← WATSCO INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $182.8m | $208.2m | $242.9m | $245.9m | $269.6m | $418.9m | $601.2m | $536.3m | $536.3m | $497.0m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $168.0m | $190.8m | $223.1m | $225.5m | $246.4m | $381.7m | $703.7m | $634.1m | $635.7m | $464.2m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $236.0m | $257.3m | $296.5m | $295.8m | $323.2m | $498.7m | $703.7m | $634.1m | $635.7m | $587.6m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $53.2m | $49.1m | $53.6m | $49.8m | $53.6m | $79.8m | $102.5m | $97.8m | $99.5m | $90.6m | |
| Depreciation, Depletion and Amortization | $20.1m | $22.0m | $22.1m | $24.5m | $25.9m | $28.1m | $31.7m | $35.1m | $40.8m | $43.8m | |
| Amortization of Intangible Assets | $5.2m | $5.3m | $5.3m | $5.7m | $5.9m | $5.6m | $4.7m | $4.3m | $5.4m | $5.3m | |
| Deferred Income Tax Expense (Benefit) | $2.7m | ($10.7m) | $8.3m | $1.3m | $40k | $5.9m | $13.5m | ($7.2m) | $229k | $18.4m | |
| Share-based Payment Arrangement, Noncash Expense | $12.3m | $13.3m | $15.5m | $17.0m | $22.1m | $25.4m | $28.8m | $30.0m | $35.0m | $35.3m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $4.7m | $3.8m | $1.5m | $2.3m | $1.1m | $87.1m | $2.8m | $39.7m | $3.7m | |
| Share-based Payment Arrangement, Expense | $12.3m | $13.3m | $15.5m | $17.0m | $22.1m | $25.4m | $28.8m | $30.0m | $35.0m | $35.3m | |
| Goodwill and Intangible Asset Impairment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment | $189k | ($115k) | ($27k) | $585k | ($17k) | ($350k) | $1.6m | $143k | ($536k) | ($407k) | |
| Income (Loss) from Equity Method Investments | — | $3.9m | $9.3m | $10.3m | $11.3m | $19.3m | $22.7m | $26.2m | $30.5m | $27.8m | |
| Income Tax Expense (Benefit) | $105.9m | $90.2m | $72.8m | $67.1m | $76.6m | $128.8m | $125.7m | $155.8m | $166.9m | $150.1m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $26.9m | $1.7m | $28.8m | ($8.5m) | $3.6m | $130.4m | $60.2m | $36.0m | $85.6m | ($83.4m) | |
| Increase (Decrease) in Inventories | $9.7m | $73.4m | $79.0m | $15.5m | ($139.9m) | $243.7m | $259.9m | ($64.6m) | $41.7m | ($12.0m) | |
| Increase (Decrease) in Accounts Payable | $39.8m | $100.0m | ($57.4m) | $12.7m | $33.9m | $182.8m | — | — | — | — | |
| Goodwill | $379.7m | $382.7m | $392.0m | $411.2m | $412.5m | $434.0m | $430.7m | $457.1m | $451.9m | $462.5m | |
| Proceeds from Stock Options Exercised | — | $3.9m | $5.0m | — | — | — | — | — | — | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | ($323k) | $358k | $157k | $352k | $418k | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $277.8m | $306.5m | $170.6m | $335.8m | $534.4m | $349.6m | $572.0m | $562.0m | $773.1m | $569.6m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $43.6m | $17.9m | $17.2m | $17.8m | $16.4m | $25.5m | $35.7m | $35.5m | $30.1m | $34.5m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | $5.6m | $59.7m | — | $129.5m | $47k | $3.8m | $5.2m | $19.2m | |
| Net Cash Provided by (Used in) Investing Activities | ($42.8m) | ($81.3m) | ($26.3m) | ($81.0m) | ($16.3m) | ($148.6m) | ($33.8m) | ($41.3m) | ($290.7m) | ($98.1m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Common Stock | $5.7m | $5.2m | $6.6m | $13.3m | $19.3m | $21.0m | $20.4m | $15.2m | — | $0 | |
| Payments of Ordinary Dividends, Common Stock | $127.6m | $164.1m | $209.2m | $241.4m | $265.7m | $294.5m | $332.4m | $382.6m | $423.5m | $473.8m | |
| Proceeds from Noncontrolling Interests | — | $12.7m | $752k | $988k | — | $0 | — | $570k | $0 | — | |
| Net Cash Provided by (Used in) Financing Activities | ($213.9m) | ($202.1m) | ($139.6m) | ($264.0m) | ($448.5m) | ($228.6m) | ($504.0m) | ($460.1m) | ($158.5m) | ($568.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($226k) | $1.4m | ($2.2m) | ($8.4m) | $71.6m | ($27.8m) | $29.2m | $62.6m | $316.2m | ($93.0m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | $147.5m | $210.1m | $526.3m | $433.3m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | — | $913k | $3.5m | $10.1m | $969k | $697k | |
| Income Taxes Paid, Net | $99.0m | $48.1m | $115.3m | $70.1m | $70.9m | $125.0m | $105.7m | $188.4m | $124.6m | $164.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.