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Waters Corporation WAT Q2 2025 earnings

Reported August 4, 2025 · Before market open

Revenue$771.3MBeat by $22.7M
EPS$2.95Beat by $0.01
Revenue estimate$748.7M
EPS estimate$2.94

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$1.8B
EPS estimate$4.01

Financials

Q2 2025

Income statement

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Revenue$771.0M+8.8%
Gross profit$449.6M+7.0%
Operating income$188.0M-0.6%
Net income$147.0M+3.0%
EPS (diluted)$2.47+2.9%

Balance sheet

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Cash & equivalents$367.2M+12.5%
Total debt$1.3B-38.8%
Total equity$2.2B+53.0%
Total assets$4.7B+6.0%

Cash flow

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Operating cash flow$41.0M-24.8%
CapEx$23.0M-36.3%
Free cash flow$18.0M-2.3%

Valuation & ratios

Valuation

as of 06/28/25
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Market cap$20.64B+20.1%
Enterprise value$21.55B+13.7%
P/E31.2×+2.4×
P/S6.8×+0.8×

Profitability

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Gross margin59%-0.7pp
Operating margin27.7%+1.0pp
Net margin21.7%+1.0pp
FCF margin20.3%+0.8pp

Returns & leverage

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Return on equity37%-17.6pp
Debt / equity0.6×-0.9×
Current ratio1.8×-0.3×

Segments

By geography

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Americas$280.0M+2.0%
Asia Pacific$266.0M+12.0%
Asia Other$149.0M+8.5%
Americas Other$51.0M+19.9%

By product

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Service$298.0M+9.0%

FAQ

When did Waters Corporation report Q2 2025 earnings?
Waters Corporation (WAT) reported Q2 2025 earnings on August 4, 2025 before market open.
What were Waters Corporation's Q2 2025 revenue and EPS?
Waters Corporation reported revenue of $771.3M and eps of $2.95 for Q2 2025.
Did Waters Corporation beat estimates in Q2 2025?
Revenue beat the consensus estimate of $748.7M by $22.7M. EPS beat the consensus estimate of $2.94 by $0.01.
How did Waters Corporation's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.9% from $708.5M a year earlier and eps grew 12.2% from $2.63.
Where can I find Waters Corporation's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-172076) and the 10-Q periodic report (0001193125-25-172087) directly on SEC EDGAR. The filing index links above go to sec.gov.