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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) P/E ratio

Alert me on P/E ratio

As of 16 October 2026, Waters Corporation (WAT) trades at a P/E ratio of 109×. Over the past ten years it has ranged from 18.3× (March 2020) to 911× (January 2018); the current reading is higher than 91% of that period. That is above the Diagnostics & Research industry median of 35.6× and above the Healthcare sector median of 23.0×.

P/E ratio, daily

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Annual newest first

Period P/E ratio Change
FY2025 35.2× 2.10%
FY2024 34.5× 14.25%
FY2023 30.2× 3.21%
FY2022 29.2× (11.56%)
FY2021 33.1× 12.11%
FY2020 29.5× 11.70%
FY2019 26.4× 8.32%
FY2018 24.4× (97.01%)
FY2017 815× 3,766.79%
FY2016 21.1× (10.53%)

Quarterly newest first

Period P/E ratio Change
Jun 2026 93.3× 146.86%
Mar 2026 37.8× 7.36%
Dec 2025 35.2× 28.10%
Sep 2025 27.5× (12.37%)
42 more quarters

Against its own ten years

Low 18.3× High 911×
Ten-year median 28.0×
Current reading's percentile 91

P/E ratio against peers

Company P/E ratio
NTRA Natera, Inc. compare n/m
DGX Quest Diagnostics Incorporated compare 24.6×
LH Labcorp Holdings Inc. compare 26.2×
IQV IQVIA Holdings Inc. compare 32.8×
A Agilent Technologies, Inc. compare 34.0×
MTD Mettler-Toledo International, Inc. compare 36.4×
IDXX IDEXX Laboratories, Inc. compare 39.1×
ILMN Illumina, Inc. compare 48.4×
WAT Waters Corporation 109×
Diagnostics & Research industry median 35.6×
Healthcare sector median 23.0×
Market median 18.1×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

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