How Watsco makes money

Period

FY2025

How does Watsco make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Watsco Inc. · FY2025 · year ended 2025-12-31

Revenue$7.2BGross profit$2.0B · 28%Cost of revenue$5.2B · 72%Operating income$720M · 10%Operating expenses$1.3B · 18%Other opex$1.3B · 18%Pre-tax income$647M · 9%Other expense$73M · 1%Net income$497M · 7%Income tax$150M · 2%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.