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Waters Corp. (WAT)
NYSE:WAT
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Waters (WAT) Price & Analysis

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WAT Stock Chart & Stats

$421.26
$13.61(3.67%)
At close: 4:00 PM EDT
$421.26
$13.61(3.67%)

Bulls Say, Bears Say

Bulls Say
Recurring Revenue ModelThe installed-base model combines higher-value instrument sales with repeat consumables, services, and software revenue. Once customers standardize workflows on Waters platforms, ongoing utilization and compliance needs can support durable customer retention and more predictable revenue over multiple quarters.
Product InnovationA broad pipeline of instrument, chemistry, and diagnostic launches can stimulate replacement demand and expand Waters’ addressable applications. Product innovation also supports share gains by improving analytical capabilities and gives the company additional opportunities to deepen customer adoption across workflows.
Cash GenerationStrong operating and free cash flow provide internal funding for research, product launches, integration, and debt management without relying solely on external capital. The sizable cash generation also gives Waters flexibility to absorb execution costs while continuing to invest in its installed-base franchise.
Bears Say
Margin DeteriorationThe sharp decline in profitability shows that recent revenue growth has not translated proportionally into earnings, indicating cost or mix pressure. Unless margins recover, weaker operating leverage could limit earnings growth, reduce reinvestment capacity, and make results more sensitive to future revenue volatility.
Slower Instrument ReplacementA slower replacement cadence can lengthen the interval between major capital purchases and restrain the highest-value portion of Waters’ revenue mix. It may also delay adoption of new platforms, making sustained growth more dependent on consumables, services, and incremental application demand.
China Market HeadwindsBroad weakness in China affects several Waters businesses rather than a single product line, creating a meaningful regional drag on growth. Persistent softness could reduce instrument utilization and purchasing, pressure reported results, and require longer recovery in an important market for analytical and diagnostic products.

Waters News

WAT FAQ

What was Waters Corp.’s price range in the past 12 months?
Waters Corp. lowest stock price was $282.77 and its highest was $459.63 in the past 12 months.
    What is Waters Corp.’s market cap?
    Waters Corp.’s market cap is $44.95B.
      When is Waters Corp.’s upcoming earnings report date?
      Waters Corp.’s upcoming earnings report date is Nov 03, 2026 which is in 11 days.
        How were Waters Corp.’s earnings last quarter?
        Waters Corp. released its earnings results on Aug 04, 2026. The company reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.04.
          Is Waters Corp. overvalued?
          According to Wall Street analysts Waters Corp.’s price is currently Undervalued. Get more investment ideas with TipRanks Premium
            Does Waters Corp. pay dividends?
            Waters Corp. does not currently pay dividends.
            What is Waters Corp.’s EPS estimate?
            Waters Corp.’s EPS estimate is 4.
              How many shares outstanding does Waters Corp. have?
              Waters Corp. has 98,248,110 shares outstanding.
                What happened to Waters Corp.’s price movement after its last earnings report?
                Waters Corp. reported an EPS of $3.05 in its last earnings report, beating expectations of $3.01. Following the earnings report the stock price went up 5.695%.
                  Which hedge fund is a major shareholder of Waters Corp.?
                  Currently, no hedge funds are holding shares in WAT
                  What is the TipRanks Smart Score and how is it calculated?
                  Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

                    Company Description

                    Waters Corp.

                    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.

                    Waters (WAT) Earnings & Revenues

                    WAT Company Deck

                    WAT Earnings Call

                    Q2 2026
                    0:00 / 0:00
                    Earnings Call Sentiment|Positive
                    The call conveys a strongly positive operational and financial momentum: revenue beats, multiple high-impact product launches, accelerating performance in the acquired BD businesses (mid-single-digit growth and improving quarter-to-quarter), completed cost actions with significant run-rate savings, and raised full-year guidance. Offsetting risks are notable but manageable in the near term — acquisition accounting produced a GAAP loss, FX and China/DRG-related headwinds pressured some reported results, and integration-related cash outflows and contract remediation remain work in progress. Taken together, the highlights (organic growth outperformance, raised guidance, product-driven replacement opportunities, and meaningful cost synergies) materially outweigh the lowlights, though execution in China, reagent contract remediation and FX remain watch points.View all WAT earnings summaries

                    WAT Revenue Breakdown

                    34.81%34.81%19.95%34.13%7.70%3.41%
                    34.81% Waters instrument systems
                    19.95% Chemistry consumables
                    34.13% Waters service
                    7.70% TA instrument systems
                    3.41% TA service
                    tipranks

                    WAT Stock 12 Month Forecast

                    Average Price Target

                    $463.13
                    ▲(9.94% Upside)
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14,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 10, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":307.23,"date":1772323200000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 12,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 8, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 0</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":299.89,"date":1775001600000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 11,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 8, \t&nbsp;</span>\n 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                    Ownership Overview

                    0.10%29.74%0.94%42.32%
                    0.94% Other Institutional Investors
                    42.32% Public Companies and Individual Investors
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