0 | 0 | 0 | 1.89M | 3.42M | 615K | 14K | 483K | 1.11M | 558K | 239K | 221K | 448K |
| Other Income/Expense | 6.46M | 11.59M | 3.73M | 2.33M | 5.42M | 6.71M | 6.77M | 4.91M | 2.47M | 1M | -1.89M | -3.42M | -615K | -14K | -483K | -1.11M | -558K | -239K | -221K | -448K |
| Pretax Income | 116.64M | 107.38M | 238.5M | 274.2M | 117.61M | 142.9M | 257.02M | 273.72M | 129.01M | 108.75M | 254.73M | 262.29M | 164.13M | 137.16M | 235.77M | 285.99M | 170.49M | 122.83M | 206.58M | 216.34M |
| Pretax Margin % | 7.61% | 6.8% | 11.54% | 13.29% | 7.68% | 8.15% | 11.9% | 12.79% | 8.24% | 6.78% | 11.98% | 13.09% | 10.58% | 8.67% | 11.58% | 13.4% | 11.19% | 8.12% | 11.59% | 11.7% |
| Income Tax | 23.7M | 20.33M | 49.27M | 57.43M | 23.07M | 27.72M | 55.37M | 59.06M | 24.75M | 11.01M | 54.1M | 56.89M | 33.75M | -19.96M | 49.6M | 60.48M | 35.6M | 27.2M | 41.73M | 44.2M |
| Effective Tax Rate % | 20.32% | 18.93% | 20.66% | 20.94% | 19.61% | 19.4% | 21.54% | 21.58% | 19.18% | 10.12% | 21.24% | 21.69% | 20.57% | -14.56% | 21.04% | 21.15% | 20.88% | 22.14% | 20.2% | 20.43% |
| Net Income | 79.07M | 71.75M | 161.57M | 183.61M | 80.06M | 96.84M | 171.03M | 181.41M | 87M | 82.55M | 170.95M | 172.76M | 110.07M | 137.67M | 157.64M | 192.56M | 113.3M | 78.89M | 140.87M | 144.1M |
| Net Margin % | 5.16% | 4.54% | 7.82% | 8.9% | 5.23% | 5.52% | 7.92% | 8.48% | 5.56% | 5.15% | 8.04% | 8.62% | 7.1% | 8.71% | 7.74% | 9.02% | 7.44% | 5.22% | 7.9% | 7.79% |
| Net Income Growth % | -1.23% | -25.91% | -5.53% | 1.21% | -7.98% | 17.32% | 0.05% | 5% | -20.96% | -40.04% | 8.44% | -10.28% | -2.85% | 74.52% | 11.91% | 33.63% | 105.65% | 71.45% | 32.28% | 66.44% |
| Net Income (Continuing) | 92.94M | 87.05M | 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 | 172.13M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 452.81M | 440.69M | 486.82M | 461.38M | 422.81M | 407.25M | 465.5M | 433.35M | 401.15M | 386.35M | 441.75M | 414.4M | 379.43M | 359.04M | 407.38M | 385.34M | 355.5M | 332.47M | 376.94M | 355.83M |
| EPS (Diluted) | 1.87 | 1.68 | 3.98 | 4.52 | 1.93 | 2.39 | 4.22 | 4.49 | 2.17 | 1.95 | 4.35 | 4.42 | 2.83 | 3.31 | 4.03 | 4.93 | 2.90 | 1.85 | 3.62 | 3.71 |
| EPS Growth % | -3.11% | -29.71% | -5.69% | 0.67% | -11.06% | 22.56% | -2.99% | 1.58% | -23.32% | -41.09% | 7.94% | -10.34% | -2.41% | 78.92% | 11.33% | 32.88% | 108.63% | 77.88% | 43.08% | 80.1% |
| EPS (Basic) | 1.87 | 1.68 | 3.98 | 4.53 | 1.93 | 2.39 | 4.24 | 4.50 | 2.17 | 1.95 | 4.36 | 4.43 | 2.83 | 3.32 | 4.04 | 4.94 | 2.91 | 1.85 | 3.64 | 3.73 |
| Diluted Shares Outstanding | 37.96M | 37.93M | 37.92M | 37.88M | 37.85M | 37.75M | 37.67M | 37.63M | 37M | 39.44M | 36.58M | 36.43M | 36.3M | 38.75M | 35.56M | 35.52M | 35.5M | 38.85M | 35.44M | 35.43M |
| Basic Shares Outstanding | 37.96M | 37.93M | 37.92M | 37.88M | 37.75M | 37.75M | 37.55M | 37.51M | 36.88M | 39.44M | 36.45M | 36.3M | 36.28M | 38.75M | 35.45M | 35.4M | 35.35M | 38.8M | 35.26M | 35.23M |
| Dividend Payout Ratio | 154% | 169.6% | 75.25% | 66.15% | 136.19% | 112.59% | 63.68% | 59.98% | 111.22% | 116.93% | 55.99% | 55.24% | 86.28% | 61.89% | 54.4% | 44.5% | 66.9% | 95.18% | 53.62% | 52.32% |