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Waters Corporation WAT Net debt / EBITDA

Net debt / EBITDA at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
3.2×-0.2×
Danaher logo
DanaherDHR
1.9×-0.2×
Mettler-Toledo International, Inc. logo
Mettler-Toledo International, Inc.MTD
1.8×+0.1×
Agilent Technologies logo
Agilent TechnologiesA
0.9×-0.3×
Veralto logo
VeraltoVLTO
-0.2×
Ecolab logo
EcolabECL
-0.1×0.0×

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
Debt / equity0.3×-0.4×
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 net debt / EBITDA?
Waters Corporation (WAT) reported net debt / EBITDA of 6.7× in Q1 2026.
How has Waters Corporation's net debt / EBITDA changed year-over-year?
Waters Corporation's net debt / EBITDA increased by 494.6% year-over-year, from 1.1× to 6.7×.
What is the long-term trend for Waters Corporation's net debt / EBITDA?
Over 4 years (2021 to 2025), Waters Corporation's net debt / EBITDA has grown at a -11.3% compound annual growth rate (CAGR), from 5.2× to 3.2×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.