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Side-by-side financial comparison of VALMONT INDUSTRIES INC (VMI) 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 $1.0B, roughly 1.5× VALMONT INDUSTRIES INC). VALMONT INDUSTRIES INC runs the higher net margin — 10.5% vs 4.5%, a 6.0% gap on every dollar of revenue. On growth, VALMONT INDUSTRIES INC posted the faster year-over-year revenue change (6.2% vs -10.0%). Over the past eight quarters, WATSCO INC's revenue compounded faster (0.4% CAGR vs -0.5%).
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
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.
VMI vs WSO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.6B |
| Net Profit | $108.0M | $71.7M |
| Gross Margin | 30.8% | 27.1% |
| Operating Margin | 15.1% | 6.4% |
| Net Margin | 10.5% | 4.5% |
| Revenue YoY | 6.2% | -10.0% |
| Net Profit YoY | 23.8% | -25.9% |
| EPS (diluted) | $5.51 | $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 | $1.0B | — | ||
| Q4 25 | $1.0B | $1.6B | ||
| Q3 25 | $1.0B | $2.1B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $969.3M | $1.5B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.0B | $2.2B | ||
| Q2 24 | $1.0B | $2.1B |
| Q1 26 | $108.0M | — | ||
| Q4 25 | $168.0M | $71.7M | ||
| Q3 25 | $99.0M | $161.6M | ||
| Q2 25 | $-4.0M | $183.6M | ||
| Q1 25 | $87.3M | $80.1M | ||
| Q4 24 | $77.7M | $96.8M | ||
| Q3 24 | $83.1M | $171.0M | ||
| Q2 24 | $99.7M | $181.4M |
| Q1 26 | 30.8% | — | ||
| Q4 25 | 29.8% | 27.1% | ||
| Q3 25 | 30.4% | 27.5% | ||
| Q2 25 | 30.6% | 29.3% | ||
| Q1 25 | 30.0% | 28.1% | ||
| Q4 24 | 30.2% | 26.7% | ||
| Q3 24 | 29.6% | 26.2% | ||
| Q2 24 | 30.8% | 27.1% |
| Q1 26 | 15.1% | — | ||
| Q4 25 | 11.2% | 6.4% | ||
| Q3 25 | 13.5% | 11.4% | ||
| Q2 25 | 2.8% | 13.2% | ||
| Q1 25 | 13.2% | 7.3% | ||
| Q4 24 | 11.6% | 7.8% | ||
| Q3 24 | 12.3% | 11.6% | ||
| Q2 24 | 14.2% | 12.6% |
| Q1 26 | 10.5% | — | ||
| Q4 25 | 16.2% | 4.5% | ||
| Q3 25 | 9.5% | 7.8% | ||
| Q2 25 | -0.4% | 8.9% | ||
| Q1 25 | 9.0% | 5.2% | ||
| Q4 24 | 7.5% | 5.5% | ||
| Q3 24 | 8.1% | 7.9% | ||
| Q2 24 | 9.6% | 8.5% |
| Q1 26 | $5.51 | — | ||
| Q4 25 | $9.02 | $1.82 | ||
| Q3 25 | $4.98 | $3.98 | ||
| Q2 25 | $-1.53 | $4.52 | ||
| Q1 25 | $4.32 | $1.93 | ||
| Q4 24 | $3.85 | $2.42 | ||
| Q3 24 | $4.11 | $4.22 | ||
| Q2 24 | $4.91 | $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 | $160.2M | $733.3M |
| Total DebtLower is stronger | — | $361.6M |
| Stockholders' EquityBook value | $1.7B | $2.8B |
| Total Assets | $3.4B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $160.2M | — | ||
| Q4 25 | $187.1M | $733.3M | ||
| Q3 25 | $226.1M | $524.3M | ||
| Q2 25 | $208.5M | $293.0M | ||
| Q1 25 | $184.4M | $431.8M | ||
| Q4 24 | $164.3M | $781.9M | ||
| Q3 24 | $200.5M | $550.0M | ||
| Q2 24 | $163.1M | $424.9M |
| Q1 26 | — | — | ||
| Q4 25 | $795.7M | $361.6M | ||
| Q3 25 | — | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | — | $346.4M | ||
| Q4 24 | $730.6M | $337.2M | ||
| Q3 24 | — | $321.0M | ||
| Q2 24 | — | $307.1M |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.6B | $2.8B | ||
| Q3 25 | $1.6B | $2.8B | ||
| Q2 25 | $1.5B | $2.8B | ||
| Q1 25 | $1.6B | $2.7B | ||
| Q4 24 | $1.5B | $2.7B | ||
| Q3 24 | $1.5B | $2.7B | ||
| Q2 24 | $1.5B | $2.6B |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $4.4B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $3.3B | $4.7B | ||
| Q1 25 | $3.4B | $4.5B | ||
| Q4 24 | $3.3B | $4.5B | ||
| Q3 24 | $3.5B | $4.5B | ||
| Q2 24 | $3.5B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | 0.49× | 0.13× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | 0.47× | 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 | — | $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 | $111.2M | $399.8M | ||
| Q3 25 | $112.5M | $354.9M | ||
| Q2 25 | $167.6M | $-7.4M | ||
| Q1 25 | $65.1M | $-177.6M | ||
| Q4 24 | $193.4M | $378.9M | ||
| Q3 24 | $225.1M | $232.8M | ||
| Q2 24 | $130.8M | $57.7M |
| Q1 26 | — | — | ||
| Q4 25 | $70.4M | $388.5M | ||
| Q3 25 | $70.6M | $346.1M | ||
| Q2 25 | $135.6M | $-14.3M | ||
| Q1 25 | $34.8M | $-185.2M | ||
| Q4 24 | $167.8M | $370.9M | ||
| Q3 24 | $204.6M | $223.0M | ||
| Q2 24 | $112.5M | $51.3M |
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | 24.6% | ||
| Q3 25 | 6.7% | 16.7% | ||
| Q2 25 | 12.9% | -0.7% | ||
| Q1 25 | 3.6% | -12.1% | ||
| Q4 24 | 16.2% | 21.1% | ||
| Q3 24 | 20.1% | 10.3% | ||
| Q2 24 | 10.8% | 2.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.7% | ||
| Q3 25 | 4.0% | 0.4% | ||
| Q2 25 | 3.0% | 0.3% | ||
| Q1 25 | 3.1% | 0.5% | ||
| Q4 24 | 2.5% | 0.5% | ||
| Q3 24 | 2.0% | 0.5% | ||
| Q2 24 | 1.8% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 5.57× | ||
| Q3 25 | 1.14× | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | 0.75× | -2.22× | ||
| Q4 24 | 2.49× | 3.91× | ||
| Q3 24 | 2.71× | 1.36× | ||
| Q2 24 | 1.31× | 0.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
WSO
Segment breakdown not available.
