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NYSE · Industrials

Waters Corp (WAT)

Waters Corp brought in $4.6B of revenue over the twelve months to July 4, 2026. Net income was $166.1M, a net margin of 3.6%. Operating cash flow minus capital spending left $539.8M of free cash flow in fiscal 2025. At July 4, 2026 it held $539M in cash against $5.1B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 11, 2026.

Price
$433.54
+0.75% on the day · September 25, 2026
52-week range $282.77 to $436.34
Market cap
$42.6B
Revenue (last 12 months)
$4.6B
Net margin
3.6%
P/E
40.3
on FY2025 diluted EPS

What Waters Corp does

Waters Corporation manufactures analytical laboratory instruments, software, and consumables used for chemical and biological analysis. Its primary products include liquid chromatography systems, mass spectrometers, and thermal analysis instruments sold to pharmaceutical, biotechnology, environmental, and academic laboratories. Its shares trade on NYSE under the ticker WAT.

Revenue and profit by year

Revenue
FY18: $2.4B $2.4B FY18FY19: $2.4B $2.4B FY19FY20: $2.4B $2.4B FY20FY21: $2.8B $2.8B FY21FY22: $3B $3B FY22FY23: $3B $3B FY23FY24: $3B $3B FY24FY25: $3.2B $3.2B FY25
Net income
FY18: $593.8M $593.8M FY18FY19: $592.2M $592.2M FY19FY20: $521.6M $521.6M FY20FY21: $692.8M $692.8M FY21FY22: $707.8M $707.8M FY22FY23: $642.2M $642.2M FY23FY24: $637.8M $637.8M FY24FY25: $642.6M $642.6M FY25

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal yearRevenueOperating incomeNet incomeDiluted EPSFree cash flow
2025$3.2B$802.6M$642.6M$10.76$539.8M
2024$3B$826.4M$637.8M$10.71$619.6M
2023$3B$817.7M$642.2M$10.84$442.2M
2022$3B$873.4M$707.8M$11.73n/a
2021$2.8B$821.7M$692.8M$11.17n/a
2020$2.4B$645.5M$521.6M$8.36n/a

Latest SEC filings

What Waters Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.

  1. August 21, 2026
    Executive or director change 8-K
  2. August 11, 2026
    Quarterly report 10-Q · period to July 4, 2026
  3. August 4, 2026
    Quarterly results 8-K
  4. June 25, 2026
    Employee plan annual report 11-K
  5. May 29, 2026
    Conflict minerals disclosure SD
  6. May 22, 2026
    Shareholder vote results 8-K
  7. May 15, 2026
    Passive stake changed SCHEDULE 13G/A
  8. May 12, 2026
    Quarterly report 10-Q · period to April 4, 2026
  9. May 5, 2026
    Quarterly results 8-K
  10. April 30, 2026
    Passive stake (5% or more) SCHEDULE 13G

Recent insider filings (Forms 3, 4 and 144): 10, the latest on August 31, 2026. Insider transactions on SEC

All filings on SEC EDGAR

Questions about WAT

What does Waters Corp do?

Waters Corporation manufactures analytical laboratory instruments, software, and consumables used for chemical and biological analysis. Its primary products include liquid chromatography systems, mass spectrometers, and thermal analysis instruments sold to pharmaceutical, biotechnology, environmental, and academic laboratories. Its shares trade on NYSE under the ticker WAT.

Is Waters Corp profitable?

Yes. Over the twelve months to July 4, 2026 it reported net income of $166.1M on revenue of $4.6B, a net margin of 3.6%.

How much revenue does Waters Corp make?

Over the twelve months to July 4, 2026 Waters Corp reported revenue of $4.6B.

When did Waters Corp last report?

Its most recent periodic report is the quarterly report (10-Q) filed on August 11, 2026. It covers the period to July 4, 2026. Its newest filing of any kind is the new insider holdings from August 31, 2026.

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Where the numbers come from

Financial figures are the values Waters Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.