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Healthcare - Medical - Diagnostics & Research - NYSE - US
$ 325.8
0.271 %
$ 19.4 B
Market Cap
30.39
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WAT stock under the worst case scenario is HIDDEN Compared to the current market price of 326 USD, Waters Corporation is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WAT stock under the base case scenario is HIDDEN Compared to the current market price of 326 USD, Waters Corporation is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one WAT stock under the best case scenario is HIDDEN Compared to the current market price of 326 USD, Waters Corporation is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart WAT

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$420.0$420.0$410.0$410.0$400.0$400.0$390.0$390.0$380.0$380.0$370.0$370.0$360.0$360.0$350.0$350.0$340.0$340.0$330.0$330.0$320.0$320.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
2.96 B REVENUE
0.07%
826 M OPERATING INCOME
1.06%
638 M NET INCOME
-0.69%
762 M OPERATING CASH FLOW
26.43%
-144 M INVESTING CASH FLOW
90.01%
-697 M FINANCING CASH FLOW
-92.28%
873 M REVENUE
17.89%
292 M OPERATING INCOME
38.43%
231 M NET INCOME
43.28%
240 M OPERATING CASH FLOW
17.38%
-52.1 M INVESTING CASH FLOW
-100.04%
-194 M FINANCING CASH FLOW
-9.44%
Balance Sheet Waters Corporation
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Current Assets 1.67 B
Cash & Short-Term Investments 325 M
Receivables 733 M
Other Current Assets 610 M
Non-Current Assets 2.88 B
Long-Term Investments 0
PP&E 725 M
Other Non-Current Assets 2.16 B
7.14 %16.10 %13.40 %15.93 %47.42 %Total Assets$4.6b
Current Liabilities 790 M
Accounts Payable 99.9 M
Short-Term Debt 25.5 M
Other Current Liabilities 664 M
Non-Current Liabilities 1.94 B
Long-Term Debt 1.68 B
Other Non-Current Liabilities 259 M
3.67 %24.38 %61.53 %9.49 %Total Liabilities$2.7b
EFFICIENCY
Earnings Waterfall Waters Corporation
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Revenue 2.96 B
Cost Of Revenue 748 M
Gross Profit 2.21 B
Operating Expenses 1.38 B
Operating Income 826 M
Other Expenses 189 M
Net Income 638 M
3b3b3b3b2b2b2b2b1b1b500m500m003b(748m)2b(1b)826m(189m)638mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
74.72% GROSS MARGIN
74.72%
27.93% OPERATING MARGIN
27.93%
21.56% NET MARGIN
21.56%
34.88% ROE
34.88%
14.01% ROA
14.01%
18.43% ROIC
18.43%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Waters Corporation
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700m700m600m600m500m500m400m400m300m300m200m200m100m100m0020162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 638 M
Depreciation & Amortization 192 M
Capital Expenditures -142 M
Stock-Based Compensation 44.7 M
Change in Working Capital -111 M
Others -132 M
Free Cash Flow 620 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Waters Corporation
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Wall Street analysts predict an average 1-year price target for WAT of $354 , with forecasts ranging from a low of $300 to a high of $415 .
WAT Lowest Price Target Wall Street Target
300 USD -7.92%
WAT Average Price Target Wall Street Target
354 USD 8.62%
WAT Highest Price Target Wall Street Target
415 USD 27.38%
Price
Max Price Target
Min Price Target
Average Price Target
420420400400380380360360340340320320300300280280May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
5. COMPETITION
slide 2 of 11
6. Ownership
Insider Ownership Waters Corporation
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Sold
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6-9 MONTHS
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9-12 MONTHS
1.45 M USD 1
Bought
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6-9 MONTHS
333 K USD 1
9-12 MONTHS
7. News
Waters Expands Alliance iS Bio HPLC Product Line with Photodiode Array Detector to Enhance Spectral Insights for Biopharma Development & QC News Summary Boosts out-of-the-box sensitivity by up to 80 times with MaxPeakTM Premier columns.1 Delivers over threefold improvements in day-to-day reproducibility2 and decreases carryover by up to two orders of magnitude.3 Reduces common user errors by up to 40%.4 MILFORD, Mass. , April 1, 2025 /PRNewswire/ -- Waters Corporation (NYSE:WAT) today announced the expansion of the Alliance™ iS Bio HPLC product line with integrated photodiode array (PDA) detection, advancing the capabilities of the next-generation intelligent HPLC platform designed for development and Quality Control (QC) laboratories. prnewswire.com - 2 weeks ago
BP and SOCAR Enter Israeli Waters With Gas Exploration Deal BP and SOCAR secure offshore gas licenses in Israel, a strategic move as Israel strengthens its role in the global energy market and expands natural gas exports. zacks.com - 1 month ago
Winnebago Is Still Facing Choppy Waters Winnebago Industries, Inc. is still trying to navigate a massive downturn in the RV and boating industry over the past couple of years. The company's earnings skyrocketed from $3.52/share in 2019 to $11.82/share in 2022, but have since plummeted since then. Winnebago is making smart moves to adjust to macroeconomic conditions, but it hasn't been enough to offset the huge decline in demand. seekingalpha.com - 1 month ago
Waters Corporation to Present at the Leerink Partners Global Healthcare Conference MILFORD, Mass. , March 7, 2025 /PRNewswire/ -- Waters Corporation (NYSE: WAT) announced that Udit Batra Ph.D. prnewswire.com - 1 month ago
