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Side-by-side financial comparison of OPEN TEXT CORP (OTEX) 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 $1.3B, roughly 1.2× OPEN TEXT CORP). OPEN TEXT CORP runs the higher net margin — 12.7% vs 6.1%, a 6.6% gap on every dollar of revenue. On growth, WATSCO INC posted the faster year-over-year revenue change (0.1% vs -0.6%). Over the past eight quarters, OPEN TEXT CORP's revenue compounded faster (-4.3% CAGR vs -15.3%).
Open Text Corporation is a global software company that develops and sells information management software.
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.
OTEX vs WSO — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.5B |
| Net Profit | $168.1M | $92.9M |
| Gross Margin | 74.0% | 27.9% |
| Operating Margin | 22.0% | 7.2% |
| Net Margin | 12.7% | 6.1% |
| Revenue YoY | -0.6% | 0.1% |
| Net Profit YoY | -26.9% | -1.7% |
| EPS (diluted) | $0.66 | — |
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 | $1.3B | $1.6B | ||
| Q3 25 | $1.3B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.3B | $1.8B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $1.4B | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $168.1M | $71.7M | ||
| Q3 25 | $146.6M | $161.6M | ||
| Q2 25 | $28.8M | $183.6M | ||
| Q1 25 | $92.8M | $80.1M | ||
| Q4 24 | $229.9M | $96.8M | ||
| Q3 24 | $84.4M | $171.0M | ||
| Q2 24 | $248.2M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | 74.0% | 27.1% | ||
| Q3 25 | 72.8% | 27.5% | ||
| Q2 25 | 72.3% | 29.3% | ||
| Q1 25 | 71.6% | 28.1% | ||
| Q4 24 | 73.3% | 26.7% | ||
| Q3 24 | 71.7% | 26.2% | ||
| Q2 24 | 72.5% | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 22.0% | 6.4% | ||
| Q3 25 | 21.0% | 11.4% | ||
| Q2 25 | 13.9% | 13.2% | ||
| Q1 25 | 16.7% | 7.3% | ||
| Q4 24 | 22.2% | 7.8% | ||
| Q3 24 | 16.3% | 11.6% | ||
| Q2 24 | 14.2% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 12.7% | 4.5% | ||
| Q3 25 | 11.4% | 7.8% | ||
| Q2 25 | 2.2% | 8.9% | ||
| Q1 25 | 7.4% | 5.2% | ||
| Q4 24 | 17.2% | 5.5% | ||
| Q3 24 | 6.6% | 7.9% | ||
| Q2 24 | 18.2% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.66 | $1.82 | ||
| Q3 25 | $0.58 | $3.98 | ||
| Q2 25 | $0.11 | $4.52 | ||
| Q1 25 | $0.35 | $1.93 | ||
| Q4 24 | $0.87 | $2.42 | ||
| Q3 24 | $0.32 | $4.22 | ||
| Q2 24 | $0.91 | $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 | $1.3B | $392.7M |
| Total DebtLower is stronger | $6.4B | — |
| Stockholders' EquityBook value | $4.0B | $3.2B |
| Total Assets | $13.6B | $4.6B |
| Debt / EquityLower = less leverage | 1.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $1.3B | $733.3M | ||
| Q3 25 | $1.1B | $524.3M | ||
| Q2 25 | $1.2B | $293.0M | ||
| Q1 25 | $1.3B | $431.8M | ||
| Q4 24 | $1.1B | $781.9M | ||
| Q3 24 | $1.0B | $550.0M | ||
| Q2 24 | $1.3B | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $6.4B | $361.6M | ||
| Q3 25 | $6.4B | $340.8M | ||
| Q2 25 | $6.4B | $338.7M | ||
| Q1 25 | $6.4B | $346.4M | ||
