Watsco (WSO) Operating Margin (2009 - 2026)
Watsco (WSO) reported Operating Margin of 11.32% for Q2 2026, down 1.86 percentage points from 13.18% a year earlier but up 4.14 percentage points from the prior quarter.
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Analysis
Watsco (WSO) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Watsco's Operating Margin came in at 9.40%, down 0.86 percentage points year-over-year; for FY2025, it was 9.95%, down 0.31 percentage points from FY2024.
- Operating Margin has declined for three consecutive years, though with a five-year change of +2.02 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 10.26% in FY2024 (-0.65 pp), 10.91% in FY2023 (-0.52 pp), 11.43% in FY2022 (+1.42 pp) and 10.01% in FY2021 (+2.07 pp).
- Five-year quarterly Operating Margin spans a low of 6.43% in Q4 2025 and a high of 13.46% in Q2 2022.
- Year over year, Operating Margin has now declined in each of the last four quarters, with an average year-over-year change of -0.39 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q1 2022 (a gain of 4.02 percentage points); the low point was Q1 2024 (a drop of 2.54 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 7.19% (Q1 2026), 6.43% (Q4 2025) and 11.36% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | W.W. Grainger | 59.11 Bn | 57.09 Bn | 1.98 Bn | 16.07% |
| 2 | Fastenal | 57.94 Bn | 56.86 Bn | 1.06 Bn | 21.02% |
| 3 | Ferguson Enterprises | 44.13 Bn | 41.35 Bn | 2.32 Bn | 8.19% |
| 4 | Sunbelt Rentals Holdings | 30.69 Bn | 30.57 Bn | 1.25 Bn | 22.18% |
| 5 | Reliance | 20.00 Bn | 19.04 Bn | 1.30 Bn | 9.54% |
| 6 | Wesco International | 17.78 Bn | 15.09 Bn | 1.46 Bn | 5.73% |
| 7 | Applied Industrial Technologies | 12.42 Bn | 12.29 Bn | 411.22 Mn | 11.78% |
| 8 | Watsco | 11.14 Bn | 9.30 Bn | 578.93 Mn | 11.32% |
| 9 | Avantor | 10.34 Bn | 9.14 Bn | 537.00 Mn | 7.20% |
| 10 | Core & Main | 7.82 Bn | 7.12 Bn | 573.00 Mn | 10.58% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.32% |
| Mar 31, 2026 | 7.19% |
| Dec 31, 2025 | 6.43% |
| Sep 30, 2025 | 11.36% |
| Jun 30, 2025 | 13.18% |
| Mar 31, 2025 | 7.33% |
| Dec 31, 2024 | 7.76% |
| Sep 30, 2024 | 11.59% |
| Jun 30, 2024 | 12.56% |
| Mar 31, 2024 | 8.09% |
| Dec 31, 2023 | 6.72% |
| Sep 30, 2023 | 12.07% |
| Jun 30, 2023 | 13.26% |
| Mar 31, 2023 | 10.62% |
| Dec 31, 2022 | 8.68% |
| Sep 30, 2022 | 11.60% |
| Jun 30, 2022 | 13.46% |
| Mar 31, 2022 | 11.23% |
| Dec 31, 2021 | 8.14% |
| Sep 30, 2021 | 11.60% |
API Access
Watsco Operating Margin 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-margin&ticker=WSO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=WSO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();