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Side-by-side financial comparison of Rithm Capital Corp. (RITM) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.6B vs $828.2M, roughly 1.9× Rithm Capital Corp.). Rithm Capital Corp. runs the higher net margin — 13.2% vs 4.5%, a 8.7% gap on every dollar of revenue. On growth, Rithm Capital Corp. posted the faster year-over-year revenue change (508.5% vs -10.0%). Over the past eight quarters, WATSCO INC's revenue compounded faster (0.4% CAGR vs -17.9%).
Rithm Capital Corp. (Rithm) is an American investment management company headquartered in New York that focuses on real estate and alternative investments.
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.
RITM vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $828.2M | $1.6B |
| Net Profit | $109.5M | $71.7M |
| Gross Margin | — | 27.1% |
| Operating Margin | 29.9% | 6.4% |
| Net Margin | 13.2% | 4.5% |
| Revenue YoY | 508.5% | -10.0% |
| Net Profit YoY | 27.7% | -25.9% |
| EPS (diluted) | $0.12 | $1.82 |
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 | $828.2M | — | ||
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.2B | $2.1B | ||
| Q1 25 | $768.4M | $1.5B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $619.5M | $2.2B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | $109.5M | — | ||
| Q4 25 | $85.0M | $71.7M | ||
| Q3 25 | $221.5M | $161.6M | ||
| Q2 25 | $311.7M | $183.6M | ||
| Q1 25 | $78.8M | $80.1M | ||
| Q4 24 | $290.2M | $96.8M | ||
| Q3 24 | $121.7M | $171.0M | ||
| Q2 24 | $235.6M | $181.4M |
| Q1 26 | — | — | ||
| 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 | 29.9% | — | ||
| Q4 25 | 13.8% | 6.4% | ||
| Q3 25 | 21.4% | 11.4% | ||
| Q2 25 | 25.2% | 13.2% | ||
| Q1 25 | 7.4% | 7.3% | ||
| Q4 24 | 23.8% | 7.8% | ||
| Q3 24 | 7.3% | 11.6% | ||
| Q2 24 | 23.6% | 12.6% |
| Q1 26 | 13.2% | — | ||
| Q4 25 | 5.7% | 4.5% | ||
| Q3 25 | 20.0% | 7.8% | ||
| Q2 25 | 25.6% | 8.9% | ||
| Q1 25 | 10.3% | 5.2% | ||
| Q4 24 | 14.0% | 5.5% | ||
| Q3 24 | 19.7% | 7.9% | ||
| Q2 24 | 19.2% | 8.5% |
| Q1 26 | $0.12 | — | ||
| Q4 25 | $0.09 | $1.82 | ||
| Q3 25 | $0.35 | $3.98 | ||
| Q2 25 | $0.53 | $4.52 | ||
| Q1 25 | $0.07 | $1.93 | ||
| Q4 24 | $0.50 | $2.42 | ||
| Q3 24 | $0.20 | $4.22 | ||
| Q2 24 | $0.43 | $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 | — | $733.3M |
| Total DebtLower is stronger | — | $361.6M |
| Stockholders' EquityBook value | $9.1B | $2.8B |
| Total Assets | $53.4B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $733.3M | ||
| Q3 25 | $1.6B | $524.3M | ||
| Q2 25 | $1.6B | $293.0M | ||
| Q1 25 | $1.5B | $431.8M | ||
| Q4 24 | $1.5B | $781.9M | ||
| Q3 24 | $1.6B | $550.0M | ||
| Q2 24 | $1.2B | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $35.4B | $361.6M | ||
| Q3 25 | $32.2B | $340.8M | ||
| Q2 25 | $31.2B | $338.7M | ||
| Q1 25 | $32.2B | $346.4M | ||
| Q4 24 | $32.6B | $337.2M | ||
| Q3 24 | $29.6B | $321.0M | ||
| Q2 24 | $30.1B | $307.1M |
| Q1 26 | $9.1B | — | ||
| Q4 25 | $8.4B | $2.8B | ||
| Q3 25 | $8.5B | $2.8B | ||
| Q2 25 | $7.9B | $2.8B | ||
| Q1 25 | $7.8B | $2.7B | ||
| Q4 24 | $7.8B | $2.7B | ||
| Q3 24 | $7.7B | $2.7B | ||
| Q2 24 | $7.3B | $2.6B |
| Q1 26 | $53.4B | — | ||
| Q4 25 | $53.1B | $4.4B | ||
| Q3 25 | $47.2B | $4.6B | ||
| Q2 25 | $44.3B | $4.7B | ||
| Q1 25 | $45.3B | $4.5B | ||
| Q4 24 | $46.0B | $4.5B | ||
| Q3 24 | $42.3B | $4.5B | ||
| Q2 24 | $42.0B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 4.20× | 0.13× | ||
| Q3 25 | 3.79× | 0.12× | ||
| Q2 25 | 3.92× | 0.12× | ||
| Q1 25 | 4.14× | 0.13× | ||
| Q4 24 | 4.18× | 0.13× | ||
| Q3 24 | 3.87× | 0.12× | ||
| Q2 24 | 4.10× | 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 | — | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-114.6M | $399.8M | ||
| Q3 25 | $-2.0B | $354.9M | ||
| Q2 25 | $-557.1M | $-7.4M | ||
| Q1 25 | $1.4B | $-177.6M | ||
| Q4 24 | $-1.8B | $378.9M | ||
| Q3 24 | $768.1M | $232.8M | ||
| Q2 24 | $-55.7M | $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 | -1.35× | 5.57× | ||
| Q3 25 | -9.22× | 2.20× | ||
| Q2 25 | -1.79× | -0.04× | ||
| Q1 25 | 18.03× | -2.22× | ||
| Q4 24 | -6.04× | 3.91× | ||
| Q3 24 | 6.31× | 1.36× | ||
| Q2 24 | -0.24× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
WSO
Segment breakdown not available.
