Watsco Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,239	7,618	7,284	7,274	6,280
Revenue Growth (YoY)	-4.98%	4.59%	0.13%	15.83%	24.24%
Cost of Revenue	5,209	5,574	5,292	5,244	4,613
Gross Profit	2,030	2,045	1,992	2,030	1,668
Selling, General & Admin	1,338	1,293	1,224	1,221	1,058
Other Operating Expenses	-27.77	-30.5	-26.18	-22.67	-19.3
Total Operating Expenses	1,310	1,263	1,197	1,199	1,039
Operating Income	720.35	781.78	794.81	831.58	628.53
Interest Expense	17.33	20.87	-4.92	-2.17	-1
Total Non-Operating Income (Expense)	17.33	20.87	-4.92	-2.17	-1
Pretax Income	737.68	802.64	789.89	829.41	627.53
Provision for Income Taxes	150.09	166.9	155.75	125.72	128.8
Net Income	496.99	536.29	536.34	601.17	418.95
Minority Interest in Earnings	90.59	99.45	97.8	102.53	79.79
Net Income to Common	496.99	536.29	536.34	601.17	418.95
Net Income Growth	-7.33%	-0.01%	-10.78%	43.49%	55.41%
Shares Outstanding (Basic)	38	37	36	36	35
Shares Outstanding (Diluted)	38	38	37	36	35
Shares Change (YoY)	1.04%	2.68%	2.38%	0.73%	0.78%
EPS (Basic)	12.27	13.34	13.72	15.46	10.83
EPS (Diluted)	12.25	13.30	13.67	15.41	10.78
EPS Growth	-7.90%	-2.71%	-11.29%	42.95%	53.78%
Free Cash Flow	535.06	743.01	526.48	536.31	324.1
Free Cash Flow Growth	-27.99%	41.13%	-1.83%	65.48%	-37.43%
Free Cash Flow Per Share	14.12	19.81	14.41	15.03	9.15
Dividends Per Share	11.700	10.550	9.800	8.550	7.625
Dividend Growth	10.90%	7.65%	14.62%	12.13%	10.11%
Gross Margin	28.05%	26.84%	27.35%	27.91%	26.55%
Operating Margin	9.95%	10.26%	10.91%	11.43%	10.01%
Profit Margin	8.12%	8.34%	8.71%	9.67%	7.94%
FCF Margin	7.39%	9.75%	7.23%	7.37%	5.16%
EBITDA	764.1	822.6	829.9	863.26	656.66
EBITDA Margin	10.55%	10.80%	11.39%	11.87%	10.46%
EBIT	720.35	781.78	794.81	831.58	628.53
EBIT Margin	9.95%	10.26%	10.91%	11.43%	10.01%
Effective Tax Rate	20.35%	20.79%	19.72%	15.16%	20.52%

Updated Feb 17, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q