Watsco (WSO.B) Financials

$456.30 -17.75 (-3.74%)

As of 05/23/2025 04:00 PM Eastern

Annual Income Statements for Watsco

This table shows Watsco's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	536	536	601	419	270	246	243	208	183	173
Consolidated Net Income / (Loss)	636	634	704	499	323	296	297	257	236	227
Net Income / (Loss) Continuing Operations	636	634	704	499	323	296	297	257	236	227
Total Pre-Tax Income	803	790	829	628	400	363	369	348	342	331
Total Operating Income	782	795	832	629	390	367	372	350	346	337
Total Gross Profit	2,045	1,992	2,030	1,668	1,223	1,157	1,120	1,066	1,035	1,007
Total Revenue	7,618	7,284	7,274	6,280	5,055	4,770	4,547	4,342	4,221	4,113
Operating Revenue	7,618	7,284	7,274	6,280	5,055	4,770	4,547	4,342	4,221	4,113
Total Cost of Revenue	5,574	5,292	5,244	4,613	3,832	3,613	3,426	3,276	3,186	3,106
Operating Cost of Revenue	5,574	5,292	5,244	4,613	3,832	3,613	3,426	3,276	3,186	3,106
Total Operating Expenses	1,293	1,224	1,221	1,058	833	790	757	716	689	671
Selling, General & Admin Expense	1,293	1,224	1,221	1,058	833	800	757	716	689	671
Total Other Income / (Expense), net	51	21	21	18	10	-4.03	6.54	-2.48	-3.71	-5.55
Interest Expense	-21	4.92	2.17	1.00	1.24	4.03	2.74	6.36	3.71	5.55
Interest & Investment Income	31	26	23	19	11	-	9.28	3.89	0.00	-
Income Tax Expense	167	156	126	129	77	67	73	90	106	105
Net Income / (Loss) Attributable to Noncontrolling Interest	99	98	103	80	54	50	54	49	53	54
Basic Earnings per Share	$13.34	$13.72	$15.46	$10.83	$7.03	$6.51	$6.50	$5.81	$5.16	$4.91
Weighted Average Basic Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.40M	35.80M	35.40M	35.20M
Diluted Earnings per Share	$13.30	$13.67	$15.41	$10.78	$7.01	$6.50	$6.49	$5.81	$5.15	$4.90
Weighted Average Diluted Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.40M	35.80M	35.40M	35.20M
Weighted Average Basic & Diluted Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.40M	35.80M	35.40M	35.20M
Cash Dividends to Common per Share	$10.55	$9.80	$8.55	$7.63	$6.93	$6.40	$5.60	$4.60	$3.60	$2.80

This table shows Watsco's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	97	171	181	87	83	171	173	110	138	158
Consolidated Net Income / (Loss)	115	202	215	104	98	201	205	130	157	186
Net Income / (Loss) Continuing Operations	115	202	215	104	98	201	205	130	157	186
Total Pre-Tax Income	143	257	274	129	109	255	262	164	137	236
Total Operating Income	136	250	269	127	108	257	266	165	141	236
Total Gross Profit	468	566	580	431	414	567	563	448	434	551
Total Revenue	1,754	2,160	2,139	1,565	1,603	2,127	2,003	1,551	1,581	2,036
Operating Revenue	1,754	2,160	2,139	1,565	1,603	2,127	2,003	1,551	1,581	2,036
Total Cost of Revenue	1,286	1,594	1,560	1,134	1,189	1,560	1,440	1,102	1,148	1,485
Operating Cost of Revenue	1,286	1,594	1,560	1,134	1,189	1,560	1,440	1,102	1,148	1,485
Total Operating Expenses	338	326	319	310	312	320	304	287	302	322
Selling, General & Admin Expense	338	326	319	310	312	320	304	287	302	322
Total Other Income / (Expense), net	13	17	13	7.93	6.79	7.62	3.82	3.03	5.37	6.44
Interest Expense	-6.71	-6.77	-4.91	-2.47	-1.00	1.89	3.42	0.62	0.01	0.48
Interest & Investment Income	6.59	10	8.07	5.46	5.79	9.51	7.24	3.64	5.38	6.93
Income Tax Expense	28	55	59	25	11	54	57	34	-20	50
Net Income / (Loss) Attributable to Noncontrolling Interest	18	31	33	17	15	30	33	20	19	29
Basic Earnings per Share	$2.43	$4.24	$4.50	$2.17	$2.09	$4.36	$4.43	$2.84	$3.57	$4.04
Weighted Average Basic Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M
Diluted Earnings per Share	$2.42	$4.22	$4.49	$2.17	$2.07	$4.35	$4.42	$2.83	$3.55	$4.03
Weighted Average Diluted Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M
Weighted Average Basic & Diluted Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M

This table details how cash moves in and out of Watsco's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	316	61	29	-28	72	-8.44	2.40	24	21	11
Net Cash From Operating Activities	773	562	572	350	534	336	171	307	282	223
Net Cash From Continuing Operating Activities	764	562	572	350	530	336	171	307	282	223
Net Income / (Loss) Continuing Operations	636	634	704	499	323	296	297	257	236	227
Consolidated Net Income / (Loss)	636	634	704	499	323	296	297	257	236	227
Depreciation Expense	41	35	32	28	26	25	22	22	20	19
Non-Cash Adjustments To Reconcile Net Income	9.57	20	20	18	14	14	12	14	18	14
Changes in Operating Assets and Liabilities, net	78	-127	-183	-196	167	1.07	-160	13	7.72	-37
Net Cash From Investing Activities	-291	-41	-34	-149	-16	-81	-26	-81	-43	-23
Net Cash From Continuing Investing Activities	-291	-41	-34	-149	-16	-81	-26	-81	-43	-23
Purchase of Property, Plant & Equipment	-30	-35	-36	-25	-16	-18	-17	-18	-44	-24
Acquisitions	-5.17	-6.67	-0.05	-129	0.00	-65	-9.39	-64	-	-
Purchase of Investments	-256	0.00	0.00	-	-	-	-	-	-	-
Sale of Property, Plant & Equipment	0.26	1.31	1.86	1.36	0.09	1.38	0.23	0.17	0.74	0.76
Net Cash From Financing Activities	-159	-460	-504	-229	-448	-264	-140	-202	-218	-188
Net Cash From Continuing Financing Activities	-150	-460	-501	-229	-291	-264	-140	-202	-218	-188
Repayment of Debt	0.00	-57	-33	87	-0.20	19	-0.52	-214	-10	-56
Payment of Dividends	-424	-456	-402	-357	-308	-281	-256	-207	-167	-138
Issuance of Common Equity	313	45	20	21	19	14	7.34	18	5.65	5.96
Other Financing Activities, net	-40	-6.87	-87	20	-2.30	-17	-3.78	200	-47	0.96
Effect of Exchange Rate Changes	-7.74	-	-	-	2.07	0.85	-2.25	1.42	-0.23	-1.34

This table details how cash moves in and out of Watsco's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	230	72	-54	69	33	12	22	-6.55	17	1.18
Net Cash From Operating Activities	379	233	58	104	299	353	-42	-47	213	286
Net Cash From Continuing Operating Activities	370	233	58	104	299	353	-42	-47	213	286
Net Income / (Loss) Continuing Operations	115	202	215	104	98	201	205	130	157	186
Consolidated Net Income / (Loss)	115	202	215	104	98	201	205	130	157	186
Depreciation Expense	10	10	10	9.88	9.68	8.79	8.43	8.18	8.24	8.06
Non-Cash Adjustments To Reconcile Net Income	-1.50	-2.51	0.07	14	7.59	-0.33	-1.69	14	2.67	1.56
Changes in Operating Assets and Liabilities, net	246	23	-167	-24	184	143	-254	-200	45	90
Net Cash From Investing Activities	-7.95	-65	-6.35	-211	-13	-10	-7.15	-10	-7.43	-7.52
Net Cash From Continuing Investing Activities	-7.95	-65	-6.35	-211	-13	-10	-7.15	-10	-7.43	-7.52
Purchase of Property, Plant & Equipment	-8.03	-9.80	-6.42	-5.85	-9.98	-9.67	-8.33	-7.51	-9.13	-7.57
Sale of Property, Plant & Equipment	0.08	0.06	0.06	0.06	0.03	0.05	1.18	0.06	1.70	0.06
Net Cash From Financing Activities	-133	-99	-105	178	-252	-328	69	51	-188	-273
Net Cash From Continuing Financing Activities	-125	-99	-106	180	-252	-328	69	51	-188	-271
Payment of Dividends	-109	-109	-109	-97	-170	-96	-95	-95	-154	-86
Issuance of Common Equity	7.30	6.68	6.48	292	9.32	6.55	20	8.75	3.79	8.41
Other Financing Activities, net	-39	0.47	-0.77	-0.44	-4.23	-0.39	-0.04	-2.22	-85	-0.29

This table presents Watsco's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	4,480	3,729	3,488	3,086	2,484	2,556	2,161	2,047	1,875	1,788
Total Current Assets	3,080	2,392	2,299	1,961	1,484	1,547	1,442	1,337	1,240	1,181
Cash & Equivalents	526	210	148	118	146	74	83	80	56	35
Short-Term Investments	256	0.00	-	-	-	-	-	-	-	-
Accounts Receivable	878	798	747	698	535	534	502	478	476	451
Inventories, net	1,385	1,347	1,370	1,115	781	921	837	761	685	674
Other Current Assets	35	37	34	29	22	18	20	17	23	21
Plant, Property, & Equipment, net	141	136	125	111	98	99	91	91	91	63
Total Noncurrent Assets	1,259	1,201	1,064	1,013	902	911	628	618	544	544
Long-Term Investments	169	146	133	115	98	95	80	-	-	-
Goodwill	452	457	431	434	412	411	392	383	380	378
Intangible Assets	208	218	175	187	170	172	148	161	159	160
Other Noncurrent Operating Assets	430	379	325	278	221	233	8.18	74	5.69	5.67
Total Liabilities & Shareholders' Equity	4,480	3,729	3,488	3,086	2,484	2,556	2,161	2,047	1,875	1,788
Total Liabilities	1,415	1,113	1,240	1,088	705	841	559	496	623	585
Total Current Liabilities	984	712	907	727	487	462	358	416	315	270
Short-Term Debt	110	100	147	85	72	69	0.25	0.24	0.20	0.18
Accounts Payable	491	369	456	364	252	240	200	230	185	145
Accrued Expenses	383	242	303	278	164	153	157	186	129	125
Total Noncurrent Liabilities	431	401	333	362	217	380	202	79	308	314
Long-Term Debt	0.00	15	0.00	89	0.00	156	136	22	236	246
Capital Lease Obligations	337	289	244	196	144	156	-	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	94	96	90	77	73	68	66	57	72	69
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,064	2,616	2,248	1,997	1,780	1,715	1,602	1,551	1,252	1,204
Total Preferred & Common Equity	2,657	2,230	1,889	1,665	1,487	1,435	1,348	1,298	1,006	957
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,657	2,230	1,889	1,665	1,487	1,435	1,348	1,298	1,006	957
Common Stock	1,494	1,176	995	1,026	973	929	853	825	613	623
Retained Earnings	1,296	1,183	1,030	761	636	633	628	595	550	495
Treasury Stock	-73	-87	-87	-87	-87	-87	-87	-87	-114	-114
Accumulated Other Comprehensive Income / (Loss)	-60	-42	-48	-34	-35	-39	-46	-34	-44	-47
Noncontrolling Interest	407	386	359	332	293	279	254	253	246	246

