Watsco market cap is $8.8 b, and annual revenue was $4.77 b in FY 2019

Watsco Gross profit (Q2, 2020)319.2 M

Watsco Gross profit margin (Q2, 2020), %23.6%

Watsco Net income (Q2, 2020)104.2 M

Watsco EBIT (Q2, 2020)129.2 M

Watsco Cash, 30-Jun-202079.6 M

Watsco EV9.1 B

Watsco revenue breakdown by geographic segment: 6.2% from Canada, 90.3% from United States and 3.5% from Other

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|

## Revenue | 3.7b | 3.9b | 4.1b | 4.2b | 4.3b | 4.5b | 4.8b |

| 5% | 4% | 3% | 3% | |||

## Cost of goods sold | 3.1b | 3.2b | 3.3b | 3.4b | 3.6b | ||

## Gross profit | 1.0b | 1.0b | 1.1b | 1.1b | 1.2b | ||

| 24% | 25% | 25% | 25% | 24% | ||

## General and administrative expense | 670.6m | 689.0m | 715.7m | 757.5m | 800.3m | ||

## Operating expense total | 670.6m | 689.0m | 711.8m | 748.2m | 790.1m | ||

## EBIT | 271.2m | 305.7m | 336.7m | 345.6m | 353.9m | 372.1m | 366.9m |

| 7% | 8% | 8% | 8% | 8% | 8% | 8% |

## Interest expense | 5.5m | 3.7m | 6.4m | ||||

## Investment income | 9.3m | 10.3m | |||||

## Pre tax profit | 331.2m | 341.9m | 347.5m | 369.3m | 362.9m | ||

## Income tax expense | 104.7m | 105.9m | 90.2m | 72.8m | 67.1m | ||

## Net Income | 187.7m | 208.7m | 226.5m | 236.0m | 257.3m | 242.9m | 246.0m |

- Source: SEC Filings

USD | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 1.2b | 926.6m | 2.3b | 1.3b | 931.3m | 1.4b | 1.4b | 1.0b | 1.4b |

