Watsco revenue and financials
$281.52Change from previous close: −3.20%Absolute change: −$9.31
In the fiscal year ended December 2025, Watsco reported revenue of $7.24B (−4.98% year over year). Net income was $496.99M, a net margin of 6.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −4.98%
- 2025 vs 2024
- Net income growth
- −7.33%
- 2025 vs 2024
- Net margin
- 6.9%
- 2024: 7.0%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -2.5 | -18.9 | 400 | 355 | -7.4 | -178 | 379 | 233 | 57.7 | 104 | 299 | 353 |
| Depreciation and amortization | 10.9 | 11.0 | 11.1 | 11.0 | 10.9 | 10.8 | 10.5 | 10.4 | 10.0 | 9.9 | 9.7 | 8.8 |
| Capital expenditure | -9.0 | -7.0 | -11.3 | -8.9 | -6.8 | -7.5 | -8.0 | -9.8 | -6.4 | -5.8 | -10.0 | -9.7 |
| Investing cash flow | 98.6 | 93.1 | -112 | -209 | -22.3 | 245 | -8.0 | -65.4 | -6.4 | -211 | -13.3 | -10.5 |
| Financing cash flow | -123 | -114 | -180 | -114 | -113 | -162 | -133 | -98.9 | -105 | 178 | -252 | -328 |
| Dividends paid | -134 | -122 | -122 | -122 | -121 | -109 | -109 | -109 | -109 | -96.8 | -96.5 | -95.7 |
| Share repurchases | -0.8 | -0.6 | 0.0 | -3.7 | 0.0 | — | -36.8 | -1.6 | -0.8 | -0.4 | -0.2 | -0.4 |
| Debt issued | — | — | — | — | — | — | — | — | — | — | -90.2 | -237 |
| Debt repaid | -1.2 | -1.2 | -1.4 | -1.4 | -1.5 | -1.6 | -1.6 | -1.5 | -1.5 | -16.8 | -1.3 | -1.0 |
| Effect of exchange rates | -1.2 | -0.9 | 1.1 | -1.2 | 3.5 | 0.3 | -5.6 | 1.0 | -0.8 | -2.4 | 2.2 | -1.5 |
| Net change in cash | -28.5 | -40.6 | 109 | 31.4 | -139 | -94.4 | 232 | 69.5 | -54.0 | 68.8 | 35.1 | 12.5 |
| Free cash flow | -11.5 | -25.9 | 388 | 346 | -14.3 | -185 | 371 | 223 | 51.3 | 97.9 | 289 | 343 |
| Levered free cash flow | -130 | -38.1 | 344 | 298 | -89.8 | -271 | 426 | 161 | -7.0 | 70.5 | 269 | 243 |