About Watsco, Inc. Common Stock Company overview from Wikipedia

Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.

WSO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$313.45

Market Cap

$12.23B

P/E (TTM)

25.6

EPS (TTM)

$12.25

Revenue (TTM)

$7.24B

Div Yield

3.9%

ROE

18.3%

Debt/Equity

—

52W Range

$301 – $459

WSO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $7.24B

2016-12-31 → 2025-12-31

EPS $12.25

2016-12-31 → 2025-12-31

Free Cash Flow $535M

2016-12-31 → 2025-12-31

Margins 6.9%

2016-12-31 → 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

WSO

Peer Median

P/E (TTM)

25.6

25.1

P/S (TTM)

1.7

1.8

P/B

4.4

4.9

Price / FCF

22.9

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

WSO

Peer Median

Gross Margin

28.1%

28.0%

Operating Margin

10.0%

—

Net Profit Margin

6.9%

6.8%

ROA

11.2%

8.4%

ROE

18.3%

21.6%

ROIC

20.6%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

WSO

Peer Median

Current Ratio

4.1

2.4

Quick Ratio

2.1

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

WSO

Peer Median

Revenue YoY

-5.0%

—

Revenue CAGR 3Y

-0.16%

—

Revenue CAGR 5Y

7.4%

—

EPS YoY

-7.9%

—

Net Income YoY

-7.3%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

WSO

Peer Median

EPS (Diluted)

$12.25

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

WSO

Peer Median

Payout Ratio

95.3%

—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield

3.9%

Payout Ratio

95.3%

5Y Div CAGR

—

Ex-date	Amount
July 16, 2026	$3.3000
April 16, 2026	$3.3000
Jan. 16, 2026	$3.0000
Oct. 16, 2025	$3.0000
July 16, 2025	$3.0000
April 15, 2025	$3.0000
Jan. 17, 2025	$2.7000
Oct. 16, 2024	$2.7000
July 16, 2024	$2.7000
April 12, 2024	$2.7000
Jan. 16, 2024	$2.4500
Oct. 16, 2023	$2.4500
July 14, 2023	$2.4500
April 14, 2023	$2.4500
Jan. 13, 2023	$2.4500
Oct. 14, 2022	$2.2000
July 14, 2022	$2.2000
April 13, 2022	$2.2000
Jan. 13, 2022	$1.9500
Oct. 14, 2021	$1.9500

WSO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

HOLD 23 analysts

Strong Buy 2 8.7%
Buy 0 0.0%
Hold 14 60.9%
Sell 5 21.7%
Strong Sell 2 8.7%

12-Month Price Target

10 analysts · 2026-08-17

Median $367.00

Mean $382.20

← Below all targets $313.45

Low $330.00

High $485.00

Median target $367.00 +17.1%

Mean target $382.20 +21.9%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

-0.25%

Period	EPS Actual	EPS Est	Surprise
June 30, 2026	$4.00	$4.48	-0.48%
March 31, 2026	$1.87	$1.71	0.16%
Dec. 31, 2025	$1.68	$1.90	-0.22%
Sept. 30, 2025	$3.98	$4.24	-0.26%
June 30, 2025	$4.52	$4.85	-0.32%
March 31, 2025	$1.93	$2.28	-0.35%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
WSO	$13.14B	27.5	-5.0%	6.9%	18.3%	28.1%
FERG	—	24.0	3.8%	6.0%	32.3%	30.7%
SUNB	$31.40B	24.3	3.4%	11.9%	17.7%	38.5%
WCC	$11.90B	18.7	7.8%	2.7%	12.8%	—
QXO	$13.01B	-30.6	11925.0%	-4.1%	-2.9%	23.0%
AIT	$12.44B	30.9	8.8%	8.3%	22.4%	30.3%
CNM	—	23.1	2.8%	5.8%	23.9%	26.9%
MSM	—	25.3	-1.4%	5.3%	14.3%	40.8%
GATX	$6.00B	18.6	9.8%	19.1%	12.8%	—
RUSHA	—	16.5	-4.8%	3.5%	12.1%	19.7%
URI	$51.06B	21.0	4.9%	15.5%	28.4%	38.2%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 14

Annual Income Statement data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	$7.24B	$7.62B	$7.28B	$7.27B	$6.28B	$5.05B	$4.77B	$4.55B	$4.34B	$4.22B	$4.11B	$3.94B
Cost of Revenue	$5.21B	$5.57B	$5.29B	$5.24B	$4.61B	$3.83B	$3.61B	$3.43B	$3.28B	$3.19B	$3.11B	$2.99B
Gross Profit	$2.03B	$2.04B	$1.99B	$2.03B	$1.67B	$1.22B	$1.16B	$1.12B	$1.07B	$1.03B	$1.01B	$956M
SG&A Expense	$1.34B	$1.29B	$1.22B	$1.22B	$1.06B	$833M	$800M	$757M	$716M	$689M	$671M	$651M
Operating Income	$720M	$782M	$795M	$832M	$629M	$401M	$367M	$372M	$354M	$346M	$337M	$306M
Interest Expense	·	·	·	·	·	·	·	·	·	·	$6M	$5M
Pretax Income	$738M	$803M	$790M	$829M	$628M	$400M	$363M	$369M	$348M	$342M	$331M	$301M
Income Tax	$150M	$167M	$156M	$126M	$129M	$77M	$67M	$73M	$90M	$106M	$105M	$92M
Net Income	$497M	$536M	$536M	$601M	$419M	$270M	$246M	$243M	$208M	$183M	$173M	$151M
EPS (Basic)	$12.27	$13.34	$13.72	$15.46	$10.83	$7.03	$6.51	$6.50	$5.81	$5.16	$4.91	$4.33
EPS (Diluted)	$12.25	$13.30	$13.67	$15.41	$10.78	$7.01	$6.50	$6.49	$5.81	$5.15	$4.90	$4.32
Shares (Basic)	37,835,054	37,391,461	36,406,148	·	35,244,230	35,069,516	34,644,700	34,319,890	32,824,947	32,582,385	32,435,961	32,308,073
Shares (Diluted)	37,899,859	37,510,332	36,531,683	·	35,423,838	35,150,571	34,675,641	34,374,269	32,862,633	32,616,504	32,480,356	32,358,854
EBITDA	$764M	$823M	$830M	$863M	$657M	$427M	$391M	$394M	$376M	$366M	$356M	$324M

