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Watsco Valuation Multiples

Discover revenue and EBITDA valuation multiples for Watsco and similar public comparables like Metcash, Ghitha Holding, and Acomo.

Watsco Overview

About Watsco

Watsco is the largest heating, ventilation, air conditioning, and refrigeration products distributor in North America. The company primarily operates in the United States (90% of revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada (5% of sales) and Latin America (5% of sales). The company's customer base consists of more than 125,000 contractors that serve the replacement and new construction HVACR markets for residential and light commercial applications.


Founded

1956

HQ

United States of America
Employees

7.3K+

Website

watsco.com

Financials

LTM Revenue $7.8B

LTM EBITDA $847M

EV

$20.4B

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Watsco Financials

Watsco has a last 12-month revenue of $7.8B and a last 12-month EBITDA of $847M.

In the most recent fiscal year, Watsco achieved revenue of $7.6B and an EBITDA of $792M.

Watsco expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Watsco P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $7.3B $7.6B XXX XXX XXX
Gross Profit $2.0B $2.0B XXX XXX XXX
Gross Margin 28% 26% XXX XXX XXX
EBITDA $830M $792M XXX XXX XXX
EBITDA Margin 11% 10% XXX XXX XXX
Net Profit $601M $536M XXX XXX XXX
Net Margin 8% 7% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Watsco Stock Performance

As of April 15, 2025, Watsco's stock price is $514.

Watsco has current market cap of $20.8B, and EV of $20.4B.

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Watsco Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$20.4B $20.8B XXX XXX XXX XXX $13.72

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Watsco Valuation Multiples

As of April 15, 2025, Watsco has market cap of $20.8B and EV of $20.4B.

Watsco's trades at 2.6x LTM EV/Revenue multiple, and 24.1x LTM EBITDA.

Analysts estimate Watsco's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Watsco Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $20.4B XXX XXX XXX
EV/Revenue 2.7x XXX XXX XXX
EV/EBITDA 25.8x XXX XXX XXX
P/E 38.7x XXX XXX XXX
P/E/Growth 5.3x XXX XXX XXX
EV/FCF 27.5x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Watsco Valuation Multiples

Watsco's NTM/LTM revenue growth is 6%

Watsco's revenue per employee for the last fiscal year averaged $1.0M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Watsco's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Watsco's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Watsco Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 5% XXX XXX XXX XXX
EBITDA Margin 10% XXX XXX XXX XXX
EBITDA Growth -5% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 16% XXX XXX XXX XXX
Revenue per Employee $1.0M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 17% XXX XXX XXX XXX

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Watsco Public Comps

See public comps and valuation multiples for Wholesale Distribution comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Ghitha Holding XXX XXX XXX XXX XXX XXX
Acomo XXX XXX XXX XXX XXX XXX
Sligro Food Group XXX XXX XXX XXX XXX XXX
Metcash XXX XXX XXX XXX XXX XXX
Reece XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Watsco M&A and Investment Activity

Watsco acquired  XXX companies to date.

Last acquisition by Watsco was  XXXXXXXX, XXXXX XXXXX XXXXXX . Watsco acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Watsco

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Watsco

When was Watsco founded? Watsco was founded in 1956.
Where is Watsco headquartered? Watsco is headquartered in United States of America.
How many employees does Watsco have? As of today, Watsco has 7.3K+ employees.
Who is the CEO of Watsco? Watsco's CEO is Mr. Albert H. Nahmad.
Is Watsco publicy listed? Yes, Watsco is a public company listed on NYS.
What is the stock symbol of Watsco? Watsco trades under WSO ticker.
When did Watsco go public? Watsco went public in 1994.
Who are competitors of Watsco? Similar companies to Watsco include e.g. Ghitha Holding, Acomo, Sligro Food Group, Metcash.
What is the current market cap of Watsco? Watsco's current market cap is $20.8B
What is the current revenue of Watsco? Watsco's last 12-month revenue is $7.8B.
What is the current EBITDA of Watsco? Watsco's last 12-month EBITDA is $847M.
What is the current EV/Revenue multiple of Watsco? Current revenue multiple of Watsco is 2.6x.
What is the current EV/EBITDA multiple of Watsco? Current EBITDA multiple of Watsco is 24.1x.
What is the current revenue growth of Watsco? Watsco revenue growth between 2023 and 2024 was 5%.
Is Watsco profitable? Yes, Watsco is EBITDA-positive (as of the last 12 months).

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