WSO vs. GAIN

Last updated Apr 1, 2026

Compare and contrast key facts about Watsco, Inc. (WSO) and Gladstone Investment Corporation (GAIN).

Performance

WSO vs. GAIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Watsco, Inc. (WSO) and Gladstone Investment Corporation (GAIN). The values are adjusted to include any dividend payments, if applicable.

WSO vs. GAIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WSO Watsco, Inc.	8.82%	-27.02%	13.22%	77.00%	-17.74%	42.09%	30.57%	34.99%	-15.54%	18.36%
GAIN Gladstone Investment Corporation	3.42%	17.11%	5.33%	31.01%	-17.55%	82.14%	-16.56%	53.31%	-9.67%	44.63%

Fundamentals

Market Cap WSO : $13.80B GAIN : $563.43M
EPS WSO : $13.84 GAIN : $1.68
PE Ratio WSO : 26.28 GAIN : 8.45
PEG Ratio WSO : 5.11 GAIN : 0.19
PS Ratio WSO : 1.90 GAIN : 4.93
PB Ratio WSO : 4.28 GAIN : 0.95
Total Revenue (TTM) WSO : $7.24B GAIN : $110.43M
Gross Profit (TTM) WSO : $2.06B GAIN : $60.00M
EBITDA (TTM) WSO : $751.61M GAIN : $64.46M

Returns By Period

In the year-to-date period, WSO achieves a 8.82% return, which is significantly higher than GAIN's 3.42% return. Over the past 10 years, WSO has underperformed GAIN with an annualized return of 14.03%, while GAIN has yielded a comparatively higher 18.49% annualized return.

WSO

• 1D: 4.26%
• 1M: -12.83%
• YTD: 8.82%
• 6M: -8.54%
• 1Y: -26.36%
• 3Y*: 7.34%
• 5Y*: 9.38%
• 10Y*: 14.03%

GAIN

• 1D: 0.35%
• 1M: 4.32%
• YTD: 3.42%
• 6M: 6.37%
• 1Y: 18.02%
• 3Y*: 16.28%
• 5Y*: 14.72%
• 10Y*: 18.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

WSO vs. GAIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WSO

WSO Risk / Return Rank: 14
WSO Sharpe Ratio Rank: 9
WSO Sortino Ratio Rank: 12
WSO Omega Ratio Rank: 13
WSO Calmar Ratio Rank: 18
WSO Martin Ratio Rank: 20

GAIN

GAIN Risk / Return Rank: 70
GAIN Sharpe Ratio Rank: 72
GAIN Sortino Ratio Rank: 68
GAIN Omega Ratio Rank: 67
GAIN Calmar Ratio Rank: 68
GAIN Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WSO vs. GAIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Watsco, Inc. (WSO) and Gladstone Investment Corporation (GAIN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	WSO	GAIN	Difference
Sharpe ratio Return per unit of total volatility	-0.79	0.84	-1.63
Sortino ratio Return per unit of downside risk	-0.98	1.44	-2.41
Omega ratio Gain probability vs. loss probability	0.88	1.19	-0.31
Calmar ratio Return relative to maximum drawdown	-0.70	1.23	-1.92
Martin ratio Return relative to average drawdown	-1.15	5.23	-6.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WSO vs. GAIN - Sharpe Ratio Comparison

The current WSO Sharpe Ratio is -0.79, which is lower than the GAIN Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of WSO and GAIN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WSO	GAIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.79	0.84	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.68	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.73	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.24	+0.23

Correlation

The correlation between WSO and GAIN is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

WSO vs. GAIN - Dividend Comparison

WSO's dividend yield for the trailing twelve months is around 3.30%, less than GAIN's 10.56% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WSO Watsco, Inc.	3.30%	3.47%	2.23%	2.29%	3.43%	2.44%	3.06%	3.55%	4.02%	2.71%	2.43%	2.39%
GAIN Gladstone Investment Corporation	10.56%	10.74%	12.53%	17.24%	9.88%	6.06%	9.22%	7.06%	9.24%	7.94%	8.87%	9.68%

Drawdowns

WSO vs. GAIN - Drawdown Comparison

The maximum WSO drawdown since its inception was -64.30%, smaller than the maximum GAIN drawdown of -80.87%. Use the drawdown chart below to compare losses from any high point for WSO and GAIN.

Drawdown Indicators

	WSO	GAIN	Difference
Max Drawdown Largest peak-to-trough decline	-64.30%	-80.87%	+16.57%
Max Drawdown (1Y) Largest decline over 1 year	-36.57%	-13.01%	-23.56%
Max Drawdown (5Y) Largest decline over 5 years	-41.62%	-26.26%	-15.36%
Max Drawdown (10Y) Largest decline over 10 years	-41.62%	-56.28%	+14.66%
Current Drawdown Current decline from peak	-33.83%	-1.24%	-32.59%
Average Drawdown Average peak-to-trough decline	-18.02%	-16.03%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.10%	3.05%	+19.05%

Volatility

WSO vs. GAIN - Volatility Comparison

Watsco, Inc. (WSO) has a higher volatility of 11.77% compared to Gladstone Investment Corporation (GAIN) at 7.41%. This indicates that WSO's price experiences larger fluctuations and is considered to be riskier than GAIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WSO	GAIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	7.41%	+4.36%
Volatility (6M) Calculated over the trailing 6-month period	23.57%	12.15%	+11.42%
Volatility (1Y) Calculated over the trailing 1-year period	33.39%	21.66%	+11.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.78%	21.94%	+7.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.51%	25.41%	+2.10%

Financials

WSO vs. GAIN - Profitability Comparison

The chart below illustrates the profitability comparison between Watsco, Inc. and Gladstone Investment Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WSO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Watsco, Inc. reported a gross profit of 428.44M and revenue of 1.58B. Therefore, the gross margin over that period was 27.1%.

GAIN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Gladstone Investment Corporation reported a gross profit of 0.00 and revenue of 22.84M. Therefore, the gross margin over that period was 0.0%.

WSO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Watsco, Inc. reported an operating income of 101.53M and revenue of 1.58B, resulting in an operating margin of 6.4%.

GAIN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Gladstone Investment Corporation reported an operating income of 0.00 and revenue of 22.84M, resulting in an operating margin of 0.0%.

WSO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Watsco, Inc. reported a net income of 71.75M and revenue of 1.58B, resulting in a net margin of 4.5%.

GAIN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Gladstone Investment Corporation reported a net income of 0.00 and revenue of 22.84M, resulting in a net margin of 0.0%.