WAT
Waters Corporation
$358.25
▲ 0.8%Updated Today 7:15 PM ET
▲ Up 4.7% over the last 12 months
Market Cap
$35.40B
P/E
77.08x
Forward P/E (est.)
108.19x
ROE
8.0%
Revenue Growth
26.4%
EPS Growth
-28.7%
Profit Margin
11.9%
FCF Yield
3.8%
Debt / Equity
0.55x
ROIC
4.0%
Interest Coverage
11.54x
Current Ratio
1.79x
Dividend Yield
—
Implied Growth (rev. DCF)
7.4%
Rating Score
44/100
Technical analysis reads price and volume to judge momentum and timing. It complements the fundamentals above — it does not replace them. Here is what WAT's chart says today, with each tool explained.
Trend — moving averages. A moving average is the average closing price over a window, which smooths out daily noise. WAT trades near $358.25, above its 50-day average ($339.97) and 200-day average ($344.52). Price above both averages, with the shorter one above the longer, is the textbook definition of an uptrend — momentum favours buyers.
Momentum — RSI. The Relative Strength Index runs 0–100 and measures how strong recent gains are versus losses. Above 70 is "overbought", below 30 "oversold". At 44 it is in neutral territory — neither stretched nor washed out.
MACD. MACD compares two moving averages to flag shifts in momentum. Its histogram is currently negative — short-term momentum is fading.
Volatility — ATR. Average True Range is the typical daily move. WAT's is $12.73 (~3.6% of price), so swings of about that size each day are normal — handy for setting a stop that isn't too tight.
Support & resistance. Over the last month WAT found buyers near $323.85 (support) and sellers near $385.29 (resistance); its 52-week range is $275.05–$414.15. A decisive break beyond either edge often marks the next move.
Volume. The latest session traded 1.0× the 20-day average — about normal. Rising volume on up-days suggests real buying; on down-days, real selling.
Educational information to help you read a chart — not a recommendation or a forecast. It updates daily as the price and indicators change.
Waters Corporation (WAT) is a large-cap company in the Life Sciences Tools & Services industry, part of the Health Care sector of the S&P 500, with a market value around $35.40B.
In its latest reported year it generated about $3.17B in revenue and $642.63M in net profit.
Our model rates WAT Neutral (44/100) on growth, profitability, financial health, and valuation. The summary below is built from its filed financials and current ratios and refreshes automatically.
4Y CAGR
3.2%
Revenue moved from $2.79B in 2021 to $3.17B in 2025, a 3.2% compound annual growth rate. The most recent year grew a strong 26.4% year over year. Consistent top-line growth is one sign of healthy demand.
Gross Margin
55.1%
Operating Margin
25.4%
Net Margin
20.3%
ROE
8.0%
Waters Corporation keeps about 11.9% of each sales dollar as net profit, with a 55.1% gross margin and 25.4% operating margin. Return on equity is 8.0% and return on invested capital about 4.0%. Margins are moderate — typical of a competitive but profitable business.
Total Debt
$1.41B
Net Debt
$948.00M
Net Debt / EBITDA
1.18x
Debt / Equity
0.55x
Leverage: debt-to-equity is 0.5x, and operating profit covers interest about 11.5x, with a current ratio of 1.8x. That is a moderate, manageable debt load for most businesses. It carries roughly $1.41B of total debt against $462.00M of cash.
Operating CF
$652.55M
Free Cash Flow
$539.81M
FCF Margin
17.1%
In the latest year Waters Corporation produced about $652.55M of operating cash flow and $539.81M of free cash flow after capital spending. That is a free-cash-flow yield of about 3.8% on today's price. Cash flow is what ultimately pays shareholders, so it is worth tracking over time.
P/E
77.08x
P/S
11.1x
P/B
8.71x
EV / EBITDA
—
WAT trades at 77.1x trailing earnings (about 108.2x on estimated forward earnings), 11.1x sales, and 8.7x book value. Reverse-engineering today's price implies the market expects roughly 7.4% long-term free-cash-flow growth. That is a rich multiple that prices in a lot of future growth.
Where this stock sits versus what most companies trade at.
Typical ranges are general references (e.g., many stocks trade at ~18–26x earnings), not hard rules. Context only — not investment advice.
How WAT stacks up against its Health Care peers — valuation, profitability, and growth versus the sector median.
In the Health Care sector (59 S&P 500 companies), WAT ranks #44 of 59 by our overall rating. It trades at a premium versus the sector on earnings (77.1x P/E vs. 25.4x median) with a lower return on equity (8.0% vs. 14.9%) and faster revenue growth (26.4% vs. 7.9%).
P/E vs sector
77.1x
median 25.4x
ROE vs sector
8.0%
median 14.9%
Growth vs sector
26.4%
median 7.9%
Sector rank
#44
of 59 by rating
Valuation vs. quality map
The sweet spot is upper-left: more profitable (higher ROE) for a lower P/E. Dashed lines mark the sector median.
Peers are the closest Health Care companies by sub-industry and size. Sector median is across all 59 S&P 500 names in the sector. Educational, not a recommendation.
Project revenue → earnings → price. Edit the assumptions to build your own case.
2030 price target (Base Case)
$941.90 – $1,576.66
vs. $358.25 today · expected CAGR 21% – 34%
| Metric | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|
| Revenue | $3.99B | $5.03B | $6.33B | $7.98B | $10.05B |
| Net income | $797.65M | $1.01B | $1.27B | $1.60B | $2.01B |
| EPS | $8.12 | $10.24 | $12.90 | $16.25 | $20.48 |
| Share price (low) | $373.70 | $470.86 | $593.29 | $747.54 | $941.90 |
| Share price (high) | $625.54 | $788.18 | $993.11 | $1,251.32 | $1,576.66 |
| CAGR (low–high) | 4% / 75% | 15% / 48% | 18% / 40% | 20% / 37% | 21% / 34% |
Educational model on sample fundamentals — not a forecast or investment advice. Outputs are only as good as your assumptions.
The case for WAT:
- Revenue is growing 26.4% a year, a sign of real demand.
- As an established S&P 500 member in Health Care, it brings scale and a long operating history.
The case against WAT:
- A rich 77.1x earnings multiple prices in a lot of growth.
- Like any single stock, it is exposed to competition, the economic cycle, and shifts in its end markets.
Valuation risk — at 77.1x earnings, disappointing results could compress the multiple.
Market risk — sector rotation, the economic cycle, and broad sentiment move the stock regardless of fundamentals.
On balance, the picture is mixed: Waters Corporation is a large-cap health care business still growing nicely, with modest profitability, and a sound balance sheet. It trades at 77.1x earnings, which our model scores Neutral (44/100). Weigh this against your own goals and time horizon — this is educational information, not a recommendation.
Data notice. Fundamentals and financial statements are sourced from company filings (SEC EDGAR) and market-data providers; prices and market caps refresh on trading days and may be delayed. Ratings, projections, technical signals, and written summaries are model- or rule-generated for education and may simplify or lag the latest filings.
Not advice. Nothing on this page is investment advice or a recommendation to buy, hold, or sell any security. Do your own research and consult a licensed financial professional before investing.