NYSE · WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES · LARGE CAP
Watsco Inc. WSO-B
18 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY12 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$7.2B
▼ 5.0% vs FY2024
Dividend streak
12 yrs
Raised every year since 2014
EPS · FY25
$12.25
Dividend / sh · FY25
$11.70
Payout · FY25
95%
ROE · FY25
18.3%
Net margin · FY25
6.9%
Dividend coverage
1.0×
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Result
USD 7.2B
Revenue, FY2025 · full 18-year series below
Revenue
Net income
7 cents of every revenue dollar became profit this year.
Per share
USD 12.25
Diluted EPS, FY2025
EPS
Dividend
Earnings covered the dividend 1.0 times — the rest stayed in the company.
Profitability
18.3%
Return on equity, FY2025
ROE
Operating margin10.0%
Net margin6.9%
Return on assets11.2%
Each USD of equity produced 18 cents of profit this year.
Returned to shareholders
USD 473.8M
returned in FY2025 · dividends + 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.
Growth
+7.4% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
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%
Compound annual rates per period — left blank where the series crosses a loss.
Share base
—
Shares outstanding, FY2025
Change, 5 years—
Change, 10 years—
A share split breaks the comparison across the period, so we leave it out.
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Balance sheet
USD 4.4B
total assets, end of FY2025
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.
History
18 fiscal years
Every figure from documents filed with the SEC · USD
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
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
·
Shares out B
·
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.00
0.00
0.00
·
·
·
·
Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.
How we verifyAUDITED
68 of 68
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity
Every figure was compared against the original statement: 0 failures and 0 presentation gaps.
What we don’t show
We’d rather say what’s missing than fill the gap with an estimate.
P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed