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Waters Corporation WAT Product — Cost of Goods Sold

Other product segments

Service
$155M+43.5%

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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-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Waters Corporation's product — cost of goods sold?
Waters Corporation (WAT) reported product — cost of goods sold of $524M in Q1 2026.
How has Waters Corporation's product — cost of goods sold changed year-over-year?
Waters Corporation's product — cost of goods sold increased by 210.1% year-over-year, from $169M to $524M.
What is the long-term trend for Waters Corporation's product — cost of goods sold?
Over 4 years (2021 to 2025), Waters Corporation's product — cost of goods sold has grown at a 2.2% compound annual growth rate (CAGR), from $752.51M to $820.71M.
What does product — cost of goods sold mean?
This metric captures the direct costs associated with manufacturing and delivering the company's analytical instruments and related hardware products. It includes raw materials, direct labor, and manufacturing overhead required to produce the equipment sold to customers. Monitoring this figure is essential for evaluating the company's manufacturing efficiency, supply chain management, and the underlying gross margin profile of its product segment.