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
$18B
26.65
$11.09
1.05
-
Price and volume
Market cap
$18B
Beta
1.05
52-week high
$423.56
52-week low
$275.05
Average daily volume
684K
Financial strength
Current ratio
1.754
Quick ratio
1.08
Long term debt to equity
60.491
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)
26.647
Price to revenue (TTM)
5.763
Price to book
8.14
Price to tangible book (TTM)
72.41
Price to free cash flow (TTM)
28.343
Free cash flow yield (TTM)
3.53%
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 raised the lower end of its 2025 profit forecast after Q2 revenue grew 9% YoY to $771.3 million with adjusted EPS of $2.95 beating estimates, reflecting robust demand from biotechnology clients (Reuters).
The planned merger with BD’s Biosciences & Diagnostic Solutions unit will double Waters’ total addressable market to approximately $40 billion, expanding its opportunity set in high-growth life sciences and diagnostics markets (Reuters).
The transaction is expected to increase annual recurring revenue to over 70% of pro forma revenue, enhancing cash flow predictability and smoothing capital purchasing cycles (BD Investor Site).
The Reverse Morris Trust deal adds significant integration complexity, introducing execution risk that could delay the realization of $345 million in annualized EBITDA synergies (Reuters Breakingviews).
Waters will assume about $4 billion of incremental debt, pushing the combined company’s net-debt-to-adjusted-EBITDA leverage to roughly 2.3x at closing and potentially constraining financial flexibility (Reuters Breakingviews).
The deal increases exposure to U.S. government research funding cuts, as nearly 45% of BD’s unit revenue in 2024 came from biosciences that rely on basic research grants (Reuters Breakingviews).
Data summarised monthly by Lightyear AI. Last updated on 4 Sept 2025.
Waters Financial Performance
Revenues and expenses
Waters Earnings Performance
Company profitability
Waters News
AllArticlesVideos
WATERS CORPORATION INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Merger of Waters Corporation - WAT
Business Wire2 months ago
Top Stock Movers Now: Autodesk, Fortinet, Waters, and More
Investopedia2 months ago
Waters and BD Biosciences & Diagnostic Solutions announce $17.5B merger
Proactive Investors2 months ago
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Capital at risk
Upcoming events
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FAQs
What’s the current market cap for Waters stock?
Waters (WAT) has a market cap of $18B as of September 15, 2025.
What is the P/E ratio for Waters stock?
The price to earnings (P/E) ratio for Waters (WAT) stock is 26.65 as of September 15, 2025.
Does Waters stock pay dividends?
No, Waters (WAT) stock does not pay dividends to its shareholders as of September 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 1.05. 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.