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Side-by-side financial comparison of Allegion (ALLE) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.5B vs $1.0B, roughly 1.5× Allegion). Allegion runs the higher net margin — 13.4% vs 6.1%, a 7.3% gap on every dollar of revenue. On growth, Allegion posted the faster year-over-year revenue change (9.7% vs 0.1%). Over the past eight quarters, Allegion's revenue compounded faster (3.5% CAGR vs -15.3%).
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories. The company sells its products and solutions to end-users in commercial, institutional, and residential facili...
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
ALLE vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.5B |
| Net Profit | $138.1M | $92.9M |
| Gross Margin | 44.0% | 27.9% |
| Operating Margin | 18.9% | 7.2% |
| Net Margin | 13.4% | 6.1% |
| Revenue YoY | 9.7% | 0.1% |
| Net Profit YoY | -6.8% | -1.7% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.0B | $1.5B | ||
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $941.9M | $1.5B | ||
| Q4 24 | $945.6M | $1.8B | ||
| Q3 24 | $967.1M | $2.2B | ||
| Q2 24 | $965.6M | $2.1B |
| Q1 26 | $138.1M | $92.9M | ||
| Q4 25 | $147.5M | $71.7M | ||
| Q3 25 | $188.4M | $161.6M | ||
| Q2 25 | $159.7M | $183.6M | ||
| Q1 25 | $148.2M | $80.1M | ||
| Q4 24 | $144.1M | $96.8M | ||
| Q3 24 | $174.2M | $171.0M | ||
| Q2 24 | $155.4M | $181.4M |
| Q1 26 | 44.0% | 27.9% | ||
| Q4 25 | 44.5% | 27.1% | ||
| Q3 25 | 45.8% | 27.5% | ||
| Q2 25 | 45.6% | 29.3% | ||
| Q1 25 | 44.9% | 28.1% | ||
| Q4 24 | 44.1% | 26.7% | ||
| Q3 24 | 44.7% | 26.2% | ||
| Q2 24 | 44.4% | 27.1% |
| Q1 26 | 18.9% | 7.2% | ||
| Q4 25 | 20.3% | 6.4% | ||
| Q3 25 | 21.8% | 11.4% | ||
| Q2 25 | 21.5% | 13.2% | ||
| Q1 25 | 20.9% | 7.3% | ||
| Q4 24 | 19.5% | 7.8% | ||
| Q3 24 | 22.2% | 11.6% | ||
| Q2 24 | 21.6% | 12.6% |
| Q1 26 | 13.4% | 6.1% | ||
| Q4 25 | 14.3% | 4.5% | ||
| Q3 25 | 17.6% | 7.8% | ||
| Q2 25 | 15.6% | 8.9% | ||
| Q1 25 | 15.7% | 5.2% | ||
| Q4 24 | 15.2% | 5.5% | ||
| Q3 24 | 18.0% | 7.9% | ||
| Q2 24 | 16.1% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $1.70 | $1.82 | ||
| Q3 25 | $2.18 | $3.98 | ||
| Q2 25 | $1.85 | $4.52 | ||
| Q1 25 | $1.71 | $1.93 | ||
| Q4 24 | $1.65 | $2.42 | ||
| Q3 24 | $1.99 | $4.22 | ||
| Q2 24 | $1.77 | $4.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $308.9M | $392.7M |
| Total DebtLower is stronger | $2.0B | — |
| Stockholders' EquityBook value | $2.1B | $3.2B |
| Total Assets | $5.3B | $4.6B |
| Debt / EquityLower = less leverage | 0.97× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $308.9M | $392.7M | ||
