Waters Corp WAT

Morningstar Rating
$425.21 −0.32 (0.08%)
View Full Chart

Company Report

Waters Is Working on Integrating the BD Assets

Historically, Waters has helped clients perform scientific research by providing analytical instruments, services, and supplies. The company specializes in liquid chromatography and mass spectrometry products (nearly 90% of legacy company sales), which are used primarily by biopharmaceutical firms to analyze a molecule’s structure during the drug discovery, development, and production processes. These tools can also be used in food and environmental quality testing as well as other industrial applications. Waters helps scientists examine the physical properties of various materials through its thermal analysis tools (low-double-digit percentage of sales).

Price vs Fair Value

WAT is trading at a LOCK|ghQdDY premium.
Price
$425.53
Fair Value
LOCK|d^
Uncertainty
LOCK|S<BDN
1-Star Price
LOCK|y.#!
5-Star Price
LOCK|h.b?
Economic Moat
LOCK|G&@
Capital Allocation
LOCK|Y!NLf$k

Bulls Say, Bears Say

Bulls

Waters' analytical instruments remain the gold standard in several applications, especially LC-MS for biopharmaceutical firms, where regulations preserve consistent recurring sales for many years.

Bears

With the recent BD merger, Waters could run into integration issues and other challenges while transitioning from a very focused firm to a more diverse one.

News

Articles & Videos

Trading Information

Previous Close Price
$425.53
Day Range
$423.44–433.34
52-Week Range
$282.77–448.21
Bid/Ask
$425.30 / $433.50
Shares Outstanding
98.25M
Market Cap
$41.78B
Volume/Avg
625,597 / 767,553

Key Statistics

Price/Earnings (Normalized)
31.11
Price/Sales
6.86
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
0.03%

Company Profile

Waters sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. In early 2026, Waters merged with Becton Dickinson's life science and diagnostics business, which increased its concentration in diagnostics and discovery-related life science tools.
Sector
Healthcare
Industry
Diagnostics & Research
Stock Style Box
Mid Core
Total Number of Employees
7,900

Competitors

Valuation

Metric
WAT
A
DHR
Price/Earnings (Normalized)
31.1127.5026.08
Price/Book Value
2.756.382.83
Price/Sales
6.866.416.00
Price/Cash Flow
26.5424.9121.01
Price/Earnings
WAT
A
DHR

Financial Strength

Metric
WAT
A
DHR
Quick Ratio
1.051.411.03
Current Ratio
1.862.051.65
Interest Coverage
2.2316.0816.95
Quick Ratio
WAT
A
DHR

Profitability

Metric
WAT
A
DHR
Return on Assets (Normalized)
7.79%13.27%5.34%
Return on Equity (Normalized)
13.28%24.92%8.59%
Return on Invested Capital (Normalized)
10.35%16.95%6.45%
Return on Assets
WAT
A
DHR

Diagnostics & Research Industry Comparables

1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Thermo Fisher Scientific Inc
TMO
LOCK|R#z$sfJnLOCK|x%$241B
Danaher Corp
DHR
LOCK|#@lRCGFLOCK|@n?$149B
Agilent Technologies Inc
A
LOCK|DNK^@jTdLOCK|^K?$47B
IQVIA Holdings Inc
IQV
LOCK|?QsRcPLOCK|yfqb?$43B
IDEXX Laboratories Inc
IDXX
LOCK|RS$kyzwLOCK|VLp$41B
Illumina Inc
ILMN
LOCK|HhDH<n!LOCK|&N$f>$40B
Mettler-Toledo International Inc
MTD
LOCK|@zQLD$>>LOCK|?s$Fm$30B
Quest Diagnostics Inc
DGX
LOCK|$%H$%fZLOCK|zl&#$26B
Labcorp Holdings Inc
LH
LOCK|Fl#wH!rLOCK|^pw&$25B

Sponsor Center