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Watsco Valuation Multiples
Discover revenue and EBITDA valuation multiples for Watsco and similar public comparables like Bollore, Jeronimo Martins, US Foods, Wesco and more.
Watsco Overview
About Watsco
Watsco is the largest HVAC and refrigeration products distributor in North America with approximately 13% market share. The company primarily operates in the United States (90% of revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada, Latin America, and the Caribbean. The company's customer base comprises more than 120,000 dealers and contractors serving the replacement and new-construction HVAC/R markets for residential and light-commercial applications. As much as 20% of residential HVAC units are distributed through Watsco in any given year. Revenue is approximately 75%-80% residential HVAC and 20%-25% commercial, with relatively small exposure to more complex “applied” solutions.
Founded
1956
HQ
Employees
7.3K
Website
Sectors
Financials (LTM)
EV
$17B
Watsco Financials
Watsco reported last 12-month revenue of $7B and EBITDA of $769M.
In the same LTM period, Watsco generated $2B in gross profit, $769M in EBITDA, and $469M in net income.
Revenue (LTM)
Watsco P&L
In the most recent fiscal year, Watsco reported revenue of $7B and EBITDA of $736M.
Watsco expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $7B | XXX | $7B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 28% | XXX | 28% | XXX | XXX | XXX |
| EBITDA | $769M | XXX | $736M | XXX | XXX | XXX |
| EBITDA Margin | 10% | XXX | 10% | XXX | XXX | XXX |
| EBIT Margin | 10% | XXX | 10% | XXX | XXX | XXX |
| Net Profit | $469M | XXX | $497M | XXX | XXX | XXX |
| Net Margin | 6% | XXX | 7% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Watsco Stock Performance
Watsco has current market cap of $18B, and enterprise value of $17B.
Market Cap Evolution
Watsco's stock price is $431.50.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $17B | $18B | -1.9% | XXX | XXX | XXX | $12.22 |
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Start Free TrialWatsco Valuation Multiples
Watsco trades at 2.4x EV/Revenue multiple, and 22.5x EV/EBITDA.
EV / Revenue (LTM)
Watsco Financial Valuation Multiples
As of April 30, 2026, Watsco has market cap of $18B and EV of $17B.
Equity research analysts estimate Watsco's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Watsco has a P/E ratio of 37.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $18B | XXX | $18B | XXX | XXX | XXX |
| EV (current) | $17B | XXX | $17B | XXX | XXX | XXX |
| EV/Revenue | 2.4x | XXX | 2.4x | XXX | XXX | XXX |
| EV/EBITDA | 22.5x | XXX | 23.5x | XXX | XXX | XXX |
| EV/EBIT | 23.8x | XXX | 25.0x | XXX | XXX | XXX |
| EV/Gross Profit | 8.4x | XXX | 8.5x | XXX | XXX | XXX |
| P/E | 37.4x | XXX | 35.3x | XXX | XXX | XXX |
| EV/FCF | 34.1x | XXX | 32.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Watsco Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Watsco Margins & Growth Rates
Watsco's revenue in the last 12 month grew by 4%.
Watsco's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.2M for the same period.
Watsco Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | (5%) | XXX | XXX | XXX |
| EBITDA Margin | 10% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Growth | 4% | XXX | (7%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 18% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Watsco Public Comps
See public comps and valuation multiples for other Wholesale Distribution comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Watsco | XXX | XXX | XXX | XXX | XXX | XXX |
| Bollore | XXX | XXX | XXX | XXX | XXX | XXX |
| Jeronimo Martins | XXX | XXX | XXX | XXX | XXX | XXX |
| US Foods | XXX | XXX | XXX | XXX | XXX | XXX |
| Wesco | XXX | XXX | XXX | XXX | XXX | XXX |
| QXO | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Watsco M&A Activity
Watsco acquired XXX companies to date.
Last acquisition by Watsco was on XXXXXXXX, XXXXX. Watsco acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Watsco
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialWatsco Investment Activity
Watsco invested in XXX companies to date.
Watsco made its latest investment on XXXXXXXX, XXXXX. Watsco invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Watsco
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Watsco
| When was Watsco founded? | Watsco was founded in 1956. |
| Where is Watsco headquartered? | Watsco is headquartered in United States. |
| How many employees does Watsco have? | As of today, Watsco has over 7K employees. |
| Who is the CEO of Watsco? | Watsco's CEO is Albert H. Nahmad. |
| Is Watsco publicly listed? | Yes, Watsco is a public company listed on NYSE. |
| What is the stock symbol of Watsco? | Watsco trades under WSO ticker. |
| When did Watsco go public? | Watsco went public in 1984. |
| Who are competitors of Watsco? | Watsco main competitors are Bollore, Jeronimo Martins, US Foods, Wesco. |
| What is the current market cap of Watsco? | Watsco's current market cap is $18B. |
| What is the current revenue of Watsco? | Watsco's last 12 months revenue is $7B. |
| What is the current revenue growth of Watsco? | Watsco revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Watsco? | Current revenue multiple of Watsco is 2.4x. |
| Is Watsco profitable? | Yes, Watsco is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Watsco? | Watsco's last 12 months EBITDA is $769M. |
| What is Watsco's EBITDA margin? | Watsco's last 12 months EBITDA margin is 10%. |
| What is the current EV/EBITDA multiple of Watsco? | Current EBITDA multiple of Watsco is 22.5x. |
| What is the current FCF of Watsco? | Watsco's last 12 months FCF is $507M. |
| What is Watsco's FCF margin? | Watsco's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of Watsco? | Current FCF multiple of Watsco is 34.1x. |
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