Watsco, Inc. (WSO)

Watsco Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	496.99	536.29	536.34	601.17	418.95
Depreciation & Amortization	43.75	40.82	35.09	31.68	28.13
Loss (Gain) From Sale of Assets	-	0.54	-0.14	-1.62	0.35
Loss (Gain) on Equity Investments	-27.77	-30.5	-26.18	-22.67	-19.3
Stock-Based Compensation	44.09	43.76	38.86	35.57	30.52
Provision & Write-off of Bad Debts	5.2	4.29	7.16	8.54	6.89
Other Operating Activities	109.44	99.68	90.62	116	85.73
Change in Accounts Receivable	83.43	-85.56	-36.04	-60.15	-130.41
Change in Inventory	11.96	-41.68	64.62	-259.86	-243.66
Change in Accounts Payable	-203.05	197.77	-162.04	121.99	182.82
Change in Other Net Operating Assets	5.58	7.7	13.66	1.33	-10.44
Operating Cash Flow	569.61	773.1	561.95	571.96	349.57
Operating Cash Flow Growth	-26.32%	37.57%	-1.75%	63.62%	-34.59%
Capital Expenditures	-34.09	-30.09	-35.48	-35.65	-25.46
Sale of Property, Plant & Equipment	-	0.26	1.31	1.86	1.36
Cash Acquisitions	-19.2	-5.17	-3.82	-0.05	-129.46
Investment in Securities	-44.83	-255.67	-3.35	-	4.99
Investing Cash Flow	-98.12	-290.67	-41.34	-33.84	-148.58
Long-Term Debt Issued	-	-	15.4	-	89
Total Debt Issued	-	-	15.4	-	89
Long-Term Debt Repaid	-	-21.43	-60.45	-35.64	-2.04
Net Debt Issued (Repaid)	-	-21.43	-45.05	-35.64	86.96
Issuance of Common Stock	21.67	326.09	44.31	20.42	21.01
Repurchase of Common Stock	-	-39.67	-2.83	-87.11	-1.09
Common Dividends Paid	-473.77	-423.52	-382.65	-332.45	-294.52
Other Financing Activities	-116.02	-	-73.86	-69.18	-40.96
Financing Cash Flow	-568.12	-158.53	-460.08	-503.96	-228.6
Foreign Exchange Rate Adjustments	3.64	-7.74	2.07	-4.93	-0.19
Net Cash Flow	-92.99	316.16	62.61	29.24	-27.8
Free Cash Flow	535.52	743.01	526.48	536.31	324.1
Free Cash Flow Growth	-27.93%	41.13%	-1.83%	65.48%	-37.43%
Free Cash Flow Margin	7.40%	9.75%	7.23%	7.37%	5.16%
Free Cash Flow Per Share	14.13	19.81	14.41	15.03	9.15
Cash Interest Paid	-	0.97	10.12	3.51	0.91
Cash Income Tax Paid	-	124.6	188.44	105.74	124.98
Levered Free Cash Flow	290.39	667.67	339.18	345.59	135.6
Unlevered Free Cash Flow	290.39	667.67	342.25	346.94	136.22
Change in Working Capital	-102.09	78.23	-119.8	-196.69	-201.69

Updated Feb 17, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q