The Filings Report

Watsco, Inc.

WSONYSECIK 105016Industrials / Industrial Distributionfiscal year ends December69 quarters since 2009

Revenue, Q2 FY2026
$2.1B
+2.1% on Q2 FY2025
Net income
$163M
−11.0% on Q2 FY2025
Free cash flow
−$12M
+19.3% on Q2 FY2025
Diluted EPS
$4.00
−11.5% on Q2 FY2025
Revenue, TTM
$7.3B
trailing four quarters
Net margin, TTM
6.5%
net income $476M
Free cash flow, TTM
$697M
$733M less $36M capex
Cash and equivalents
$364M
long-term debt —, Jun 30, 2026
Shares, 12-month change
—
— shares, Jun 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
$499M
no yield
Market value
—
at the close, buybacks

Latest quarter Q2 FY2026, filed August 7, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 30, 2026, Watsco, Inc. reported revenue of $2.1B, +2.1% on Q2 FY2025, and net income of $163M (−11.0%). Operating margin was 11.3%. Free cash flow, operating cash flow less capital expenditures, was −$12M (−$3M less $9M). Diluted earnings per share were $4.00.

The last 16 quarters

Q3 FY2022 to Q2 FY2026, through the filing of August 7, 2026.

Revenue and net incomeRevenueNet income
$0$1B$2B$3BQ3'22, Revenue: $2.0BQ3'22, Net income: $158MQ3'22Q4'22, Revenue: $1.6BQ4'22, Net income: $138MQ4'22Q1'23, Revenue: $1.6BQ1'23, Net income: $110MQ1'23Q2'23, Revenue: $2.0BQ2'23, Net income: $173MQ2'23Q3'23, Revenue: $2.1BQ3'23, Net income: $171MQ3'23Q4'23, Revenue: $1.6BQ4'23, Net income: $83MQ4'23Q1'24, Revenue: $1.6BQ1'24, Net income: $87MQ1'24Q2'24, Revenue: $2.1BQ2'24, Net income: $181MQ2'24Q3'24, Revenue: $2.2BQ3'24, Net income: $171MQ3'24Q4'24, Revenue: $1.8BQ4'24, Net income: $97MQ4'24Q1'25, Revenue: $1.5BQ1'25, Net income: $80MQ1'25Q2'25, Revenue: $2.1BQ2'25, Net income: $184MQ2'25Q3'25, Revenue: $2.1BQ3'25, Net income: $162MQ3'25Q4'25, Revenue: $1.6BQ4'25, Net income: $72MQ4'25Q1'26, Revenue: $1.5BQ1'26, Net income: $79MQ1'26Q2'26, Revenue: $2.1BQ2'26, Net income: $163MQ2'26$0$1B$2B$3BQ3'22, Revenue: $2.0BQ3'22, Net income: $158MQ4'22, Revenue: $1.6BQ4'22, Net income: $138MQ4'22Q1'23, Revenue: $1.6BQ1'23, Net income: $110MQ2'23, Revenue: $2.0BQ2'23, Net income: $173MQ2'23Q3'23, Revenue: $2.1BQ3'23, Net income: $171MQ4'23, Revenue: $1.6BQ4'23, Net income: $83MQ4'23Q1'24, Revenue: $1.6BQ1'24, Net income: $87MQ2'24, Revenue: $2.1BQ2'24, Net income: $181MQ2'24Q3'24, Revenue: $2.2BQ3'24, Net income: $171MQ4'24, Revenue: $1.8BQ4'24, Net income: $97MQ4'24Q1'25, Revenue: $1.5BQ1'25, Net income: $80MQ2'25, Revenue: $2.1BQ2'25, Net income: $184MQ2'25Q3'25, Revenue: $2.1BQ3'25, Net income: $162MQ4'25, Revenue: $1.6BQ4'25, Net income: $72MQ4'25Q1'26, Revenue: $1.5BQ1'26, Net income: $79MQ2'26, Revenue: $2.1BQ2'26, Net income: $163MQ2'26

Net income losses drawn in red.

