Waters Corporation
Waters Corporation is a global leader in analytical instruments and software, specializing in chromatography, mass spectrometry, and thermal analysis. The company provides high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), and mass spectrometry (MS) systems that enable scientists to detect, identify, and measure the chemical and biological composition of materials. Its value proposition centers on enhancing laboratory productivity and accuracy across life, materials, and food sciences.
Financials
Based on Q1 2026 · FQ2 FY2026 filing
Revenue
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Waters Analytical Sciences
primaryFocuses on high-performance and ultra-performance liquid chromatography and mass spectrometry systems. These integrated systems are used for chemical separation, identification, and quantification in regulated laboratory environments.
ACQUITY UPLC System, Alliance iS HPLC System, Xevo TQ Absolute IVD Mass Spectrometer, SYNAPT G2-S HDMS System, Empower Chromatography Software, waters_connect
Pharmaceutical companies, Biotechnology firms, Contract research organizations, Governmental agencies, Academic institutions
Waters Biosciences
majorFormed following the acquisition of the BD Biosciences and Diagnostic Solutions business, this segment provides immunology and cancer research solutions. It includes flow cytometry instruments, reagents, and multiomics tools for advanced life science research.
Flow cytometry instruments, Reagent systems, Multiomics tools, DynaPro ZetaStar
Clinical laboratories, Cancer research centers, Biopharmaceutical R&D, Academic researchers
Waters Advanced Diagnostics
moderateProvides specialized solutions for clinical diagnostics, including specimen collection and transport systems. The segment focuses on detecting infectious diseases, healthcare-associated infections, and oncology markers.
Diagnostic specimen collection systems, Infectious disease detection reagents, MassTrak IVD LC-MS/MS Systems
Hospitals, Independent commercial laboratories, Public health agencies
Waters Materials Sciences
moderateUtilizes thermal analysis, rheometry, and calorimetry to characterize the physical and thermodynamic properties of materials. These tools predict the stability and suitability of polymers, chemicals, and metals for industrial and consumer applications.
TA Instruments product line, Battery Cycler Microcalorimeter Solution, ElectroForce Apex 1 Mechanical Testing Instrument, Discovery DSC, Discovery TGA
Industrial chemical manufacturers, Polymer and plastic producers, Automotive manufacturers, Electronics companies
Segment Financials
Waters Analytical And Materials Sciences — Goodwill
View metricWaters Analytical And Materials Sciences — Labor And Related Expense
View metricWaters Analytical And Materials Sciences — Cost Direct Labor
View metricWaters Biosciences — Labor And Related Expense
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View metricWaters Biosciences — Goodwill
View metricWaters Advanced Diagnostics — Cost Direct Labor
View metricWaters Advanced Diagnostics — Cost Direct Material
View metricWaters Advanced Diagnostics — Other Expenses
View metricWaters Analytical And Materials Sciences — Cost Direct Material
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Competitive Position
Waters is a leading global manufacturer of LC and LC-MS systems, maintaining a highly differentiated position through its integrated software platforms and direct service organization.
Geographies
United States, Singapore, Ireland, United Kingdom, Global
Customer Segments
Pharmaceutical, Clinical Diagnostics, Industrial, Academic, Governmental
Upstream Dependencies
High temperature alloy sheet metal, Electrical components, Contract manufacturing firms, Silica and polymeric resins
Downstream Customers
Quality assurance laboratories, Drug discovery researchers, Food safety inspectors, Environmental testing agencies
Competitors & Partners
Competitors
Agilent Technologies
A
Direct competitor in LC, MS, and consumables
Thermo Fisher Scientific
TMO
Competitor in analytical instruments and services
Danaher
DHR
Competitor in life sciences and diagnostics
Revvity
RVTY
Competitor in diagnostic solutions and services
Bruker
BRKR
Competitor in mass spectrometry and analytical tools
Partners
U.S. Food and Drug Administration
Regulatory agency that mandates safety and efficacy testing using company products
U.S. Environmental Protection Agency
Governmental agency utilizing analytical instruments for environmental testing
Subsidiaries
TA Instruments
Thermal analysis and rheometry division
Wyatt Technology
Light scattering and nanoparticle analysis specialist
Micromass Limited
Mass spectrometry technology unit
Halo Labs
Specialized imaging technologies for particle analysis
VICAM
Manufacturer of antibody-linked resins and kits
Waters Corporation FAQ
Common questions about Waters Corporation
Waters Corporation is a global leader in analytical instruments and software, specializing in chromatography, mass spectrometry, and thermal analysis. The company provides high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), and mass spectrometry (MS) systems that enable scientists to detect, identify, and measure the chemical and biological composition of materials. Its value proposition centers on enhancing laboratory productivity and accuracy across life, materials, and food sciences.
Waters Corporation (WAT) has a market capitalization of $32.7B and trades on NYSE.
Waters Corporation generated $3.8B in trailing twelve-month revenue with net income of $449.2M, representing a net margin of 11.9%, with free cash flow of $263.8M. These figures are based on the Q1 2026 filing.
Waters Corporation's key competitors include Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Danaher Corporation, and others. These companies compete in similar markets and product categories.
Waters Corporation has approximately 7,900 employees.