Waters Corporation

Waters Corporation

WATยทNYSE

$379.77

+2.1%
HealthcareMedical - Diagnostics & Research

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It also designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. Its MS technology instruments are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. The company offers thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer good, and healthcare products, as well as for life science research. Its products are used by life science, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts.

At a Glance

Live Snapshot
Market Cap$24.75B
EPS10.8000
P/E Ratio35.16
Earnings Date08/03/2026
Waters Corporation

Waters Corporation Fair Value Envelope

WAT ยท NYSE

Our analysis suggests that WAT has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $379.77, this represents a potential HIDDEN relative to our calculated worth for Waters Corporation.

Intrinsic Value
Current Price: $379.77

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$3.6B
+ Cash & Equivalents$587.8M
Firm Value$4.2B
- Debt$1.4B
Equity Value$2.8B
/ Shares Outstanding59,532,937B
DCF Value$46
OVERVALUED BY 88%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$568.5M
$495.2M
$431.4M
$375.9M
$327.4M
$285.2M
$248.5M
$216.5M
$188.6M
$164.3M
Maintenance CapEx
-$19.6M
-$17.1M
-$14.9M
-$13.0M
-$11.3M
-$9.9M
-$8.6M
-$7.5M
-$6.5M
-$5.7M
Owner Earnings
$548.8M
$478.1M
$416.5M
$362.9M
$316.1M
$275.4M
$239.9M
$209.0M
$182.1M
$158.6M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$508.2M
$409.9M
$330.7M
$266.7M
$215.1M
$173.5M
$140.0M
$112.9M
$91.1M
$73.5M
Terminal Value represents 35.0% of Enterprise Value