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Waters Corp (WAT)

Price$335.61

Favorite Metrics

Price vs S&P 500 (26W)-9.72%
Price vs S&P 500 (4W)0.13%
Market Capitalization$32.22B
P/E Ratio (Annual)50.14x

All Metrics

P/CF (Annual)49.38x
Book Value / Share (Quarterly)$43.01
P/TBV (Annual)11.29x
Revenue Growth (3Y)2.12%
Cash Flow / Share (Quarterly)$9.06
Price vs S&P 500 (YTD)-17.84%
Gross Margin (TTM)59.28%
Net Profit Margin (TTM)20.30%
EPS (TTM)$10.76
10-Day Avg Trading Volume0.77M
EPS Excl Extra (TTM)$10.76
Revenue Growth (5Y)6.00%
EPS (Annual)$10.76
ROI (Annual)16.19%
Gross Margin (Annual)59.22%
Net Profit Margin (5Y Avg)22.45%
Cash / Share (Quarterly)$9.87
P/E Basic Excl Extra (TTM)50.14x
Revenue Growth QoQ (YoY)6.83%
EPS Growth (5Y)5.19%
P/E Normalized (Annual)50.14x
ROA (Last FY)12.66%
Revenue Growth TTM (YoY)6.99%
EBITD / Share (TTM)$14.29
ROE (5Y Avg)88.92%
Operating Margin (TTM)25.36%
Cash Flow / Share (Annual)$9.06
P/B Ratio12.58x
P/B Ratio (Quarterly)8.83x
Net Income / Employee (Annual)$0
EV / Revenue (TTM)10.44x
Net Interest Coverage (TTM)16.45x
ROA (TTM)13.35%
EPS Growth QoQ (YoY)-2.77%
EV / EBITDA (TTM)38.72x
EPS Incl Extra (Annual)$10.76
Current Ratio (Annual)1.73x
Quick Ratio (Quarterly)1.27x
3-Month Avg Trading Volume0.95M
52-Week Price Return2.08%
EV / Free Cash Flow (Annual)61.21x
P/E Incl Extra (TTM)50.14x
Revenue / Employee (TTM)$0
Tangible BV / Share (Quarterly)$33.64
P/S Ratio (Annual)10.18x
Asset Turnover (Annual)0.62x
52-Week High$414.15
Operating Margin (5Y Avg)27.97%
EPS Excl Extra (Annual)$10.76
CapEx CAGR (5Y)-8.14%
Tangible BV CAGR (5Y)8.69%
26-Week Price Return-0.98%
Quick Ratio (Annual)1.27x
13-Week Price Return-16.64%
Total Debt / Equity (Annual)0.55x
Current Ratio (Quarterly)1.73x
Enterprise Value$33,043.624
Revenue / Share Growth (5Y)6.94%
Asset Turnover (TTM)0.66x
Book Value / Share Growth (5Y)63.11%
Revenue / Employee (Annual)$0
Inventory Turnover (Annual)2.46x
Pretax Margin (Annual)23.85%
Cash / Share (Annual)$9.87
3-Month Return Std Dev39.51%
Gross Margin (5Y Avg)58.99%
Net Income / Employee (TTM)$0
EBITDA CAGR (5Y)5.31%
EBITDA Interim CAGR (5Y)1.32%
ROE (Last FY)25.09%
Net Interest Coverage (Annual)15.87x
EPS Basic Excl Extra (Annual)$10.76
P/FCF (TTM)59.70x
Receivables Turnover (TTM)4.05x
EV / Free Cash Flow (TTM)61.21x
Total Debt / Equity (Quarterly)0.55x
EPS Incl Extra (TTM)$10.76
Receivables Turnover (Annual)4.05x
ROI (TTM)17.44%
P/S Ratio (TTM)10.18x
Pretax Margin (5Y Avg)26.28%
Revenue / Share (Annual)$53.01
Tangible BV / Share (Annual)$33.64
Forward P/E23.19x
Free OCF CAGR (5Y)-2.67%
Price vs S&P 500 (52W)-33.02%
P/E Ratio (TTM)50.14x
EPS Growth TTM (YoY)0.51%
Year-to-Date Return-13.71%
5-Day Price Return0.95%
EPS Normalized (Annual)$10.76
ROA (5Y Avg)16.90%
Net Profit Margin (Annual)20.30%
Month-to-Date Return10.06%
Cash Flow / Share (TTM)$13.53
EBITD / Share (Annual)$14.26
EPS Growth (3Y)-2.83%
Operating Margin (Annual)25.36%
LT Debt / Equity (Annual)0.37x
P/CF (TTM)49.38x
ROI (5Y Avg)24.77%
P/E Excl Extra (TTM)50.14x
LT Debt / Equity (Quarterly)0.37x
EPS Basic Excl Extra (TTM)$10.76
P/TBV (Quarterly)11.29x
P/B Ratio (Annual)8.83x
Inventory Turnover (TTM)2.46x
Pretax Margin (TTM)23.85%
Book Value / Share (Annual)$43.01
Price vs S&P 500 (13W)-19.51%
Net Margin Growth (5Y)-1.64%
Beta1.21x
P/FCF (Annual)59.70x
Revenue / Share (TTM)$52.88
ROE (TTM)28.52%
52-Week Low$275.05

Analyst Recommendations

Jan 2026
Feb 2026
Mar 2026
Apr 2026
3.73
3.84
3.86
3.86

Industry Peers — Lab Analytical Instruments(22)

SymbolP/S Ratio (TTM)Revenue Growth (5Y)Gross Margin (TTM)Operating Margin (TTM)Price
WATWaters Corp
10.18x6.00%59.28%25.36%$335.61
AAgilent Technologies Inc.
4.83x5.41%52.60%20.40%$120.96
MTDMettler-Toledo International
6.66x5.47%59.37%26.05%$1324.66
ILMNIllumina Inc
4.69x6.04%66.61%18.44%$132.86
RVTYRevvity, Inc.
3.64x-5.46%54.77%12.49%$93.03
BIOBio-Rad Laboratories, Inc.Class A
3.17x0.29%52.01%1.59%$303.34
BIO.BBio-Rad Laboratories, Inc. Class B
3.17x0.29%52.01%1.59%$277.00
BRKRBruker Corporation
1.81x11.57%47.13%1.40%$41.10
BRKRPBruker Corporation 6.375% Mandatory Convertible Preferred Stock, Series A
1.81x11.57%47.13%1.40%$320.13
AVTRAvantor, Inc.
0.88x0.49%32.65%-3.83%$8.50
TXG10x Genomics, Inc. Class A Common Stock
5.18x16.56%69.13%-9.49%$24.59

About

Waters manufactures analytical instruments including liquid chromatography, mass spectrometry, and thermal analysis systems. The company served biopharmaceutical (58%), industrial (31%), and academic/government (11%) customers in 2024. Waters has announced a merger with BD's life science and diagnostics business expected in early 2026, which will add diagnostics capabilities and expand its life sciences product portfolio.