Company Valuation: Watsco, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,053 8,815 15,735 18,179 12,792 11,371 - -
Change - -20.25% 78.5% 15.53% -29.63% -11.11% - -
Enterprise Value (EV) 1 11,108 8,758 15,540 17,507 12,476 10,554 10,423 10,265
Change - -21.16% 77.44% 12.66% -28.74% -15.4% -1.25% -1.51%
P/E 29x 16.2x 31.3x 35.6x 27.5x 24.3x 22.3x 21x
PBR 6.66x 4.71x 7.02x 6.69x 4.59x 3.44x 3.32x 3.15x
PEG - 0.4x -2.8x -13.15x -3.48x -34.16x 2.46x 3.24x
Capitalization / Revenue 1.76x 1.21x 2.16x 2.39x 1.77x 1.5x 1.42x 1.34x
EV / Revenue 1.77x 1.2x 2.13x 2.3x 1.72x 1.4x 1.3x 1.21x
EV / EBITDA 16.9x 10.1x 18.7x 21.3x 16.3x 13.6x 12.3x 10.8x
EV / EBIT 17.7x 10.5x 19.6x 22.4x 17.3x 14.6x 13.2x 11.6x
EV / FCF 34.1x 16.3x 29.4x 23.6x 23.3x 18.7x 16.4x 16x
FCF Yield 2.93% 6.14% 3.4% 4.25% 4.29% 5.34% 6.11% 6.25%
Dividend per Share 2 7.625 8.55 9.8 10.55 11.7 12.51 12.65 13.02
Rate of return 2.44% 3.43% 2.29% 2.23% 3.47% 4.23% 4.27% 4.4%
EPS 2 10.78 15.41 13.67 13.3 12.25 12.16 13.26 14.12
Distribution rate 70.7% 55.5% 71.7% 79.3% 95.5% 103% 95.3% 92.2%
Net sales 1 6,280 7,274 7,284 7,618 7,239 7,561 8,002 8,474
EBITDA 1 656.7 866.9 829.9 822.6 764.1 774.5 845.9 949.1
EBIT 1 628.5 835.2 794.8 781.8 720.3 721.2 792.6 885.5
Net income 1 381.7 549.9 499.4 498.9 464.2 466.6 511.3 544.4
Net Debt 1 55.23 -56.91 -194.7 -671.7 -316.1 -816.8 -948.5 -1,106
Reference price 2 312.88 249.40 428.47 473.89 336.95 295.91 295.91 295.91
Nbr of stocks (in thousands) 35,438 35,277 36,805 37,645 37,932 38,589 - -
Announcement Date 2/10/22 2/16/23 2/13/24 2/18/25 2/17/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.98x2.96x16.12x2.06% 234B
13.45x1.64x7.38x3.8% 194B
26.41x3.44x15.81x1.84% 161B
34.77x5.17x21.71x1.13% 152B
40.03x5.34x23.91x1.24% 131B
30.28x4.36x21.37x0.89% 101B
90.17x11.16x63.8x0.35% 93.7B
33.08x5.32x18.51x1.37% 90.07B
30.4x3.79x20.37x1.12% 88.12B
Average 35.95x 4.80x 23.22x 1.53% 138.19B
Weighted average by Cap. 32.46x 4.30x 20.71x 1.76%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Watsco, Inc.

Historical PBR trend

Valuation ratios - PBR - Watsco, Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Watsco, Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Watsco, Inc.


Year-on-year evolution of the Yield

Valuation ratios - Yield - Watsco, Inc.