Balance Sheet 27

Annual Balance Sheet data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	$433M	$526M	$210M	$148M	$118M	$146M	$74M	$83M	$80M	$56M	$35M	$24M
Short-term Investments	$300M	$256M	$0	·	·	·	·	·	·	·	·	·
Receivables	$796M	$878M	$798M	$747M	$698M	$535M	$534M	$502M	$478M	$476M	$451M	$434M
Inventory	$1.39B	$1.39B	$1.35B	$1.37B	$1.12B	$781M	$921M	$837M	$761M	$685M	$674M	$678M
Other Current Assets	$39M	$35M	$37M	$34M	$29M	$22M	$18M	$20M	$17M	$23M	$21M	$21M
Current Assets	$2.95B	$3.08B	$2.39B	$2.30B	$1.96B	$1.48B	$1.55B	$1.44B	$1.34B	$1.24B	$1.18B	$1.16B
PP&E (Net)	$136M	$141M	$136M	$125M	$111M	$98M	$99M	$91M	$91M	$91M	$63M	$53M
PP&E (Gross)	$410M	$390M	$358M	$322M	$285M	$256M	$244M	$223M	$214M	$204M	$167M	$150M
Accum. Depreciation	$274M	$250M	$221M	$196M	$174M	$158M	$145M	$132M	$123M	$114M	$104M	$97M
Goodwill	$463M	$452M	$457M	$431M	$434M	$412M	$412M	$411M	$383M	$380M	$378M	$387M
Intangibles	$210M	$208M	$218M	$175M	$187M	$170M	$172M	$148M	$161M	$159M	$160M	$186M
Other Non-current Assets	$14M	$11M	$11M	$8M	$9M	$12M	$9M	$8M	$74M	$6M	$6M	$6M
Total Assets	$4.41B	$4.48B	$3.73B	$3.49B	$3.09B	$2.48B	$2.56B	$2.16B	$2.05B	$1.87B	$1.79B	$1.79B
Accounts Payable	$350M	$491M	$369M	$456M	$364M	$252M	$240M	$200M	$230M	$185M	$145M	$173M
Accrued Liabilities	$250M	$383M	$242M	$303M	$278M	$164M	$153M	$157M	$186M	$129M	$125M	$113M
Current Liabilities	$718M	$984M	$712M	$907M	$727M	$487M	$462M	$358M	$416M	$315M	$270M	$287M
Capital Leases	$351M	$322M	$277M	$232M	$187M	·	$154M	·	·	·	·	·
Deferred Tax	·	·	·	·	·	·	·	·	·	$69M	·	·
Total Debt	·	·	·	·	·	·	·	·	·	·	$246M	$304M
Common Stock	$20M	$19M	$19M	$19M	$19M	$19M	$19M	$18M	$18M	$18M	$18M	$18M
Paid-in Capital	·	·	·	·	·	·	·	·	·	·	·	$581M
Retained Earnings	$1.32B	$1.30B	$1.18B	$1.03B	$761M	$636M	$633M	$628M	$595M	$550M	$495M	$421M
Treasury Stock	$73M	$73M	$87M	$87M	$87M	$87M	$87M	$87M	$87M	$114M	$114M	$114M
AOCI	$-50M	$-60M	$-42M	$-48M	$-34M	$-35M	$-39M	$-46M	$-34M	$-44M	$-47M	$-24M
Stockholders' Equity	$2.78B	$2.66B	$2.23B	$1.89B	$1.66B	$1.49B	$1.44B	$1.35B	$1.30B	$1.01B	$957M	$884M
Liabilities + Equity	$4.41B	$4.48B	$3.73B	$3.49B	$3.09B	$2.48B	$2.56B	$2.16B	$2.05B	$1.87B	$1.79B	$1.79B
Shares Outstanding	39,008,240	38,861,032	38,705,586	38,108,752	37,881,247	37,702,489	37,536,363	36,952,762	36,825,128	36,682,562	36,616,197	36,444,289

Cash Flow 16

Annual Cash Flow data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$44M	$41M	$35M	$32M	$28M	$26M	$25M	$22M	$22M	$20M	$19M	$18M
Stock-based Comp	$35M	$35M	$30M	$29M	$25M	$22M	$17M	$16M	$13M	$12M	$13M	$11M
Deferred Tax	$18M	$229.0K	$-7M	$13M	$6M	$40.0K	$1M	$8M	$-11M	$3M	$5M	$289.0K
Amort. of Intangibles	$5M	$5M	$4M	$5M	$6M	$6M	$6M	$5M	$5M	$5M	$5M	$6M
Other Non-cash	$-25M	$161M	$-32M	$-103M	$-129M	$217M	$47M	$-118M	$74M	$60M	$12M	$-36M
Operating Cash Flow	$570M	$773M	$562M	$572M	$350M	$534M	$336M	$171M	$307M	$282M	$223M	$145M
CapEx	$35M	$30M	$35M	$36M	$25M	$16M	$18M	$17M	$18M	$44M	$24M	$22M
Investing Cash Flow	$-98M	$-291M	$-41M	$-34M	$-149M	$-16M	$-81M	$-26M	$-81M	$-43M	·	·
Stock Issued	·	·	·	$20M	$21M	$19M	$13M	$7M	$5M	$6M	$6M	$4M
Net Stock Activity	·	·	·	$20M	$21M	$19M	$13M	$7M	$5M	$6M	$6M	$4M
Dividends Paid	$474M	$424M	$383M	$332M	$295M	$266M	$241M	$209M	$164M	$128M	$99M	$70M
Financing Cash Flow	$-568M	$-159M	$-460M	$-504M	$-229M	$-448M	$-264M	$-140M	$-202M	$-218M	·	·
Net Change in Cash	$-93M	$316M	$63M	$29M	$-28M	$72M	$-8M	$2M	$24M	$21M	$11M	$5M
Taxes Paid	$165M	$125M	$188M	$106M	$125M	$71M	$70M	$115M	$48M	$99M	$103M	$83M
Free Cash Flow	$535M	$743M	$526M	$536M	$324M	$518M	$318M	$153M	$289M	$234M	$198M	$123M
Levered FCF	·	·	·	·	·	·	·	·	·	·	$194M	$120M

Profitability 8

Annual Profitability data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Gross Margin	28.1%	26.8%	27.4%	27.9%	26.6%	24.2%	24.2%	24.6%	24.5%	24.5%	24.5%	24.2%
Operating Margin	10.0%	10.3%	10.9%	11.4%	10.0%	7.9%	7.7%	8.2%	8.2%	8.2%	8.2%	7.8%
Net Margin	6.9%	7.0%	7.4%	8.3%	6.7%	5.3%	5.2%	5.3%	4.8%	4.3%	4.2%	3.8%
Pretax Margin	10.2%	10.5%	10.8%	11.4%	10.0%	7.9%	7.6%	8.1%	8.0%	8.1%	8.1%	7.6%
EBITDA Margin	10.5%	10.8%	11.4%	11.9%	10.5%	8.5%	8.2%	8.7%	8.7%	8.7%	8.6%	8.2%
ROA	11.2%	13.1%	14.9%	18.3%	15.0%	10.7%	10.4%	11.6%	10.6%	10.0%	9.7%	8.8%
ROE	18.3%	21.9%	26.0%	33.8%	26.6%	18.4%	17.7%	18.4%	18.1%	18.6%	18.8%	17.6%
ROIC	20.6%	23.3%	28.6%	37.3%	30.0%	21.8%	20.8%	22.2%	20.2%	23.7%	19.1%	17.9%

Liquidity & Solvency 5

Annual Liquidity & Solvency data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Current Ratio	4.1	3.1	3.4	2.5	2.7	3.0	3.4	4.0	3.2	3.9	4.4	4.0
Quick Ratio	2.1	1.7	1.4	1.0	1.1	1.4	1.3	1.6	1.3	1.7	1.8	1.6
Debt / Equity	·	·	·	·	·	·	·	·	·	·	0.3	0.3
LT Debt / Equity	·	·	·	·	·	·	·	·	·	·	0.3	0.3
Interest Coverage	·	·	·	·	·	·	·	·	·	·	60.7	58.7

