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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) 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 $1.2B, roughly 1.3× LANDSTAR SYSTEM INC). WATSCO INC runs the higher net margin — 6.1% vs 3.4%, a 2.7% gap on every dollar of revenue. On growth, LANDSTAR SYSTEM INC posted the faster year-over-year revenue change (1.6% vs 0.1%). Over the past eight quarters, LANDSTAR SYSTEM INC's revenue compounded faster (-2.2% CAGR vs -15.3%).
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
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.
LSTR vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $39.4M | $92.9M |
| Gross Margin | 9.6% | 27.9% |
| Operating Margin | 4.5% | 7.2% |
| Net Margin | 3.4% | 6.1% |
| Revenue YoY | 1.6% | 0.1% |
| Net Profit YoY | 32.3% | -1.7% |
| EPS (diluted) | $1.16 | — |
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 | $1.2B | $1.5B | ||
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | $39.4M | $92.9M | ||
| Q4 25 | $23.9M | $71.7M | ||
| Q3 25 | $19.4M | $161.6M | ||
| Q2 25 | $41.9M | $183.6M | ||
| Q1 25 | $29.8M | $80.1M | ||
| Q4 24 | $46.2M | $96.8M | ||
| Q3 24 | $50.0M | $171.0M | ||
| Q2 24 | $52.6M | $181.4M |
| Q1 26 | 9.6% | 27.9% | ||
| 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 26 | 4.5% | 7.2% | ||
| Q4 25 | 2.5% | 6.4% | ||
| Q3 25 | 2.2% | 11.4% | ||
| Q2 25 | 4.6% | 13.2% | ||
| Q1 25 | 3.4% | 7.3% | ||
| Q4 24 | 4.8% | 7.8% | ||
| Q3 24 | 5.2% | 11.6% | ||
| Q2 24 | 5.6% | 12.6% |
| Q1 26 | 3.4% | 6.1% | ||
| Q4 25 | 2.0% | 4.5% | ||
| Q3 25 | 1.6% | 7.8% | ||
| Q2 25 | 3.5% | 8.9% | ||
| Q1 25 | 2.6% | 5.2% | ||
| Q4 24 | 3.8% | 5.5% | ||
| Q3 24 | 4.1% | 7.9% | ||
| Q2 24 | 4.3% | 8.5% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | $0.70 | $1.82 | ||
| Q3 25 | $0.56 | $3.98 | ||
| Q2 25 | $1.20 | $4.52 | ||
| Q1 25 | $0.85 | $1.93 | ||
| Q4 24 | $1.30 | $2.42 | ||
| Q3 24 | $1.41 | $4.22 | ||
| Q2 24 | $1.48 | $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 | $411.0M | $392.7M |
| Total DebtLower is stronger | $26.1M | — |
| Stockholders' EquityBook value | $799.0M | $3.2B |
| Total Assets | $1.6B | $4.6B |
| Debt / EquityLower = less leverage | 0.03× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $411.0M | $392.7M | ||
| Q4 25 | $452.2M | $733.3M | ||
| Q3 25 | $434.4M | $524.3M | ||
| Q2 25 | $426.2M | $293.0M | ||
| Q1 25 | $473.4M | $431.8M | ||
| Q4 24 | $566.6M | $781.9M | ||
| Q3 24 | $531.3M | $550.0M | ||
| Q2 24 | $504.0M | $424.9M |
| Q1 26 | $26.1M | — | ||
| Q4 25 | $0 | $361.6M | ||
| Q3 25 | $0 | $340.8M | ||
| Q2 25 | $0 | $338.7M | ||
| Q1 25 | $0 | $346.4M | ||
| Q4 24 | $0 | $337.2M | ||
| Q3 24 | $0 | $321.0M | ||
| Q2 24 | $0 | $307.1M |
| Q1 26 | $799.0M | $3.2B | ||
| Q4 25 | $795.7M | $2.8B | ||
| Q3 25 | $888.7M | $2.8B | ||
| Q2 25 | $921.8M | $2.8B | ||
| Q1 25 | $930.8M | $2.7B | ||
| Q4 24 | $972.4M | $2.7B | ||
| Q3 24 | $1.0B | $2.7B | ||
| Q2 24 | $1.0B | $2.6B |
| Q1 26 | $1.6B | $4.6B | ||
| Q4 25 | $1.6B | $4.4B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.7B | $4.7B | ||
| Q1 25 | $1.7B | $4.5B | ||
| Q4 24 | $1.8B | $4.5B | ||
| Q3 24 | $1.8B | $4.5B | ||
| Q2 24 | $1.8B | $4.4B |
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.00× | 0.13× | ||
| Q3 25 | 0.00× | 0.12× | ||
| Q2 25 | 0.00× | 0.12× | ||
| Q1 25 | 0.00× | 0.13× | ||
| Q4 24 | 0.00× | 0.13× | ||
| Q3 24 | 0.00× | 0.12× | ||
| Q2 24 | 0.00× | 0.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
