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Side-by-side financial comparison of Lennox International (LII) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Lennox International is the larger business by last-quarter revenue ($1.2B vs $625.1M, roughly 1.9× WATTS WATER TECHNOLOGIES INC). Lennox International runs the higher net margin — 13.6% vs 13.4%, a 0.2% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs -11.2%). Lennox International produced more free cash flow last quarter ($376.7M vs $140.3M). Over the past eight quarters, Lennox International's revenue compounded faster (6.8% CAGR vs 4.6%).
Lennox International Inc. is an American provider of climate control products for the heating, ventilation, and air conditioning (HVAC) and refrigeration markets. Based in Richardson, Texas, the company is 9.8% owned by John W. Norris, III, a descendant of DW Norris, who acquired the company in 1904. The company's largest production facilities are in Saltillo, Mexico, Marshalltown, Iowa, and Orangeburg, South Carolina.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
LII vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $625.1M |
| Net Profit | $162.1M | $83.7M |
| Gross Margin | 34.7% | 49.5% |
| Operating Margin | 18.6% | 18.2% |
| Net Margin | 13.6% | 13.4% |
| Revenue YoY | -11.2% | 15.7% |
| Net Profit YoY | -18.0% | 24.0% |
| EPS (diluted) | $4.62 | $2.50 |
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 | $1.2B | $625.1M | ||
| Q3 25 | $1.4B | $611.7M | ||
| Q2 25 | $1.5B | $643.7M | ||
| Q1 25 | $1.1B | $558.0M | ||
| Q4 24 | $1.3B | $540.4M | ||
| Q3 24 | $1.5B | $543.6M | ||
| Q2 24 | $1.5B | $597.3M | ||
| Q1 24 | $1.0B | $570.9M |
| Q4 25 | $162.1M | $83.7M | ||
| Q3 25 | $245.8M | $82.2M | ||
| Q2 25 | $277.6M | $100.9M | ||
| Q1 25 | $120.3M | $74.0M | ||
| Q4 24 | $197.7M | $67.5M | ||
| Q3 24 | $239.0M | $69.1M | ||
| Q2 24 | $245.9M | $82.0M | ||
| Q1 24 | $124.3M | $72.6M |
| Q4 25 | 34.7% | 49.5% | ||
| Q3 25 | 32.8% | 48.8% | ||
| Q2 25 | 34.8% | 50.6% | ||
| Q1 25 | 30.6% | 48.8% | ||
| Q4 24 | 33.9% | 46.7% | ||
| Q3 24 | 32.6% | 47.3% | ||
| Q2 24 | 33.6% | 47.7% | ||
| Q1 24 | 32.5% | 46.9% |
| Q4 25 | 18.6% | 18.2% | ||
| Q3 25 | 21.7% | 18.2% | ||
| Q2 25 | 23.6% | 21.0% | ||
| Q1 25 | 14.5% | 15.7% | ||
| Q4 24 | 18.2% | 16.5% | ||
| Q3 24 | 20.2% | 17.1% | ||
| Q2 24 | 22.1% | 18.7% | ||
| Q1 24 | 15.9% | 16.9% |
| Q4 25 | 13.6% | 13.4% | ||
| Q3 25 | 17.2% | 13.4% | ||
| Q2 25 | 18.5% | 15.7% | ||
| Q1 25 | 11.2% | 13.3% | ||
| Q4 24 | 14.7% | 12.5% | ||
| Q3 24 | 16.0% | 12.7% | ||
| Q2 24 | 16.9% | 13.7% | ||
| Q1 24 | 11.9% | 12.7% |
| Q4 25 | $4.62 | $2.50 | ||
| Q3 25 | $6.98 | $2.45 | ||
| Q2 25 | $7.82 | $3.01 | ||
| Q1 25 | $3.37 | $2.21 | ||
| Q4 24 | $5.52 | $2.02 | ||
| Q3 24 | $6.68 | $2.06 | ||
| Q2 24 | $6.87 | $2.44 | ||
| Q1 24 | $3.47 | $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 | $34.7M | $405.5M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $2.0B |
