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Side-by-side financial comparison of Primerica, Inc. (PRI) 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 $853.7M, roughly 1.8× Primerica, Inc.). Primerica, Inc. runs the higher net margin — 23.1% vs 6.1%, a 17.0% gap on every dollar of revenue. On growth, Primerica, Inc. posted the faster year-over-year revenue change (11.0% vs 0.1%). Over the past eight quarters, Primerica, Inc.'s revenue compounded faster (7.2% CAGR vs -15.3%).
Primerica, Inc. is a multi-level marketing company that provides insurance, investment and financial services to middle-income families in the United States and Canada.
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.
PRI vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $853.7M | $1.5B |
| Net Profit | $197.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | 28.9% | 7.2% |
| Net Margin | 23.1% | 6.1% |
| Revenue YoY | 11.0% | 0.1% |
| Net Profit YoY | 17.9% | -1.7% |
| EPS (diluted) | $6.11 | — |
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 | $853.7M | $1.6B | ||
| Q3 25 | $839.9M | $2.1B | ||
| Q2 25 | $793.3M | $2.1B | ||
| Q1 25 | $804.8M | $1.5B | ||
| Q4 24 | $768.8M | $1.8B | ||
| Q3 24 | $774.1M | $2.2B | ||
| Q2 24 | $803.4M | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $197.0M | $71.7M | ||
| Q3 25 | $206.8M | $161.6M | ||
| Q2 25 | $178.3M | $183.6M | ||
| Q1 25 | $169.1M | $80.1M | ||
| Q4 24 | $167.1M | $96.8M | ||
| Q3 24 | $164.4M | $171.0M | ||
| Q2 24 | $1.2M | $181.4M |
| Q1 26 | — | 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 | 98.0% | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 28.9% | 6.4% | ||
| Q3 25 | 32.3% | 11.4% | ||
| Q2 25 | 29.6% | 13.2% | ||
| Q1 25 | 27.5% | 7.3% | ||
| Q4 24 | 64.7% | 7.8% | ||
| Q3 24 | 32.9% | 11.6% | ||
| Q2 24 | 1.0% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 23.1% | 4.5% | ||
| Q3 25 | 24.6% | 7.8% | ||
| Q2 25 | 22.5% | 8.9% | ||
| Q1 25 | 21.0% | 5.2% | ||
| Q4 24 | 21.7% | 5.5% | ||
| Q3 24 | 21.2% | 7.9% | ||
| Q2 24 | 0.1% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $6.11 | $1.82 | ||
| Q3 25 | $6.35 | $3.98 | ||
| Q2 25 | $5.40 | $4.52 | ||
| Q1 25 | $5.05 | $1.93 | ||
| Q4 24 | $4.92 | $2.42 | ||
| Q3 24 | $4.83 | $4.22 | ||
| Q2 24 | $0.03 | $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 | $756.2M | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.4B | $3.2B |
| Total Assets | $15.0B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $756.2M | $733.3M | ||
| Q3 25 | $644.9M | $524.3M | ||
| Q2 25 | $621.2M | $293.0M | ||
| Q1 25 | $625.1M | $431.8M | ||
| Q4 24 | $687.8M | $781.9M | ||
| Q3 24 | $550.1M | $550.0M | ||
| Q2 24 | $627.3M | $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 | $2.4B | $2.8B | ||
| Q3 25 | $2.3B | $2.8B | ||
| Q2 25 | $2.3B | $2.8B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.3B | $2.7B | ||
| Q3 24 | $1.9B | $2.7B | ||
| Q2 24 | $2.1B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $15.0B | $4.4B | ||
| Q3 25 | $14.8B | $4.6B | ||
| Q2 25 | $14.8B | $4.7B | ||
| Q1 25 | $14.6B | $4.5B | ||
| Q4 24 | $14.6B | $4.5B | ||
| Q3 24 | $14.8B | $4.5B | ||
| Q2 24 | $14.6B | $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 | $338.2M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $338.2M | $399.8M | ||
| Q3 25 | $202.9M | $354.9M | ||
| Q2 25 | $162.6M | $-7.4M | ||
| Q1 25 | $197.5M | $-177.6M | ||
| Q4 24 | $270.6M | $378.9M | ||
| Q3 24 | $207.3M | $232.8M | ||
| Q2 24 | $173.3M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $388.5M | ||
| Q3 25 | — | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | — | $223.0M | ||
| Q2 24 | — | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | — | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.72× | 5.57× | ||
| Q3 25 | 0.98× | 2.20× | ||
| Q2 25 | 0.91× | -0.04× | ||
| Q1 25 | 1.17× | -2.22× | ||
| Q4 24 | 1.62× | 3.91× | ||
| Q3 24 | 1.26× | 1.36× | ||
| Q2 24 | 147.98× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRI
| Revenues From Sources Other Than Contracts With Customers | $445.9M | 52% |
| Investment And Savings Products Segment Revenues | $340.3M | 40% |
| Other | $56.5M | 7% |
| Segment Revenues From Contracts With Customers | $11.0M | 1% |
WSO
Segment breakdown not available.
