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Side-by-side financial comparison of SS&C Technologies Holdings Inc (SSNC) and WATSCO INC (WSO). Click either name above to swap in a different company.
SS&C Technologies Holdings Inc is the larger business by last-quarter revenue ($1.6B vs $1.6B, roughly 1.0× WATSCO INC). SS&C Technologies Holdings Inc runs the higher net margin — 13.7% vs 4.5%, a 9.2% gap on every dollar of revenue. On growth, SS&C Technologies Holdings Inc posted the faster year-over-year revenue change (8.8% vs -10.0%). Over the past eight quarters, SS&C Technologies Holdings Inc's revenue compounded faster (6.5% CAGR vs 0.4%).
SS&C Technologies Holdings, Inc. is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.
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.
SSNC vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.6B |
| Net Profit | $226.1M | $71.7M |
| Gross Margin | 48.7% | 27.1% |
| Operating Margin | 24.2% | 6.4% |
| Net Margin | 13.7% | 4.5% |
| Revenue YoY | 8.8% | -10.0% |
| Net Profit YoY | 6.2% | -25.9% |
| EPS (diluted) | $0.91 | $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 | $1.6B | — | ||
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.6B | $2.1B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.5B | $2.1B |
| Q1 26 | $226.1M | — | ||
| Q4 25 | $193.1M | $71.7M | ||
| Q3 25 | $210.0M | $161.6M | ||
| Q2 25 | $180.8M | $183.6M | ||
| Q1 25 | $213.0M | $80.1M | ||
| Q4 24 | $248.2M | $96.8M | ||
| Q3 24 | $164.4M | $171.0M | ||
| Q2 24 | $190.3M | $181.4M |
| Q1 26 | 48.7% | — | ||
| Q4 25 | 47.8% | 27.1% | ||
| Q3 25 | 47.7% | 27.5% | ||
| Q2 25 | 48.0% | 29.3% | ||
| Q1 25 | 49.3% | 28.1% | ||
| Q4 24 | 49.3% | 26.7% | ||
| Q3 24 | 48.0% | 26.2% | ||
| Q2 24 | 48.1% | 27.1% |
| Q1 26 | 24.2% | — | ||
| Q4 25 | 22.3% | 6.4% | ||
| Q3 25 | 23.3% | 11.4% | ||
| Q2 25 | 22.4% | 13.2% | ||
| Q1 25 | 23.6% | 7.3% | ||
| Q4 24 | 23.4% | 7.8% | ||
| Q3 24 | 22.2% | 11.6% | ||
| Q2 24 | 22.6% | 12.6% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 11.7% | 4.5% | ||
| Q3 25 | 13.4% | 7.8% | ||
| Q2 25 | 11.8% | 8.9% | ||
| Q1 25 | 14.1% | 5.2% | ||
| Q4 24 | 16.2% | 5.5% | ||
| Q3 24 | 11.2% | 7.9% | ||
| Q2 24 | 13.1% | 8.5% |
| Q1 26 | $0.91 | — | ||
| Q4 25 | $0.76 | $1.82 | ||
| Q3 25 | $0.83 | $3.98 | ||
| Q2 25 | $0.72 | $4.52 | ||
| Q1 25 | $0.84 | $1.93 | ||
| Q4 24 | $0.98 | $2.42 | ||
| Q3 24 | $0.65 | $4.22 | ||
| Q2 24 | $0.75 | $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 | $420.9M | $733.3M |
| Total DebtLower is stronger | $7.4B | $361.6M |
| Stockholders' EquityBook value | $6.9B | $2.8B |
| Total Assets | $20.3B | $4.4B |
| Debt / EquityLower = less leverage | 1.08× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $420.9M | — | ||
| Q4 25 | $462.1M | $733.3M | ||
| Q3 25 | $388.3M | $524.3M | ||
| Q2 25 | $480.3M | $293.0M | ||
| Q1 25 | $515.0M | $431.8M | ||
| Q4 24 | $567.1M | $781.9M | ||
| Q3 24 | $694.7M | $550.0M | ||
| Q2 24 | $462.7M | $424.9M |
| Q1 26 | $7.4B | — | ||
| 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 | $6.9B | — | ||
| Q4 25 | $6.9B | $2.8B | ||
| Q3 25 | $6.9B | $2.8B | ||
| Q2 25 | $6.9B | $2.8B | ||
| Q1 25 | $6.8B | $2.7B | ||
| Q4 24 | $6.5B | $2.7B | ||
| Q3 24 | $6.8B | $2.7B | ||
| Q2 24 | $6.4B | $2.6B |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.7B | $4.4B | ||
| Q3 25 | $19.5B | $4.6B | ||
| Q2 25 | $19.0B | $4.7B | ||
| Q1 25 | $20.4B | $4.5B | ||
| Q4 24 | $19.0B | $4.5B | ||
| Q3 24 | $18.4B | $4.5B | ||
| Q2 24 | $16.9B | $4.4B |
| Q1 26 | 1.08× | — | ||
| 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 | $299.7M | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.33× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $299.7M | — | ||
| Q4 25 | $643.5M | $399.8M | ||
| Q3 25 | $456.2M | $354.9M | ||
| Q2 25 | $372.9M | $-7.4M | ||
| Q1 25 | $272.2M | $-177.6M | ||
| Q4 24 | $486.6M | $378.9M | ||
| Q3 24 | $336.6M | $232.8M | ||
| Q2 24 | $384.9M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $633.0M | $388.5M | ||
| Q3 25 | $421.5M | $346.1M | ||
| Q2 25 | $350.0M | $-14.3M | ||
| Q1 25 | $259.5M | $-185.2M | ||
| Q4 24 | $466.9M | $370.9M | ||
| Q3 24 | $310.7M | $223.0M | ||
| Q2 24 | $374.9M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 38.3% | 24.6% | ||
| Q3 25 | 26.9% | 16.7% | ||
| Q2 25 | 22.8% | -0.7% | ||
| Q1 25 | 17.1% | -12.1% | ||
| Q4 24 | 30.5% | 21.1% | ||
| Q3 24 | 21.2% | 10.3% | ||
| Q2 24 | 25.8% | 2.4% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 0.6% | 0.7% | ||
| Q3 25 | 2.2% | 0.4% | ||
| Q2 25 | 1.5% | 0.3% | ||
| Q1 25 | 0.8% | 0.5% | ||
| Q4 24 | 1.3% | 0.5% | ||
| Q3 24 | 1.8% | 0.5% | ||
| Q2 24 | 0.7% | 0.3% |
| Q1 26 | 1.33× | — | ||
| Q4 25 | 3.33× | 5.57× | ||
| Q3 25 | 2.17× | 2.20× | ||
| Q2 25 | 2.06× | -0.04× | ||
| Q1 25 | 1.28× | -2.22× | ||
| Q4 24 | 1.96× | 3.91× | ||
| Q3 24 | 2.05× | 1.36× | ||
| Q2 24 | 2.02× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SSNC
| Technology-enabled services | $1.4B | 85% |
| License, maintenance and related | $239.8M | 15% |
WSO
Segment breakdown not available.
