Watsco Inc Class A

WSO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$211.00	Qzmsgb	Vxfhwhfsm

We Think Watsco's Record-Setting Financial Performance Will Begin to Moderate in 2023

Brian Bernard

Oct 20, 2022

Business Strategy and Outlook

Watsco is the largest player in the fragmented heating, ventilation, air-conditioning, and refrigeration distribution industry with low-double-digit percentage market share. The company predominantly operates in the United States (approximately 90% of revenue) with an outsize presence in the Sunbelt states.

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