WAT financials
Waters Corporation · end-of-day data as of Oct 16, 2026
Waters Corporation
$436.95+16.6%
Buy · 24 analystsPT $456.07 +4.4%
WAT reported revenue of $1.65B for the quarter ended Jul 4, 2026 (Q2 FY2026), up 113.3% from a year earlier. It posted diluted EPS of -$1.39, free cash flow of $153M and a net margin of -8.3%.
Valuation
- P/E109.0x
- P/E vs own+123.1%
- P/E vs sector+287.0%
- FCF yield+0.9%
- Market cap$42.9B
Quarterly results
Q2 FY2026: Revenue +113.3% year over year, free cash flow 9.3% of revenue, operating margin -5.2%.
RevenueFree cash flow
| Q2 FY2026 | Jul 4, 2026 | $1.65B | -1.39 | $153M | 44.6% | -5.2% | -8.3% |
| Q1 FY2026 | Apr 4, 2026 | $1.27B | -0.87 | -$42M | 47.0% | -3.7% | -5.7% |
| Q4 FY2025 | Dec 31, 2025 | $932M | 3.77 | $126M | 59.8% | 33.3% | 24.2% |
| Q3 FY2025 | Sep 27, 2025 | $800M | 2.50 | $162M | 59.0% | 24.0% | 18.6% |
| Q2 FY2025 | Jun 28, 2025 | $771M | 2.47 | $18.55M | 58.3% | 24.4% | 19.1% |
| Q1 FY2025 | Mar 29, 2025 | $662M | 2.03 | $234M | 58.2% | 22.9% | 18.3% |
| Q4 FY2024 | Dec 31, 2024 | $873M | 3.88 | $188M | 60.1% | 33.5% | 26.5% |
| Q3 FY2024 | Sep 28, 2024 | $740M | 2.71 | $179M | 59.3% | 28.5% | 21.8% |
| Q2 FY2024 | Jun 29, 2024 | $709M | 2.40 | $18.43M | 59.3% | 26.7% | 20.1% |
| Q1 FY2024 | Mar 30, 2024 | $637M | 1.72 | $234M | 58.9% | 21.0% | 16.0% |
| Q4 FY2023 | Dec 31, 2023 | $819M | 3.65 | $189M | 61.2% | 32.2% | 26.4% |
| Q3 FY2023 | Sep 30, 2023 | $712M | 2.27 | $120M | 59.1% | 25.2% | 18.9% |