Watsco, Inc. Financial Ratios — WC3 Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	11.54	13.32	16.08	17.56	18.78	18.62	18.08	18.36	17.67	18.45	26.59	33.83	26.04	21.95	18.28
Return on Assets (%)	7.22	7.01	7.62	8.75	9.66	9.98	10.62	11.55	10.43	10.7	15.04	18.29	14.86	13.07	11.18
Return on Capital (%)	4.72	4.44	5.33	6.99	8.53	9	10.71	11.57	10.4	10.61	15.58	20	15.64	13.37	11.27
Return on Invested Capital (%)	14.37	13.64	14.23	15.2	15.96	16.24	17.12	18.04	15.6	15.84	22.9	28.19	22.55	18.96	15.91
Gross Margin (%)	24.46	23.73	24.02	24.25	24.49	24.51	24.54	24.64	24.25	24.19	26.55	27.91	27.35	26.84	28.05
EBITDA Margin (%)	7.08	7.02	7.72	8.21	8.65	8.66	8.66	8.67	8.2	8.45	10.46	11.87	11.39	10.8	10.55
Operating Margin (%)	6.68	6.55	7.25	7.75	8.19	8.19	8.06	7.98	7.48	7.71	9.7	11.12	10.55	9.86	9.57
Incremental Operating Margin (%)	25.14	5.7	14.86	17.17	18.38	8.27	3.59	6.26	- -	11.65	17.91	20.09	- -	- -	15.48
Pretax Margin (%)	6.53	6.42	7.09	7.62	8.05	8.1	8	8.12	7.61	7.91	9.99	11.4	10.84	10.54	10.19
Profit Margin (%)	3.04	3.01	3.41	3.84	4.2	4.33	4.8	5.34	5.16	5.33	6.67	8.26	7.36	7.04	6.87
Net Income to Common Margin (%)	3.04	3.01	3.41	3.84	4.2	4.33	4.8	5.34	5.16	5.33	6.67	8.26	7.36	7.04	6.87
Effective Tax Rate (%)	29.21	28.44	29.26	30.56	31.61	30.98	25.96	19.71	18.49	19.17	20.52	15.16	19.72	20.79	20.35
Dvd Payout Ratio (%)	39.6	120.93	16.08	26.27	35.18	44.13	53.58	59.76	69.85	70.52	50.91	41.24	52.28	57.61	69.86
Sustainable Growth Rate (%)	6.97	-2.79	13.49	12.95	12.18	10.41	8.39	7.39	5.33	5.44	13.05	19.88	12.43	9.3	5.51

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	20	316	231	304	246	236	22	136	381	216	370	391	405	447	479
ST Debt	20	- -	- -	- -	- -	- -	- -	- -	69	72	85	147	100	110	117
LT Debt	- -	316	231	304	246	236	22	136	312	144	285	244	305	337	362
Total Debt/EBITDA	0.09	1.31	0.8	0.94	0.69	0.64	0.06	0.35	0.97	0.51	0.56	0.45	0.49	0.54	0.63
Net Debt/EBITDA	0.02	1.01	0.73	0.86	0.59	0.49	-0.15	0.13	0.38	-0.17	0.08	-0.11	-0.11	-0.64	-0.57
Total Debt/EBIT	0.1	1.41	0.85	0.99	0.73	0.68	0.06	0.37	1.04	0.54	0.59	0.47	0.51	0.57	0.66
Net Debt/EBIT	0.02	1.08	0.78	0.91	0.63	0.52	-0.16	0.14	0.41	-0.19	0.09	-0.11	-0.12	-0.67	-0.6
EBITDA to Interest Expense	47.28	51.62	49.56	62.17	64.15	98.49	59.08	143.86	97.07	344.59	659.29	398.73	168.68	- -	- -
EBITDA-CapEx/Interest Expense	47.28	51.62	49.56	62.17	64.15	98.49	59.08	143.86	97.07	344.59	659.29	398.73	168.68	- -	- -
EBIT to Interest Expense	44.65	48.21	46.52	58.73	60.71	93.09	55	132.41	88.45	314.58	611.68	373.63	156.23	- -	- -
Interest Expense	4	5	6	5	6	4	6	3	4	1	1	2	5	- -	- -
Common Equity/Total Assets	63.3	44.48	50.34	49.35	53.53	53.65	63.41	62.37	56.16	59.84	53.95	54.16	59.79	59.31	63
Long-Term Debt/Equity (%)	- -	30.94	20.45	26.84	20.42	18.83	1.42	8.48	18.19	8.11	14.28	10.83	11.64	11	11.22
Long-Term Debt/Capital (%)	- -	23.63	16.98	21.16	16.96	15.84	1.4	7.81	14.88	7.23	12.05	9.23	10.08	9.6	9.77
Long-Term Debt/Total Assets (%)	- -	18.8	13.81	16.97	13.74	12.57	1.08	6.28	12.21	5.81	9.24	6.98	8.17	7.53	8.19
Total Debt/Equity (%)	2	30.94	20.46	26.86	20.44	18.84	1.44	8.49	22.24	12.14	18.51	17.37	15.47	14.6	14.86
Total Debt/Capital (%)	1.96	23.63	16.98	21.17	16.97	15.85	1.42	7.83	18.2	10.83	15.62	14.8	13.4	12.74	12.94
Total Debt/Total Assets (%)	1.58	18.8	13.82	16.98	13.75	12.58	1.09	6.29	14.92	8.7	11.98	11.2	10.85	9.99	10.85
Net Debt to Equity	0.43	23.72	18.73	24.7	17.51	14.37	-3.75	3.32	8.79	-4.17	2.77	-4.05	-3.61	-17.17	-13.45
Net Debt/Capital (%)	0.43	19.17	15.78	19.81	14.9	12.56	-3.9	3.21	7.45	-4.01	2.46	-3.66	-3.36	-17.63	-13.26
EBITDA	211	241	289	324	356	366	376	394	391	427	657	863	830	823	764
EBITDA-CapEx	211	241	289	324	356	366	376	394	391	427	657	863	830	823	764
Operating Income (Loss)	199	225	271	306	337	346	350	363	357	390	609	809	769	751	693

