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Side-by-side financial comparison of BRINKS CO (BCO) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.6B vs $1.4B, roughly 1.1× BRINKS CO). WATSCO INC runs the higher net margin — 4.5% vs 3.9%, a 0.6% gap on every dollar of revenue. On growth, BRINKS CO posted the faster year-over-year revenue change (10.0% vs -10.0%). BRINKS CO produced more free cash flow last quarter ($435.5M vs $388.5M). Over the past eight quarters, BRINKS CO's revenue compounded faster (4.8% CAGR vs 0.4%).
The Brink's Company is an American cash handling company, headquartered in Richmond, Virginia. Its operations include cash-in-transit, ATM replenishment & maintenance, and cash management & payment services, such as vault outsourcing, money processing, intelligent safe services, and international transportation of valuables.
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.
BCO vs WSO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.6B |
| Net Profit | $53.9M | $71.7M |
| Gross Margin | — | 27.1% |
| Operating Margin | 8.0% | 6.4% |
| Net Margin | 3.9% | 4.5% |
| Revenue YoY | 10.0% | -10.0% |
| Net Profit YoY | 54.9% | -25.9% |
| EPS (diluted) | — | $1.82 |
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.
| Q2 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $1.6B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $2.1B |
| Q2 26 | $53.9M | — | ||
| Q4 25 | $68.1M | $71.7M | ||
| Q3 25 | $36.3M | $161.6M | ||
| Q2 25 | $43.7M | $183.6M | ||
| Q1 25 | $51.6M | $80.1M | ||
| Q4 24 | $38.5M | $96.8M | ||
| Q3 24 | $28.9M | $171.0M | ||
| Q2 24 | $46.2M | $181.4M |
| Q2 26 | — | — | ||
| Q4 25 | 27.7% | 27.1% | ||
| Q3 25 | 25.8% | 27.5% | ||
| Q2 25 | 24.9% | 29.3% | ||
| Q1 25 | 24.6% | 28.1% | ||
| Q4 24 | 26.1% | 26.7% | ||
| Q3 24 | 25.0% | 26.2% | ||
| Q2 24 | 25.2% | 27.1% |
| Q2 26 | 8.0% | — | ||
| Q4 25 | 13.1% | 6.4% | ||
| Q3 25 | 11.4% | 11.4% | ||
| Q2 25 | 10.3% | 13.2% | ||
| Q1 25 | 9.6% | 7.3% | ||
| Q4 24 | 8.3% | 7.8% | ||
| Q3 24 | 8.9% | 11.6% | ||
| Q2 24 | 9.3% | 12.6% |
| Q2 26 | 3.9% | — | ||
| Q4 25 | 4.9% | 4.5% | ||
| Q3 25 | 2.7% | 7.8% | ||
| Q2 25 | 3.4% | 8.9% | ||
| Q1 25 | 4.1% | 5.2% | ||
| Q4 24 | 3.0% | 5.5% | ||
| Q3 24 | 2.3% | 7.9% | ||
| Q2 24 | 3.7% | 8.5% |
| Q2 26 | — | — | ||
| Q4 25 | $1.62 | $1.82 | ||
| Q3 25 | $0.86 | $3.98 | ||
| Q2 25 | $1.03 | $4.52 | ||
| Q1 25 | $1.18 | $1.93 | ||
| Q4 24 | $0.87 | $2.42 | ||
| Q3 24 | $0.65 | $4.22 | ||
| Q2 24 | $1.02 | $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 | $1.7B | $733.3M |
| Total DebtLower is stronger | $4.1B | $361.6M |
| Stockholders' EquityBook value | $407.3M | $2.8B |
| Total Assets | $7.3B | $4.4B |
| Debt / EquityLower = less leverage | 9.95× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $733.3M | ||
