Revenue: As of FY2025, the actual value is USD 7.2 B.<h4>Segment Revenue by Product Line</h4><ul><li>HVAC Equipment Sales accounted for 67% of revenues in 2025 and 69% in 2024.</li><li>Other HVAC Products Sales comprised 29% of revenues in 2025 and 27% in 2024.</li><li>Commercial Refrigeration Products Sales accounted for 4% of revenues in both 2025 and 2024.</li></ul><h4>Segment Revenue by Geographic Market (2025)</h4><ul><li>The United States generated 90% of revenues.</li><li>Canada contributed 5% of revenues.</li><li>Latin America and the Caribbean accounted for 5% of revenues.</li></ul><h4>Operational Metrics</h4><ul><li>Total Revenues for 2025 were $7.2 billion.</li><li>Joint Ventures with Carrier represented 53% of total revenues in 2025.</li><li>Russell Sigler, Inc. (RSI) Sales in 2025 were approximately $1.2 billion.</li><li>As of December 31, 2025, Watsco, Inc. had approximately 7,050 total employees, consisting of 6,950 full-time and 100 part-time employees.</li><li>Approximately 8% of employees were located in Canada and Mexico.</li><li>The voluntary turnover rate for U.S. employees was 19% in 2025, 18% in 2024, and 19% in 2023.</li><li>Approximately 4,200 Watsco, Inc. employees are shareholders.</li></ul><h4>Outlook / Guidance</h4>Watsco, Inc. is transitioning its inventory to new lower-GWP HVAC systems (A2L Systems) and phasing out 410A Systems, anticipating regulatory changes restricting high-GWP refrigerants in new HVAC systems manufactured after December 31, 2024. The company continues to sell components of 410A Systems separately as permitted and awaits the EPA’s final rule change, expected in early 2026, regarding the installation deadline for matching 410A Systems. Watsco, Inc. expects these regulations to reduce the carbon footprint of end-users and increase average selling prices over time.

Watsco - B | 10-K: FY2025 Revenue: USD 7.2 B