This table presents Watsco's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,517	4,395	4,357	4,039	4,103	3,801	3,585
Total Current Assets	3,133	3,034	2,998	2,731	2,883	2,598	2,410
Cash & Equivalents	294	225	279	175	163	141	130
Short-Term Investments	256	200	200	-	-	-	-
Accounts Receivable	945	1,001	832	949	991	811	860
Inventories, net	1,597	1,573	1,656	1,550	1,689	1,614	1,385
Other Current Assets	42	35	32	56	40	31	35
Plant, Property, & Equipment, net	140	138	138	134	128	127	122
Total Noncurrent Assets	1,244	1,223	1,220	1,174	1,092	1,076	1,053
Long-Term Investments	162	157	152	138	141	136	127
Goodwill	459	458	459	492	432	431	430
Intangible Assets	212	212	214	172	176	174	175
Other Noncurrent Operating Assets	412	396	395	373	344	335	320
Total Liabilities & Shareholders' Equity	4,517	4,395	4,357	4,039	4,103	3,801	3,585
Total Liabilities	1,356	1,351	1,430	1,373	1,651	1,492	1,268
Total Current Liabilities	933	945	1,026	888	956	953	940
Short-Term Debt	107	104	103	99	93	93	89
Accounts Payable	549	564	688	509	602	593	474
Accrued Expenses	276	277	236	280	260	267	376
Total Noncurrent Liabilities	422	406	403	486	695	539	329
Long-Term Debt	0.00	0.00	0.00	106	343	198	8.80
Capital Lease Obligations	321	307	306	285	259	251	238
Noncurrent Deferred & Payable Income Tax Liabilities	101	99	97	95	93	91	82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,162	3,044	2,928	2,666	2,452	2,308	2,316
Total Preferred & Common Equity	2,696	2,611	2,526	2,224	2,038	1,929	1,909
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,696	2,611	2,526	2,224	2,038	1,929	1,909
Common Stock	1,509	1,489	1,475	1,161	1,045	1,019	1,069
Retained Earnings	1,308	1,246	1,173	1,197	1,122	1,045	977
Treasury Stock	-74	-74	-74	-87	-87	-87	-87
Accumulated Other Comprehensive Income / (Loss)	-47	-50	-48	-47	-43	-48	-50
Noncontrolling Interest	465	433	401	442	414	379	407