Free cash flow
−$200M$0$200M$400MQ3'22, Free cash flow: $278MQ3'22Q4'22, Free cash flow: $204MQ4'22Q1'23, Free cash flow: −$55MQ1'23Q2'23, Free cash flow: −$50MQ2'23Q3'23, Free cash flow: $343MQ3'23Q4'23, Free cash flow: $289MQ4'23Q1'24, Free cash flow: $98MQ1'24Q2'24, Free cash flow: $51MQ2'24Q3'24, Free cash flow: $223MQ3'24Q4'24, Free cash flow: $371MQ4'24Q1'25, Free cash flow: −$185MQ1'25Q2'25, Free cash flow: −$14MQ2'25Q3'25, Free cash flow: $346MQ3'25Q4'25, Free cash flow: $388MQ4'25Q1'26, Free cash flow: −$26MQ1'26Q2'26, Free cash flow: −$12MQ2'26−$200M$0$200M$400MQ3'22, Free cash flow: $278MQ4'22, Free cash flow: $204MQ4'22Q1'23, Free cash flow: −$55MQ2'23, Free cash flow: −$50MQ2'23Q3'23, Free cash flow: $343MQ4'23, Free cash flow: $289MQ4'23Q1'24, Free cash flow: $98MQ2'24, Free cash flow: $51MQ2'24Q3'24, Free cash flow: $223MQ4'24, Free cash flow: $371MQ4'24Q1'25, Free cash flow: −$185MQ2'25, Free cash flow: −$14MQ2'25Q3'25, Free cash flow: $346MQ4'25, Free cash flow: $388MQ4'25Q1'26, Free cash flow: −$26MQ2'26, Free cash flow: −$12MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$200M$400M$600MQ3'22, Cash and equivalents: $130MQ3'22Q4'22, Cash and equivalents: $148MQ4'22Q1'23, Cash and equivalents: $141MQ1'23Q2'23, Cash and equivalents: $163MQ2'23Q3'23, Cash and equivalents: $175MQ3'23Q4'23, Cash and equivalents: $210MQ4'23Q1'24, Cash and equivalents: $279MQ1'24Q2'24, Cash and equivalents: $225MQ2'24Q3'24, Cash and equivalents: $294MQ3'24Q4'24, Cash and equivalents: $526MQ4'24Q1'25, Cash and equivalents: $432MQ1'25Q2'25, Cash and equivalents: $293MQ2'25Q3'25, Cash and equivalents: $324MQ3'25Q4'25, Cash and equivalents: $433MQ4'25Q1'26, Cash and equivalents: $393MQ1'26Q2'26, Cash and equivalents: $364MQ2'26$0$200M$400M$600MQ3'22, Cash and equivalents: $130MQ4'22, Cash and equivalents: $148MQ4'22Q1'23, Cash and equivalents: $141MQ2'23, Cash and equivalents: $163MQ2'23Q3'23, Cash and equivalents: $175MQ4'23, Cash and equivalents: $210MQ4'23Q1'24, Cash and equivalents: $279MQ2'24, Cash and equivalents: $225MQ2'24Q3'24, Cash and equivalents: $294MQ4'24, Cash and equivalents: $526MQ4'24Q1'25, Cash and equivalents: $432MQ2'25, Cash and equivalents: $293MQ2'25Q3'25, Cash and equivalents: $324MQ4'25, Cash and equivalents: $433MQ4'25Q1'26, Cash and equivalents: $393MQ2'26, Cash and equivalents: $364MQ2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Watsco, Inc. income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024YoYQ2 FY2026vs Q2 FY2025
Revenue2,1051,5331,5792,0672,0621,5311,7542,160+2.1%
Cost of revenue1,5261,1051,1501,4981,4591,1011,2861,594+4.6%
Gross profit579428428569603430468566−4.1%
Research and development—————————
Selling, general and administrative349323333344339323338326+2.9%
Operating income238110102235272112136250−12.3%
Other income (expense)—————————
Pretax income242117107238274118143257−11.8%
Income tax5124204957232855−12.0%
Net income16379721621848097171−11.0%
Diluted EPS ($)4.001.87—3.984.521.93—4.22−11.5%
Diluted shares (millions)3838—383838—38—

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Watsco, Inc. balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents364393433324293432526294+24.3%
Short-term investments10020030020000256256—
Total current assets3,4543,1812,9553,1163,3003,0353,0803,133+4.7%
Total assets5,0854,6494,4154,5554,7304,4544,4804,517+7.5%
Total current liabilities1,0809527188121,071925984933+0.8%
Long-term debt—————————
Total liabilities—————————
Stockholders’ equity2,9942,7622,7812,8152,7602,6652,6572,696+8.5%
Shares outstanding (millions)—————————

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Watsco, Inc. cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 1, 2024YoYQ2 FY2026vs Q2 FY2025
Operating cash flow(3)(19)400355(7)(178)379233+66.0%
Capital expenditures9711978810+31.5%
Free cash flow (CFO − capex)(12)(26)388346(14)(185)371223+19.3%
Depreciation and amortization1111111111111010+0.1%
Share repurchases—————————
Dividends paid134122122122121109109109+10.4%

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 27, 2026.

