Company / Gross Margin
Watsco Gross Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Gross Margin
28.1%
FY2025
5-year range
24.2% / 28.1%
FY2021-FY2025
Trend
+4.5%
vs FY2024
Sector context
#109 of 186
Industrials
What the data says
At 28.1%, Watsco's gross margin ranks #109 of 186 in the Industrials sector. Gross Margin has increased for 3 consecutive years, from 24.2% in FY2022 to 28.1% in FY2025.
Based on SEC 10-K filings.
28.1% in FY2025 with a 5-year CAGR of +3.4%.
Improved from 26.6% to 28.1% over the past 2 years.
Industrials sector context is included.
Gross Margin over time
Growth rates
- 3-Year Change
- +3.9pp
- 5-Year Change
- +3.4pp
- 10-Year Change
- -
Sector benchmark
#109 of 186 in IndustrialsTop 59% of 186This company 28.1% Sector average 28.8%
▼
-2.6% below sector average
Key checks
Key Insights
- Watsco's gross margin has grown for 3 consecutive years.
- In FY2025, gross margin increased 4.5% year-over-year.
- Currently 0.7pp below the Industrials sector average.
- Lowest gross margin in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 3.47 (safe zone, above 2.9 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Gross MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 28.1% | +4.5% |
| FY2024 | 26.8% | +1.1% |
| FY2023 | 26.6% | +9.8% |
| FY2022 | 24.2% | -0.2% |
| FY2021 | 24.3% | -1.6% |
| FY2020 | 24.6% | +0.4% |
| FY2019 | 24.5% | +0.1% |
| FY2018 | 24.5% | +0.1% |
| FY2017 | 24.5% | +1.0% |
| FY2016 | 24.3% | +1.0% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026