Waters Corp (WAT)
NYSE:WAT
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WAT Stock Chart & Stats
$327.77
-$3.31(-0.88%)
At close: 4:00 PM EST
$327.77
-$3.31(-0.88%)
Day’s Range― - ―
52-Week Range$275.05 - $414.15
Previous CloseN/A
Volume75.18K
Average Volume (3M)1.05M
Market Cap
$34.90B
Enterprise Value$28.38B
Total Cash (Recent Filing)$462.00M
Total Debt (Recent Filing)$5.57B
Price to Earnings (P/E)65.0
Beta0.76
Next Earnings
Aug 04, 2026EPS Estimate
3.01Next Dividend Ex-DateN/A
Dividend YieldN/A
Share Statistics
EPS (TTM)7.88
Shares Outstanding98,185,850
10 Day Avg. Volume876,631
30 Day Avg. Volume1,051,506
Financial Highlights & Ratios
PEG Ratio75.62
Price to Book (P/B)8.83
Price to Sales (P/S)7.14
P/FCF Ratio41.87
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue7.53
Enterprise Value/Gross Profit13.68
Enterprise Value/Ebitda30.70
Forecast
1Y Price Target
$389.53Price Target Upside18.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering18
EPS Forecast (FY)14.52
Revenue Forecast (FY)$6.44B
Bulls Say, Bears Say
Bulls Say
Installed Base And Recurring RevenueA large installed base with 22,000 instruments primed for replacement underpins durable recurring revenue from consumables, service contracts and attachments. Replacement cycles and higher service attach rates create predictable, higher-margin cash flows that support long-term revenue stability and margin recovery.
Revenue Re-accelerationMaterial re-acceleration in TTM revenue demonstrates improved demand and successful integration of acquisitions. Sustained organic growth and raised guidance indicate a larger, more diversified revenue base that supports recurring consumables, service revenue and scale benefits over the medium term.
Refinanced Debt & Manageable LeverageAccess to public debt markets and a $3.5B notes issuance to repay short‑term borrowings lengthens maturities and diversifies funding. Combined with a modest debt/equity (~0.34), this reduces near‑term refinancing risk and preserves financial flexibility to fund integration and capex.
Bears Say
Margin Compression And Weaker Cash GenerationSharp margin erosion and a large decline in free cash flow (FCF) reduce the company's ability to self‑fund R&D, integration and capital expenditures. Lower FCF conversion (≈68% of net income) and compressed margins also depress ROE and limit strategic optionality until margins sustainably recover.
China DRG/export Constraints And Geographic HeadwindsStructural regulatory and reimbursement constraints in China have materially reduced growth in several businesses. Export restrictions and the need to localize products create execution risk, require incremental investment, and can persistently depress growth and margins in a key high‑volume market.
Higher Interest Burden And Dilution From Acquisition FinancingElevated interest expense from acquisition financing raises fixed costs and reduces free cash flow available for reinvestment. Concomitant share issuance dilutes EPS before projected synergies materialize, constraining near‑term earnings power and limiting capital returns until deleveraging and synergy capture occur.
Waters News
WAT FAQ
What was Waters Corp’s price range in the past 12 months?
Waters Corp lowest stock price was $275.05 and its highest was $414.15 in the past 12 months.
What is Waters Corp’s market cap?
Waters Corp’s market cap is $34.90B.
When is Waters Corp’s upcoming earnings report date?
Waters Corp’s upcoming earnings report date is Aug 04, 2026 which is in 44 days.
How were Waters Corp’s earnings last quarter?
Waters Corp released its earnings results on May 05, 2026. The company reported $2.7 earnings per share for the quarter, beating the consensus estimate of $2.307 by $0.393.
Is Waters Corp overvalued?
According to Wall Street analysts Waters Corp’s price is currently Undervalued.
Does Waters Corp pay dividends?
Waters Corp does not currently pay dividends.
What is Waters Corp’s EPS estimate?
Waters Corp’s EPS estimate is 3.01.
How many shares outstanding does Waters Corp have?
Waters Corp has 98,185,850 shares outstanding.
What happened to Waters Corp’s price movement after its last earnings report?
Waters Corp reported an EPS of $2.7 in its last earnings report, beating expectations of $2.307. Following the earnings report the stock price went up 13.538%.
Which hedge fund is a major shareholder of Waters Corp?
Currently, no hedge funds are holding shares in WAT
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
Waters Stock Smart Score
Outperform
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Analyst Consensus
Moderate Buy
Average Price Target:
$389.53 (18.84% Upside)
$389.53 (18.84% Upside)
Blogger Sentiment
Bullish
WAT Sentiment 70%
Sector Average ―
Sector Average ―
Hedge Fund Trend
Increased
By 2.8M Shares
Last Quarter.
Last Quarter.
Insider Transactions
Bought Shares
Worth $144.7K over
the Last 3 Months
the Last 3 Months
Crowd Wisdom
Positive
Last 7 Days ▲ 0.9%
Last 30 Days ▲ 3.0%
Last 30 Days ▲ 3.0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
4.73%
12-Months-Change
Fundamentals
Return on Equity
8.04%
Trailing 12-Months
Asset Growth
434.26%
Trailing 12-Months
Company Description
Waters Corp
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.
WAT Company Deck
WAT Earnings Call
Q1 2026
0:00 / 0:00
Earnings Call Sentiment|Positive
The call presents a predominantly positive picture: strong combined‑company Q1 results with double‑digit organic growth in legacy businesses, a meaningful EPS beat (+20%), margin outperformance, an above‑plan start for the acquired BD businesses, and raised full‑year guidance. Management also outlined concrete integration actions (180‑day plan), product/regulatory wins, and synergy targets with clear timelines. Offsetting risks include a $20M respiratory headwind, notable China DRG and export constraints that drove declines in parts of the acquired businesses, Q1 GAAP acquisition‑related charges and modest free cash flow impacted by transaction costs, and prudent conservatism baked into the back‑half guide. Overall the positives—beats, raised guidance, tangible synergy progress and product/regulatory milestones—materially outweigh the near‑term operational and geographic headwinds.View all WAT earnings summariesWAT Revenue Breakdown
34.81% Waters instrument systems
19.95% Chemistry consumables
34.13% Waters service
7.70% TA instrument systems
3.41% TA service
WAT Stock 12 Month Forecast
Average Price Target
$389.53
▲(18.84% Upside)
Technical Analysis
Ownership Overview
0.10% Insiders
26.40% Mutual Funds
28.01% Other Institutional Investors
18.12% Public Companies and
Individual Investors