Waters Corporation (WAT) Stock: Price, Forecast & Analyst Target
Waters Corporation (WAT) — MoonshotScore 64/100 (Fair band), calculated Oct 5, 2026. Price $438.40 (+3.10%), as of the Oct 5, 2026 trading session; market cap $43.0B. Expected results Oct 30, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 79.78× (market value Oct 5, 2026; cash Jul 4, 2026) · expected results Oct 30, 2026
Waters Corporation · WAT · NYSE · Healthcare · Medical - Diagnostics & Research
Research dated 2026-09-12: Waters sells laboratory measurement systems, chemistry consumables, software and instrument service across pharmaceutical, life-science and industrial workflows. Its case now depends on whether a much larger reported business can convert rising sales and recurring installed-base revenue into restored accounting profit and durable cash generation.
Price as of Oct 5, 2026
Key Statistics
MoonshotScore v2 · Waters (WAT)
FairWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
High quality, but a strained balance sheet; the market is already moving on it. Business Quality: Solid; Financial Safety: Strained; Valuation: Full; Growth Durability: Flat; Momentum: Surging.
- quarterly revenue $1.65B (Q2 FY2026, quarter ended Jul 2026)
- EPS beat 6 of 8
- expected results Oct 30, 2026
Holding back: balance-sheet strain
Helping: business quality, positive momentum
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 64 | Fair | |
| 65 | Strong | |
| 65 | Strong | |
| 65 | Fair | |
| 65 | Fair | |
| 64 | Fair |
The score was 64 in the stored Oct 4, 2026 snapshot and remains 64 in the current publication computed Oct 5, 2026 (0); the largest pillar moves were Growth Durability -5 and Business Quality -1; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $438.40 | |
| Change on the day | +3.10% | |
| 52-week range | $282.77 – $448.21 | |
| Market capitalisation | $43.0B | |
| Price / earnings (trailing) | 259.14 | |
| Shares traded on the day | 572K | |
| Beta (volatility vs the S&P 500) | 1.19 |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings call · management outlook
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
In Biosciences, we will benefit from China localization and new commercial leadership in the second half, positioning us well with the local biotech and CDMO community and driving faster growth while the launch of FACSDiscover A7 coincides nicely with the strengthening biotech and academic end market in the U.S.
Udit Batra · Statement from
We now expect Biosciences and Diagnostic Solutions to deliver approximately $3.045 billion of reported revenue in 2026, raising our prior guidance by $10 million, which reflects an underlying improvement of $25 million, offset by $15 million of FX.
Amol Chaubal · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for Waters (WAT): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
5-Factor Breakdown
Legends Council
5 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 1, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as overvalued against its own estimate of value.
Readings on this page are from Oct 6, 2026, except a card that shows its own read date.
Watch the WAT film — every key number, told as a short cinematic story
~2 min · open the film
What is Waters (WAT), and what does it report?
Short answer · as of
Waters is not primarily a clinical-testing operator despite its diagnostics classification.
Research dated 2026-09-12.
Waters is not primarily a clinical-testing operator despite its diagnostics classification. It supplies the instruments and supporting products laboratories use for chromatography, mass spectrometry, thermal analysis, rheometry and calorimetry, with demand tied to research, drug development, quality control, materials testing and routine laboratory work.
Reported revenue combines Waters instrument systems, Waters service, chemistry consumables, TA instrument systems and TA service. Instrument placements create follow-on demand for columns, software and post-warranty support, so the sales mix reflects equipment purchasing alongside recurring use of an installed base.
What do the latest results show for Waters (WAT)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $1.65B.
Research dated 2026-09-12.
The latest reported periods show a sharp expansion in revenue alongside accounting losses, after the latest annual period had delivered higher sales and remained profitable. Gross profit grew in absolute terms, but research and selling expenses climbed far faster than their earlier quarterly run rates, leaving operating and net results below zero.
