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

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	236.5%-2.0pp	238.5%+3.3pp	235.2%+2.9pp	232.3%-1.4pp
Operating margin	107.9%-0.9pp	108.8%-4.1pp	112.9%-4.0pp	116.9%-2.0pp
Net margin	84.9%+0.4pp	84.5%-4.8pp	89.3%-6.9pp	96.2%-3.3pp
EBITDA margin	119.3%-1.5pp	120.8%-2.6pp	123.4%-3.5pp	126.9%-2.7pp
Free cash flow margin	77.5%-2.9pp	80.4%+22.2pp	58.3%-9.1pp	67.4%-28.8pp
Returns
Return on equity	140%-72.0pp	212%-224pp	436.1%-376pp	812.4%—
Return on assets	56%-0.4pp	56.4%-16.6pp	73%-17.1pp	90.1%-1.1pp
Return on invested capital	91%-4.1pp	95.1%-43.4pp	138.5%-61.2pp	199.6%-13.7pp
Efficiency
Asset turnover	2.6×0.0×	2.7×-0.6×	3.3×-0.5×	3.7×+0.1×
Inventory turnover	9.5×+0.4×	9.1×-1.3×	10.4×-2.2×	12.6×-0.4×
Liquidity
Current ratio	6.8×-1.3×	8.2×-0.5×	8.7×-0.1×	8.8×-0.7×
Quick ratio	4.8×-0.8×	5.6×-0.4×	6×-0.5×	6.5×-1.0×
Cash ratio	1.6×0.0×	1.6×-0.3×	2×-0.5×	2.5×-0.6×
Leverage
Debt-to-equity	2.2×-3.1×	5.3×-5.6×	10.9×-4.4×	15.3×-8.5×
Debt-to-assets	1×-0.7×	1.7×-0.4×	2.1×+0.1×	2×-0.1×
Net debt / EBITDA	3.2×-4.1×	7.4×-0.9×	8.3×+3.5×	4.8×-0.4×
Interest coverage	45.8×+14.7×	31.1×-17.0×	48.1×-26.2×	74.3×+3.9×
Per Share
Book value per share	$151.02+47.3%	$102.50+77.1%	$57.87+110%	$27.50+46.6%
Valuation
Market capitalization	$83B+2.5%	$80.96B+16.3%	$69.64B-7.4%	$75.21B-9.4%
Enterprise value	$85.97B-1.7%	$87.42B+13.2%	$77.22B-3.0%	$79.63B-9.0%
Price / earnings	127.3×-4.2×	131.5×+26.5×	104.9×-2.1×	107×-17.3×
Price / sales	27×-0.8×	27.8×+4.4×	23.4×-2.3×	25.7×-5.2×
Price / book	37.2×-16.6×	53.8×-31.9×	85.6×-97.5×	183.2×-106×
EV / EBITDA	93.9×-5.4×	99.3×+15.2×	84.1×-1.8×	85.9×-14.9×
EV / sales	28×-2.0×	30×+4.1×	25.9×-1.3×	27.3×-5.4×
Free cash flow yield	11.6%-0.1pp	11.6%+1.6pp	10%-0.6pp	10.6%-2.0pp
Earnings yield	12.7%+0.4pp	12.2%-3.2pp	15.4%+0.3pp	15.1%+2.2pp
PEG ratio	64.2×—	——	——	99.5×+94.6×

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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.