This table displays calculated financial ratios and metrics derived from Watsco's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.59%	0.13%	15.83%	24.24%	5.97%	4.92%	4.71%	2.87%	2.61%	4.28%
EBITDA Growth	-0.88%	-3.86%	31.46%	57.97%	6.20%	-0.71%	5.96%	1.73%	2.76%	9.95%
EBIT Growth	-1.64%	-4.42%	32.31%	61.26%	6.24%	-1.40%	6.31%	1.26%	2.64%	10.14%
NOPAT Growth	-2.96%	-9.56%	41.24%	58.55%	5.35%	0.11%	15.28%	8.63%	3.57%	8.48%
Net Income Growth	0.25%	-9.88%	41.10%	54.32%	9.26%	-0.25%	15.25%	9.03%	4.18%	8.54%
EPS Growth	-2.71%	-11.29%	42.95%	53.78%	7.85%	0.15%	11.70%	12.82%	5.10%	13.43%
Operating Cash Flow Growth	37.57%	-1.75%	63.62%	-34.58%	59.15%	96.87%	-44.36%	8.80%	26.42%	53.71%
Free Cash Flow Firm Growth	117.71%	-31.00%	309.57%	-76.03%	1,021.68%	-124.51%	9.59%	-10.64%	-2.65%	63.36%
Invested Capital Growth	-3.88%	12.98%	10.52%	21.81%	-9.08%	22.37%	5.48%	4.28%	1.21%	0.20%
Revenue Q/Q Growth	2.02%	0.30%	0.96%	6.03%	1.66%	1.73%	0.60%	1.18%	0.23%	0.66%
EBITDA Q/Q Growth	3.69%	-3.72%	2.27%	11.04%	0.37%	-2.26%	1.88%	0.60%	1.09%	0.72%
EBIT Q/Q Growth	3.78%	-4.04%	2.23%	11.45%	0.38%	-2.65%	1.98%	0.49%	1.13%	0.67%
NOPAT Q/Q Growth	2.16%	-9.10%	10.09%	10.71%	-0.49%	-2.37%	1.25%	4.95%	1.40%	0.56%
Net Income Q/Q Growth	2.82%	-8.56%	9.58%	8.52%	3.88%	-1.53%	-1.22%	5.23%	1.52%	0.69%
EPS Q/Q Growth	2.70%	-9.77%	10.70%	7.91%	3.70%	-1.07%	-1.82%	6.80%	1.58%	1.66%
Operating Cash Flow Q/Q Growth	11.59%	17.95%	47.12%	-27.37%	4.57%	12.67%	-8.89%	-5.63%	4.58%	9.77%
Free Cash Flow Firm Q/Q Growth	26.81%	30.25%	64.50%	-31.74%	-23.26%	27.31%	59.46%	6.01%	-9.95%	11.67%
Invested Capital Q/Q Growth	-11.02%	-6.24%	-1.52%	4.28%	-0.87%	-7.77%	-7.90%	-3.73%	-3.95%	-5.77%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.84%	27.35%	27.91%	26.55%	24.19%	24.25%	24.64%	24.54%	24.51%	24.49%
EBITDA Margin	10.80%	11.39%	11.87%	10.46%	8.22%	8.20%	8.67%	8.57%	8.66%	8.65%
Operating Margin	10.26%	10.91%	11.43%	10.01%	7.71%	7.69%	8.18%	8.06%	8.19%	8.19%
EBIT Margin	10.26%	10.91%	11.43%	10.01%	7.71%	7.69%	8.18%	8.06%	8.19%	8.19%
Profit (Net Income) Margin	8.34%	8.71%	9.67%	7.94%	6.39%	6.20%	6.52%	5.93%	5.59%	5.51%
Tax Burden Percent	79.21%	80.28%	84.84%	79.48%	80.83%	81.51%	80.29%	74.04%	69.02%	68.39%
Interest Burden Percent	102.67%	99.38%	99.74%	99.84%	102.57%	98.90%	99.26%	99.29%	98.93%	98.35%
Effective Tax Rate	20.79%	19.72%	15.16%	20.52%	19.17%	18.49%	19.71%	25.96%	30.98%	31.61%
Return on Invested Capital (ROIC)	23.70%	25.41%	31.41%	25.71%	17.13%	17.08%	19.48%	17.72%	16.76%	16.30%
ROIC Less NNEP Spread (ROIC-NNEP)	16.43%	20.43%	29.92%	24.25%	25.92%	13.53%	24.64%	14.71%	15.45%	14.75%
Return on Net Nonoperating Assets (RNNOA)	-1.31%	0.67%	1.74%	0.70%	1.37%	0.76%	-0.67%	0.64%	2.46%	3.10%
Return on Equity (ROE)	22.38%	26.07%	33.15%	26.41%	18.50%	17.84%	18.81%	18.36%	19.22%	19.40%
Cash Return on Invested Capital (CROIC)	27.66%	13.22%	21.42%	6.05%	26.64%	-3.04%	14.14%	13.53%	15.56%	16.10%
Operating Return on Assets (OROA)	19.05%	22.02%	25.30%	22.57%	15.47%	15.56%	17.68%	17.85%	18.87%	18.82%
Return on Assets (ROA)	15.49%	17.57%	21.41%	17.91%	12.82%	12.54%	14.09%	13.12%	12.88%	12.66%
Return on Common Equity (ROCE)	19.26%	22.08%	27.75%	22.03%	15.47%	14.97%	15.79%	15.09%	15.37%	15.29%
Return on Equity Simple (ROE_SIMPLE)	23.93%	28.44%	37.25%	29.96%	21.74%	20.61%	22.00%	19.82%	23.46%	23.66%
Net Operating Profit after Tax (NOPAT)	619	638	706	500	315	299	299	259	239	230
NOPAT Margin	8.13%	8.76%	9.70%	7.95%	6.23%	6.27%	6.57%	5.97%	5.65%	5.60%
Net Nonoperating Expense Percent (NNEP)	7.27%	4.98%	1.49%	1.45%	-8.79%	3.55%	-5.16%	3.01%	1.31%	1.55%
Return On Investment Capital (ROIC_SIMPLE)	17.63%	21.12%	26.74%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	73.16%	72.65%	72.09%	73.45%	75.81%	75.75%	75.36%	75.46%	75.49%	75.51%
SG&A Expenses to Revenue	16.98%	16.80%	16.79%	16.85%	16.48%	16.78%	16.66%	16.48%	16.32%	16.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.98%	16.80%	16.79%	16.85%	16.48%	16.56%	16.66%	16.48%	16.32%	16.30%
Earnings before Interest and Taxes (EBIT)	782	795	832	629	390	367	372	350	346	337
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	823	830	863	657	416	391	394	372	366	356
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.16	7.35	4.82	6.73	5.27	4.14	3.20	3.76	4.08	3.27
Price to Tangible Book Value (P/TBV)	9.53	10.55	7.10	10.73	8.66	6.97	5.35	6.48	8.77	7.49
Price to Revenue (P/Rev)	2.50	2.25	1.25	1.78	1.55	1.24	0.95	1.12	0.97	0.76
Price to Earnings (P/E)	35.49	30.57	15.15	26.75	29.04	24.13	17.78	23.45	22.43	18.12
Dividend Yield	2.24%	2.35%	3.64%	2.64%	3.40%	4.11%	4.85%	3.37%	3.12%	3.15%
Earnings Yield	2.82%	3.27%	6.60%	3.74%	3.44%	4.14%	5.62%	4.26%	4.46%	5.52%
Enterprise Value to Invested Capital (EV/IC)	7.39	6.32	4.06	5.47	4.62	3.34	2.89	3.40	3.16	2.54
Enterprise Value to Revenue (EV/Rev)	2.49	2.31	1.32	1.86	1.60	1.35	1.00	1.17	1.07	0.87
Enterprise Value to EBITDA (EV/EBITDA)	23.02	20.28	11.10	17.78	19.47	16.42	11.53	13.65	12.38	10.09
Enterprise Value to EBIT (EV/EBIT)	24.22	21.18	11.52	18.58	20.76	17.52	12.22	14.51	13.10	10.66
Enterprise Value to NOPAT (EV/NOPAT)	30.58	26.38	13.58	23.37	25.69	21.49	15.22	19.60	18.98	15.59
Enterprise Value to Operating Cash Flow (EV/OCF)	24.49	29.95	16.75	33.40	15.15	19.14	26.65	16.57	16.07	16.11
Enterprise Value to Free Cash Flow (EV/FCFF)	26.20	50.71	19.91	99.40	16.52	0.00	20.96	25.66	20.44	15.79
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.15	0.17	0.19	0.12	0.22	0.08	0.01	0.19	0.20
Long-Term Debt to Equity	0.11	0.12	0.11	0.14	0.08	0.18	0.08	0.01	0.19	0.20
Financial Leverage	-0.08	0.03	0.06	0.03	0.05	0.06	-0.03	0.04	0.16	0.21
Leverage Ratio	1.45	1.48	1.55	1.47	1.44	1.42	1.33	1.40	1.49	1.53
Compound Leverage Factor	1.48	1.47	1.54	1.47	1.48	1.41	1.32	1.39	1.48	1.51
