Waters Corp.

Waters Corp.

WAT

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Market Cap$42.59B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Waters Corp.Waters Corp.107.9-1%9.30.3

Earnings Call Q2 2026

August 4, 2026 - AI Summary

Strong Q2 performance + organic momentum ahead of guidance - Total company revenue $1.645B; organic $828M (+7% reported / +9% constant currency), about ~100 bps above the high end of currency guidance; orders outpaced sales. - Adjusted EPS $3.05 (+3%) landed at the high end of guidance. - Biosciences & Diagnostic Solutions (acquired) revenue $817M, +4% reported YoY, ahead of guidance by $15M and showing a 400 bps improvement vs Q1 (i.e., acquisition normalized and improving). - FX was a headwind: translation ~150 bps adverse in Q2; offset by growth + cost discipline.
Full-year 2026 guidance raised across the board; expects continued margin + EPS growth - Organic constant-currency revenue growth raised to 7%–9% (reported organic revenue $3.37B–$3.431B), with FX translation expected to be about ~60 bps headwind. - Acquired businesses (Biosciences + Diagnostic Solutions) raised to ~$3.045B reported revenue in 2026 (+$10M vs prior guide; FX offset ~$15M; underlying improvement ~$25M). - Total 2026 reported revenue: ~$6.415B–$6.476B. - Adjusted EBIT margin: expected 28.2% (unchanged), reflecting cost actions offsetting FX. - Adjusted EPS (fully diluted): $14.45–$14.65, implying +10% to +12% YoY (and 12%–14% constant currency).
Q3 2026 outlook: solid growth + sequential step-up; continued cost benefit - Q3 organic constant-currency revenue growth expected 8%–10%; organic reported revenue $850M–$867M. - Acquired revenue expected ~$895M (noted as typical sequential seasonality). - Total reported Q3 revenue: $1.745B–$1.762B. - Adjusted EPS: $3.95–$4.05 (+16% to +19%). - Cost actions benefit expected: ~$25M adjusted operating income in Q3 and ~$50M in Q4 (~$75M total for 2H).

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$449.33

Target Price by Analysts

2.8% upsideWaters Target Price DetailsTarget Price
$144.98

Current Fair Value

66.8% downside

Overvalued by 66.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$42.59 Billion
Enterprise Value$47.14 Billion
Dividend Yield$- (-)
Earnings per Share$10.8
Beta1.15
Outstanding Shares98,204,000

Return

Return on Equity1.09%ROE
Return on Assets0.67%
Return on Invested Capital1.35%

Valuation & Multiples

P/E Ratio107.9P/E Ratio
PEG-56.07PEG
Price to Sales9.3Price to Sales
Price to Book Ratio2.84Price to Book Ratio
Enterprise Value to Revenue10.15
Enterprise Value to EBIT140.59
Enterprise Value to Net Income283
Total Debt to Enterprise0.11
Debt to Equity0.33Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
August 4, 2026
EPS Estimate
$3.01
Average shareholder expectation
Revenue Estimate
$1.62 B
Average shareholder expectation

Next Earnings Call

Expected Date
November 3, 2026
EPS Estimate
$4.00
Average shareholder expectation
Revenue Estimate
$1.75 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 83.51%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %0.23%▼ 120.04%
Total Invested$101.42M▼ 99.73%
Investors Holding51▼ 1151.00%

ESG Score

No data

About Waters Corp.

7,600 employees
CEO: Udit Batra

Waters Corporation is a global specialty measurement firm delivering advanced analytical solutions across Asia, the Americas, and Europe. Its operations are structured into two key segments: Waters and TA. Through its Waters segment, the...