## Cost of goods sold | 933.7m | 695.7m | 1.7b | 977.0m | 697.5m | 1.0b | 1.1b | 760.5m | 1.0b |

## Gross profit | 295.9m | 230.8m | 551.6m | 319.0m | 233.8m | 328.0m | 334.7m | 247.6m | 319.2m |

| 24% | 25% | 24% | 25% | 25% | 24% | 24% | 25% | 24% |

## General and administrative expense | 183.7m | 178.5m | 365.1m | 200.4m | 180.1m | 196.5m | 212.9m | 203.4m | 194.1m |

## Operating expense total | 181.4m | 178.5m | 365.1m | 196.7m | 178.6m | 193.6m | 209.4m | 202.4m | 190.0m |

## EBIT | 114.5m | 53.9m | 191.3m | 122.3m | 55.1m | 134.4m | 125.3m | 45.2m | 129.2m |

| 9% | 6% | 8% | 9% | 6% | 10% | 9% | 4% | 10% |

## Interest expense | 2.1m | 565.0k | 1.3m | 1.0m | 776.0k | 1.2m | 1.4m | 790.0k | 283.0k |

## Investment income | 2.3m | 3.7m | 1.4m | 3.0m | 3.5m | 1.0m | 4.1m | ||

## Pre tax profit | 112.3m | 53.4m | 190.0m | 121.3m | 54.4m | 133.2m | 123.9m | 44.5m | 129.0m |

## Income tax expense | 32.3m | 11.0m | 39.3m | 24.4m | 10.6m | 25.3m | 24.2m | 8.2m | 24.7m |

## Net Income | 65.0m | 42.4m | 150.6m | 79.2m | 35.0m | 90.2m | 83.5m | 36.2m | 104.2m |

- Source: SEC Filings

USD | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|---|---|---|

## Cash | 126.5m | 15.7m | 73.8m | 19.5m | 24.4m | 35.2m | 56.0m | 80.5m | 82.9m | 74.5m |

## Accounts Receivable | 305.1m | 327.7m | 377.7m | 399.6m | 434.2m | 451.1m | 476.0m | 478.1m | 501.9m | 533.8m |

## Prepaid Expenses | 14.5m | 19.5m | 17.9m | 19.9m | 17.7m | |||||

## Inventories | 391.9m | 465.3m | 546.1m | 583.2m | 678.0m | 674.0m | 685.0m | 761.3m | 837.1m | 920.8m |

## Current Assets | 838.0m | 828.2m | 1.0b | 1.0b | 1.2b | 1.2b | 1.2b | 1.3b | 1.4b | 1.5b |

## PP&E | 31.2m | 39.5m | 42.8m | 45.4m | 53.5m | 62.7m | 90.5m | 91.2m | 91.0m | 98.5m |

## Goodwill | 303.7m | 319.4m | 397.3m | 392.6m | 387.3m | 378.3m | 379.7m | 382.7m | 392.0m | 411.2m |

## Total Assets | 1.2b | 1.3b | 1.7b | 1.7b | 1.8b | 1.8b | 1.9b | 2.0b | 2.2b | 2.6b |

## Accounts Payable | 182.2m | 127.4m | 185.0m | 141.1m | 173.4m | 145.2m | 185.5m | 230.5m | 200.2m | 239.7m |

## Short-term debt | 72.0k | 20.0m | 4.0k | 200.0k | 244.0k | 246.0k | 69.4m | |||

## Current Liabilities | 266.0m | 223.0m | 282.4m | 243.5m | 287.0m | 270.3m | 314.9m | 416.5m | 357.6m | 461.7m |

## Long-term debt | 10.0m | 316.2m | 235.6m | 22.1m | 271.5m | 624.0m | ||||

## Total Debt | 10.1m | 20.0m | 316.2m | 235.8m | 22.3m | 271.8m | 693.4m | |||

## Common Stock | 34.7m | |||||||||

## Additional Paid-in Capital | 472.9m | 493.5m | 592.8m | 606.4m | 580.6m | 602.5m | 592.4m | 804.0m | 832.1m | 907.9m |

## Retained Earnings | 387.2m | 404.4m | 251.5m | 339.4m | 420.9m | 495.3m | 550.5m | 594.6m | 628.0m | 632.5m |

## Total Equity | 928.9m | 1.0b | 1.0b | 1.1b | 1.1b | 1.2b | 1.3b | 1.6b | 1.6b | 1.7b |

## Debt to Equity Ratio | 0.2 x | 0 x | ||||||||

## Debt to Assets Ratio | 0.1 x | 0 x | ||||||||

## Financial Leverage | 1.3 x | 1.3 x | 1.6 x | 1.5 x | 1.6 x | 1.5 x | 1.5 x | 1.3 x | 1.3 x | 1.5 x |

- Source: SEC Filings

- Source: SEC Filings

USD | FY, 2010 | FY, 2011 | FY, 2012 | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 80.8m | 90.5m | 103.3m | 187.7m | 208.7m | 226.5m | 236.0m | 257.3m | 296.5m | 295.8m |

## Depreciation and Amortization | 10.8m | 11.7m | 15.9m | 17.7m | 17.9m | 19.1m | 20.1m | 22.0m | 22.1m | 24.5m |

## Accounts Receivable | (41.2m) | 12.0m | (5.8m) | (26.0m) | (41.0m) | (26.1m) | (26.9m) | (1.7m) | (28.8m) | 8.5m |

## Inventories | 21.4m | (22.5m) | (26.7m) | (41.0m) | (99.0m) | (3.7m) | (9.7m) | (73.4m) | (79.0m) | (15.5m) |

## Accounts Payable | 28.1m | (98.6m) | 11.9m | (7.3m) | 45.2m | (11.8m) | 43.7m | 100.0m | (57.4m) | 12.7m |

## Cash From Operating Activities | 152.8m | 61.5m | 173.3m | 150.3m | 145.0m | 222.8m | 281.7m | 306.5m | 170.6m | 335.8m |

## Purchases of PP&E | (8.4m) | (13.9m) | (12.3m) | (17.2m) | (17.8m) | |||||

## Capital Expenditures | (14.6m) | (21.5m) | (23.7m) | (43.6m) | (17.9m) | |||||

## Cash From Investing Activities | (10.1m) | (56.6m) | (92.3m) | (14.3m) | (19.1m) | (22.9m) | (42.8m) | (81.3m) | (26.3m) | (81.0m) |

## Short-term Borrowings | (10.0m) | |||||||||

## Long-term Borrowings | (2.8m) | (56.4m) | (10.2m) | (213.5m) | ||||||

## Dividends Paid | (66.0m) | (73.3m) | (256.2m) | (98.5m) | (127.6m) | (164.1m) | (209.2m) | (241.4m) | ||

## Cash From Financing Activities | (74.3m) | (115.6m) | (23.1m) | (189.0m) | (120.2m) | (187.8m) | (217.9m) | (202.1m) | (139.6m) | (264.0m) |

## Net Change in Cash | 68.4m | (110.8m) | 58.1m | 10.8m | 20.8m | 24.5m | 2.4m | (8.4m) | ||

## Interest Paid | 1.9m | 2.8m | ||||||||

## Income Taxes Paid | 45.1m | 46.8m | ||||||||

## Free Cash Flow | 135.7m | 123.5m | 199.2m | 238.2m | 288.6m |

- Source: SEC Filings

- Source: SEC Filings

USD | Q2, 2010 |
---|---|

## Financial Leverage | 1.5 x |