Debt to Total Capital	12.74%	13.40%	14.80%	15.62%	10.83%	18.20%	7.83%	1.42%	15.85%	16.97%
Short-Term Debt to Total Capital	3.14%	3.32%	5.57%	3.57%	3.60%	3.31%	0.01%	0.02%	0.01%	0.01%
Long-Term Debt to Total Capital	9.60%	10.08%	9.23%	12.05%	7.23%	14.88%	7.81%	1.40%	15.84%	16.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	11.60%	12.79%	13.61%	14.05%	14.68%	13.33%	14.61%	16.08%	16.53%	17.00%
Common Equity to Total Capital	75.66%	73.81%	71.59%	70.34%	74.49%	68.48%	77.56%	82.50%	67.61%	66.03%
Debt to EBITDA	0.54	0.49	0.45	0.56	0.52	0.97	0.35	0.06	0.64	0.69
Net Debt to EBITDA	-0.61	0.06	0.13	0.21	-0.07	0.54	-0.07	-0.16	0.49	0.59
Long-Term Debt to EBITDA	0.41	0.37	0.28	0.43	0.35	0.80	0.34	0.06	0.64	0.69
Debt to NOPAT	0.72	0.63	0.55	0.74	0.69	1.28	0.46	0.09	0.99	1.07
Net Debt to NOPAT	-0.81	0.08	0.16	0.27	-0.09	0.71	-0.09	-0.22	0.75	0.92
Long-Term Debt to NOPAT	0.54	0.48	0.35	0.57	0.46	1.04	0.45	0.09	0.99	1.07
Altman Z-Score	11.31	12.48	8.17	9.71	10.06	7.43	8.31	9.54	7.81	7.14
Noncontrolling Interest Sharing Ratio	13.97%	15.32%	16.29%	16.56%	16.38%	16.08%	16.08%	17.80%	20.05%	21.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.13	3.36	2.54	2.70	3.05	3.35	4.03	3.21	3.94	4.37
Quick Ratio	1.69	1.42	0.99	1.12	1.40	1.32	1.64	1.34	1.69	1.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	723	332	481	117	490	-53	217	198	221	227
Operating Cash Flow to CapEx	2,591.87%	1,644.49%	1,692.75%	1,450.00%	3,269.97%	2,044.27%	1,007.72%	1,730.97%	657.74%	971.52%
Free Cash Flow to Firm to Interest Expense	0.00	67.47	222.21	117.93	395.45	-13.18	79.15	31.10	59.64	41.01
Operating Cash Flow to Interest Expense	0.00	114.22	264.19	350.97	431.30	83.28	62.25	48.17	75.88	40.17
Operating Cash Flow Less CapEx to Interest Expense	0.00	107.27	248.58	326.77	418.11	79.20	56.07	45.39	64.34	36.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.86	2.02	2.21	2.25	2.01	2.02	2.16	2.21	2.30	2.30
Accounts Receivable Turnover	9.09	9.43	10.06	10.18	9.46	9.21	9.28	9.10	9.11	9.29
Inventory Turnover	4.08	3.89	4.22	4.86	4.50	4.11	4.29	4.53	4.69	4.59
Fixed Asset Turnover	55.05	55.67	61.53	60.03	51.38	50.33	49.90	47.79	55.09	70.80
Accounts Payable Turnover	12.96	12.82	12.79	14.98	15.60	16.43	15.91	15.75	19.27	19.50
Days Sales Outstanding (DSO)	40.14	38.71	36.27	35.85	38.60	39.62	39.34	40.10	40.09	39.28
Days Inventory Outstanding (DIO)	89.48	93.72	86.50	75.05	81.06	88.79	85.14	80.56	77.84	79.44
Days Payable Outstanding (DPO)	28.17	28.47	28.55	24.36	23.39	22.22	22.94	23.17	18.94	18.72
Cash Conversion Cycle (CCC)	101.45	103.96	94.22	86.54	96.26	106.19	101.54	97.50	98.99	100.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,561	2,665	2,359	2,134	1,752	1,927	1,575	1,493	1,432	1,414
Invested Capital Turnover	2.92	2.90	3.24	3.23	2.75	2.72	2.96	2.97	2.97	2.91
Increase / (Decrease) in Invested Capital	-103	306	224	382	-175	352	82	61	17	2.84
Enterprise Value (EV)	18,935	16,832	9,578	11,676	8,093	6,427	4,546	5,078	4,527	3,591
Market Capitalization	19,031	16,397	9,109	11,207	7,828	5,936	4,319	4,883	4,101	3,134
Book Value per Share	$65.80	$56.60	$48.77	$42.94	$38.63	$37.67	$36.01	$36.31	$28.31	$27.13
Tangible Book Value per Share	$49.44	$39.46	$33.13	$26.93	$23.50	$22.37	$21.59	$21.10	$13.16	$11.86
Total Capital	3,512	3,021	2,639	2,367	1,996	2,096	1,738	1,573	1,488	1,450
Total Debt	447	405	391	370	216	381	136	22	236	246
Total Long-Term Debt	337	305	244	285	144	312	136	22	236	246
Net Debt	-503	48	110	137	-28	212	-27	-58	180	211
Capital Expenditures (CapEx)	30	34	34	24	16	16	17	18	43	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,424	1,570	1,392	1,201	923	1,080	1,002	841	869	876
Debt-free Net Working Capital (DFNWC)	2,206	1,780	1,539	1,319	1,069	1,154	1,084	921	925	911
Net Working Capital (NWC)	2,096	1,680	1,392	1,235	997	1,085	1,084	921	925	911
Net Nonoperating Expense (NNE)	-17	3.95	1.84	0.79	-8.10	3.29	2.20	1.83	2.56	3.79
Net Nonoperating Obligations (NNO)	-503	48	110	137	-28	212	-27	-58	180	211
Total Depreciation and Amortization (D&A)	41	35	32	28	26	25	22	22	20	19
Debt-free, Cash-free Net Working Capital to Revenue	18.70%	21.56%	19.13%	19.12%	18.26%	22.64%	22.03%	19.36%	20.60%	21.30%
Debt-free Net Working Capital to Revenue	28.96%	24.44%	21.16%	21.01%	21.15%	24.20%	23.85%	21.22%	21.93%	22.15%
Net Working Capital to Revenue	27.51%	23.06%	19.14%	19.66%	19.73%	22.74%	23.85%	21.21%	21.92%	22.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$13.34	$13.72	$15.46	$10.83	$7.03	$6.51	$6.50	$5.81	$5.16	$4.91
Adjusted Weighted Average Basic Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.53M	37.31M	35.61M	35.33M
Adjusted Diluted Earnings per Share	$13.30	$13.67	$15.41	$10.78	$7.01	$6.50	$6.49	$5.81	$5.15	$4.90
Adjusted Weighted Average Diluted Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.53M	37.31M	35.61M	35.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.41M	39.50M	38.83M	38.87M	38.61M	38.28M	37.53M	37.31M	35.61M	35.33M
Normalized Net Operating Profit after Tax (NOPAT)	619	638	706	500	315	299	299	259	239	230
Normalized NOPAT Margin	8.13%	8.76%	9.70%	7.95%	6.23%	6.27%	6.57%	5.97%	5.65%	5.60%
Pre Tax Income Margin	10.54%	10.84%	11.40%	9.99%	7.91%	7.61%	8.12%	8.00%	8.10%	8.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	161.55	384.10	631.05	314.58	90.99	135.80	55.00	93.09	60.71
NOPAT to Interest Expense	0.00	129.69	325.88	501.53	254.29	74.17	109.03	40.72	64.25	41.52
EBIT Less CapEx to Interest Expense	0.00	154.60	368.49	606.85	301.39	86.92	129.62	52.22	81.55	56.57
NOPAT Less CapEx to Interest Expense	0.00	122.75	310.27	477.33	241.10	70.10	102.85	37.94	52.71	37.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	66.62%	71.95%	57.07%	71.48%	95.34%	94.90%	86.35%	80.45%	70.56%	61.05%
Augmented Payout Ratio	66.62%	71.95%	57.07%	71.48%	95.34%	94.90%	86.35%	80.45%	70.56%	61.05%

