Company research
WATSCO INC
CIK 105016Updated Sep 27, 2026
SecuritiesWSO · NYSE · equityWSO B · NYSE · equity
WSO price & chart
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NYSE:WSO on TradingView ↗About the company
Watsco is the largest distributor in the highly fragmented North American HVAC/R market. Watsco’s solid financial position and culture of innovation has enabled investments in long-term growth, including the Company’s industry-leading technology platforms. Today, more than 70,000 contractors, installers and technicians engage digitally with the Company, resulting in improved growth and lower attrition. The Company is now advancing AI-driven initiatives to leverage its extensive data assets to enhance the customer experience and improve efficiencies. These investments position Watsco to capture market share as contractors increasingly adopt digital tools and incorporate data-driven solutions in their businesses.
In the news
Watsco Declares $3.30 Quarterly Dividend ↗
Recent filings
Unregistered Sales of Equity Securities
Items 3.02
10-Q filing
Results of Operations and Financial Condition · Regulation FD Disclosure
Items 2.02, 7.01, 9.01
8-K/A filing
Financial Statements and Exhibits
Items 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 4,414,805,000Source | 4,479,523,000Source | 3,729,182,000Source | 3,488,214,000Source |
| Property, Plant and Equipment, NetUSD | 136,012,000Source | 140,535,000Source | 136,230,000Source | 125,424,000Source |
| GoodwillUSD | 462,509,000Source | 451,858,000Source | 457,148,000Source | 430,711,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 210,427,000Source | 208,472,000Source | 218,146,000Source | 175,191,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 433,283,000Source | 526,271,000Source | 210,112,000Source | 147,505,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 796,181,000Source | 877,935,000Source | 797,832,000Source | 747,110,000Source |
| Inventory, NetUSD | 1,386,317,000Source | 1,385,436,000Source | 1,347,289,000Source | 1,370,173,000Source |
| Assets, CurrentUSD | 2,954,506,000Source | 3,079,981,000Source | 2,391,931,000Source | 2,298,739,000Source |
| Operating Lease, Right-of-Use AssetUSD | 452,547,000Source | 419,138,000Source | 368,748,000Source | 317,314,000Source |
| Other Assets, NoncurrentUSD | 13,570,000Source | 10,928,000Source | 10,741,000Source | 8,033,000Source |
| LIABILITIES AND EQUITY | ||||
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Retained Earnings (Accumulated Deficit)USD | 1,319,201,000Source | 1,295,972,000Source | 1,183,207,000Source | 1,029,516,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -50,305,000Source | -59,893,000Source | -42,331,000Source | -47,710,000Source |
| Stockholders' Equity Attributable to ParentUSD | 2,781,376,000Source | 2,656,990,000Source | 2,229,839,000Source | 1,889,237,000Source |
| Additional Paid in Capital, Common StockUSD | 1,563,389,000Source | 1,472,170,000Source | 1,153,459,000Source | 973,060,000Source |
| Liabilities and EquityUSD | 4,414,805,000Source | 4,479,523,000Source | 3,729,182,000Source | 3,488,214,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 717,742,000Source | 983,901,000Source | 712,012,000Source | 906,522,000Source |
| Operating Lease, Liability, CurrentUSD | 112,260,000Source | 103,978,000Source | 95,587,000Source | 87,120,000Source |
| Accounts Payable, CurrentUSD | 350,425,000Source | 490,879,000Source | 369,396,000Source | 456,128,000Source |
| Operating Lease, Liability, NoncurrentUSD | 350,616,000Source | 321,715,000Source | 276,913,000Source | 232,144,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 440,685,000Source | 407,248,000Source | 386,351,000Source | 359,041,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 250,164,000Source | 382,749,000Source | 242,351,000Source | 303,397,000Source |
| Deferred Tax Liabilities, NetUSD | 105,203,000Source | 86,304,000Source | 87,860,000Source | 81,358,000Source |
| Short-term InvestmentsUSD | 300,000,000Source | 255,669,000Source | — | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 587,588,000Source | 635,740,000Source | 634,139,000Source | 703,696,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 43,752,000Source | 40,822,000Source | 35,090,000Source | 31,683,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 35,344,000Source | 35,022,000Source | 30,000,000Source | 28,821,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -83,425,000Source | 85,555,000Source | 36,035,000Source | 60,154,000Source |
