Waters financials
$443.26+0.07%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.17B | $2.96B | $2.96B | $2.97B | $2.79B | $2.37B | $2.41B | $2.42B | $2.31B | $2.17B |
| Gross profit | $1.88B | $1.76B | $1.76B | $1.72B | $1.63B | $1.36B | $1.40B | $1.43B | $1.36B | $1.28B |
| Gross margin | 59.3% | 59.4% | 59.6% | 58.0% | 58.5% | 57.4% | 58.0% | 59.0% | 59.0% | 58.9% |
| Operating income | $802.6M | $826.4M | $817.7M | $873.4M | $821.7M | $645.5M | $708.5M | $739.8M | $662.2M | $625.0M |
| Net income | $642.6M | $637.8M | $642.2M | $707.8M | $692.8M | $521.6M | $592.2M | $593.8M | $20.3M | $521.5M |
| Net margin | 20.3% | 21.6% | 21.7% | 23.8% | 24.9% | 22.1% | 24.6% | 24.5% | 0.9% | 24.1% |
| Diluted EPS | $10.76 | $10.71 | $10.84 | $11.73 | $11.17 | $8.36 | $8.69 | $7.65 | $0.25 | $6.41 |
| EBITDA | $1.01B | $1.03B | $983.6M | $1.01B | $965.7M | $789.6M | $823.4M | $855.5M | $786.1M | $734.9M |
| Operating cash flow | $652.6M | $762.1M | $602.8M | $611.7M | $747.3M | $790.5M | $643.1M | $604.4M | $697.6M | $642.9M |
| Free cash flow | $539.8M | $619.6M | $442.2M | $611.7M | $747.3M | — | — | — | — | — |
| Diluted shares | 59.7M | 59.6M | 59.3M | 60.3M | 62.0M | 62.4M | 68.2M | 77.6M | 80.6M | 81.4M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $588.0M | $325.4M | $395.1M | $480.5M | $501.2M | $436.7M |
| Short-term investments | $0.00 | $0.00 | $898.0K | $862.0K | $68.1M | $6.5M |
| Total debt | $1.41B | $1.63B | $2.36B | $1.57B | $1.51B | $1.36B |
| Total assets | $5.08B | $4.55B | $4.63B | $3.28B | $3.09B | $2.84B |
| Total liabilities | $2.52B | $2.73B | $3.48B | $2.78B | $2.73B | $2.61B |
| Shareholders' equity | $2.56B | $1.83B | $1.15B | $504.5M | $367.6M | $232.1M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology