Basis: Latest stored market observation. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 48.41x is 128% above its 5-year average of 21.23x, near the high end of its 5-year range (16.17x–49.66x).
As of Friday, September 4, 2026. 80.23% above its 12-month average of 26.86x.
EV/EBITDA RATIO
48.41x
EV/EBITDA RATIO AVG TTM
26.86x
EV/EBITDA RATIO AVG 3Y
21.35x
EV/EBITDA RATIO AVG 5Y
21.23x
EV/EBITDA RATIO AVG 10Y
20.98x
EV/EBITDA RATIO AVG 15Y
19.46x
EV/EBITDA RATIO AVG 20Y
18.52x
CURRENT VS TTM AVG
+80.23%
CURRENT VS 3Y AVG
+126.80%
CURRENT VS 5Y AVG
+128.03%
CURRENT VS 10Y AVG
+130.72%
CURRENT VS 15Y AVG
+148.79%
CURRENT VS 20Y AVG
+161.40%
SECTOR MEDIAN · HEALTHCARE
17.04x
median of 83 covered companies
CURRENT VS SECTOR MEDIAN
+184.10%
vs the sector median at left
Waters Corporation
Market Cap
$30.13B
EV/EBITDA Ratio
48.41x
TTM Avg
26.86x
3Y Avg
21.35x
5Y Avg
21.23x
Market Cap
$30.16B
EV/EBITDA Ratio
10.96x
TTM Avg
11.79x
3Y Avg
13.20x
5Y Avg
13.26x
Market Cap
$26.79B
EV/EBITDA Ratio
22.16x
TTM Avg
23.38x
3Y Avg
23.57x
5Y Avg
25.70x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waters Corporation (WAT) | $30.13B | 48.41x | 26.86x | 21.35x | 21.23x |
| GE HealthCare Technologies Inc. (GEHC)vs › | $30.16B | 10.96x | 11.79x | 13.20x | 13.26x |
| Zoetis Inc. (ZTS)vs › | $30.86B | 9.85x | 13.61x | 19.59x | 22.55x |
| Medline Inc. (MDLN)vs › | $29.33B | 15.18x | 14.95x | 14.95x | 14.95x |
| Biogen Inc. (BIIB)vs › | $31.40B | 15.82x | 10.16x | 11.50x | 12.56x |
| DexCom, Inc. (DXCM)vs › | $31.90B | 24.75x | 25.55x | 43.52x | 69.64x |
| Centene Corp. (CNC)vs › | $31.90B | N/A | 7.10x | 10.29x | 12.09x |
| ResMed Inc. (RMD)vs › | $32.06B | 15.53x | 16.79x | 19.44x | 23.20x |
| Mettler-Toledo International Inc. (MTD)vs › | $26.79B | 22.16x | 23.38x | 23.57x | 25.70x |
| Labcorp Holdings Inc. (LH)vs › | $26.64B | 14.45x | 13.98x | 15.98x | 12.90x |
At 48.4, EV/EBITDA is above its 20-year median — higher than 100% of readings in its 20-year history.
20-year low
6.8
median
18.5
20-year high
49.7
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-09-04 | 48.41x |
| 2026-09-03 | 48.85x |
| 2026-09-02 | 48.71x |
| 2026-09-01 | 48.03x |
| 2026-08-31 | 48.96x |
| 2026-08-28 | 48.97x |
| 2026-08-27 | 49.66x |
| 2026-08-26 | 48.91x |
| 2026-08-25 | 48.94x |
| 2026-08-24 | 48.55x |
| 2026-08-21 | 48.55x |
| 2026-08-20 | 47.91x |
| 2026-08-19 | 49.09x |
| 2026-08-18 | 47.55x |
| 2026-08-17 | 48.23x |
| 2026-08-14 | 48.70x |
| 2026-08-13 | 48.84x |
| 2026-08-12 | 49.12x |
| 2026-08-11 | 49.00x |
| 2026-08-10 | 40.86x |
| 2026-08-07 | 40.44x |
| 2026-08-06 | 39.82x |
| 2026-08-05 | 39.85x |
| 2026-08-04 | 39.51x |
| 2026-08-03 | 37.67x |
| 2026-07-31 | 37.89x |
| 2026-07-30 | 38.15x |
| 2026-07-29 | 38.08x |
| 2026-07-28 | 38.46x |
| 2026-07-27 | 37.36x |
