Sunday 11 October 2026
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Watsco, Inc.
WSO Industrials Industrial Distribution
Watsco, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, down 4.98% from fiscal 2024. In the quarter to June 2026, revenue grew 2.06%, EPS fell 11.5%, free cash flow grew 17.6% and total debt rose 815.5%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
279.90
2.33
−0.83%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
29.07 | 29.34 | 21.67 | 28.15 | 32.93 | 29.13 | 16.57 | 29.43 | 33.94 | 27.82 |
Piotroski F-Score |
7 | 6 | 5 | 3 | 5 | 5 | 6 | 4 | 4 | 6 |
P/S ratio |
1.15 | 1.28 | 1.05 | 1.31 | 1.57 | 1.76 | 1.25 | 2.10 | 2.33 | 1.76 |
Altman Z-Score |
8.51 | 10.39 | 8.80 | 7.65 | 10.17 | 9.61 | 8.06 | 12.05 | 10.76 | 9.62 |
Altman Z″-Score (non-manufacturers) |
7.54 | 8.34 | 8.40 | 6.70 | 7.21 | 6.72 | 7.09 | 7.89 | 7.46 | 8.23 |
P/FCF ratio |
20.30 | 19.31 | 31.08 | 19.54 | 15.34 | 33.88 | 16.88 | 28.94 | 23.84 | 23.81 |
Beneish M-Score |
(2.54) | (2.49) | (2.20) | (2.42) | (2.81) | (2.19) | (2.28) | (2.21) | (2.63) | (2.48) |
P/Operating CF |
35.81 | 47.60 | 47.52 | 45.15 | 49.17 | 368.87 | 42.62 | 51.15 | 46.77 | 31.89 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 56 |
P/B ratio |
3.87 | 3.60 | 2.98 | 3.64 | 4.46 | 5.52 | 4.04 | 5.84 | 5.78 | 3.96 |
Price to Tangible BV |
6.80 | 5.54 | 4.50 | 5.52 | 6.64 | 8.01 | 5.53 | 7.87 | 7.37 | 5.00 |
EV/Sales |
1.19 | 1.27 | 1.06 | 1.34 | 1.56 | 1.77 | 1.25 | 2.08 | 2.24 | 1.68 |
EV/EBITDA |
13.75 | 14.68 | 12.25 | 16.34 | 18.45 | 16.89 | 10.53 | 18.30 | 20.74 | 15.89 |
EV/Operating CF |
17.85 | 18.00 | 28.31 | 19.04 | 14.74 | 31.73 | 15.90 | 27.02 | 22.07 | 21.32 |
EV/FCF |
21.05 | 19.11 | 31.43 | 20.02 | 15.20 | 34.08 | 16.90 | 28.77 | 22.95 | 22.68 |
Quick Ratio |
1.69 | 1.34 | 1.64 | 1.32 | 1.40 | 1.12 | 0.99 | 1.42 | 1.69 | 2.13 |
Current Ratio |
3.94 | 3.21 | 4.03 | 3.35 | 3.05 | 2.70 | 2.54 | 3.36 | 3.13 | 4.12 |
Net Debt/EBITDA |
0.49 | (0.15) | 0.13 | 0.39 | (0.16) | 0.10 | 0.01 | (0.22) | (0.93) | (0.95) |
Debt/Assets |
12.58% | 1.09% | 6.29% | 8.89% | 3.08% | 5.92% | 4.54% | 0.74% | 0.35% | 0.25% |
Debt/Equity |
0.19 | 0.01 | 0.08 | 0.13 | 0.04 | 0.09 | 0.07 | 0.01 | 0.01 | 0.00 |
Asset Turnover |
2.30 | 2.21 | 2.16 | 2.02 | 2.01 | 2.25 | 2.21 | 2.02 | 1.86 | 1.63 |
Operating CF/Net income |
1.68 | 1.61 | 0.76 | 1.49 | 2.17 | 0.92 | 1.04 | 1.05 | 1.44 | 1.15 |
Capex/Depreciation |
(2.13) | (0.80) | (0.77) | (0.67) | (0.63) | (0.86) | (1.07) | (0.97) | (0.73) | (0.78) |
Interest Coverage |
93.09 | 55.61 | 135.80 | 90.99 | 323.68 | 631.05 | 384.10 | 161.55 | (37.46) | (41.57) |
| 13.68% | 13.61% | 14.16% | 13.60% | 14.10% | 20.21% | 25.90% | 22.05% | 18.88% | 15.81% | |
| 9.17% | 9.73% | 10.61% | 9.56% | 9.78% | 13.70% | 16.73% | 14.86% | 13.07% | 11.18% | |
ROIC |
15.09% | 14.82% | 14.05% | 12.28% | 14.66% | 19.05% | 23.01% | 20.41% | 21.26% | 18.01% |
Return on Tangible Assets |
16.54% | 18.85% | 18.99% | 19.06% | 22.50% | 28.36% | 36.23% | 29.53% | 23.98% | 20.95% |
Average Days of Receivables |
41.16 | 40.19 | 40.29 | 40.84 | 38.65 | 40.59 | 37.49 | 39.98 | 42.06 | 40.14 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
16.32% | 16.48% | 16.66% | 16.78% | 16.48% | 16.85% | 16.79% | 16.80% | 16.98% | 18.48% |
Intangible Assets out of Total Assets |
0.29 | 0.27 | 0.25 | 0.23 | 0.23 | 0.20 | 0.17 | 0.18 | 0.15 | 0.15 |
