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Friday 6 November 2026
Export WAT’s income statement to Excel — free account
Waters Corporation
WAT Healthcare Diagnostics & Research
Waters Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 6.99% from fiscal 2024.
- Revenue
- +120.9%
- EPS
- −67.0%
- Free cash flow
- −66.7%
- Total debt
- +308.2%
Quarter to September 2026, against a year earlier
460.68
7.60
+1.68%
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| Older periods | Dec '25 | Mar '26 | Jun '26 | Sep '26 | |
|---|---|---|---|---|---|
P/E ratio |
+8 more quarters Free account |
35.20 | 37.79 | 93.29 | 187.42 |
P/S ratio |
7.14 | 6.49 | 7.93 | 7.69 | |
P/FCF ratio |
44.53 | 105.62 | 100.47 | 167.10 | |
P/Operating CF |
137.36 | (8,153.66) | 183.24 | 440.53 | |
P/B ratio |
8.82 | 1.60 | 2.42 | 2.84 | |
Price to Tangible BV |
34.04 | 0.00 | 0.00 | 0.00 | |
EV/Sales |
7.25 | 7.65 | 8.87 | 8.46 | |
EV/EBITDA |
22.76 | 29.84 | 43.67 | 50.34 | |
EV/Operating CF |
35.19 | 74.07 | 74.93 | 103.06 | |
EV/FCF |
45.24 | 124.59 | 112.32 | 183.71 | |
Quick Ratio |
1.14 | 0.97 | 1.05 | 0.40 | |
Current Ratio |
1.73 | 1.79 | 1.86 | 0.66 | |
Net Debt/EBITDA |
1.11 | 27.46 | 20.22 | 0.00 | |
Debt/Assets |
18.65% | 19.79% | 19.74% | 0.00% | |
Debt/Equity |
0.37 | 0.32 | 0.32 | 0.00 | |
Asset Turnover |
0.66 | 0.26 | 0.32 | 0.39 | |
Operating CF/Net income |
0.73 | 0.04 | (1.48) | 1.21 | |
Capex/Depreciation |
(1.35) | (0.19) | (0.16) | (0.15) | |
Interest Coverage |
19.44 | (0.98) | (1.43) | 2.42 | |
Research and Development Expense of Revenue |
4.94% | 7.58% | 7.42% | 6.00% | |
Selling, General and Administrative Expense of Revenue |
26.18% | 30.54% | 24.62% | 22.52% | |
Intangible Assets out of Total Assets |
0.37 | 0.74 | 0.72 | 0.73 | |
Share Based Compensation of Revenue |
1.56% | 1.58% | 1.52% | 1.25% | |
Graham Net Nets |
(0.02) | (0.21) | (0.14) | (0.13) | |
Graham Number |
102.24 | 181.68 | 118.30 | 0.00 | |
Earnings Yield |
2.84% | 2.65% | 1.07% | 0.53% | |
Free Cash Flow Yield |
2.25% | 0.95% | 1.00% | 0.60% | |
Revenue per Share |
15.67 | 15.43 | 16.75 | 17.98 | |
Operating CF per Share |
2.77 | (0.04) | 2.05 | 1.00 | |
Capex per Share |
(1.20) | (0.47) | (0.49) | (0.45) | |
Free Cash Flow per Share |
1.57 | (0.51) | 1.56 | 0.55 | |
Cash per Share |
9.88 | 5.62 | 5.49 | 6.04 | |
Shareholders Equity per Share |
43.05 | 186.17 | 154.73 | 155.63 | |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | |
Book value per Share |
43.05 | 186.17 | 154.73 | 155.63 | |
Free Cash Flow |
93.37 | (42.00) | 153.00 | 54.00 | |
Working Capital |
909.00 | 1,791.00 | 2,066.00 | (1,752.00) | |
Capital Expenditures |
(71.19) | (39.00) | (48.00) | (44.00) | |
Net Current Asset Value |
(367.00) | (5,175.00) | (5,091.00) | (5,443.00) | |
EV/EBIT |
28.61 | 47.80 | 124.94 | 178.79 | |
Capex to Sales |
0.08 | 0.03 | 0.03 | 0.02 | |
Price to Operating Income |
28.16 | 40.53 | 111.75 | 162.62 | |
| Other line items | |||||
Average Receivables |
781.18 | 1,233.14 | 1,358.54 | 1,106.26 | |
Average Payables |
101.97 | 352.03 | 480.46 | — | |
Average Inventory |
524.63 | 1,003.75 | 958.88 | 948.47 | |
Average Assets |
4,815.40 | 14,561.29 | 14,734.54 | 14,488.78 | |
Average Common Equity |
2,195.25 | 8,627.20 | 8,677.41 | — |
Columns are period end dates · fundamentals updated 5 Nov 2026