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Waters Corporation (WAT)
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WAT Income Statement

Revenue, expenses, and profitability analysis

WAT Quarterly Income Statement (USD)

Quarterly ReportTTM
04/04/2026
12/31/2025
09/27/2025
06/28/2025
03/29/2025
12/31/2024
09/28/2024
06/29/2024
2.074B595.000M557.421M472.081M449.925M384.960M524.198M438.650M420.285M
3.771B1.267B932.362M799.887M771.332M661.705M872.714M740.305M708.529M
Cost of Goods Sold
1.696B672.000M374.941M327.806M321.407M276.745M348.516M301.655M288.244M
47.0%47.0%59.8%59.0%58.3%58.2%60.1%59.3%59.3%
Total Operating Expenses
1.431B642.000M246.844M279.967M261.712M233.215M231.935M227.518M231.173M
248.293M96.000M50.102M53.643M48.548M46.622M46.914M45.336M46.182M
1.006B394.000M196.742M214.229M201.257M174.881M173.268M169.097M173.247M
643.904M-47.000M310.577M192.114M188.213M151.745M292.263M211.132M189.112M
-3.7%-3.7%33.3%24.0%24.4%22.9%33.5%28.5%26.7%
523.990M-88.000M264.181M170.119M177.690M142.888M276.983M193.617M169.412M
Interest Income
9.219M4.712M4.507M3.889M4.559M4.258M4.328M
91.609M42.000M8.618M26.637M14.354M14.270M18.996M21.435M23.726M
Other Income/Expense
-119.914M-41.000M-46.396M-21.995M-10.523M-8.857M-15.280M-17.515M-19.700M
449.248M-72.000M225.214M148.923M147.111M121.381M231.398M161.503M142.737M
74.742M-16.000M38.967M21.196M30.579M21.507M45.585M32.114M26.675M
-5.7%-5.7%24.2%18.6%19.1%18.3%26.5%21.8%20.1%
924.467M106.000M325.340M249.434M243.693M206.527M344.554M262.559M240.367M
EBITDA Margin
8.4%8.4%34.9%31.2%31.6%31.2%39.5%35.5%33.9%
308.868M152.000M52.541M52.678M51.649M49.369M48.575M47.507M47.229M
EPS Basic
7.88-0.873.782.502.472.043.902.722.41
7.87-0.873.772.502.472.033.882.712.40
Shares Outstanding
82.139M82.139M59.546M59.528M59.515M59.439M59.386M59.314M59.339M
Diluted Shares Outstanding
82.139M82.139M59.763M59.622M59.656M59.711M59.645M59.504M59.451M

WAT Annual Income Statement (USD)

Annual Report
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
1.829B1.758B1.761B1.724B1.629B1.359B1.396B1.427B
3.165B2.958B2.956B2.972B2.786B2.365B2.407B2.420B
Cost of Goods Sold
1.337B1.200B1.195B1.248B1.157B1.007B1.011B992.564M
57.8%59.4%59.6%58.0%58.5%57.4%58.0%59.0%
Total Operating Expenses
935.450M931.833M943.517M850.379M807.634M713.187M687.439M687.591M
195.180M183.027M174.945M176.190M168.358M140.777M142.955M143.403M
740.270M690.148M736.014M658.026M626.968M553.698M534.791M536.902M
893.223M826.353M817.676M873.395M821.707M645.489M708.457M739.774M
28.2%27.9%27.7%29.4%29.5%27.3%29.4%30.6%
754.878M754.868M736.243M837.846M806.193M610.914M678.239M682.146M
Interest Income
17.416M16.621M11.020M12.221M16.270M22.058M38.807M
50.771M89.677M98.861M48.797M44.938M49.070M48.690M48.641M
Other Income/Expense
-138.345M-71.485M-81.433M-35.549M-15.514M-34.575M-30.218M-57.628M
642.629M637.834M642.234M707.755M692.843M521.571M592.198M593.794M
112.249M117.034M94.009M130.091M113.350M89.343M86.041M88.352M
20.3%21.6%21.7%23.8%24.9%22.1%24.6%24.5%
1.012B1.036B1.001B1.017B982.811M785.345M832.225M839.195M
EBITDA Margin
32.0%35.0%33.9%34.2%35.3%33.2%34.6%34.7%
206.237M191.825M165.905M130.423M131.680M125.361M105.296M108.408M
EPS Basic
10.8010.7510.8711.8011.258.408.767.71
10.7610.7110.8411.7311.178.368.697.65
Shares Outstanding
59.509M59.333M59.076M59.985M61.575M62.094M67.627M76.992M
Diluted Shares Outstanding
59.706M59.552M59.270M60.331M62.028M62.414M68.166M77.618M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

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.

Milford, MA
7,600 employees
Healthcare / Medical - Diagnostics & Research
Sector
Healthcare
Industry
Medical - Diagnostics & Research
CEO
Udit Batra