Waters Corporation (WAT)
NYSE · Healthcare · Medical - Diagnostics & Research
Profile
Waters Corporation
- Exchange
- NYSE
- Ticker
- WAT
- Sector
- Healthcare
- Industry
- Medical - Diagnostics & Research
- Country
- US
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.
Key facts
Waters Corporation: key facts
- Waters Corporation (NYSE: WAT) is a Medical - Diagnostics & Research company in the Healthcare sector.
- In fiscal 2025, Waters Corporation reported revenue of $3.2B and net income of $642.6M.
- Revenue grew 3.2% a year over the last 4 fiscal years.
- Free cash flow was positive in 5 of the last 5 fiscal years.
- Net income was positive in 5 of the last 5 fiscal years.
- Over the last twelve months, revenue was $4.6B and net income was $166.1M.
MonkScore
Waters Corporation's MonkScore
MonkScore
MonkScore range: 60–70
as of October 2026
Sector rank: 282 of 628 in Healthcare
How this score is madeDisclaimer
Pillar ranges
- Growth40–50
- Profitability30–40
- Quality50–60
- Market Conviction80–90
- Safety50–60
The MonkScore runs from 0 to 100. Each range is one of ten 10-point groups, from 0–10 to 90–100.
Each pillar's range uses the same ten groups. The exact score and the pillar scores are in the MonkStreet app.
Fundamentals
Figures from the statements
Waters Corporation's annual figures and the last twelve months, in USD. Last report: 4 July 2026.
| Figure | Last 12 months | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue | $4.6B | $3.2B | $3.0B | $3.0B | $3.0B | $2.8B |
| Gross profit | $2.4B | $1.8B | $1.8B | $1.8B | $1.7B | $1.6B |
| Operating income | $369.7M | $893.2M | $826.4M | $817.7M | $873.4M | $821.7M |
| Net income | $166.1M | $642.6M | $637.8M | $642.2M | $707.8M | $692.8M |
| Operating cash flow | $549.9M | $652.6M | $762.1M | $602.8M | $611.7M | $747.3M |
| Capital expenditure | -$151.4M | -$112.7M | -$142.5M | -$160.6M | -$183.5M | -$168.3M |
| Free cash flow | $398.5M | $539.8M | $619.6M | $442.2M | $428.2M | $579.0M |
| Total debt | $5.3B | $1.5B | $1.7B | $2.4B | $1.7B | $1.6B |
| Cash | $539.0M | $587.8M | $324.4M | $395.1M | $480.5M | $501.2M |
Revenue growth a year
- 1-year
- 7.0%
- 3-year
- 2.1%
- 4-year
- 3.2%
Compound growth between fiscal years.
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Page built on 31 October 2026.