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Side-by-side financial comparison of Construction Partners, Inc. (ROAD) 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 $809.5M, roughly 1.9× Construction Partners, Inc.). WATSCO INC runs the higher net margin — 6.1% vs 2.1%, a 3.9% gap on every dollar of revenue. On growth, Construction Partners, Inc. posted the faster year-over-year revenue change (44.1% vs 0.1%). Over the past eight quarters, Construction Partners, Inc.'s revenue compounded faster (47.6% CAGR vs -15.3%).
Alexander Construction Company was a Palm Springs, California, residential development company that built over 2,200 houses in the Coachella Valley of Riverside County, California, between 1955 and 1965.
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.
ROAD vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $809.5M | $1.5B |
| Net Profit | $17.2M | $92.9M |
| Gross Margin | 15.0% | 27.9% |
| Operating Margin | 6.2% | 7.2% |
| Net Margin | 2.1% | 6.1% |
| Revenue YoY | 44.1% | 0.1% |
| Net Profit YoY | 663.9% | -1.7% |
| EPS (diluted) | $0.31 | — |
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 | $809.5M | $1.6B | ||
| Q3 25 | $899.8M | $2.1B | ||
| Q2 25 | $779.3M | $2.1B | ||
| Q1 25 | $571.6M | $1.5B | ||
| Q4 24 | $561.6M | $1.8B | ||
| Q3 24 | $538.2M | $2.2B | ||
| Q2 24 | $517.8M | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $17.2M | $71.7M | ||
| Q3 25 | $56.6M | $161.6M | ||
| Q2 25 | $44.0M | $183.6M | ||
| Q1 25 | $4.2M | $80.1M | ||
| Q4 24 | $-3.1M | $96.8M | ||
| Q3 24 | $29.3M | $171.0M | ||
| Q2 24 | $30.9M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | 15.0% | 27.1% | ||
| Q3 25 | 17.7% | 27.5% | ||
| Q2 25 | 16.9% | 29.3% | ||
| Q1 25 | 12.5% | 28.1% | ||
| Q4 24 | 13.6% | 26.7% | ||
| Q3 24 | 15.6% | 26.2% | ||
| Q2 24 | 16.1% | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 6.2% | 6.4% | ||
| Q3 25 | 11.2% | 11.4% | ||
| Q2 25 | 10.6% | 13.2% | ||
| Q1 25 | 4.8% | 7.3% | ||
| Q4 24 | 2.5% | 7.8% | ||
| Q3 24 | 8.5% | 11.6% | ||
| Q2 24 | 8.8% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 2.1% | 4.5% | ||
| Q3 25 | 6.3% | 7.8% | ||
| Q2 25 | 5.7% | 8.9% | ||
| Q1 25 | 0.7% | 5.2% | ||
| Q4 24 | -0.5% | 5.5% | ||
| Q3 24 | 5.4% | 7.9% | ||
| Q2 24 | 6.0% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.31 | $1.82 | ||
| Q3 25 | $1.03 | $3.98 | ||
| Q2 25 | $0.79 | $4.52 | ||
| Q1 25 | $0.08 | $1.93 | ||
| Q4 24 | $-0.06 | $2.42 | ||
| Q3 24 | $0.55 | $4.22 | ||
| Q2 24 | $0.59 | $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 | $104.1M | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $969.1M | $3.2B |
| Total Assets | $3.4B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $104.1M | $733.3M | ||
| Q3 25 | $156.1M | $524.3M | ||
| Q2 25 | $114.3M | $293.0M | ||
| Q1 25 | $101.9M | $431.8M | ||
| Q4 24 | $132.5M | $781.9M | ||
| Q3 24 | $74.7M | $550.0M | ||
| Q2 24 | $56.3M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $361.6M | ||
| Q3 25 | $1.6B | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | — | $337.2M | ||
| Q3 24 | $515.0M | $321.0M | ||
| Q2 24 | — | $307.1M |
| Q1 26 | — | $3.2B | ||
| Q4 25 | $969.1M | $2.8B | ||
| Q3 25 | $912.0M | $2.8B | ||
| Q2 25 | $853.3M | $2.8B | ||
| Q1 25 | $807.9M | $2.7B | ||
| Q4 24 | $811.1M | $2.7B | ||
| Q3 24 | $573.7M | $2.7B | ||
| Q2 24 | $552.9M | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $3.4B | $4.4B | ||
| Q3 25 | $3.2B | $4.6B | ||
| Q2 25 | $2.9B | $4.7B | ||
| Q1 25 | $2.8B | $4.5B | ||
| Q4 24 | $2.6B | $4.5B | ||
| Q3 24 | $1.5B | $4.5B | ||
| Q2 24 | $1.4B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | 1.78× | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.13× | ||
| Q3 24 | 0.90× | 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 | $82.6M | — |
| Free Cash FlowOCF − Capex | $47.1M | — |
| FCF MarginFCF / Revenue | 5.8% | — |
| Capex IntensityCapex / Revenue | 4.4% | — |
| Cash ConversionOCF / Net Profit | 4.80× | — |
| TTM Free Cash FlowTrailing 4 quarters | $186.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $82.6M | $399.8M | ||
| Q3 25 | $112.0M | $354.9M | ||
| Q2 25 | $83.0M | $-7.4M | ||
| Q1 25 | $55.6M | $-177.6M | ||
| Q4 24 | $40.7M | $378.9M | ||
| Q3 24 | $95.9M | $232.8M | ||
| Q2 24 | $34.6M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $47.1M | $388.5M | ||
| Q3 25 | $78.9M | $346.1M | ||
| Q2 25 | $46.4M | $-14.3M | ||
| Q1 25 | $14.2M | $-185.2M | ||
| Q4 24 | $13.8M | $370.9M | ||
| Q3 24 | $78.4M | $223.0M | ||
| Q2 24 | $19.7M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 24.6% | ||
| Q3 25 | 8.8% | 16.7% | ||
| Q2 25 | 5.9% | -0.7% | ||
| Q1 25 | 2.5% | -12.1% | ||
| Q4 24 | 2.5% | 21.1% | ||
| Q3 24 | 14.6% | 10.3% | ||
| Q2 24 | 3.8% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.4% | 0.7% | ||
| Q3 25 | 3.7% | 0.4% | ||
| Q2 25 | 4.7% | 0.3% | ||
| Q1 25 | 7.2% | 0.5% | ||
| Q4 24 | 4.8% | 0.5% | ||
| Q3 24 | 3.3% | 0.5% | ||
| Q2 24 | 2.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.80× | 5.57× | ||
| Q3 25 | 1.98× | 2.20× | ||
| Q2 25 | 1.88× | -0.04× | ||
| Q1 25 | 13.20× | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 3.27× | 1.36× | ||
| Q2 24 | 1.12× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
