Waters Corporation

Waters Corporation

467.60
USD
+7.70
(+1.67%)
2.22EPS
168.98P/E
36.84BMarket Cap
Feb 17Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
22.29
23.58
24.8
26.83
28.94
31.43
35.59
38.09
45.24
49.54
50.04
49.86
53.19
- -
Basic EPS, GAAP
5.27
5.12
5.7
6.46
0.25
7.71
8.76
8.4
11.25
11.8
10.87
10.75
10.8
- -
Free Cash Flow per Basic Share
4.29
4.81
5.71
6.78
7.61
6.6
7.09
9.95
9.4
7.14
7.48
10.44
9.07
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
20.79
22.79
25.34
28.77
28.16
21.44
-3.46
3.73
6.05
8.54
19.44
30.79
43.01
- -
Tangible Book Value per Share
13.84
15.76
18.26
21.78
20.74
13.19
-12.98
-7.56
-5.15
-2.59
-13.25
-0.59
11.13
- -
Basic Weighted Avg Shares
85
84
82
81
80
77
68
62
62
60
59
59
60
85
Sales/Revenue/Turnover
1,904
1,989
2,042
2,167
2,309
2,420
2,407
2,365
2,786
2,972
2,956
2,958
3,165
- -
Operating Margin (%)
27.17
26.81
28.17
29
29.38
30.55
29.44
27.63
29.68
29.72
27.66
28.32
25.36
- -
Depreciation Expense
80
94
90
96
106
108
105
125
132
130
166
192
206
- -
Net Income, GAAP
450
432
469
522
20
594
592
522
693
708
642
638
643
- -
Effective Tax Rate (%)
8.18
12.05
13.45
13.1
96.83
12.95
12.69
14.62
14.06
15.53
12.77
15.5
14.87
- -
Profit Margin (%)
23.63
21.7
22.97
24.06
0.88
24.54
24.61
22.05
24.87
23.81
21.72
21.56
20.3
- -
Working Capital
2,069
2,237
2,649
3,115
3,664
2,214
721
596
948
978
963
879
908
- -
LT Debt
1,190
1,237
1,493
1,702
1,898
1,148
1,648
1,275
1,573
1,587
2,364
1,677
1,000
- -
Total Equity
1,763
1,895
2,059
2,302
2,234
1,567
-216
232
368
504
1,150
1,829
2,561
- -
Return on Invested Capital (%)
16.37
14.06
13.81
13.77
0.5
18.32
28.53
32.88
37.52
34.29
23.86
18.95
17.63
- -
Return on Capital (%)
16.67
14.33
14.13
14.27
0.53
18.31
29.7
34.74
40.04
36.21
25.29
20.04
18.51
- -
Return on Common Equity (%)
27.86
23.6
23.73
23.92
0.9
31.24
- -
- -
231.06
162.32
77.62
42.82
29.28
- -

Capital Structure

USD

•

in mil. unless spec.
Mar'26
Jun'26
Sep'26
ST Debt
413
251
- -
LT Borrowings
4,855
4,886
- -
LT Finance Leases
302
317
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
98
98
98
Market Capitalization
29,234
36,838
43,172

Working Capital

USD

•

in mil. unless spec.
Mar'26
Jun'26
Sep'26
Total Current Assets
4,064
4,465
- -
Cash, Cash Equivalents & STI
462
539
- -
Accounts Receivable, Net
1,753
1,987
- -
Inventories
1,496
1,377
- -
Total Current Liabilities
2,273
2,399
- -
Payables & Accruals
671
894
- -
ST Debt
413
251
- -
Deferred Revenue
520
495
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.95%
64.53%
40.07%
Free Cash Flow
3.25%
-0.37%
-12.88%
Net Income, GAAP
275.22%
5.16%
0.75%
Sales/Revenue/Turnover
4.62%
6.2%
6.99%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
637
709
740
873
2,958
2025
662
771
800
932
3,165
2026
1,267
1,645
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.73
2.41
2.72
3.9
10.75
2025
2.04
2.47
2.5
3.78
10.8
2026
-0.88
-1.38
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Udit Batra
Full Time Employees
7,900
Sector
Health technology
Industry
Medical specialties
Address
34 Maple Street Milford MA United States 01757
IPO Date
Nov 17, 1995
Website
waters.com
Business
Waters Corporation (NYSE: WAT), founded in 1958 and headquartered in Milford, Massachusetts, develops, manufactures, and markets analytical instruments, chromatography columns, and other consumables for the life sciences, pharmaceutical, biopharmaceutical, chemical, food, environmental, and clinical diagnostics industries worldwide. The company offers high-performance liquid chromatography (HPLC) and ultra-performance liquid chromatography (UPLC) systems such as the ACQUITY Premier and Alliance iS series; mass spectrometry instruments including the Xevo G3 QTof, Xevo TQ Absolute, SELECT SERIES MRT, and BioAccord LC-MS; gel permeation and size exclusion chromatography solutions; thermal analysis and rheology products through its TA Instruments division; light-scattering devices from Wyatt Technology; software platforms like Empower and waters_connect for data management and compliance; and related consumables, columns, detectors, and accessories used in drug discovery, development, manufacturing, food safety testing, environmental monitoring, and materials science applications across more than 100 countries with 12 manufacturing facilities and operations in 35 countries. Recent developments include the 2025 acquisition of Halo Labs to expand its biological analysis portfolio for advanced characterization in drug development; the July 2025 agreement to combine with BD's Biosciences and Diagnostic Solutions business in a $17.5 billion all-stock merger creating a leader in regulated life science and high-volume diagnostics testing; and the 2023 acquisition of Wyatt Technology enhancing its capabilities in macromolecular characterization and complex mixture analysis.

Company News

  • Jim Cramer Calls Big Tech ‘Millstones' and Names the ‘New Techs' Taking Over

  • Waters Q3 Earnings Call Highlights

  • Waters Q3 Earnings & Revenues Beat Estimates, 2026 Guidance Raised

  • Waters Corporation (WAT) Q3 2026 Earnings Call Transcript

  • Waters (WAT) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

  • Waters (WAT) Beats Q3 Earnings and Revenue Estimates

  • Waters Corporation (NYSE: WAT) Reports Third Quarter 2026 Financial Results

  • Waters Acquires MOBILion Systems, Bringing Advanced Ion-Mobility Separation to its Mass Spectrometry Portfolio with the Speed and Resolution AI Workflows Require for Proteomics Biomarker Discovery

  • Waters Gears Up to Report Q3 Results: How to Play the Stock?

  • Waters Launches AI-Powered Peak Integration Expanding its Suite of Premium AI Subscription Capabilities for Empower Software

  • Waters & Labcorp Expand Access to FDA-Approved HPV Screening Tests

  • First Eagle U.S. Value Fund Q3 2026 Portfolio Review

  • Waters and Labcorp to Expand Access to Cervical Cancer Screening with the Most Comprehensive FDA-Approved HPV Testing Option Beginning in Late 2026

  • Waters Launches AI Link to Advance AI-Enabled LC-MS Workflows

  • Waters Corporation and Quest Diagnostics Help Close Cervical Cancer Screening Gap Bringing Nationwide Access to the Most Comprehensive FDA-Cleared At-Home HPV Screening Option

  • Two stocks poised to benefit from rotation out of AI

  • Waters Launches AI Link, Advancing AI-Enabled LC-MS Workflows from Research to Release

  • Here's Why You Should Retain WAT Stock in Your Portfolio for Now

  • Waters (NYSE:WAT) Reaches New 52-Week High – Time to Buy?

  • Waters Corporation Schedules Third Quarter 2026 Earnings Conference Call