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Net margin at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
15.2%+1.0pp
Danaher logo
DanaherDHR
14.9%-0.9pp
Mettler-Toledo International, Inc. logo
Mettler-Toledo International, Inc.MTD
21.4%-0.8pp
Agilent Technologies logo
Agilent TechnologiesA
19.6%+2.0pp
Veralto logo
VeraltoVLTO
17.3%+0.8pp
Ecolab logo
EcolabECL
12.8%-0.6pp

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

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 net margin?
Waters Corporation (WAT) reported net margin of 11.9% in Q1 2026.
How has Waters Corporation's net margin changed year-over-year?
Waters Corporation's net margin decreased by 45.9% year-over-year, from 22% to 11.9%.
What is the long-term trend for Waters Corporation's net margin?
Over 4 years (2021 to 2025), Waters Corporation's net margin has grown at a -3.9% compound annual growth rate (CAGR), from 99.6% to 84.9%.
What does net margin mean?
The share of every sales dollar that becomes bottom-line profit.
How do you interpret net margin?
Higher is better, but net margin mixes operating performance with financing and tax effects and one-off items — read it alongside operating margin to separate the operating story from the rest.
How does net margin compare across companies?
Comparable across peers but sensitive to leverage and tax structure; two operationally identical firms can show different net margins purely from financing.