Wesco International
WCC · NYSEWholesale-Electrical Apparatus & Equipment, Wiring Supplies · Fiscal year ends Dec 31
Wesco International reported revenue of $23.5B in the fiscal year ended Dec 2025, up 7.8% from the year before. Operating income was $1.2B, an operating margin of 5.2%, and net income was $640M. Operating cash flow of $125M less capital expenditure of $100M left free cash flow of $25M. Net debt was $5.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $18.2B | $21.4B | $22.4B | $21.8B | $23.5B |
| Cost of revenue | $14.4B | $16.8B | $17.5B | $17.1B | $18.5B |
| Gross profit | $3.8B | $4.7B | $4.8B | $4.7B | $5B |
| Selling, general & admin | $2.8B | $3B | $3.3B | $3.3B | $3.5B |
| Operating income | $802M | $1.4B | $1.4B | $1.2B | $1.2B |
| Pre-tax income | $582M | $1.1B | $992M | $951M | $856M |
| Income tax | $116M | $275M | $226M | $232M | $213M |
| Net income | $465M | $861M | $766M | $718M | $640M |
| Diluted EPS | 7.84 | 15.33 | 13.54 | 13.05 | 13.05 |
| Diluted shares | 52M | 52M | 52M | 51M | 50M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $213M | $527M | $524M | $703M | $605M |
| Receivables | $3B | $3.7B | $3.6B | $3.5B | $4.1B |
| Inventory | $2.7B | $3.5B | $3.6B | $3.5B | $4B |
| Current assets | $6.4B | $8.3B | $8.4B | $8.4B | $9.5B |
| Net PP&E | $379M | $403M | $424M | $443M | $467M |
| Goodwill | $3.2B | $3.2B | $3.3B | $3.3B | $3.3B |
| Total assets | $12.6B | $14.8B | $15.1B | $15.1B | $16.5B |
| Payables | $2.1B | $2.7B | $2.4B | $2.7B | $3B |
| Deferred revenue | – | – | – | $142M | $151M |
| Current liabilities | $3B | $3.8B | $3.4B | $3.8B | $4.3B |
| Short-term debt | $10M | $71M | $9M | $20M | $25M |
| Long-term debt | $4.7B | $5.3B | $5.3B | $5B | $5.8B |
| Total liabilities | $8.8B | $10.4B | $10B | $10.1B | $11.5B |
| Shareholders' equity | $3.8B | $4.5B | $5B | $5B | $5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $67M | $11M | $493M | $1.1B | $125M |
| Capital expenditure | $55M | $99M | $92M | $95M | $100M |
| Free cash flow | $12M | −$88M | $401M | $1B | $25M |
| Depreciation & amortisation | $199M | $179M | $181M | $183M | $198M |
| Stock-based compensation | $31M | $46M | $48M | $29M | $41M |
| Acquisitions | $0 | $187M | $0 | $221M | $36M |
| Share buybacks | $0 | $11M | $75M | $425M | $75M |
| Dividends paid | $0 | $0 | $77M | $82M | $88M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 17.6% | 4.5% | −2.5% | 7.8% |
| Operating income growth (YoY) | – | 79.3% | −2.2% | −13.0% | 0.8% |
| EPS growth (YoY) | – | 95.5% | −11.7% | −3.6% | 0.0% |
| Gross margin | 20.8% | 21.8% | 21.6% | 21.6% | 21.1% |
| Operating margin | 4.4% | 6.7% | 6.3% | 5.6% | 5.2% |
| Net margin | 2.6% | 4.0% | 3.4% | 3.3% | 2.7% |
| Return on equityBlank when equity is negative | 12.3% | 19.3% | 15.2% | 14.4% | 12.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.4% | 13.1% | 12.0% | 10.9% | 10.1% |
| Free cash flow margin | 0.1% | −0.4% | 1.8% | 4.6% | 0.1% |
| Cash conversion (CFO ÷ net income) | 0.14x | 0.01x | 0.64x | 1.53x | 0.20x |
| Receivable days | 59 | 62 | 59 | 58 | 63 |
| Inventory days | 67 | 76 | 74 | 75 | 79 |
| Payable days | 54 | 59 | 51 | 57 | 60 |
| Debt ÷ equity | 1.25x | 1.22x | 1.06x | 1.02x | 1.15x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $4.5B | $4.9B | $4.8B | $4.4B | $5.2B |
| Current ratio | 2.08x | 2.18x | 2.48x | 2.20x | 2.20x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.