How profitable is Waters Corporation (WAT)?

In FY 2025 (10-K), WAT converted $3.2B of revenue into a 59.3% gross margin, 25.4% operating margin, and $510.1M in free cash flow (16.1% FCF margin).

Stock Ratings / Health Care / WAT / financials

A (72) MTD (78) RVTY (65) AVTR (56) ⌘ Pro Terminal →

Waters Corporation (WAT) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$449.53 -2.85% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $448.30

Waters Corporation (WAT) earns a Roarable Rating of B (Buy) with 72/100 RQD Confidence. High-quality cash engine (59.3% gross margin, 17% return on capital) with steady institutional support. The company’s underlying cash engine and institutional positioning keep the composite score in the Green Buy zone.

ROARABLE B • BUY Cap $45.46B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is WAT stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Waters Corporation (NYSE: WAT) is rated B (Buy / BUY) by Roarable's 5-pillar RQD engine with a composite confidence score of 72/100 at a spot price of $449.53 (-2.85% 1D, market cap $45.46B). Pillar breakdown: Fundamental Cash Engine 15/20, Institutional 13F & Options Flow 18/20, SEC Balance-Sheet Forensics 16/20, FRED Macro Regime Fit 14/20, and Executive Insider Alignment 9/20. Across 1015 tracked Health Care issuers, WAT ranks #55 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does WAT compare to A and MTD in the Health Care sector?

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Within the Health Care sector (Biotechnology: Laboratory Analytical Instruments), WAT carries a Roarable B (72/100 RQD), trailing P/E of 73.4x, gross margin of 59.3%, and ROIC of 16.8%. By comparison, A (Agilent Technologies Inc.) holds a B grade (72/100 RQD, P/E 39.2x, ROIC 15.3%, cap $49.30B) and MTD (Mettler-Toledo International Inc.) posts a B+ grade (78/100 RQD, P/E 39.6x, ROIC 30.4%, cap $33.56B). Among the 5-stock peer group, A leads on earnings multiple (39.2x) while MTD leads on capital efficiency (30.4% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for WAT?

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Per WAT's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001000697), Waters Corporation generated $3.17B in revenue (+7.0% YoY), $642.6M in net income, and $510.1M in free cash flow against $5.08B in total assets and $947.0M in total debt. Key quantitative strengths: Strong cash generator (59.3% gross margin)—profits are backed by real money, not accounting tricks. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $448.32 (-0.27%)🧬 Disciplined Float (+0.80% YoY Shares)⚙️ Cash Engine: 15/20 (B) • 16.1% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 72/100 (B) historically ranked in the Top 13% of excess returns over the next 90 days (+7.0% avg 90D alpha vs SPY • 68.7% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERBUY • B

3-of-3 Quant Analysts Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw B- · Rk B

Each axis scored 0–20

12M PRICE TARGET CONE+6.3% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for WAT)Realized 20D OHLCV Swing Band: ±6.5%

Deterministic 5-Pillar Attribution (72/100 Composite)

🔍 WHY WAT SCORES 72/100 (B) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Whale & Options Positioning+18/20 pts (25% of score)

20D Institutional Volume Accumulation (±6.5% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+16/20 pts (22% of score)

Altman Z-Score 15.49 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 9/9

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution9/20 pts (-11 pt drag)

Disciplined Float (+0.80% YoY Shares) & executive Form 4 sales trim 11 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade C+$436.61+4.8% Next Q

Q2 (-2Q)

Grade B-$457.47+4.2% Next Q

Q3 (-1Q)

Grade B-$476.88-5.7% Next Q

Current

Grade B$449.53+7% Hist 90D α

Trajectory: C+ (64) → B (72)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the WAT Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 72/100 (B) score, WAT faces multiple-compression risk if 73.4x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Company executives have done more routine share selling than personal cash buying lately.

⚠️ Forensic Kill-Switch #2

Priced at 73x earnings—high expectations leave less room for a lukewarm quarter.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($433.92) or 200D SMA ($370.80) invalidates the momentum regime and cuts Target Base ($477.85) toward Bear Floor ($368.61).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $WAT• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “WAT Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 72%NO 28%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How WAT Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$510.1M (16.1% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $2.96B

FY24

Rev $2.96B

FY25

Rev $3.17B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$3.17B	59.3%	25.4%	$642.6M	$510.1M	21.7%
FY 2024	$2.96B	59.4%	27.9%	$637.8M	$629.0M	20.9%
FY 2023	$2.96B	59.3%	27.7%	$642.2M	$469.8M	4.1%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring WAT)

✓Walkthrough of WAT's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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WAT // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +48.91%🛡️ HOLDING TREND SUPPORT

2026-11-03O $480.1H $480.1L $449.5C $449.5VOL 1.34M

RES: $488.8SUP: $444.7SMA50: $433.9SMA200: $370.8

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

WAT Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 WAT Butterfly Map → + Track WAT →

Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle

47.3%/yr Implied 5Y Growth

vs. +7.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on WAT today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for WAT. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for WAT today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (WAT)

