vs
Side-by-side financial comparison of Brookfield Asset Management Ltd. (BAM) 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 $1.1B, roughly 1.4× Brookfield Asset Management Ltd.). Brookfield Asset Management Ltd. runs the higher net margin — 56.7% vs 6.1%, a 50.6% gap on every dollar of revenue.
Brookfield Asset Management Ltd. is a Canadian-American alternative asset manager. The company was founded in December 2022 as a spin-off of the asset management operations of Brookfield Corporation, and manages investments across real estate, infrastructure, renewable energy, private equity, and credit markets globally.
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.
BAM vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.5B |
| Net Profit | $615.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | 84.2% | 7.2% |
| Net Margin | 56.7% | 6.1% |
| Revenue YoY | — | 0.1% |
| Net Profit YoY | — | -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 | — | $1.5B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $974.0M | $2.1B | ||
| Q2 25 | $931.0M | $2.1B | ||
| Q1 25 | $954.0M | $1.5B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $873.0M | $2.2B | ||
| Q2 24 | $821.0M | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $615.0M | $71.7M | ||
| Q3 25 | $692.0M | $161.6M | ||
| Q2 25 | $584.0M | $183.6M | ||
| Q1 25 | $507.0M | $80.1M | ||
| Q4 24 | — | $96.8M | ||
| Q3 24 | $537.0M | $171.0M | ||
| Q2 24 | $124.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | — | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 84.2% | 6.4% | ||
| Q3 25 | 79.1% | 11.4% | ||
| Q2 25 | 70.8% | 13.2% | ||
| Q1 25 | 61.0% | 7.3% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | 72.5% | 11.6% | ||
| Q2 24 | 80.4% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 56.7% | 4.5% | ||
| Q3 25 | 71.0% | 7.8% | ||
| Q2 25 | 62.7% | 8.9% | ||
| Q1 25 | 53.1% | 5.2% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | 61.5% | 7.9% | ||
| Q2 24 | 15.1% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.82 | ||
| Q3 25 | — | $3.98 | ||
| Q2 25 | — | $4.52 | ||
| Q1 25 | — | $1.93 | ||
| Q4 24 | — | $2.42 | ||
| Q3 24 | — | $4.22 | ||
| Q2 24 | — | $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 | $1.6B | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.9B | $3.2B |
| Total Assets | $17.0B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $1.6B | $733.3M | ||
| Q3 25 | $1.1B | $524.3M | ||
| Q2 25 | $480.0M | $293.0M | ||
| Q1 25 | $332.0M | $431.8M | ||
| Q4 24 | — | $781.9M | ||
| Q3 24 | — | $550.0M | ||
| Q2 24 | $10.0M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $8.9B | $2.8B | ||
| Q3 25 | $8.5B | $2.8B | ||
| Q2 25 | $8.5B | $2.8B | ||
| Q1 25 | $8.5B | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $9.0B | $2.7B | ||
| Q2 24 | $3.2B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $17.0B | $4.4B | ||
| Q3 25 | $16.5B | $4.6B | ||
| Q2 25 | $16.1B | $4.7B | ||
| Q1 25 | $15.0B | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | $4.2B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 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 | $562.0M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.91× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $562.0M | $399.8M | ||
| Q3 25 | $745.0M | $354.9M | ||
| Q2 25 | $529.0M | $-7.4M | ||
| Q1 25 | $265.0M | $-177.6M | ||
| Q4 24 | — | $378.9M | ||
| Q3 24 | $567.0M | $232.8M | ||
| Q2 24 | $159.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $388.5M | ||
| Q3 25 | — | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | — | $223.0M | ||
| Q2 24 | — | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | — | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.91× | 5.57× | ||
| Q3 25 | 1.08× | 2.20× | ||
| Q2 25 | 0.91× | -0.04× | ||
| Q1 25 | 0.52× | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 1.06× | 1.36× | ||
| Q2 24 | 1.28× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAM
| Incentive Fees | $452.0M | 42% |
| Infrastruture | $332.0M | 31% |
| Private Equity | $174.0M | 16% |
| Renewable Power And Transition | $66.0M | 6% |
| Other | $47.0M | 4% |
| Management And Advisory Fees | $14.0M | 1% |
WSO
Segment breakdown not available.
