# Waters share price today (Waters Corporation, WAT)

> Waters Corporation's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. WAT · Healthcare · Diagnostics & Research · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/wat

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## Key numbers

- Business trend: Getting worse, from the last 12 quarters
- Price: $459.90 (+31.6% in a year)
- P/E: 397.6×, over 4.6 years
- Revenue (Jul 2026): $1.6 B (+113.4% on a year ago)
- Profit (Jul 2026): −$136 M (−192.5% on a year ago)
- Operating margin: 9.4% (−15.4 points on a year ago)
- ROE: 25%, FY25
- ROIC: 1.8%, against a 9.8% cost of capital: −8.0 points

The main question: the share price moved +31.6% in a year while yearly earnings per share moved +0.5%. The difference came from the market paying a higher multiple. ## What is the Waters share price today? Waters Corporation's share price was $459.90 at the close on 3 November 2026. It has been rising for 22 weeks. That is 24.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between $287 and $463, and at that close it sat 98% of the way up from that low. Over the past 13 weeks it has done better than the S&P 500, and it has stayed ahead for 24 weeks in a row. Over the last 10 years the share price moved +214% while the S&P 500 moved +255%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Waters pay? Waters Corporation pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Waters on? Waters is on one of our US lists: S&P 500 companies. [S&P 500 companies](https://www.sectoralpha.in/sp-500-stocks)

