Watsco financials
$300.80−3.97%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.24B | $7.62B | $7.28B | $7.27B | $6.28B | $5.05B | $4.77B | $4.55B | $4.34B | $4.22B |
| Gross profit | $2.03B | $2.04B | $1.99B | $2.03B | $1.67B | $1.22B | $1.16B | $1.12B | $1.07B | $1.03B |
| Gross margin | 28.0% | 26.8% | 27.4% | 27.9% | 26.6% | 24.2% | 24.3% | 24.6% | 24.5% | 24.5% |
| Operating income | $692.6M | $751.3M | $768.6M | $808.9M | $609.2M | $389.8M | $356.6M | $362.8M | $350.0M | $345.6M |
| Net income | $464.2M | $498.9M | $499.4M | $549.8M | $381.7M | $246.4M | $225.5M | $223.1M | $190.8M | $168.0M |
| Net margin | 6.4% | 6.5% | 6.9% | 7.6% | 6.1% | 4.9% | 4.7% | 4.9% | 4.4% | 4.0% |
| Diluted EPS | $12.25 | $13.30 | $13.67 | $15.41 | $10.78 | $7.01 | $6.50 | $6.49 | $5.81 | $5.15 |
| EBITDA | $736.3M | $792.1M | $803.7M | $840.6M | $637.4M | $415.7M | $381.1M | $384.9M | $372.0M | $365.7M |
| Operating cash flow | $569.6M | $773.1M | $562.0M | $572.0M | $349.6M | $534.4M | $335.8M | $170.6M | $306.5M | $281.7M |
| Free cash flow | $535.1M | $743.0M | $526.5M | $536.3M | $324.1M | $517.9M | $318.0M | $153.4M | $288.6M | $238.2M |
| Diluted shares | 38.0M | 37.6M | 36.7M | 35.7M | 35.4M | 35.2M | 34.7M | 34.4M | 32.9M | 32.6M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $433.3M | $526.3M | $210.1M | $147.5M | $118.3M | $146.1M |
| Short-term investments | $300.0M | $255.7M | $0.00 | $0.00 | — | — |
| Total debt | $128.2M | $125.7M | $127.9M | $158.4M | $182.7M | $76.6M |
| Total assets | $4.41B | $4.48B | $3.73B | $3.49B | $3.09B | $2.48B |
| Total liabilities | $1.19B | $1.42B | $1.11B | $1.24B | $1.09B | $704.6M |
| Shareholders' equity | $3.22B | $3.06B | $2.62B | $2.25B | $2.00B | $1.78B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology