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Segments

By geography

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Americas$690M+146%
European Union$505M
Asia Pacific$450M+69.2%
Asia Other$244M+63.8%
Americas Other$120M+135%

By product

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Consumables$765M
Instrument Systems$455M
Service$425M+42.6%

Other financials

Income statement

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Gross profit$569.5M+8.6%
Operating income-$86.0M-146%
Net income-$136.0M-193%
EPS (diluted)-$1.39-156%

Balance sheet

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Cash & equivalents$539.0M+46.8%
Total debt$5.3B+311%
Total equity$15.2B+603%
Total assets$24.8B+425%

Cash flow

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Operating cash flow$201.0M+390%
CapEx$48.0M+109%
Free cash flow$153.0M+750%

Valuation

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Market cap$40.69B+132%
Enterprise value$45.41B+146%
P/E244.9×+218×
P/S8.8×+3.0×

Profitability

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Gross margin59.3%-0.1pp
Operating margin7.1%-20.6pp
Net margin3.6%-18.1pp
FCF margin8.6%-11.7pp

Returns & leverage

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Return on equity1.9%-35.1pp
Debt / equity0.3×-0.2×
Current ratio1.9×+0.1×

Where this comes from

Reported directly by Waters Corporation in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: Waters Corporation’s 10-Q, filed August 11, 2026.

Filed
Aug 11, 2026, 4:16 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-344691
Line itemThree Months Ended / July 4, 2026Three Months Ended / June 28, 2025
Revenues:
Product revenue$1,220$473
Service revenue425298
Total net revenues1,645771
Costs and operating expenses:
Cost of product revenue700200
Cost of service revenue211121
Selling and administrative expenses405198

Item 1: Financial Statements

FAQ

What is Waters Corporation's total revenue?
Waters Corporation (WAT) reported total revenue of $1.65B in Q2 2026.
How has Waters Corporation's total revenue changed year-over-year?
Waters Corporation's total revenue increased by 113.4% year-over-year, from $771M to $1.65B.
What is the long-term trend for Waters Corporation's total revenue?
Over 4 years (2021 to 2025), Waters Corporation's total revenue has grown at a 3.2% compound annual growth rate (CAGR), from $2.79B to $3.17B.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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