{"contract": "sm-investment-case-1", "found": true, "available": true, "as_of": "2026-09-11", "checked_on": "2026-09-17", "listing": {"uuid": "92bae8a1-0d4f-45f7-96d0-80dea17aa8cf", "symbol": "WSO", "name": "Watsco Inc", "exchange": "NYSE", "country": "US", "sector": "Industrials", "industry": "Industrial Distribution"}, "business_type": "Operating company", "price": {"value": 314.22, "currency": "USD", "as_of": "2026-09-11", "basis": "Completed weekly quoted close; before dividends"}, "assessment": {"available": false, "rating": "Not rated", "target_price": null, "target_date": null, "price_change_to_target_pct": null, "currency": "USD", "reviewed_on": "2026-09-15", "explanation": "A target is not published until the required checks pass. Recorded cash-flow, investment, debt, cash, preferred stock, minority interests and share-count inputs are required; missing amounts are not assumed to be zero. Missing: interest expense (trailing twelve months).", "assumptions": []}, "review": {"status": "Review needed", "last_checked": "2026-09-15T19:17:11.101681+00:00", "next_scheduled": "2026-12-14", "published_at": "2026-09-15T19:17:11.101681+00:00", "environment": "live", "publication_url": "https://sharemaestro.com/investment-case/record/1032/"}, "business_view": {"headline": "A higher valuation comes with stronger profitability.", "summary": "More cash remains for each dollar of profit, but year-to-date profit is lower.", "case_for": [{"headline": "More cash remains for each dollar of profit", "explanation": "Cash after capital spending / profit: 1.5\u00d7 for WSO, against 1.0\u00d7 across 10 comparable peers.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/#ic-peer-measures"}, {"headline": "Borrowing is lower relative to earnings", "explanation": "Net debt / EBITDA: 0.2\u00d7 for WSO, against 2.6\u00d7 across 12 comparable peers.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/#ic-peer-measures"}], "case_against": [{"headline": "Year-to-date profit is lower", "explanation": "Across 2 completed quarters since 2025-12-31, net income was 242.4m versus 263.7m in the matching prior-year periods (USD). Check whether the latest quarter changes that direction.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/#ic-quarter-profit"}, {"headline": "Quarterly profit fell", "explanation": "Net income was 163.3m, compared with 183.6m in the same quarter last year. Amounts are in USD.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/#ic-quarter-profit"}]}, "watch_points": [], "financial_period": "2026-06-30", "next_results": "2026-11-04", "data_notes": ["Financial totals have been checked against their reporting periods. Only matching twelve-month figures are used; unsupported measures remain blank.", "A required data check failed. Review the data and model checks before using a valuation.", "Analyst forecast history is not yet available. Earnings-release history and reported financial results are shown where recorded."], "canonical_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/", "pdf_url": "https://sharemaestro.com/investment-case/ticker/92bae8a1-0d4f-45f7-96d0-80dea17aa8cf/download.pdf", "limitations": ["The published assessment stays fixed between governed reviews. Scenarios edited in the browser do not change it.", "Each financial period and price date is separate. Company coverage varies.", "Targets exclude dividends, fees and tax. A missing target is unavailable, not zero.", "Preview assessments are identified and do not establish a live performance record."], "disclaimer": "Automated model research, not personal investment advice. Targets depend on assumptions; returns are not guaranteed.", "revision": "506134550a5ffe792ba90611a3ff23394182df94fbbb1d9884666a6777d213b1"}