$WSO
WATSCO INC

2020 Q4 Form 10-K Financial Statement

#000119312521060167 Filed on February 26, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $1.155B $1.537B $1.355B
YoY Change 7.68% 10.16% -1.2%
Cost Of Revenue $872.5M $1.163B $1.036B
YoY Change 7.48% 9.69% -0.74%
Gross Profit $282.2M $373.8M $319.2M
YoY Change 8.33% 11.68% -2.68%
Gross Profit Margin 24.44% 24.33% 23.55%
Selling, General & Admin $214.6M $221.0M $194.1M
YoY Change 1.8% 3.8% -1.22%
% of Gross Profit 76.05% 59.12% 60.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.500M $6.500M $6.400M
YoY Change 0.0% 3.17% 8.47%
% of Gross Profit 2.3% 1.74% 2.01%
Operating Expenses $214.6M $221.1M $194.0M
YoY Change 1.8% 3.85% -1.32%
Operating Profit $67.60M $152.7M $125.2M
YoY Change 36.02% 25.37% -4.72%
Interest Expense $2.000M $4.000M $3.800M
YoY Change 17.65% 90.48% 111.11%
% of Operating Profit 2.96% 2.62% 3.04%
Other Income/Expense, Net
YoY Change
Pretax Income $69.70M $156.7M $129.0M
YoY Change 35.6% 26.47% -3.15%
Income Tax $13.20M $30.50M $24.70M
% Of Pretax Income 18.94% 19.46% 19.15%
Net Earnings $46.00M $106.5M $86.60M
YoY Change 23.32% 27.54% -3.99%
Net Earnings / Revenue 3.98% 6.93% 6.39%
Basic Earnings Per Share $1.14 $2.77 $2.26
Diluted Earnings Per Share $1.14 $2.76 $2.26
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $146.1M $92.60M $79.60M
YoY Change 96.11% 53.82% 42.4%
Cash & Equivalents $146.1M $92.60M $79.60M
Short-Term Investments
Other Short-Term Assets $21.80M $22.70M $21.00M
YoY Change 23.16% 17.01% 28.05%
Inventory $781.3M $884.7M $854.4M
Prepaid Expenses
Receivables $535.3M $644.1M $676.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.484B $1.644B $1.632B
YoY Change -4.03% -2.76% -3.75%
LONG-TERM ASSETS
Property, Plant & Equipment $307.4M $316.5M $323.7M
YoY Change -4.5% -2.1% 13.14%
Goodwill $412.5M
YoY Change
Intangibles
YoY Change
Long-Term Investments $97.80M $103.4M $100.0M
YoY Change 3.16%
Other Assets $12.20M $9.300M $9.200M
YoY Change 28.42% -90.76% -90.56%
Total Long-Term Assets $999.9M $1.004B $1.005B
YoY Change -0.95% 0.13% 7.24%
TOTAL ASSETS
Total Short-Term Assets $1.484B $1.644B $1.632B
Total Long-Term Assets $999.9M $1.004B $1.005B
Total Assets $2.484B $2.648B $2.637B
YoY Change -2.81% -1.69% 0.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $251.6M $352.7M $377.4M
YoY Change 4.96% 13.3% 5.98%
Accrued Expenses $234.0M $185.6M $191.6M
YoY Change 6.46% -19.13% -13.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.600M $71.20M $69.80M
YoY Change 33.33% 5833.33% 6245.45%
Total Short-Term Liabilities $487.1M $609.5M $638.9M
YoY Change 5.5% 12.39% 10.06%
LONG-TERM LIABILITIES
Long-Term Debt $4.800M $4.200M $35.70M
YoY Change -96.96% -97.55% -83.87%
Other Long-Term Liabilities $139.5M $149.1M $157.2M
YoY Change -9.59% -5.33% 21.3%
Total Long-Term Liabilities $144.3M $153.3M $192.9M
YoY Change -53.75% -53.36% -45.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $487.1M $609.5M $638.9M
Total Long-Term Liabilities $144.3M $153.3M $192.9M
Total Liabilities $997.7M $1.158B $1.200B
YoY Change -10.98% -7.35% -6.04%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.487B $1.490B $1.437B
YoY Change
Total Liabilities & Shareholders Equity $2.484B $2.648B $2.637B
YoY Change -2.81% -1.69% 0.16%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $46.00M $106.5M $86.60M
YoY Change 23.32% 27.54% -3.99%
Depreciation, Depletion And Amortization $6.500M $6.500M $6.400M
YoY Change 0.0% 3.17% 8.47%
Cash From Operating Activities $161.6M $111.5M $219.4M
YoY Change 16.85% -13.63% 1315.48%
INVESTING ACTIVITIES
Capital Expenditures -$4.800M -$3.600M -$4.100M
YoY Change 26.32% -25.0% -19.61%
Acquisitions
YoY Change
Other Investing Activities $0.00 $100.0K $0.00
YoY Change -100.0% -100.34% -100.0%
Cash From Investing Activities -$4.800M -$3.500M -$4.200M
YoY Change -70.0% -89.77% -84.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -105.7M -95.50M -187.9M
YoY Change -2.4% 5.64% 1706.73%
NET CHANGE
Cash From Operating Activities 161.6M 111.5M 219.4M
Cash From Investing Activities -4.800M -3.500M -4.200M
Cash From Financing Activities -105.7M -95.50M -187.9M
Net Change In Cash 51.10M 12.50M 27.30M
YoY Change 265.0% 177.78% -226.39%
FREE CASH FLOW
Cash From Operating Activities $161.6M $111.5M $219.4M
Capital Expenditures -$4.800M -$3.600M -$4.100M
Free Cash Flow $166.4M $115.1M $223.5M
YoY Change 17.1% -14.04% 984.95%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020 us-gaap Revenues
Revenues
5054928000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2019 us-gaap Net Income Loss
NetIncomeLoss
245950000
CY2020 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
FL
CY2020 dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
62548000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
62147000
CY2020Q1 us-gaap Revenues
Revenues
1008156000
CY2020Q2 us-gaap Revenues
Revenues
1355385000
CY2020Q3 us-gaap Revenues
Revenues
1536671000
CY2020Q4 us-gaap Revenues
Revenues
1154716000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.26
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.77
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.03
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.26
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.76
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.01
CY2019Q1 us-gaap Revenues
Revenues
931278000
CY2019Q2 us-gaap Revenues
Revenues
1371854000
CY2019Q3 us-gaap Revenues
Revenues
1394915000
CY2019Q4 us-gaap Revenues
Revenues
1072315000
CY2019 us-gaap Revenues
Revenues
4770362000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.40
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.20
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.92
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.51
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.40
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.20
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.92
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.50

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