Watsco Inc Class A

WSO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$627.00	Mhbqxrz	Thvstqxgc

Rebounding HVAC Demand, Regulatory Tailwinds, and M&A Support Solid Growth Outlook for Watsco

Brian Bernard

Feb 13, 2024

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 (about 90% of sales) with an outsize presence in the Sunbelt states.

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