This table displays calculated financial ratios and metrics derived from Watsco's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.40%	1.56%	6.80%	0.93%	1.39%	4.47%	-6.12%	1.78%	4.59%	14.21%
EBITDA Growth	24.91%	-1.78%	1.71%	-21.11%	-21.43%	8.63%	-7.03%	-0.96%	14.69%	14.28%
EBIT Growth	26.39%	-2.48%	1.17%	-23.19%	-23.70%	8.62%	-7.45%	-1.36%	14.75%	14.24%
NOPAT Growth	13.35%	-2.86%	1.31%	-21.85%	-40.14%	8.34%	-8.09%	-0.96%	68.84%	13.05%
Net Income Growth	17.84%	0.51%	4.50%	-20.03%	-37.80%	7.76%	-8.91%	-3.35%	64.31%	12.94%
EPS Growth	16.91%	-2.99%	1.58%	-23.32%	-41.69%	7.94%	-10.34%	-2.41%	72.33%	11.33%
Operating Cash Flow Growth	26.89%	-33.97%	238.26%	318.69%	40.14%	23.34%	-123.90%	53.34%	612.80%	20.19%
Free Cash Flow Firm Growth	201.89%	165.36%	218.82%	-32.96%	-233.97%	-51.34%	-5.29%	95.09%	78.11%	-41.86%
Invested Capital Growth	-3.88%	1.27%	1.08%	5.24%	12.98%	18.67%	14.48%	6.42%	10.52%	17.03%
Revenue Q/Q Growth	-18.80%	0.97%	36.70%	-2.38%	-24.62%	6.18%	29.18%	-1.93%	-22.33%	-4.59%
EBITDA Q/Q Growth	-43.73%	-6.50%	104.38%	16.17%	-55.75%	-3.18%	58.53%	15.69%	-38.82%	-17.15%
EBIT Q/Q Growth	-45.58%	-6.90%	112.43%	17.44%	-58.01%	-3.42%	61.29%	16.65%	-40.22%	-17.71%
NOPAT Q/Q Growth	-44.09%	-6.86%	106.13%	5.60%	-52.09%	-2.87%	59.01%	-19.11%	-13.28%	-17.59%
Net Income Q/Q Growth	-42.88%	-6.06%	105.88%	6.67%	-51.28%	-2.33%	57.55%	-17.03%	-15.60%	-17.44%
EPS Q/Q Growth	-42.65%	-6.01%	106.91%	4.83%	-52.41%	-1.58%	56.18%	-20.28%	-11.91%	-18.26%
Operating Cash Flow Q/Q Growth	62.78%	303.16%	-44.33%	-65.27%	-15.29%	944.20%	11.94%	-122.25%	-25.45%	63.60%
Free Cash Flow Firm Q/Q Growth	33.17%	-11.12%	656.40%	84.53%	14.58%	-61.59%	-522.62%	61.14%	61.29%	-12.41%
Invested Capital Q/Q Growth	-11.02%	0.15%	6.20%	1.56%	-6.24%	-0.05%	10.57%	9.03%	-1.52%	-3.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.69%	26.21%	27.10%	27.52%	25.85%	26.66%	28.09%	28.90%	27.42%	27.06%
EBITDA Margin	8.36%	12.07%	13.03%	8.72%	7.32%	12.48%	13.69%	11.15%	9.45%	12.00%
Operating Margin	7.76%	11.59%	12.56%	8.09%	6.72%	12.07%	13.26%	10.62%	8.93%	11.60%
EBIT Margin	7.76%	11.59%	12.56%	8.09%	6.72%	12.07%	13.26%	10.62%	8.93%	11.60%
Profit (Net Income) Margin	6.57%	9.34%	10.03%	6.66%	6.10%	9.43%	10.25%	8.41%	9.94%	9.14%
Tax Burden Percent	80.60%	78.46%	78.42%	80.82%	89.88%	78.76%	78.31%	79.43%	114.56%	78.96%
Interest Burden Percent	104.93%	102.71%	101.83%	101.95%	100.93%	99.26%	98.71%	99.63%	97.13%	99.80%
Effective Tax Rate	19.40%	21.54%	21.58%	19.18%	10.12%	21.24%	21.69%	20.57%	-14.56%	21.04%
Return on Invested Capital (ROIC)	18.25%	23.73%	25.63%	18.07%	17.52%	26.35%	27.97%	24.71%	33.13%	29.73%
ROIC Less NNEP Spread (ROIC-NNEP)	15.87%	13.84%	29.11%	27.59%	18.65%	25.19%	27.15%	24.54%	29.37%	29.00%
Return on Net Nonoperating Assets (RNNOA)	-1.27%	-0.26%	1.17%	0.22%	0.61%	1.29%	3.81%	3.35%	1.71%	0.69%
Return on Equity (ROE)	16.98%	23.48%	26.80%	18.29%	18.13%	27.64%	31.77%	28.06%	34.84%	30.42%
Cash Return on Invested Capital (CROIC)	27.66%	19.93%	20.34%	17.99%	13.22%	9.73%	12.26%	22.02%	21.42%	13.17%
Operating Return on Assets (OROA)	14.41%	20.22%	21.98%	14.47%	13.57%	22.99%	24.11%	21.33%	19.77%	25.05%
Return on Assets (ROA)	12.19%	16.29%	17.55%	11.92%	12.31%	17.97%	18.64%	16.88%	21.99%	19.74%
Return on Common Equity (ROCE)	14.61%	19.82%	22.66%	15.57%	15.35%	22.93%	26.33%	23.36%	29.17%	24.92%
Return on Equity Simple (ROE_SIMPLE)	0.00%	22.93%	23.64%	24.07%	0.00%	31.18%	33.33%	36.25%	0.00%	33.64%
Net Operating Profit after Tax (NOPAT)	110	196	211	102	97	202	208	131	162	187
NOPAT Margin	6.26%	9.09%	9.85%	6.53%	6.04%	9.50%	10.39%	8.44%	10.23%	9.16%
Net Nonoperating Expense Percent (NNEP)	2.38%	9.89%	-3.49%	-9.52%	-1.13%	1.17%	0.82%	0.16%	3.77%	0.74%
Return On Investment Capital (ROIC_SIMPLE)	3.13%	-	-	-	3.21%	-	-	-	6.13%	-
Cost of Revenue to Revenue	73.31%	73.79%	72.90%	72.48%	74.15%	73.34%	71.91%	71.10%	72.58%	72.94%
SG&A Expenses to Revenue	19.30%	15.11%	14.91%	19.78%	19.49%	15.04%	15.18%	18.51%	19.08%	15.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.30%	15.11%	14.91%	19.78%	19.49%	15.04%	15.18%	18.51%	19.08%	15.79%
Earnings before Interest and Taxes (EBIT)	136	250	269	127	108	257	266	165	141	236
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	147	261	279	136	117	265	274	173	149	244
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.16	7.32	7.11	6.66	7.35	6.44	7.07	6.16	4.82	4.97
Price to Tangible Book Value (P/TBV)	9.53	9.74	9.57	9.08	10.55	9.18	10.07	8.98	7.10	7.28
Price to Revenue (P/Rev)	2.50	2.64	2.50	2.30	2.25	1.97	2.01	1.63	1.25	1.32
Price to Earnings (P/E)	35.49	37.80	35.58	32.76	30.57	24.21	24.92	19.87	15.15	17.49
Dividend Yield	2.24%	2.11%	2.18%	2.30%	2.35%	2.61%	2.51%	2.96%	3.64%	3.41%
Earnings Yield	2.82%	2.65%	2.81%	3.05%	3.27%	4.13%	4.01%	5.03%	6.60%	5.72%
Enterprise Value to Invested Capital (EV/IC)	7.39	6.92	6.55	6.28	6.32	5.26	5.35	4.87	4.06	4.17
Enterprise Value to Revenue (EV/Rev)	2.49	2.67	2.53	2.33	2.31	2.06	2.12	1.72	1.32	1.38
Enterprise Value to EBITDA (EV/EBITDA)	23.02	25.10	23.60	21.42	20.28	17.33	18.09	14.54	11.10	11.82
Enterprise Value to EBIT (EV/EBIT)	24.22	26.44	24.79	22.46	21.18	18.04	18.83	15.10	11.52	12.26
Enterprise Value to NOPAT (EV/NOPAT)	30.58	32.86	30.77	27.88	26.38	21.28	22.16	17.78	13.58	15.56
Enterprise Value to Operating Cash Flow (EV/OCF)	24.49	28.75	23.17	23.83	29.95	31.36	37.13	20.00	16.75	25.66
Enterprise Value to Free Cash Flow (EV/FCFF)	26.20	34.94	32.39	35.79	50.71	58.62	46.57	22.80	19.91	34.11
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.15	0.14	0.14	0.14	0.15	0.18	0.28	0.23	0.17	0.15
Long-Term Debt to Equity	0.11	0.10	0.10	0.10	0.12	0.15	0.25	0.19	0.11	0.11
Financial Leverage	-0.08	-0.02	0.04	0.01	0.03	0.05	0.14	0.14	0.06	0.02
Leverage Ratio	1.45	1.47	1.55	1.56	1.48	1.53	1.69	1.66	1.55	1.54
