Waters Corporation
WAT Large CapHealthcare · Diagnostics & Research
Updated: Jun 14, 2026, 22:19 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
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,
Waters Corporation Stock at a Glance
Waters Corporation (WAT) is currently trading at $355.53 with a market capitalization of $34.9B. The trailing P/E ratio stands at 45.23x, with a forward P/E of 21.6x. The 52-week range spans from $275.05 to $414.15; the current price is 14.2% below the yearly high. Year-over-year revenue growth stands at +91.4%. The net profit margin stands at 11.93%.
💰 Dividend
Waters Corporation currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
22 analysts rate Waters Corporation (WAT) on consensus: Buy. The average price target is $400.27, implying +12.58% from the current price. Analyst price targets range from $345.00 to $460.00.
Waters Corporation: The Investment Case in Detail
Waters Corporation (WAT) operates in the Healthcare — specifically Diagnostics & Research — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
Top-line momentum is unusually strong with revenue expanding 91.4% year-over-year, a pace that puts the company well above the market average and signals genuine demand traction rather than mere cyclical tailwind.
The Bear Case
Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.
Valuation in Context
The EV/EBITDA multiple of 35.28x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.
What to Watch Next
- The forward P/E of 21.6x is meaningfully below the trailing 45.23x — analysts expect earnings to step up; the next earnings release is the test.
Investment Thesis: Strengths & Weaknesses
- Strong revenue growth of 91.4% YoY
- High gross margin of 55.15% — indicates pricing power
- Analyst consensus: Buy
- Solid balance sheet with low debt (D/E 36.63)
- –Currently flagged as overvalued
- –Negative free cash flow
Technical Snapshot
The price is in a transition zone relative to the moving averages — no clear signal.
Risk Profile
The data points to market-like volatility.
Trading Data
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