Stock AnalizWaters Corp. WAT
Biotechnology: Laboratory Analytical Instruments · IPO 1995 · data as of November 13, 2026
Waters Corp. (WAT) is a industrial company listed in the US with a market value of about $90.5B. In the twelve months to October 3, 2026 it had revenue of $5.6B and net income of $99M, a net margin of 1.8%.
Its overall Stock Analiz score is 1.6 out of 5 (weak). The strongest part is track record (3/5); the weakest is value (0/5).
Key numbers: a P/E of 197.5, a price to free cash flow of 311.0, 5-year revenue growth of 6% a year, a 5-year average ROIC of 25%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 58% below the current price.
Score: 1.6 / 5
Checks passed
- 5-year average ROIC above 12%
- Profitable 5 years in a row
- ROE above 15%
- Positive free cash flow
- Interest covered more than 5 times
- Liabilities below 60% of assets
- Share count down over 3 years (buybacks)
- Stock-based pay below 5% of revenue
Checks not passed
- P/E below 25
- P/E below the industry median
- P/FCF below 20
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- Revenue growth above 10% last year
- 3-year revenue growth above 10% a year
- Profit margin improving
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6B | $3.2B | $3.0B | $3.0B | $3.0B | $2.8B | $2.4B | $2.4B | $2.4B | $2.3B | $2.2B |
| Net income | $99M | $643M | $638M | $642M | $708M | $693M | $522M | $592M | $594M | $20M | $522M |
| Free cash flow | $291M | $540M | $620M | $442M | $436M | $586M | $618M | $479M | $508M | $612M | $548M |
| EPS (diluted) | $2.33 | $10.76 | $10.71 | $10.84 | $11.73 | $11.17 | $8.36 | $8.69 | $7.65 | $0.25 | $6.41 |
| Net margin | 1.8% | 20.3% | 21.6% | 21.7% | 23.8% | 24.9% | 22.1% | 24.6% | 24.5% | 0.9% | 24.1% |
| ROIC | — | 16.9% | 19.8% | 19.8% | 34.0% | 35.8% | 32.6% | 39.6% | 22.9% | 12.4% | 13.1% |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 23 analysts is $503.29, 9% above the current price; targets range from $387.00 to $550.00; the consensus rating is “Buy”; expected EPS is $14.67 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is Waters’s P/E ratio?
About 197.5, based on the last twelve months of diluted earnings per share (forward P/E about 28.5).
Is Waters stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 58% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Waters pay a dividend?
Not currently.
Is Waters a good stock to buy?
We do not give buy or sell advice. Waters scores 1.6 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.