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Saturday 17 October 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. 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.

436.95 7.20 −1.62%
Market cap
$43.6B
P/E
109×
Fwd P/E
44.3×
Dividend yield
—
F-score
5/9
Altman Z
9.63
Beneish M
−2.37
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Waters Corporation (WAT) EV/Sales

Alert me on EV/Sales

As of 16 October 2026, Waters Corporation (WAT) trades at a EV/Sales of 10.2×. Over the past ten years it has ranged from 4.1× (February 2016) to 10.3× (October 2026); the current reading is higher than 100% of that period. That is above the Diagnostics & Research industry median of 5.5× and above the Healthcare sector median of 3.4×.

EV/Sales, daily

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Annual newest first

Period EV/Sales Change
FY2025 7.3× (7.94%)
FY2024 7.9× 9.26%
FY2023 7.2× (1.55%)
FY2022 7.3× (14.56%)
FY2021 8.6× 25.77%
FY2020 6.8× (3.74%)
FY2019 7.1× 22.97%
FY2018 5.8× (5.80%)
FY2017 6.1× 33.72%
FY2016 4.6× (8.22%)

Quarterly newest first

Period EV/Sales Change
Jun 2026 8.9× 15.85%
Mar 2026 7.7× 5.49%
Dec 2025 7.3× 22.87%
Sep 2025 5.9× (16.76%)
42 more quarters

Against its own ten years

Low 4.1× High 10.3×
Ten-year median 6.4×
Current reading's percentile 100

EV/Sales against peers

Company EV/Sales
LH Labcorp Holdings Inc. compare 2.2×
DGX Quest Diagnostics Incorporated compare 2.7×
IQV IQVIA Holdings Inc. compare 3.4×
A Agilent Technologies, Inc. compare 6.9×
MTD Mettler-Toledo International, Inc. compare 8.4×
ILMN Illumina, Inc. compare 9.0×
IDXX IDEXX Laboratories, Inc. compare 9.8×
WAT Waters Corporation 10.2×
NTRA Natera, Inc. compare 20.5×
Diagnostics & Research industry median 5.5×
Healthcare sector median 3.4×
Market median 2.1×

What EV/Sales is

EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)

The full definition of EV/Sales →

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