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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

460.56 7.48 +1.65%
Market cap
$44.5B
P/E
194×
Fwd P/E
81.0×
Dividend yield
—
F-score
5/9
Altman Z
9.63
Beneish M
−2.37
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Waters Corporation (WAT) EV/Sales

Alert me on EV/Sales

As of 5 November 2026, Waters Corporation (WAT) trades at a EV/Sales of 8.7×. Over the past ten years it has ranged from 4.1× (February 2016) to 10.3× (September 2026); the current reading is higher than 94% of that period. That is above the Diagnostics & Research industry median of 5.2× and above the Healthcare sector median of 3.5×.

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
Sep 2026 8.5× (4.60%)
Jun 2026 8.9× 15.85%
Mar 2026 7.7× 5.49%
Dec 2025 7.3× 22.87%
43 more quarters

Against its own ten years

Low 4.1× High 10.3×
Ten-year median 6.4×
Current reading's percentile 94

EV/Sales against peers

Company EV/Sales
LH Labcorp Holdings Inc. compare 2.4×
DGX Quest Diagnostics Incorporated compare 2.8×
IQV IQVIA Holdings Inc. compare 3.3×
A Agilent Technologies, Inc. compare 6.8×
ILMN Illumina, Inc. compare 7.2×
MTD Mettler-Toledo International, Inc. compare 8.7×
WAT Waters Corporation 8.7×
IDXX IDEXX Laboratories, Inc. compare 11.3×
NTRA Natera, Inc. compare 17.9×
Diagnostics & Research industry median 5.2×
Healthcare sector median 3.5×
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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