• Watsco average pre-tax profit margin for 2023 was 11.13%, a 0.54% decline from 2022.
• Watsco average pre-tax profit margin for 2022 was 11.19%, a 19.68% decline from 2021.
• Watsco average pre-tax profit margin for 2021 was 9.35%, a 24.5% increase from 2020.

Pre-tax profit margin can be defined as earnings before taxes as a portion of total revenue.