| Increase (Decrease) in InventoriesUSD | -11,957,000Source | 41,678,000Source | -64,620,000Source | 259,860,000Source |
| Deferred Income Tax Expense (Benefit)USD | 18,437,000Source | 229,000Source | -7,179,000Source | 13,466,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 569,613,000Source | 773,102,000Source | 561,954,000Source | 571,964,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 19,198,000Source | 5,173,000Source | 3,822,000Source | 47,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -98,122,000Source | -290,670,000Source | -41,343,000Source | -33,836,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 34,550,000Source | 30,090,000Source | 35,478,000Source | 35,652,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 3,657,000Source | 39,673,000Source | 2,828,000Source | 87,107,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -568,116,000Source | -158,530,000Source | -460,076,000Source | -503,958,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 473,765,000Source | 423,521,000Source | 382,646,000Source | 332,447,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -92,988,000Source | 316,159,000Source | 62,607,000Source | 29,237,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 433,283,000Source | 526,271,000Source | 210,112,000Source | 147,505,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 697,000Source | 969,000Source | 10,115,000Source | 3,505,000Source |
| Income Taxes Paid, NetUSD | 164,733,000Source | 124,599,000Source | 188,443,000Source | 105,736,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 35,344,000Source | 35,022,000Source | 30,000,000Source | 28,821,000Source |
| Amortization of Intangible AssetsUSD | 5,345,000Source | 5,431,000Source | 4,323,000Source | 4,709,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | -407,000Source | -536,000Source | 143,000Source | 1,624,000Source |
| GoodwillUSD | 462,509,000Source | 451,858,000Source | 457,148,000Source | 430,711,000Source |
| Goodwill and Intangible Asset ImpairmentUSD | 0Source | 0Source | 0Source | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 27,765,000Source | 30,501,000Source | 26,177,000Source | 22,671,000Source |
| Income Tax Expense (Benefit)USD | 150,088,000Source | 166,904,000Source | 155,751,000Source | 125,717,000Source |
| Net Income (Loss) Attributable to ParentUSD | 496,994,000Source | 536,286,000Source | 536,337,000Source | 601,167,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 90,594,000Source | 99,454,000Source | 97,802,000Source | 102,529,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 464,184,000Source | — | — | — |
| Proceeds from Issuance of Common StockUSD | — | — | — | 20,422,000Source |
| Proceeds from Noncontrolling InterestsUSD | — | 0Source | 570,000Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 7,239,290,000Source | 7,618,317,000Source | 7,283,767,000Source | 7,274,344,000Source |
| Cost of RevenueUSD | 5,208,826,000Source | 5,573,604,000Source | 5,291,627,000Source | 5,244,055,000Source |
| Selling, General and Administrative ExpenseUSD | 1,337,882,000Source | 1,293,439,000Source | 1,223,507,000Source | 1,221,382,000Source |
| Operating Income (Loss)USD | 720,347,000Source | 781,775,000Source | 794,810,000Source | 831,578,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 737,676,000Source | 802,644,000Source | 789,890,000Source | 829,413,000Source |
| Income Tax Expense (Benefit)USD | 150,088,000Source | 166,904,000Source | 155,751,000Source | 125,717,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 90,594,000Source | 99,454,000Source | 97,802,000Source | 102,529,000Source |
| Net Income (Loss) Attributable to ParentUSD | 496,994,000Source | 536,286,000Source | 536,337,000Source | 601,167,000Source |
| Earnings Per Share, BasicUSD per share | 12.27Source | 13.34Source | 13.72Source | 15.46Source |