| 2026-07-24 | 37.66x |
| 2026-07-23 | 38.33x |
| 2026-07-22 | 37.33x |
| 2026-07-21 | 37.05x |
| 2026-07-20 | 36.18x |
| 2026-07-17 | 37.17x |
| 2026-07-16 | 37.97x |
| 2026-07-15 | 37.68x |
| 2026-07-14 | 37.81x |
| 2026-07-13 | 37.54x |
| 2026-07-10 | 37.81x |
| 2026-07-09 | 37.87x |
| 2026-07-08 | 37.10x |
| 2026-07-07 | 37.68x |
| 2026-07-06 | 38.03x |
| 2026-07-02 | 38.06x |
| 2026-07-01 | 37.96x |
| 2026-06-30 | 37.69x |
| 2026-06-29 | 37.16x |
| 2026-06-26 | 37.64x |
| 2026-06-25 | 37.85x |
| 2026-06-24 | 37.19x |
| 2026-06-23 | 36.16x |
| 2026-06-22 | 36.25x |
| 2026-06-18 | 36.00x |
| 2026-06-17 | 36.14x |
| 2026-06-16 | 36.44x |
| 2026-06-15 | 36.20x |
| 2026-06-12 | 36.01x |
| 2026-06-11 | 36.37x |
| 2026-06-10 | 36.67x |
| 2026-06-09 | 37.36x |
| 2026-06-08 | 36.68x |
| 2026-06-05 | 36.86x |
| 2026-06-04 | 37.82x |
| 2026-06-03 | 38.10x |
| 2026-06-02 | 37.43x |
| 2026-06-01 | 37.96x |
| 2026-05-29 | 38.43x |
| 2026-05-28 | 36.97x |
| 2026-05-27 | 34.86x |
| 2026-05-26 | 34.56x |
| 2026-05-22 | 34.88x |
| 2026-05-21 | 34.76x |
| 2026-05-20 | 34.79x |
| 2026-05-19 | 34.09x |
| 2026-05-18 | 34.00x |
| 2026-05-15 | 33.74x |
| 2026-05-14 | 34.09x |
| 2026-05-13 | 34.24x |
| 2026-05-12 | 35.73x |
| 2026-05-11 | 20.69x |
| 2026-05-08 | 21.10x |
| 2026-05-07 | 20.83x |
| 2026-05-06 | 20.78x |
| 2026-05-05 | 20.38x |
| 2026-05-04 | 18.06x |
| 2026-05-01 | 18.36x |
| 2026-04-30 | 18.48x |
| 2026-04-29 | 17.51x |
| 2026-04-28 | 18.00x |
| 2026-04-27 | 17.94x |
| 2026-04-24 | 18.52x |
| 2026-04-23 | 18.59x |
| 2026-04-22 | 19.91x |
| 2026-04-21 | 19.96x |
| 2026-04-20 | 19.98x |
| 2026-04-17 | 19.54x |
| 2026-04-16 | 19.04x |
| 2026-04-15 | 19.45x |
| 2026-04-14 | 19.72x |
| 2026-04-13 | 19.36x |
| 2026-04-10 | 19.09x |
| 2026-04-09 | 18.96x |
| 2026-04-08 | 19.01x |
| 2026-04-07 | 18.37x |
| 2026-04-06 | 18.19x |
| 2026-04-02 | 18.20x |
| 2026-04-01 | 17.95x |
| 2026-03-31 | 17.83x |
| 2026-03-30 | 17.58x |
| 2026-03-27 | 17.34x |
| 2026-03-26 | 17.99x |
| 2026-03-25 | 18.09x |
| 2026-03-24 | 18.06x |
| 2026-03-23 | 18.06x |
| 2026-03-20 | 17.90x |
| 2026-03-19 | 17.93x |
| 2026-03-18 | 17.67x |
| 2026-03-17 | 17.78x |
| 2026-03-16 | 17.39x |
| 2026-03-13 | 17.19x |
| 2026-03-12 | 17.00x |
| 2026-03-11 | 17.81x |
| 2026-03-10 | 17.93x |
| 2026-03-09 | 18.28x |
| 2026-03-06 | 18.10x |
| 2026-03-05 | 18.84x |
| 2026-03-04 | 19.04x |
| 2026-03-03 | 18.65x |
| 2026-03-02 | 18.37x |
| 2026-02-27 | 19.06x |
| 2026-02-26 | 19.26x |
| 2026-02-25 | 19.06x |
| 2026-02-24 | 19.45x |
| 2026-02-23 | 19.54x |
| 2026-02-20 | 20.36x |
| 2026-02-19 | 20.09x |
| 2026-02-18 | 20.02x |
| 2026-02-17 | 19.67x |
| 2026-02-13 | 19.78x |
| 2026-02-12 | 19.58x |
| 2026-02-11 | 20.12x |
| 2026-02-10 | 19.99x |
| 2026-02-09 | 20.06x |
| 2026-02-06 | 23.14x |
| 2026-02-05 | 22.89x |
