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Side-by-side financial comparison of Eastman Chemical Company (EMN) and WATSCO INC (WSO). Click either name above to swap in a different company.
Eastman Chemical Company is the larger business by last-quarter revenue ($2.0B vs $1.6B, roughly 1.2× WATSCO INC). Eastman Chemical Company runs the higher net margin — 5.3% vs 4.5%, a 0.8% gap on every dollar of revenue. On growth, WATSCO INC posted the faster year-over-year revenue change (-10.0% vs -13.8%). Over the past eight quarters, WATSCO INC's revenue compounded faster (0.4% CAGR vs -8.6%).
Eastman Chemical Company is an American chemical products manufacturer based in Kingsport, Tennessee. Founded in 1920, it was formerly a subsidiary of Kodak until 1994. The company is an independent global specialty materials company that produces a broad range of advanced materials, chemicals and fibers for everyday purposes. It operates 36 manufacturing sites worldwide and employs approximately 14,000 people. In 2023, Eastman had sales revenue of approximately $9.21 billion.
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.
EMN vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $1.6B |
| Net Profit | $105.0M | $71.7M |
| Gross Margin | 17.1% | 27.1% |
| Operating Margin | — | 6.4% |
| Net Margin | 5.3% | 4.5% |
| Revenue YoY | -13.8% | -10.0% |
| Net Profit YoY | -42.3% | -25.9% |
| EPS (diluted) | $0.93 | $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.
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.6B | ||
| Q3 25 | $2.2B | $2.1B | ||
| Q2 25 | $2.3B | $2.1B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.5B | $2.2B | ||
| Q2 24 | $2.4B | $2.1B |
| Q1 26 | $105.0M | — | ||
| Q4 25 | $105.0M | $71.7M | ||
| Q3 25 | $47.0M | $161.6M | ||
| Q2 25 | $140.0M | $183.6M | ||
| Q1 25 | $182.0M | $80.1M | ||
| Q4 24 | $330.0M | $96.8M | ||
| Q3 24 | $180.0M | $171.0M | ||
| Q2 24 | $230.0M | $181.4M |
| Q1 26 | 17.1% | — | ||
| Q4 25 | 17.1% | 27.1% | ||
| Q3 25 | 19.7% | 27.5% | ||
| Q2 25 | 22.1% | 29.3% | ||
| Q1 25 | 24.8% | 28.1% | ||
| Q4 24 | 24.7% | 26.7% | ||
| Q3 24 | 24.6% | 26.2% | ||
| Q2 24 | 25.3% | 27.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.6% | 6.4% | ||
| Q3 25 | 6.1% | 11.4% | ||
| Q2 25 | 7.4% | 13.2% | ||
| Q1 25 | 11.0% | 7.3% | ||
| Q4 24 | 13.2% | 7.8% | ||
| Q3 24 | 11.4% | 11.6% | ||
| Q2 24 | 12.1% | 12.6% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 5.3% | 4.5% | ||
| Q3 25 | 2.1% | 7.8% | ||
| Q2 25 | 6.1% | 8.9% | ||
| Q1 25 | 7.9% | 5.2% | ||
| Q4 24 | 14.7% | 5.5% | ||
| Q3 24 | 7.3% | 7.9% | ||
| Q2 24 | 9.7% | 8.5% |
| Q1 26 | $0.93 | — | ||
| Q4 25 | $0.93 | $1.82 | ||
| Q3 25 | $0.40 | $3.98 | ||
| Q2 25 | $1.20 | $4.52 | ||
| Q1 25 | $1.57 | $1.93 | ||
| Q4 24 | $2.81 | $2.42 | ||
| Q3 24 | $1.53 | $4.22 | ||
| Q2 24 | $1.94 | $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 | $566.0M | $733.3M |
| Total DebtLower is stronger | — | $361.6M |
| Stockholders' EquityBook value | $6.0B | $2.8B |
| Total Assets | $14.9B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $566.0M | — | ||
| Q4 25 | $566.0M | $733.3M | ||
| Q3 25 | — | $524.3M | ||
| Q2 25 | — | $293.0M | ||
| Q1 25 | — | $431.8M | ||
| Q4 24 | $837.0M | $781.9M | ||
| Q3 24 | — | $550.0M | ||
| Q2 24 | — | $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 | $6.0B | — | ||
| Q4 25 | $6.0B | $2.8B | ||
| Q3 25 | $5.8B | $2.8B | ||
| Q2 25 | $5.8B | $2.8B | ||
| Q1 25 | $5.9B | $2.7B | ||
| Q4 24 | $5.8B | $2.7B | ||
| Q3 24 | $5.7B | $2.7B | ||
| Q2 24 | $5.6B | $2.6B |
| Q1 26 | $14.9B | — | ||
| Q4 25 | $14.9B | $4.4B | ||
| Q3 25 | $15.0B | $4.6B | ||
| Q2 25 | $15.2B | $4.7B | ||
| Q1 25 | $15.0B | $4.5B | ||
| Q4 24 | $15.2B | $4.5B | ||
| Q3 24 | $15.1B | $4.5B | ||
| Q2 24 | $14.9B | $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 | — | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $502.0M | $399.8M | ||
| Q3 25 | $402.0M | $354.9M | ||
| Q2 25 | $233.0M | $-7.4M | ||
| Q1 25 | $-167.0M | $-177.6M | ||
| Q4 24 | $540.0M | $378.9M | ||
| Q3 24 | $396.0M | $232.8M | ||
| Q2 24 | $367.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $388.5M | ||
| Q3 25 | $265.0M | $346.1M | ||
| Q2 25 | $83.0M | $-14.3M | ||
| Q1 25 | $-314.0M | $-185.2M | ||
| Q4 24 | $361.0M | $370.9M | ||
| Q3 24 | $276.0M | $223.0M | ||
| Q2 24 | $252.0M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 19.8% | 24.6% | ||
| Q3 25 | 12.0% | 16.7% | ||
| Q2 25 | 3.6% | -0.7% | ||
| Q1 25 | -13.7% | -12.1% | ||
| Q4 24 | 16.1% | 21.1% | ||
| Q3 24 | 11.2% | 10.3% | ||
| Q2 24 | 10.7% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 5.7% | 0.7% | ||
| Q3 25 | 6.2% | 0.4% | ||
| Q2 25 | 6.6% | 0.3% | ||
| Q1 25 | 6.4% | 0.5% | ||
| Q4 24 | 8.0% | 0.5% | ||
| Q3 24 | 4.9% | 0.5% | ||
| Q2 24 | 4.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.78× | 5.57× | ||
| Q3 25 | 8.55× | 2.20× | ||
| Q2 25 | 1.66× | -0.04× | ||
| Q1 25 | -0.92× | -2.22× | ||
| Q4 24 | 1.64× | 3.91× | ||
| Q3 24 | 2.20× | 1.36× | ||
| Q2 24 | 1.60× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
