WATSCO, INC.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.34B | $4.22B | $4.11B | $3.94B | $3.74B | $3.43B | $2.98B | $2.84B |
| Cost of Revenue | $3.28B | $3.19B | $3.11B | $2.99B | $2.84B | $2.62B | $2.25B | $2.17B |
| Gross Profit | $1.07B | $1.03B | $1.01B | $956.4M | $899.3M | $814.4M | $728.3M | $673.2M |
| Gross Margin | 24.5% | 24.5% | 24.5% | 24.2% | 24.0% | 23.7% | 24.5% | 23.7% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $715.7M | $689.0M | $670.6M | $650.7M | $628.0M | $589.5M | $529.2M | $507.7M |
| Operating Income | $353.9M | $345.6M | $336.7M | $305.7M | $271.2M | $224.9M | $199.1M | $165.6M |
| Operating Margin | 8.2% | 8.2% | 8.2% | 7.8% | 7.2% | 6.6% | 6.7% | 5.8% |
| Interest Expense | — | — | $5.5M | $5.2M | $5.8M | $4.7M | $4.5M | $3.5M |
| Pretax Income | $347.5M | $341.9M | $331.2M | $300.5M | $265.4M | $220.2M | $194.6M | $162.1M |
| Income Tax Expense | $90.2M | $105.9M | $104.7M | $91.8M | $77.7M | $62.6M | $56.9M | $50.4M |
| Net Income | $208.2M | $182.8M | $172.9M | $151.4M | $127.7M | $103.3M | $90.5M | $80.8M |
| Net Margin | 4.8% | 4.3% | 4.2% | 3.8% | 3.4% | 3.0% | 3.0% | 2.8% |
| EPS (Basic) | $5.81 | $5.16 | $4.91 | $4.33 | $3.69 | $2.70 | $2.75 | $2.49 |
| EPS (Diluted) | $5.81 | $5.15 | $4.90 | $4.32 | $3.68 | $2.70 | $2.74 | $2.49 |
| Shares Outstanding (Basic) | 32.8M | 32.6M | 32.4M | 32.3M | 32.2M | 31.7M | 30.7M | 30.5M |
| Shares Outstanding (Diluted) | 32.9M | 32.6M | 32.5M | 32.4M | 32.3M | 31.7M | 30.8M | 30.6M |
| Dividends Per Share | $4.60 | $3.60 | $2.80 | $2.00 | $1.15 | $7.48 | $2.23 | $2.04 |