| 2026-02-04 | 23.32x |
| 2026-02-03 | 23.01x |
| 2026-02-02 | 23.03x |
| 2026-01-30 | 22.53x |
| 2026-01-29 | 22.79x |
| 2026-01-28 | 23.36x |
| 2026-01-27 | 23.66x |
| 2026-01-26 | 23.70x |
| 2026-01-23 | 23.78x |
| 2026-01-22 | 24.26x |
| 2026-01-21 | 24.04x |
| 2026-01-20 | 23.29x |
| 2026-01-16 | 23.50x |
| 2026-01-15 | 23.92x |
| 2026-01-14 | 23.84x |
| 2026-01-13 | 23.88x |
| 2026-01-12 | 23.86x |
| 2026-01-09 | 24.04x |
| 2026-01-08 | 24.04x |
| 2026-01-07 | 24.20x |
| 2026-01-06 | 24.26x |
| 2026-01-05 | 23.94x |
| 2026-01-02 | 23.18x |
| 2025-12-31 | 23.06x |
| 2025-12-30 | 23.30x |
| 2025-12-29 | 23.37x |
| 2025-12-26 | 23.42x |
| 2025-12-24 | 23.35x |
| 2025-12-23 | 23.26x |
| 2025-12-22 | 23.31x |
| 2025-12-19 | 22.96x |
| 2025-12-18 | 22.86x |
| 2025-12-17 | 22.90x |
| 2025-12-16 | 22.98x |
| 2025-12-15 | 23.38x |
| 2025-12-12 | 23.38x |
| 2025-12-11 | 23.78x |
| 2025-12-10 | 23.99x |
| 2025-12-09 | 23.43x |
| 2025-12-08 | 23.81x |
| 2025-12-05 | 23.93x |
| 2025-12-04 | 24.02x |
| 2025-12-03 | 24.09x |
| 2025-12-02 | 24.15x |
| 2025-12-01 | 24.10x |
| 2025-11-28 | 24.43x |
| 2025-11-26 | 24.65x |
| 2025-11-25 | 24.96x |
| 2025-11-24 | 24.20x |
| 2025-11-21 | 23.88x |
| 2025-11-20 | 22.99x |
| 2025-11-19 | 22.85x |
| 2025-11-18 | 22.87x |
| 2025-11-17 | 22.95x |
| 2025-11-14 | 23.03x |
| 2025-11-13 | 23.03x |
| 2025-11-12 | 23.50x |
| 2025-11-11 | 23.43x |
| 2025-11-10 | 22.87x |
| 2025-11-07 | 22.59x |
| 2025-11-06 | 22.56x |
| 2025-11-05 | 22.60x |
| 2025-11-04 | 22.33x |
| 2025-11-03 | 20.94x |
| 2025-10-31 | 21.17x |
| 2025-10-30 | 20.79x |
| 2025-10-29 | 20.82x |
| 2025-10-28 | 20.96x |
| 2025-10-27 | 21.29x |
| 2025-10-24 | 21.74x |
| 2025-10-23 | 21.52x |
| 2025-10-22 | 21.12x |
| 2025-10-21 | 21.15x |
| 2025-10-20 | 20.80x |
| 2025-10-17 | 20.31x |
| 2025-10-16 | 20.33x |
| 2025-10-15 | 20.18x |
| 2025-10-14 | 20.23x |
| 2025-10-13 | 20.41x |
| 2025-10-10 | 20.10x |
| 2025-10-09 | 20.07x |
| 2025-10-08 | 19.91x |
| 2025-10-07 | 19.38x |
| 2025-10-06 | 19.91x |
| 2025-10-03 | 19.95x |
| 2025-10-02 | 19.58x |
| 2025-10-01 | 19.46x |
| 2025-09-30 | 18.32x |
| 2025-09-29 | 17.72x |
| 2025-09-26 | 17.85x |
| 2025-09-25 | 17.63x |
| 2025-09-24 | 17.91x |
| 2025-09-23 | 18.28x |
| 2025-09-22 | 18.47x |
| 2025-09-19 | 18.38x |
| 2025-09-18 | 18.69x |
| 2025-09-17 | 18.54x |
| 2025-09-16 | 18.50x |
| 2025-09-15 | 18.27x |
| 2025-09-12 | 18.06x |
| 2025-09-11 | 18.47x |
| 2025-09-10 | 17.93x |
| 2025-09-09 | 18.36x |
| 2025-09-08 | 18.86x |
| 2025-09-05 | 18.69x |
| 2025-09-04 | 18.31x |
| 2025-09-03 | 17.76x |
| 2025-09-02 | 18.12x |
| 2025-08-29 | 18.43x |
| 2025-08-28 | 18.19x |
| 2025-08-27 | 18.02x |
| 2025-08-26 | 18.11x |
| 2025-08-25 | 18.27x |
Showing the most recent 260 of 5,032 data points. The chart above shows the full history.