| Total Assets | $4.1B | $2.9B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.7M | $405.5M | ||
| Q3 25 | $59.2M | $457.7M | ||
| Q2 25 | $55.1M | $369.3M | ||
| Q1 25 | $222.9M | $336.8M | ||
| Q4 24 | $422.3M | $386.9M | ||
| Q3 24 | $255.7M | $303.9M | ||
| Q2 24 | $57.8M | $279.4M | ||
| Q1 24 | $57.6M | $237.1M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $838.2M | — | ||
| Q2 25 | $835.7M | — | ||
| Q1 25 | $834.2M | — | ||
| Q4 24 | $833.1M | — | ||
| Q3 24 | $827.6M | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | $1.2B | $2.0B | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $900.5M | $1.9B | ||
| Q1 25 | $852.5M | $1.8B | ||
| Q4 24 | $850.2M | $1.7B | ||
| Q3 24 | $754.0M | $1.7B | ||
| Q2 24 | $577.4M | $1.6B | ||
| Q1 24 | $368.8M | $1.6B |
| Q4 25 | $4.1B | $2.9B | ||
| Q3 25 | $3.5B | $2.7B | ||
| Q2 25 | $3.7B | $2.6B | ||
| Q1 25 | $3.5B | $2.5B | ||
| Q4 24 | $3.5B | $2.4B | ||
| Q3 24 | $3.3B | $2.4B | ||
| Q2 24 | $3.2B | $2.4B | ||
| Q1 24 | $3.0B | $2.3B |
| Q4 25 | 0.98× | — | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.93× | — | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | 1.95× | — | ||
| Q1 24 | 3.13× | — |
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 | $405.9M | $154.7M |
| Free Cash FlowOCF − Capex | $376.7M | $140.3M |
| FCF MarginFCF / Revenue | 31.5% | 22.4% |
| Capex IntensityCapex / Revenue | 2.4% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.50× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $638.8M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $405.9M | $154.7M | ||
| Q3 25 | $300.7M | $122.4M | ||
| Q2 25 | $86.8M | $69.7M | ||
| Q1 25 | $-35.8M | $55.2M | ||
| Q4 24 | $332.4M | $139.5M | ||
| Q3 24 | $452.1M | $90.7M | ||
| Q2 24 | $184.0M | $85.3M | ||
| Q1 24 | $-22.8M | $45.6M |
| Q4 25 | $376.7M | $140.3M | ||
| Q3 25 | $265.1M | $110.9M | ||
| Q2 25 | $58.3M | $59.5M | ||
| Q1 25 | $-61.3M | $45.6M | ||
| Q4 24 | $272.2M | $127.5M | ||
| Q3 24 | $410.9M | $84.3M | ||
| Q2 24 | $151.3M | $78.5M | ||
| Q1 24 | $-52.3M | $35.5M |
| Q4 25 | 31.5% | 22.4% | ||
| Q3 25 | 18.6% | 18.1% | ||
| Q2 25 | 3.9% | 9.2% | ||
| Q1 25 | -5.7% | 8.2% | ||
| Q4 24 | 20.2% | 23.6% | ||
| Q3 24 | 27.4% | 15.5% | ||
| Q2 24 | 10.4% | 13.1% | ||
| Q1 24 | -5.0% | 6.2% |
| Q4 25 | 2.4% | 2.3% | ||
| Q3 25 | 2.5% | 1.9% | ||
| Q2 25 | 1.9% | 1.6% | ||
| Q1 25 | 2.4% | 1.7% | ||
| Q4 24 | 4.5% | 2.2% | ||
| Q3 24 | 2.8% | 1.2% | ||
| Q2 24 | 2.3% | 1.1% | ||
| Q1 24 | 2.8% | 1.8% |
| Q4 25 | 2.50× | 1.85× | ||
| Q3 25 | 1.22× | 1.49× | ||
| Q2 25 | 0.31× | 0.69× | ||
| Q1 25 | -0.30× | 0.75× | ||
| Q4 24 | 1.68× | 2.07× | ||
| Q3 24 | 1.89× | 1.31× | ||
| Q2 24 | 0.75× | 1.04× | ||
| Q1 24 | -0.18× | 0.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LII
| Residential Heating And Cooling | $699.8M | 59% |
| Commercial Heating And Cooling | $495.2M | 41% |
WTS
Segment breakdown not available.
