Waters Corp (WAT) stock
Close on Nov 11, 2026Market cap $46.27BP/E 202.1Yield –
Waters Corp grew revenue 80.7% to $5.61B over the twelve months to Oct 3, 2026. Operating income fell 67.8% to $265.52M, moving the operating margin from 26.5% to 4.7%. Free cash flow was $290.81M. At the latest close the market valued the company at $46.27B, 202.1 times its earnings.
Key statistics
Valuation at the latest close; fundamentals over the trailing twelve months, balances at Oct 3, 2026
Valuation
- Market cap
- $46.27B
- P/E ratio
- 202.1
- Price to sales
- 8.24
- Price to book
- 3.03
- Dividend yield
- –
- Free cash flow yield
- 0.63%
Fundamentals
- Revenue
- $5.61B
- Net income
- $98.63M
- EPS, diluted
- $2.33
- Free cash flow
- $290.81M
- Book value per share
- $154.45
- Diluted shares
- 99M
Trading
- Next earnings
- Feb 8, 2027 (estimated, before the open)
- Previous close
- $475.52
- Open
- $479.25
- Day's range
- $470.65 – $483.33
- Volume
- 651,946
- Average volume (20 days)
- 1,021,809
- Index membership
- S&P 500, Russell 1000, Russell 3000
- Beta (5 years)
- 0.93
- 52-week range
- $282.77 – $483.33
- RSI (14 days)
- 58.3
- Volatility (1 year)
- 35.4%
- Relative volume
- 0.77×
- WACC
- 9.1%
On 1 of our idea list: Superinvestor favorites
Index membership is inferred from the holdings of funds that track each index (VOO, IVV, SPYM, IWB, IWV), as reported to the SEC for Jun 30, 2026. Join dates come from quarterly fund reports since 2019, so they are accurate to the quarter.
Market cap history
Month-end market cap since 2009, using shares outstanding reported at the time
Total return vs. the S&P 500
Price change plus reinvested dividends, to the close on Nov 11, 2026. The S&P 500 is measured by the SPY fund.
| Period | WAT | S&P 500 | Difference | WAT per year | S&P 500 per year |
|---|---|---|---|---|---|
| 1 month | +8.6% | -2.4% | +11.0 pts | ||
| 3 months | +13.5% | -1.2% | +14.6 pts | ||
| Year to date | +24.0% | +12.3% | +11.7 pts | ||
| 1 year | +22.0% | +12.4% | +9.5 pts | ||
| 3 years | +84.0% | +78.8% | +5.2 pts | +22.5% | +21.4% |
| 5 years | +34.4% | +75.2% | −40.8 pts | +6.1% | +11.9% |
| 10 years | +231.4% | +311.1% | −79.7 pts | +12.7% | +15.2% |
Fifteen years at a glance
Fiscal years 2011 to 2025 and trailing twelve months, USD
Revenue
Gross profit
Operating income
Net income
EPS, diluted
Free cash flow
Press releases
Releases Waters filed with the SEC as exhibits to Form 8-K or 6-K
- Results
- Results
- Results
- News
- News
- News
About Waters
Laboratory Analytical Instruments
Waters Corporation designs, develops, manufactures, distributes, and services analytical instruments, software platforms, and laboratory consumables. Its core technologies encompass liquid chromatography, mass spectrometry, thermal analysis, rheometry, and calorimetry systems, alongside chromatography columns, specialized sample preparation products, and comprehensive post-warranty maintenance services. With the addition of diagnostic and bioscience solutions, the company organizes its operations across four principal segments: Waters Analytical Sciences, Waters Biosciences, Waters Advanced Diagnostics, and Waters Materials Sciences. Its solutions primarily serve customers in the pharmaceutical and life sciences industries, while also supporting industrial manufacturers, environmental testing laboratories, nutritional safety facilities, clinical diagnostic centers, academic institutions, and government agencies.
Company profile, executives and historyWaters stock: common questions
What is Waters's stock price?
WAT closed at $470.90 on Nov 11, 2026, down 0.97% on the day. Over the past 52 weeks it traded between $282.77 and $483.33.
What is Waters's market cap?
Waters was worth $46.27B at the close on Nov 11, 2026: the share price times the diluted shares outstanding.
What is WAT's P/E ratio?
WAT trades at 202.1 times earnings, based on diluted earnings per share of $2.33 over the twelve months to Oct 3, 2026.
How much revenue does Waters make?
Waters reported revenue of $5.61B for the twelve months to Oct 3, 2026, up 80.7% from a year earlier.
Does Waters pay a dividend?
No. Waters has not paid a cash dividend over the last twelve months.
When does Waters report earnings next?
Waters is expected to report Q4 FY2026 results on Feb 8, 2027, before the open. The date is estimated from its past reporting pattern until the company confirms it.
How has WAT stock performed over the past year?
Including dividends, WAT returned +22.0% over the past year, against +12.4% for the S&P 500.
How many WAT shares are sold short?
3M shares were sold short at the latest FINRA report, 3.39% of the float, or 3.6 days of average trading volume.
Who are Waters's competitors?
Companies most similar to Waters by business, industry and size include A, BRKR, AVTR, MTD, BIO.
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