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Waters Corporation $WAT

Health Care · Life Sciences Tools & Services · NYSE/NASDAQ

S&P 500 Russell 1000 Massachusetts
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$442.83
+8.56 (+1.97%)
As of Oct 21, 2026, 6:26 AM EDT
Price history
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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Aug 5, 2026, the first target we tracked for WAT.

Key facts

52-week range (closes)
$283.32 – $443.26 Lowest close Mar 12, 2026, highest Sep 29, 2026; 251 daily closes to Oct 13, 2026 from Dalsna Finance's price archive
Next earnings
Nov 3, 2026, before the open · EPS forecast $3.99 Nasdaq earnings calendar, as of Oct 21, 2026
Fiscal year ends
December Fiscal 2025 ended Dec 31, 2025, from SEC filings
In the S&P 500 since
Jan 2, 2002 · All S&P 500 changes
Analyst coverage
1 open price target from 1 firm: TD Cowen Approved targets tracked here; see the analyst section below

Waters Corporation (WAT) is trading up at $442.83 (+1.97%) on NYSE/NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Health Care sector.

Analyst price targets on WAT

One firm's current price target on Waters Corporation: $475 — 7% above the current $443. Each is tracked to its date and scored the same way a member's call is.

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Waters Corporation revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)
$3.17B$1.58B$0FY2016 revenue: $2.17BFY2016 net income: $521.5M · Net margin 24.1%'16FY2017 revenue: $2.31BFY2017 net income: $20.3M · Net margin 0.9%'17FY2018 revenue: $2.42BFY2018 net income: $593.8M · Net margin 24.5%'18FY2019 revenue: $2.41BFY2019 net income: $592.2M · Net margin 24.6%'19FY2020 revenue: $2.37BFY2020 net income: $521.6M · Net margin 22.1%'20FY2021 revenue: $2.79BFY2021 net income: $692.8M · Net margin 24.9%'21FY2022 revenue: $2.97BFY2022 net income: $707.8M · Net margin 23.8%'22FY2023 revenue: $2.96BFY2023 net income: $642.2M · Net margin 21.7%'23FY2024 revenue: $2.96BFY2024 net income: $637.8M · Net margin 21.6%'24FY2025 revenue: $3.17BFY2025 net income: $642.6M · Net margin 20.3%'250%10%20%30%FY2016 net margin: 24.1%FY2017 net margin: 0.9%FY2018 net margin: 24.5%FY2019 net margin: 24.6%FY2020 net margin: 22.1%FY2021 net margin: 24.9%FY2022 net margin: 23.8%FY2023 net margin: 21.7%FY2024 net margin: 21.6%FY2025 net margin: 20.3%
Waters Corporation annual financial statements
FY2016Dec 2016FY2017Dec 2017FY2018Dec 2018FY2019Dec 2019FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$2.17B$2.31B$2.42B$2.41B$2.37B$2.79B$2.97B$2.96B$2.96B$3.17B
Growth (year over year)+6.1%+6.5%+4.8%−0.6%−1.7%+17.8%+6.7%−0.5%+0.1%+7.0%
Gross profit$1.28B$1.36B$1.43B$1.40B$1.36B$1.63B$1.72B$1.76B$1.76B$1.88B
Gross margin58.9%59.0%59.0%58.0%57.4%58.5%58.0%59.6%59.4%59.3%
Operating income$625.0M$662.2M$739.8M$708.5M$645.5M$821.7M$873.4M$817.7M$826.4M$802.6M
Operating margin28.8%28.7%30.6%29.4%27.3%29.5%29.4%27.7%27.9%25.4%
Net income$521.5M$20.3M$593.8M$592.2M$521.6M$692.8M$707.8M$642.2M$637.8M$642.6M
Net margin24.1%0.9%24.5%24.6%22.1%24.9%23.8%21.7%21.6%20.3%
EPS (diluted)$6.41$0.25$7.65$8.69$8.36$11.17$11.73$10.84$10.71$10.76
Balance sheet
Cash and equivalents$505.6M$642.3M$796.3M$335.7M$436.7M$501.2M$480.5M$395.1M$325.4M$588.0M
Total assets$4.66B$5.32B$3.73B$2.56B$2.84B$3.09B$3.28B$4.63B$4.55B$5.08B
Total liabilities$2.36B$3.09B$2.16B$2.77B$2.61B$2.73B$2.78B$3.48B$2.73B$2.52B
Long-term debt$1.70B$1.90B$1.15B$1.58B$1.21B$1.51B$1.52B$2.31B$1.63B$947.0M
Shareholders' equity$2.30B$2.23B$1.57B−$216.3M$232.1M$367.6M$504.5M$1.15B$1.83B$2.56B
Cash flow
Operating cash flow$642.9M$697.6M$604.4M$643.1M$790.5M$747.3M$611.7M$602.8M$762.1M$652.6M
Capital expenditure———————$160.6M$142.5M$112.7M
Free cash flow———————$442.2M$619.6M$539.8M
Share buybacks$325.8M$332.5M$1.32B$2.47B$196.4M$648.9M$626.1M$70.3M$13.5M$14.7M

From Waters Corporation's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Waters Corporation vs the Health Care sector and the S&P 500

Waters Corporation's latest reported figures next to the median of the other 59 S&P 500 Health Care companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Waters Corporation compared with the median Health Care company and the median S&P 500 company
MeasureWaters CorporationHealth Care (59 other S&P 500 companies)S&P 500 (502 other companies)
Revenue growth, latest fiscal year+7.0%+7.2%+7.0%
Net margin, latest fiscal year20.3%12.9%12.9%
Share price change, 1 year+26.8%+20.7%+6.6%

Waters Corporation: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 21, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Waters Corporation included, are the last regular-session prices of October 20, 2026; the 1-year change compares that price with each company's last close on or before October 21, 2025. Net margin and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 59/496, net margin 59/496, 1-year price change 59/488; the reasons below can overlap. 14 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Waters Corporation

Waters Corporation is an American company headquartered in Milford, Massachusetts that provides analytical instruments and software used for chromatography, mass spectrometry, laboratory informatics, and rheometry by the life sciences, materials, and food industries.

Source: Wikipedia — Waters Corporation

Headquarters
Milford, Massachusetts From SEC filings, Oct 2026

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