Watsco Inc Class A

WSO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$471.00	Flttw	Wrjrkxjkpq

Watsco Can Outperform Slowing HVAC Market, but We're Still Skeptical on Long-Term Margin Potential

Brian Bernard

Apr 21, 2023

Business Strategy and Outlook

Watsco is the largest player in the fragmented heating, ventilation, air-conditioning, and refrigeration distribution industry with a mid- to high-teens percentage market share. The company mostly operates in the United States (approximately 90% of sales) with an outsize presence in the Sunbelt states.

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