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Side-by-side financial comparison of F&G Annuities & Life, Inc. (FG) and WATSCO INC (WSO). Click either name above to swap in a different company.
F&G Annuities & Life, Inc. is the larger business by last-quarter revenue ($1.8B vs $1.5B, roughly 1.2× WATSCO INC). F&G Annuities & Life, Inc. runs the higher net margin — 7.3% vs 6.1%, a 1.2% gap on every dollar of revenue. On growth, F&G Annuities & Life, Inc. posted the faster year-over-year revenue change (13.2% vs 0.1%). Over the past eight quarters, F&G Annuities & Life, Inc.'s revenue compounded faster (6.1% CAGR vs -15.3%).
F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.
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.
FG vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $1.5B |
| Net Profit | $128.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | — | 7.2% |
| Net Margin | 7.3% | 6.1% |
| Revenue YoY | 13.2% | 0.1% |
| Net Profit YoY | -60.9% | -1.7% |
| EPS (diluted) | $0.97 | — |
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 | $1.8B | $1.6B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $908.0M | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $128.0M | $71.7M | ||
| Q3 25 | $118.0M | $161.6M | ||
| Q2 25 | $40.0M | $183.6M | ||
| Q1 25 | $-21.0M | $80.1M | ||
| Q4 24 | $327.0M | $96.8M | ||
| Q3 24 | $-6.0M | $171.0M | ||
| Q2 24 | $203.0M | $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 | — | 6.4% | ||
| Q3 25 | — | 11.4% | ||
| Q2 25 | — | 13.2% | ||
| Q1 25 | — | 7.3% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 7.3% | 4.5% | ||
| Q3 25 | 7.0% | 7.8% | ||
| Q2 25 | 2.9% | 8.9% | ||
| Q1 25 | -2.3% | 5.2% | ||
| Q4 24 | 21.0% | 5.5% | ||
| Q3 24 | -0.4% | 7.9% | ||
| Q2 24 | 17.3% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.97 | $1.82 | ||
| Q3 25 | $0.85 | $3.98 | ||
| Q2 25 | $0.26 | $4.52 | ||
| Q1 25 | $-0.20 | $1.93 | ||
| Q4 24 | $2.53 | $2.42 | ||
| Q3 24 | $-0.08 | $4.22 | ||
| Q2 24 | $1.55 | $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 | $1.5B | $392.7M |
| Total DebtLower is stronger | $2.2B | — |
| Stockholders' EquityBook value | $4.8B | $3.2B |
| Total Assets | $98.4B | $4.6B |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $1.5B | $733.3M | ||
| Q3 25 | $2.2B | $524.3M | ||
| Q2 25 | $1.9B | $293.0M | ||
| Q1 25 | $3.3B | $431.8M | ||
| Q4 24 | $2.3B | $781.9M | ||
| Q3 24 | $3.5B | $550.0M | ||
| Q2 24 | $3.5B | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $361.6M | ||
| Q3 25 | $2.2B | $340.8M | ||
| Q2 25 | $2.2B | $338.7M | ||
| Q1 25 | $2.2B | $346.4M | ||
| Q4 24 | $2.2B | $337.2M | ||
| Q3 24 | $2.0B | $321.0M | ||
| Q2 24 | $2.0B | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $4.8B | $2.8B | ||
| Q3 25 | $4.8B | $2.8B | ||
| Q2 25 | $4.4B | $2.8B | ||
| Q1 25 | $4.4B | $2.7B | ||
| Q4 24 | $4.0B | $2.7B | ||
| Q3 24 | $4.3B | $2.7B | ||
| Q2 24 | $3.7B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $98.4B | $4.4B | ||
| Q3 25 | $96.1B | $4.6B | ||
| Q2 25 | $91.8B | $4.7B | ||
| Q1 25 | $88.0B | $4.5B | ||
| Q4 24 | $85.0B | $4.5B | ||
| Q3 24 | $84.1B | $4.5B | ||
| Q2 24 | $78.5B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 0.47× | 0.13× | ||
| Q3 25 | 0.46× | 0.12× | ||
| Q2 25 | 0.50× | 0.12× | ||
| Q1 25 | 0.51× | 0.13× | ||
| Q4 24 | 0.55× | 0.13× | ||
| Q3 24 | 0.47× | 0.12× | ||
| Q2 24 | 0.56× | 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 | $1.2B | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 9.13× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $399.8M | ||
| Q3 25 | $937.0M | $354.9M | ||
| Q2 25 | $1.6B | $-7.4M | ||
| Q1 25 | $956.0M | $-177.6M | ||
| Q4 24 | $1.3B | $378.9M | ||
| Q3 24 | $2.1B | $232.8M | ||
| Q2 24 | $1.1B | $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 | 9.13× | 5.57× | ||
| Q3 25 | 7.94× | 2.20× | ||
| Q2 25 | 40.50× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | 4.04× | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | 5.20× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