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.07	0.26	0.08	0.09	0.13	0.18	0.19	0.23	0.16	0.3	0.16	0.16	0.3	0.79	1.02
Current Ratio	3.71	3.6	4.19	4.03	4.37	3.94	3.21	4.03	3.35	3.05	2.7	2.54	3.36	3.13	4.12
Quick Ratio	1.54	1.6	1.72	1.6	1.8	1.69	1.34	1.64	1.32	1.4	1.12	0.99	1.42	1.69	2.13
CFO/Avg Current Liab	0.25	0.69	0.57	0.55	0.8	0.96	0.84	0.44	0.82	1.13	0.58	0.7	0.69	0.91	0.67
Common Equity/Total Assets	63.3	44.48	50.34	49.35	53.53	53.65	63.41	62.37	56.16	59.84	53.95	54.16	59.79	59.31	63
Long-Term Debt/Equity (%)	- -	30.94	20.45	26.84	20.42	18.83	1.42	8.48	18.19	8.11	14.28	10.83	11.64	11	11.22
Long-Term Debt/Capital (%)	- -	23.63	16.98	21.16	16.96	15.84	1.4	7.81	14.88	7.23	12.05	9.23	10.08	9.6	9.77
Long-Term Debt/Total Assets (%)	- -	18.8	13.81	16.97	13.74	12.57	1.08	6.28	12.21	5.81	9.24	6.98	8.17	7.53	8.19
Total Debt/Equity (%)	2	30.94	20.46	26.86	20.44	18.84	1.44	8.49	22.24	12.14	18.51	17.37	15.47	14.6	14.86
Total Debt/Capital (%)	1.96	23.63	16.98	21.17	16.97	15.85	1.42	7.83	18.2	10.83	15.62	14.8	13.4	12.74	12.94
Total Debt/Total Assets (%)	1.58	18.8	13.82	16.98	13.75	12.58	1.09	6.29	14.92	8.7	11.98	11.2	10.85	9.99	10.85
CFO/Total Liabilities	23.06	26.26	27.72	22	38.11	45.23	61.81	30.49	39.91	75.84	32.12	46.13	50.49	54.63	47.76
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.41	9.73	9.63	9.46	9.29	9.11	9.1	9.28	9.21	9.46	10.18	10.06	9.43	9.09	8.65
Days Sales Outstanding	38.78	37.51	37.89	38.58	39.28	40.09	40.1	39.34	39.62	38.6	35.85	36.27	38.71	40.14	42.2
Inventory Turnover	5.25	5.18	5.04	4.74	4.59	4.69	4.53	4.29	4.11	4.5	4.86	4.22	3.89	4.08	3.76
Days Inventory Outstanding	69.55	70.53	72.46	77.02	79.44	77.84	80.56	85.14	88.79	81.06	75.05	86.5	93.72	89.48	97.11
Accounts Payable Turnover	15.01	17.28	17.67	19.61	19.48	19.34	16.12	16.26	16.81	15.03	16.07	13.41	12.76	13.05	12.38
Accounts Payable Turnover Days	24.32	21.13	20.65	18.62	18.74	18.87	22.64	22.44	21.71	24.28	22.72	27.23	28.59	27.98	29.47
Cash Conversion Cycle	84.01	86.91	89.7	96.99	99.98	99.05	98.02	102.03	106.69	95.38	88.18	95.54	103.84	101.65	109.85
Inventory to Cash Days	-30.77	-33.02	-34.57	-38.45	-40.16	-37.76	-40.46	-45.8	-49.16	-42.46	-39.19	-50.24	-55.01	-49.34	-54.91
Inventories	465	546	583	678	674	685	761	837	921	781	1,115	1,370	1,347	1,385	1,386
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	465	546	583	678	674	685	761	837	921	781	1,115	1,370	1,347	1,385	1,386

