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Waters Corporation (WAT)

457.60 +4.52 (+1.00%)
At close: November 6 at 4:00:02 PM EST
457.60 0.00 (0.00%)
After hours: November 6 at 4:13:23 PM EST
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20m ago
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Waters reported a strong Q3 2026, with $1.767 billion in revenue, 10% organic constant-currency growth, and $4.10 adjusted EPS, exceeding expectations. Management raised 2026 guidance and outlined a 2027 framework centered on integration synergies, new instruments, proteomics, software, and artificial intelligence tools. The main investor debate involves execution risks, China-related weakness, cash-flow timing, and a premium valuation.

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  • Previous Close 453.08
  • Open 450.61
  • Bid 450.12 x 4000
  • Ask 480.00 x 4000
  • Day's Range 451.20 - 463.72
  • 52 Week Range 282.77 - 482.28
  • Volume 695,768
  • Avg. Volume 823,143
  • Market Cap (intraday) 44.93B
  • Beta (5Y Monthly) 1.15
  • PE Ratio (TTM) 191.46
  • EPS (TTM) 2.39
  • Earnings Date Nov 3, 2026
  • Forward Dividend & Yield -- (0.00%)
  • 1y Target Est 474.73
  • Morningstar Rating Rating available with Stock Picks access

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company operates through two segments, Waters and TA. The company designs, manufactures, sells, and services liquid chromatography, as well as mass spectrometry (MS) technology systems and supports products, including chromatography columns, and other consumable products. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer goods, and healthcare products, as well as for life science research; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. In addition, the company offers MS technology, which is used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. Its products are used by clinical, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. The company was founded in 1958 and is headquartered in Milford, Massachusetts.

www.waters.com

15,000

Full Time Employees

December 31

Fiscal Year Ends

Healthcare

Sector

Recent News

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Performance Overview

Trailing total returns as of 11/6/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC) .

YTD Return

WAT
20.47%
S&P 500 (^GSPC)
7.76%

1-Year Return

WAT
23.29%
S&P 500 (^GSPC)
9.77%

3-Year Return

WAT
81.48%
S&P 500 (^GSPC)
68.96%

5-Year Return

WAT
33.39%
S&P 500 (^GSPC)
57.04%

Earnings Trends

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Earnings Per Share

GAAP
Normalized
GAAP
Normalized

Revenue vs. Earnings

Annual
Quarterly
Annual
Quarterly
Q3 FY26
Revenue 1.77B
Earnings 81M
Profit Margin 4.58%

Q4

FY25

Q1

FY26

Q2

FY26

Q3

FY26

0
500M
1B
2B
0.0%
10.0%
20.0%

Analyst Insights

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Analyst Price Targets

349.00 Low
474.73 Average
457.60 Current
550.00 High

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell

Latest Rating

Date 11/4/2026
Analyst Citigroup
Rating Action Maintains
Rating Buy
Price Action Raises
Price Target 470 -> 536

Statistics

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Valuation Measures

Annual
  • Market Cap

  • Enterprise Value

  • Trailing P/E

  • Forward P/E

  • PEG Ratio (current)

  • Price/Sales (ttm)

  • Price/Book (mrq)

  • Enterprise Value/Revenue

  • Enterprise Value/EBITDA

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    1.76%

  • Return on Assets (ttm)

    2.36%

  • Return on Equity (ttm)

    1.12%

  • Revenue (ttm)

    5.61B

  • Net Income Avi to Common (ttm)

    98.63M

  • Diluted EPS (ttm)

    2.39

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    593M

  • Total Debt/Equity (mrq)

    33.57%

  • Levered Free Cash Flow (ttm)

    --

Company Insights

Research Reports

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