Waters Corporation (WAT)
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No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 2,365 | 2,786 | 2,972 | 2,956 | 2,958 | 3,165 | 4,644 | 6,455 |
| Operating profit | $m | 893 | 370 | ||||||
| Net profit | $m | 522 | 693 | 708 | 642 | 638 | 643 | 166 | 870 |
| EPS reported | $ | 10.76 | 4.01 | ||||||
| Operating cashflow per share | $ | 10.97 | 5.59 | ||||||
| Capex per share | $ | 1.89 | 1.55 | ||||||
| FCF per share | $ | 9.07 | 4.04 | ||||||
| Free cash flow | $m | 540 | 398 | ||||||
| Net debt | $m | 820 | 4,347 | ||||||
| Book value equity | $m | 2,561 | - | ||||||
| Book value per share | $ | 42.90 | 154.7 | ||||||
| Number of shares | m | 59.71 | 98.2 | ||||||
| DPS (TTM paid) | $ | 0.00 | 0.00 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 35.30 | 108.11 | ||||||
| P/B LTM | x | 8.83 | 2.66 | ||||||
| P/S LTM | x | 7.14 | 4.87 | ||||||
| P/FCF LTM | x | 41.87 | 56.73 | ||||||
| EV/EBITDA LTM | x | 23.23 | 26.24 | ||||||
| EV/Sales LTM | x | 7.43 | 7.62 | ||||||
| Earnings Yield LTM | % | +2.83% | +0.92% | ||||||
| FCF Yield | % | +2.39% | +1.76% | ||||||
| Quality | |||||||||
| ROE | % | +25.09% | +1.88% | ||||||
| ROIC | % | +17.57% | +1.28% | ||||||
| Operating margin | % | +28.22% | +7.96% | ||||||
| Gross margin | % | +57.77% | +50.78% | ||||||
| FCF/Sales | % | +17.05% | +8.54% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +0.47% | -62.56% | ||||||
| Sales Growth YoY | % | +6.99% | +56.99% | ||||||
| Net Income Growth YoY | % | +0.75% | -73.95% | ||||||
| FCF Growth | % | -12.88% | -35.70% | ||||||
| Operating Profit Growth | % | +8.09% | -55.26% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 0.00% | 0.00% | ||||||
| Dividend Growth | % | - | - | ||||||
| Payout Ratio | % | 0.00% | 0.00% | ||||||
| FCF/Debt | x | 0.36 | 0.08 | ||||||
| Net Debt/EBITDA | x | 0.89 | 5.08 | ||||||
| EBIT/Net interest | x | 12.84 | 2.67 | ||||||
| Net debt/market cap | % | +6.23% | +16.50% | ||||||
| Net debt/Equity | x | 0.32 | - | ||||||
| Gross debt/equity | x | 0.58 | - | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Waters Corporation is a global leader in specialized measurement, delivering analytical solutions across Asia, the Americas, and Europe. The company operates through two main divisions: Waters and TA. Under its Waters segment, it engineers, manufactures, sells, and provides support for high and ultra-performance liquid chromatography and mass spectrometry (MS) systems. This includes essential consumables like chromatography columns and comprehensive post-warranty service plans. The TA segment focuses on designing, producing, selling, and servicing instruments for thermal analysis, rheometry, and calorimetry. Additionally, Waters develops and supplies sophisticated software that integrates with both its own instruments and those from other manufacturers. The company's advanced MS technology plays a crucial role in various applications, such as drug discovery and development (including clinical trial assessments), analyzing proteins involved in disease processes, ensuring nutritional safety, and conducting environmental testing. Its thermal analysis, rheometry, and calorimetry instruments are vital for assessing the suitability and stability of a wide range of materials, including fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids. These instruments support diverse sectors like industrial manufacturing, consumer goods, healthcare products, and life science research. Waters' extensive client base spans the life sciences, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental sectors, where its products are instrumental in research and development, quality assurance, and general laboratory operations. Established in 1958, Waters Corporation is headquartered in Milford, Massachusetts.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Waters Corporation is a global leader in specialized measurement, delivering analytical solutions across Asia, the Americas, and Europe. The company operates through two main divisions: Waters and TA. Under its Waters segment, it engineers, manufactures, sells, and provides support for high and ultra-performance liquid chromatography and mass spectrometry (MS) systems. This includes essential consumables like chromatography columns and comprehensive post-warranty service plans. The TA segment focuses on designing, producing, selling, and servicing instruments for thermal analysis, rheometry, and calorimetry. Additionally, Waters develops and supplies sophisticated software that integrates with both its own instruments and those from other manufacturers. The company's advanced MS technology plays a crucial role in various applications, such as drug discovery and development (including clinical trial assessments), analyzing proteins involved in disease processes, ensuring nutritional safety, and conducting environmental testing. Its thermal analysis, rheometry, and calorimetry instruments are vital for assessing the suitability and stability of a wide range of materials, including fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids. These instruments support diverse sectors like industrial manufacturing, consumer goods, healthcare products, and life science research. Waters' extensive client base spans the life sciences, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental sectors, where its products are instrumental in research and development, quality assurance, and general laboratory operations. Established in 1958, Waters Corporation is headquartered in Milford, Massachusetts.
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