Watsco Financial Statements
NYSE: WSOConsumer DiscretionaryIndustrial Machinery/ComponentsUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Watsco revenue and earnings
In fiscal 2025, Watsco generated $7.24 billion in revenue, down 5.0% from fiscal 2024, the first decline in the 18 years shown. Net income was $497.0 million (-7.3% year over year), for a net margin of 6.9% versus a median of 7.0% in the prior 5 years. Gross margin was 28.0% (up from 26.8%) and operating margin 10.0%.
Diluted earnings per share came in at $12.25, down from $13.30. Over the last 5 fiscal years, WSO's revenue has grown at a 7.4% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Watsco income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7.24B | 7.62B | 7.28B | 7.27B | 6.28B | 5.05B | 4.77B | 4.55B | 4.34B | 4.22B |
| Revenue growth (YoY) | -4.98% | +4.59% | +0.13% | +15.83% | +24.24% | +5.97% | +4.92% | +4.71% | +2.87% | +2.61% |
| Cost of Revenue | 5.21B | 5.57B | 5.29B | 5.24B | 4.61B | 3.83B | 3.61B | 3.43B | 3.28B | 3.19B |
| Gross Profit | 2.03B | 2.04B | 1.99B | 2.03B | 1.67B | 1.22B | 1.16B | 1.12B | 1.07B | 1.03B |
| Operating Expenses | 1.31B | 1.26B | 1.20B | 1.20B | 1.04B | 821.79M | 790.07M | 748.17M | 711.78M | 688.95M |
| Selling, General & Admin | 1.34B | 1.29B | 1.22B | 1.22B | 1.06B | 833.05M | 800.33M | 757.45M | 715.67M | 688.95M |
| Operating Income | 720.35M | 781.77M | 794.81M | 831.58M | 628.53M | 401.03M | 366.88M | 372.08M | 353.87M | 345.63M |
| Pretax Income | 737.68M | 802.64M | 789.89M | 829.41M | 627.53M | 399.80M | 362.85M | 369.34M | 347.51M | 341.92M |
| Income Tax | 150.09M | 166.90M | 155.75M | 125.72M | 128.80M | 76.62M | 67.08M | 72.81M | 90.22M | 105.94M |
| Net Income | 496.99M | 536.29M | 536.34M | 601.17M | 418.94M | 269.58M | 245.95M | 242.93M | 208.22M | 182.81M |
| Net Income growth (YoY) | -7.33% | -0.01% | -10.78% | +43.50% | +55.41% | +9.61% | +1.24% | +16.67% | +13.90% | +5.71% |
| EPS (Basic) | 12.27 | 13.34 | 13.72 | 15.46 | 10.83 | 7.03 | 6.51 | 6.50 | 5.81 | 5.16 |
| EPS (Diluted) | 12.25 | 13.30 | 13.67 | 15.41 | 10.78 | 7.01 | 6.50 | 6.49 | 5.81 | 5.15 |
| Shares Outstanding (Basic) | 37.84M | 37.39M | 36.41M | — | 35.24M | 35.07M | 34.64M | 34.32M | 32.82M | 32.58M |
| Shares Outstanding (Diluted) | 37.90M | 37.51M | 36.53M | — | 35.42M | 35.15M | 34.68M | 34.37M | 32.86M | 32.62M |
| EBITDA | 764.10M | 822.60M | 829.90M | 863.26M | 656.65M | 426.94M | 391.40M | 394.18M | 375.91M | 365.70M |
| Gross Margin | 28.05% | 26.84% | 27.35% | 27.91% | 26.55% | 24.19% | 24.25% | 24.64% | 24.54% | 24.51% |
| Operating Margin | 9.95% | 10.26% | 10.91% | 11.43% | 10.01% | 7.93% | 7.69% | 8.18% | 8.15% | 8.19% |
| Net Margin | 6.87% | 7.04% | 7.36% | 8.26% | 6.67% | 5.33% | 5.16% | 5.34% | 4.80% | 4.33% |
This table shows 10 annual periods of Watsco's income statement, from FY 2025 back to FY 2016, across 18 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow WSO's reporting calendar. What is a income statement?