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Watsco Inc income statement

In fiscal 2025, Watsco Inc reported revenue of $7.24bn, down 5.0% on the year before, operating income of $720m (a 10.0% margin) and net income of $497m, or $12.25 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Revenue2,0022,8452,9783,4323,7433,9454,1134,2214,3424,5474,7705,0556,2807,2747,2847,6187,2397,284
Cost of revenue1,5212,1712,2492,6172,8442,9883,1063,1863,2763,4263,6133,8324,6135,2445,2925,5745,2095,280
Gross profit4816737288148999561,0071,0351,0661,1201,1571,2231,6682,0301,9922,0452,0302,004
Selling, general and administrative4005085295896286516716897167578008331,0581,2211,2241,2931,3381,348
Operating income81166199225271306337346354372367401629832795782720685
Interest expense3345656———————————
Net interest income—————−5−6−4−6−3−4−1−1−2−5211720
Income before tax78162195220265301331342348369363400628829790803738704
Income tax27505763789210510690736777129126156167150144
Net income438190103128151173183208243246270419601536536497476
Diluted EPS$1.40$2.49$2.74$2.70$3.68$4.32$4.90$5.15$5.81$6.49$6.50$7.01$10.78$15.41$13.67$13.30$12.25$12.52
Diluted shares (average)29m31m31m32m32m32m32m33m33m34m35m35m35m—37m38m38m38m
EBITDA90176211241289324356366376394391427657863830823764729

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Watsco Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Watsco Inc.