← WATERS CORP /DE/ WAT
Market Price
$412.18
Market Cap
$40.61B
P/E Ratio
38.31
Revenue (FY 2025)
↑7.0% YoY
$3.17B
3-Yr CAGR: 2.1%
Net Income
↑0.8% YoY
$642.63M
Net Margin: 20.3%
Free Cash Flow
↓-12.9% YoY
$539.81M
FCF Yield: 1.33%
EPS (Diluted)
↑0.5% YoY
$10.76
Basic: $10.80
Return on Equity
Efficiency
25.1%
ROA: 29.9%
📊 Multi-Year Historical Performance & Trends
Financial Performance History
Revenue, Net Income & Free Cash Flow
Margins Trend (%)
Gross, Operating & Net Margins
Balance Sheet Strength
Cash, Debt & Equity
Cash Flow Generation
Operating Cash Flow vs CapEx vs FCF
📈 Year-over-Year (YoY) Growth History (WAT)
All monetary values in millions ($M)| Fiscal Year | Revenue | Revenue YoY | Gross Profit | Net Income | Net Inc YoY | Diluted EPS | EPS YoY | Op. Cash Flow | Free Cash Flow | FCF YoY |
|---|---|---|---|---|---|---|---|---|---|---|
| FY 2016 | $2,167.4M | — | $1,276.0M | $521.5M | — | $6.41 | — | $629.1M | — | — |
| FY 2017 | $2,309.1M | +6.5% | $1,362.0M | $20.3M | -96.1% | $0.25 | -96.1% | $697.6M | — | — |
| FY 2018 | $2,419.9M | +4.8% | $1,427.4M | $593.8M | +2,823.5% | $7.65 | +2,960.0% | $604.4M | — | — |
| FY 2019 | $2,406.6M | -0.6% | $1,395.9M | $592.2M | -0.3% | $8.69 | +13.6% | $643.1M | — | — |
| FY 2020 | $2,365.4M | -1.7% | $1,358.7M | $521.6M | -11.9% | $8.36 | -3.8% | $790.5M | — | — |
| FY 2021 | $2,785.9M | +17.8% | $1,629.3M | $692.8M | +32.8% | $11.17 | +33.6% | $747.3M | — | — |
| FY 2022 | $2,972.0M | +6.7% | $1,723.8M | $707.8M | +2.2% | $11.73 | +5.0% | $611.7M | $435.7M | — |
| FY 2023 | $2,956.4M | -0.5% | $1,761.2M | $642.2M | -9.3% | $10.84 | -7.6% | $602.8M | $442.2M | +1.5% |
| FY 2024 | $2,958.4M | +0.1% | $1,758.2M | $637.8M | -0.7% | $10.71 | -1.2% | $762.1M | $619.6M | +40.1% |
| FY 2025 | $3,165.3M | +7.0% | $1,876.5M | $642.6M | +0.8% | $10.76 | +0.5% | $652.6M | $539.8M | -12.9% |
Valuation
Market Price
$412.18
Market Cap
$40.61B
Enterprise Value
$40.97B
P/E Ratio
38.31
P/B Ratio
15.80
FCF Yield
1.33%
Dividend Yield
N/A
Shares Outstanding
Profitability & Margins
Gross Margin
59.28%
Operating Margin
25.36%
Net Margin
20.30%
Return on Equity (ROE)
25.09%
Return on Assets (ROA)
29.92%
Asset Turnover
1.47x
Revenue 3-Yr CAGR
2.12%
Financial Health & Liquidity
Current Ratio
1.73
Cash Ratio
0.47
Debt / Equity
0.370
Debt / Assets
0.441
Cash & Equivalents
$587.83M
Total Debt
$947.45M
Book Value / Share
$26.09
Cash Flow Efficiency
Operating Cash Flow
$652.55M
Capital Expenditures (CapEx)
$112.75M
Free Cash Flow
$539.81M
OCF / Revenue
20.62%
FCF / Revenue
17.05%
FCF 3-Yr CAGR
7.40%
Per Share Metrics
EPS (Diluted)
$10.76
EPS (Basic)
$10.80
Dividends / Share
N/A
Book Value / Share
$26.09
EPS YoY Growth
0.47%
Balance Sheet (FY 2025)
Total Assets
$2.15B
Total Liabilities
$1.24B
Stockholders' Equity
$2.56B
Current Assets
$2.15B
Current Liabilities
$1.24B