## Is Waters profitable? Waters Corporation posted a net loss of $136 M in the Jul 2026 quarter. Full-year FY25 profit was $643 M. Over 4 years profit has grown −1.9% a year on average. That loss is 8.3% of the quarter's revenue. The same quarter a year earlier earned $147 M. 2 of the last 12 reported quarters were loss-making. Jul 2026 profit was −$136 M, −192.5% on a year earlier. For the full year, FY25 profit was $643 M (+0.8% on the year before). Why profit moved: revenue changed +113.4% on a year earlier and the margin moved −15.4 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −90.6% and revenue +54.9%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Waters make, and is it growing? Waters Corporation reported $1.6 B of revenue in the Jul 2026 quarter, +113.4% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 4 years it has grown 3.2% a year on average. The last full year, FY25, came in at $3.2 B. The last four reported quarters add to $4.6 B. FY25 revenue was $3.2 B, +7.0% on the year before. Recent pace: the last four quarters grew +54.9% on average, against 3.2% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +52.5%, against +27.1% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −74.9%, against −47.2% a year (rolling over). ## How much of every $100 of sales does Waters keep? Waters Corporation's operating margin was 9.4% in the Jul 2026 quarter, 15.4 percentage points lower than the same quarter a year ago. Across 5 years it has been between 28.0% and 29.7%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −15.4 percentage points on the year while gross margin changed −4.4 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Waters' profit turning into cash? Over the last 3 years, 105% of Waters Corporation's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $653 M of operating cash against $643 M of profit. After $113 M of spending on assets, $540 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Waters' cash go? Waters Corporation does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $416 M on assets over the last 3 years. Averaged over those years that is 4.4% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $416 M over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Waters' P/E ratio, and how does it compare with its own history? Waters Corporation's P/E is 397.6×, with too little history to compare. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +0.5% while the price moved +31.6%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved +20.9% a year; about −28.7% a year came from earnings growth and about +49.6 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple. ## Is the Waters business getting better or worse? Waters Corporation's business is getting worse. Profit and EPS growth are shrinking: profit growth is −74.9% in the latest quarter, against +10.9% at its best in 12 quarters, with ROCE falling at 5.6%. This is based on 12 quarters of 4 measures. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. ## How much does Waters earn on its capital? Waters Corporation earned a ROE of 25% in FY25. Its return on capital used (ROIC) is 8.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 20.3% net margin and 0.62× asset turnover (sales divided by assets). Why the return is what it is (FY25): a 20.3% net margin × 0.62× asset turnover × 1.98× leverage (assets divided by equity) ≈ 24.9% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 1.8% − 9.8% = −8.0 percentage points. The 9.8% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 1.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 22.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Waters have too much debt? Waters Corporation has total debt of $5.5 B against shareholder equity of $15.2 B as of Jul 2026, so its debt is 0.36× its equity. Year by year, that ratio went from 4.37 in FY21 to 0.60 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Waters shareholding pattern? 3.3% of Waters Corporation's tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 3.7 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Waters from balance-sheet trouble? For Waters Corporation, the Z-score is 2.56. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 2.56 is in the grey area, neither clearly safe nor clearly in trouble. ## How does Waters rank in its industry? 39.2 out of 100, rank 26 of 30 in Diagnostics & Research, with 58% of the evidence available. Waters Corporation scores 39.2 out of 100 against the 30 companies it is compared with in Diagnostics & Research, ranking 26. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 11.7 + 10.3 + 9.4 + 7.8 = 39.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Waters compared with? Waters ranks 26 of 30 Diagnostics & Research companies on the 4-Factor Sector Score, with 39.2 out of 100. 1. [CareDx, Inc.](https://www.sectoralpha.in/us/stocks/cdna) CDNA · leader · Evidence leans up · 64% evidence 62.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.1/35 · Revenue 33.9% · Profit 93.1% · Operating margin change 12.6 points · 62% evidence Capital efficiency 7.2/25 · ROCE -0.4% · Operating margin 0.2% · 76% evidence Valuation 10.6/20 · P/E 13.3× · PEG n/a · 15% evidence Relative strength 19.9/20 · Lead over its industry 110.8% · Lead over S&P 500 166.5% · 1 year 466.