Income statement

Watsco, Inc. income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 28, 2020FY2018ended Dec 31, 2018filed Feb 28, 2019FY2017ended Dec 31, 2017filed Mar 1, 2018FY2016ended Dec 31, 2016filed Feb 21, 2017FY2015ended Dec 31, 2015filed Feb 29, 2016FY2014ended Dec 31, 2014filed Feb 24, 2015FY2013ended Dec 31, 2013filed Feb 27, 2014FY2012ended Dec 31, 2012filed Feb 28, 2013FY2011ended Dec 31, 2011filed Feb 29, 2012FY2010ended Dec 31, 2010filed Mar 1, 2011FY2009ended Dec 31, 2009filed Aug 6, 2010FY2008ended Dec 31, 2008filed Aug 6, 2010
Revenue7,2397,6187,2847,2746,2805,0554,7704,5474,3424,2214,1133,9453,7433,4322,9782,8452,0021,700
Cost of revenue5,2095,5745,2925,2444,6133,8323,6133,4263,2763,1863,1062,9882,8442,6172,2492,1711,5211,258
Gross profit2,0302,0451,9922,0301,6681,2231,1571,1201,0661,0351,007956899814728673481442
Research and development——————————————————
Selling, general and administrative1,3381,2931,2241,2211,058833800757716689671651628589529508400343
Operating income7207827958326294013673723543463373062712251991668199
Other income (expense)——————————————————
Pretax income7388037908296284003633693483423313012652201951627897
Income tax1501671561261297767739010610592786357502736
Net income49753653660141927024624320818317315112810390814360
Diluted EPS ($)12.2513.3013.6715.4110.787.016.506.495.815.154.904.323.682.702.742.491.402.09
Diluted shares (millions)383837—35353534333332323232313129—

Balance sheet

Watsco, Inc. balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 28, 2020FY2018ended Dec 31, 2018filed Feb 28, 2019FY2017ended Dec 31, 2017filed Mar 1, 2018FY2016ended Dec 31, 2016filed Feb 21, 2017FY2015ended Dec 31, 2015filed Feb 29, 2016FY2014ended Dec 31, 2014filed Feb 24, 2015FY2013ended Dec 31, 2013filed Feb 27, 2014FY2012ended Dec 31, 2012filed Feb 28, 2013FY2011ended Dec 31, 2011filed Feb 29, 2012FY2010ended Dec 31, 2010filed Mar 1, 2011FY2009ended Dec 31, 2009filed Aug 6, 2010FY2008ended Dec 31, 2008filed Aug 6, 2010
Cash and equivalents4335262101481181467483805635241974161265841
Short-term investments3002560———————————————
Total current assets2,9553,0802,3922,2991,9611,4841,5471,4421,3371,2401,1811,1571,0211,015828838755—
Total assets4,4154,4803,7293,4883,0862,4842,5562,1612,0471,8751,7881,7911,6701,6821,2681,2371,161—
Total current liabilities718984712907727487462358416315270287244282223266224—
Long-term debt——————————246304231316—1013—
Total liabilities——————————————————
Stockholders’ equity2,7812,6572,2301,8891,6651,4871,4351,3481,2981,006957884840748803764738—
Shares outstanding (millions)——————————————————

Cash flow statement

Watsco, Inc. cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 23, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Feb 28, 2020FY2018ended Dec 31, 2018filed Feb 28, 2019FY2017ended Dec 31, 2017filed Mar 1, 2018FY2016ended Dec 31, 2016filed Feb 21, 2017FY2015ended Dec 31, 2015filed Feb 29, 2016FY2014ended Dec 31, 2014filed Feb 24, 2015FY2013ended Dec 31, 2013filed Feb 27, 2014FY2012ended Dec 31, 2012filed Feb 28, 2013FY2011ended Dec 31, 2011filed Feb 29, 2012FY2010ended Dec 31, 2010filed Mar 1, 2011FY2009ended Dec 31, 2009filed Aug 6, 2010FY2008ended Dec 31, 2008filed Aug 6, 2010
Operating cash flow570773562572350534336171307282——1501736115388113
Capital expenditures353035362516181718442422151214864
Free cash flow (CFO − capex)535743526536324518318153289238——1361614814482110
Depreciation and amortization4441353228262522222019181816121197
Share repurchases—————————————————5
Dividends paid47442438333229526624120916412899704025673665749

