Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company operates through two segments, Waters and TA. The company designs, manufactures, sells, and services liquid chromatography, as well as mass spectrometry (MS) technology systems and supports products, including chromatography columns, and other consumable products. It also designs, manufactures, sells, and services 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 goods, and healthcare products, as well as for life science research; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. In addition, the company offers MS technology, which is used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. Its products are used by clinical, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. The company was founded in 1958 and is headquartered in Milford, Massachusetts.
Waters Corporation (WAT) reported trailing twelve months (TTM) revenue of $3.17B as of December 2025, which represents a 7.0% increase year-over-year. The company's operating margin has contracted to 33.3% from 33.5% a year ago. In terms of profitability, WAT generated $642.63M in net income. Valuation-wise, the stock trades at a P/E ratio of 35.7x and a Price-to-Sales (P/S) ratio of 7.3x. The company generated $125.58M in free cash flow over the last twelve months, indicating its ability to reinvest in growth or return capital to shareholders. Data based on the most recent quarterly reports.
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