Is LH or WAT cheaper?

On trailing earnings, LH is cheaper: LH trades at a 23.57 P/E and WAT at 45.18.

Which has grown faster, LH or WAT?

Over the past five years, WAT grew revenue faster — LH at a -1.58% CAGR versus WAT at 8.48%.

Does LH or WAT pay a bigger dividend?

LH pays a dividend (1.08% yield) while WAT does not currently pay one.

Is LH or WAT more profitable?

WAT runs the higher net margin — LH at 6.66% versus WAT at 11.91%.

Which has been the better investment, LH or WAT?

Over the past 10-year, WAT delivered the higher annualized total return — LH at 9.60% versus WAT at 9.92%. Past performance doesn't predict future results.

Labcorp Holdings Inc. (LH) vs Waters Corporation (WAT)

LH leads on 9 of 16 compared metrics.

A side-by-side comparison of Labcorp Holdings Inc. and Waters Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 14, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

Labcorp Holdings Inc.

Total return — LH vs WAT

growth of $100 · last 30y

LH +1379.5%WAT +4956.4%WAT compounded faster

LH WAT

LH vs WAT: by the numbers

•WAT is the larger company ($23.17B vs $21.83B market cap).
•LH trades at the lower earnings multiple (23.57 vs 45.18 P/E).
•WAT converts more revenue to profit (11.91% vs 6.66% net margin).
•WAT grew revenue faster over the past five years (8.48% vs -1.58% CAGR).
•LH pays a dividend (1.08% yield) while WAT does not currently pay one.

Which is better, LH or WAT?

Metric tally: LH 9 · WAT 7

It depends on what you're optimizing for:

ValueLH(lower P/E)

GrowthWAT(faster 5Y revenue CAGR)

QualityWAT(higher ROIC)

Valuation

Metric	LH	WAT
P/E ratio	23.57●	45.18
Forward P/E	13.65●	21.65
P/S ratio	1.56●	7.74
P/B ratio	2.53	1.91●
PEG ratio	1.28●	75.62
EV / EBITDA	13.73●	37.11
FCF yield	6.27%●	0.90%

Profitability

Metric	LH	WAT
Gross margin	27.79%	55.02%●
Operating margin	11.03%	17.08%●
Net margin	6.66%	11.91%●
ROE	10.79%●	2.94%
ROIC	7.39%	17.57%●

Dividends

Metric	LH	WAT
Dividend yield	1.08%	—
Payout ratio	27.32%	—

Growth (annualized)

Metric	LH	WAT
Revenue CAGR (5Y)	-1.58%	8.48%●
EPS CAGR (5Y)	-8.00%	5.16%●
FCF CAGR (5Y)	-12.63%●	-17.63%
Total return CAGR (5Y)	4.75%●	1.10%

Frequently asked

Which is better, LH or WAT?: It depends on your goal. value: LH (lower P/E); growth: WAT (faster 5Y revenue CAGR); quality: WAT (higher ROIC). Across all compared metrics, LH leads 9 to 7.
Is LH or WAT cheaper?: On trailing earnings, LH is cheaper: LH trades at a 23.57 P/E and WAT at 45.18.
Which has grown faster, LH or WAT?: Over the past five years, WAT grew revenue faster — LH at a -1.58% CAGR versus WAT at 8.48%.
Does LH or WAT pay a bigger dividend?: LH pays a dividend (1.08% yield) while WAT does not currently pay one.
Is LH or WAT more profitable?: WAT runs the higher net margin — LH at 6.66% versus WAT at 11.91%.
Which has been the better investment, LH or WAT?: Over the past 10-year, WAT delivered the higher annualized total return — LH at 9.60% versus WAT at 9.92%. Past performance doesn't predict future results.

Go deeper

Full LH analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

Labcorp P/E ratio Waters P/E ratio Labcorp dividend yield Waters dividend yield Labcorp ROE Waters ROE Labcorp operating margin Waters operating margin Labcorp revenue growth Waters revenue growth Labcorp free cash flow Waters free cash flow

Labcorp & Waters appear in these rankings

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Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 14, 2026.