Which has grown faster, MRNA or WAT?

Over the past five years, WAT grew revenue faster — MRNA at a -2.60% CAGR versus WAT at 8.48%.

Is MRNA or WAT more profitable?

WAT runs the higher net margin — MRNA at -143.55% versus WAT at 11.91%.

Which has been the better investment, MRNA or WAT?

Over the past 5-year, WAT delivered the higher annualized total return — MRNA at -25.58% versus WAT at 9.92%. Past performance doesn't predict future results.

Moderna, Inc. (MRNA) vs Waters Corporation (WAT)

WAT leads on 9 of 10 compared metrics.

A side-by-side comparison of Moderna, 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).

Total return — MRNA vs WAT

growth of $100 · last 8y

MRNA +168.3%WAT +83.4%MRNA compounded faster

MRNA WAT

MRNA vs WAT: by the numbers

•WAT is the larger company ($23.17B vs $19.80B market cap).
•WAT is profitable (11.91% net margin) while MRNA runs a net loss (-143.55%).
•WAT grew revenue faster over the past five years (8.48% vs -2.60% CAGR).

Which is better, MRNA or WAT?

Metric tally: MRNA 1 · WAT 9

It depends on what you're optimizing for:

GrowthWAT(faster 5Y revenue CAGR)

QualityWAT(higher ROIC)

Metrics side by side

Valuation

Metric	MRNA	WAT
P/E ratio	—	45.18
Forward P/E	—	21.65
P/S ratio	8.86	7.74●
P/B ratio	2.66	1.91●
PEG ratio	—	75.62
EV / EBITDA	—	37.11
FCF yield	—	0.90%

Profitability

Metric	MRNA	WAT
Gross margin	-13.89%	55.02%●
Operating margin	-153.35%	17.08%●
Net margin	-143.55%	11.91%●
ROE	-43.12%	2.94%●
ROIC	-29.70%	17.57%●

Growth (annualized)

Metric	MRNA	WAT
Revenue CAGR (5Y)	-2.60%	8.48%●
EPS CAGR (5Y)	—	5.16%
FCF CAGR (5Y)	126.92%●	-17.63%
Total return CAGR (5Y)	-25.58%	1.10%●

Frequently asked

Which is better, MRNA or WAT?: It depends on your goal. growth: WAT (faster 5Y revenue CAGR); quality: WAT (higher ROIC). Across all compared metrics, WAT leads 9 to 1.
Which has grown faster, MRNA or WAT?: Over the past five years, WAT grew revenue faster — MRNA at a -2.60% CAGR versus WAT at 8.48%.
Is MRNA or WAT more profitable?: WAT runs the higher net margin — MRNA at -143.55% versus WAT at 11.91%.
Which has been the better investment, MRNA or WAT?: Over the past 5-year, WAT delivered the higher annualized total return — MRNA at -25.58% versus WAT at 9.92%. Past performance doesn't predict future results.

Go deeper

Full MRNA analysis Full WAT analysis Interactive comparison tool

Dig into the metrics

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

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.