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Side-by-side financial comparison of iHeartMedia, Inc. (IHRT) 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 1.4× iHeartMedia, Inc.). WATSCO INC runs the higher net margin — 4.5% vs -3.7%, a 8.3% gap on every dollar of revenue. On growth, iHeartMedia, Inc. posted the faster year-over-year revenue change (0.8% vs -10.0%). WATSCO INC produced more free cash flow last quarter ($388.5M vs $137.6M). Over the past eight quarters, iHeartMedia, Inc.'s revenue compounded faster (18.8% CAGR vs 0.4%).
iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.
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.
IHRT vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $-41.9M | $71.7M |
| Gross Margin | — | 27.1% |
| Operating Margin | 7.6% | 6.4% |
| Net Margin | -3.7% | 4.5% |
| Revenue YoY | 0.8% | -10.0% |
| Net Profit YoY | -233.1% | -25.9% |
| EPS (diluted) | $-0.25 | $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.
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $997.0M | $2.1B | ||
| Q2 25 | $933.7M | $2.1B | ||
| Q1 25 | $807.1M | $1.5B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.0B | $2.2B | ||
| Q2 24 | $929.1M | $2.1B | ||
| Q1 24 | $799.0M | $1.6B |
| Q4 25 | $-41.9M | $71.7M | ||
| Q3 25 | $-66.3M | $161.6M | ||
| Q2 25 | $-83.5M | $183.6M | ||
| Q1 25 | $-281.2M | $80.1M | ||
| Q4 24 | $31.5M | $96.8M | ||
| Q3 24 | $-41.3M | $171.0M | ||
| Q2 24 | $-981.7M | $181.4M | ||
| Q1 24 | $-18.5M | $87.0M |
| 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 24 | — | 27.5% |
| Q4 25 | 7.6% | 6.4% | ||
| Q3 25 | -11.7% | 11.4% | ||
| Q2 25 | 3.8% | 13.2% | ||
| Q1 25 | -3.2% | 7.3% | ||
| Q4 24 | 9.3% | 7.8% | ||
| Q3 24 | 7.6% | 11.6% | ||
| Q2 24 | -97.9% | 12.6% | ||
| Q1 24 | -4.3% | 8.1% |
| Q4 25 | -3.7% | 4.5% | ||
| Q3 25 | -6.6% | 7.8% | ||
| Q2 25 | -8.9% | 8.9% | ||
| Q1 25 | -34.8% | 5.2% | ||
| Q4 24 | 2.8% | 5.5% | ||
| Q3 24 | -4.1% | 7.9% | ||
| Q2 24 | -105.7% | 8.5% | ||
| Q1 24 | -2.3% | 5.6% |
| Q4 25 | $-0.25 | $1.82 | ||
| Q3 25 | $-0.43 | $3.98 | ||
| Q2 25 | $-0.54 | $4.52 | ||
| Q1 25 | $-1.84 | $1.93 | ||
| Q4 24 | $0.21 | $2.42 | ||
| Q3 24 | $-0.27 | $4.22 | ||
| Q2 24 | $-6.50 | $4.49 | ||
| Q1 24 | $-0.12 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $270.9M | $733.3M |
| Total DebtLower is stronger | $5.1B | $361.6M |
| Stockholders' EquityBook value | $-1.8B | $2.8B |
| Total Assets | $5.1B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $270.9M | $733.3M | ||
| Q3 25 | $192.2M | $524.3M | ||
| Q2 25 | $235.9M | $293.0M | ||
| Q1 25 | $167.7M | $431.8M | ||
| Q4 24 | $259.6M | $781.9M | ||
| Q3 24 | $431.8M | $550.0M | ||
| Q2 24 | $364.7M | $424.9M | ||
| Q1 24 | $361.4M | $478.9M |
| Q4 25 | $5.1B | $361.6M | ||
| Q3 25 | $5.1B | $340.8M | ||
| Q2 25 | $5.1B | $338.7M | ||
| Q1 25 | $5.1B | $346.4M | ||
| Q4 24 | $5.1B | $337.2M | ||
| Q3 24 | $5.2B | $321.0M | ||
| Q2 24 | $5.2B | $307.1M | ||
| Q1 24 | $5.1B | $306.3M |
| Q4 25 | $-1.8B | $2.8B | ||
| Q3 25 | $-1.8B | $2.8B | ||
| Q2 25 | $-1.7B | $2.8B | ||
| Q1 25 | $-1.6B | $2.7B | ||
| Q4 24 | $-1.4B | $2.7B | ||
| Q3 24 | $-1.4B | $2.7B | ||
| Q2 24 | $-1.4B | $2.6B | ||
| Q1 24 | $-398.6M | $2.5B |
| Q4 25 | $5.1B | $4.4B | ||
| Q3 25 | $5.1B | $4.6B | ||
| Q2 25 | $5.4B | $4.7B | ||
| Q1 25 | $5.3B | $4.5B | ||
| Q4 24 | $5.6B | $4.5B | ||
| Q3 24 | $5.8B | $4.5B | ||
| Q2 24 | $5.8B | $4.4B | ||
| Q1 24 | $6.8B | $4.4B |
| 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× | ||
| Q1 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 | $156.3M | $399.8M |
| Free Cash FlowOCF − Capex | $137.6M | $388.5M |
| FCF MarginFCF / Revenue | 12.2% | 24.6% |
| Capex IntensityCapex / Revenue | 1.7% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | $10.9M | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $156.3M | $399.8M | ||
| Q3 25 | $-9.5M | $354.9M | ||
| Q2 25 | $6.8M | $-7.4M | ||
| Q1 25 | $-60.9M | $-177.6M | ||
| Q4 24 | $1.2M | $378.9M | ||
| Q3 24 | $102.8M | $232.8M | ||
| Q2 24 | $26.7M | $57.7M | ||
| Q1 24 | $-59.3M | $103.7M |
| Q4 25 | $137.6M | $388.5M | ||
| Q3 25 | $-32.8M | $346.1M | ||
| Q2 25 | $-13.2M | $-14.3M | ||
| Q1 25 | $-80.7M | $-185.2M | ||
| Q4 24 | $-24.2M | $370.9M | ||
| Q3 24 | $73.3M | $223.0M | ||
| Q2 24 | $5.6M | $51.3M | ||
| Q1 24 | $-80.9M | $97.9M |
| Q4 25 | 12.2% | 24.6% | ||
| Q3 25 | -3.3% | 16.7% | ||
| Q2 25 | -1.4% | -0.7% | ||
| Q1 25 | -10.0% | -12.1% | ||
| Q4 24 | -2.2% | 21.1% | ||
| Q3 24 | 7.3% | 10.3% | ||
| Q2 24 | 0.6% | 2.4% | ||
| Q1 24 | -10.1% | 6.3% |
| Q4 25 | 1.7% | 0.7% | ||
| Q3 25 | 2.3% | 0.4% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 2.4% | 0.5% | ||
| Q4 24 | 2.3% | 0.5% | ||
| Q3 24 | 2.9% | 0.5% | ||
| Q2 24 | 2.3% | 0.3% | ||
| Q1 24 | 2.7% | 0.4% |
| Q4 25 | — | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | 0.04× | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
WSO
Segment breakdown not available.
