Waters Corp
Research Waters Corp (WAT) on Bullrun: valuation model: 26.9% overvalued, market cap USD 42.61B, P/E 108.3. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerWAT
- ExchangeNYSE
- CountryUnited States
- SectorHealthcare
- IndustryDiagnostics & Research
- CurrencyUSD
- Valuation signal26.9% overvalued
- Market capUSD 42.61B
- P/E108.3
- Financial periodQ2 2026
- RevenueUSD 1.27B
- Net income-USD 72.00M
- Free cash flow-USD 42.00M
- Gross margin57.9%
Valuation Snapshot
Bullrun's latest valuation model marks Waters Corp as 26.9% overvalued; latest market cap is USD 42.61B; P/E is 108.3.
Peer valuation comparison
Latest P/E is 108.32x versus a Healthcare sector median of 24.61x (340.2% above).
Latest P/E is 108.32x versus a United States median of 23.85x (354.1% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 3.17B | USD 642.63M | USD 539.81M | 59.3% | 10.76 | USD 588.00M | USD 947.00M | USD 2.56B |
| FY2024 | USD 2.96B | USD 637.83M | USD 619.64M | 59.4% | 10.71 | USD 325.36M | USD 1.63B | USD 1.83B |
| FY2023 | USD 2.96B | USD 642.23M | USD 442.18M | 59.6% | 10.84 | USD 395.08M | USD 2.31B | USD 1.15B |
| FY2022 | USD 2.97B | USD 707.76M | USD 428.21M | 58.0% | 11.73 | USD 480.53M | USD 1.52B | USD 504.49M |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 42.61B | 108.3 | n/a | n/a |
| 2025 | 2025-12-31 | USD 22.62B | 35.3 | n/a | n/a |
| 2024 | 2024-12-31 | USD 22.03B | 34.6 | n/a | n/a |
| 2023 | 2023-12-29 | USD 19.47B | 29.9 | n/a | n/a |
| 2022 | 2022-12-30 | USD 20.35B | 29.9 | n/a | n/a |
| 2021 | 2021-12-31 | USD 22.63B | 33.3 | n/a | n/a |
About Waters Corp
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.
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Frequently asked questions
Is Waters Corp overvalued or undervalued?
Bullrun's valuation model currently marks Waters Corp as 26.9% overvalued.
What is Waters Corp's market cap?
Waters Corp's market capitalization is USD 42.61B.
What is Waters Corp's P/E ratio?
Waters Corp's price-to-earnings (P/E) ratio is 108.3.
What does Waters Corp do?
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.