Waters Corporation (WAT) EBITDA Margin: 31.97%
Is Waters Corporation’s EBITDA margin high or low?
Waters Corporation's EBITDA margin of 31.97% is in line with its 5-year average of 33.93%, near the low end of its 5-year range (31.97%–35.28%).
The EBITDA margin for Waters Corporation (WAT) is 31.97% as of Wednesday, June 10, 2026. It is below its 12-month average by 4.57% (33.50%).
WAT EBITDA Margin Chart
WAT Average EBITDA Margin Chart
WAT Current vs Average EBITDA Margin Chart
WAT EBITDA Margin Metrics
EBITDA MARGIN
31.97%
EBITDA MARGIN AVG TTM
33.50%
EBITDA MARGIN AVG 3Y
33.77%
EBITDA MARGIN AVG 5Y
33.93%
EBITDA MARGIN AVG 10Y
34.05%
EBITDA MARGIN AVG 15Y
33.28%
EBITDA MARGIN AVG 20Y
32.19%
CURRENT VS TTM AVG
-4.57%
CURRENT VS 3Y AVG
-5.33%
CURRENT VS 5Y AVG
-5.77%
CURRENT VS 10Y AVG
-6.11%
CURRENT VS 15Y AVG
-3.94%
CURRENT VS 20Y AVG
-0.67%
WAT Competitors' EBITDA Margin
| NAME | MARKET CAP | EBITDA MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waters Corporation (WAT) | — | 31.97% | 33.50% | 33.77% | 33.93% |
| Mettler-Toledo International Inc. (MTD) | $22.85B | 30.67% | 31.14% | 31.31% | 30.59% |
| BioNTech SE (BNTX) | $21.81B | -9.29% | -11.31% | 22.27% | 24.39% |
| Veeva Systems Inc. (VEEV) | $26.73B | 28.68% | 27.64% | 24.37% | 25.68% |
| Biogen Inc. (BIIB) | $29.00B | 31.60% | 31.28% | 30.38% | 32.54% |
| DexCom, Inc. (DXCM) | $29.24B | 24.96% | 24.20% | 23.29% | 21.36% |
| Moderna, Inc. (MRNA) | $18.40B | -131.33% | -118.72% | -58.41% | -40.82% |
| IQVIA Holdings Inc. (IQV) | $30.60B | 21.24% | 21.82% | 21.39% | 20.63% |
| Hologic, Inc. (HOLX) | $16.97B | 24.97% | 28.56% | 32.04% | 36.42% |
| Centene Corporation (CNC) | $31.94B | -2.64% | 0.58% | 1.90% | 2.49% |
Margin Comparison
Gross Margin
55.0%
EBITDA Margin
32.0%
Operating Margin
17.1%
Net Margin
11.9%
Formula: EBITDA Margin = (EBITDA / Revenue) × 100
Why EBITDA Margin matters:
- Removes effects of depreciation policies (D&A)
- Capital structure neutral (ignores interest)
- Tax neutral (ignores tax differences)
- Good proxy for operating cash generation
Waters Corporation EBITDA Margin Formula & Definition
EBITDA Margin = EBITDA / Revenue
EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Waters Corporation EBITDA Margin FAQ
- What is the EBITDA margin for Waters Corporation (WAT)?
- The EBITDA margin for WAT stock is 31.97%.
- Is Waters Corporation's EBITDA margin high or low?
- Waters Corporation's EBITDA margin of 31.97% is in line with its 5-year average of 33.93%, near the low end of its 5-year range (31.97%–35.28%).
- What is the TTM average EBITDA margin for Waters Corporation (WAT)?
- The TTM average EBITDA margin for WAT stock is 33.50%.
- What is the 3Y average EBITDA margin for Waters Corporation (WAT)?
- The 3Y average EBITDA margin for WAT stock is 33.77%.
- What is the 5Y average EBITDA margin for Waters Corporation (WAT)?
- The 5Y average EBITDA margin for WAT stock is 33.93%.
- What is the 10Y average EBITDA margin for Waters Corporation (WAT)?
- The 10Y average EBITDA margin for WAT stock is 34.05%.
- What is the 15Y average EBITDA margin for Waters Corporation (WAT)?
- The 15Y average EBITDA margin for WAT stock is 33.28%.
- What is the 20Y average EBITDA margin for Waters Corporation (WAT)?
- The 20Y average EBITDA margin for WAT stock is 32.19%.
Waters Corporation EBITDA Margin History
| DATE | EBITDA MARGIN |
|---|---|
| 2025-12-31 | 31.97% |
| 2024-12-31 | 35.03% |
| 2023-12-31 | 33.86% |
| 2022-12-31 | 34.22% |
| 2021-12-31 | 35.28% |
| 2020-12-31 | 33.20% |
| 2019-12-31 | 34.58% |
| 2018-12-31 | 34.68% |
| 2017-12-31 | 34.82% |
| 2016-12-31 | 34.21% |
| 2015-12-31 | 32.72% |
| 2014-12-31 | 31.12% |
| 2013-12-31 | 31.50% |
| 2012-12-31 | 31.71% |
| 2011-12-31 | 32.28% |
| 2010-12-31 | 31.30% |
| 2009-12-31 | 30.35% |
| 2008-12-31 | 30.22% |
| 2007-12-31 | 27.30% |
| 2006-12-31 | 27.32% |
| 2005-12-31 | 28.22% |
| 2004-12-31 | 29.58% |
| 2003-12-31 | 26.50% |
| 2002-12-31 | 27.08% |
| 2001-12-31 | 21.35% |
| 2000-12-31 | 30.22% |
| 1999-12-31 | 29.26% |
| 1998-12-31 | 26.63% |
| 1997-12-31 | 12.61% |
| 1996-12-31 | 22.53% |
Related Metrics
About Waters Corporation
Waters Corporation is a global leader in specialized measurement, delivering analytical solutions across Asia, the Americas, and Europe. The company operates through two main divisions: Waters and TA. Under its Waters segment, it engineers, manufactures, sells, and provides support for high and ultra-performance liquid chromatography and mass spectrometry (MS) systems. This includes essential consumables like chromatography columns and comprehensive post-warranty service plans. The TA segment focuses on designing, producing, selling, and servicing instruments for thermal analysis, rheometry, and calorimetry. Additionally, Waters develops and supplies sophisticated software that integrates with both its own instruments and those from other manufacturers. The company's advanced MS technology plays a crucial role in various applications, such as drug discovery and development (including clinical trial assessments), analyzing proteins involved in disease processes, ensuring nutritional safety, and conducting environmental testing. Its thermal analysis, rheometry, and calorimetry instruments are vital for assessing the suitability and stability of a wide range of materials, including fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids. These instruments support diverse sectors like industrial manufacturing, consumer goods, healthcare products, and life science research. Waters' extensive client base spans the life sciences, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental sectors, where its products are instrumental in research and development, quality assurance, and general laboratory operations. Established in 1958, Waters Corporation is headquartered in Milford, Massachusetts.
- Sector
- Healthcare
- Industry
- Medical - Diagnostics & Research
- CEO
- Udit Batra