| Earnings Per Share, DilutedUSD per share | 12.25Source | 13.3Source | 13.67Source | 15.41Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 37,835,054Source | — | — | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 37,899,859Source | — | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 5,345,000Source | 5,431,000Source | 4,323,000Source | 4,709,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 11.7Source | 10.55Source | 9.8Source | 8.55Source |
| Current Income Tax Expense (Benefit)USD | 131,651,000Source | 166,675,000Source | 162,930,000Source | 112,251,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | 38,407,000Source | 35,391,000Source | 30,767,000Source | 26,974,000Source |
| Gross ProfitUSD | 2,030,464,000Source | 2,044,713,000Source | 1,992,140,000Source | 2,030,289,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 682,062,000Source | 725,603,000Source | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | 27,765,000Source | 30,501,000Source | 26,177,000Source | 22,671,000Source |
| Interest Income (Expense), NetUSD | 17,329,000Source | 20,869,000Source | -4,920,000Source | -2,165,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 464,184,000Source | — | — | — |
Filing attachments
wso-ex99_1.htm · 8-K · 2026-07-29
EX-99.1 2 wso-ex99_1.htm EX-99.1 EX-99.1 EXHIBIT 99.1 Watsco Second Quarter Results Reflect Further Industry Stabilization, Strong E-Commerce Sales Growth and Continued Operating Efficiency _____________________ Jackson Supply Acquisition Adds Density to Key Sunbelt Markets; Entrepreneurial Culture and Debt-Free Balance Sheet Positions Company for Growth MIAMI, FLORIDA - (GLOBENEWSWIRE), July 29, 2026 - Watsco, Inc. (NYSE: WSO) today announced its operating results for the quarter and…
Read attachment ↗wso-ex99_1.htm · 8-K · 2026-04-28
EX-99.1 2 wso-ex99_1.htm EX-99.1 EX-99.1 EXHIBIT 99.1 Watsco First Quarter Performance Reflects Stabilizing Markets, Improved Operating Efficiency and Expanded Technology Adoption _____________________ Company to Acquire Jackson Supply Company, Leading Sunbelt Distributor with Annual Sales of $230 Million MIAMI, FLORIDA - (GLOBENEWSWIRE), April 28, 2026 - Watsco, Inc. (NYSE: WSO) today announced its operating results for the first quarter ended March 31, 2026. Watsco also announced t…
Read attachment ↗wso-ex99_1.htm · 8-K · 2026-02-17
EX-99.1 2 wso-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 Watsco Reports Record Full-Year Gross Margin, Meets Inventory Reduction Target and Generates Record 4th Quarter Cash Flow in Challenging Market Conditions ______________________ Boosts Annual Dividend 10% to $13.20 Per Share Entrepreneurial Culture, Transformational Technologies and Debt-Free Balance Sheet Positions Company for Growth MIAMI, FLORIDA - (GLOBENEWSWIRE), February 17, 2026 - Watsco, Inc. (NYSE: WSO) announced its opera…
Read attachment ↗wso-ex99_2.htm · 8-K · 2026-02-17
EX-99.2 3 wso-ex99_2.htm EX-99.2 EX-99.2 Exhibit 99.2 Watsco Boosts Annual Dividend 10% to $13.20 Per Share ____________ MIAMI, FLORIDA - (GLOBENEWSWIRE), February 17, 2026 - Watsco, Inc. (NYSE:WSO) announced that its Board of Directors approved a 10% increase in its annual dividend to $13.20 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the Company’s next quarterly dividend payment in April 2026. Albert H. Nahmad, Watsco’s…
Read attachment ↗d941916dex991.htm · 8-K · 2025-07-30
EX-99.1 2 d941916dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Watsco Reports Second Quarter 2025 Results and Provides Update on Innovation & Strategic Technology Initiatives Record Gross Profit Margins & Expanded Operating Margins Amidst A2L Product Transition; Strong Balance Sheet Fortifies the Company and Enables Continued Investments in Growth MIAMI, FLORIDA - (GLOBENEWSWIRE), July 30, 2025 - Watsco, Inc. (NYSE: WSO) announced its operating results for the second quarter and six-month pe…
Read attachment ↗d66237dex991.htm · 8-K · 2025-04-23
EX-99.1 2 d66237dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Watsco’s First Quarter Reflects Large-Scale Product Transition, Strong Sales Growth and Expanded Margins in Core Replacement Market Debt-Free Balance Sheet, Industry-Leading Technology and Scale Create Competitive Advantage; Business Trends Improve Ahead of Summer Selling Season MIAMI, FLORIDA - (GLOBENEWSWIRE), April 23, 2025 - Watsco, Inc. (NYSE: WSO) announced its operating results for the first quarter ended March 31, 2025 and…
Read attachment ↗