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Debt-to-equity at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
0.8×+0.1×
Danaher logo
DanaherDHR
0.4×0.0×
Agilent Technologies logo
Agilent TechnologiesA
0.5×-0.1×
Veralto logo
VeraltoVLTO
-0.3×
Ecolab logo
EcolabECL
0.0×
IDEX logo
IDEXIEX
0.5×0.0×

Other financials

Income statement

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Revenue$1.3B+91.4%
Operating income-$47.0M-131%
Net income-$72.0M-160%
EPS (diluted)-$0.87-143%

Balance sheet

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Cash & equivalents$462.0M+20.7%
Total debt$5.2B+263%
Total equity$15.3B+679%
Total assets$24.5B+434%

Cash flow

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Operating cash flow-$3.0M-101%
CapEx$39.0M+50.0%
Free cash flow-$42.0M-118%

Valuation

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Market cap$35.05B+33.4%
Enterprise value$39.8B+48.0%
P/E78×+38.0×
P/S9.3×+0.5×

Profitability

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Gross margin59.3%-0.1pp
Operating margin16%-12.3pp
Net margin11.9%-10.1pp

Returns & leverage

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Return on equity5.2%-35.6pp
Current ratio1.8×0.0×

Where this comes from

Calculated from Waters Corporation’s reported figures.

Based on the most recent quarter.

The official record: Waters Corporation’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waters Corporation's debt-to-equity?
Waters Corporation (WAT) reported debt-to-equity of 0.3× in Q1 2026.
How has Waters Corporation's debt-to-equity changed year-over-year?
Waters Corporation's debt-to-equity decreased by 53.5% year-over-year, from 0.7× to 0.3×.
What is the long-term trend for Waters Corporation's debt-to-equity?
Over 4 years (2021 to 2025), Waters Corporation's debt-to-equity has grown at a -45.0% compound annual growth rate (CAGR), from 23.7× to 2.2×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.