Efficiency 3

Annual Efficiency data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover	1.6	1.9	2.0	2.2	2.3	2.0	2.0	2.2	2.2	2.3	2.3	2.3
Inventory Turnover	3.8	4.1	3.9	4.2	4.9	4.5	4.1	4.3	4.5	4.7	4.6	4.7
Receivables Turnover	8.6	9.1	9.4	10.1	10.2	9.5	9.2	9.3	9.1	9.1	9.3	9.5

Per Share 6

Annual Per Share data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$71.30	$68.37	$57.61	$49.57	$43.95	$39.43	$38.24	$36.47	$35.25	$27.42	$26.14	$24.26
Revenue / Share	$191.01	·	·	·	$177.29	$143.81	$137.57	$132.27	$132.12	$129.40	$126.64	$121.90
Cash Flow / Share	$15.03	·	·	·	$9.87	$15.20	$9.68	$4.96	$9.33	$8.52	$6.82	$4.48
Cash / Share	$11.11	$13.54	$5.43	$3.87	$3.12	$3.87	$1.98	$2.24	$2.19	$1.53	$0.96	$0.67
Dividend / Share	$12	$11	$10	$9	$8	$7	$6	$6	$5	$4	$3	$2
EPS (TTM)	$12.25	$13.30	$13.67	$15.41	$10.78	$7.01	$6.50	$6.49	$5.81	$5.15	$4.90	$4.32

Growth Rates 10

Annual Growth Rates data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	-5.0%	4.6%	0.13%	15.8%	24.2%	·	·	·	·	·	·	·
Revenue CAGR 3Y	-0.16%	6.7%	13.0%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	7.4%	·	·	·	·	·	·	·	·	·	·	·
EPS YoY	-7.9%	-2.7%	-11.3%	43.0%	53.8%	·	·	·	·	·	·	·
EPS CAGR 3Y	-7.4%	7.2%	24.9%	·	·	·	·	·	·	·	·	·
EPS CAGR 5Y	11.8%	·	·	·	·	·	·	·	·	·	·	·
Net Income YoY	-7.3%	-0.01%	-10.8%	43.5%	55.4%	·	·	·	·	·	·	·
Net Income CAGR 3Y	-6.2%	8.6%	25.8%	·	·	·	·	·	·	·	·	·
Net Income CAGR 5Y	13.0%	·	·	·	·	·	·	·	·	·	·	·
Dividend CAGR 5Y	12.3%	·	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 17

Annual Valuation (TTM) data for WSO
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	$7.24B	$7.62B	$7.28B	$7.27B	$6.28B	$5.05B	$4.77B	$4.55B	$4.34B	$4.22B	$4.11B	$3.94B
Net Income TTM	$497M	$536M	$536M	$601M	$419M	$270M	$246M	$243M	$208M	$183M	$173M	$151M
Market Cap	$13.14B	$18.42B	$16.58B	$9.50B	$11.85B	$8.54B	$6.76B	$5.14B	$6.26B	$5.43B	$4.29B	$3.90B
Enterprise Value	·	·	·	·	·	·	·	·	·	·	$4.50B	$4.18B
P/E	27.5	35.6	31.3	16.2	29.0	32.3	27.7	21.4	29.3	28.8	23.9	24.8
P/S	1.8	2.4	2.3	1.3	1.9	1.7	1.4	1.1	1.4	1.3	1.0	1.0
P/B	4.7	6.9	7.4	5.0	7.1	5.7	4.7	3.8	4.8	5.4	4.5	4.4
P / Tangible Book	6.2	9.2	10.7	7.4	11.4	9.4	·	·	·	·	·	·
P / Cash Flow	23.1	23.8	29.5	16.6	33.9	16.0	20.1	30.1	20.4	19.6	19.4	26.9
P / FCF	24.6	24.8	31.5	17.7	36.6	16.5	21.3	33.5	21.7	23.2	21.7	31.6
EV / EBITDA	·	·	·	·	·	·	·	·	·	·	12.6	12.9
EV / FCF	·	·	·	·	·	·	·	·	·	·	22.8	33.8
EV / Revenue	·	·	·	·	·	·	·	·	·	·	1.1	1.1
Dividend Yield	3.6%	2.3%	2.3%	3.5%	2.5%	3.1%	3.6%	4.1%	2.6%	2.4%	2.3%	1.8%
Earnings Yield	3.6%	2.8%	3.2%	6.2%	3.5%	3.1%	3.6%	4.7%	3.4%	3.5%	4.2%	4.0%
Payout Ratio	95.3%	79.0%	71.3%	55.3%	70.3%	98.6%	98.2%	86.1%	78.8%	69.8%	57.0%	46.2%
Annual Payout	$474M	$424M	$383M	$332M	$295M	$266M	$241M	$209M	$164M	$128M	$99M	$70M

Income Statement 13

Quarterly Income Statement data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$2.10B	$1.53B	$1.58B	$2.07B	$2.06B	$1.53B	$1.75B	$2.16B	$2.14B	$1.56B	$1.60B	$2.13B	$2.00B	$1.55B	$1.58B	$2.04B
Cost of Revenue	$1.53B	$1.11B	$1.15B	$1.50B	$1.46B	$1.10B	$1.29B	$1.59B	$1.56B	$1.13B	$1.19B	$1.56B	$1.44B	$1.10B	$1.15B	$1.48B
Gross Profit	$579M	$428M	$428M	$569M	$603M	$430M	$468M	$566M	$580M	$431M	$414M	$567M	$563M	$448M	$434M	$551M
SG&A Expense	$349M	$323M	$333M	$344M	$339M	$323M	$338M	$326M	$319M	$310M	$312M	$320M	$304M	$287M	$302M	$322M
Operating Income	$238M	$110M	$102M	$235M	$272M	$112M	$136M	$250M	$269M	$127M	$108M	$257M	$266M	$165M	$137M	$236M
Pretax Income	$242M	$117M	$107M	$238M	$274M	$118M	$143M	$257M	$274M	$129M	$109M	$255M	$262M	$164M	$137M	$236M
Income Tax	$51M	$24M	$20M	$49M	$57M	$23M	$28M	$55M	$59M	$25M	$11M	$54M	$57M	$34M	$-20M	$50M
Net Income	$163M	$79M	$72M	$162M	$184M	$80M	$97M	$171M	$181M	$87M	$83M	$171M	$173M	$110M	$138M	$158M
EPS (Basic)	$4.00	$1.87	$1.83	$3.98	$4.53	$1.93	$2.43	$4.24	$4.50	$2.17	$2.09	$4.36	$4.43	$2.84	$3.57	$4.04
EPS (Diluted)	$4.00	$1.87	$1.82	$3.98	$4.52	$1.93	$2.42	$4.22	$4.49	$2.17	$2.07	$4.35	$4.42	$2.83	$3.55	$4.03
Shares (Basic)	38,162,359	37,932,743	21,718	37,860,987	37,825,623	37,752,203	77,372	37,552,000	·	·	·	·	·	·	·	·
Shares (Diluted)	38,192,692	37,964,580	9,262	37,918,392	37,899,430	37,853,255	76,482	37,671,752	·	·	·	·	·	·	·	·
EBITDA	$238M	$121M	·	$235M	$272M	$123M	·	$250M	$269M	$136M	·	$257M	$266M	$173M	·	$236M

