Inside the research
Watsco, Inc.
WSO Research profile · latest available data
Price overview
$317.23
▼ -2.98 (-0.9%)
| 52w hi | $452.97 |
|---|---|
| 52w lo | $302.29 |
| Vol | 514.30K |
| As of | 25 Sep 2026 |
The Verdict
Our score -0.59
| Short | -0.59 |
|---|---|
| Medium | -0.64 |
| Long | -0.47 |
computed 2026-09-27
Key fundamentals
Watsco, Inc.
Industrials · Industrial Distribution
| Market cap | $13.09B |
|---|---|
| Enterprise value | $12.79B |
| Trailing P/E | 27.59x |
| Forward P/E | 23.90x |
| EV / EBITDA | 18.25x |
| P / S (ttm) | 1.80x |
| Profit margin | 6.5% |
| Return on equity | 16.7% |
| Revenue growth | +2.1% |
| Earnings growth | -11.7% |
| Debt / equity | 15.41 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.12 | |
| Sector | -0.01 | |
| Technical | -0.44 | |
| Earnings | +0.00 | |
| Sentiment | -0.10 |
macro × 1.00 · 2026-09-27
Business overview
Watsco, Inc., together with its subsidiaries, engages in the distribution of air conditioning, heating, and refrigeration equipment, and related parts and supplies in the United States, Canada, Latin America, and the Caribbean. It distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment. The company also offers parts comprising replacement compressors, evaporator coils, motors, and other component parts; and supplies, such as thermostats, insulation materials, refrigerants, ductworks, grills, registers, sheet metals, tools, copper tubing, concrete pads, tapes, adhesives, and other ancillary supplies, as well as plumbing and bathroom remodeling supplies. It serves contractors and dealers that service the replacement and new construction markets for residential and light commercial central air conditioning, heating, and refrigeration systems. Watsco, Inc. was incorporated in 1956 and is headquartered in Miami, Florida.
Risk Metrics
| Beta vs SPX | 0.90 |
|---|---|
| Corr SPX | 0.44 |
| Annual vol | 33.1% |
| Annual ret | -16.2% |
| Sharpe | -0.49 |
| Max DD | -46.9% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $423.55 |
|---|---|
| High / Low | $485.00 / $370.00 |
| Median | $425.00 |
| Analysts | 11 |
| Strong Buy | 0 | |
|---|---|---|
| Buy | 2 | |
| Hold | 11 | |
| Sell | 1 | |
| Strong Sell | 0 |
Recent rating actions
| 2026-04-29 | Stephens & Co. | → Overweight |
| 2026-02-19 | JP Morgan | → Neutral |
| 2026-01-16 | JP Morgan | → Neutral |
| 2026-01-14 | Morgan Stanley | → Equal-Weight |
| 2026-01-05 | Mizuho | → Neutral |
| 2025-11-06 | UBS | → Neutral |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-07-29 | Earnings Release, Reg FD Disclosure… | read |
| 2026-06-04 | Exhibits | read |
| 2026-06-03 | Shareholder Vote | read |
| 2026-04-29 | Securities Issuance | read |
| 2026-04-28 | Earnings Release, Reg FD Disclosure… | read |
| 2026-02-17 | Earnings Release, Reg FD Disclosure… | read |
| 2025-10-29 | Earnings Release, Reg FD Disclosure… | read |
| 2025-07-30 | Earnings Release, Reg FD Disclosure… | read |
| 2025-06-05 | Shareholder Vote | read |
| 2025-04-23 | Earnings Release, Reg FD Disclosure… | read |
| 2025-02-18 | Earnings Release, Reg FD Disclosure… | read |
| 2024-11-15 | Officer / Director Change, Exhibits | read |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 9 |
| Top-5 share | 96.7% |
| HHI | 3,458 (concentrated) |
Top Holders
| Holder | Value | Shares |
|---|---|---|
| Fidelity / FMR LLC | $710.64M | 1.71M |
| State Street Corp | $551.34M | 1.32M |
| Capital Research / Capital World | $150.10M | 360.18K |
| Renaissance Technologies | $62.99M | 151.16K |
| AQR Capital Management | $29.55M | 71.38K |
| Citadel Advisors | $28.04M | 67.28K |
| Bridgewater Associates | $19.96M | 47.90K |
| Millennium Management | $3.55M | 8.51K |
| T. Rowe Price Group | $15.90K | 38.16K |
As of 2026-06-30
Dividends
| Yield (TTM) | 2.93% |
|---|---|
| $ / share (TTM) | $9.30 |
| 5y CAGR | +11.1% |
Annual dividend per share
| 2021 | $7.62 |
|---|---|
| 2022 | $8.55 |
| 2023 | $9.80 |
| 2024 | $10.55 |
| 2025 | $11.70 |
| 2026 | $6.30 |
SEC Filings
The Long Run
FY 2010–2025 · 16 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $7.28B | +9.0% | |
| Gross profit | $1.99B | +10.6% | |
| Operating income | $720.35M | +14.2% | |
| Net income | $496.99M | +17.7% | |
| Cash from ops | $561.95M | +15.7% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $319.78 | $322.92 | $316.24 | $317.23 | 514.30K |
| Sep 24 | $324.77 | $326.71 | $319.55 | $320.21 | 388.90K |
| Sep 23 | $324.58 | $329.58 | $324.50 | $325.37 | 449.90K |
| Sep 22 | $316.88 | $326.80 | $314.47 | $325.58 | 466.30K |
| Sep 21 | $313.46 | $321.85 | $309.72 | $317.69 | 560.00K |
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