Financials Watsco, Inc.

Stocks

WSO

US9426222009

Electrical Components & Equipment

Market Closed - NYSE Other stock markets 16:00:02 2026-07-30 EDT			After hours 19:55:42
310.73 ^USD	-2.90%		307.44	-1.06%

07-29	Watsco, Inc., Q2 2026 Earnings Call, Jul 29, 2026
07-29	Watsco Q2 Earnings Decline, Revenue Rises	MT

Projected Income Statement: Watsco, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	6,280	7,274	7,284	7,618	7,239	7,557	7,972	8,407
Change	-	15.83%	0.13%	4.59%	-4.98%	4.39%	5.49%	5.46%
EBITDA ¹	656.7	866.9	829.9	822.6	764.1	761.6	842	955.6
Change	-	32.02%	-4.27%	-0.88%	-7.11%	-0.33%	10.56%	13.48%
EBIT ¹	628.5	835.2	794.8	781.8	720.3	724.8	803.2	893.6
Change	-	32.88%	-4.84%	-1.64%	-7.86%	0.61%	10.81%	11.27%
Interest Paid ¹	-0.996	-2.165	-4.92	20.87	-	-1.202	-1.375	-0.875
Earnings before Tax (EBT) ¹	627.5	829.4	789.9	802.6	737.7	742	808.7	918.1
Change	-	32.17%	-4.77%	1.61%	-8.09%	0.59%	8.98%	13.53%
Net income ¹	381.7	549.9	499.4	498.9	464.2	467.3	512.4	592
Change	-	44.05%	-9.18%	-0.1%	-6.96%	0.67%	9.64%	15.54%
Announcement Date	2/10/22	2/16/23	2/13/24	2/18/25	2/17/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	1,850	1,783	1,512	1,524	2,134	2,036	1,581	1,551	2,003	2,127	1,603	1,565	2,139	2,160	1,754	1,531	2,062	2,067	1,579	1,533	2,105	2,204	1,693	1,645	2,239	2,285	1,765	1,736
Change	-	-3.63%	-15.19%	0.77%	40.05%	-4.59%	-22.33%	-1.93%	29.18%	6.18%	-24.62%	-2.38%	36.7%	0.97%	-18.8%	-12.71%	34.7%	0.22%	-23.62%	-2.9%	37.3%	4.71%	-23.18%	-2.84%	36.08%	2.06%	-22.76%	-1.64%
EBITDA ¹	223.8	213.8	130.3	178.6	294.9	244.3	149.1	172.9	274.1	265.4	117.4	136.4	278.8	260.7	146.7	123	282.8	245.8	112.6	121.2	249.3	260.7	134.9	129.5	268.5	275.6	148.5	129
Change	-	-4.45%	-39.05%	37.08%	65.07%	-17.15%	-38.99%	16.01%	58.53%	-3.18%	-55.75%	16.17%	104.38%	-6.5%	-43.73%	-16.17%	129.97%	-13.09%	-54.18%	7.64%	105.68%	4.56%	-48.23%	-4.02%	107.32%	2.62%	-46.12%	-13.12%
EBIT ¹	216.8	206.8	123.1	171	287.1	236.3	140.8	164.7	265.7	256.6	107.7	126.5	268.8	250.2	136.2	112.2	271.9	234.8	101.5	110.2	238.4	253.5	117.6	118.9	261.1	262.1	135.1	119
Change	-	-4.61%	-40.49%	38.99%	67.84%	-17.71%	-40.4%	16.99%	61.29%	-3.42%	-58.01%	17.44%	112.43%	-6.9%	-45.58%	-17.62%	142.33%	-13.65%	-56.75%	8.53%	116.34%	6.36%	-53.6%	1.1%	119.53%	0.39%	-48.47%	-11.9%
Charge d'intérêts	-0.448	-0.221	-0.239	-0.558	-1.11	-0.483	-0.014	-0.615	-3.415	-1.89	1	2.47	4.913	6.773	6.713	5.417	2.329	3.733	5.85	-	-	-	-1	-	-	-	-	-
Earnings before Tax (EBT) ¹	216.3	206.6	122.8	170.5	286	235.8	137.2	164.1	262.3	254.7	108.7	129	273.7	257	142.9	117.6	274.2	238.5	107.4	116.6	241.9	257.5	121.2	121.8	260	269.6	141.2	123
Change	-	-4.51%	-40.54%	38.81%	67.74%	-17.56%	-41.82%	19.66%	59.81%	-2.88%	-57.31%	18.63%	112.17%	-6.1%	-44.4%	-17.7%	133.15%	-13.02%	-54.98%	8.63%	107.36%	6.47%	-52.94%	0.48%	113.53%	3.66%	-47.61%	-12.9%