That accounting picture differs from the earnings releases, where adjusted earnings and revenue continued to exceed estimates. A filing records the completion of an acquisition, while management now frames its outlook around Biosciences and Diagnostic Solutions; management attributes the expected improvement to China localization, new commercial leadership and firmer biotech and academic demand, partly offset by currency effects.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $1.65B Jul 4, 2026
- Latest quarter · R&D
- $122.00M Jul 4, 2026
- Latest quarter · SG&A
- $405.00M Jul 4, 2026
- Latest quarter · FMP standardized operating result
- −$86.00M Jul 4, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jul 4, 2026 | $1.65B | $122.00M | $405.00M | −$86.00M |
| Apr 4, 2026 | $1.27B | $96.00M | $394.00M | −$47.00M |
| Dec 31, 2025 | $932.36M | $50.10M | $196.74M | $310.58M |
| Sep 27, 2025 | $799.89M | $53.64M | $214.23M | $192.11M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $1.65B Aug 4, 2026
- Latest report · revenue estimate
- $1.62B Aug 4, 2026
- Latest report · revenue vs estimate
- Above estimate Aug 4, 2026
- Latest report · EPS vs estimate
- Above estimate Aug 4, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 4, 2026 | $1.65B | $1.62B | $3.0500 | $3.0100 |
| May 5, 2026 | $1.27B | $1.20B | $2.7000 | $2.3100 |
| Feb 9, 2026 | $932.36M | $928.34M | $4.5300 | $4.5100 |
| Nov 4, 2025 | $799.89M | $781.01M | $3.4000 | $3.2100 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $1.65B | -$136M | -$1.39 (diluted) |
| Q1 FY2026 | $1.27B | -$72M | -$0.87 (diluted) |
| Q4 FY2025 | $932M | $225M | $3.77 (diluted) |
| Q3 FY2025 | $800M | $149M | $2.50 (diluted) |
What are the financial strengths and risks for Waters (WAT)?
Short answer
Cash and short-term investments were $539.00M at the Jul 4, 2026 balance-sheet date. Operating cash flow was $201.00M for the quarter ended Jul 4, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
Waters entered the change in reporting scope with a record of annual profitability and a revenue base that includes substantial service and consumables sales. Operating cash flow rebounded strongly in the latest period after slipping slightly below zero in the preceding period, and cash has risen from earlier levels despite uneven quarterly conversion.
Debt materially exceeds cash and investments, while trailing profitability and returns have fallen well below the levels implied by the prior annual record. That combination makes execution more sensitive: weak instrument demand would pressure a major revenue line, and failure to turn the enlarged cost base into profit would leave less room to absorb the debt burden. Service and chemistry consumables provide a recurring counterweight, but they do not eliminate that risk.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $201.00M Jul 4, 2026
- Previous quarter · operating cash flow
- −$3.00M Apr 4, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jul 4, 2026 | $201.00M | −$48.00M |
| Apr 4, 2026 | −$3.00M | −$39.00M |
| Dec 31, 2025 | $164.55M | −$38.97M |
| Sep 27, 2025 | $187.31M | −$25.44M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Waters (WAT)?
Short answer · as of
The next earnings report is expected on Oct 30, 2026.
Research dated 2026-09-12.
The next earnings release needs to reconcile three moving pieces: management's expected organic constant-currency growth, the much larger Biosciences and Diagnostic Solutions revenue base, and the persistence of reported operating losses. Revenue meeting management's seasonal expectations would establish demand momentum; renewed accounting profit would show that expense growth is beginning to settle.
Cash conversion deserves equal weight. Sustained positive operating cash flow after capital spending, accompanied by a stable or improving cash balance, would strengthen the enlarged company's financial footing; renewed cash weakness while debt remains elevated would point the other way.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
In Biosciences, we will benefit from China localization and new commercial leadership in the second half, positioning us well with the local biotech and CDMO community and driving faster growth while the launch of FACSDiscover A7 coincides nicely with the strengthening biotech and academic end market in the U.S.
Udit Batra ·
We now expect Biosciences and Diagnostic Solutions to deliver approximately $3.045 billion of reported revenue in 2026, raising our prior guidance by $10 million, which reflects an underlying improvement of $25 million, offset by $15 million of FX.
Amol Chaubal ·
For the third quarter of 2026, we expect organic constant currency revenue growth to be in the range of 8% to 10%.