Compound Leverage Factor	1.52	1.51	1.57	1.59	1.50	1.52	1.67	1.65	1.50	1.54
Debt to Total Capital	12.74%	11.93%	11.91%	12.26%	13.40%	15.50%	22.08%	18.98%	14.80%	12.68%
Short-Term Debt to Total Capital	3.14%	2.99%	3.02%	3.08%	3.32%	3.12%	2.96%	3.25%	5.57%	3.36%
Long-Term Debt to Total Capital	9.60%	8.94%	8.89%	9.18%	10.08%	12.37%	19.12%	15.73%	9.23%	9.32%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	11.60%	12.97%	12.54%	12.02%	12.79%	14.00%	13.17%	13.32%	13.61%	15.36%
Common Equity to Total Capital	75.66%	75.10%	75.55%	75.71%	73.81%	70.50%	64.75%	67.70%	71.59%	71.96%
Debt to EBITDA	0.54	0.54	0.52	0.52	0.49	0.57	0.83	0.63	0.45	0.40
Net Debt to EBITDA	-0.61	-0.36	-0.21	-0.28	0.06	0.20	0.47	0.31	0.13	0.09
Long-Term Debt to EBITDA	0.41	0.40	0.38	0.39	0.37	0.45	0.72	0.52	0.28	0.29
Debt to NOPAT	0.72	0.71	0.67	0.67	0.63	0.70	1.01	0.77	0.55	0.52
Net Debt to NOPAT	-0.81	-0.47	-0.28	-0.36	0.08	0.25	0.57	0.37	0.16	0.12
Long-Term Debt to NOPAT	0.54	0.53	0.50	0.50	0.48	0.56	0.88	0.64	0.35	0.39
Altman Z-Score	10.84	11.56	11.11	9.75	11.87	9.23	8.14	7.75	7.52	7.59
Noncontrolling Interest Sharing Ratio	13.97%	15.57%	15.42%	14.91%	15.32%	17.04%	17.12%	16.74%	16.29%	18.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.13	3.36	3.21	2.92	3.36	3.08	3.02	2.73	2.54	2.57
Quick Ratio	1.69	1.60	1.51	1.28	1.42	1.27	1.21	1.00	0.99	1.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	213	160	180	-32	-209	-245	-152	-24	-63	-162
Operating Cash Flow to CapEx	4,765.40%	2,391.00%	908.50%	1,792.05%	3,001.45%	3,662.92%	-584.03%	-636.61%	2,867.89%	3,801.65%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-129.63	-44.40	-39.60	-4,476.23	-335.17
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	186.52	-12.23	-77.11	15,220.29	591.74
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	181.43	-14.32	-89.22	14,689.57	576.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.86	1.75	1.75	1.79	2.02	1.91	1.82	2.01	2.21	2.16
Accounts Receivable Turnover	9.09	7.89	7.46	8.88	9.43	8.03	7.27	9.12	10.06	8.84
Inventory Turnover	4.08	3.48	3.34	3.26	3.89	3.58	3.27	3.51	4.22	4.28
Fixed Asset Turnover	55.05	54.43	55.82	55.07	55.67	56.79	57.92	60.35	61.53	63.34
Accounts Payable Turnover	12.96	10.35	9.33	8.31	12.82	10.68	8.43	9.99	12.79	11.19
Days Sales Outstanding (DSO)	40.14	46.28	48.90	41.10	38.71	45.46	50.23	40.02	36.27	41.30
Days Inventory Outstanding (DIO)	89.48	104.86	109.41	112.10	93.72	102.01	111.77	103.98	86.50	85.25
Days Payable Outstanding (DPO)	28.17	35.28	39.12	43.91	28.47	34.19	43.32	36.54	28.55	32.62
Cash Conversion Cycle (CCC)	101.45	115.86	119.19	109.29	103.96	113.29	118.69	107.47	94.22	93.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,561	2,878	2,874	2,706	2,665	2,842	2,843	2,572	2,359	2,395
Invested Capital Turnover	2.92	2.61	2.60	2.77	2.90	2.77	2.69	2.93	3.24	3.24
Increase / (Decrease) in Invested Capital	-103	36	31	135	306	447	360	155	224	348
Enterprise Value (EV)	18,935	19,915	18,831	16,995	16,832	14,940	15,212	12,526	9,578	9,975
Market Capitalization	19,031	19,733	18,568	16,815	16,397	14,322	14,406	11,883	9,109	9,489
Book Value per Share	$65.80	$66.84	$64.79	$62.69	$56.60	$56.93	$52.31	$49.68	$48.77	$48.95
Tangible Book Value per Share	$49.44	$50.22	$48.16	$45.98	$39.46	$39.93	$36.72	$34.09	$33.13	$33.43
Total Capital	3,512	3,590	3,456	3,337	3,021	3,155	3,147	2,849	2,639	2,653
Total Debt	447	428	412	409	405	489	695	541	391	336
Total Long-Term Debt	337	321	307	306	305	390	602	448	244	247
Net Debt	-503	-284	-170	-221	48	176	391	263	110	79
Capital Expenditures (CapEx)	7.95	9.74	6.36	5.79	9.95	9.62	7.15	7.45	7.43	7.52
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,424	1,757	1,769	1,596	1,570	1,766	1,857	1,596	1,392	1,429
Debt-free Net Working Capital (DFNWC)	2,206	2,307	2,194	2,075	1,780	1,941	2,020	1,737	1,539	1,560
Net Working Capital (NWC)	2,096	2,200	2,089	1,972	1,680	1,843	1,927	1,645	1,392	1,470
Net Nonoperating Expense (NNE)	-5.41	-5.31	-3.85	-2.00	-0.90	1.49	2.67	0.49	4.65	0.38
Net Nonoperating Obligations (NNO)	-503	-284	-170	-221	48	176	391	263	110	79
Total Depreciation and Amortization (D&A)	10	10	10	9.88	9.68	8.79	8.43	8.18	8.24	8.06
Debt-free, Cash-free Net Working Capital to Revenue	18.70%	23.53%	23.79%	21.87%	21.56%	24.33%	25.90%	21.86%	19.13%	19.84%
Debt-free Net Working Capital to Revenue	28.96%	30.90%	29.51%	28.43%	24.44%	26.74%	28.17%	23.79%	21.16%	21.65%
Net Working Capital to Revenue	27.51%	29.46%	28.10%	27.02%	23.06%	25.38%	26.87%	22.53%	19.14%	20.41%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.43	$4.24	$4.50	$2.17	$2.09	$4.36	$4.43	$2.84	$3.57	$4.04
Adjusted Weighted Average Basic Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M
Adjusted Diluted Earnings per Share	$2.42	$4.22	$4.49	$2.17	$2.07	$4.35	$4.42	$2.83	$3.55	$4.03
Adjusted Weighted Average Diluted Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	40.41M	40.38M	40.34M	40.30M	39.50M	39.39M	39.07M	38.96M	38.83M	38.74M
Normalized Net Operating Profit after Tax (NOPAT)	110	196	211	102	97	202	208	131	99	187
Normalized NOPAT Margin	6.26%	9.09%	9.85%	6.53%	6.04%	9.50%	10.39%	8.44%	6.25%	9.16%
Pre Tax Income Margin	8.15%	11.90%	12.79%	8.24%	6.78%	11.98%	13.09%	10.58%	8.67%	11.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	135.78	77.81	267.87	10,087.43	489.14
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	106.94	60.93	212.78	11,555.70	386.23
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	130.68	75.71	255.76	9,556.71	473.57
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	101.85	58.84	200.67	11,024.99	370.67
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	66.62%	78.38%	76.37%	75.33%	71.95%	63.52%	63.40%	60.19%	57.07%	59.84%
Augmented Payout Ratio	66.62%	78.38%	76.37%	75.33%	71.95%	63.52%	63.40%	60.19%	57.07%	59.84%

