Waters Corporation
WAT stock analysis · Health Care · Life Sciences Tools & Services
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-05-06. Approximate; share and price dates can differ.
View share-count filing ↗DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-05-06 · -77.7% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
6 industry peers · median 29.1×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 57.3× · 96.1% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Requires reported dividends, repurchases and issuance; missing values are not zero.
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $104.74 | $114.28 | $124.54 |
| 10.0% | $76.75 | $83.50 | $90.76 |
| 12.0% | $60.55 | $65.70 | $71.23 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 3.2B | 642.6M | 652.6M | 112.7M | 5.1B |
| 2024-12-31 | 3B | 637.8M | 762.1M | 142.5M | 4.6B |
| 2023-12-31 | 3B | 642.2M | 602.8M | 160.6M | 4.6B |
| 2022-12-31 | 3B | 707.8M | 611.7M | — | 3.3B |
| 2021-12-31 | 2.8B | 692.8M | 747.3M | — | 3.1B |
| 2020-12-31 | 2.4B | 521.6M | 790.5M | — | 2.8B |
| 2019-12-31 | 2.4B | 592.2M | 643.1M | — | 2.6B |
| 2018-12-31 | 2.4B | 593.8M | 604.4M | — | 3.7B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 3.2B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-23 |
| netIncome | 642.6M | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-23 |
| Parent/common earnings proxy | 642.6M | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-23 |
| cfo | 652.6M | NetCashProvidedByUsedInOperatingActivities | 2026-02-23 |
| capex | 112.7M | PaymentsToAcquireProductiveAssets | 2026-02-23 |
| operatingIncome | 802.6M | OperatingIncomeLoss | 2026-02-23 |
| assets | 5.1B | Assets | 2026-02-23 |
| equity | 2.6B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-23 |
| Parent book equity proxy | 2.6B | StockholdersEquity | 2026-02-23 |
| debt | 1.4B | LongTermDebt | 2026-02-23 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 587.8M | CashAndCashEquivalentsAtCarryingValue | 2026-02-23 |
| shares | 59.7M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-23 |
| dividends | — | Not reported under a supported tag | — |
| buybacks | 14.7M | PaymentsForRepurchaseOfCommonStock | 2026-02-23 |
| issuance | 20.8M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from stock plans: 20790000 USD [us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions]. All 6 financing lines reconcile exactly to reported financing cash flow -237205000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction. | 2026-02-23 |