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%-12.3pp	25.4%-2.6pp	26.5%-0.9pp	27.7%+1.0pp	28.3%+1.6pp
Net margin	11.9%-10.1pp	20.3%-1.3pp	20.9%-0.6pp	21.7%+1.0pp	22%+1.3pp
EBITDA margin	18.7%-12.5pp	28.1%-2.7pp	29.4%-1.1pp	30.5%+0.8pp	31.2%+1.5pp
Free cash flow margin	7%-13.8pp	17.1%-3.9pp	19.4%-2.0pp	20.3%+0.8pp	20.8%+2.1pp
Returns
Return on equity	5.2%-35.6pp	29.3%-13.6pp	33%-16.7pp	37%-17.6pp	40.8%-24.2pp
Return on assets	3.1%-11.3pp	13.3%-0.6pp	13.8%0.0pp	14.4%+1.2pp	14.4%-1.0pp
Return on invested capital	4.5%-19.0pp	22%0.0pp	22.9%+0.8pp	22.6%+1.1pp	23.5%-6.0pp
Efficiency
Asset turnover	0.3×-0.4×	0.7×0.0×	0.7×0.0×	0.7×0.0×	0.7×-0.1×
Liquidity
Current ratio	1.8×0.0×	1.7×-0.4×	1.5×-0.5×	1.8×-0.3×	1.8×-0.1×
Quick ratio	1.1×-0.1×	1.3×-0.2×	1.1×-0.3×	1.2×-0.2×	1.3×0.0×
Cash ratio	0.2×-0.2×	0.5×+0.1×	0.4×0.0×	0.4×-0.1×	0.4×0.0×
Leverage
Debt-to-equity	0.3×-0.4×	0.4×-0.5×	0.4×-0.7×	0.6×-0.9×	0.7×-0.9×
Debt-to-assets	0.2×-0.1×	0.2×-0.2×	0.2×-0.2×	0.3×-0.2×	0.3×-0.2×
Net debt / EBITDA	6.7×+5.6×	0.5×-1.0×	0.6×-1.2×	1×-1.1×	1.1×-0.9×
Interest coverage	5.8×-5.0×	11.6×+2.4×	11.1×+3.3×	12.3×+5.3×	10.8×+3.7×
Per Share
Book value per share	$186.17+467%	$42.87+39.8%	$39.09+45.1%	$36.20+52.4%	$32.86+55.4%
Valuation
Market capitalization	$29.21B+33.4%	$22.62B+2.7%	$17.85B-16.4%	$20.64B+20.1%	$21.9B+7.4%
Enterprise value	$33.96B+48.0%	$23.06B-1.5%	$18.41B-19.7%	$21.55B+13.7%	$22.95B+3.7%
Price / earnings	65×+31.7×	35.2×+0.7×	27.5×-6.8×	31.2×+2.4×	33.3×-0.4×
Price / sales	7.7×+0.4×	7.1×-0.3×	5.7×-1.6×	6.8×+0.8×	7.3×+0.3×
Price / book	1.9×-9.3×	8.8×-3.2×	7.7×-5.7×	9.6×-2.6×	11.2×-5.1×
EV / EBITDA	48.1×+23.5×	25.9×+0.3×	20.2×-5.7×	23.2×+1.0×	24.6×-1.0×
EV / sales	9×+1.3×	7.3×-0.6×	5.9×-2.0×	7.1×+0.5×	7.7×+0.1×
Free cash flow yield	0.9%-1.9pp	2.4%-0.4pp	3.4%+0.5pp	3%-0.3pp	2.8%+0.2pp
Earnings yield	1.5%-1.5pp	2.8%-0.1pp	3.6%+0.7pp	3.2%-0.3pp	3%0.0pp

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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.