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Waters Corporation WAT Q1 2025 earnings

Reported May 6, 2025 · Before market open

Revenue$661.7MBeat by $6.9MDiluted EPS$2.25Beat by $0.03
Revenue estimate$654.8M
EPS estimate$2.22

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$1.6B
EPS estimate$3.00

Financials

Q1 2025

Income statement

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Revenue$662.0M+4.0%
Gross profit$385.3M+2.7%
Operating income$152.0M+13.6%
Net income$121.0M+18.4%
EPS (diluted)$2.03+18.0%

Balance sheet

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Cash & equivalents$382.9M+13.5%
Total debt$1.4B-31.2%
Total equity$2.0B+56.1%
Total assets$4.6B+1.8%

Cash flow

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Operating cash flow$260.0M-1.1%
CapEx$26.0M-9.3%
Free cash flow$234.0M-0.1%

Valuation & ratios

Valuation

as of 03/29/25
See full
Market cap$21.9B+7.4%
Enterprise value$22.95B+3.7%
P/E33.3×-0.4×
P/S7.3×+0.3×

Profitability

See full
Gross margin59.3%-0.4pp
Operating margin28.3%+1.6pp
Net margin22%+1.3pp
FCF margin20.8%+2.1pp

Returns & leverage

See full
Return on equity40.8%-24.2pp
Debt / equity0.7×-0.9×
Current ratio1.8×-0.1×

Segments

By geography

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Americas$256.0M+6.1%
Asia Pacific$221.0M+6.5%
Asia Other$130.0M+6.7%
Americas Other$40.0M+4.4%

By product

See full
Service$261.0M+0.1%

Versus estimates

Revenue

Q2 2026$1.3BBeat by $63.8MQ4 2025$932.4MBeat by $4.0MQ3 2025$799.9MBeat by $18.9MQ2 2025$771.3MBeat by $22.7M
Q1 2025$661.7MBeat by $6.9M
Q4 2024$872.7MBeat by $15.7M

Diluted EPS

Q2 2026$2.70Beat by $0.39Q4 2025$4.53Beat by $0.02Q3 2025$3.40Beat by $0.19Q2 2025$2.95Beat by $0.01
Q1 2025$2.25Beat by $0.03
Q4 2024$4.10Beat by $0.07

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Questions, answered.

When did Waters Corporation report Q1 2025 earnings?
Waters Corporation (WAT) reported Q1 2025 earnings on May 6, 2025 before market open.
What were Waters Corporation's Q1 2025 revenue and EPS?
Waters Corporation reported revenue of $661.7M and diluted EPS of $2.25 for Q1 2025.
Did Waters Corporation beat estimates in Q1 2025?
Revenue beat the consensus estimate of $654.8M by $6.9M. EPS beat the consensus estimate of $2.22 by $0.03.
How did Waters Corporation's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 3.9% from $636.8M a year earlier and diluted EPS grew 1.8% from $2.21.
Where can I find Waters Corporation's Q1 2025 SEC filings?
You can read the 10-Q periodic report (0001193125-25-113274) directly on SEC EDGAR. The filing index links above go to sec.gov.