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 25.1 + 7.2 + 10.6 + 19.9 = 62.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Agilent Technologies, Inc.](https://www.sectoralpha.in/us/stocks/a) A · leader · Evidence leans up · 85% evidence 62.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 8.6% · Profit 18% · Operating margin change 2.9 points · 95% evidence Capital efficiency 18.4/25 · ROCE 15.4% · Operating margin 25.6% · 76% evidence Valuation 11.1/20 · P/E 27.1× · PEG 1.41 · 65% evidence Relative strength 11.7/20 · Lead over its industry -8.9% · Lead over S&P 500 21.3% · 1 year 19.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.8 + 18.4 + 11.1 + 11.7 = 62 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Medpace Holdings, Inc.](https://www.sectoralpha.in/us/stocks/medp) MEDP · leader · Evidence leans up · 85% evidence 61.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 20.3% · Profit 19.4% · Operating margin change 1.6 points · 95% evidence Capital efficiency 21.3/25 · ROCE 75.3% · Operating margin 23.1% · 76% evidence Valuation 12.2/20 · P/E 33.6× · PEG 1.29 · 65% evidence Relative strength 8.7/20 · Lead over its industry -11.9% · Lead over S&P 500 17.3% · 1 year 12.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 19.1 + 21.3 + 12.2 + 8.7 = 61.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Revvity, Inc.](https://www.sectoralpha.in/us/stocks/rvty) RVTY · leader · Too little evidence to rank firmly · 58% evidence 60.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.4/35 · Revenue n/a · Profit n/a · Operating margin change 3.3 points · 45% evidence Capital efficiency 12.8/25 · ROCE 4.3% · Operating margin 17.1% · 76% evidence Valuation 8.8/20 · P/E 53.4× · PEG n/a · 15% evidence Relative strength 18.2/20 · Lead over its industry 7% · Lead over S&P 500 41.6% · 1 year 80.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.4 + 12.8 + 8.8 + 18.2 = 60.2 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [IDEXX Laboratories, Inc.](https://www.sectoralpha.in/us/stocks/idxx) IDXX · turning · Evidence leans up · 81% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 12.8% · Profit 15.5% · Operating margin change 1.4 points · 83% evidence Capital efficiency 21.3/25 · ROCE 68.1% · Operating margin 35% · 76% evidence Valuation 7.1/20 · P/E 36.4× · PEG 1.97 · 65% evidence Relative strength 8.0/20 · Lead over its industry -21.5% · Lead over S&P 500 6.4% · 1 year -5.1% · 100% evidence · 1 of 12 weeks ahead Exact sum: 23.1 + 21.3 + 7.1 + 8 = 59.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Labcorp Holdings Inc.](https://www.sectoralpha.in/us/stocks/lh) LH · leader · Evidence leans up · 81% evidence 58.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.3/35 · Revenue 6.4% · Profit 31.2% · Operating margin change 0.9 points · 83% evidence Capital efficiency 13.4/25 · ROCE 9.9% · Operating margin 12.2% · 76% evidence Valuation 15.2/20 · P/E 22.9× · PEG 0.69 · 65% evidence Relative strength 8.9/20 · Lead over its industry -11.1% · Lead over S&P 500 19.1% · 1 year 40% · 100% evidence · 11 of 12 weeks ahead Exact sum: 21.3 + 13.4 + 15.2 + 8.9 = 58.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [GRAIL, Inc.](https://www.sectoralpha.in/us/stocks/gral) GRAL · leader · Evidence leans up · 61% evidence 56.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 23% · Profit n/a · Operating margin change 36.1 points · 62% evidence Capital efficiency 3.9/25 · ROCE -19.3% · Operating margin -332% · 76% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 19.4/20 · Lead over its industry 25.5% · Lead over S&P 500 63.9% · 1 year 75.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.9 + 3.9 + 10 + 19.4 = 56.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Mettler-Toledo International Inc.](https://www.sectoralpha.in/us/stocks/mtd) MTD · leader · Evidence leans up · 81% evidence 55.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue 6.9% · Profit 9% · Operating margin change 3.8 points · 83% evidence Capital efficiency 21.0/25 · ROCE 47.8% · Operating margin 31.2% · 76% evidence Valuation 6.8/20 · P/E 28.5× · PEG 2.27 · 65% evidence Relative strength 11.1/20 · Lead over its industry -11% · Lead over S&P 500 19.2% · 1 year 18% · 100% evidence · 12 of 12 weeks ahead Exact sum: 17 + 21 + 6.8 + 11.1 = 55.9 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 9. [Natera, Inc.](https://www.sectoralpha.in/us/stocks/ntra) NTRA · leader · Evidence leans up · 64% evidence 54.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.1/35 · Revenue 37.8% · Profit n/a · Operating margin change 9.9 points · 62% evidence Capital efficiency 5.3/25 · ROCE -13.5% · Operating margin -10.3% · 76% evidence Valuation 11.4/20 · P/E -152.2× · PEG n/a · 15% evidence Relative strength 13.7/20 · Lead over its industry 9% · Lead over S&P 500 42.8% · 1 year 94.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.1 + 5.3 + 11.4 + 13.7 = 54.