Waters Corporation (WAT) Return on Invested Capital (ROIC): 17.57%
Is Waters Corporation’s return on invested capital (ROIC) high or low?
Waters Corporation's return on invested capital (ROIC) of 17.57% is 23% below its 5-year average of 22.79%, near the low end of its 5-year range (17.57%–28.91%).
As of Thursday, June 11, 2026. 2.39% below its 12-month average of 18.00%.
WAT Return on Invested Capital (ROIC) Chart
WAT Average Return on Invested Capital (ROIC) Chart
WAT Current vs Average Return on Invested Capital (ROIC) Chart
WAT Return on Invested Capital (ROIC) Metrics
RETURN ON INVESTED CAPITAL (ROIC)
17.57%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
18.00%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
20.73%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
22.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
19.25%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
18.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
18.78%
CURRENT VS TTM AVG
-2.39%
CURRENT VS 3Y AVG
-15.22%
CURRENT VS 5Y AVG
-22.89%
CURRENT VS 10Y AVG
-8.72%
CURRENT VS 15Y AVG
-4.66%
CURRENT VS 20Y AVG
-6.44%
WAT Competitors' Return on Invested Capital (ROIC)
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waters Corporation (WAT) | $23.21B | 17.57% | 18.00% | 20.73% | 22.79% |
| Mettler-Toledo International Inc. (MTD) | $22.82B | 35.46% | 38.26% | 37.51% | 36.01% |
| BioNTech SE (BNTX) | $22.39B | -3.14% | -4.79% | 9.55% | 20.42% |
| Veeva Systems Inc. (VEEV) | $26.31B | 9.48% | 9.25% | 9.54% | 11.31% |
| Moderna, Inc. (MRNA) | $18.71B | -29.70% | -31.12% | -12.69% | 0.19% |
| DexCom, Inc. (DXCM) | $28.92B | 16.61% | 13.40% | 11.07% | 9.62% |
| Biogen Inc. (BIIB) | $28.94B | 6.62% | 7.71% | 8.64% | 10.90% |
| Hologic, Inc. (HOLX) | $16.97B | 7.35% | 8.59% | 9.78% | 13.56% |
| IQVIA Holdings Inc. (IQV) | $30.08B | 8.23% | 8.41% | 8.23% | 6.99% |
| Medline Inc. (MDLN) | $31.40B | 5.69% | 6.03% | 3.95% | 3.95% |
Capital Efficiency
ROIC
17.6%
ROE
2.9%
Waters Corporation Return on Invested Capital (ROIC) Formula & Definition
ROIC = NOPAT / Invested Capital
Return on invested capital measures the after-tax return a company earns on all capital (debt and equity) invested in the business.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Waters Corporation Return on Invested Capital (ROIC) FAQ
- What is the return on invested capital (ROIC) for Waters Corporation (WAT)?
- The return on invested capital (ROIC) for WAT stock is 17.57%.
- Is Waters Corporation's return on invested capital (ROIC) high or low?
- Waters Corporation's return on invested capital (ROIC) of 17.57% is 23% below its 5-year average of 22.79%, near the low end of its 5-year range (17.57%–28.91%).
- What is the TTM average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The TTM average return on invested capital (ROIC) for WAT stock is 18.00%.
- What is the 3Y average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The 3Y average return on invested capital (ROIC) for WAT stock is 20.73%.
- What is the 5Y average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The 5Y average return on invested capital (ROIC) for WAT stock is 22.79%.
- What is the 10Y average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The 10Y average return on invested capital (ROIC) for WAT stock is 19.25%.
- What is the 15Y average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The 15Y average return on invested capital (ROIC) for WAT stock is 18.43%.
- What is the 20Y average return on invested capital (ROIC) for Waters Corporation (WAT)?
- The 20Y average return on invested capital (ROIC) for WAT stock is 18.78%.
Waters Corporation Return on Invested Capital (ROIC) History
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2025-12-31 | 17.57% |
| 2024-12-31 | 18.43% |
| 2023-12-31 | 18.22% |
| 2022-12-31 | 28.68% |
| 2021-12-31 | 28.91% |
| 2020-12-31 | 24.91% |
| 2019-12-31 | 29.55% |
| 2018-12-31 | 19.64% |
| 2017-12-31 | 0.44% |
| 2016-12-31 | 12.73% |
| 2015-12-31 | 12.66% |
| 2014-12-31 | 12.94% |
| 2013-12-31 | 14.71% |
| 2012-12-31 | 17.31% |
| 2011-12-31 | 18.63% |
| 2010-12-31 | 19.54% |
| 2009-12-31 | 20.06% |
| 2008-12-31 | 24.66% |
| 2007-12-31 | 18.01% |
| 2006-12-31 | 18.68% |
| 2005-12-31 | 18.09% |
| 2004-12-31 | 19.03% |
| 2003-12-31 | 19.17% |
| 2002-12-31 | 21.76% |
| 2001-12-31 | 19.14% |
| 2000-12-31 | 32.73% |
| 1999-12-31 | 32.15% |
| 1998-12-31 | 25.22% |
| 1997-12-31 | -10.70% |
| 1996-12-31 | 15.82% |
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