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%-14.8pp	107.9%-0.9pp	110.5%+2.0pp	111.4%+2.3pp	110.4%-0.5pp
Net margin	74.8%-10.9pp	84.9%+0.4pp	86.1%+1.5pp	86.7%+1.7pp	85.7%-1.1pp
EBITDA margin	106.8%-15.5pp	119.3%-1.5pp	122%+1.6pp	123.1%+2.4pp	122.3%+0.4pp
Free cash flow margin	63.8%-18.8pp	77.5%-2.9pp	81.4%+6.0pp	83.4%+15.3pp	82.6%+20.0pp
Returns
Return on equity	104.4%-83.4pp	140%-72.0pp	153.6%-93.2pp	170.3%-128pp	187.8%-172pp
Return on assets	44.7%-10.7pp	56%-0.4pp	56.6%-2.2pp	56.6%-5.6pp	55.4%-11.3pp
Return on invested capital	72%-17.1pp	91%-4.1pp	91%-11.9pp	90.2%-21.2pp	89.1%-31.8pp
Efficiency
Asset turnover	2.2×-0.3×	2.6×0.0×	2.6×-0.1×	2.6×-0.3×	2.6×-0.5×
Liquidity
Current ratio	6.8×-1.2×	6.8×-1.3×	7.2×-1.1×	7.7×-0.8×	8×-0.4×
Quick ratio	4.7×-0.9×	4.8×-0.8×	5.1×-0.6×	5.4×-0.4×	5.6×-0.2×
Cash ratio	1.4×-0.2×	1.6×0.0×	1.5×-0.2×	1.6×-0.2×	1.6×-0.1×
Leverage
Debt-to-equity	1.8×-2.6×	2.2×-3.1×	2.7×-3.7×	3.4×-4.6×	4.3×-5.7×
Debt-to-assets	0.9×-0.7×	1×-0.7×	1.2×-0.7×	1.4×-0.6×	1.6×-0.6×
Net debt / EBITDA	8.8×+2.3×	3.2×-4.1×	4.2×-3.8×	5.4×-3.3×	6.5×-2.7×
Interest coverage	40.8×+6.0×	45.8×+14.7×	43.4×+13.3×	40.2×+7.6×	34.8×-4.0×
Per Share
Book value per share	$304.34+166%	$151.02+47.3%	$138.82+52.2%	$126.67+59.2%	$114.21+65.8%
Valuation
Market capitalization	$90.32B+9.5%	$83B+2.5%	$82.41B+5.1%	$85.92B+17.3%	$82.46B+14.9%
Enterprise value	$96.99B+9.9%	$85.97B-1.7%	$86.32B+1.0%	$90.83B+12.2%	$88.23B+10.2%
Price / earnings	159×+28.0×	127.3×-4.2×	126.6×-0.6×	133.4×+15.6×	131×+18.9×
Price / sales	27.4×-0.7×	27×-0.8×	27.3×+0.4×	28.9×+3.9×	28.1×+3.9×
Price / book	28×-20.7×	37.2×-16.6×	40.4×-18.2×	46.1×-17.1×	48.7×-22.7×
EV / EBITDA	117.3×+19.0×	93.9×-5.4×	93.6×-3.8×	99.3×+7.8×	98.3×+9.5×
EV / sales	29.3×-0.8×	28×-2.0×	28.6×-0.7×	30.6×+3.0×	30.1×+3.0×
Free cash flow yield	9.7%-2.1pp	11.6%-0.1pp	12%+0.8pp	11.5%+0.6pp	11.8%+1.5pp
Earnings yield	11.2%-1.1pp	12.7%+0.4pp	12.7%+0.1pp	12%-1.7pp	12.3%-2.3pp

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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.