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Waters Corporation WAT Free cash flow margin

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Other financials

Income statement

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Revenue$1.6B+113%
Gross profit$569.5M+8.6%
Operating income-$86.0M-146%
Net income$136.0M-7.6%
EPS (diluted)$1.39-43.7%

Balance sheet

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Cash & equivalents$539.0M+46.8%
Total debt$5.1B+298%
Total equity$15.2B+604%
Total assets$24.8B+425%

Cash flow

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Operating cash flow$200.0M+391%
CapEx-$49.0M-319%
Free cash flow$151.0M+723%

Valuation

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Market cap$37.05B+118%
Enterprise value$41.59B+132%
P/E84.6×+58.8×
P/S+2.4×

Profitability

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Gross margin59.3%-0.1pp
Operating margin7.1%-20.6pp
Net margin9.4%-12.3pp

Returns & leverage

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Return on equity5%-32.0pp
Debt / equity0.3×-0.3×
Current ratio1.8×0.0×

Where this comes from

Calculated from Waters Corporation’s reported figures.

Based on trailing twelve months.

The source filing: Waters Corporation’s 8-K, filed August 4, 2026. Open the filing →

Filed
Aug 4, 2026, 6:10 AM EDT
Accession
0001193125-26-331413

FAQ

What is Waters Corporation's free cash flow margin?
Waters Corporation (WAT) reported free cash flow margin of 8.5% in Q2 2026.
How has Waters Corporation's free cash flow margin changed year-over-year?
Waters Corporation's free cash flow margin decreased by 58.0% year-over-year, from 20.3% to 8.5%.
What is the long-term trend for Waters Corporation's free cash flow margin?
Over 5 years (2020 to 2025), Waters Corporation's free cash flow margin has grown at a -8.2% compound annual growth rate (CAGR), from 26.1% to 17.1%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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