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Side-by-side financial comparison of Element Solutions Inc (ESI) 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 $840.0M, roughly 1.9× Element Solutions Inc). Element Solutions Inc runs the higher net margin — 6.7% vs 4.5%, a 2.1% gap on every dollar of revenue. On growth, Element Solutions Inc posted the faster year-over-year revenue change (41.0% vs -10.0%). WATSCO INC produced more free cash flow last quarter ($388.5M vs $-74.2M). Over the past eight quarters, Element Solutions Inc's revenue compounded faster (17.1% CAGR vs 0.4%).
Element Solutions Inc is an American specialty chemicals production corporation listed on the New York Stock Exchange.
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.
ESI vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $840.0M | $1.6B |
| Net Profit | $56.0M | $71.7M |
| Gross Margin | 38.4% | 27.1% |
| Operating Margin | 13.3% | 6.4% |
| Net Margin | 6.7% | 4.5% |
| Revenue YoY | 41.0% | -10.0% |
| Net Profit YoY | -42.9% | -25.9% |
| EPS (diluted) | $0.23 | $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 | $840.0M | — | ||
| Q4 25 | $676.2M | $1.6B | ||
| Q3 25 | $656.1M | $2.1B | ||
| Q2 25 | $625.2M | $2.1B | ||
| Q1 25 | $593.7M | $1.5B | ||
| Q4 24 | $624.2M | $1.8B | ||
| Q3 24 | $645.0M | $2.2B | ||
| Q2 24 | $612.7M | $2.1B |
| Q1 26 | $56.0M | — | ||
| Q4 25 | $6.2M | $71.7M | ||
| Q3 25 | $39.3M | $161.6M | ||
| Q2 25 | $47.4M | $183.6M | ||
| Q1 25 | $98.0M | $80.1M | ||
| Q4 24 | $54.7M | $96.8M | ||
| Q3 24 | $40.3M | $171.0M | ||
| Q2 24 | $93.2M | $181.4M |
| Q1 26 | 38.4% | — | ||
| Q4 25 | 40.9% | 27.1% | ||
| Q3 25 | 42.2% | 27.5% | ||
| Q2 25 | 42.6% | 29.3% | ||
| Q1 25 | 42.2% | 28.1% | ||
| Q4 24 | 41.0% | 26.7% | ||
| Q3 24 | 41.5% | 26.2% | ||
| Q2 24 | 43.6% | 27.1% |
| Q1 26 | 13.3% | — | ||
| Q4 25 | 10.3% | 6.4% | ||
| Q3 25 | 15.4% | 11.4% | ||
| Q2 25 | 15.1% | 13.2% | ||
| Q1 25 | 13.0% | 7.3% | ||
| Q4 24 | 12.0% | 7.8% | ||
| Q3 24 | 14.7% | 11.6% | ||
| Q2 24 | 15.7% | 12.6% |
| Q1 26 | 6.7% | — | ||
| Q4 25 | 0.9% | 4.5% | ||
| Q3 25 | 6.0% | 7.8% | ||
| Q2 25 | 7.6% | 8.9% | ||
| Q1 25 | 16.5% | 5.2% | ||
| Q4 24 | 8.8% | 5.5% | ||
| Q3 24 | 6.2% | 7.9% | ||
| Q2 24 | 15.2% | 8.5% |
| Q1 26 | $0.23 | — | ||
| Q4 25 | $0.03 | $1.82 | ||
| Q3 25 | $0.16 | $3.98 | ||
| Q2 25 | $0.20 | $4.52 | ||
| Q1 25 | $0.40 | $1.93 | ||
| Q4 24 | $0.22 | $2.42 | ||
| Q3 24 | $0.17 | $4.22 | ||
| Q2 24 | $0.39 | $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 | $177.3M | $733.3M |
| Total DebtLower is stronger | — | $361.6M |
| Stockholders' EquityBook value | $2.7B | $2.8B |
| Total Assets | $5.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $177.3M | — | ||
| Q4 25 | $626.5M | $733.3M | ||
| Q3 25 | $594.3M | $524.3M | ||
| Q2 25 | $529.9M | $293.0M | ||
| Q1 25 | $499.2M | $431.8M | ||
| Q4 24 | $359.4M | $781.9M | ||
| Q3 24 | $376.0M | $550.0M | ||
| Q2 24 | $309.3M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $361.6M | ||
| Q3 25 | $1.6B | $340.8M | ||
| Q2 25 | $1.6B | $338.7M | ||
| Q1 25 | $1.6B | $346.4M | ||
| Q4 24 | $1.8B | $337.2M | ||
| Q3 24 | $1.9B | $321.0M | ||
| Q2 24 | $1.9B | $307.1M |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.7B | $2.8B | ||
| Q2 25 | $2.6B | $2.8B | ||
| Q1 25 | $2.5B | $2.7B | ||
| Q4 24 | $2.4B | $2.7B | ||
| Q3 24 | $2.4B | $2.7B | ||
| Q2 24 | $2.4B | $2.6B |
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.1B | $4.4B | ||
| Q3 25 | $5.0B | $4.6B | ||
| Q2 25 | $5.0B | $4.7B | ||
| Q1 25 | $4.8B | $4.5B | ||
| Q4 24 | $4.9B | $4.5B | ||
| Q3 24 | $5.1B | $4.5B | ||
| Q2 24 | $5.0B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | 0.13× | ||
| Q3 25 | 0.61× | 0.12× | ||
| Q2 25 | 0.62× | 0.12× | ||
| Q1 25 | 0.64× | 0.13× | ||
| Q4 24 | 0.76× | 0.13× | ||
| Q3 24 | 0.78× | 0.12× | ||
| Q2 24 | 0.81× | 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 | $-74.2M | $388.5M |
| FCF MarginFCF / Revenue | -8.8% | 24.6% |
| Capex IntensityCapex / Revenue | 3.0% | 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 | — | $399.8M | ||
| Q3 25 | $100.1M | $354.9M | ||
| Q2 25 | — | $-7.4M | ||
| Q1 25 | $26.0M | $-177.6M | ||
| Q4 24 | — | $378.9M | ||
| Q3 24 | $98.5M | $232.8M | ||
| Q2 24 | — | $57.7M |
| Q1 26 | $-74.2M | — | ||
| Q4 25 | — | $388.5M | ||
| Q3 25 | $83.6M | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | $15.0M | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | $85.9M | $223.0M | ||
| Q2 24 | — | $51.3M |
| Q1 26 | -8.8% | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | 12.7% | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | 2.5% | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | 13.3% | 10.3% | ||
| Q2 24 | — | 2.4% |
| Q1 26 | 3.0% | — | ||
| Q4 25 | 2.5% | 0.7% | ||
| Q3 25 | 2.5% | 0.4% | ||
| Q2 25 | 2.8% | 0.3% | ||
| Q1 25 | 1.9% | 0.5% | ||
| Q4 24 | 3.6% | 0.5% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 2.4% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | 2.55× | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | 0.27× | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 2.44× | 1.36× | ||
| Q2 24 | — | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
WSO
Segment breakdown not available.