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Charles River Laboratories International, Inc.](https://www.sectoralpha.in/us/stocks/crl) CRL · leader · Evidence leans up · 64% evidence 53.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.6/35 · Revenue -0.7% · Profit n/a · Operating margin change -1.6 points · 62% evidence Capital efficiency 12.0/25 · ROCE 7.9% · Operating margin 15.1% · 76% evidence Valuation 11.3/20 · P/E -87.6× · PEG n/a · 15% evidence Relative strength 18.1/20 · Lead over its industry 17.8% · Lead over S&P 500 54.6% · 1 year 109.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 11.6 + 12 + 11.3 + 18.1 = 53 · What this means: Relative strength against the index is 54.6%, and revenue and profit growth are weak. 11. [Quest Diagnostics Incorporated](https://www.sectoralpha.in/us/stocks/dgx) DGX · leader · Evidence leans up · 85% evidence 52.7 out of 100 Growth Capital Valuation Relative
12. [Adaptive Biotechnologies Corporation](https://www.sectoralpha.in/us/stocks/adpt) ADPT · leader · Evidence leans up · 64% evidence 52.1 out of 100 Growth Capital Valuation Relative
13. [Sotera Health Company](https://www.sectoralpha.in/us/stocks/shc) SHC · quiet · Evidence leans up · 71% evidence 51.3 out of 100 Growth Capital Valuation Relative
14. [IQVIA Holdings Inc.](https://www.sectoralpha.in/us/stocks/iqv) IQV · leader · Evidence leans up · 81% evidence 50.2 out of 100 Growth Capital Valuation Relative
15. [BillionToOne, Inc.](https://www.sectoralpha.in/us/stocks/blln) BLLN · turning · Too little evidence to rank firmly · 58% evidence 49.0 out of 100 Growth Capital Valuation Relative
16. [Danaher Corporation](https://www.sectoralpha.in/us/stocks/dhr) DHR · breaking out · Evidence leans down · 85% evidence 48.6 out of 100 Growth Capital Valuation Relative
17. [Illumina, Inc.](https://www.sectoralpha.in/us/stocks/ilmn) ILMN · leader · Evidence leans down · 71% evidence 48.4 out of 100 Growth Capital Valuation Relative
18. [OPKO Health, Inc.](https://www.sectoralpha.in/us/stocks/opk) OPK · turning · Evidence leans down · 64% evidence 48.2 out of 100 Growth Capital Valuation Relative
19. [Guardant Health, Inc.](https://www.sectoralpha.in/us/stocks/gh) GH · turning · Evidence leans down · 61% evidence 48.2 out of 100 Growth Capital Valuation Relative
20. [Veracyte, Inc.](https://www.sectoralpha.in/us/stocks/vcyt) VCYT · turning · Evidence leans down · 64% evidence 47.5 out of 100 Growth Capital Valuation Relative
21. [NeoGenomics, Inc.](https://www.sectoralpha.in/us/stocks/neo) NEO · losing its lead · Evidence leans down · 64% evidence 46.6 out of 100 Growth Capital Valuation Relative
22. [Twist Bioscience Corporation](https://www.sectoralpha.in/us/stocks/twst) TWST · leader · Evidence leans down · 64% evidence 46.6 out of 100 Growth Capital Valuation Relative
23. [Qiagen N.V.](https://www.sectoralpha.in/us/stocks/qgen) QGEN · breaking out · Evidence leans down · 81% evidence 45.0 out of 100 Growth Capital Valuation Relative
24. [Thermo Fisher Scientific Inc.](https://www.sectoralpha.in/us/stocks/tmo) TMO · leader · Evidence leans down · 85% evidence 44.8 out of 100 Growth Capital Valuation Relative
25. [RadNet, Inc.](https://www.sectoralpha.in/us/stocks/rdnt) RDNT · breaking out · Evidence leans down · 64% evidence 41.9 out of 100 Growth Capital Valuation Relative
26. Waters Corporation this page WAT · leader · Too little evidence to rank firmly · 58% evidence 39.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.7/35 · Revenue n/a · Profit n/a · Operating margin change -18 points · 45% evidence Capital efficiency 10.3/25 · ROCE 3.2% · Operating margin 9.4% · 76% evidence Valuation 9.4/20 · P/E 35.2× · PEG n/a · 15% evidence Relative strength 7.8/20 · Lead over its industry -12.1% · Lead over S&P 500 17.3% · 1 year 23.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 11.7 + 10.3 + 9.4 + 7.8 = 39.2 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 27. [ICON Public Limited Company](https://www.sectoralpha.in/us/stocks/iclr) ICLR · turning · Evidence leans down · 81% evidence 38.4 out of 100 Growth Capital Valuation Relative
28. [Castle Biosciences, Inc.](https://www.sectoralpha.in/us/stocks/cstl) CSTL · breaking out · Evidence leans down · 64% evidence 35.7 out of 100 Growth Capital Valuation Relative
29. [Personalis, Inc.](https://www.sectoralpha.in/us/stocks/psnl) PSNL · turning · Most evidence points down · 61% evidence 33.1 out of 100 Growth Capital Valuation Relative
30. [GeneDx Holdings Corp.](https://www.sectoralpha.in/us/stocks/wgs) WGS · quiet · Most evidence points down · 71% evidence 24.8 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Diagnostics & Research](https://www.sectoralpha.in/us/sectors/diagnostics-research), all 30 compared on one page. ## Which companies are close to Waters in size? Waters is the 6th largest of 34 Diagnostics & Research companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Natera, Inc., IDEXX Laboratories, Inc. and Agilent Technologies, Inc. Just below it: IQVIA Holdings Inc., Illumina, Inc. and Mettler-Toledo International Inc. ### Diagnostics & Research companies close in size

