What is Waters Corporation's gross profit?

Waters Corporation (WAT) reported gross profit of $569.5M in Q4 2025.

How has Waters Corporation's gross profit changed year-over-year?

Waters Corporation's gross profit increased by 8.6% year-over-year, from $524.2M to $569.5M.

What is the long-term trend for Waters Corporation's gross profit?

Over 4 years (2021 to 2025), Waters Corporation's gross profit has grown at a 3.6% compound annual growth rate (CAGR), from $1.63B to $1.88B.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

Waters Corporation WAT Gross Profit

Discontinued — last reported Q4 '25

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——

Other financials

Income statement

See full

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$36.76B+78.1%

Enterprise value$41.51B+92.6%

P/E81.8×+50.6×

P/S9.8×+3.0×

Profitability

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Gross margin59.3%-0.1pp

Operating margin16%-12.3pp

Net margin11.9%-10.1pp

FCF margin7%-13.8pp

Returns & leverage

See full

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.

$932.4Mtotal revenue−$362.9Mtotal cost of revenue=$569.5M

The official record: Waters Corporation’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waters Corporation's gross profit?: Waters Corporation (WAT) reported gross profit of $569.5M in Q4 2025.
How has Waters Corporation's gross profit changed year-over-year?: Waters Corporation's gross profit increased by 8.6% year-over-year, from $524.2M to $569.5M.
What is the long-term trend for Waters Corporation's gross profit?: Over 4 years (2021 to 2025), Waters Corporation's gross profit has grown at a 3.6% compound annual growth rate (CAGR), from $1.63B to $1.88B.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.