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Waters Corporation WAT Total Cost of Revenue

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Segments

By product

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Service$155M+43.5%

Other financials

Income statement

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Revenue$1.3B+91.4%
Gross profit$569.5M+8.6%
Operating income-$47.0M-131%
Net income-$72.0M-160%
EPS (diluted)-$0.87-143%

Balance sheet

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Cash & equivalents$462.0M+20.7%
Total debt$5.2B+263%
Total equity$15.3B+679%
Total assets$24.5B+434%

Cash flow

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Operating cash flow-$3.0M-101%
CapEx$39.0M+50.0%
Free cash flow-$42.0M-118%

Valuation

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Market cap$36.76B+78.1%
Enterprise value$41.51B+92.6%
P/E81.8×+50.6×
P/S9.8×+3.0×

Profitability

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Gross margin59.3%-0.1pp
Operating margin16%-12.3pp
Net margin11.9%-10.1pp
FCF margin7%-13.8pp

Returns & leverage

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Return on equity5.2%-35.6pp
Debt / equity0.3×-0.4×
Current ratio1.8×0.0×

Where this comes from

Reported directly by Waters Corporation in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: Waters Corporation’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waters Corporation's total cost of revenue?
Waters Corporation (WAT) reported total cost of revenue of $362.86M in Q4 2025.
How has Waters Corporation's total cost of revenue changed year-over-year?
Waters Corporation's total cost of revenue increased by 4.1% year-over-year, from $348.52M to $362.86M.
What is the long-term trend for Waters Corporation's total cost of revenue?
Over 4 years (2021 to 2025), Waters Corporation's total cost of revenue has grown at a 2.7% compound annual growth rate (CAGR), from $1.16B to $1.29B.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.