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Waters Corporation WAT Return on invested capital

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Agilent TechnologiesA
16.2%+0.7pp

Other financials

Income statement

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Revenue$1.6B+113%
Gross profit$569.5M+8.6%
Operating income-$86.0M-146%
Net income$136.0M-7.6%
EPS (diluted)$1.39-43.7%

Balance sheet

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Cash & equivalents$539.0M+46.8%
Total debt$5.1B+298%
Total equity$15.2B+604%
Total assets$24.8B+425%

Cash flow

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Operating cash flow$200.0M+391%
CapEx-$49.0M-319%
Free cash flow$151.0M+723%

Valuation

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Market cap$39.27B+138%
Enterprise value$43.82B+151%
P/E89.6×+64.6×
P/S8.5×+3.0×

Profitability

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Gross margin59.3%-0.1pp
Operating margin7.1%-20.6pp
Net margin9.4%-12.3pp
FCF margin8.5%-11.8pp

Returns & leverage

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Return on equity5%-32.0pp
Debt / equity0.3×-0.3×
Current ratio1.8×0.0×

Where this comes from

Calculated from Waters Corporation’s reported figures.

Based on trailing twelve months.

The source filing: Waters Corporation’s 8-K, filed August 4, 2026. Open the filing →

Filed
Aug 4, 2026, 6:10 AM EDT
Accession
0001193125-26-331413

FAQ

What is Waters Corporation's return on invested capital?
Waters Corporation (WAT) reported return on invested capital of 2.2% in Q2 2026.
How has Waters Corporation's return on invested capital changed year-over-year?
Waters Corporation's return on invested capital decreased by 90.3% year-over-year, from 22.6% to 2.2%.
What is the long-term trend for Waters Corporation's return on invested capital?
Over 5 years (2020 to 2025), Waters Corporation's return on invested capital has grown at a -15.0% compound annual growth rate (CAGR), from 49.6% to 22%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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