MARKETS / NYSE / WSO

NYSE · WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES · LARGE CAP

Watsco Inc. WSO

18 fiscal years on record · USD · FY2025 reported · SEC filings only

12 YEARS OF DIVIDEND GROWTH

Revenue

$7.2B

▼ 5.0% YoY

Net income

$497.0M

▼ 7.3% YoY

Free cash flow

$535.1M

▼ 28.0% YoY

Growth

USD 7.2B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 7.2 · Net income 0.5

Compound annual growth

Revenue

−0.2%

+7.4%

+5.8%

+6.4%

Net income

−6.1%

+13.0%

+11.1%

+12.9%

EPS, diluted

−7.4%

+11.8%

+9.6%

+11.2%

Dividend / share

+11.0%

+11.1%

+15.4%

+12.3%

Returned to shareholders

+12.5%

+12.3%

+17.0%

+14.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +7.4% a year over five years — but profit grew faster: net income at +13.0%, earnings per share at +11.8%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

8 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 10.0% · Net 8.1%

ROE

FY2025 · ROE 18.3%

Gross margin28.0%

Operating margin10.0%

Net margin8.1%

Return on assets13.2%

EBITDAUSD 764.1M

Each USD of equity produced 18 cents of profit this year.

Cash & shareholders

USD 473.8M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 535.1

Net buybacks $M Dividends $M

FY2025 · Dividends 473.8 · Net buybacks —

Dividends paidUSD 473.8M

Net buybacks—

Share of profit95.3%

Consecutive raises12 years

USD 473.8M in dividends — 95% of the year's profit went back to shareholders.

Total assetsUSD 4.4B

EquityUSD 2.8B

CashUSD 433.3M

Gross debtUSD 361.6M

Net debtUSD -71.6M

Current ratio4.12×

The company holds more cash than debt.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	7.2	7.6	7.3	7.3	6.3	5.1	4.8	4.5	4.3	4.2	4.1	3.9	3.7	3.4	3.0	2.8	2.0	1.7
Operating income $B	0.7	0.8	0.8	0.8	0.6	0.4	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.2	0.2	0.2	0.1	0.1
EBITDA $B	0.8	0.8	0.8	0.9	0.7	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.3	0.2	0.2	0.2	0.1	0.1
Income tax $B	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0
Net income $B	0.5	0.5	0.5	0.6	0.4	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.0	0.1
Free cash flow $B	0.5	0.7	0.5	0.5	0.3	0.5	0.3	0.2	0.3	0.2	0.2	0.1	0.1	0.2	0.0	0.1	0.1	0.1
EPS, diluted $	12.25	13.30	13.67	15.41	10.78	7.01	6.50	6.49	5.81	5.15	4.90	4.32	3.68	2.70	2.74	2.49	1.40	2.09
Dividend / sh $	11.70	10.55	9.80	8.55	7.62	6.92	6.40	5.60	4.60	3.60	2.80	2.00	1.15	7.48	2.23	2.04	1.89	1.75
Payout %	95	79	71	55	70	99	98	86	79	70	57	46	31	248	81	82	132	82
ROE %	18.3	21.9	26.0	33.8	26.6	18.5	17.7	18.4	18.1	18.6	18.8	17.6	16.1	13.3	11.5	10.8	5.9	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 84 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 11 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityWholesale-Hardware & Plumbing & Heating Equipment & Supplies

Listed onNYSE

Incorporated inFlorida

Fiscal year endsDecember 31

Data on record since2008