Amol Chaubal ·
We expect revenue from Biosciences and Diagnostic Solutions to be approximately $895 million in the third quarter of 2026, in line with the typical sequential seasonality for these businesses.
Amol Chaubal ·
How does Waters compare with its peers?
Short answer
Waters's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
Waters combines high-value analytical instruments with columns, software and post-warranty service used throughout laboratory workflows. Relative to a business dependent mainly on fresh instrument placements, its installed base can generate repeat consumables and service demand; relative to a consumables specialist, however, Waters retains meaningful exposure to laboratory capital spending.
Its breadth also extends beyond drug research and diagnostics into thermal and material characterization for polymers, metals, chemicals and viscous materials. The relevant comparison is therefore with diversified analytical-instrument suppliers, not with laboratories that perform tests or narrowly focused diagnostic vendors.
| Company | Price | Market value | Score |
|---|---|---|---|
| $86.90 Oct 5, 2026 | $32.8B | 96 5-pillar Oct 5, 2026 | |
| $293.69 Oct 5, 2026 | $44.2B | 93 5-pillar Oct 5, 2026 | |
| $527.07 Oct 5, 2026 | $40.9B | 93 5-pillar Oct 5, 2026 | |
| $620.51 Oct 5, 2026 | $16.7B | 92 5-pillar Oct 5, 2026 | |
| $211.07 Oct 5, 2026 | $20.3B | 87 5-pillar Oct 5, 2026 | |
| $171.27 Oct 5, 2026 | $48.4B | 84 5-pillar Oct 5, 2026 | |
| $1541.63 Oct 5, 2026 | $31.2B | 82 5-pillar Oct 5, 2026 | |
| $232.22 Oct 5, 2026 | $25.6B | 74 5-pillar Oct 5, 2026 | |
| $266.09 Oct 5, 2026 | $43.8B | 73 5-pillar Oct 5, 2026 | |
| $308.65 Oct 5, 2026 | $25.3B | 71 5-pillar Oct 5, 2026 | |
| $157.36 Oct 5, 2026 | $17.6B | 71 5-pillar Oct 5, 2026 | |
| $168.33 Oct 5, 2026 | $12.9B | 70 5-pillar Oct 5, 2026 | |
| Waters (WAT) — this page | $438.40 | $43.0B | 64 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $387.00 – $515.00
- Consensus target
- $450.17
- Median target
- $447.50
Consensus record · Captured .
Measured against a quoted price of $438.40 (as of Oct 5, 2026).
Insider activity
Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Sep 30, 2026
- Transactions
- 9
- Identified insiders
- 5
- Purchases
- 0
- Sales
- 1
- Other transactions
- 8
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Reporting holders
- 1,202 Period end Jun 30, 2026
- Previous quarter · holders
- 1,192 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 8,484,939 |
| Vanguard Capital Management LLC | 6,415,552 |
| Vanguard Portfolio Management LLC | 4,740,524 |
| Massachusetts Financial Services Co /Ma/ | 4,625,035 |
| State Street Corp | 4,382,008 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Waters (WAT)?
Common Questions About WAT (Healthcare)
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
Why do Waters instrument placements matter for service and chemistry consumables?
A placement expands the installed base that can require chromatography columns, compatible software and post-warranty support. Instrument demand therefore affects current sales and the opportunity for recurring revenue afterward.
Why did Waters report losses while adjusted earnings beat estimates?
The income statement shows sharply higher research and selling expenses during periods of much greater reported revenue, producing accounting losses. The earnings releases present adjusted earnings above estimates, so readers should track the reconciliation between adjusted performance and reported profit.
What would confirm Waters Biosciences and Diagnostic Solutions momentum?
Organic constant-currency growth consistent with management's outlook, supported by the cited China, biotech and academic channels, would confirm demand momentum. It would be more persuasive if operating profit and cash conversion improved with revenue.
How exposed is Waters to laboratory instrument spending?
Instrument systems remain a major source of revenue across the Waters and TA divisions, leaving results sensitive to laboratory purchasing cycles. Service and chemistry consumables diversify that exposure through demand associated with instruments already in use.
What is the WAT stock price today?
