Watsco (WSO) Net Margin (2009 - 2026)
Watsco's (WSO) quarterly Net Margin came in at 4.63% in Q1 2026, down 13.0% year-on-year from 5.33% in Q1 2025, and up 9.12% quarter-over-quarter from 4.25% in Q4 2025.
Watsco (WSO) Net Margin (2009 - 2026) Analysis & Trends
Watsco has disclosed Net Margin across 18 years of filings, most recently posting 4.63% for Q1 2026.
- Net Margin for Q1 2026 came in at 4.63%, down 13.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 6.98% (down 9.0% YoY), and the FY2025 annual result was 6.41%, down 14.0% from the prior year.
- Net Margin came in at 4.63% for Q1 2026 at Watsco, up from 4.25% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 10.57% in Q2 2022 to a low of 4.25% in Q4 2025.
- The 5-year median for Net Margin is 8.41% (2023), against an average of 7.84%.
- Across the five-year window, Net Margin surged 361 bps in 2022 and plunged 384 bps in 2023, its largest moves.
- Watsco's Net Margin stood at 9.94% in 2022, then slumped by 39 bps to 6.1% in 2023, then dropped by 16 bps to 5.14% in 2024, then fell by 17 bps to 4.25% in 2025, then gained by 9 bps to 4.63% in 2026.
- The last three Net Margin figures came in at 4.63% (Q1 2026), 4.25% (Q4 2025), and 7.3% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | W.W. Grainger | 63.64 Bn | 63.46 Bn | 1.75 Bn | 10.82% |
| 2 | Fastenal | 53.18 Bn | 52.87 Bn | 982.90 Mn | 15.43% |
| 3 | Ferguson Enterprises | 45.51 Bn | 44.69 Bn | 2.32 Bn | 5.54% |
| 4 | Wesco International | 17.33 Bn | 16.62 Bn | 1.29 Bn | 2.53% |
| 5 | Watsco | 14.65 Bn | 14.51 Bn | 427.56 Mn | 4.63% |
| 6 | Qxo | 12.24 Bn | 9.19 Bn | 409.30 Mn | -13.13% |
| 7 | Applied Industrial Technologies | 11.99 Bn | 11.82 Bn | 380.80 Mn | 7.97% |
| 8 | Core & Main | 9.98 Bn | 9.84 Bn | 428.00 Mn | 4.62% |
| 9 | Pool | 7.00 Bn | 6.92 Bn | 329.87 Mn | 4.68% |
| 10 | Msc Industrial Direct | 6.54 Bn | 6.49 Bn | 377.59 Mn | 4.59% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.63% |
| Dec 31, 2025 | 4.25% |
| Sep 30, 2025 | 7.30% |
| Jun 30, 2025 | 10.51% |
| Mar 31, 2025 | 4.76% |
| Dec 31, 2024 | 5.14% |
| Sep 30, 2024 | 7.37% |
| Jun 30, 2024 | 10.03% |
| Mar 31, 2024 | 6.66% |
| Dec 31, 2023 | 6.10% |
| Sep 30, 2023 | 9.43% |
| Jun 30, 2023 | 10.25% |
| Mar 31, 2023 | 8.41% |
| Dec 31, 2022 | 9.94% |
| Sep 30, 2022 | 9.14% |
| Jun 30, 2022 | 10.57% |
| Mar 31, 2022 | 8.85% |
| Dec 31, 2021 | 6.33% |
| Sep 30, 2021 | 9.25% |
| Jun 30, 2021 | 9.31% |