| Company Name: | Watsco, Inc. | | Ticker Symbol: | WSO | | | WWW Address: | www.watsco.com | | CEO: | Albert H. Nahmad | | No. of Employees: | 3,100 | | Common Issue Type: | CS | | Business Description: | The Company is an independent distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the United States.
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| | | Industry Information: | WHOLESALE - Electronics Wholesale [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 51.44 |  0.38 | 50.45 | 52.5 | 51.33 | 51.67 | 50.99 | 112761 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 1,646.1 | 32.0 | 1.07 | 2.18 | 1.75 | 39.6 | 3.7 | 57.63 - 30.89 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 51.44 | $ | | PE Ratio - LTM | 39.6 | |
| Market Capitalisation | 1,434.1 | mil |
| Latest Shares Outstanding | 32.0 | mil |
| Earnings pS (EPS) | 2.18 | $ |
| Dividend pS (DPS) | 1.75 | ¢ |
| Dividend Yield | 3.7 | % |
| Dividend Payout Ratio | 80 | % |
| Revenue per Employee | 548,464 | $ |
| Effective Tax Rate | 37.5 | % |
| Float | 24.2 | mil |
| Float as % of Shares Outstanding | 84.7 | % |
| Foreign Sales | 0 | mil |
| Domestic Sales | 0 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 20.40 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 24.9 | % |
| EBITDA Margin | 4.5 | % |
| Pre-Tax Profit Margin | 3.9 | % |
| Assets Turnover | 1.7 | % |
| Return on Assets (ROA) | 3.1 | % |
| Return on Equity (ROE) | 5.3 | % |
| Return on Capital Invested (ROCI) | 5.0 | % |
| Current Ratio | 3.0 | |
| Leverage Ratio (Assets/Equity) | 1.7 | |
| Interest Cover | 31.3 | |
| Total Debt/Equity (Gearing Ratio) | 0.06 | |
| LT Debt/Total Capital | 5.0 | % |
| Working Capital pS | 18.05 | $ |
| Cash pS | 2.04 | $ |
| Book-Value pS | 23.29 | $ |
| Tangible Book-Value pS | 14.31 | $ |
| Cash Flow pS | 1.47 | $ |
| Free Cash Flow pS | 1.61 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 2.21 | |
| Price/Tangible Book Ratio | 3.60 | |
| Price/Cash Flow | 34.9 | |
| Price/Free Cash Flow | 32.0 | |
| P/E as % of Industry Group | 99.0 | % |
| P/E as % of Sector Segment | 0.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 10/01/2009 |
| Dividend Ex-Date | 10/12/2009 |
| Dividend Record Date | 10/14/2009 |
| Dividend Pay Date | 10/29/2009 |
| Dividend Amount | 480 |
| Type of Payment | Cash Payment |
| Dividend Rate | 1.92 |
| Current Dividend Yield | 3.7 |
| 5-Y Average Dividend Yield | 2.7 |
| Payout Ratio | 80.0 |
| 5-Y Average Payout Ratio | 43.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 0.6 | 99 | 1,595 | 5,200 |
| 4 Weeks | 53.49 | 50.07 | 51.22 | 0.4 | 94 | 1,694 | 30,484 |
| 13 Weeks | 57.63 | 50.07 | 53.23 | -3.4 | 90 | 1,838 | 113,972 |
| 26 Weeks | 57.63 | 43.47 | 49.23 | 4.5 | 86 | 2,473 | 311,575 |
| 52 Weeks | 57.63 | 30.89 | 39.34 | 30.8 | 106 | 3,041 | 760,365 |
| YTD | 57.63 | 30.89 | - | 34.0 | 109 | 3,006 | 685,300 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 51.30 | 51.78 | 52.60 | 51.24 | 47.07 | 1.07 | 0.98 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 5.00 | 53.6 | -1.15 |
| Income | -3.32 | 5.7 | -19.81 |
| Dividend | 38.60 | 95.9 | 25.15 |
| Capital Spending | -4.69 | NA | -46.64 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | -3.87 | NA | -21.07 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | 5.3 | 56.1 | -3.3 |
| Earnings % | -36.4 | -9.4 | -7.9 |
| EPS % | -41.3 | -21.4 | -7.6 |
