Watsco, Inc.
Watsco, Inc. (NYSE: WSO) distributes air conditioning, heating and refrigeration equipment, parts and supplies to contractors serving residential and commercial replacement and new-construction markets. Its products include central and ductless air conditioners, furnaces, commercial HVAC systems, replacement… From the company’s description.
In fiscal 2025, Watsco, Inc. reported revenue of $7.24B, down 5.0% from fiscal 2024, and net income of $587.59M. Its operating margin was 10.0%, and operations generated $569.61M in cash. Over the twelve months to Jun 30, 2026, revenue was $7.28B.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Watsco, Inc. does
In the company’s own words
Watsco, Inc. (NYSE: WSO) distributes air conditioning, heating and refrigeration equipment, parts and supplies to contractors serving residential and commercial replacement and new-construction markets. Its products include central and ductless air conditioners, furnaces, commercial HVAC systems, replacement components, installation supplies and commercial refrigeration equipment. Watsco serves more than 130,000 active contractors through 695 locations across the United States, Canada, Mexico and Puerto Rico, with additional export coverage in Latin America and the Caribbean. HVAC equipment accounted for 67% of 2025 revenue, other HVAC products for 29%, and commercial refrigeration products for 4%. The company’s operations include joint ventures with Carrier, which together represented 53% of revenue in 2025; its distribution business is organized through local operating companies that generally retain acquired businesses’ trade names. Watsco began its HVAC/R distribution strategy in 1989 and has expanded through acquisitions and investments, including Carrier joint ventures formed beginning in 2009. Revenue totaled $7.2 billion in fiscal 2025, and the company employed approximately 7,050 people at year-end. Its website is www.watsco.com.
Company details
- Sector
- Industrials
- Industry (SIC)
- Wholesale
- Headquarters
- COCONUT GROVE, FL
- Fiscal year end
- December
- CIK
- 105016
- SIC
- 5070
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Watsco, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Superinvestors in Watsco, Inc. · what they did last quarter
Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.
Largest fund holders · Watsco, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
By share class
| Class | Held by funds | Funds | Shares out |
|---|---|---|---|
| WSOCommon stock, $0.50 par value | 49.1% | 445 | 35.6M |
| WSO/BClass B common stock, $0.50 par value | 0.3% | 6 | 5.7M |
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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