Balance Sheet 24

Quarterly Balance Sheet data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$364M	$393M	$433M	$324M	$293M	$432M	$526M	$294M	$225M	$279M	·	$175M	$163M	$141M	·	$130M
Short-term Investments	$100M	$200M	$300M	$200M	$0	$0	$256M	$256M	$200M	$200M	·	·	·	·	·	·
Receivables	$1.06B	$839M	$796M	$942M	$1.02B	$794M	$878M	$945M	$1.00B	$832M	·	$949M	$991M	$811M	·	$860M
Inventory	$1.89B	$1.72B	$1.39B	$1.60B	$1.95B	$1.78B	$1.39B	$1.60B	$1.57B	$1.66B	·	$1.55B	$1.69B	$1.61B	·	$1.39B
Other Current Assets	$39M	$34M	$39M	$48M	$38M	$33M	$35M	$42M	$35M	$32M	·	$56M	$40M	$31M	·	$35M
Current Assets	$3.45B	$3.18B	$2.95B	$3.12B	$3.30B	$3.04B	$3.08B	$3.13B	$3.03B	$3.00B	·	$2.73B	$2.88B	$2.60B	·	$2.41B
PP&E (Net)	$147M	$133M	$136M	$135M	$137M	$138M	$141M	$140M	$138M	$138M	·	$134M	$128M	$127M	·	$122M
PP&E (Gross)	·	·	$410M	·	·	·	$390M	·	·	·	·	·	·	·	·	·
Accum. Depreciation	·	·	$274M	·	·	·	$250M	·	·	·	·	·	·	·	·	·
Goodwill	$560M	$461M	$463M	$465M	$466M	$455M	$452M	$459M	$458M	$459M	$457M	$492M	$432M	$431M	$431M	$430M
Intangibles	$205M	$208M	$210M	$207M	$210M	$207M	$208M	$212M	$212M	$214M	·	$172M	$176M	$174M	·	$175M
Other Non-current Assets	$16M	$14M	$14M	$13M	$13M	$12M	$11M	$11M	$11M	$12M	·	$10M	$10M	$9M	·	$8M
Total Assets	$5.08B	$4.65B	$4.41B	$4.55B	$4.73B	$4.45B	$4.48B	$4.52B	$4.40B	$4.36B	·	$4.04B	$4.10B	$3.80B	·	$3.58B
Accounts Payable	$660M	$587M	$350M	$411M	$678M	$546M	$491M	$549M	$564M	$688M	·	$509M	$602M	$593M	·	$474M
Accrued Liabilities	$300M	$247M	$250M	$284M	$277M	$266M	$383M	$276M	$277M	$236M	·	$280M	$260M	$267M	·	$376M
Current Liabilities	$1.08B	$952M	$718M	$812M	$1.07B	$925M	$984M	$933M	$945M	$1.03B	·	$888M	$956M	$953M	·	$940M
Capital Leases	$406M	·	$351M	·	·	·	$322M	·	·	·	·	·	·	·	·	·
Common Stock	$20M	$20M	$20M	$19M	$19M	$19M	$19M	$19M	$19M	$19M	·	$19M	$19M	$19M	·	$19M
Retained Earnings	$1.31B	$1.28B	$1.32B	$1.37B	$1.33B	$1.27B	$1.30B	$1.31B	$1.25B	$1.17B	·	$1.20B	$1.12B	$1.04B	·	$977M
Treasury Stock	$73M	$73M	$73M	$73M	$73M	$73M	$73M	$74M	$74M	$74M	·	$87M	$87M	$87M	·	$87M
AOCI	$-57M	$-53M	$-50M	$-54M	$-49M	$-60M	$-60M	$-47M	$-50M	$-48M	·	$-47M	$-43M	$-48M	·	$-50M
Stockholders' Equity	$2.99B	$2.76B	$2.78B	$2.81B	$2.76B	$2.67B	$2.66B	$2.70B	$2.61B	$2.53B	·	$2.22B	$2.04B	$1.93B	·	$1.91B
Liabilities + Equity	$5.08B	$4.65B	$4.41B	$4.55B	$4.73B	$4.45B	$4.48B	$4.52B	$4.40B	$4.36B	·	$4.04B	$4.10B	$3.80B	·	$3.58B
Shares Outstanding	·	·	39,008,240	·	·	·	38,861,032	·	·	·	·	·	·	·	·	·

Cash Flow 13

Quarterly Cash Flow data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$11M	$11M	$11M	$11M	$11M	$11M	$10M	$10M	$10M	$10M	$10M	$9M	$8M	$8M	$8M	$8M
Stock-based Comp	$9M	$8M	$9M	$9M	$9M	$9M	$10M	$9M	$8M	$8M	$9M	$7M	$7M	$7M	$7M	$7M
Deferred Tax	·	·	$13M	$2M	·	·	$-6M	$2M	·	·	$-13M	$2M	·	·	$7M	$2M
Other Non-cash	·	$-117M	·	·	·	$-277M	·	·	·	$-1M	·	·	·	$-172M	·	·
Operating Cash Flow	$-3M	$-19M	$400M	$355M	$-7M	$-178M	$379M	$233M	$58M	$104M	$299M	$353M	$-42M	$-47M	$213M	$286M
CapEx	$9M	$7M	$11M	$9M	$7M	$8M	$8M	$10M	$6M	$6M	$10M	$10M	$8M	$8M	$9M	$8M
Investing Cash Flow	$99M	$93M	$-112M	$-209M	$-22M	$245M	$-8M	$-65M	$-6M	$-211M	$-13M	$-10M	$-7M	$-10M	$-7M	$-8M
Stock Issued	·	·	·	·	·	·	·	·	·	·	·	·	·	$9M	·	$8M
Net Stock Activity	·	·	·	·	·	·	·	·	·	·	·	·	·	$9M	·	·
Dividends Paid	$134M	$122M	$122M	$122M	$121M	$109M	$109M	$109M	$109M	$97M	$97M	$96M	$95M	$95M	$85M	$86M
Financing Cash Flow	$-123M	$-114M	$-180M	$-114M	$-113M	$-162M	$-133M	$-99M	$-105M	$178M	$-252M	$-328M	$69M	$51M	$-188M	$-273M
Net Change in Cash	$-28M	$-41M	$109M	$31M	$-139M	$-94M	$232M	$70M	$-54M	$69M	$35M	$12M	$22M	$-7M	$17M	$1M
Free Cash Flow	·	$-26M	·	·	·	$-185M	·	·	·	$98M	·	·	·	$-55M	·	·