| EPS $ | -0.85 | -0.18 | -0.18 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 48.72 |
| Current Ratio | 4.2 |
| Quick Ratio (Acid Test) | 1.8 |
| Liquidity Ratio (Cash) | 0.38 |
| Receivables Turnover | 10.3 |
| Average Collection Period | 35 |
| Working Capital/Equity | 61.1 |
| Working Capital pS | 12.32 |
| Cash-Flow pS | 2.38 |
| Free Cash-Flow pS | 2.13 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 9.57 |
| Financial Leverage Ratio (Assets/Equity) | 1.3 |
| Debt Ratio | 20.3 |
| Total Debt/Equity (Gearing Ratio) | 0.04 |
| LT Debt/Equity | 0.04 |
| LT Debt/Capital Invested | 6.4 |
| LT Debt/Total Liabilities | 13.8 |
| Interest Cover | 48.9 |
| Interest/Capital Invested | 0.33 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 5.12 |
| Tobin's Q Ratio | 2.00 |
| Current P/E Ratio - LTM | 39.60 |
| Enterprise Value (EV)/EBITDA | 14.55 |
| Enterprise Value (EV)/Free Cash Flow | 51.36 |
| Dividend Yield | 3.7 |
| Price/Tangible Book Ratio - LTM | 3.60 |
| Price/Book Ratio - LTM | 2.21 |
| Price/Cash Flow Ratio | 34.9 |
| Price/Free Cash Flow Ratio - LTM | 32.0 |
| Price/Sales Ratio | 0.93 |
| P/E Ratio (1 month ago) - LTM | 40.4 |
| P/E Ratio (26 weeks ago) - LTM | 26.5 |
| P/E Ratio (52 weeks ago) - LTM | 17.0 |
| 5-Y High P/E Ratio | 28.0 |
| 5-Y Low P/E Ratio | 12.3 |
| 5-Y Average P/E Ratio | 18.5 |
| Current P/E Ratio as % of 5-Y Average P/E | 214 |
| P/E as % of Industry Group | 99.0 |
| P/E as % of Sector Segment | 0.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 39.6 |
| PER SHARE FIGURES |
| LT Debt pS | 0.71 |
| Current Liabilities pS | 3.81 |
| Tangible Book Value pS - LTM | 14.31 |
| Book Value pS - LTM | 23.29 |
| Capital Invested pS | 18.43 |
| Cash pS - LTM | 2.04 |
| Cash Flow pS - LTM | 1.47 |
| Free Cash Flow pS - LTM | 1.61 |
| Earnings pS (EPS) | 2.18 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 3.54 |
| Free Cash Flow Margin 5YEAR AVG | 0.59 |
| Net Profit Margin | 3.6 |
| Net Profit Margin - 5YEAR AVRG. | 4.0 |
| Equity Productivity | 2.98 |
| Return on Equity (ROE) | 10.6 |
| Return on Equity (ROE) - 5YEAR AVRG. | 13.1 |
| Capital Invested Productivity | 2.88 |
| Return on Capital Invested (ROCI) | 10.2 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 12.2 |
| Assets Productivity | 2.30 |
| Return on Assets (ROA) | 8.4 |
| Return on Assets (ROA) - 5YEAR AVRG. | 9.4 |
| Gross Profit Margin | 24.9 |
| Gross Profit Margin - 5YEAR AVRG. | 26.0 |
| EBITDA Margin - LTM | 4.5 |
| EBIT Margin - LTM | 4.1 |
| Pre-Tax Profit Margin | 5.7 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 6.4 |
| Effective Tax Rate | 37.5 |
| Effective Tax Rate - 5YEAR AVRG. | 37.7 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 110 |
| Revenue per Employee | 548,464 |
| Net Income per Employee | 19,474 |
| Average Collection Period | 32 |
| Receivables Turnover | 10.3 |
| Day's Inventory Turnover Ratio | 78 |
| Inventory Turnover | 4.6 |
| Inventory/Sales | 14.8 |
| Accounts Payble/Sales | 3.76 |
| Assets/Revenue | 0.43 |
| Net Working Capital Turnover | 4.87 |
| Fixed Assets Turnover | 6.56 |
| Total Assets Turnover | 2.3 |
| Revenue per $ Cash | 41.02 |
| Revenue per $ Plant | 70.23 |
| Revenue per $ Common Equity | 2.98 |
| Revenue per $ Capital Invested | 2.88 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 20.2 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 19.0 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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