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Side-by-side financial comparison of StoneX Group Inc. (SNEX) 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× StoneX Group Inc.). StoneX Group Inc. runs the higher net margin — 11.6% vs 6.1%, a 5.5% gap on every dollar of revenue. On growth, StoneX Group Inc. posted the faster year-over-year revenue change (81.0% vs 0.1%). Over the past eight quarters, StoneX Group Inc.'s revenue compounded faster (53.5% CAGR vs -15.3%).
StoneX Group Inc. is an American financial services company. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES).
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.
SNEX vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.5B |
| Net Profit | $139.0M | $92.9M |
| Gross Margin | — | 27.9% |
| Operating Margin | 15.4% | 7.2% |
| Net Margin | 11.6% | 6.1% |
| Revenue YoY | 81.0% | 0.1% |
| Net Profit YoY | 63.3% | -1.7% |
| EPS (diluted) | $2.50 | — |
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 | $1.2B | $1.6B | ||
| Q3 25 | $32.7B | $2.1B | ||
| Q2 25 | $851.2M | $2.1B | ||
| Q1 25 | $820.4M | $1.5B | ||
| Q4 24 | $663.1M | $1.8B | ||
| Q3 24 | $31.1B | $2.2B | ||
| Q2 24 | $571.8M | $2.1B |
| Q1 26 | — | $92.9M | ||
| Q4 25 | $139.0M | $71.7M | ||
| Q3 25 | $85.7M | $161.6M | ||
| Q2 25 | $63.4M | $183.6M | ||
| Q1 25 | $71.7M | $80.1M | ||
| Q4 24 | $85.1M | $96.8M | ||
| Q3 24 | $76.7M | $171.0M | ||
| Q2 24 | $61.9M | $181.4M |
| Q1 26 | — | 27.9% | ||
| Q4 25 | — | 27.1% | ||
| Q3 25 | 3.7% | 27.5% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 28.1% | ||
| Q4 24 | — | 26.7% | ||
| Q3 24 | 3.0% | 26.2% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | 7.2% | ||
| Q4 25 | 15.4% | 6.4% | ||
| Q3 25 | 0.3% | 11.4% | ||
| Q2 25 | -1.3% | 13.2% | ||
| Q1 25 | -1.0% | 7.3% | ||
| Q4 24 | -3.2% | 7.8% | ||
| Q3 24 | -0.0% | 11.6% | ||
| Q2 24 | -4.7% | 12.6% |
| Q1 26 | — | 6.1% | ||
| Q4 25 | 11.6% | 4.5% | ||
| Q3 25 | 0.3% | 7.8% | ||
| Q2 25 | 7.4% | 8.9% | ||
| Q1 25 | 8.7% | 5.2% | ||
| Q4 24 | 12.8% | 5.5% | ||
| Q3 24 | 0.2% | 7.9% | ||
| Q2 24 | 10.8% | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | $2.50 | $1.82 | ||
| Q3 25 | $0.72 | $3.98 | ||
| Q2 25 | $1.22 | $4.52 | ||
| Q1 25 | $1.41 | $1.93 | ||
| Q4 24 | $1.69 | $2.42 | ||
| Q3 24 | $2.32 | $4.22 | ||
| Q2 24 | $1.25 | $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 | $1.6B | $392.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | $3.2B |
| Total Assets | $47.8B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $392.7M | ||
| Q4 25 | $1.6B | $733.3M | ||
| Q3 25 | $1.6B | $524.3M | ||
| Q2 25 | $1.3B | $293.0M | ||
| Q1 25 | $1.3B | $431.8M | ||
| Q4 24 | $1.4B | $781.9M | ||
| Q3 24 | $1.3B | $550.0M | ||
| Q2 24 | $1.2B | $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 | $2.5B | $2.8B | ||
| Q3 25 | $2.4B | $2.8B | ||
| Q2 25 | $2.0B | $2.8B | ||
| Q1 25 | $1.9B | $2.7B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.7B | $2.7B | ||
| Q2 24 | $1.6B | $2.6B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $47.8B | $4.4B | ||
| Q3 25 | $45.3B | $4.6B | ||
| Q2 25 | $34.3B | $4.7B | ||
| Q1 25 | $31.3B | $4.5B | ||
| Q4 24 | $29.6B | $4.5B | ||
| Q3 24 | $27.5B | $4.5B | ||
| Q2 24 | $25.9B | $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 | $-1.3B | — |
| Free Cash FlowOCF − Capex | $-1.3B | — |
| FCF MarginFCF / Revenue | -106.4% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | -9.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-1.3B | $399.8M | ||
| Q3 25 | $3.5B | $354.9M | ||
| Q2 25 | $1.5B | $-7.4M | ||
| Q1 25 | $-154.5M | $-177.6M | ||
| Q4 24 | $-477.8M | $378.9M | ||
| Q3 24 | $192.6M | $232.8M | ||
| Q2 24 | $-622.1M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.3B | $388.5M | ||
| Q3 25 | $3.5B | $346.1M | ||
| Q2 25 | $1.5B | $-14.3M | ||
| Q1 25 | $-169.8M | $-185.2M | ||
| Q4 24 | $-491.4M | $370.9M | ||
| Q3 24 | $175.9M | $223.0M | ||
| Q2 24 | $-640.5M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | -106.4% | 24.6% | ||
| Q3 25 | 10.7% | 16.7% | ||
| Q2 25 | 173.3% | -0.7% | ||
| Q1 25 | -20.7% | -12.1% | ||
| Q4 24 | -74.1% | 21.1% | ||
| Q3 24 | 0.6% | 10.3% | ||
| Q2 24 | -112.0% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 0.7% | ||
| Q3 25 | 0.1% | 0.4% | ||
| Q2 25 | 1.9% | 0.3% | ||
| Q1 25 | 1.9% | 0.5% | ||
| Q4 24 | 2.1% | 0.5% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 3.2% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | -9.08× | 5.57× | ||
| Q3 25 | 41.18× | 2.20× | ||
| Q2 25 | 23.52× | -0.04× | ||
| Q1 25 | -2.15× | -2.22× | ||
| Q4 24 | -5.61× | 3.91× | ||
| Q3 24 | 2.51× | 1.36× | ||
| Q2 24 | -10.05× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