The last price recorded on this page for Waters Corporation (WAT) is $438.40, as of the Oct 5, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the WAT price target?
The analyst consensus price target for Waters Corporation (WAT) is $450.17 (range $387.00 to $515.00, median $447.50), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
When are WAT's next earnings?
The next earnings date listed on this page for Waters Corporation (WAT) is Oct 30, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (80 figures)
The 80 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Udit Batra (Aug 4, 2026): In Biosciences, we will benefit from China localization and new commercial leadership in the second half, positioning us well with the local biotech and CDMO community and driving faster growth while the launch of FACSDiscover A7 coincides nicely with the strengthening biotech and academic end market in the U.S. Amol Chaubal (Aug 4, 2026): We now expect Biosciences and Diagnostic Solutions to deliver approximately $3.045 billion of reported revenue in 2026, raising our prior guidance by $10 million, which reflects an underlying improvement of $25 million, offset by $15 million of FX. Amol Chaubal (Aug 4, 2026): For the third quarter of 2026, we expect organic constant currency revenue growth to be in the range of 8% to 10%. Amol Chaubal (Aug 4, 2026): We expect revenue from Biosciences and Diagnostic Solutions to be approximately $895 million in the third quarter of 2026, in line with the typical sequential seasonality for these businesses. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | Milford, MA | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "34 Maple Street, Milford, MA, 01757, US". |
FMP — 70 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $438.40 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-05T18:30:31.000Z. | |
px.change | Change on the day | +3.10% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $43.0B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-05. FMP quote timestamp: 2026-10-05T18:30:31.000Z. Captured from FMP at 2026-10-05T18:30:46.298Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | +$13.19 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $1.65B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.pe | Price / earnings (trailing) | 259.14 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 572K | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 1.19 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Udit Batra | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 7,900 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $2.79B, net result $692.84M; FY2022 revenue $2.97B, net result $707.76M; FY2023 revenue $2.96B, net result $642.23M; FY2024 revenue $2.96B, net result $637.83M; FY2025 revenue $3.17B, net result $642.63M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Ta Service $108.02M · Waters Service $1.08B · Chemistry Consumables $631.46M · Ta Instrument Systems $243.82M · Waters Instrument Systems $1.10B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 50.8% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-07-04.revenue_k | Revenue — period end 2026-07-04 | $1.65B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-07-04.rd_k | R&D — period end 2026-07-04 | $122.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-07-04.sga_k | SG&A — period end 2026-07-04 | $405.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-07-04.operating_result_k | FMP standardized operating result — period end 2026-07-04 | −$86.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-04-04.revenue_k | Revenue — period end 2026-04-04 | $1.27B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-04-04.rd_k | R&D — period end 2026-04-04 | $96.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-04-04.sga_k | SG&A — period end 2026-04-04 | $394.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-04-04.operating_result_k | FMP standardized operating result — period end 2026-04-04 | −$47.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $932.36M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.rd_k | R&D — period end 2025-12-31 | $50.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $196.74M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $310.58M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-27.revenue_k | Revenue — period end 2025-09-27 | $799.89M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-27.rd_k | R&D — period end 2025-09-27 | $53.64M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-27.sga_k | SG&A — period end 2025-09-27 | $214.23M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-27.operating_result_k | FMP standardized operating result — period end 2025-09-27 | $192.11M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-04.revenue_actual | Revenue · reported — report date 2026-08-04 | $1.65B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.revenue_estimated | Revenue · estimate — report date 2026-08-04 | $1.62B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.eps_actual | EPS · reported — report date 2026-08-04 | $3.0500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-04.eps_estimated | EPS · estimate — report date 2026-08-04 | $3.0100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-05.revenue_actual | Revenue · reported — report date 2026-05-05 | $1.27B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-05.revenue_estimated | Revenue · estimate — report date 2026-05-05 | $1.20B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-05.eps_actual | EPS · reported — report date 2026-05-05 | $2.7000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-05.eps_estimated | EPS · estimate — report date 2026-05-05 | $2.3100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.revenue_actual | Revenue · reported — report date 2026-02-09 | $932.36M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.revenue_estimated | Revenue · estimate — report date 2026-02-09 | $928.34M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.eps_actual | EPS · reported — report date 2026-02-09 | $4.5300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-09.eps_estimated | EPS · estimate — report date 2026-02-09 | $4.5100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.revenue_actual | Revenue · reported — report date 2025-11-04 | $799.89M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.revenue_estimated | Revenue · estimate — report date 2025-11-04 | $781.01M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.eps_actual | EPS · reported — report date 2025-11-04 | $3.4000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-04.eps_estimated | EPS · estimate — report date 2025-11-04 | $3.2100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $539.00M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $201.00M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-07-04. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $0.00 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $5.25B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 2.75× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-07-04.operating_cash_flow_m | Operating cash flow — period end 2026-07-04 | $201.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-04-04.operating_cash_flow_m | Operating cash flow — period end 2026-04-04 | −$3.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-07-04.capex_m | Capital expenditure (reported) — period end 2026-07-04 | −$48.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-04-04.capex_m | Capital expenditure (reported) — period end 2026-04-04 | −$39.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $164.55M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$38.97M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-27.operating_cash_flow_m | Operating cash flow — period end 2025-09-27 | $187.31M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-27.capex_m | Capital expenditure (reported) — period end 2025-09-27 | −$25.44M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $387.00 – $515.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $450.17 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $447.50 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 9 transactions · 0 purchases, 1 sales, 8 other transactions · 5 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Sep 30, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.holders | Reporting holders | 1,202 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 1,192 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 8,484,939 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Vanguard Capital Management LLC — shares in provider snapshot | 6,415,552 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 4,740,524 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Massachusetts Financial Services Co /Ma/ — shares in provider snapshot | 4,625,035 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | State Street Corp — shares in provider snapshot | 4,382,008 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 3 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 30, 2026 | UNRECORDED | Stored earnings-calendar observation — Captured 2026-09-30 | |
earn.history | Reported versus estimated, recent quarters | EPS beat 6 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-10-04 | |
px.range52 | 52-week range | $282.77 – $448.21 | UNRECORDED | Stored company-profile observation — Captured 2026-10-04 |
COMPUTED — 3 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 79.78× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $539.00M at Jul 4, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-05. Balance-sheet reference date: 2026-07-04. The inputs do not establish a single common source date for this ratio. |
earn.history.depth.2026-08-04.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($1.65B) with the recorded estimate ($1.62B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-04.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($3.0500) with the recorded estimate ($3.0100) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 64 of 100 · Fair · pillars 71 / 28 / 40 / 59 / 85 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 64 (stored snapshot Oct 4, 2026) → 64 (current publication computed Oct 5, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots |
Fact-family notes
- Quarterly statement note. Source series as of 2026-07-04. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-07-04.revenue_k,fin.q_table.depth.2026-07-04.rd_k,fin.q_table.depth.2026-07-04.sga_k,fin.q_table.depth.2026-07-04.operating_result_k,fin.q_table.depth.2026-04-04.revenue_k,fin.q_table.depth.2026-04-04.rd_k,fin.q_table.depth.2026-04-04.sga_k,fin.q_table.depth.2026-04-04.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.rd_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-27.revenue_k,fin.q_table.depth.2025-09-27.rd_k,fin.q_table.depth.2025-09-27.sga_k,fin.q_table.depth.2025-09-27.operating_result_k. - Earnings-history note. Source series as of 2026-08-04. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-04.revenue_actual,earn.history.depth.2026-08-04.revenue_estimated,earn.history.depth.2026-08-04.revenue_actual.comparison,earn.history.depth.2026-08-04.eps_actual.comparison,earn.history.depth.2026-08-04.eps_actual,earn.history.depth.2026-08-04.eps_estimated,earn.history.depth.2026-05-05.revenue_actual,earn.history.depth.2026-05-05.revenue_estimated,earn.history.depth.2026-05-05.eps_actual,earn.history.depth.2026-05-05.eps_estimated,earn.history.depth.2026-02-09.revenue_actual,earn.history.depth.2026-02-09.revenue_estimated,earn.history.depth.2026-02-09.eps_actual,earn.history.depth.2026-02-09.eps_estimated,earn.history.depth.2025-11-04.revenue_actual,earn.history.depth.2025-11-04.revenue_estimated,earn.history.depth.2025-11-04.eps_actual,earn.history.depth.2025-11-04.eps_estimated. - Cash-flow note. Source series as of 2026-07-04. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-07-04.operating_cash_flow_m,fin.opcf.depth.2026-04-04.operating_cash_flow_m,fin.opcf.depth.2026-07-04.capex_m,fin.opcf.depth.2026-04-04.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-27.operating_cash_flow_m,fin.opcf.depth.2025-09-27.capex_m.
