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
EBITDA margin	18.7%-9.4pp	28.1%-1.3pp	29.4%-1.1pp	30.5%-0.7pp	31.2%+0.3pp
Free cash flow margin	7%-10.1pp	17.1%-2.3pp	19.4%-0.9pp	20.3%-0.4pp	20.8%-0.2pp
Returns
Return on equity	5.2%-24.0pp	29.3%-3.7pp	33%-4.0pp	37%-3.8pp	40.8%-2.0pp
Return on assets	3.1%-10.3pp	13.3%-0.5pp	13.8%-0.6pp	14.4%0.0pp	14.4%+0.5pp
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×
Quick ratio	1.1×-0.1×	1.3×+0.2×	1.1×-0.1×	1.2×-0.1×	1.3×-0.2×
Cash ratio	0.2×-0.3×	0.5×+0.1×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Leverage
Debt-to-equity	0.3×-0.1×	0.4×0.0×	0.4×-0.2×	0.6×-0.1×	0.7×-0.2×
Debt-to-assets	0.2×0.0×	0.2×0.0×	0.2×-0.1×	0.3×0.0×	0.3×-0.1×
Net debt / EBITDA	6.7×+6.2×	0.5×-0.1×	0.6×-0.4×	1×-0.2×	1.1×-0.4×
Interest coverage	5.8×-5.7×	11.6×+0.4×	11.1×-1.1×	12.3×+1.5×	10.8×+1.6×
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%
Enterprise value	$33.96B+47.3%	$23.06B+25.2%	$18.41B-14.6%	$21.55B-6.1%	$22.95B-1.9%
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×
EV / sales	9×+1.7×	7.3×+1.4×	5.9×-1.1×	7.1×-0.6×	7.7×-0.2×
Free cash flow yield	0.9%-1.5pp	2.4%-1.0pp	3.4%+0.4pp	3%+0.2pp	2.8%0.0pp
Earnings yield	1.5%-1.3pp	2.8%-0.8pp	3.6%+0.4pp	3.2%+0.2pp	3%+0.1pp

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Waters Corporation.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

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.