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Watsco WSO Q4 2025 Annual earnings

Reported February 17, 2026 · Before market open

Revenue$1.6BMiss by $38.1MDiluted EPS$1.68Miss by $0.20
Revenue estimate$1.6B
EPS estimate$1.88

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$2.1B
EPS estimate$4.36

Financials

Q4 2025

Income statement

See full
Revenue$1.6B-10.0%
Gross profit$428.4M-8.5%
Operating income$101.5M-25.5%
Net income$71.7M-25.9%
EPS (diluted)$1.77-25.6%

Balance sheet

See full
Cash & equivalents$433.3M-17.7%
Total debt$957.6M+7.0%
Total equity$2.8B+4.7%
Total assets$4.4B-1.4%

Cash flow

See full
Operating cash flow$399.8M+5.5%
CapEx$11.3M+40.6%
Free cash flow$388.5M+4.7%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$13.67B-28.6%
Enterprise value$14.19B-27.2%
P/E27.5×-8.2×
P/S1.9×-0.6×

Profitability

See full
Gross margin28%+1.2pp
Operating margin10%-0.3pp
Net margin6.9%-0.2pp
FCF margin7.4%-2.4pp

Returns & leverage

See full
Return on equity18.3%-3.7pp
Debt / equity0.3×0.0×
Current ratio4.1×+1.0×

Versus estimates

Revenue

Q1 2026$1.5BBeat by $45.8M
Q4 2025$1.6BMiss by $38.1M
Q3 2025$2.1BMiss by $98.1MQ2 2025$2.1BMiss by $162.4MQ1 2025$1.5BMiss by $704.2MQ4 2024$1.8BBeat by $89.5M

Diluted EPS

Q1 2026$1.87Beat by $0.14
Q4 2025$1.68Miss by $0.20
Q3 2025$3.98Miss by $0.46Q2 2025$4.52Miss by $0.26Q1 2025$1.93Miss by $0.36Q4 2024$2.37Beat by $0.22

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Questions, answered.

When did Watsco report Q4 2025 earnings?
Watsco (WSO) reported Q4 2025 earnings on February 17, 2026 before market open.
What were Watsco's Q4 2025 revenue and EPS?
Watsco reported revenue of $1.6B and diluted EPS of $1.68 for Q4 2025.
Did Watsco beat estimates in Q4 2025?
Revenue missed the consensus estimate of $1.6B by $38.1M. EPS missed the consensus estimate of $1.88 by $0.20.
How did Watsco's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 10.0% from $1.8B a year earlier and diluted EPS declined 29.1% from $2.37.
Where can I find Watsco's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-053048) and the 10-K periodic report (0001193125-26-082486) directly on SEC EDGAR. The filing index links above go to sec.gov.