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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
454.74
12.86
−2.75%
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| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Older periods | |
|---|---|---|---|---|---|
P/E ratio |
187.42 | 93.29 | 37.79 | 35.20 |
+8 more quarters Free account |
P/S ratio |
7.69 | 7.93 | 6.49 | 7.14 | |
P/FCF ratio |
167.10 | 100.47 | 105.62 | 44.53 | |
P/Operating CF |
440.53 | 183.24 | (8,153.66) | 137.36 | |
P/B ratio |
2.84 | 2.42 | 1.60 | 8.82 | |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 34.04 | |
EV/Sales |
8.46 | 8.87 | 7.65 | 7.25 | |
EV/EBITDA |
50.34 | 43.67 | 29.84 | 22.76 | |
EV/Operating CF |
103.06 | 74.93 | 74.07 | 35.19 | |
EV/FCF |
183.71 | 112.32 | 124.59 | 45.24 | |
Quick Ratio |
0.40 | 1.05 | 0.97 | 1.14 | |
Current Ratio |
0.66 | 1.86 | 1.79 | 1.73 | |
Net Debt/EBITDA |
0.00 | 20.22 | 27.46 | 1.11 | |
Debt/Assets |
0.00% | 19.74% | 19.79% | 18.65% | |
Debt/Equity |
0.00 | 0.32 | 0.32 | 0.37 | |
Asset Turnover |
0.39 | 0.32 | 0.26 | 0.66 | |
Operating CF/Net income |
1.21 | (1.48) | 0.04 | 0.73 | |
Capex/Depreciation |
(0.15) | (0.16) | (0.19) | (1.35) | |
Interest Coverage |
2.42 | (1.43) | (0.98) | 19.44 | |
Research and Development Expense of Revenue |
6.00% | 7.42% | 7.58% | 4.94% | |
Selling, General and Administrative Expense of Revenue |
22.52% | 24.62% | 30.54% | 26.18% | |
Intangible Assets out of Total Assets |
0.73 | 0.72 | 0.74 | 0.37 | |
Share Based Compensation of Revenue |
1.25% | 1.52% | 1.58% | 1.56% | |
Graham Net Nets |
(0.13) | (0.14) | (0.21) | (0.02) | |
Graham Number |
0.00 | 118.30 | 181.68 | 102.24 | |
Earnings Yield |
0.53% | 1.07% | 2.65% | 2.84% | |
Free Cash Flow Yield |
0.60% | 1.00% | 0.95% | 2.25% | |
Revenue per Share |
17.98 | 16.75 | 15.43 | 15.67 | |
Operating CF per Share |
1.00 | 2.05 | (0.04) | 2.77 | |
Capex per Share |
(0.45) | (0.49) | (0.47) | (1.20) | |
Free Cash Flow per Share |
0.55 | 1.56 | (0.51) | 1.57 | |
Cash per Share |
6.04 | 5.49 | 5.62 | 9.88 | |
Shareholders Equity per Share |
155.63 | 154.73 | 186.17 | 43.05 | |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | |
Book value per Share |
155.63 | 154.73 | 186.17 | 43.05 | |
Free Cash Flow |
54.00 | 153.00 | (42.00) | 93.37 | |
Working Capital |
(1,752.00) | 2,066.00 | 1,791.00 | 909.00 | |
Capital Expenditures |
(44.00) | (48.00) | (39.00) | (71.19) | |
Net Current Asset Value |
(5,443.00) | (5,091.00) | (5,175.00) | (367.00) | |
EV/EBIT |
178.79 | 124.94 | 47.80 | 28.61 | |
Capex to Sales |
0.02 | 0.03 | 0.03 | 0.08 | |
Price to Operating Income |
162.62 | 111.75 | 40.53 | 28.16 | |
| Other line items | |||||
Average Receivables |
1,106.26 | 1,358.54 | 1,233.14 | 781.18 | |
Average Payables |
— | 480.46 | 352.03 | 101.97 | |
Average Inventory |
948.47 | 958.88 | 1,003.75 | 524.63 | |
Average Assets |
14,488.78 | 14,734.54 | 14,561.29 | 4,815.40 | |
Average Common Equity |
— | 8,677.41 | 8,627.20 | 2,195.25 |
Columns are period end dates · fundamentals updated 5 Nov 2026