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Waters Corporation WAT Q4 2025 Annual earnings

Reported February 9, 2026 · Before market open

Revenue$932.4MBeat by $4.0M
EPS$4.53Beat by $0.02
Revenue estimate$928.3M
EPS estimate$4.51

Next report

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

Financials

Q4 2025

Income statement

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Revenue$932.4M+6.8%
Gross profit$569.5M+8.6%
Operating income$270.5M-7.4%
Net income$225.2M-2.7%
EPS (diluted)$3.77-2.8%

Balance sheet

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Cash & equivalents$588.0M+80.7%
Total debt$1.0B-39.4%
Total equity$2.6B+40.1%
Total assets$5.1B+11.5%

Cash flow

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Operating cash flow$164.6M-31.5%
CapEx$39.0M-25.2%
Free cash flow$125.6M-33.2%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$22.62B+2.7%
Enterprise value$23.06B-1.5%
P/E35.2×+0.7×
P/S7.1×-0.3×

Profitability

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Gross margin59.3%-0.1pp
Operating margin25.4%-2.6pp
Net margin20.3%-1.3pp
FCF margin17.1%-3.9pp

Returns & leverage

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Return on equity29.2%-13.6pp
Debt / equity0.4×-0.5×
Current ratio1.7×-0.4×

Segments

By geography

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Americas$332.4M+3.6%
Asia Pacific$284.0M+4.1%
Asia Other$168.0M+3.6%
Americas Other$57.3M-1.3%

By product

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Service$329.2M+9.0%

FAQ

When did Waters Corporation report Q4 2025 earnings?
Waters Corporation (WAT) reported Q4 2025 earnings on February 9, 2026 before market open.
What were Waters Corporation's Q4 2025 revenue and EPS?
Waters Corporation reported revenue of $932.4M and eps of $4.53 for Q4 2025.
Did Waters Corporation beat estimates in Q4 2025?
Revenue beat the consensus estimate of $928.3M by $4.0M. EPS beat the consensus estimate of $4.51 by $0.02.
How did Waters Corporation's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.8% from $872.7M a year earlier and eps grew 10.5% from $4.10.
Where can I find Waters Corporation's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-041897) and the 10-K periodic report (0001193125-26-062604) directly on SEC EDGAR. The filing index links above go to sec.gov.