Waters/$WAT
Waters shares rise after Q3 earnings beat expectations and the company raised its FY26 revenue and adjusted EPS guidance.
17 hours agoLightyear AI
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Capital at risk
About Waters
Waters 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. In early 2026, Waters merged with Becton Dickinson's life science and diagnostics business, which increased its concentration in diagnostics and discovery-related life science tools.
- Ticker
- $WAT
- Sector
- Health
- Primary listing
- NYSE
- Employees
- 7,900
- Headquarters
- Milford, United States
- Website
- www.waters.com
Waters Metrics
BasicAdvanced
$45B
397.58
$1.16
1.15
-
Price and volume
Market cap
$45B
Beta
1.15
52-week high
$482.28
52-week low
$282.77
Average daily volume
961K
Financial strength
Long term debt to equity
0.336
Total debt to equity
0.336
Interest coverage (TTM)
2.92%
Profitability
EBITDA (TTM)
1,407.048
Gross margin (TTM)
49.83%
Net profit margin (TTM)
1.76%
Operating margin (TTM)
9.75%
Effective tax rate (TTM)
10.24%
Revenue per employee (TTM)
$710,000
Management effectiveness
Return on assets (TTM)
2.36%
Return on equity (TTM)
1.12%
Valuation
Price to earnings (TTM)
397.585
Price to revenue (TTM)
6.923
Price to book
2.96
Price to tangible book (TTM)
-19.2
Price to free cash flow (TTM)
133.553
Free cash flow yield (TTM)
0.75%
Free cash flow per share (TTM)
3.444
Growth
Revenue change (TTM)
80.65%
Earnings per share change (TTM)
-89.36%
3-year revenue growth (CAGR)
23.27%
10-year revenue growth (CAGR)
10.19%
3-year earnings per share growth (CAGR)
-52.80%
10-year earnings per share growth (CAGR)
-15.32%
What the Analysts think about Waters
Analyst ratings (Buy, Hold, Sell) for Waters stock.
Analyst projections of the future price of Waters stock.
Bulls say / Bears say
Third-quarter organic revenue grew 10% in constant currency, led by double-digit instrument and chemistry growth. Waters raised its 2026 organic growth outlook to 9.1%–9.7% and adjusted EPS outlook to $14.60–$14.70. (Waters)
The BD businesses are showing signs of a stronger turnaround: Waters said integration and synergy delivery were ahead of schedule, and raised its expected 2026 revenue from the acquired businesses. That could make the enlarged company’s growth less dependent on its legacy instruments business. (Waters)
LC-MS instrument growth reached double digits, helped by replacement demand and adoption of new products, while the MOBILion acquisition adds technology that could extend Waters’ reach into proteomics. These offer product-led growth opportunities beyond the current instrument cycle. (Waters)
The acquired businesses grew only 1% on a comparable basis in the third quarter, while the Diagnostic Solutions business was nearly flat. This raises the risk that the large acquisition will take longer to deliver stronger growth. (Waters)
Acquisition accounting and restructuring costs are weighing heavily on reported earnings: third-quarter GAAP EPS was $0.82, down from $2.50 a year earlier, despite adjusted EPS growth. The gap makes the near-term reported profit picture much weaker than adjusted results suggest. (Waters)
The BD transaction increased debt to about $5.1 billion and involved issuing 38.5 million shares, leaving former BD shareholders with roughly 39% of Waters. The higher debt burden and dilution raise the bar for the deal’s expected returns. (StockTitan)
Data summarised monthly by Lightyear AI. Last updated on 3 Nov 2026.
Waters Financial Performance
Revenues and expenses
Waters Earnings Performance
Company profitability
Upcoming events
No upcoming events
Waters News
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Business Wire2 months ago
Funds containing Waters
AllUSDEURGBP
Fund name | Fund size | $WAT weighting |
|---|---|---|
iShares MSCI World Health Care Sector Advanced£WHCA | $362M | 0.80% |
iShares MSCI World Health Care Sector Advanced€CBUF | $683M | 0.80% |
Invesco Health Care S&P US Select Sector$XLVS | $552M | 0.70% |
Invesco Health Care S&P US Select Sector£XLVP | $552M | 0.70% |
iShares S&P 500 Health Care Sector€IUHE | €125M | 0.66% |
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