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

456.50 3.42 +0.75%

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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 Segments Valuation Filings

Waters Corporation (WAT) P/E ratio

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As of 5 November 2026, Waters Corporation (WAT) trades at a P/E ratio of 194×. 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 34.5× and above the Healthcare sector median of 25.2×.

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<iframe src="https://stockrow.com/embed/WAT/pe-ratio" width="100%" height="360" style="border:0" loading="lazy" title="Waters Corporation P/E ratio, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/WAT/metrics/pe-ratio">Waters Corporation (WAT) P/E ratio — stockrow.com</a></p>

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%)

Period	P/E ratio	Change
Sep 2026	187×	100.89%
Jun 2026	93.3×	146.86%
Mar 2026	37.8×	7.36%
Dec 2025	35.2×	28.10%
43 more quarters	Free account

Against its own ten years

Low 18.3× High 911×

Ten-year median 28.0×

Current reading's percentile 91

Company	P/E ratio
NTRA Natera, Inc. compare	n/m
DGX Quest Diagnostics Incorporated compare	25.0×
LH Labcorp Holdings Inc. compare	29.5×
IQV IQVIA Holdings Inc. compare	31.8×
A Agilent Technologies, Inc. compare	33.8×
ILMN Illumina, Inc. compare	35.6×
MTD Mettler-Toledo International, Inc. compare	37.6×
IDXX IDEXX Laboratories, Inc. compare	44.8×
WAT Waters Corporation	194×
Diagnostics & Research industry median	34.5×
Healthcare sector median	25.2×
Market median	17.9×

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 →

Waters Corporation (WAT) P/E ratio

P/E ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/E ratio against peers

What P/E ratio is

More on WAT

P/E ratio, daily

Annual newest first

Quarterly newest first

Against its own ten years

P/E ratio against peers

What P/E ratio is

More on WAT

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