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Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | Waters Corporation is a global leader in specialized measurement, delivering analytical solutions across Asia, the Americas, and Europe. The company operates through two main divisions: Waters and TA. Under its Waters segment, it engineers, manufactures, sells, and provides support for high and ultra-performance liquid chromatography and mass spectrometry (MS) systems. This includes essential consumables like chromatography columns and comprehensive post-warranty service plans. The TA segment focuses on designing, producing, selling, and servicing instruments for thermal analysis, rheometry, and calorimetry. Additionally, Waters develops and supplies sophisticated software that integrates with both its own instruments and those from other manufacturers. The company's advanced MS technology plays a crucial role in various applications, such as drug discovery and development (including clinical trial assessments), analyzing proteins involved in disease processes, ensuring nutritional safety, and conducting environmental testing. Its thermal analysis, rheometry, and calorimetry instruments are vital for assessing the suitability and stability of a wide range of materials, including fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids. These instruments support diverse sectors like industrial manufacturing, consumer goods, healthcare products, and life science research. Waters' extensive client base spans the life sciences, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental sectors, where its products are instrumental in research and development, quality assurance, and general laboratory operations. Established in 1958, Waters Corporation is headquartered in Milford, Massachusetts. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Ta Service: $108.02M; Waters Service: $1.08B; Chemistry Consumables: $631.46M; Ta Instrument Systems: $243.82M; Waters Instrument Systems: $1.10B | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-07-04 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-07-04 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Recent SEC filings |
| 2026-08-21 | OFFICIAL | SEC EDGAR filer submissions |
| Sector / industry (provider taxonomy) | Healthcare / Medical - Diagnostics & Research The company's SEC filings classify it under SIC 3826 — Laboratory Analytical Instruments. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-04 | FMP | Financial Modeling Prep (FMP) earnings |
| Management outlook — dated call excerpts | Captured record · 4 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-08-04 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Cash, investments and debt | Total debt: $5.25B; Liquidity basis: cash and short-term investments; Total liabilities: $9.56B; Cash and short-term investments: $539.00M; Cash and investments: $539.00M; Long-term investments: $0; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-07-04 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $539.00M; Cash and short-term investments: $539.00M; Long-term investments: $0; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-07-04 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-07-04 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-07-04; Cash basis: cash and short-term investments; Net cash: -$4.71B; Total debt: $5.25B; Cash and investments: $539.00M Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-07-04 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 1.29; Current ratio: 1.86; Debt to equity: 0.35; Net margin: 3.6%; Gross margin: 50.8%; Operating margin: 8%; Return on assets: 0.7%; Return on equity: 1.9% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Distress and quality screens | Altman Z-score: 2.83; Piotroski F-score: 5 Altman Z below 1.8 is the conventional distress zone. The screen is built for manufacturers and industrials; for banks, insurers and property companies it is not a meaningful reading. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-11-03; EPS estimate: $4.01 per share; Revenue estimate: $1.75B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Most recent periodic reports | Annual: Document: https://www.sec.gov/Archives/edgar/data/1000697/000119312526062604/d778470d10k.htm, Filed: 2026-02-23, Period end: 2025-12-31; Quarterly: Document: https://www.sec.gov/Archives/edgar/data/1000697/000119312526344691/d170082d10q.htm, Filed: 2026-08-11, Period end: 2026-07-04 | 2026-08-11 | OFFICIAL | SEC EDGAR filer submissions |
Data provided for informational purposes only.
ETFs that hold WAT
Funds in our ETF coverage that list WAT among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| QSY ETF | 1.62% |