Profitability 8

Quarterly Profitability data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Gross Margin	27.5%	27.9%	·	27.5%	29.3%	28.1%	·	26.2%	27.1%	27.5%	·	26.7%	28.1%	28.9%	·	27.1%
Operating Margin	11.3%	7.2%	·	11.4%	13.2%	7.3%	·	11.6%	12.6%	8.1%	·	12.1%	13.3%	10.6%	·	11.6%
Net Margin	7.8%	5.2%	·	7.8%	8.9%	5.2%	·	7.9%	8.5%	5.6%	·	8.0%	8.6%	7.1%	·	7.7%
Pretax Margin	11.5%	7.6%	·	11.5%	13.3%	7.7%	·	11.9%	12.8%	8.2%	·	12.0%	13.1%	10.6%	·	11.6%
EBITDA Margin	11.3%	7.9%	·	11.4%	13.2%	8.0%	·	11.6%	12.6%	8.7%	·	12.1%	13.3%	11.2%	·	11.6%
ROA	3.3%	1.7%	·	3.6%	4.0%	1.8%	·	4.0%	4.3%	2.1%	·	4.5%	4.4%	3.0%	·	4.7%
ROE	5.7%	2.9%	·	5.9%	6.8%	3.1%	·	7.0%	7.8%	3.9%	·	8.3%	8.9%	6.0%	·	8.9%
ROIC	6.3%	3.2%	·	6.6%	7.8%	3.4%	·	7.3%	8.1%	4.0%	·	9.1%	10.2%	6.8%	·	9.8%

Liquidity & Solvency 2

Quarterly Liquidity & Solvency data for WSO
Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio		3.2	3.3	·	3.8	3.1	3.3	·	3.4	3.2	2.9	·	3.1	3.0	2.7	·	2.6
Quick Ratio		1.4	1.5	·	1.8	1.2	1.3	·	1.6	1.5	1.3	·	1.3	1.2	1.0	·	1.1

Efficiency 3

Quarterly Efficiency data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover	0.4	0.3	·	0.5	0.5	0.3	·	0.5	0.5	0.4	·	0.6	0.5	0.4	·	0.6
Inventory Turnover	0.8	0.6	·	0.9	0.8	0.6	·	1.0	1.0	0.7	·	1.1	0.9	0.7	·	1.2
Receivables Turnover	2.0	1.9	·	2.2	2.0	1.9	·	2.3	2.1	1.9	·	2.4	2.0	1.9	·	2.5

Per Share 5

Quarterly Per Share data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue / Share	$55.11	$40.38	·	$54.51	·	·	·	·	·	·	·	·	·	·	·	·
Cash Flow / Share	·	$-0.50	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Dividend / Share	$3	$3	$3	$3	$3	$3	$3	$3	$3	$2	$2	$2	$2	$2	$2	$2
Dividend Paid / Share	$3	$3	·	$3	$3	$3	·	$3	$3	$2	·	·	·	·	·	·
EPS (TTM)	$14.37	$12.30	·	$14.65	$15.16	$12.81	·	$15.23	$15.43	$13.77	·	$15.63	$16.21	$14.69	·	$15.48

Valuation (TTM) 5

Quarterly Valuation (TTM) data for WSO
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$7.77B	$7.19B	·	$7.82B	$7.89B	$7.40B	·	$7.99B	$7.83B	$7.25B	·	$7.72B	$7.72B	$7.24B	·	$7.48B
Net Income TTM	$588M	$504M	·	$596M	$616M	$520M	·	$610M	$612M	$541M	·	$611M	$633M	$574M	·	$604M
P/E	29.0	29.6	·	27.6	29.1	39.7	·	32.3	30.0	31.4	·	24.2	23.5	21.7	·	16.6
Earnings Yield	3.5%	3.4%	·	3.6%	3.4%	2.5%	·	3.1%	3.3%	3.2%	·	4.1%	4.2%	4.6%	·	6.0%
Payout Ratio	·	154.0%	·	·	·	136.2%	·	·	·	111.2%	·	·	·	86.3%	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$7.24B	$7.62B	$7.28B	$7.27B	$6.28B
Gross Margin %	28.1%	26.8%	27.4%	27.9%	26.6%
Operating Margin %	10.0%	10.3%	10.9%	11.4%	10.0%
Net Income	$497M	$536M	$536M	$601M	$419M
Diluted EPS	$12.25	$13.30	$13.67	$15.41	$10.78

Balance Sheet

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Current Ratio	4.1	3.1	3.4	2.5	2.7
Quick Ratio	2.1	1.7	1.4	1.0	1.1

Cash Flow

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$535M	$743M	$526M	$536M	$324M

Latest News Recent headlines mentioning this company

Watsco Agrees To Acquire Jackson Supply Company For Undisclosed Sum Nasdaq · 3 months, 3 weeks ago
Noteworthy Monday Option Activity: GEV, WSO, INOD Nasdaq · 3 months, 3 weeks ago

