vs
Side-by-side financial comparison of Teradyne (TER) 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 $1.3B, roughly 1.2× Teradyne). Teradyne runs the higher net margin — 31.1% vs 6.1%, a 25.0% gap on every dollar of revenue. On growth, Teradyne posted the faster year-over-year revenue change (87.0% vs 0.1%). Over the past eight quarters, Teradyne's revenue compounded faster (32.6% CAGR vs -15.3%).
Teradyne, Inc. is an American automatic test equipment (ATE) designer and manufacturer based in North Reading, Massachusetts. Its high-profile customers include Samsung, Qualcomm, Intel, Analog Devices, Texas Instruments and IBM.
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.
TER vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.5B |
| Net Profit | $398.9M | $92.9M |
| Gross Margin | 60.9% | 27.9% |
| Operating Margin | 36.9% | 7.2% |
| Net Margin | 31.1% | 6.1% |
| Revenue YoY | 87.0% | 0.1% |
| Net Profit YoY | — | -1.7% |
| EPS (diluted) | $2.53 | — |
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 | $1.3B | $1.5B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $769.2M | $2.1B | ||
| Q2 25 | $651.8M | $2.1B | ||
| Q1 25 | $685.7M | $1.5B | ||
| Q4 24 | $752.9M | $1.8B | ||
| Q3 24 | $737.3M | $2.2B | ||
| Q2 24 | $729.9M | $2.1B |
| Q1 26 | $398.9M | $92.9M | ||
| Q4 25 | $257.2M | $71.7M | ||
| Q3 25 | $119.6M | $161.6M | ||
| Q2 25 | $78.4M | $183.6M | ||
| Q1 25 | $98.9M | $80.1M | ||
| Q4 24 | $146.3M | $96.8M | ||
| Q3 24 | $145.6M | $171.0M | ||
| Q2 24 | $186.3M | $181.4M |
| Q1 26 | 60.9% | 27.9% | ||
| Q4 25 | 57.2% | 27.1% | ||
| Q3 25 | 58.4% | 27.5% | ||
| Q2 25 | 57.2% | 29.3% | ||
| Q1 25 | 60.6% | 28.1% | ||
| Q4 24 | 59.4% | 26.7% | ||
| Q3 24 | 59.2% | 26.2% | ||
| Q2 24 | 58.3% | 27.1% |
| Q1 26 | 36.9% | 7.2% | ||
| Q4 25 | 27.1% | 6.4% | ||
| Q3 25 | 18.9% | 11.4% | ||
| Q2 25 | 13.9% | 13.2% | ||
| Q1 25 | 17.6% | 7.3% | ||
| Q4 24 | 20.4% | 7.8% | ||
| Q3 24 | 20.6% | 11.6% | ||
| Q2 24 | 28.8% | 12.6% |
| Q1 26 | 31.1% | 6.1% | ||
| Q4 25 | 23.7% | 4.5% | ||
| Q3 25 | 15.5% | 7.8% | ||
| Q2 25 | 12.0% | 8.9% | ||
| Q1 25 | 14.4% | 5.2% | ||
| Q4 24 | 19.4% | 5.5% | ||
| Q3 24 | 19.8% | 7.9% | ||
| Q2 24 | 25.5% | 8.5% |
| Q1 26 | $2.53 | — | ||
| Q4 25 | $1.62 | $1.82 | ||
| Q3 25 | $0.75 | $3.98 | ||
| Q2 25 | $0.49 | $4.52 | ||
| Q1 25 | $0.61 | $1.93 | ||
| Q4 24 | $0.89 | $2.42 | ||
| Q3 24 | $0.89 | $4.22 | ||
| Q2 24 | $1.14 | $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 | $241.9M | $392.7M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | — | $3.2B |
| Total Assets | $4.4B | $4.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $241.9M | $392.7M | ||
| Q4 25 | $293.8M | $733.3M | ||
| Q3 25 | $272.7M | $524.3M | ||
| Q2 25 | $339.3M | $293.0M | ||
| Q1 25 | $475.6M | $431.8M | ||
| Q4 24 | $553.4M | $781.9M | ||
| Q3 24 | $510.0M | $550.0M | ||
| Q2 24 | $421.9M | $424.9M |
| Q1 26 | $0 | — | ||
| 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 | $2.8B | $2.8B | ||
| Q3 25 | $2.7B | $2.8B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $2.8B | $2.7B | ||
| Q4 24 | $2.8B | $2.7B | ||
| Q3 24 | $2.9B | $2.7B | ||
| Q2 24 | $2.7B | $2.6B |
| Q1 26 | $4.4B | $4.6B | ||
| Q4 25 | $4.2B | $4.4B | ||
| Q3 25 | $4.0B | $4.6B | ||
| Q2 25 | $3.8B | $4.7B | ||
| Q1 25 | $3.7B | $4.5B | ||
| Q4 24 | $3.7B | $4.5B | ||
| Q3 24 | $3.8B | $4.5B | ||
| Q2 24 | $3.6B | $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 | $265.1M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.66× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $265.1M | — | ||
| Q4 25 | $281.6M | $399.8M | ||
| Q3 25 | $49.0M | $354.9M | ||
| Q2 25 | $182.1M | $-7.4M | ||
| Q1 25 | $161.6M | $-177.6M | ||
| Q4 24 | $282.6M | $378.9M | ||
| Q3 24 | $166.3M | $232.8M | ||
| Q2 24 | $216.1M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | $388.5M | ||
| Q3 25 | $2.4M | $346.1M | ||
| Q2 25 | $131.7M | $-14.3M | ||
| Q1 25 | $97.6M | $-185.2M | ||
| Q4 24 | $225.2M | $370.9M | ||
| Q3 24 | $114.4M | $223.0M | ||
| Q2 24 | $171.2M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 24.6% | ||
| Q3 25 | 0.3% | 16.7% | ||
| Q2 25 | 20.2% | -0.7% | ||
| Q1 25 | 14.2% | -12.1% | ||
| Q4 24 | 29.9% | 21.1% | ||
| Q3 24 | 15.5% | 10.3% | ||
| Q2 24 | 23.5% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 0.7% | ||
| Q3 25 | 6.1% | 0.4% | ||
| Q2 25 | 7.7% | 0.3% | ||
| Q1 25 | 9.3% | 0.5% | ||
| Q4 24 | 7.6% | 0.5% | ||
| Q3 24 | 7.0% | 0.5% | ||
| Q2 24 | 6.1% | 0.3% |
| Q1 26 | 0.66× | — | ||
| Q4 25 | 1.09× | 5.57× | ||
| Q3 25 | 0.41× | 2.20× | ||
| Q2 25 | 2.32× | -0.04× | ||
| Q1 25 | 1.63× | -2.22× | ||
| Q4 24 | 1.93× | 3.91× | ||
| Q3 24 | 1.14× | 1.36× | ||
| Q2 24 | 1.16× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