Insider activity

Form 4 filings by officers, directors and 10% owners, November 3, 2024 to November 3, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$0
0 sales by 0 insiders; officers and directors $0
Bought, twelve months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, twelve months
$0
0 sales by 0 insiders; officers and directors $0

The last 24 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 9, 2026Logan Barry SExecutive Vice President, Directoraward3,573$279.90$1M3,573Oct 13, 2026
Oct 9, 2026Nahmad Aaron JPresident, Directoraward16,078$279.90$5M16,078Oct 13, 2026
Mar 11, 2026Menendez Ana MCFO / Treasurerotherindirect25$336.95$8K1,573Mar 13, 2026
Mar 11, 2026Logan Barry SExecutive Vice President, Directorotherindirect19$336.95$6K1,802Mar 13, 2026
Mar 11, 2026Nahmad Aaron JPresident, Directorotherindirect25$336.95$8K526Mar 13, 2026
Mar 11, 2026Nahmad Albert HChairman and CEO, Directorotherindirect25$336.95$8K92Mar 13, 2026
Dec 12, 2025Lopez-Blazquez AnaDirectoroption exercise1,000$250.84$251K0Dec 16, 2025
Dec 12, 2025Lopez-Blazquez AnaDirectortax withholding707$354.61$251K293Dec 16, 2025
Dec 5, 2025Dickins DeniseDirectorgift269$0.00—21,638Dec 9, 2025
Jun 10, 2025Custer John MichaelDirectoropen-market sale2,200$448.27$986K3,552Jun 12, 2025
May 15, 2025Dickins DeniseDirectorgift191$0.00—21,907May 16, 2025
May 12, 2025Dickins DeniseDirectortax withholding1,624$484.84$787K2,876May 13, 2025
May 12, 2025Dickins DeniseDirectoroption exercise4,500$175.07$788K0May 13, 2025
Mar 13, 2025Logan Barry SExecutive Vice President, Directorotherindirect13$473.89$6K1,783Mar 17, 2025
Mar 13, 2025Menendez Ana MCFO / Treasurerotherindirect18$473.89$9K1,548Mar 17, 2025
Mar 13, 2025Nahmad Albert HChairman and CEO, Directorotherindirect18$473.89$9K67Mar 17, 2025
Mar 13, 2025Nahmad Aaron JPresident, Directorotherindirect18$473.89$9K501Mar 17, 2025
Mar 5, 2025Alvarez Cesar LDirectoroption exercise679$175.07$119K0Mar 7, 2025
Mar 5, 2025Alvarez Cesar LDirectoropen-market sale679$498.92$339K0Mar 7, 2025
Mar 5, 2025Alvarez Cesar LDirectoroption exercise1,421$175.07$249K0Mar 7, 2025
Mar 5, 2025Alvarez Cesar LDirectoropen-market sale1,421$500.00$711K0Mar 7, 2025
Mar 5, 2025Alvarez Cesar LDirectoroption exercise400$175.07$70K400Mar 7, 2025
Dec 18, 2024Logan Barry SExecutive Vice President, Directoropen-market sale10,998$508.21$6M0Dec 18, 2024
Dec 14, 2024Logan Barry SExecutive Vice President, Directortax withholding71,702$509.75$37M30,000Dec 18, 2024

Full insider history for Watsco, Inc., or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

1 of the tracked managers held WSO in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded WSO by quarter.

FundManagerQuarterValueSharesWeightMove
Baron Capital GroupRon BaronQ2 2026$112K2690.00%added +18.5%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
WATSCO INC, CIK 105016 on EDGAR
Extract generated
November 4, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: Revenues
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: GrossProfit
Research and development: not filed
Selling, general and administrative: SellingGeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): not filed
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: ShortTermInvestments
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebtNoncurrent
Total liabilities: not filed
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): not filed

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: PaymentsOfDividendsCommonStock

The data

The statements on this page as files, generated November 4, 2026.

JSON file
/data/financials/WSO.json