Fundamental analysis · SEC EDGAR · TTM through 04/04/2026

Fundamental analysis of Waters Corp /De/

WAT · NYSE · Laboratory Analytical Instruments

Fundamental quality

DEMANDING

39

out of 100

Breakdown by area

I.GrowthEPS growth: -11.6% · Revenue growth: 7.6%
24
II.ProfitabilityNet margin: 11.9% · ROE: 2.9%
54
III.Financial healthNet debt/EBITDA: 6.22x · FCF: 7%
38

Source: SEC EDGAR · TTM through 04/04/2026

The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.

Strengths

  • No clearly standout strengths by the system's thresholds.

Risks and weaknesses

  • Declining earnings per share (-11.6% annualized).
  • High leverage (net debt of 6.22× EBITDA).
  • Low return on equity (ROE of 2.9%).

Historical evolution

YearRevenueNet incomeFree cash flowNet debt
2021$2,786M$693M$1,013M
2022$2,972M$708M$1,044M
2023$2,956M$642M$442M$1,910M
2024$2,958M$638M$620M$1,301M
2025$3,165M$643M$540M$359M

Between 2021 and 2025, revenue went from $2,786M to $3,165M (+14%) and net income went from $693M to $643M (-7%).

Annual figures in U.S. dollars per SEC filings. Net debt is total debt minus cash.

Frequently asked questions

Is Waters Corp /De/ a profitable company?

Yes. Waters Corp /De/ shows a net margin of 11.9% and an ROE of 2.9%, a sign of a profitable business.

Does Waters Corp /De/ have a lot of debt?

Yes, its leverage is high: net debt is 6.22 times its EBITDA.

Is Waters Corp /De/ growing?

Its revenue has grown 7.6% annualized in recent years.

Does Waters Corp /De/ generate cash?

Yes. It converts about 7% of its revenue into free cash flow.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

Is Waters Corp /De/ cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →
Advertising

Where to buy Waters Corp /De/?

Brokers you can use to invest in U.S. and European stocks.

Compare the brokers →