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Institutional owners (13F) 851 filers · $11.6B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
97 (-9 vs prior Q)	69 (-11 vs prior Q)	242 (-38 vs prior Q)	281 (+52 vs prior Q)	+2.1M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
Capital International Investors	$1,452,268,757	3,485,525	12.51%	Shares
VANGUARD GROUP INC	$1,099,775,485	3,263,913	9.47%	Shares
Capital Research Global Investors	$792,709,378	1,902,230	6.83%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$737,833,384	1,770,531	6.36%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$658,104,183	1,579,210	5.67%	Shares
STATE STREET CORP	$551,338,374	1,323,011	4.75%	Shares
FMR LLC	$413,484,327	992,212	3.56%	Shares
BAILLIE GIFFORD & CO	$261,317,214	627,066	2.25%	Shares
BLAIR WILLIAM & CO/IL	$235,045,592	564,024	2.02%	Shares
DAVENPORT & Co LLC	$220,063,905	530,366	1.90%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$216,302,574	520,356	1.86%	Shares
BOSTON FINANCIAL MANGEMENT LLC	$162,265,389	342,412	1.40%	Shares
RAYMOND JAMES FINANCIAL INC	$152,787,420	366,634	1.32%	Shares
NORGES BANK	$141,875,729	340,450	1.22%	Shares
Capital World Investors	$141,278,971	339,018	1.22%	Shares
Hamlin Capital Management, LLC	$126,820,941	304,324	1.09%	Shares
CAPTRUST FINANCIAL ADVISORS	$124,607,762	299,013	1.07%	Shares
Bahl & Gaynor LLC	$111,540,285	267,656	0.96%	Shares
ENVESTNET ASSET MANAGEMENT INC	$108,703,116	260,848	0.94%	Shares
CALEDONIA INVESTMENTS PLC	$97,067,669	232,927	0.84%	Shares
PRINCIPAL FINANCIAL GROUP INC	$96,707,199	232,062	0.83%	Shares
VANGUARD FIDUCIARY TRUST CO	$92,389,874	221,702	0.80%	Shares
Welch & Forbes LLC	$87,213,345	209,280	0.75%	Shares
BROWN BROTHERS HARRIMAN & CO	$84,681,203	203,204	0.73%	Shares
DIMENSIONAL FUND ADVISORS LP	$83,794,970	201,078	0.72%	Shares
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	$81,598,651	195,807	0.70%	Shares
TWO SIGMA ADVISERS, LP	$79,041,731	234,580	0.68%	Shares
Findlay Park Partners LLP	$78,695,293	188,840	0.68%	Shares
BANK OF AMERICA CORP /DE/	$70,398,199	168,930	0.61%	Shares
DONALDSON CAPITAL MANAGEMENT, LLC	$69,264,520	166,210	0.60%	Shares
AMERIPRISE FINANCIAL INC	$65,647,905	157,527	0.57%	Shares
GOLDMAN SACHS GROUP INC	$64,161,418	153,964	0.55%	Shares
RENAISSANCE TECHNOLOGIES LLC	$62,992,907	151,160	0.54%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$62,801,211	150,700	0.54%	Call option
Vantage Investment Partners, LLC	$62,522,405	171,864	0.54%	Shares
Corient Private Wealth LP	$60,023,938	144,050	0.52%	Shares
BENJAMIN EDWARDS INC	$53,140,410	127,467	0.46%	Shares
WELLINGTON MANAGEMENT GROUP LLP	$52,753,017	126,588	0.45%	Shares
NEUBERGER BERMAN GROUP LLC	$52,347,821	125,616	0.45%	Shares
JACOBS LEVY EQUITY MANAGEMENT, INC	$51,580,756	123,775	0.44%	Shares
RIVERBRIDGE PARTNERS LLC	$50,146,693	120,334	0.43%	Shares
Baird Financial Group, Inc.	$46,947,552	112,657	0.40%	Shares
RHUMBLINE ADVISERS	$45,363,497	108,856	0.39%	Shares
KING LUTHER CAPITAL MANAGEMENT CORP	$43,753,132	104,992	0.38%	Shares
AEGON ASSET MANAGEMENT UK Plc	$43,325,334	103,965	0.37%	Shares
Swiss National Bank	$41,074,576	98,564	0.35%	Shares
TWO SIGMA INVESTMENTS, LP	$39,873,560	95,682	0.34%	Shares
STIFEL FINANCIAL CORP	$39,300,879	94,302	0.34%	Shares
ANCHOR CAPITAL ADVISORS LLC	$38,233,976	91,748	0.33%	Shares
Swedbank AB	$36,251,342	86,990	0.31%	Shares
DEARBORN PARTNERS LLC	$34,732,872	83,346	0.30%	Shares
Conestoga Capital Advisors, LLC	$33,744,712	80,975	0.29%	Shares
HOWLAND CAPITAL MANAGEMENT LLC	$33,544,579	80,495	0.29%	Shares
Fenimore Asset Management Inc	$33,428,830	80,217	0.29%	Shares
DUDLEY & SHANLEY, INC.	$32,509,941	78,012	0.28%	Shares
ALPS ADVISORS INC	$29,596,581	71,021	0.25%	Shares
CAPITAL ADVISORS INC/OK	$29,548,641	70,906	0.25%	Shares
UBS Group AG	$29,096,089	69,820	0.25%	Shares
Giverny Capital Inc.	$27,493,762	65,975	0.24%	Shares
Sumitomo Mitsui Trust Group, Inc.	$27,475,426	65,931	0.24%	Shares
Epoch Investment Partners, Inc.	$27,068,697	64,955	0.23%	Shares
Capital International, Inc./CA/	$26,464,855	63,506	0.23%	Shares
BlackRock, Inc.	$26,288,162	63,082	0.23%	Shares
Gotham Asset Management, LLC	$26,282,328	63,068	0.23%	Shares
JONES FINANCIAL COMPANIES LLLP	$24,058,976	58,575	0.21%	Shares
Pembroke Management, LTD	$21,113,209	50,664	0.18%	Shares
DDD Partners, LLC	$21,014,027	50,426	0.18%	Shares
HEARTLAND ADVISORS INC	$20,778,158	49,860	0.18%	Shares
California Public Employees Retirement System	$20,528,120	49,260	0.18%	Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$20,425,000	49,013	0.18%	Shares
Retirement Systems of Alabama	$20,149,312	48,351	0.17%	Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	$20,009,905	55,004	0.17%	Shares
Bridgewater Associates, LP	$19,960,117	47,897	0.17%	Shares
Williams Jones Wealth Management, LLC.	$18,789,106	45,087	0.16%	Shares
VICTORY CAPITAL MANAGEMENT INC	$18,534,067	44,475	0.16%	Shares
GRACE & WHITE INC /NY	$17,586,006	42,200	0.15%	Shares
ALLIANCEBERNSTEIN L.P.	$17,366,971	47,739	0.15%	Shares
Markel Group Inc.	$17,335,968	41,600	0.15%	Shares
GENEVA CAPITAL MANAGEMENT LLC	$17,159,727	41,177	0.15%	Shares
FIFTH THIRD BANCORP	$16,863,878	40,467	0.15%	Shares
Mitsubishi UFJ Asset Management Co., Ltd.	$16,823,807	40,371	0.14%	Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	$16,540,430	39,691	0.14%	Shares
STOREBRAND ASSET MANAGEMENT AS	$15,671,132	37,605	0.14%	Shares
Bath Savings Trust Co	$15,244,192	36,581	0.13%	Shares
LaFleur & Godfrey LLC	$15,232,772	36,553	0.13%	Shares
Redmond Asset Management, LLC	$14,309,617	34,338	0.12%	Shares
Motley Fool Asset Management LLC	$14,089,225	33,809	0.12%	Shares
Patrick Mauro Investment Advisor, INC.	$13,867,820	33,278	0.12%	Shares
LPL Financial LLC	$13,659,130	32,777	0.12%	Shares
CITADEL ADVISORS LLC	$12,785,693	30,681	0.11%	Shares
Carnegie Investment Counsel	$12,706,514	30,491	0.11%	Shares
Prospera Financial Services Inc	$12,440,742	29,849	0.11%	Shares
Mirae Asset Global Investments Co., Ltd.	$12,223,108	29,331	0.11%	Shares
Crown Oak Advisors, LLC	$12,216,265	29,315	0.11%	Shares
AVIVA PLC	$12,018,076	28,839	0.10%	Shares
Squarepoint Ops LLC	$11,746,369	28,187	0.10%	Shares
Quantinno Capital Management LP	$11,531,028	27,670	0.10%	Shares
Sumitomo Mitsui DS Asset Management Company, Ltd	$11,318,804	27,161	0.10%	Shares
BARCLAYS PLC	$11,294,633	27,103	0.10%	Shares
CITADEL ADVISORS LLC	$11,293,383	27,100	0.10%	Put option

