Watsco, Inc. (WSO)

Watsco Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	7,508	7,618	7,284	7,274	6,280	5,055
Revenue Growth (YoY)	0.98%	4.59%	0.13%	15.83%	24.24%	5.96%
Cost of Revenue	5,440	5,574	5,292	5,244	4,613	3,832
Gross Profit	2,067	2,045	1,992	2,030	1,668	1,223
Selling, General & Admin	1,287	1,256	1,186	1,189	1,030	806.65
Operating Expenses	1,327	1,297	1,221	1,220	1,058	832.56
Operating Income	740.1	748.04	771.42	809.82	609.47	390.26
Interest Expense	-	-	-4.92	-2.17	-1	-1.24
Interest & Investment Income	21.23	20.87	-	-	-	-
Earnings From Equity Investments	29.5	30.5	26.18	22.67	19.3	11.26
Currency Exchange Gain (Loss)	0.89	3.23	-2.79	-0.92	-0.24	-0.49
Pretax Income	791.72	802.64	789.89	829.41	627.53	399.8
Income Tax Expense	163.59	166.9	155.75	125.72	128.8	76.62
Earnings From Continuing Operations	628.14	635.74	634.14	703.7	498.74	323.17
Minority Interest in Earnings	-96.59	-99.45	-97.8	-102.53	-79.79	-53.59
Net Income	531.55	536.29	536.34	601.17	418.95	269.58
Preferred Dividends & Other Adjustments	36	37.39	36.97	51.37	37.27	23.14
Net Income to Common	495.54	498.89	499.37	549.8	381.67	246.44
Net Income Growth	1.85%	-0.01%	-10.78%	43.49%	55.41%	9.61%
Shares Outstanding (Basic)	38	37	36	36	35	35
Shares Outstanding (Diluted)	38	38	37	36	35	35
Shares Change (YoY)	2.13%	2.68%	2.38%	0.73%	0.78%	1.37%
EPS (Basic)	13.15	13.34	13.72	15.46	10.83	7.03
EPS (Diluted)	13.11	13.30	13.67	15.41	10.78	7.01
EPS Growth	-0.06%	-2.70%	-11.29%	43.00%	53.72%	7.78%
Free Cash Flow	394.37	743.01	526.48	536.31	324.1	517.94
Free Cash Flow Per Share	10.44	19.81	14.41	15.03	9.15	14.73
Dividend Per Share	11.100	10.550	9.800	8.550	7.625	6.925
Dividend Growth	10.45%	7.65%	14.62%	12.13%	10.11%	8.20%
Gross Margin	27.54%	26.84%	27.35%	27.91%	26.55%	24.19%
Operating Margin	9.86%	9.82%	10.59%	11.13%	9.71%	7.72%
Profit Margin	6.60%	6.55%	6.86%	7.56%	6.08%	4.88%
Free Cash Flow Margin	5.25%	9.75%	7.23%	7.37%	5.16%	10.25%
EBITDA	782.72	788.86	806.51	841.51	637.59	416.17
EBITDA Margin	10.43%	10.36%	11.07%	11.57%	10.15%	8.23%
D&A For EBITDA	42.62	40.82	35.09	31.68	28.13	25.91
EBIT	740.1	748.04	771.42	809.82	609.47	390.26
EBIT Margin	9.86%	9.82%	10.59%	11.13%	9.71%	7.72%
Effective Tax Rate	20.66%	20.79%	19.72%	15.16%	20.52%	19.17%
Advertising Expenses	-	25.34	28.24	25.88	21.55	12.59

Updated Jul 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q