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Waters Corporation WAT Free cash flow yield

Free cash flow yield at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
3.7%+0.1pp
Danaher logo
DanaherDHR
3.9%+0.6pp
Mettler-Toledo International, Inc. logo
Mettler-Toledo International, Inc.MTD
3.1%-0.4pp
Agilent Technologies logo
Agilent TechnologiesA
3.3%-0.6pp
Veralto logo
VeraltoVLTO
4.8%+1.2pp
Ecolab logo
EcolabECL
2.5%+0.4pp

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
Debt / equity0.3×-0.4×
Current ratio1.8×0.0×

Where this comes from

Calculated from Waters Corporation’s reported figures.

Based on trailing twelve months.

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 free cash flow yield?
Waters Corporation (WAT) reported free cash flow yield of 0.9% in Q1 2026.
How has Waters Corporation's free cash flow yield changed year-over-year?
Waters Corporation's free cash flow yield decreased by 68.1% year-over-year, from 2.8% to 0.9%.
What is the long-term trend for Waters Corporation's free cash flow yield?
Over 4 years (2021 to 2025), Waters Corporation's free cash flow yield has grown at a -2.0% compound annual growth rate (CAGR), from 12.6% to 11.6%.
What does free cash flow yield mean?
The spendable cash the business throws off each year as a percentage of its market price.
How do you interpret free cash flow yield?
Higher yield can mean better value — you pay less for each dollar of cash generated. A useful sanity check against earnings-based multiples, which non-cash items can distort.
How does free cash flow yield compare across companies?
Comparable across cash-generative companies; less meaningful for firms in heavy-investment phases with temporarily negative FCF.