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
Returns
Return on equity	104.4%-83.4pp	140%-72.0pp	153.6%-93.2pp	170.3%-128pp	187.8%-172pp
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×
Leverage
Debt-to-equity	1.8×-2.6×	2.2×-3.1×	2.7×-3.7×	3.4×-4.6×	4.3×-5.7×
Net debt / EBITDA	8.8×+2.3×	3.2×-4.1×	4.2×-3.8×	5.4×-3.3×	6.5×-2.7×
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%
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×

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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.