| Q4 24 | $6.4B | $337.2M | ||
| Q3 24 | $6.4B | $321.0M | ||
| Q2 24 | $6.4B | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $4.0B | $2.8B | ||
| Q3 25 | $4.0B | $2.8B | ||
| Q2 25 | $3.9B | $2.8B | ||
| Q1 25 | $4.1B | $2.7B | ||
| Q4 24 | $4.2B | $2.7B | ||
| Q3 24 | $4.1B | $2.7B | ||
| Q2 24 | $4.2B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $13.6B | $4.4B | ||
| Q3 25 | $13.5B | $4.6B | ||
| Q2 25 | $13.8B | $4.7B | ||
| Q1 25 | $13.8B | $4.5B | ||
| Q4 24 | $13.7B | $4.5B | ||
| Q3 24 | $13.8B | $4.5B | ||
| Q2 24 | $14.2B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 1.58× | 0.13× | ||
| Q3 25 | 1.61× | 0.12× | ||
| Q2 25 | 1.62× | 0.12× | ||
| Q1 25 | 1.55× | 0.13× | ||
| Q4 24 | 1.51× | 0.13× | ||
| Q3 24 | 1.55× | 0.12× | ||
| Q2 24 | 1.52× | 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 | $318.7M | — |
| Free Cash FlowOCF − Capex | $279.4M | — |
| FCF MarginFCF / Revenue | 21.1% | — |
| Capex IntensityCapex / Revenue | 3.0% | — |
| Cash ConversionOCF / Net Profit | 1.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | $878.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $318.7M | $399.8M | ||
| Q3 25 | $147.8M | $354.9M | ||
| Q2 25 | $158.2M | $-7.4M | ||
| Q1 25 | $402.2M | $-177.6M | ||
| Q4 24 | $348.0M | $378.9M | ||
| Q3 24 | $-77.8M | $232.8M | ||
| Q2 24 | $185.2M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $279.4M | $388.5M | ||
| Q3 25 | $101.2M | $346.1M | ||
| Q2 25 | $124.0M | $-14.3M | ||
| Q1 25 | $373.8M | $-185.2M | ||
| Q4 24 | $306.7M | $370.9M | ||
| Q3 24 | $-117.1M | $223.0M | ||
| Q2 24 | $145.2M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 21.1% | 24.6% | ||
| Q3 25 | 7.9% | 16.7% | ||
| Q2 25 | 9.5% | -0.7% | ||
| Q1 25 | 29.8% | -12.1% | ||
| Q4 24 | 23.0% | 21.1% | ||
| Q3 24 | -9.2% | 10.3% | ||
| Q2 24 | 10.7% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 0.7% | ||
| Q3 25 | 3.6% | 0.4% | ||
| Q2 25 | 2.6% | 0.3% | ||
| Q1 25 | 2.3% | 0.5% | ||
| Q4 24 | 3.1% | 0.5% | ||
| Q3 24 | 3.1% | 0.5% | ||
| Q2 24 | 2.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | 5.57× | ||
| Q3 25 | 1.01× | 2.20× | ||
| Q2 25 | 5.49× | -0.04× | ||
| Q1 25 | 4.33× | -2.22× | ||
| Q4 24 | 1.51× | 3.91× | ||
| Q3 24 | -0.92× | 1.36× | ||
| Q2 24 | 0.75× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OTEX
| Transferred At Point In Time | $184.2M | 14% |
| Cybersecurity Enterprise Product | $174.5M | 13% |
| Business Network Product | $159.8M | 12% |
| Business Network Cloud Services And Subscriptions | $151.4M | 11% |
| Content Cloud Services And Subscriptions | $137.9M | 10% |
| Cybersecurity SMB Consumer Product | $127.6M | 10% |
| Application Delivery Management Product | $120.1M | 9% |
| IT Operations Management Product | $113.3M | 9% |
| Professional Service And Other | $82.5M | 6% |
| Analytics Product | $58.1M | 4% |
| IT Operations Management Cloud Services And Subscriptions | $7.8M | 1% |
WSO
Segment breakdown not available.