Waters Corporation: Instrument Replacement Cycle Momentum, But Valuation Is A Concern Waters Corp reported better-than-expected Q4'24 and FY'24 results, driven by strong performance in academia, government, and pharma segments, despite FX headwinds impacting gross margins. The company anticipates continued growth in 2025, with projected revenue growth between 4.5% and 7%, supported by emerging markets like India and high-growth areas like GLP-1 and PFAS testing. Risks include elevated valuations and limited opportunities for cash deployment, making buybacks less attractive; current valuation appears challenging compared to historical averages and peers. seekingalpha.com - 1 month ago
WAT Earnings & Sales Surpass Estimates in Q4, Shares Rise WAT's fourth-quarter 2024 results reflect strong pharma growth and robust gains across all regions. However, forex headwinds hurt. zacks.com - 2 months ago
Waters Corporation (WAT) Q4 2024 Earnings Call Transcript Waters Corporation (NYSE:WAT ) Q4 2024 Earnings Conference Call February 12, 2025 8:00 AM ET Company Participants Caspar Tudor - Head of Investor Relations Udit Batra - President & Chief Executive Officer Amol Chaubal - Senior Vice President & Chief Financial Officer Conference Call Participants Tycho Peterson - Jefferies Vijay Kumar - Evercore ISI Puneet Souda - Leerink Eve Burstein - Bernstein Brandon Couillard - Wells Fargo Dan Arias - Stifel Dan Brennan - TD Cowen Catherine Schulte - Baird Operator Good morning. Welcome to the Waters Corporation Fourth Quarter 2024 Financial Results Conference Call. seekingalpha.com - 2 months ago
Waters (WAT) Q4 Earnings and Revenues Top Estimates Waters (WAT) came out with quarterly earnings of $4.10 per share, beating the Zacks Consensus Estimate of $4.02 per share. This compares to earnings of $3.62 per share a year ago. zacks.com - 2 months ago
Waters Corporation (NYSE: WAT) Reports Fourth Quarter and Full-Year 2024 Financial Results Highlights Fourth Quarter 2024 Sales of $873 million exceeded high-end of guidance range, grew 6% as reported and 8% in constant currency Instruments grew 8% and recurring revenue grew 9% in constant currency, as growth accelerated across all three reported regions Pharma grew 10% in constant currency, reflecting stronger-than-expected year-end spending dynamics and broad-based growth across the Americas, Europe, and Asia GAAP EPS of $3.88; non-GAAP EPS of $4.10 grew 13% as strong operational performance and better-than-expected sales volume offset foreign exchange headwinds Full-Year 2024 Sales exceeded guidance at $2,958 million, flat as reported and in organic constant currency GAAP operating income margin of 27.9%; operational excellence drove adjusted operating income margin expansion to 31.0%, effectively neutralizing the challenges posed by foreign exchange headwinds GAAP EPS of $10.71; non-GAAP EPS of $11.86 grew 1% versus 2023, which includes a 5% impact due to foreign exchange headwinds Generated $762 million in operating cash flow; $744 million in free cash flow, representing 25% of full-year sales, and a free cash flow to adjusted net income ratio of 105% MILFORD, Mass. , Feb. 12, 2025 /PRNewswire/ -- Waters Corporation (NYSE: WAT) today announced its financial results for the fourth quarter and full-year 2024. prnewswire.com - 2 months ago
Waters ElectroForce Apex 1 Instrument Offers Increased Versatility, Simplicity, and Speed to Mechanical Testing of Advanced Polymer Materials News Summary: Offers increased versatility and data-driven insights with 43% greater motor stroke range (100 mm),1 expanding testing to more materials across diverse industries. Improved dynamic performance completes fatigue testing up to 30% faster than the competition,2 increasing the speed of product development and validation. prnewswire.com - 2 months ago
Weighing In On Waters Corporation: Facing A Valuation Headwind Today, we take a more in-depth look at Waters Corporation, which provides analytical workflow solutions, primarily to the Pharma and Industrial industries. WAT stock has surged 35% since July lows, but analysts are growing increasingly cautious due to valuation concerns, with mixed ratings and tepid price targets. From a historical perspective, the equity now trades at the very top of its historical P/S and P/E ratios. seekingalpha.com - 2 months ago
Innovative Waters TGA Smart-Seal Pans Enable Lower Cost, More Efficient Benchtop Analysis of Atmosphere-Sensitive Materials News Summary: New and proprietary product enabling laboratories to analyze atmosphere-sensitive materials used to develop batteries, advanced polymers, and medicines in a standard laboratory benchtop-installed thermogravimetric analyzer (TGA). Reduces the cost and footprint of the TGA system by up to 50%i by helping eliminate the need for environment-controlled housing, or glovebox. prnewswire.com - 2 months ago
8. Profile Summary

Waters Corporation WAT

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COUNTRY US
INDUSTRY Medical - Diagnostics & Research
MARKET CAP $ 19.4 B
Dividend Yield 0.00%
Description 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.
Contact 34 Maple Street, Milford, MA, 01757 https://www.waters.com
IPO Date Nov. 17, 1995
Employees 7600
Officers Dr. Udit Batra Ph.D. President, Chief Executive Officer & Director Mr. Robert L. Carpio III Senior Vice President of Waters Division Mr. Caspar Tudor Head of Investor Relations Mr. Christos Ross Senior Vice President of Global Operations Dr. Daniel Rush Ph.D. Senior Vice President of Strategy & Transformation Mr. Amol Chaubal Senior Vice President & Chief Financial Officer Ms. Kristen Garvey Vice President of Corporate Communications Ms. Cheryl Kennedy Senior Vice President of Human Resources Ms. Keeley A. Aleman J.D. Senior Vice President, General Counsel & Corporate Secretary Ms. Jianqing Y. Bennett Senior Vice President of TA Instruments Division & Waters Clinical Business Unit