Watsco

Manufacturing & Industrial Retail air conditioning customer services distribution electronics manufacturer

Watsco, Inc. (NYSE:WSO) is the largest distributor of heating, air conditioning, and refrigeration (HVAC/R) products with 507 locations in 36 states, Puerto Rico, Latin America and the Caribbean. Founded more than 50 years ago as a manufacturer of parts and components for HVAC/R equipment, Watsco entered the distribution segment in 1989 and has become the industry leader with sales of $2.0 billion in 2009. Watsco has 4,000 employees assisting over 50,000 contractors who, in turn, service, repair or replace HVAC/R systems. Watsco meets contractor’s needs by supplying the products required for the four major industry segments: Air conditioners, furnaces and related parts (50%) Air movement products, including ductwork and insulation (25%) Controls, including thermostats and air treatment systems (15%) Refrigeration products (10%)

Revenue(FY, 2016)

$4.2 B

Market capitalization(2017-08-18)

$5.2 B

Company Growth (employees)

Type

Public

Miami, US

Founded

1947

Size (employees)

5,050 (est)

Website

watsco.com

Watsco was founded in 1947 and is headquartered in Miami, US

Watsco Office Locations

Watsco has an office in Miami

Miami, US (HQ)

901 2665 S Bayshore Dr

Watsco Data and Metrics

Watsco Financial Metrics

Watsco's revenue was reported to be $4.2 b in FY, 2016 which is a 3% increase from the previous period.

Summary

USD

Watsco's current market capitalization is $5.2 b.

Income Statement

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	3.7 b	3.9 b	4.1 b	4.2 b
Revenue growth, %		5%	4%	3%
Cost of goods sold			3.1 b	3.2 b
Gross profit	899.3 m	956.4 m	1 b	1 b
Gross profit Margin, %	24%	24%	24%	25%
General and administrative expense				689 m
Operating expense total				689 m
EBIT	271.2 m	305.7 m	336.7 m	345.6 m
EBIT margin, %	7%	8%	8%	8%
Interest expense			5.5 m	3.7 m
Pre tax profit			331.2 m	341.9 m
Income tax expense			104.7 m	105.9 m
Net Income	187.7 m	208.7 m	226.5 m	236 m

Balance Sheet

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	19.5 m	24.4 m	35.2 m	56 m
Accounts Receivable	399.6 m	434.2 m	451.1 m	476 m
Inventories	583.2 m	678 m	674 m	685 m
Current Assets	1 b	1.2 b	1.2 b	1.2 b
PP&E	45.4 m	53.5 m	62.7 m	90.5 m
Goodwill	392.6 m	387.3 m	378.3 m	379.7 m
Total Assets	1.7 b	1.8 b	1.8 b	1.9 b
Accounts Payable	141.1 m	173.4 m	145.2 m	185.5 m
Current Liabilities	243.5 m	287 m	270.3 m	314.9 m
Additional Paid-in Capital	606.4 m	580.6 m	602.5 m	592.4 m
Retained Earnings	339.4 m	420.9 m	495.3 m	550.5 m
Total Equity	1.1 b	1.1 b	1.2 b	1.3 b
Financial Leverage	1.5 x	1.6 x	1.5 x	1.5 x

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	16.9 m	16.7 m	16.3 m	21.9 m	28.5 m	32.9 m	30.5 m	35.9 m	47.4 m
Accounts Receivable	549.9 m	502.5 m	436.5 m	599.1 m	510 m	464.2 m	606.5 m	548 m	481.6 m
Inventories	760 m	729.9 m	800.9 m	799 m	751.9 m	746.1 m	749.3 m	739.7 m	751.5 m
Current Assets	1.3 b	1.3 b	1.3 b	1.4 b	1.3 b	1.3 b	1.4 b	1.3 b	1.3 b
PP&E	45.1 m	45.4 m	53.1 m	61 m	63.3 m	61.9 m	60.3 m	59.7 m	90.5 m
Goodwill	392.4 m	389.4 m	382.5 m	383.3 m	380 m	381.2 m	381.5 m	380.8 m	380.2 m
Total Assets	2 b	1.9 b	1.9 b	2.1 b	1.9 b	1.9 b	2 b	2 b	1.9 b
Accounts Payable	269 m	224.3 m	238.3 m	243.5 m	200.6 m	222.5 m	273.3 m	229.7 m	259.7 m
Current Liabilities	385.7 m	340.8 m	356.1 m	371.9 m	331 m	347.3 m	406.5 m	358.1 m	378.9 m
Additional Paid-in Capital	616 m	576.3 m	588.1 m	593 m	597.5 m	610.3 m	610.3 m	614.8 m	575 m
Retained Earnings	384.3 m	417.8 m	419.4 m	460.2 m	493.5 m	490.8 m	525.3 m	558.2 m	539.3 m
Total Equity	1.2 b	1.1 b	1.1 b	1.2 b	1.2 b	1.2 b	1.3 b	1.3 b	1.2 b
Financial Leverage	1.7 x	1.7 x	1.7 x	1.7 x	1.6 x	1.5 x	1.6 x	1.5 x	1.6 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	187.7 m	208.7 m	226.5 m	236 m
Depreciation and Amortization	17.7 m	17.9 m	19.1 m	20.1 m
Accounts Receivable	(26 m)	(41 m)	(26 m)	(26.9 m)
Inventories	(41 m)	(99 m)	(3.7 m)	(9.7 m)
Accounts Payable	(7.3 m)	45.2 m	(13.2 m)	39.8 m
Cash From Operating Activities	150.3 m	145 m	221.4 m	277.8 m
Capital Expenditures	(14.6 m)	(21.5 m)	(23.7 m)	(43.6 m)
Cash From Investing Activities	(14.3 m)	(19.1 m)	(22.9 m)	(42.8 m)
Cash From Financing Activities	(189 m)	(120.2 m)	(186.3 m)	(213.9 m)
Free Cash Flow	164.8 m	166.5 m	245.1 m	234.2 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Accounts Receivable	549.9 m	502.5 m	436.5 m	599.1 m	510 m	464.2 m	606.5 m	548 m	481.6 m
Inventories	760 m	729.9 m	800.9 m	799 m	751.9 m	746.1 m	749.3 m	739.7 m	751.5 m
Accounts Payable	269 m	224.3 m	238.3 m	243.5 m	200.6 m	222.5 m	273.3 m	229.7 m	259.7 m

Ratios

	Y, 2017
Financial Leverage	1.6 x

Watsco Market Value History

Watsco Job Categories

Market Position of Watsco

Competitors

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Watsco

Company Growth (employees)

Watsco Office Locations

Watsco Data and Metrics

Watsco Financial Metrics

Summary

Revenue (FY, 2016)

Revenue growth (FY, 2015 - FY, 2016), %

Gross profit (FY, 2016)

Gross profit margin (FY, 2016), %

Net income (FY, 2016)

EBIT (FY, 2016)

Market capitalization (18-Aug-2017)

Cash (31-Mar-2017)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventories

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash

Accounts Receivable

Inventories

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

Capital Expenditures

Cash From Investing Activities

Cash From Financing Activities

Free Cash Flow

Accounts Receivable

Inventories

Accounts Payable

Ratios

Financial Leverage

Watsco Market Value History

Watsco Job Categories

Market Position of Watsco

Competitors

Traffic Overview of Watsco

Watsco Online and Social Media Presence

Watsco Company Life and Culture

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