What are Waters Corporation's profit margins?

Waters Corporation (WAT) runs a 59.3% gross margin and a 16.0% operating margin, with a 11.9% net margin.

Where do Waters Corporation's ratios come from?

Every ratio is computed from Waters Corporation's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Waters Corporation WAT Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	16%-9.3pp	25.4%-1.2pp	26.5%-1.1pp	27.7%-0.6pp	28.3%+0.4pp
Net margin	11.9%-8.4pp	20.3%-0.6pp	20.9%-0.8pp	21.7%-0.3pp	22%+0.4pp
Returns
Return on equity	5.2%-24.0pp	29.3%-3.7pp	33%-4.0pp	37%-3.8pp	40.8%-2.0pp
Return on invested capital	4.5%-17.5pp	22%-0.9pp	22.9%+0.4pp	22.6%-0.9pp	23.5%+1.5pp
Efficiency
Asset turnover	0.3×-0.4×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×0.0×
Liquidity
Current ratio	1.8×+0.1×	1.7×+0.2×	1.5×-0.2×	1.8×-0.1×	1.8×-0.3×
Leverage
Debt-to-equity	0.3×-0.1×	0.4×0.0×	0.4×-0.2×	0.6×-0.1×	0.7×-0.2×
Net debt / EBITDA	6.7×+6.2×	0.5×-0.1×	0.6×-0.4×	1×-0.2×	1.1×-0.4×
Per Share
Book value per share	$186.17+334%	$42.87+9.7%	$39.09+8.0%	$36.20+10.2%	$32.86+7.2%
Valuation
Market capitalization	$29.21B+29.2%	$22.62B+26.7%	$17.85B-13.5%	$20.64B-5.8%	$21.9B-0.6%
Price / earnings	65×+29.8×	35.2×+7.7×	27.5×-3.7×	31.2×-2.1×	33.3×-1.2×
Price / sales	7.7×+0.6×	7.1×+1.4×	5.7×-1.0×	6.8×-0.6×	7.3×-0.1×
Price / book	1.9×-6.9×	8.8×+1.2×	7.7×-1.9×	9.6×-1.6×	11.2×-0.9×
EV / EBITDA	48.1×+22.2×	25.9×+5.7×	20.2×-3.0×	23.2×-1.5×	24.6×-1.0×

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Questions, answered.

What are Waters Corporation's profit margins?: Waters Corporation (WAT) runs a 59.3% gross margin and a 16.0% operating margin, with a 11.9% net margin.
Where do Waters Corporation's ratios come from?: Every ratio is computed from Waters Corporation's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.