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

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	95.6%-12.3pp	107.9%-2.6pp	110.5%-0.9pp	111.4%+1.0pp	110.4%+1.6pp
Net margin	74.8%-10.1pp	84.9%-1.3pp	86.1%-0.6pp	86.7%+1.0pp	85.7%+1.3pp
EBITDA margin	106.8%-12.5pp	119.3%-2.7pp	122%-1.1pp	123.1%+0.8pp	122.3%+1.5pp
Free cash flow margin	63.8%-13.8pp	77.5%-3.9pp	81.4%-2.0pp	83.4%+0.8pp	82.6%+2.1pp
Returns
Return on equity	104.4%-35.6pp	140%-13.6pp	153.6%-16.7pp	170.3%-17.6pp	187.8%-24.2pp
Return on assets	44.7%-11.3pp	56%-0.6pp	56.6%0.0pp	56.6%+1.2pp	55.4%-1.0pp
Return on invested capital	72%-19.0pp	91%0.0pp	91%+0.8pp	90.2%+1.1pp	89.1%-6.0pp
Efficiency
Asset turnover	2.2×-0.4×	2.6×0.0×	2.6×0.0×	2.6×0.0×	2.6×-0.1×
Liquidity
Current ratio	6.8×0.0×	6.8×-0.4×	7.2×-0.5×	7.7×-0.3×	8×-0.1×
Quick ratio	4.7×-0.1×	4.8×-0.2×	5.1×-0.3×	5.4×-0.2×	5.6×0.0×
Cash ratio	1.4×-0.2×	1.6×+0.1×	1.5×0.0×	1.6×-0.1×	1.6×0.0×
Leverage
Debt-to-equity	1.8×-0.4×	2.2×-0.5×	2.7×-0.7×	3.4×-0.9×	4.3×-0.9×
Debt-to-assets	0.9×-0.1×	1×-0.2×	1.2×-0.2×	1.4×-0.2×	1.6×-0.2×
Net debt / EBITDA	8.8×+5.6×	3.2×-1.0×	4.2×-1.2×	5.4×-1.1×	6.5×-0.9×
Interest coverage	40.8×-5.0×	45.8×+2.4×	43.4×+3.3×	40.2×+5.3×	34.8×+3.7×
Per Share
Book value per share	$304.34+102%	$151.02+8.8%	$138.82+9.6%	$126.67+10.9%	$114.21+11.4%
Valuation
Market capitalization	$90.32B+8.8%	$83B+0.7%	$82.41B-4.1%	$85.92B+4.2%	$82.46B+1.9%
Enterprise value	$96.99B+12.8%	$85.97B-0.4%	$86.32B-5.0%	$90.83B+2.9%	$88.23B+0.9%
Price / earnings	159×+31.7×	127.3×+0.7×	126.6×-6.8×	133.4×+2.4×	131×-0.4×
Price / sales	27.4×+0.4×	27×-0.3×	27.3×-1.6×	28.9×+0.8×	28.1×+0.3×
Price / book	28×-9.3×	37.2×-3.2×	40.4×-5.7×	46.1×-2.6×	48.7×-5.1×
EV / EBITDA	117.3×+23.5×	93.9×+0.3×	93.6×-5.7×	99.3×+1.0×	98.3×-1.0×
EV / sales	29.3×+1.3×	28×-0.6×	28.6×-2.0×	30.6×+0.5×	30.1×+0.1×
Free cash flow yield	9.7%-1.9pp	11.6%-0.4pp	12%+0.5pp	11.5%-0.3pp	11.8%+0.2pp
Earnings yield	11.2%-1.5pp	12.7%-0.1pp	12.7%+0.7pp	12%-0.3pp	12.3%0.0pp

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.