Watsco (WSO) Operating Margin (2009 - 2026)

Watsco (WSO) posted Operating Margin of 7.19% for Q1 2026, up 11.76% sequentially from 6.43% in Q4 2025, and down 14.0% YoY from 8.36% in Q1 2025.

Analysis

Watsco (WSO) Operating Margin (2009 - 2026) Analysis & Trends

Watsco has reported Operating Margin for 18 years, with the latest figure at 7.19% in Q1 2026.

Quarterly Operating Margin fell 14.0% year-over-year to 7.19% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 9.92% (down 20.0% YoY) and the FY2025 annual result came in at 9.95%, down 31.0% from the prior year.
Operating Margin rose to 7.19% in Q1 2026 per WSO's latest filing, from 6.43% in the prior quarter.
Over five years, Operating Margin peaked at 13.46% in Q2 2022 and troughed at 6.43% in Q4 2025.
A 5-year average of 10.18% and a median of 11.23% in 2022 frame the typical range for Operating Margin.
The sharpest annual moves came in 2022 and 2024: Operating Margin soared 402 bps in 2022, then sank 254 bps in 2024.
Over 5 years, Operating Margin stood at 8.68% in 2022, then retreated by 23 bps to 6.72% in 2023, then gained by 16 bps to 7.76% in 2024, then dropped by 17 bps to 6.43% in 2025, then gained by 12 bps to 7.19% in 2026.
According to Business Quant data, Operating Margin over the past three periods registered 7.19%, 6.43%, and 11.36% for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	W.W. Grainger	61.10 Bn	60.51 Bn	1.98 Bn	16.07%
2	Fastenal	55.30 Bn	55.09 Bn	1.06 Bn	21.02%
3	Ferguson Enterprises	43.00 Bn	42.18 Bn	2.32 Bn	8.19%
4	Wesco International	16.35 Bn	15.54 Bn	1.46 Bn	5.73%
5	Watsco	11.81 Bn	11.35 Bn	578.93 Mn	11.32%
6	Applied Industrial Technologies	11.81 Bn	11.68 Bn	411.22 Mn	11.78%
7	Core & Main	8.30 Bn	8.15 Bn	520.00 Mn	9.27%
8	Pool	6.54 Bn	6.51 Bn	540.76 Mn	14.68%
9	Msc Industrial Direct	6.50 Bn	6.43 Bn	430.41 Mn	10.19%
10	Xometry	5.01 Bn	4.50 Bn	87.15 Mn	-2.42%

Historic Data

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