| Q3 25 | $1.3B | $524.3M | ||
| Q2 25 | $1.4B | $293.0M | ||
| Q1 25 | $1.2B | $431.8M | ||
| Q4 24 | $1.4B | $781.9M | ||
| Q3 24 | $1.2B | $550.0M | ||
| Q2 24 | $1.2B | $424.9M |
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.0B | $361.6M | ||
| Q3 25 | $3.8B | $340.8M | ||
| Q2 25 | $3.9B | $338.7M | ||
| Q1 25 | $3.7B | $346.4M | ||
| Q4 24 | $3.7B | $337.2M | ||
| Q3 24 | $3.7B | $321.0M | ||
| Q2 24 | $3.6B | $307.1M |
| Q2 26 | $407.3M | — | ||
| Q4 25 | $277.7M | $2.8B | ||
| Q3 25 | $268.5M | $2.8B | ||
| Q2 25 | $254.6M | $2.8B | ||
| Q1 25 | $205.8M | $2.7B | ||
| Q4 24 | $184.9M | $2.7B | ||
| Q3 24 | $277.1M | $2.7B | ||
| Q2 24 | $320.5M | $2.6B |
| Q2 26 | $7.3B | — | ||
| Q4 25 | $7.3B | $4.4B | ||
| Q3 25 | $7.0B | $4.6B | ||
| Q2 25 | $7.1B | $4.7B | ||
| Q1 25 | $6.6B | $4.5B | ||
| Q4 24 | $6.6B | $4.5B | ||
| Q3 24 | $6.7B | $4.5B | ||
| Q2 24 | $6.6B | $4.4B |
| Q2 26 | 9.95× | — | ||
| Q4 25 | 14.31× | 0.13× | ||
| Q3 25 | 14.05× | 0.12× | ||
| Q2 25 | 15.48× | 0.12× | ||
| Q1 25 | 18.19× | 0.13× | ||
| Q4 24 | 20.26× | 0.13× | ||
| Q3 24 | 13.39× | 0.12× | ||
| Q2 24 | 11.26× | 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 | — | $399.8M |
| Free Cash FlowOCF − Capex | $435.5M | $388.5M |
| FCF MarginFCF / Revenue | 31.7% | 24.6% |
| Capex IntensityCapex / Revenue | 4.3% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | — | $399.8M | ||
| Q3 25 | $122.1M | $354.9M | ||
| Q2 25 | — | $-7.4M | ||
| Q1 25 | $-60.2M | $-177.6M | ||
| Q4 24 | $369.8M | $378.9M | ||
| Q3 24 | $58.4M | $232.8M | ||
| Q2 24 | $-66.1M | $57.7M |
| Q2 26 | $435.5M | — | ||
| Q4 25 | — | $388.5M | ||
| Q3 25 | $77.4M | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | $-119.1M | $-185.2M | ||
| Q4 24 | $307.2M | $370.9M | ||
| Q3 24 | $7.4M | $223.0M | ||
| Q2 24 | $-122.8M | $51.3M |
| Q2 26 | 31.7% | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | 5.8% | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | -9.6% | -12.1% | ||
| Q4 24 | 24.3% | 21.1% | ||
| Q3 24 | 0.6% | 10.3% | ||
| Q2 24 | -9.8% | 2.4% |
| Q2 26 | 4.3% | — | ||
| Q4 25 | 3.5% | 0.7% | ||
| Q3 25 | 3.3% | 0.4% | ||
| Q2 25 | 4.0% | 0.3% | ||
| Q1 25 | 4.7% | 0.5% | ||
| Q4 24 | 5.0% | 0.5% | ||
| Q3 24 | 4.1% | 0.5% | ||
| Q2 24 | 4.5% | 0.3% |
| Q2 26 | — | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | 3.36× | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | -1.17× | -2.22× | ||
| Q4 24 | 9.61× | 3.91× | ||
| Q3 24 | 2.02× | 1.36× | ||
| Q2 24 | -1.43× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCO
| North America | $418.0M | 30% |
| Europe | $319.0M | 23% |
| Latin America | $308.0M | 22% |
| Rest of World | $203.0M | 15% |
| Other | $127.0M | 9% |
WSO
Segment breakdown not available.
