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Home CompaniesWaters Corporation

Waters Corporation

Healthcare Diagnostics & Research
PortfolioPortfolio WatchlistWatchlist
Company price
457.6 USD 4.52 ( 1.00%)
Last update at 2026-11-06T21:00:00Z
VOLUME
695748
Market Cap
19628.39M
P/E
30.04

Momentum Score

…

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. Its MS technology instruments are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. The company offers thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer good, and healthcare products, as well as for life science research. Its products are used by life science, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts.

Source: TradingView
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Day Price Range
450.61
Low
463.90
High
52 Week Price Range
231.90
Low
350.97
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Waters Corporation makes analytical instruments, software and consumables centered on liquid chromatography and mass spectrometry for pharmaceutical, biotech, food safety and environmental labs. Long-term growth may be supported by expanding biopharma R&D, recurring consumables and services from its installed base and regulatory trends that could increase demand for advanced analytics.
Major risks include cyclical capital-equipment spending, strong competition from larger instrument makers and exposure to pharmaceutical R&D budgets plus execution and supply-chain disruption risks that could dent sales and margins.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
453.08
Dividend Yield
0.58%
Revenue TTM
2995.45M
Revenue Per Share
50.66
Gross Profit TTM
1723.77M
Debt / Equity
3.27
ROE
101.20%
Net Debt
1170.78M
ROCE
35.00%
Diluted EPS TTM
11.05

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 837.85M 806.19M 610.91M 678.24M 682.15M
Net income 707.75M 692.84M 521.57M 592.20M 593.79M
Selling general administrative 658.03M 626.97M 553.70M 534.79M 536.90M
Selling and marketing expenses - - 553.70M - -
Gross profit 1723.77M 1629.34M 1358.68M 1395.90M 1427.37M
Reconciled depreciation 130.42M 131.68M 125.36M 105.30M 108.41M
Ebit 873.39M 821.71M 645.49M 708.46M 691.55M
Ebitda 1015.84M 975.75M 787.19M 810.17M 799.96M
Depreciation and amortization 142.45M 154.05M 141.70M 101.71M 108.41M
Non operating income net other - 29.42M 14.49M 18.47M -8.99M
Operating income 873.39M 821.71M 645.49M 708.46M 739.77M
Other operating expenses 2088.76M 1959.00M 1711.75M 1698.14M 1680.58M
Interest expense 37.78M 32.72M 32.80M 26.63M 9.83M
Tax provision 130.09M 113.35M 89.34M 86.04M 88.35M
Interest income 37.78M 32.72M 32.80M 22.06M 38.81M
Net interest income -37.78M -32.72M -32.80M -26.63M -9.83M
Extraordinary items - - 0.00M 3.23M -1.44M
Non recurring - 5.17M 8.12M - -0.43M
Income tax expense 130.09M 113.35M 89.34M 86.04M 88.35M
Total revenue 2971.96M 2785.87M 2365.36M 2406.60M 2419.93M
Total operating expenses 840.58M 802.47M 705.06M 687.44M 688.02M
Cost of revenue 1248.18M 1156.53M 1006.69M 1010.70M 992.56M
Total other income expense net -35.55M -15.51M -34.58M -30.22M -47.37M
Net income from continuing ops 707.75M 692.84M 521.57M 592.20M 593.79M
Net income applicable to common shares 707.75M 692.84M 521.57M 592.20M 593.79M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Total assets 3281.45M 3094.93M 2839.92M 2557.05M 3727.43M
Intangible assets 227.40M 242.40M 258.64M 240.20M 246.90M
Other current assets 103.91M 90.91M 80.29M 67.06M 68.05M
Total liab 2776.97M 2727.38M 2607.78M 2773.34M 2160.17M
Total stockholder equity 504.49M 367.55M 232.14M -216.28M 1567.26M
Other current liab 388.10M 328.24M 356.77M -225.36M -233.13M
Common stock 1.62M 1.62M 1.62M 1.61M 1.60M
Capital stock 1.62M 1.62M 1.62M 1.61M 1.60M
Retained earnings 8508.59M 7800.83M 7107.99M 6587.40M 5995.20M
Other liab 399.46M 1213.51M 1251.26M 534.32M 563.07M
Good will 430.33M 437.87M 444.36M 356.13M 355.61M
Other assets 381.52M 328.73M 241.88M 133.05M 117.57M
Cash 480.53M 501.23M 436.69M 335.71M 796.28M
Cash and equivalents 481.39M 497.22M 430.24M 335.50M 601.90M
Total current liabilities 785.74M 680.51M 804.98M 1681.16M 1148.35M
Current deferred revenue 227.91M 227.56M 198.24M 176.36M 164.97M
Net debt 1170.78M 1012.64M 919.82M 1345.45M 1500.24M
Short term debt 76.43M 27.91M 177.76M 1681.16M 1148.35M
Short long term debt 50.00M - 150.00M 100.37M 0.18M
Short long term debt total 1651.31M 1513.87M 1356.52M 1681.16M 2296.52M
Other stockholder equity -7864.15M -7323.03M -6759.52M -6685.82M -4311.58M
Property plant equipment 582.22M 547.91M 494.00M 417.34M 343.08M
Total current assets 1659.99M 1538.03M 1320.74M 1245.43M 2595.11M
Long term investments - - - 4.49M 1.09M
Net tangible assets -153.24M -312.71M 232.14M -216.28M 964.74M
Short term investments 0.86M 68.05M 6.45M 1.43M 938.94M
Net receivables 722.89M 612.65M 573.32M 587.73M 568.32M
Long term debt 1574.88M 1513.87M 1356.52M 1580.80M 1148.17M
Inventory 455.71M 356.10M 304.28M 320.55M 291.57M
Accounts payable 93.30M 96.80M 72.21M 49.00M 68.17M
Accumulated other comprehensive income -141.57M -111.86M -117.94M -119.47M -117.97M
Common stock total equity - 1.62M 1.62M 1.61M 1.60M
Retained earnings total equity - 7800.83M 7107.99M 6587.40M 5995.20M
Treasury stock - -9437.91M -8788.98M -8612.58M -6146.32M
Non currrent assets other 381.52M 328.73M 322.17M 297.95M 186.72M
Non current assets total 1621.46M 1556.90M 1519.18M 1311.63M 1132.32M
Capital lease obligations 88.54M 87.53M 95.96M 94.01M -
Long term debt total 1574.88M 1513.87M 1206.52M 1580.80M 1148.17M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -107.97M -63.36M -5.02M 941.47M 1810.87M
Change to liabilities 73.85M -5.96M 99.87M -30.13M -54.65M
Total cashflows from investing activities -107.97M -231.63M -264.09M 768.80M 1683.30M
Net borrowings 60.00M 151.46M -325.37M 532.26M -850.16M
Total cash from financing activities -509.63M -438.27M -440.50M -1872.68M -2119.52M
Change to operating activities -81.17M -107.17M 96.72M -67.30M 20.62M
Net income 707.75M 692.84M 521.57M 592.20M 593.79M
Change in cash -20.70M 64.54M 100.98M -460.56M 153.96M
Begin period cash flow 501.23M 436.69M 335.71M 796.28M 642.32M
End period cash flow 480.53M 501.23M 436.69M 335.71M 796.28M
Total cash from operating activities 611.66M 747.27M 790.51M 643.09M 604.45M
Depreciation 130.42M 131.68M 135.35M 105.30M 108.41M
Other cashflows from investing activities 75.49M -63.36M -86.69M -8.84M -31.49M
Change to inventory -101.90M -67.25M 18.94M -31.85M -25.40M
Change to account receivables -137.87M -62.45M 37.47M -22.20M -47.92M
Sale purchase of stock -626.06M -648.93M -196.41M -2469.26M -1315.11M
Other cashflows from financing activities 261.43M 560.65M 396.27M 987.06M 46.02M
Change to netincome 20.58M 29.92M 41.12M 48.20M 39.95M
Capital expenditures 183.46M 168.27M 172.38M 163.82M 127.56M
Change receivables - -62.45M 37.47M -22.20M -47.92M
Cash flows other operating - 21.57M -53.82M -18.43M -9.74M
Cash and cash equivalents changes - 77.37M 85.91M -460.79M 168.23M
Change in working capital -269.08M -107.17M 96.72M -92.98M -135.30M
Stock based compensation 42.56M 29.92M 36.87M 38.58M 37.54M
Other non cash items 31.99M -16.63M 2.69M -9.62M -2.40M
Free cash flow 428.20M 579.01M 618.12M 479.26M 476.88M

