Waters Corp (WAT) stock
WATNYSELaboratory Analytical InstrumentsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Oct 3, 2026Last filing: 10-Q on Nov 10, 2026Score 8/30770% above fair value
$460.25−1.95 (-0.42%)
Close on Nov 13, 2026Market cap $45.22BP/E 197.5Yield –
Waters operating margin
Operating margin is operating income as a percentage of revenue.
Waters's operating margin for the twelve months ending Oct 3, 2026 was 4.7%. For fiscal 2025 it was 25.4%, against 27.9% the year before. The highest annual figure on record is 30.6% in fiscal 2018.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 25.4% | −2.6 |
| FY2024 | Dec 31, 2024 | 27.9% | +0.3 |
| FY2023 | Dec 31, 2023 | 27.7% | −1.7 |
| FY2022 | Dec 31, 2022 | 29.4% | −0.1 |
| FY2021 | Dec 31, 2021 | 29.5% | +2.2 |
| FY2020 | Dec 31, 2020 | 27.3% | −2.1 |
| FY2019 | Dec 31, 2019 | 29.4% | −1.1 |
| FY2018 | Dec 31, 2018 | 30.6% | +1.9 |
| FY2017 | Dec 31, 2017 | 28.7% | −0.2 |
| FY2016 | Dec 31, 2016 | 28.8% | +1.1 |
| FY2015 | Dec 31, 2015 | 27.8% | +1.8 |
| FY2014 | Dec 31, 2014 | 26.0% | −1.1 |
| FY2013 | Dec 31, 2013 | 27.2% | −0.6 |
| FY2012 | Dec 31, 2012 | 27.7% | −0.8 |
| FY2011 | Dec 31, 2011 | 28.6% | +1.2 |
| FY2010 | Dec 31, 2010 | 27.4% | +1.0 |
| FY2009 | Dec 31, 2009 | 26.3% | +1.6 |
| FY2008 | Dec 31, 2008 | 24.7% | +1.1 |
| FY2007 | Dec 31, 2007 | 23.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Oct 3, 2026 | 7.2% | −16.8 |
| Q2 FY2026 | Jul 4, 2026 | -5.2% | −29.6 |
| Q1 FY2026 | Apr 4, 2026 | -3.7% | −26.7 |
| Q4 FY2025 | Dec 31, 2025 | 29.0% | −4.5 |
| Q3 FY2025 | Sep 27, 2025 | 24.0% | −4.5 |
| Q2 FY2025 | Jun 28, 2025 | 24.4% | −2.3 |
| Q1 FY2025 | Mar 29, 2025 | 23.0% | +1.9 |
| Q4 FY2024 | Dec 31, 2024 | 33.5% | +1.2 |
| Q3 FY2024 | Sep 28, 2024 | 28.5% | +3.3 |
| Q2 FY2024 | Jun 29, 2024 | 26.7% | −0.3 |
| Q1 FY2024 | Mar 30, 2024 | 21.0% | −4.4 |
| Q4 FY2023 | Dec 31, 2023 | 32.2% | −1.1 |
| Q3 FY2023 | Sep 30, 2023 | 25.2% | −1.9 |
| Q2 FY2023 | Jul 1, 2023 | 27.0% | −1.0 |
| Q1 FY2023 | Apr 1, 2023 | 25.4% | −2.9 |
| Q4 FY2022 | Dec 31, 2022 | 33.3% | +2.0 |
| Q3 FY2022 | Oct 1, 2022 | 27.1% | −2.0 |
| Q2 FY2022 | Jul 2, 2022 | 27.9% | −0.9 |
| Q1 FY2022 | Apr 2, 2022 | 28.3% | +0.2 |
| Q4 FY2021 | Dec 31, 2021 | 31.3% | −2.2 |
| Q3 FY2021 | Oct 2, 2021 | 29.1% | +2.4 |
| Q2 FY2021 | Jul 3, 2021 | 28.8% | −1.0 |
| Q1 FY2021 | Apr 3, 2021 | 28.1% | +13.5 |
| Q4 FY2020 | Dec 31, 2020 | 33.5% | +0.5 |
| Q3 FY2020 | Sep 26, 2020 | 26.7% | −3.3 |
| Q2 FY2020 | Jun 27, 2020 | 29.8% | +0.2 |
| Q1 FY2020 | Mar 28, 2020 | 14.7% | −8.9 |
| Q4 FY2019 | Dec 31, 2019 | 33.0% | −1.2 |
| Q3 FY2019 | Sep 28, 2019 | 30.0% | +0.3 |
| Q2 FY2019 | Jun 29, 2019 | 29.7% | −0.4 |
| Q1 FY2019 | Mar 30, 2019 | 23.6% | −3.6 |
| Q4 FY2018 | Dec 31, 2018 | 34.2% | +0.7 |
| Q3 FY2018 | Sep 29, 2018 | 29.7% | +1.6 |
| Q2 FY2018 | Jun 30, 2018 | 30.1% | +2.5 |
| Q1 FY2018 | Mar 31, 2018 | 27.2% | +3.4 |
| Q4 FY2017 | Dec 31, 2017 | 33.5% | +0.4 |
| Q3 FY2017 | Sep 30, 2017 | 28.1% | – |
| Q2 FY2017 | Jul 1, 2017 | 27.6% | – |
| Q1 FY2017 | Apr 1, 2017 | 23.8% | – |
| Q4 FY2016 | Dec 31, 2016 | 33.1% | – |
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