Net income ¹	131.4	128.3	71.79	103	175	143.3	128.3	102.7	160.8	159	75.84	80.17	168.8	159.1	89.26	72.89	171.5	150.9	63.75	71.04	152.6	159.1	73.69	72.25	162.3	168	82.62	77
Change	-	-2.32%	-44.04%	43.47%	69.89%	-18.12%	-10.46%	-19.97%	56.68%	-1.12%	-52.32%	5.71%	110.56%	-5.72%	-43.91%	-18.34%	135.23%	-12%	-57.75%	11.44%	114.81%	4.26%	-53.68%	-1.96%	124.67%	3.51%	-50.83%	-6.81%
Announcement Date	7/22/21	10/20/21	2/10/22	4/21/22	7/26/22	10/20/22	2/16/23	4/20/23	8/1/23	10/19/23	2/13/24	4/24/24	7/30/24	10/23/24	2/18/25	4/23/25	7/30/25	10/29/25	2/17/26	4/28/26	7/29/26	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Watsco, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	55.2	-56.9	-195	-672	-316	-860	-946	-1,137
Change	-	-203.08%	-242.71%	-244.62%	52.98%	-172.04%	-10%	-20.19%
Announcement Date	2/10/22	2/16/23	2/13/24	2/18/25	2/17/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Watsco, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	24.11	33.79	34.17	29.83	34.09	32.72	36.93	40.6
Change	-	40.16%	1.13%	-12.71%	14.3%	-4.02%	12.84%	9.96%
Free Cash Flow (FCF) ¹	325.5	538.2	527.8	743.3	535.5	614.6	593.5	660.2
Change	-	65.36%	-1.93%	40.83%	-27.95%	14.77%	-3.43%	11.24%
Announcement Date	2/10/22	2/16/23	2/13/24	2/18/25	2/17/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Watsco, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	10.46%	11.92%	11.39%	10.8%	10.55%	10.08%	10.56%	11.37%
EBIT Margin (%)	10.01%	11.48%	10.91%	10.26%	9.95%	9.59%	10.07%	10.63%
EBT Margin (%)	9.99%	11.4%	10.84%	10.54%	10.19%	9.82%	10.14%	10.92%
Net margin (%)	6.08%	7.56%	6.86%	6.55%	6.41%	6.18%	6.43%	7.04%
FCF margin (%)	5.18%	7.4%	7.25%	9.76%	7.4%	8.13%	7.45%	7.85%
FCF / Net Income (%)	85.26%	97.87%	105.68%	148.98%	115.37%	131.52%	115.84%	111.52%
Profitability
ROA	13.71%	15.42%	13.84%	12.16%	10.44%	10.77%	11.47%	14.3%
ROE	24.22%	28.51%	24.25%	20.42%	17.07%	16.55%	17.73%	18.48%
Financial Health
Leverage (Debt/EBITDA)	0.08x	-	-	-	-	-	-	-
Debt / Free cash flow	0.17x	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	0.38%	0.46%	0.47%	0.39%	0.47%	0.43%	0.46%	0.48%
CAPEX / EBITDA (%)	3.67%	3.9%	4.12%	3.63%	4.46%	4.3%	4.39%	4.25%
CAPEX / FCF (%)	7.41%	6.28%	6.47%	4.01%	6.37%	5.32%	6.22%	6.15%
Items per share
Cash flow per share ¹	-	16.03	15.38	-	-	-	-	-
Change	-	-	-4.03%	-	-	-	-	-
Dividend per Share ¹	7.625	8.55	9.8	10.55	11.7	12.13	12.65	13.02
Change	-	12.13%	14.62%	7.65%	10.9%	3.64%	4.29%	2.93%
Book Value Per Share ¹	47	52.94	61.04	70.83	73.39	83.86	88.04	93.83
Change	-	12.64%	15.29%	16.05%	3.61%	14.27%	4.98%	6.58%
EPS ¹	10.78	15.41	13.67	13.3	12.25	12.24	13.38	15.7
Change	-	42.95%	-11.29%	-2.71%	-7.89%	-0.09%	9.33%	17.35%
Nbr of stocks (in thousands)	35,438	35,277	36,805	37,645	37,932	38,525	38,525	38,525
Announcement Date	2/10/22	2/16/23	2/13/24	2/18/25	2/17/26	-	-	-