Investor Overview

Watsco, with our extensive distribution network, provides indoor comfort to homes and businesses regardless of conditions.

Financials

Over the last 25 years Watsco has become the undisputed industry leader producing a 21% compounded annual total shareholder return.

SEC Filings

Over the last 25 years Watsco has become the undisputed industry leader producing a 21% compounded annual total shareholder return.

Fundamentals

Learn about our performance and what makes us the industry leader.

Stock Information

Our Common stock is listed on the NYSE under the ticker symbol “WSO” and our Class B common stock is listed on the NYSE under the ticker symbol “WSOB”

Corporate Governance

The primary role of Watsco’s Board of Directors is to oversee our business strategy, assess and manage risks and maximize long-term shareholder value

Investor Resources

Our Investor Resources page give you insight into our company’s culture and how it increases performance.


Income Statement

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update) Year Ending Dec 2014 (Update)
Net Sales 4.34M 4.22M 4.11M 3.94M
Revenue 4.34M 4.22M 4.11M 3.94M
Total Revenue 4.34M 4.22M 4.11M 3.94M
Cost of Revenue 3.28M 3.19M 3.11M 2.99M
Cost of Revenue, Total 3.28M 3.19M 3.11M 2.99M
Gross Profit 1.07M 1.03M 1.01M 956.40
Selling/General/Administrative Expense 693.64 668.89 651.49 632.73
Selling/General/Administrative Expenses, Total 693.64 668.89 651.49 632.73
Depreciation 16.77 14.85 13.80 12.16
Amortization of Intangibles, Operating 5.26 5.21 5.32 5.77
Depreciation/Amortization 22.03 20.07 19.12 17.93
Investment Income - Operating -3.89
Interest/Investment Income - Operating -3.89
Interest Expense (Income), Net-Operating, Total -3.89
Other Unusual Expense (Income)
Unusual Expense (Income)
Total Operating Expense 3.99M 3.88M 3.78M 3.64M
Operating Income 353.87 345.63 336.75 305.75
Interest Expense - Non-Operating -6.36 -3.71 -5.55 -5.21
Interest Expense, Net Non-Operating -6.36 -3.71 -5.55 -5.21
Interest Income (Expense), Net-Non-Operating, Total -6.36 -3.71 -5.55 -5.21
Net Income Before Taxes 347.51 341.92 331.20 300.54
Income Tax – Total 100.17 105.94 104.68 91.84
Income After Tax 247.34 235.98 226.52 208.70
Minority Interest -49.07 -53.17 -53.60 -57.32
Net Income Before Extraordinary Items 198.27 182.81 172.93 151.39
Discontinued Operations
Extraordinary Item 9.95
Total Extraordinary Items 9.95
Net Income 208.22 182.81 172.93 151.39
Miscellaneous Earnings Adjustment -17.43 -14.81 -13.63 -11.44
Total Adjustments to Net Income -17.43 -14.81 -13.63 -11.44
Income Available to Common Excluding Extraordinary Items 180.84 168.00 159.30 139.94
Income Available to Common Stocks Including Extraordinary Items 190.79 168.00 159.30 139.94
Basic Weighted Average Shares 32.82 32.58 32.44 32.31
Basic EPS Excluding Extraordinary Items 5.51 5.16 4.91 4.33
Basic EPS Including Extraordinary Items 5.81 5.16 4.91 4.33
Dilution Adjustment 0.00 0.01
Diluted Net Income 190.79 168.00 159.30 139.94
Diluted Weighted Average Shares 32.86 32.62 32.48 32.36
Diluted EPS Excluding Extraordinary Items 5.50 5.15 4.90 4.32
Diluted EPS Including Extraordinary Items 5.81 5.15 4.90 4.32
DPS - Common Stock Primary Issue 4.60 3.60 2.80 2.00
Dividend per Share – Common Stock Issue 2 4.60 3.60 2.80 2.00
Gross Dividends - Common Stock 164.15 127.60 98.53 69.87
Total Special Items
Normalized Income Before Taxes 347.51 341.92 331.20 300.54
Effect of Special Items on Income Taxes
Income Taxes Excluding Impact of Special Items 100.17 105.94 104.68 91.84
Normalized Income After Taxes 247.34 235.98 226.52 208.70
Normalized Income Available to Common 180.84 168.00 159.30 139.94
Basic Normalized EPS 5.51 5.16 4.91 4.33
Diluted Normalized EPS 5.50 5.15 4.90 4.32
Amortization of Intangibles, Supplemental 5.26 5.21 5.32 5.77
Depreciation, Supplemental 16.77 14.85 13.80 12.16
Interest Expense, Supplemental 6.36 3.71 5.55 5.21
Rental Expense, Supplemental 84.08 83.26 82.58 81.16
Stock-Based Compensation, Supplemental 13.29 12.32 12.60 11.47
Advertising Expense, Supplemental 24.68 22.24 21.15 19.75
Equity in Affiliates, Supplemental 3.89
Minority Interest, Supplemental -49.07 -53.17 -53.60 -57.32
Audit-Related Fees, Supplemental 1.83 1.72 1.65
Audit-Related Fees --
Tax Fees, Supplemental 0.15 0.24 0.40
All Other Fees Paid to Auditor, Supplemental -- --
Gross Margin 24.54 24.51 24.49 24.25
Operating Margin 8.15 8.19 8.19 7.75
Pretax Margin 8.00 8.10 8.05 7.62
Effective Tax Rate 28.83 30.98 31.61 30.56
Net Profit Margin 4.16 3.98 3.87 3.55
Normalized EBIT 349.99 345.63 336.75 305.75
Normalized EBITDA 372.02 365.70 355.87 323.67
Current Tax - Total 100.96 103.22 99.99 91.55
Current Tax - Total 100.96 103.22 99.99 91.55
Deferred Tax - Domestic -0.78
Deferred Tax - Total 2.72 4.69 0.29
Deferred Tax - Total -0.78 2.72 4.69 0.29
Income Tax - Total 100.17 105.94 104.68 91.84
Domestic Tax
Foreign Tax
Local Tax
Income Tax by Region - Total
Defined Contribution Expense - Domestic 2.43 2.35 1.96 1.76
Total Pension Expense 2.43 2.35 1.96 1.76

In millions of USD (except for per share items)

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