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Side-by-side financial comparison of Fidelity National Information Services (FIS) and WATSCO INC (WSO). Click either name above to swap in a different company.
Fidelity National Information Services is the larger business by last-quarter revenue ($2.8B vs $1.5B, roughly 1.8× WATSCO INC). Fidelity National Information Services runs the higher net margin — 18.2% vs 6.1%, a 12.1% gap on every dollar of revenue. On growth, Fidelity National Information Services posted the faster year-over-year revenue change (8.1% vs 0.1%). Over the past eight quarters, Fidelity National Information Services's revenue compounded faster (6.8% CAGR vs -15.3%).
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech. Annually, FIS facilitates the movement of roughly US$9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
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.
FIS vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.8B | $1.5B |
| Net Profit | $511.0M | $92.9M |
| Gross Margin | 38.3% | 27.9% |
| Operating Margin | 18.8% | 7.2% |
| Net Margin | 18.2% | 6.1% |
| Revenue YoY | 8.1% | 0.1% |
| Net Profit YoY | 97.3% | -1.7% |
| EPS (diluted) | $0.98 | — |
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 | $2.8B | $1.6B | ||
| Q3 25 | $2.7B | $2.1B | ||
| Q2 25 | $2.6B | $2.1B | ||
| Q1 25 | $2.5B | $1.5B | ||
| Q4 24 | $2.6B | $1.8B | ||
| Q3 24 | $2.6B | $2.2B | ||
| Q2 24 | $2.5B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $511.0M | $71.7M | ||
| Q3 25 | $264.0M | $161.6M | ||
| Q2 25 | $-470.0M | $183.6M | ||
| Q1 25 | $77.0M | $80.1M | ||
| Q4 24 | $259.0M | $96.8M | ||
| Q3 24 | $224.0M | $171.0M | ||
| Q2 24 | $243.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | 38.3% | 27.1% | ||
| Q3 25 | 37.8% | 27.5% | ||
| Q2 25 | 36.4% | 29.3% | ||
| Q1 25 | 34.7% | 28.1% | ||
| Q4 24 | 36.9% | 26.7% | ||
| Q3 24 | 38.0% | 26.2% | ||
| Q2 24 | 38.2% | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 18.8% | 6.4% | ||
| Q3 25 | 16.8% | 11.4% | ||
| Q2 25 | 15.6% | 13.2% | ||
| Q1 25 | 13.7% | 7.3% | ||
| Q4 24 | 18.5% | 7.8% | ||
| Q3 24 | 19.1% | 11.6% | ||
| Q2 24 | 15.2% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 18.2% | 4.5% | ||
| Q3 25 | 9.7% | 7.8% | ||
| Q2 25 | -18.0% | 8.9% | ||
| Q1 25 | 3.0% | 5.2% | ||
| Q4 24 | 10.0% | 5.5% | ||
| Q3 24 | 8.7% | 7.9% | ||
| Q2 24 | 9.8% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.98 | $1.82 | ||
| Q3 25 | $0.50 | $3.98 | ||
| Q2 25 | $-0.90 | $4.52 | ||
| Q1 25 | $0.15 | $1.93 | ||
| Q4 24 | $0.51 | $2.42 | ||
| Q3 24 | $0.41 | $4.22 | ||
| Q2 24 | $0.44 | $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 | $599.0M | $392.7M |
| Total DebtLower is stronger | $9.1B | — |
| Stockholders' EquityBook value | $13.9B | $3.2B |
| Total Assets | $33.5B | $4.6B |
| Debt / EquityLower = less leverage | 0.65× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $599.0M | $733.3M | ||
| Q3 25 | $571.0M | $524.3M | ||
| Q2 25 | $581.0M | $293.0M | ||
| Q1 25 | $805.0M | $431.8M | ||
| Q4 24 | $834.0M | $781.9M | ||
| Q3 24 | $1.3B | $550.0M | ||
| Q2 24 | $2.1B | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $9.1B | $361.6M | ||
| Q3 25 | $8.9B | $340.8M | ||
| Q2 25 | $8.9B | $338.7M | ||
| Q1 25 | $8.7B | $346.4M | ||
| Q4 24 | $9.7B | $337.2M | ||
| Q3 24 | $10.5B | $321.0M | ||
| Q2 24 | $10.6B | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $13.9B | $2.8B | ||
| Q3 25 | $13.9B | $2.8B | ||
| Q2 25 | $14.2B | $2.8B | ||
| Q1 25 | $15.1B | $2.7B | ||
| Q4 24 | $15.7B | $2.7B | ||
| Q3 24 | $16.6B | $2.7B | ||
| Q2 24 | $17.0B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $33.5B | $4.4B | ||
| Q3 25 | $33.0B | $4.6B | ||
| Q2 25 | $33.4B | $4.7B | ||
| Q1 25 | $32.8B | $4.5B | ||
| Q4 24 | $33.8B | $4.5B | ||
| Q3 24 | $34.3B | $4.5B | ||
| Q2 24 | $34.6B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 0.65× | 0.13× | ||
| Q3 25 | 0.64× | 0.12× | ||
| Q2 25 | 0.63× | 0.12× | ||
| Q1 25 | 0.57× | 0.13× | ||
| Q4 24 | 0.62× | 0.13× | ||
| Q3 24 | 0.63× | 0.12× | ||
| Q2 24 | 0.62× | 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 | $758.0M | — |
| Free Cash FlowOCF − Capex | $739.0M | — |
| FCF MarginFCF / Revenue | 26.3% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 1.48× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $758.0M | $399.8M | ||
| Q3 25 | $1.0B | $354.9M | ||
| Q2 25 | $382.0M | $-7.4M | ||
| Q1 25 | $457.0M | $-177.6M | ||
| Q4 24 | $782.0M | $378.9M | ||
| Q3 24 | $641.0M | $232.8M | ||
| Q2 24 | $546.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $739.0M | $388.5M | ||
| Q3 25 | $952.0M | $346.1M | ||
| Q2 25 | $343.0M | $-14.3M | ||
| Q1 25 | $420.0M | $-185.2M | ||
| Q4 24 | $764.0M | $370.9M | ||
| Q3 24 | $605.0M | $223.0M | ||
| Q2 24 | $530.0M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 26.3% | 24.6% | ||
| Q3 25 | 35.0% | 16.7% | ||
| Q2 25 | 13.1% | -0.7% | ||
| Q1 25 | 16.6% | -12.1% | ||
| Q4 24 | 29.4% | 21.1% | ||
| Q3 24 | 23.5% | 10.3% | ||
| Q2 24 | 21.3% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 0.7% | ||
| Q3 25 | 2.2% | 0.4% | ||
| Q2 25 | 1.5% | 0.3% | ||
| Q1 25 | 1.5% | 0.5% | ||
| Q4 24 | 0.7% | 0.5% | ||
| Q3 24 | 1.4% | 0.5% | ||
| Q2 24 | 0.6% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 5.57× | ||
| Q3 25 | 3.83× | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | 5.94× | -2.22× | ||
| Q4 24 | 3.02× | 3.91× | ||
| Q3 24 | 2.86× | 1.36× | ||
| Q2 24 | 2.25× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FIS
| Banking Solutions | $1.6B | 57% |
| Other | $701.0M | 25% |
| Capital Market Solutions | $508.0M | 18% |
WSO
Segment breakdown not available.
