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Price / book at other companies

Thermo Fisher Scientific logo
Thermo Fisher ScientificTMO
3.5×-0.3×
Danaher logo
DanaherDHR
2.5×-0.4×
Agilent Technologies logo
Agilent TechnologiesA
4.6×-0.4×
Veralto logo
VeraltoVLTO
7.2×-3.3×
Ecolab logo
EcolabECL
7.5×-0.6×
IDEX logo
IDEXIEX
3.5×0.0×

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 price / book?
Waters Corporation (WAT) reported price / book of 1.9× in Q1 2026.
How has Waters Corporation's price / book changed year-over-year?
Waters Corporation's price / book decreased by 82.9% year-over-year, from 11.2× to 1.9×.
What is the long-term trend for Waters Corporation's price / book?
Over 4 years (2021 to 2025), Waters Corporation's price / book has grown at a -40.1% compound annual growth rate (CAGR), from 289.5× to 37.2×.
What does price / book mean?
How the market price compares to the company's accounting net worth.
How do you interpret price / book?
Below 1.0 can flag a market discount to book value (common for distressed or asset-heavy firms); high values reflect intangible value the balance sheet doesn't capture. Most informative for financials and asset-heavy businesses.
How does price / book compare across companies?
A core valuation gauge for banks and insurers; weak for asset-light firms where book value understates economic value.