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. In the quarter to June 2026, revenue grew 113.4%, EPS fell 156.3%, free cash flow grew 750.0% and total debt rose 308.2%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.
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Waters Corporation (WAT) Debt to equity
Waters Corporation's debt to equity at the end of the quarter to 30 June 2026 was 0.3×, down 0.0× from fiscal 2025 (0.4×). Over the past ten years it has ranged from −7.3× (fiscal 2019) to 5.2× (fiscal 2020); the current reading is higher than 18% of that period. That is above the Diagnostics & Research industry median of 0.1× and above the Healthcare sector median of 0.0×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 0.4× | (58.41%) |
| FY2024 | 0.9× | (55.62%) |
| FY2023 | 2.0× | (33.69%) |
| FY2022 | 3.0× | (26.61%) |
| FY2021 | 4.1× | (20.75%) |
| FY2020 | 5.2× | — |
| FY2019 | −7.3× | — |
| FY2018 | 0.7× | (13.76%) |
| FY2017 | 0.8× | 14.89% |
| FY2016 | 0.7× | 1.96% |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 0.3× | 1.29% |
| Mar 2026 | 0.3× | (14.10%) |
| Dec 2025 | 0.4× | (9.06%) |
| Sep 2025 | 0.4× | (26.67%) |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| NTRA Natera, Inc. compare | 0.0× |
| IDXX IDEXX Laboratories, Inc. compare | 0.3× |
| WAT Waters Corporation | 0.3× |
| A Agilent Technologies, Inc. compare | 0.5× |
| ILMN Illumina, Inc. compare | 0.5× |
| LH Labcorp Holdings Inc. compare | 0.7× |
| DGX Quest Diagnostics Incorporated compare | 0.7× |
| IQV IQVIA Holdings Inc. compare | 2.5× |
| MTD Mettler-Toledo International, Inc. compare | 165× |
| Diagnostics & Research industry median | 0.1× |
| Healthcare sector median | 0.0× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
More on WAT
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement