DXP Enterprises vs Watsco
Watsco reported revenue of $7.2 billion in fiscal 2025, 3.6 times DXP Enterprises' $2.0 billion in fiscal 2025. DXP Enterprises' revenue grew 11.9% in its latest year, and Watsco's fell 5.0%. DXP Enterprises had an operating margin of 8.8%, against 9.9% at Watsco. Free cash flow was $54 million at DXP Enterprises and $535 million at Watsco.
Side by side
| DXP Enterprises | Watsco | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $2.0B | $7.2B |
| Revenue growth | 11.9% | −5.0% |
| Revenue growth a year, last 5 years | 14.9% | 7.4% |
| Gross margin | 31.5% | 28.1% |
| Operating margin | 8.8% | 9.9% |
| Net margin | 4.4% | 6.9% |
| Free cash flow | $54M | $535M |
| Free cash flow margin | 2.7% | 7.4% |
| Return on capital | 13.4% | 20.1% |
| Net debt to EBITDA | 2.6x | −0.3x |
| Dividends and buybacks | $17M | $474M |
| Change in diluted share count | −1.2% | 1.0% |
| Last close | $140.68 | $304.34 |
| P/E at the last close | 23.4× | 26.7× |
| Insider trades, last 12 months | sold $3.7 million | — |
| Piotroski F-score | 7 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
DXP EnterprisesWatsco
Operating margin
Percent of revenue
DXP EnterprisesWatsco
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
DXP EnterprisesWatsco
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the DXP Enterprises and Watsco pages.