1. [Natera, Inc.](https://www.sectoralpha.in/us/stocks/ntra) $56 billion
2. [IDEXX Laboratories, Inc.](https://www.sectoralpha.in/us/stocks/idxx) $52.9 billion
3. [Agilent Technologies, Inc.](https://www.sectoralpha.in/us/stocks/a) $49.5 billion
4. Waters Corporation $45.2 billion
5. [IQVIA Holdings Inc.](https://www.sectoralpha.in/us/stocks/iqv) $43.3 billion
6. [Illumina, Inc.](https://www.sectoralpha.in/us/stocks/ilmn) $36 billion
7. [Mettler-Toledo International Inc.](https://www.sectoralpha.in/us/stocks/mtd) $34 billion

[All 34 Diagnostics & Research companies, largest first](https://www.sectoralpha.in/us/sectors/diagnostics-research#all-companies)

### Companies close in size in other industries

1. [Franco-Nevada Corporation](https://www.sectoralpha.in/us/stocks/fnv) $44.3 billion · Gold
2. [Medline Inc.](https://www.sectoralpha.in/us/stocks/mdln) $44.2 billion · Medical Instruments & Supplies
3. Waters Corporation $44.2 billion
4. [Ares Management Corporation](https://www.sectoralpha.in/us/stocks/ares) $43.9 billion · Asset Management
5. [Consolidated Edison, Inc.](https://www.sectoralpha.in/us/stocks/ed) $43.8 billion · Utilities - Regulated Electric

## What else do people ask about Waters? ### What were Waters's latest quarterly results? Waters Corporation reported revenue of $1.6 B and a net loss of $136 M for the Jul 2026 quarter. Revenue rose 113.4% and profit fell 192.5% compared with a year earlier. Earnings per share were −$1.39. The operating margin was 9.4%, 15.4 percentage points lower than a year earlier (as of 3 November 2026). ### What is Waters's market cap? Waters Corporation's market capitalisation is $45.2 B at a stock price of $459.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Waters performing? Waters Corporation's share price has been rising for 22 weeks. In its latest quarter, revenue rose 113.4% and profit fell 192.5% compared with a year earlier. Over the past 13 weeks it has done better than the S&P 500, for 24 weeks running (as of 3 November 2026). ### Will Waters's stock price go up? This page does not forecast Waters Corporation's stock price. What it shows instead: the stock price is $459.90, and it has been rising for 22 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Does Waters have too much debt? Waters Corporation has a moderate amount of debt: its debt is 0.34× its equity. A year-by-year history of its borrowings is not in our data, so this uses the latest reading. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is Waters in its business cycle? Waters Corporation's FY25 operating margin was 28.0%, against a 5-year range of 28.0% to 29.7%: the low end of its own range, which is often where recoveries start. The latest quarter was 9.4%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Waters story? The main question: the share price moved +31.6% in a year while yearly earnings per share moved +0.5%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Waters a stock worth studying right now? What the numbers show: Waters Corporation's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ## Lists

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