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	16	74	19	24	35	56	80	83	74	146	118	148	210	526	433
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	199	274	287	248	246	246	253	254	279	293	332	359	386	407	441
+ Total Debt	20	316	231	304	246	236	22	136	381	216	370	391	405	447	479
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Capital	1,022	1,338	1,358	1,436	1,450	1,488	1,573	1,738	2,096	1,996	2,367	2,639	3,021	3,512	3,701
Total Debt/Capital (%)	1.96	23.63	16.98	21.17	16.97	15.85	1.42	7.83	18.2	10.83	15.62	14.8	13.4	12.74	12.94
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	2,978	3,432	3,743	3,945	4,113	4,221	4,342	4,547	4,770	5,055	6,280	7,274	7,284	7,618	7,239
TTM EBITDA	211	241	289	324	356	366	376	394	391	427	657	863	830	823	764
TTM Operating Income	199	225	271	306	337	346	350	363	357	390	609	809	769	751	693
TTM Cash Flow to Firm	65	177	154	149	227	284	311	173	339	535	350	574	566	773	570
TTM Free Cash Flow to Firm	65	177	154	149	227	284	311	173	339	535	350	574	566	773	570

Multiples (USD)

Valuation Multiples API ChatGPT

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Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	33	34	34	35	35	35	37	37	38	38	38	38	39	40	40
Diluted Weighted Avg Shares	33	34	34	35	35	35	37	37	38	38	38	38	39	40	40
Basic Weighted Avg Shares	33	34	34	35	35	35	37	37	38	38	38	38	39	40	40
Revenue per Share	91.06	100.33	108.8	113.73	117.57	119.9	117.71	122.5	125.9	132.28	163.16	189.24	186.16	190.55	180.07
EBITDA per Share	6.45	7.04	8.4	9.33	10.17	10.39	10.19	10.62	10.33	11.17	17.06	22.46	21.21	20.58	19.01
Operating Income per Share	6.09	6.58	7.88	8.82	9.63	9.82	9.49	9.77	9.41	10.2	15.83	21.04	19.65	18.79	17.23
Basic EPS, GAAP	2.77	3.02	3.71	4.36	4.94	5.19	5.65	6.55	6.49	7.05	10.88	15.64	13.71	13.41	12.36
Basic EPS from Cont Ops	4.21	4.61	5.46	6.02	6.47	6.7	6.98	7.99	7.81	8.46	12.96	18.31	16.21	15.9	14.62
Diluted EPS, GAAP	2.77	3.02	3.71	4.36	4.94	5.19	5.65	6.55	6.49	7.05	10.88	15.64	13.71	13.41	12.36
Diluted EPS from Cont Ops	4.21	4.61	5.46	6.02	6.47	6.7	6.98	7.99	7.81	8.46	12.96	18.31	16.21	15.9	14.62
Dividend per Share	2.24	7.49	1.16	2.01	2.82	3.62	4.45	5.64	6.37	6.95	7.65	8.65	9.78	10.59	11.78
Cash Flow per Share	1.88	5.07	4.37	4.18	6.37	8	8.31	4.6	8.86	13.98	9.08	14.88	14.36	19.34	14.17
Free Cash Flow per Basic Share	1.88	5.07	4.37	4.18	6.37	8	8.31	4.6	8.86	13.98	9.08	14.88	14.36	19.34	14.17
Cash & Equivalents per Share	0.48	2.16	0.57	0.7	1.01	1.59	2.18	2.23	1.97	3.82	3.07	3.84	5.37	19.56	18.24
Book Value per Share	24.55	21.88	24.43	25.49	27.36	28.57	35.19	36.31	37.88	38.9	43.26	49.15	56.99	66.46	69.19
Tangible Book Value per Share	12.48	3.84	7.09	8.94	11.96	13.28	20.45	21.77	22.49	23.66	27.12	33.38	39.73	49.94	52.45