Frequently Asked Questions About Watsco's Financials

When does Watsco's fiscal year end?

According to the most recent income statement we have on file, Watsco's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Watsco's net income changed over the last 9 years?

Watsco's net income appears to be on an upward trend, with a most recent value of $635.74 million in 2024, rising from $226.52 million in 2015. The previous period was $634.14 million in 2023.

What is Watsco's operating income?

Watsco's total operating income in 2024 was $781.78 million, based on the following breakdown:

Total Gross Profit: $2.04 billion
Total Operating Expenses: $1.29 billion

How has Watsco revenue changed over the last 9 years?

Over the last 9 years, Watsco's total revenue changed from $4.11 billion in 2015 to $7.62 billion in 2024, a change of 85.2%.

How much debt does Watsco have?

Watsco's total liabilities were at $1.42 billion at the end of 2024, a 27.2% increase from 2023, and a 142.0% increase since 2015.

How much cash does Watsco have?

In the past 9 years, Watsco's cash and equivalents has ranged from $35.23 million in 2015 to $526.27 million in 2024, and is currently $526.27 million as of their latest financial filing in 2024.

How has Watsco's book value per share changed over the last 9 years?

Over the last 9 years, Watsco's book value per share changed from 27.13 in 2015 to 65.80 in 2024, a change of 142.5%.

Related Companies

This page (NYSE:WSO.B) was last updated on 5/25/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Watsco (WSO.B) Financials

Frequently Asked Questions About Watsco's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Watsco (WSO.B) Financials

Annual Income Statements for Watsco

Quarterly Income Statements for Watsco

Annual Cash Flow Statements for Watsco

Quarterly Cash Flow Statements for Watsco

Annual Balance Sheets for Watsco

Quarterly Balance Sheets for Watsco

Annual Metrics And Ratios for Watsco

Quarterly Metrics And Ratios for Watsco

Frequently Asked Questions About Watsco's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools