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Side-by-side financial comparison of Fortive (FTV) 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 $1.1B, roughly 1.5× Fortive). Fortive runs the higher net margin — 12.8% vs 4.5%, a 8.2% gap on every dollar of revenue. On growth, Fortive posted the faster year-over-year revenue change (7.7% vs -10.0%). Over the past eight quarters, WATSCO INC's revenue compounded faster (0.4% CAGR vs -17.0%).
Fortive Corporation is an American industrial technology conglomerate company headquartered in Everett, Washington. The company specializes in providing essential technologies for connected workflow solutions; designing, developing, manufacturing and distributing professional and engineered products, software and services. Their products and services are split into three strategic segments; Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. As of Decem...
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.
FTV vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $136.4M | $71.7M |
| Gross Margin | 63.2% | 27.1% |
| Operating Margin | 17.9% | 6.4% |
| Net Margin | 12.8% | 4.5% |
| Revenue YoY | 7.7% | -10.0% |
| Net Profit YoY | 21.1% | -25.9% |
| EPS (diluted) | $0.44 | $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 | $1.1B | — | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.6B | $1.8B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.6B | $2.1B |
| Q1 26 | $136.4M | — | ||
| Q4 25 | $185.7M | $71.7M | ||
| Q3 25 | $55.0M | $161.6M | ||
| Q2 25 | $166.6M | $183.6M | ||
| Q1 25 | $171.9M | $80.1M | ||
| Q4 24 | $208.8M | $96.8M | ||
| Q3 24 | $221.6M | $171.0M | ||
| Q2 24 | $195.1M | $181.4M |
| Q1 26 | 63.2% | — | ||
| Q4 25 | 63.2% | 27.1% | ||
| Q3 25 | 63.2% | 27.5% | ||
| Q2 25 | 59.0% | 29.3% | ||
| Q1 25 | 59.8% | 28.1% | ||
| Q4 24 | 60.3% | 26.7% | ||
| Q3 24 | 60.0% | 26.2% | ||
| Q2 24 | 59.8% | 27.1% |
| Q1 26 | 17.9% | — | ||
| Q4 25 | 20.1% | 6.4% | ||
| Q3 25 | 15.5% | 11.4% | ||
| Q2 25 | 14.6% | 13.2% | ||
| Q1 25 | 15.8% | 7.3% | ||
| Q4 24 | 19.0% | 7.8% | ||
| Q3 24 | 19.3% | 11.6% | ||
| Q2 24 | 19.4% | 12.6% |
| Q1 26 | 12.8% | — | ||
| Q4 25 | 16.5% | 4.5% | ||
| Q3 25 | 5.4% | 7.8% | ||
| Q2 25 | 11.0% | 8.9% | ||
| Q1 25 | 11.7% | 5.2% | ||
| Q4 24 | 12.9% | 5.5% | ||
| Q3 24 | 14.4% | 7.9% | ||
| Q2 24 | 12.6% | 8.5% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.60 | $1.82 | ||
| Q3 25 | $0.16 | $3.98 | ||
| Q2 25 | $0.49 | $4.52 | ||
| Q1 25 | $0.50 | $1.93 | ||
| Q4 24 | $0.60 | $2.42 | ||
| Q3 24 | $0.63 | $4.22 | ||
| Q2 24 | $0.55 | $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 | $356.1M | $733.3M |
| Total DebtLower is stronger | $3.5B | $361.6M |
| Stockholders' EquityBook value | $6.1B | $2.8B |