Share Based Compensation of Revenue |
0.35% | 0.36% | 0.41% | 0.45% | 0.53% | 0.49% | 0.49% | 0.53% | 0.57% | 0.61% |
Graham Net Nets |
0.13 | 0.15 | 0.18 | 0.11 | 0.10 | 0.08 | 0.12 | 0.08 | 0.09 | 0.14 |
Graham Number |
66.53 | 78.46 | 82.11 | 84.42 | 88.63 | 117.03 | 148.05 | 151.81 | 160.46 | 152.33 |
Earnings Yield |
3.44% | 3.41% | 4.61% | 3.55% | 3.04% | 3.43% | 6.03% | 3.40% | 2.95% | 3.59% |
Free Cash Flow Yield |
4.93% | 5.18% | 3.22% | 5.12% | 6.52% | 2.95% | 5.93% | 3.46% | 4.19% | 4.20% |
Revenue per Share |
129.54 | 132.28 | 132.48 | 137.69 | 144.14 | 178.19 | 204.54 | 200.07 | 203.75 | 191.34 |
Operating CF per Share |
8.65 | 9.34 | 4.97 | 9.69 | 15.24 | 9.92 | 16.08 | 15.44 | 20.68 | 15.06 |
Capex per Share |
(1.31) | (0.54) | (0.49) | (0.47) | (0.47) | (0.68) | (0.95) | (0.94) | (0.80) | (0.90) |
Free Cash Flow per Share |
7.33 | 8.80 | 4.48 | 9.22 | 14.77 | 9.23 | 15.13 | 14.50 | 19.88 | 14.15 |
Cash per Share |
1.72 | 2.45 | 2.42 | 2.15 | 4.17 | 3.36 | 4.15 | 5.77 | 20.91 | 19.38 |
Shareholders Equity per Share |
38.42 | 47.25 | 46.67 | 49.50 | 50.75 | 56.67 | 63.22 | 71.86 | 81.95 | 85.16 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
38.42 | 47.25 | 46.67 | 49.50 | 50.75 | 56.67 | 63.22 | 71.86 | 81.95 | 85.16 |
Free Cash Flow |
238.90 | 288.81 | 153.63 | 319.35 | 518.04 | 325.46 | 538.18 | 527.78 | 743.27 | 535.52 |
Working Capital |
925.27 | 920.92 | 1,084.24 | 1,085.01 | 997.30 | 1,234.68 | 1,392.22 | 1,679.92 | 2,096.08 | 2,236.76 |
Capital Expenditures |
(42.83) | (17.71) | (16.92) | (16.42) | (16.34) | (24.11) | (33.79) | (34.17) | (29.83) | (34.09) |
Net Current Asset Value |
617.26 | 841.50 | 882.49 | 705.34 | 779.86 | 872.95 | 1,058.80 | 1,278.94 | 1,664.70 | 1,761.76 |
EV/EBIT |
14.55 | 15.59 | 12.98 | 17.43 | 19.64 | 17.65 | 10.93 | 19.11 | 21.82 | 16.86 |
Capex to Sales |
0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
14.03 | 15.76 | 12.83 | 17.01 | 19.81 | 17.54 | 10.92 | 19.22 | 22.67 | 17.70 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.22 | 0.24 | 0.24 | 0.25 | 0.26 | 0.25 | 0.25 | 0.26 | 0.29 | 0.32 |
Cash ROIC |
15.48% | 17.46% | 8.44% | 15.84% | 25.87% | 14.16% | 21.07% | 18.49% | 19.25% | 13.50% |
Accounts Receivable Turnover |
9.11 | 9.10 | 9.28 | 9.21 | 9.46 | 10.18 | 10.06 | 9.43 | 9.09 | 8.65 |
Accounts Payable Turnover |
19.27 | 15.75 | 15.91 | 16.43 | 15.60 | 14.98 | 12.79 | 12.82 | 12.96 | 12.38 |
Inventory Turnover |
4.69 | 4.53 | 4.29 | 4.11 | 4.50 | 4.86 | 4.22 | 3.89 | 4.08 | 3.76 |
Average Days of Payables |
21.25 | 25.68 | 21.33 | 24.21 | 23.96 | 28.82 | 31.75 | 25.48 | 32.15 | 24.56 |
Days of Inventory on Hand |
78.47 | 84.82 | 89.18 | 93.01 | 74.42 | 88.27 | 95.37 | 92.93 | 90.73 | 97.14 |
Average Receivables |
463.53 | 477.05 | 490.02 | 517.86 | 534.55 | 616.87 | 722.78 | 772.47 | 837.88 | 837.06 |
Average Payables |
165.32 | 207.98 | 215.35 | 219.95 | 245.61 | 307.87 | 410.16 | 412.76 | 430.14 | 420.65 |
Average Inventory |
679.49 | 723.16 | 799.22 | 878.96 | 851.04 | 948.38 | 1,242.82 | 1,358.73 | 1,366.36 | 1,385.88 |
Average Assets |
1,831.55 | 1,960.76 | 2,103.96 | 2,358.60 | 2,520.25 | 2,785.10 | 3,287.04 | 3,608.70 | 4,104.35 | 4,447.16 |
Average Common Equity |
1,227.73 | 1,401.36 | 1,576.35 | 1,658.24 | 1,747.26 | 1,888.59 | 2,122.85 | 2,432.23 | 2,840.21 | 3,143.15 |
Columns are period end dates