Peer Comparison*

Sector: Healthcare Industry: Diagnostics & Research

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
WAT
Waters Corporation		 4.52
1.00%		 457.60 30.04 25.97 6.38 21.11 7.13 21.25
TMO
Thermo Fisher Scientific Inc		 17.82
2.63%		 694.76 34.71 23.87 4.62 4.43 5.29 20.89
DHR
Danaher Corporation		 3.91
1.73%		 230.25 29.09 28.01 5.67 3.20 6.00 19.09
WUXIF
WuXi AppTec Co. Ltd		 -
-%		 25.45 22.29 17.95 1.53 5.98 8.39 14.30
WUXAY
WuXi AppTec Co. Ltd		 -0.31
1.23%		 24.85 23.28 18.73 1.51 6.24 8.39 14.30

Profile*

Waters Corporation

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. Its MS technology instruments are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. The company offers thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer good, and healthcare products, as well as for life science research. Its products are used by life science, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts.

34 Maple Street, Milford, MA, United States, 01757

508 478 2000

https://www.waters.com

8200

Name Title Year Born
Dr. Udit Batra Ph.D. Pres, CEO & Director 1971
Mr. Amol Chaubal Sr. VP & CFO 1977
Dr. Belinda Gaye Hyde Ph.D. Sr. VP & Chief HR Officer 1971
Mr. Jonathan M. Pratt Sr. VP of Waters Division 1970
Ms. Jianqing Y. Bennett Sr. VP of TA Instruments Division 1970
Mr. Christos Ross Sr. VP of Global Operations NA
Caspar Tudor Manage of Investor Relation NA
Ms. Keeley A. Aleman Sr. VP, Gen. Counsel & Corp. Sec. 1977
Kevin Kempskie Sr. Director of PR NA
Ms. Kristen Garvey VP of Corp. Communications NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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