Waters/$WAT
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About Waters
Water sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. As a percentage of sales in 2024, Waters generated 58% from biopharmaceutical customers, 31% from industrial clients, and 11% from academic/government institutions. In early 2026, Waters plans to merge with BD's life science and diagnostics business, which will substantially change those concentrations. Waters will wind up with more concentration in diagnostics (versus none now) and discovery-related life science tools.
Ticker
$WAT
Sector
Primary listing
NYSE
Employees
7,600
Headquarters
Website
Waters Metrics
BasicAdvanced
$20B
30.05
$11.09
1.04
-
Price and volume
Market cap
$20B
Beta
1.04
52-week high
$423.56
52-week low
$275.05
Average daily volume
734K
Financial strength
Current ratio
1.754
Quick ratio
1.08
Long term debt to equity
67.458
Total debt to equity
67.458
Interest coverage (TTM)
12.43%
Profitability
EBITDA (TTM)
1,055.442
Gross margin (TTM)
59.02%
Net profit margin (TTM)
21.71%
Operating margin (TTM)
27.45%
Effective tax rate (TTM)
16.40%
Revenue per employee (TTM)
$400,000
Management effectiveness
Return on assets (TTM)
11.40%
Return on equity (TTM)
37.03%
Valuation
Price to earnings (TTM)
30.053
Price to revenue (TTM)
6.5
Price to book
9.18
Price to tangible book (TTM)
81.67
Price to free cash flow (TTM)
31.966
Free cash flow yield (TTM)
3.13%
Free cash flow per share (TTM)
10.422
Growth
Revenue change (TTM)
5.89%
Earnings per share change (TTM)
10.77%
3-year revenue growth (CAGR)
1.64%
10-year revenue growth (CAGR)
4.13%
3-year earnings per share growth (CAGR)
-1.17%
10-year earnings per share growth (CAGR)
7.18%
What the Analysts think about Waters
Analyst ratings (Buy, Hold, Sell) for Waters stock.
Bulls say / Bears say
Waters posted Q2 2025 revenue of $771.3 million, a 9% increase that surpassed Street forecasts and led management to raise the lower end of full-year adjusted EPS guidance to $12.95 (Reuters)
The planned merger with BD’s Biosciences & Diagnostics division will double Waters’ total addressable market to $40 billion and strengthen its recurring revenue streams through expanded bioseparations and diagnostic offerings (Reuters)
Management attributed the upward revision in guidance partly to growth vectors such as GLP-1 analysis, PFAS testing, and generics, highlighting rapid uptake of new products in high-growth areas (Reuters)
Academic & Government sales declined 3% in Q2 2025 on a constant-currency basis, reflecting persistent funding volatility and potential headwinds from proposed research budget cuts (Reuters)
Analysts warn the $17.5 billion merger with BD’s Biosciences & Diagnostics arm is a high-priced deal with a weaker business that could face complex integration challenges, raising execution risk (Reuters)
Waters’ stock dropped 5.8% on the BD merger announcement, signaling investor skepticism over dilution and the near-term accretion of the reverse Morris Trust structure (Reuters)
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 2025.
Waters Financial Performance
Revenues and expenses
Waters Earnings Performance
Company profitability
Waters News
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Upcoming events
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FAQs
What’s the current market cap for Waters stock?
Waters (WAT) has a market cap of $20B as of October 15, 2025.
What is the P/E ratio for Waters stock?
The price to earnings (P/E) ratio for Waters (WAT) stock is 30.05 as of October 15, 2025.
Does Waters stock pay dividends?
No, Waters (WAT) stock does not pay dividends to its shareholders as of October 15, 2025.
When is the next Waters dividend payment date?
Waters (WAT) stock does not pay dividends to its shareholders.
What is the beta indicator for Waters?
Waters (WAT) has a beta rating of 1.04. This means that it is more volatile than the market, on average. A beta of 1 would indicate the stock moves in-line with the market, while a beta of 2 would indicate the stock moves twice as much as the market.