Waters Corporation WAT Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Waters Advanced Diagnostics | $349M+558% | —— | —— | —— | $53M— | |
| Waters Analytical And Materials Sciences | $686M+12.6% | —— | —— | —— | $609M— | |
| Waters Biosciences | $232M— | —— | —— | —— | $0— | |
| Operating Income by Business | ||||||
| Waters Advanced Diagnostics | $70M+250% | —— | —— | —— | $20M— | |
| Waters Analytical And Materials Sciences | $236M+9.8% | —— | —— | —— | $215M— | |
| Waters Biosciences | $83M— | —— | —— | —— | $0— | |
| Operating Income Loss Margin by Business | ||||||
| Waters Advanced Diagnostics | 20.1%-17.6pp | —— | —— | —— | 37.7%— | |
| Waters Analytical And Materials Sciences | 34.4%-0.9pp | —— | —— | —— | 35.3%— | |
| Waters Biosciences | 35.8%— | —— | —— | —— | 0%— | |
| Other Expenses by Business | ||||||
| Waters Advanced Diagnostics | $132M+1,100% | —— | —— | —— | $11M— | |
| Waters Analytical And Materials Sciences | $44M-69.9% | —— | —— | —— | $146M— | |
| Waters Biosciences | $53M— | —— | —— | —— | $0— | |
| Labor And Related Expense by Business | ||||||
| Waters Advanced Diagnostics | $50M+614% | —— | —— | —— | $7M— | |
| Waters Analytical And Materials Sciences | $159M+109% | —— | —— | —— | $76M— | |
| Waters Biosciences | $34M— | —— | —— | —— | $0— | |
| Reclassification Of Goodwill by Business | ||||||
| Waters Advanced Diagnostics | $101M— | —— | —— | —— | —— | |
| Waters Analytical And Materials Sciences | -$101M— | —— | —— | —— | —— | |
| Waters Biosciences | $0— | —— | —— | —— | —— | |
| Goodwill by Business | ||||||
| Biosciences | $3.8B— | —— | —— | —— | —— | |
| Waters Advanced Diagnostics | $3.37B— | $0— | —— | —— | —— | |
| Waters Analytical And Materials Sciences | $2.11B— | $1.34B— | —— | —— | —— | |
| Waters Biosciences | $3.84B— | $0— | —— | —— | —— | |
| Goodwill Foreign Currency Translation Gain Loss by Business | ||||||
| Waters Advanced Diagnostics | $7M— | —— | —— | —— | —— | |
| Waters Analytical And Materials Sciences | $2M— | —— | —— | —— | —— | |
| Waters Biosciences | $7M— | —— | —— | —— | —— | |
| Goodwill Acquired by Business | ||||||
| Waters Advanced Diagnostics | $3.28B— | —— | —— | —— | —— | |
| Waters Analytical And Materials Sciences | $870M— | —— | —— | —— | —— | |
| Waters Biosciences | $3.84B— | —— | —— | —— | —— | |
| Cost Direct Material by Business | ||||||
| Waters Advanced Diagnostics | $52M+271% | —— | —— | —— | $14M— | |
| Waters Analytical And Materials Sciences | $146M+67.8% | —— | —— | —— | $87M— | |
| Waters Biosciences | $37M— | —— | —— | —— | $0— | |
| Cost Direct Labor by Business | ||||||
| Waters Advanced Diagnostics | $45M+4,400% | —— | —— | —— | $1M— | |
| Waters Analytical And Materials Sciences | $101M+18.8% | —— | —— | —— | $85M— | |
| Waters Biosciences | $25M— | —— | —— | —— | $0— | |
| Revenue by Product | ||||||
| Consumables | $543M+293% | —— | —— | —— | $138M— | |
| Instrument Systems | $376M+43.0% | $432.85M+3.2% | $341.48M+5.7% | $308.42M+4.9% | $263M+8.7% | |
| Service | $348M+33.3% | $329.16M+9.0% | $299.92M+7.8% | $297.93M+9.0% | $261M+0.1% | |
| Revenue by Geography | ||||||
| Americas Other | $90M+125% | $57.29M-1.3% | $47.56M+10.7% | $50.61M+19.0% | $40M+4.4% | |
| Americas | $505M+97.3% | $332.42M+3.6% | $292.81M+4.9% | $280.74M+2.3% | $256M+6.1% | |
| Asia Other | $197M+51.5% | $168.02M+3.6% | $156.2M+3.3% | $148.81M+8.4% | $130M+6.7% | |
| Asia Pacific | $350M+58.4% | $283.97M+4.1% | $269.71M+7.3% | $265.94M+12.0% | $221M+6.5% | |
| European Union | $412M+123% | —— | —— | —— | $185M— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Waters Corporation break its business down?
- Waters Corporation (WAT) reports revenue by business across 3 parts — Waters Advanced Diagnostics, Waters Analytical And Materials Sciences and Waters Biosciences. Each is extracted from the segment footnotes and tracked over time.
- Where does Waters Corporation's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Waters Corporation's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