Company insiders 28 insiders · 6 officers · 24 directors

Insider	Role	Last activity	Shares owned	Net 12m
Albert H Nahmad	Chairman and CEO	March 11, 2026 J	92	$0
Ana M Menendez	CFO / Treasurer	March 11, 2026 J	1,573	$0
Aaron J Nahmad	President	March 11, 2026 J	526	$0
Stephen F. Rush	EVP and COO	March 9, 2020 J	852	$0
Barry S Logan	Executive Vice President	March 11, 2026 J	1,802	$0
Terrence C Kelly	Executive Vice President	March 30, 2004 J	1,107	$0
Ana Lopez-Blazquez	Director	Dec. 12, 2025 M	293	$0
Denise Dickins	Director	Dec. 5, 2025 G	21,638	$0
Gary L Tapella	Director	July 24, 2025 A	5,000	$0
John Michael Custer	Director	June 10, 2025 S	3,552	$0
Cesar L Alvarez	Director	March 5, 2025 A	400	$0
John Alexander Macdonald	Director	May 9, 2024 M	0	$0
Valerie Schimel	Director	June 6, 2022 A	—	$0
Steven Rubin	Director	June 6, 2022 A	608	$0
Bob L Moss	Director	June 1, 2022 M	36,500	$0
Brian E. Keeley	Director	March 23, 2022 M	0	$0
George Sape	Director	Aug. 3, 2020 M	0	$0
Jason Epstein	Director	June 4, 2018 A	—	$0
WATSCO INC	Director	June 4, 2018 A	—	$0
David C. Darnell	Director	June 5, 2017 A	5,754	$0
Steven R Fedrizzi	Director	July 1, 2016 A	2,113	$0
MANLEY PAUL F	Director	Nov. 21, 2014 S	6,248	$0
Robert L Berner III	Director	Dec. 14, 2007 A	100	$0
Victor Lopez	Director	June 7, 2007 M	0	$0
Robert H Dickinson	Director	June 16, 2006 S	7,000	$0
Frederick H Joseph	Director	March 9, 2006 M	0	$0
Sherwood M Weiser	Director	June 20, 2005 M	6,667	$0
Paul W Johnston	—	Aug. 16, 2013 J	630	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 1 position

