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Side-by-side financial comparison of Lineage, Inc. (LINE) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.5B vs $1.4B, roughly 1.1× Lineage, Inc.). WATSCO INC runs the higher net margin — 6.1% vs -7.3%, a 13.3% gap on every dollar of revenue. On growth, Lineage, Inc. posted the faster year-over-year revenue change (3.1% vs 0.1%).
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
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.
LINE vs WSO — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.5B |
| Net Profit | $-100.0M | $92.9M |
| Gross Margin | 32.3% | 27.9% |
| Operating Margin | 2.5% | 7.2% |
| Net Margin | -7.3% | 6.1% |
| Revenue YoY | 3.1% | 0.1% |
| Net Profit YoY | 79.4% | -1.7% |
| EPS (diluted) | $-0.44 | — |
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 | — | $1.6B | ||
| Q3 25 | $1.4B | $2.1B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.3B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | — | $71.7M | ||
| Q3 25 | $-100.0M | $161.6M | ||
| Q2 25 | $-6.0M | $183.6M | ||
| Q1 25 | $0 | $80.1M | ||
| Q4 24 | $-71.0M | $96.8M | ||
| Q3 24 | $-485.0M | $171.0M | ||
| Q2 24 | $-68.0M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | 32.3% | 27.5% | ||
| Q2 25 | 31.9% | 29.3% | ||
| Q1 25 | 32.2% | 28.1% | ||
| Q4 24 | 32.3% | 26.7% | ||
| Q3 24 | 32.8% | 26.2% | ||
| Q2 24 | 33.4% | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | — | 6.4% | ||
| Q3 25 | 2.5% | 11.4% | ||
| Q2 25 | 1.7% | 13.2% | ||
| Q1 25 | 4.3% | 7.3% | ||
| Q4 24 | -1.6% | 7.8% | ||
| Q3 24 | -38.6% | 11.6% | ||
| Q2 24 | 5.5% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | — | 4.5% | ||
| Q3 25 | -7.3% | 7.8% | ||
| Q2 25 | -0.4% | 8.9% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | -5.3% | 5.5% | ||
| Q3 24 | -36.3% | 7.9% | ||
| Q2 24 | -5.1% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.82 | ||
| Q3 25 | $-0.44 | $3.98 | ||
| Q2 25 | $-0.03 | $4.52 | ||
| Q1 25 | $0.01 | $1.93 | ||
| Q4 24 | $-0.52 | $2.42 | ||
| Q3 24 | $-2.44 | $4.22 | ||
| Q2 24 | $-0.46 | $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 | — | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.4B | $3.2B |
| Total Assets | $19.2B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | — | $733.3M | ||
| Q3 25 | — | $524.3M | ||
| Q2 25 | — | $293.0M | ||
| Q1 25 | — | $431.8M | ||
| Q4 24 | $173.0M | $781.9M | ||
| Q3 24 | $409.0M | $550.0M | ||
| Q2 24 | $73.0M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | — | $2.8B | ||
| Q3 25 | $8.4B | $2.8B | ||
| Q2 25 | $8.6B | $2.8B | ||
| Q1 25 | $8.6B | $2.7B | ||
| Q4 24 | $8.6B | $2.7B | ||
| Q3 24 | $9.0B | $2.7B | ||
| Q2 24 | $4.9B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | — | $4.4B | ||
| Q3 25 | $19.2B | $4.6B | ||
| Q2 25 | $19.4B | $4.7B | ||
| Q1 25 | $18.8B | $4.5B | ||
| Q4 24 | $18.7B | $4.5B | ||
| Q3 24 | $19.3B | $4.5B | ||
| Q2 24 | $18.8B | $4.4B |
| Q1 26 | — | — | ||
| 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× |
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 | $230.0M | — |
| Free Cash FlowOCF − Capex | $35.0M | — |
| FCF MarginFCF / Revenue | 2.5% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $399.8M | ||
| Q3 25 | $230.0M | $354.9M | ||
| Q2 25 | $258.0M | $-7.4M | ||
| Q1 25 | $139.0M | $-177.6M | ||
| Q4 24 | — | $378.9M | ||
| Q3 24 | $186.0M | $232.8M | ||
| Q2 24 | $155.0M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $388.5M | ||
| Q3 25 | $35.0M | $346.1M | ||
| Q2 25 | $95.0M | $-14.3M | ||
| Q1 25 | $-12.0M | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | $33.0M | $223.0M | ||
| Q2 24 | $-31.0M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | 2.5% | 16.7% | ||
| Q2 25 | 7.0% | -0.7% | ||
| Q1 25 | -0.9% | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | 2.5% | 10.3% | ||
| Q2 24 | -2.3% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | 14.2% | 0.4% | ||
| Q2 25 | 12.1% | 0.3% | ||
| Q1 25 | 11.7% | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 11.5% | 0.5% | ||
| Q2 24 | 13.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
WSO
Segment breakdown not available.