| Total Assets | $11.6B | $4.4B |
| Debt / EquityLower = less leverage | 0.57× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $356.1M | — | ||
| Q4 25 | $375.5M | $733.3M | ||
| Q3 25 | $430.8M | $524.3M | ||
| Q2 25 | $1.8B | $293.0M | ||
| Q1 25 | $892.1M | $431.8M | ||
| Q4 24 | $813.3M | $781.9M | ||
| Q3 24 | $811.3M | $550.0M | ||
| Q2 24 | $644.1M | $424.9M |
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.2B | $361.6M | ||
| Q3 25 | $3.3B | $340.8M | ||
| Q2 25 | $4.8B | $338.7M | ||
| Q1 25 | $3.9B | $346.4M | ||
| Q4 24 | $3.7B | $337.2M | ||
| Q3 24 | $3.9B | $321.0M | ||
| Q2 24 | $3.8B | $307.1M |
| Q1 26 | $6.1B | — | ||
| Q4 25 | $6.5B | $2.8B | ||
| Q3 25 | $6.5B | $2.8B | ||
| Q2 25 | $10.4B | $2.8B | ||
| Q1 25 | $10.2B | $2.7B | ||
| Q4 24 | $10.2B | $2.7B | ||
| Q3 24 | $10.6B | $2.7B | ||
| Q2 24 | $10.5B | $2.6B |
| Q1 26 | $11.6B | — | ||
| Q4 25 | $11.7B | $4.4B | ||
| Q3 25 | $11.9B | $4.6B | ||
| Q2 25 | $18.2B | $4.7B | ||
| Q1 25 | $17.1B | $4.5B | ||
| Q4 24 | $17.0B | $4.5B | ||
| Q3 24 | $17.5B | $4.5B | ||
| Q2 24 | $17.3B | $4.4B |
| Q1 26 | 0.57× | — | ||
| Q4 25 | 0.50× | 0.13× | ||
| Q3 25 | 0.51× | 0.12× | ||
| Q2 25 | 0.46× | 0.12× | ||
| Q1 25 | 0.38× | 0.13× | ||
| Q4 24 | 0.36× | 0.13× | ||
| Q3 24 | 0.37× | 0.12× | ||
| Q2 24 | 0.36× | 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 | $234.8M | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | 2.5% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.72× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $234.8M | — | ||
| Q4 25 | $1.1B | $399.8M | ||
| Q3 25 | $164.4M | $354.9M | ||
| Q2 25 | $311.2M | $-7.4M | ||
| Q1 25 | $241.7M | $-177.6M | ||
| Q4 24 | $502.2M | $378.9M | ||
| Q3 24 | $459.0M | $232.8M | ||
| Q2 24 | $308.9M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $313.8M | $388.5M | ||
| Q3 25 | $153.1M | $346.1M | ||
| Q2 25 | $274.5M | $-14.3M | ||
| Q1 25 | $215.0M | $-185.2M | ||
| Q4 24 | $465.2M | $370.9M | ||
| Q3 24 | $431.2M | $223.0M | ||
| Q2 24 | $279.7M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 28.0% | 24.6% | ||
| Q3 25 | 14.9% | 16.7% | ||
| Q2 25 | 18.1% | -0.7% | ||
| Q1 25 | 14.6% | -12.1% | ||
| Q4 24 | 28.7% | 21.1% | ||
| Q3 24 | 28.1% | 10.3% | ||
| Q2 24 | 18.0% | 2.4% |
| Q1 26 | 2.5% | — | ||
| Q4 25 | 2.7% | 0.7% | ||
| Q3 25 | 1.1% | 0.4% | ||
| Q2 25 | 2.4% | 0.3% | ||
| Q1 25 | 1.8% | 0.5% | ||
| Q4 24 | 2.3% | 0.5% | ||
| Q3 24 | 1.8% | 0.5% | ||
| Q2 24 | 1.9% | 0.3% |
| Q1 26 | 1.72× | — | ||
| Q4 25 | 5.83× | 5.57× | ||
| Q3 25 | 2.99× | 2.20× | ||
| Q2 25 | 1.87× | -0.04× | ||
| Q1 25 | 1.41× | -2.22× | ||
| Q4 24 | 2.41× | 3.91× | ||
| Q3 24 | 2.07× | 1.36× | ||
| Q2 24 | 1.58× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
