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

Waters Metrics

BasicAdvanced
$20B
29.62
$11.09
1.04
-

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
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Waters Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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