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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-193%
EPS (diluted)-$1.39-156%

Balance sheet

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Cash & equivalents$539.0M+46.8%
Total debt$5.3B+311%
Total equity$15.2B+603%
Total assets$24.8B+425%

Cash flow

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Operating cash flow$201.0M+390%
CapEx$48.0M+109%

Valuation

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Market cap$40.69B+132%
Enterprise value$45.41B+146%
P/E244.9×+218×
P/S8.8×+3.0×

Profitability

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Gross margin59.3%-0.1pp
Operating margin7.1%-20.6pp
Net margin3.6%-18.1pp
FCF margin8.6%-11.7pp

Returns & leverage

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Return on equity1.9%-35.1pp
Debt / equity0.3×-0.2×
Current ratio1.9×+0.1×

Where this comes from

Calculated from Waters Corporation’s reported figures.

The source filing: Waters Corporation’s 10-Q, filed August 11, 2026. Open the filing →

Filed
Aug 11, 2026, 4:16 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-344691

FAQ

What is Waters Corporation's free cash flow?
Waters Corporation (WAT) reported free cash flow of $153M in Q2 2026.
How has Waters Corporation's free cash flow changed year-over-year?
Waters Corporation's free cash flow increased by 750.0% year-over-year, from $18M to $153M.
What is the long-term trend for Waters Corporation's free cash flow?
Over 4 years (2021 to 2025), Waters Corporation's free cash flow has grown at a -2.0% compound annual growth rate (CAGR), from $586.01M to $539.81M.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

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