Watsco (WSO) Operating Expenses (2009 - 2026)
Watsco (WSO) recorded Operating Expenses of $348.99 million in Q2 2026, up 2.9% from $339 million a year earlier and up 8.1% from the prior quarter.
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Analysis
Watsco (WSO) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Watsco's Operating Expenses came in at $1.35 billion as of Jun 30, 2026, up 1.6% year-over-year; for FY2025, it was $1.34 billion, up 3.4% from FY2024.
- Annual Operating Expenses has increased for 16 straight years, with a five-year compound annual growth rate of 9.9% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.29 billion in FY2024 (+5.7%), $1.22 billion in FY2023 (+0.2%), $1.22 billion in FY2022 (+15.4%) and $1.06 billion in FY2021 (+27.0%).
- The Q2 2026 figure is the highest quarterly Operating Expenses in data going back to Q2 2009.
- On a year-over-year basis, Operating Expenses rose in seven of the last eight quarters, with growth averaging 3.4%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 36.1% in Q4 2021, against a decline of 3.4% in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $322.85 million (Q1 2026), $332.65 million (Q4 2025) and $343.66 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | W.W. Grainger | 59.11 Bn | 57.09 Bn | 1.98 Bn | 1.18 Bn |
| 2 | Fastenal | 57.94 Bn | 56.86 Bn | 1.06 Bn | 561.80 Mn |
| 3 | Ferguson Enterprises | 44.13 Bn | 41.35 Bn | 2.32 Bn | 1.61 Bn |
| 4 | Sunbelt Rentals Holdings | 30.69 Bn | 30.57 Bn | 1.25 Bn | 989.00 Mn |
| 5 | Reliance | 20.00 Bn | 19.04 Bn | 1.30 Bn | 4.19 Bn |
| 6 | Wesco International | 17.78 Bn | 15.09 Bn | 1.46 Bn | 1.02 Bn |
| 7 | Applied Industrial Technologies | 12.42 Bn | 12.29 Bn | 411.22 Mn | 251.91 Mn |
| 8 | Watsco | 11.14 Bn | 9.30 Bn | 578.93 Mn | 348.99 Mn |
| 9 | Avantor | 10.34 Bn | 9.14 Bn | 537.00 Mn | 415.20 Mn |
| 10 | Core & Main | 7.82 Bn | 7.12 Bn | 573.00 Mn | 346.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 348.99 Mn |
| Mar 31, 2026 | 322.85 Mn |
| Dec 31, 2025 | 332.65 Mn |
| Sep 30, 2025 | 343.66 Mn |
| Jun 30, 2025 | 339.00 Mn |
| Mar 31, 2025 | 322.58 Mn |
| Dec 31, 2024 | 338.49 Mn |
| Sep 30, 2024 | 326.37 Mn |
| Jun 30, 2024 | 319.03 Mn |
| Mar 31, 2024 | 309.55 Mn |
| Dec 31, 2023 | 312.46 Mn |
| Sep 30, 2023 | 319.83 Mn |
| Jun 30, 2023 | 304.16 Mn |
| Mar 31, 2023 | 287.06 Mn |
| Dec 31, 2022 | 301.75 Mn |
| Sep 30, 2022 | 321.52 Mn |
| Jun 30, 2022 | 314.75 Mn |
| Mar 31, 2022 | 283.35 Mn |
| Dec 31, 2021 | 292.09 Mn |
| Sep 30, 2021 | 281.92 Mn |
API Access
Watsco Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=WSO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "WSO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=WSO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();