| Q4 25 | $356.2M | $733.3M | ||
| Q3 25 | $302.7M | $524.3M | ||
| Q2 25 | $656.8M | $293.0M | ||
| Q1 25 | $494.5M | $431.8M | ||
| Q4 24 | $503.8M | $781.9M | ||
| Q3 24 | $878.9M | $550.0M | ||
| Q2 24 | $747.5M | $424.9M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $361.6M | ||
| Q3 25 | $2.1B | $340.8M | ||
| Q2 25 | $2.1B | $338.7M | ||
| Q1 25 | $2.0B | $346.4M | ||
| Q4 24 | $2.0B | $337.2M | ||
| Q3 24 | $2.4B | $321.0M | ||
| Q2 24 | $2.4B | $307.1M |
| Q1 26 | $2.1B | $3.2B | ||
| Q4 25 | $2.1B | $2.8B | ||
| Q3 25 | $1.9B | $2.8B | ||
| Q2 25 | $1.8B | $2.8B | ||
| Q1 25 | $1.6B | $2.7B | ||
| Q4 24 | $1.5B | $2.7B | ||
| Q3 24 | $1.6B | $2.7B | ||
| Q2 24 | $1.4B | $2.6B |
| Q1 26 | $5.3B | $4.6B | ||
| Q4 25 | $5.2B | $4.4B | ||
| Q3 25 | $5.2B | $4.6B | ||
| Q2 25 | $4.9B | $4.7B | ||
| Q1 25 | $4.6B | $4.5B | ||
| Q4 24 | $4.5B | $4.5B | ||
| Q3 24 | $5.0B | $4.5B | ||
| Q2 24 | $4.8B | $4.4B |
| Q1 26 | 0.97× | — | ||
| Q4 25 | 0.96× | 0.13× | ||
| Q3 25 | 1.07× | 0.12× | ||
| Q2 25 | 1.16× | 0.12× | ||
| Q1 25 | 1.24× | 0.13× | ||
| Q4 24 | 1.33× | 0.13× | ||
| Q3 24 | 1.53× | 0.12× | ||
| Q2 24 | 1.69× | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $101.3M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | 0.73× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $101.3M | — | ||
| Q4 25 | $240.1M | $399.8M | ||
| Q3 25 | $229.5M | $354.9M | ||
| Q2 25 | $209.7M | $-7.4M | ||
| Q1 25 | $104.5M | $-177.6M | ||
| Q4 24 | $219.0M | $378.9M | ||
| Q3 24 | $231.9M | $232.8M | ||
| Q2 24 | $173.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $200.5M | $388.5M | ||
| Q3 25 | $209.8M | $346.1M | ||
| Q2 25 | $192.0M | $-14.3M | ||
| Q1 25 | $83.4M | $-185.2M | ||
| Q4 24 | $194.9M | $370.9M | ||
| Q3 24 | $212.0M | $223.0M | ||
| Q2 24 | $152.1M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 19.4% | 24.6% | ||
| Q3 25 | 19.6% | 16.7% | ||
| Q2 25 | 18.8% | -0.7% | ||
| Q1 25 | 8.9% | -12.1% | ||
| Q4 24 | 20.6% | 21.1% | ||
| Q3 24 | 21.9% | 10.3% | ||
| Q2 24 | 15.8% | 2.4% |
| Q1 26 | 2.0% | — | ||
| Q4 25 | 3.8% | 0.7% | ||
| Q3 25 | 1.8% | 0.4% | ||
| Q2 25 | 1.7% | 0.3% | ||
| Q1 25 | 2.2% | 0.5% | ||
| Q4 24 | 2.5% | 0.5% | ||
| Q3 24 | 2.1% | 0.5% | ||
| Q2 24 | 2.2% | 0.3% |
| Q1 26 | 0.73× | — | ||
| Q4 25 | 1.63× | 5.57× | ||
| Q3 25 | 1.22× | 2.20× | ||
| Q2 25 | 1.31× | -0.04× | ||
| Q1 25 | 0.71× | -2.22× | ||
| Q4 24 | 1.52× | 3.91× | ||
| Q3 24 | 1.33× | 1.36× | ||
| Q2 24 | 1.11× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALLE
| Allegion Americas | $809.9M | 78% |
| Allegion International | $223.7M | 22% |
WSO
Segment breakdown not available.