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Undisclosed reporting person	Aug. 20, 2007	—	Initial filing	—	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 117 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
TMFG · RBB Fund, Inc.	2.89%	28,075 NS	May 31, 2026	N-PORT
NBET · Neuberger Berman ETF Trust	2.56%	2,622 NS	April 30, 2026	N-PORT
SDOG · ALPS ETF Trust	1.88%	70,899 NS	May 31, 2026	N-PORT
TMFM · RBB Fund, Inc.	1.61%	5,129 NS	May 31, 2026	N-PORT
UPGD · Invesco Exchange-Traded Fund Trust	1.59%	5,868 SH	Aug. 8, 2026	Daily
RUNN · Strategic Trust	1.51%	14,177 NS	May 31, 2026	N-PORT
FDV · Federated Hermes ETF Trust	1.46%	24,940 NS	April 30, 2026	N-PORT
MCOW · Pacer Funds Trust	1.33%	30 NS	April 30, 2026	N-PORT
GDIV · Harbor ETF Trust	1.04%	5,362 NS	April 30, 2026	N-PORT
HOMZ · ETF Series Solutions	0.87%	808 NS	May 31, 2026	N-PORT
IVOV · VANGUARD ADMIRAL FUNDS	0.84%	30,058 SH	Aug. 8, 2026	Daily
DVY · iShares Trust	0.77%	564,989 SH	Aug. 8, 2026	Daily
TMFX · RBB Fund, Inc.	0.69%	605 NS	May 31, 2026	N-PORT
CGDG · Capital Group Dividend Growers ETF	0.65%	90,017 NS	May 31, 2026	N-PORT
CGCV · Capital Group Conservative Equity E…	0.64%	30,537 NS	May 31, 2026	N-PORT
IJJ · iShares Trust	0.64%	178,049 SH	Aug. 8, 2026	Daily
MIDE · DBX ETF Trust	0.53%	48 NS	May 29, 2026	N-PORT
PTMC · Pacer Funds Trust	0.45%	4,007 NS	April 30, 2026	N-PORT
VBK · VANGUARD INDEX FUNDS	0.40%	463,780 SH	Aug. 8, 2026	Daily
IVOO · VANGUARD ADMIRAL FUNDS	0.40%	56,546 SH	Aug. 8, 2026	Daily
XJH · iShares Trust	0.35%	4,736 SH	Aug. 8, 2026	Daily
QVMM · Invesco Exchange-Traded Fund Trust …	0.34%	4,541 SH	Aug. 8, 2026	Daily
SCHD · SCHWAB STRATEGIC TRUST	0.32%	833,804 NS	May 31, 2026	N-PORT
IJH · iShares Trust	0.31%	1,207,777 SH	Aug. 8, 2026	Daily
MIDU · Direxion Shares ETF Trust	0.30%	578 NS	April 30, 2026	N-PORT
MVV · ProShares Trust	0.28%	1,206 NS	May 31, 2026	N-PORT
FXR · First Trust Exchange-Traded AlphaDE…	0.26%	4,095 NS	April 30, 2026	N-PORT
RWK · Invesco Exchange-Traded Fund Trust …	0.25%	10,224 SH	Aug. 8, 2026	Daily
SCHM · SCHWAB STRATEGIC TRUST	0.24%	94,371 NS	May 31, 2026	N-PORT
FIDU · FIDELITY COVINGTON TRUST	0.22%	10,377 NS	April 30, 2026	N-PORT
DFVE · DoubleLine ETF Trust	0.21%	156 NS	March 31, 2026	N-PORT
JQUA · J.P. Morgan Exchange-Traded Fund Tr…	0.20%	33,994 NS	April 30, 2026	N-PORT
UMDD · ProShares Trust	0.19%	169 NS	May 31, 2026	N-PORT
VIS · VANGUARD WORLD FUND	0.19%	42,442 SH	Aug. 8, 2026	Daily
HDV · iShares Trust	0.18%	81,864 SH	Aug. 8, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.17%	802,903 SH	Aug. 8, 2026	Daily
TMFE · RBB Fund, Inc.	0.16%	373 NS	May 31, 2026	N-PORT
SMLF · iShares Trust	0.16%	21,232 SH	Aug. 8, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.16%	401,726 SH	Aug. 8, 2026	Daily
SIZE · iShares Trust	0.15%	2,104 SH	Aug. 8, 2026	Daily
SMMD · iShares Trust	0.15%	17,513 SH	Aug. 8, 2026	Daily
EUSA · iShares, Inc.	0.15%	8,822 SH	Aug. 8, 2026	Daily
AVMC · AMERICAN CENTURY ETF TRUST	0.14%	1,529 NS	May 31, 2026	N-PORT
IYJ · iShares Trust	0.13%	7,948 SH	Aug. 8, 2026	Daily
IWS · iShares Trust	0.11%	52,520 SH	Aug. 8, 2026	Daily
FNX · First Trust Exchange-Traded AlphaDE…	0.08%	2,495 NS	April 30, 2026	N-PORT
IWR · iShares Trust	0.08%	142,606 SH	Aug. 8, 2026	Daily
IMCG · iShares Trust	0.08%	10,118 SH	Aug. 8, 2026	Daily
IMCB · iShares Trust	0.08%	4,018 SH	Aug. 8, 2026	Daily
IMCV · iShares Trust	0.07%	2,565 SH	Aug. 8, 2026	Daily
SMDX · Tidal Trust III	0.07%	203 NS	April 30, 2026	N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS	0.07%	1,394 NS	May 31, 2026	N-PORT
VIG · VANGUARD SPECIALIZED FUNDS	0.06%	197,754 SH	Aug. 8, 2026	Daily
VYM · VANGUARD WHITEHALL FUNDS	0.06%	139,338 SH	Aug. 8, 2026	Daily
VEGN · ETF Series Solutions	0.06%	195 NS	April 30, 2026	N-PORT
DFUV · Dimensional ETF Trust	0.05%	16,613 NS	April 30, 2026	N-PORT
OMFL · Invesco Exchange-Traded Self-Indexe…	0.05%	7,087 SH	Aug. 8, 2026	Daily
USXF · iShares Trust	0.04%	2,026 SH	Aug. 8, 2026	Daily
DFAC · Dimensional ETF Trust	0.04%	43,144 NS	April 30, 2026	N-PORT
SCHV · SCHWAB STRATEGIC TRUST	0.04%	17,755 NS	May 31, 2026	N-PORT
DEUS · DBX ETF Trust	0.04%	306 NS	May 29, 2026	N-PORT
DFSU · Dimensional ETF Trust	0.04%	1,950 NS	April 30, 2026	N-PORT
PFM · Invesco Exchange-Traded Fund Trust	0.04%	995 SH	Aug. 8, 2026	Daily
VONV · VANGUARD SCOTTSDALE FUNDS	0.04%	21,084 SH	Aug. 8, 2026	Daily
DCOR · Dimensional ETF Trust	0.04%	2,549 NS	April 30, 2026	N-PORT
DXUV · Dimensional ETF Trust	0.04%	334 NS	April 30, 2026	N-PORT
GVUS · Goldman Sachs ETF Trust	0.04%	411 NS	May 31, 2026	N-PORT
IUSV · iShares Trust	0.04%	30,644 SH	Aug. 8, 2026	Daily
EQAL · Invesco Exchange-Traded Fund Trust …	0.04%	907 SH	Aug. 8, 2026	Daily
DIVB · iShares Trust	0.03%	1,884 SH	Aug. 8, 2026	Daily
IWD · iShares Trust	0.03%	77,504 SH	Aug. 8, 2026	Daily
AVSU · AMERICAN CENTURY ETF TRUST	0.03%	351 NS	May 31, 2026	N-PORT
AQLT · iShares Trust	0.03%	262 SH	Aug. 8, 2026	Daily
FNDX · SCHWAB STRATEGIC TRUST	0.03%	18,177 NS	May 31, 2026	N-PORT
BKLC · BNY Mellon ETF Trust	0.03%	3,086 NS	April 30, 2026	N-PORT
DFAU · Dimensional ETF Trust	0.03%	6,616 NS	April 30, 2026	N-PORT
AVLC · AMERICAN CENTURY ETF TRUST	0.02%	851 NS	May 31, 2026	N-PORT
BBUS · J.P. Morgan Exchange-Traded Fund Tr…	0.02%	4,400 NS	April 30, 2026	N-PORT
IUS · Invesco Exchange-Traded Self-Indexe…	0.02%	703 SH	Aug. 8, 2026	Daily
FNDB · SCHWAB STRATEGIC TRUST	0.02%	873 NS	May 31, 2026	N-PORT
VOXP · Advisors Series Trust	0.02%	3 NS	April 30, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.02%	10,041 NS	April 30, 2026	N-PORT
PRF · Invesco Exchange-Traded Fund Trust	0.02%	6,440 SH	Aug. 8, 2026	Daily
ONOF · Global X Funds	0.02%	81 NS	May 31, 2026	N-PORT
VTI · VANGUARD INDEX FUNDS	0.02%	1,111,450 SH	Aug. 8, 2026	Daily
VONE · VANGUARD SCOTTSDALE FUNDS	0.02%	5,725 SH	Aug. 8, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.02%	2,954 SH	Aug. 8, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.02%	7,900 SH	Aug. 8, 2026	Daily
TOV · EA Series Trust	0.02%	115 NS	April 30, 2026	N-PORT
QARP · DBX ETF Trust	0.02%	40 NS	May 29, 2026	N-PORT
SCHX · SCHWAB STRATEGIC TRUST	0.02%	36,582 NS	May 31, 2026	N-PORT
GUSA · Goldman Sachs ETF Trust II	0.02%	1,188 NS	May 31, 2026	N-PORT
ILCG · iShares Trust	0.02%	1,854 SH	Aug. 8, 2026	Daily
AVUS · AMERICAN CENTURY ETF TRUST	0.02%	6,568 NS	May 31, 2026	N-PORT
SCHK · SCHWAB STRATEGIC TRUST	0.02%	2,807 NS	May 31, 2026	N-PORT
SCHB · SCHWAB STRATEGIC TRUST	0.02%	20,688 NS	May 31, 2026	N-PORT
PBUS · Invesco Exchange-Traded Fund Trust …	0.02%	6,178 SH	Aug. 8, 2026	Daily
ILCB · iShares Trust	0.02%	674 SH	Aug. 8, 2026	Daily
GXLC · Global X Funds	0.02%	2 NS	May 31, 2026	N-PORT
IWB · iShares Trust	0.02%	24,212 SH	Aug. 8, 2026	Daily
IYY · iShares Trust	0.02%	1,490 SH	Aug. 8, 2026	Daily
KOKU · DBX ETF Trust	0.02%	343 NS	May 29, 2026	N-PORT
ITOT · iShares Trust	0.02%	45,397 SH	Aug. 8, 2026	Daily
IWV · iShares Trust	0.01%	9,392 SH	Aug. 8, 2026	Daily
ILCV · iShares Trust	0.01%	624 SH	Aug. 8, 2026	Daily
TILT · FlexShares Trust	0.01%	616 NS	April 30, 2026	N-PORT
SFY · Tidal Trust I	0.01%	235 NS	May 31, 2026	N-PORT
TOK · iShares Trust	0.01%	100 SH	Aug. 8, 2026	Daily
MSLC · MORGAN STANLEY PATHWAY FUNDS	0.01%	1,340 NS	May 31, 2026	N-PORT
URTH · iShares, Inc.	0.01%	3,068 SH	Aug. 8, 2026	Daily
ACWI · iShares Trust	0.01%	10,945 SH	Aug. 8, 2026	Daily
EQL · ALPS ETF Trust	0.01%	390 NS	May 31, 2026	N-PORT
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.01%	30,295 SH	Aug. 8, 2026	Daily
DFVX · Dimensional ETF Trust	0.01%	64 NS	April 30, 2026	N-PORT
DFLV · Dimensional ETF Trust	0.00%	343 NS	April 30, 2026	N-PORT
EBI · RBB Fund Trust	0.00%	3 NS	May 31, 2026	N-PORT
CLSE · Trust for Professional Managers	-0.12%	-1,942 NS	May 31, 2026	N-PORT

About Watsco, Inc. Common Stock Company overview from Wikipedia

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Institutional owners (13F) 851 filers · $11.6B total · As of June 30, 2026

Company insiders 28 insiders · 6 officers · 24 directors

Activists & 5%+ owners 1 position

ETF ownership Held by 117 ETFs