Watsco
WSO · Trading Companies & Distributors
$322.98
1.2%ZIM Integrated Shipping
ZIM · Marine Transportation
$29.35
0.9%The short version
- Watsco is the larger business, with $7.2B of revenue in fiscal 2025 against $6.9B for ZIM Integrated Shipping.
- Watsco grew revenue faster (−5.0%, against −18.1%).
- ZIM Integrated Shipping kept more of each dollar of sales as operating profit (14.7% operating margin, against 10.0% operating margin).
- ZIM Integrated Shipping turned more of its sales into free cash flow (30.2% FCF margin, against 7.4% FCF margin).
- ZIM Integrated Shipping earned a higher return on the capital invested in it (24.9%, against 20.1%).
| Latest fiscal year | WSO · FY25 | ZIM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.3B | $3.5B |
| Revenue | $7.2B | $6.9B |
| Free cash flow | $535M | $2.1B |
| Net income | $497M | $479M |
| Growth | ||
| Revenue growth | −5.0% | −18.1% |
| 5-year growth | 7.5% | 11.6% |
| Share count change | 1.0% | 0.0% |
| Profitability | ||
| Gross margin | 28.1% | 19.1% |
| Operating margin | 10.0% | 14.7% |
| Net margin | 6.9% | 6.9% |
| FCF margin | 7.4% | 30.2% |
| Return on capital | 20.1% | 24.9% |
| Return on equity | 18.3% | 11.9% |
| Balance sheet | ||
| Net debt | −$255M | −$930M |
| Net debt / EBITDA | −0.3x | −0.4x |
| Dividends and buybacks | $474M | $516M |
| Valuation & quality | ||
| P/E | 27.8x | — |
| Piotroski F-score | 6 | 4 |
FY16
WSO $4.2B
ZIM —
FY17
WSO $4.3B
ZIM —
FY18
WSO $4.5B
ZIM $3.2B
FY19
WSO $4.8B
ZIM $3.3B
FY20
WSO $5.1B
ZIM $4.0B
FY21
WSO $6.3B
ZIM $10.7B
FY22
WSO $7.3B
ZIM $12.6B
FY23
WSO $7.3B
ZIM $5.2B
FY24
WSO $7.6B
ZIM $8.4B
FY25
WSO $7.2B
ZIM $6.9B
WSO
ZIM
FY16
WSO 8.2%
ZIM —
FY17
WSO 8.2%
ZIM —
FY18
WSO 8.2%
ZIM −0.7%
FY19
WSO 7.7%
ZIM 4.6%
FY20
WSO 7.9%
ZIM 18.1%
FY21
WSO 10.0%
ZIM 54.2%
FY22
WSO 11.4%
ZIM 48.9%
FY23
WSO 10.9%
ZIM −48.6%
FY24
WSO 10.3%
ZIM 30.0%
FY25
WSO 10.0%
ZIM 14.7%
WSO
ZIM
FY16
WSO $238M
ZIM —
FY17
WSO $289M
ZIM —
FY18
WSO $153M
ZIM $202M
FY19
WSO $318M
ZIM $354M
FY20
WSO $518M
ZIM $838M
FY21
WSO $324M
ZIM $5.0B
FY22
WSO $536M
ZIM $5.8B
FY23
WSO $526M
ZIM $904M
FY24
WSO $743M
ZIM $3.5B
FY25
WSO $535M
ZIM $2.1B
WSO
ZIM
FY16
WSO 16.8%
ZIM —
FY17
WSO 17.9%
ZIM —
FY18
WSO 19.0%
ZIM —
FY19
WSO 16.3%
ZIM —
FY20
WSO 16.8%
ZIM 229.8%
FY21
WSO 24.4%
ZIM 260.4%
FY22
WSO 30.1%
ZIM 111.9%
FY23
WSO 24.3%
ZIM −58.3%
FY24
WSO 22.4%
ZIM 108.3%
FY25
WSO 20.1%
ZIM 24.9%
WSO
ZIM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.