P/B
2,9
Waters
Water 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. As a percentage of sales in 2024, Waters generated 58% from biopharmaceutical customers, 31% from industrial clients, and 11% from academic/government institutions. In early 2026, Waters plans to merge with BD's life science and diagnostics business, which will substantially change those concentrations. Waters will wind up with more concentration in diagnostics (versus none now) and discovery-related life science tools.
Water 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. As a percentage of sales in 2024, Waters generated 58% from biopharmaceutical customers, 31% from industrial clients, and 11% from academic/government institutions. In early 2026, Waters plans to merge with BD's life science and diagnostics business, which will substantially change those concentrations. Waters will wind up with more concentration in diagnostics (versus none now) and discovery-related life science tools.
$43.5B
Market Cap • 9/28/2026
1991
(35 years)
Founded
1995
(31 years ago)
IPO
NYSE
Listing Exchange
United States
Country
S&P500 Participant
Index Composite • 2026
Valuation
P/S
9,4
P/EBITDA
46,2
P/OCF
79,2
P/FCF
109,1
P/E
110,5
BVPS
202,8
EPS
4
Market Cap
Market Cap
43,5B
EV
48,4B
EV/Revenue
10,4
EV/EBITDA
51,4
EV/EBIT
146,9
Payout
Dividend Per Share
0
Dividend Yield
0%
Buyback Yield
0%
Total Yield
0%
Payout
0%
Retained Earnings
10,2B
Profitability
Gross Margin
50,9%
EBITDA Margin
20,3%
EBIT Margin
7,1%
Net Margin
3,6%
D&A/EBITDA
44,6%
R&D/Revenue
6,9%
Capex/Revenue
3,2%
Capex/D&A
24,6%
Capex/OCF
27,4%
SBC/OCF
13,3%
% PPE
7,5%
% Goodwill
38,1%
ROE
1,9%
ROIC
2,1%
Growth
CAGR Revenue 5Y
11,7%
CAGR Op. Income 5Y
-16%
CAGR Net Income 5Y
-24,1%
CAGR EPS 5Y
-17,6%
CAGR OCF 5Y
-7,3%
Leverage
N.D./EBITDA
5,2
Debt/Equity
0%
Current Ratio
1,9
Quick Ratio
1,1
Interest Coverage
220,4%
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