Health Care Rank #55 of 1015 ⚔️ A vs WAT Full Matrix →

1. Head-to-Head Health Care Peer Comparison (WAT vs. A, MTD, RVTY, AVTR)

Industry: Biotechnology: Laboratory Analytical Instruments (21 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Waters Corporation (WAT) ranks #55 by composite RQD confidence (72/100, grade B) and #40 by equity capitalization ($45.46B). Within this direct 5-issuer industry benchmark cohort, A leads on earnings valuation at 39.2x trailing P/E, while MTD leads on capital efficiency and profitability with 30.4% ROIC and 59.4% gross margin. MTD currently holds the highest overall quantitative score in the immediate peer group at 78/100 (B+) compared with WAT at 72/100 (B).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
WAT ACTIVE Waters Corporation	B	72/100	73.4x	59.3%	16.8%	-2.85%	$45.46B	Benchmark Subject
A Agilent Technologies Inc.	B	72/100	39.2x	52.4%	15.3%	-1.65%	$49.30B	/a-vs-wat →
MTD Mettler-Toledo International Inc.	B+	78/100	39.6x	59.4%	30.4%	+0.20%	$33.56B	/mtd-vs-wat →
RVTY Revvity Inc.	C	65/100	76.7x	—	3.1%	-3.44%	$17.52B	/rvty-vs-wat →
AVTR Avantor Inc.	D+	56/100	—	32.7%	-2.1%	-2.74%	$10.88B	/avtr-vs-wat →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001000697 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Waters Corporation (WAT) reported GAAP revenue of $3.17B (+7.0% vs. FY2024 revenue of $2.96B , and +7.1% cumulative change since FY2023) , GAAP net income of $642.6M, operating cash flow of $652.6M, and free cash flow of $510.1M (-18.9% YoY). On the balance sheet, WAT closed FY2025 with $5.08B in total assets against $947.0M in total debt (Altman Z-Score: 15.49, Piotroski F-Score: 9/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$3.17B	$642.6M	$652.6M	$510.1M	$5.08B	$947.0M
FY2024 (FY)	2024-12-31	$2.96B	$637.8M	$762.1M	$629.0M	$4.55B	$1.63B
FY2023 (FY)	2023-12-31	$2.96B	$642.2M	$602.8M	$469.8M	$25.94B	$6.07B

3. WAT Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is WAT stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does WAT compare to A and MTD in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for WAT?

Where is WAT trading relative to its 50-day, 200-day, and 52-week technical levels?

WAT last traded at $449.53 (-2.85% on volume of 1,943,638 shares), positioning the stock +3.60% above its 50-day simple moving average ($433.92) and +21.23% above its 200-day simple moving average ($370.80). Across its 52-week range of $282.77 to $482.28, WAT sits at the 83.6% percentile with a 14-day RSI of 55.8 (BULLISH MOMENTUM) and an implied next-earnings move of ±6.5% ($420.31 to $478.75).

Direct Sub-Reports: WAT RQD Cockpit WAT 12M Forecast WAT Earnings & Move WAT Dividends & DRIP WAT Insiders & 13F WAT Whale Options WAT Profit Sankey WAT News & Why

ROARABLE RATING BRIEF • RQD 72/100 (B) ✓ SEC XBRL & RQD VERIFIED

WAT — Waters Corporation: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit

Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Waters Corporation (WAT) earns a live Roarable RQD composite score of 72/100, corresponding to a B letter grade (Roarable Buy) at a spot price of $449.53 (-2.85% 1D, market capitalization $45.46B).

Fundamental Cash Engine (15/20): Anchored by return on invested capital (ROIC) of 16.8%, gross margin of 59.3%, operating margin of 25.4%, and free cash flow yield of 1.08%.
Whale 13F & Options Flow (18/20) + Insider Conviction (9/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
Macro Regime Fit (14/20) + Forensic Balance Sheet (16/20): Incorporates a 1.02x equity beta, Altman Z-Score of 15.49, Piotroski F-Score of 9/9, and Debt/Equity of 0.37x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Waters Corporation is a NYSE-listed issuer classified under the Health Care sector and the Biotechnology: Laboratory Analytical Instruments industry.. The company reports revenue of $3.17B for FY 2025 and gross margin of 59.3%.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Waters Corporation (WAT) reported $3.17B in annual revenue (up from $2.96B in FY2024, +7.0% YoY) and $642.6M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($2.96B revenue, $642.2M net income) through FY2025, WAT scaled operating cash flow to $652.6M and free cash flow to $510.1M, backed by $5.08B in total assets against $947.0M in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case (B • RQD 72/100): Strong cash generator (59.3% gross margin)—profits are backed by real money, not accounting tricks. Big institutional funds and options desks are actively positioning on the bullish side. With Fundamental Cash Engine at 15/20 and Institutional Whale Flow at 18/20, sustained execution supports upside toward the upper end of the $282.77 – $482.28 52-week range.
🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh 73.4x trailing P/E and 51.5x EV/EBITDA against 25.4% operating margins and a 1.02x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in Biotechnology: Laboratory Analytical Instruments (Health Care), WAT carries a macro regime beta of 1.02 and gross margin of 59.3%.

Key Question #1: Can WAT sustain or expand its 25.4% operating margin and 16.8% ROIC against Biotechnology: Laboratory Analytical Instruments peers over the next 4 quarters?
Key Question #2: Following FY2025 revenue of $3.17B and free cash flow of $510.1M, how will capital allocation balance growth reinvestment against $947.0M in total debt?
Key Question #3: How sensitive is WAT's 68.3x forward P/E multiple to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.02x)?

WAT Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Waters Corporation (WAT) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to WAT Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo! Finance Canada • 1d ago

Waters Corporation (WAT) Stock Price, News, Quote & History

Yahoo! Finance Canada report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance UK • 1d ago

Waters Corporation (WAT) stock price, news, quote and history

Yahoo Finance UK report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE TradingView • 1d ago

Here's Why You Should Retain WAT Stock in Your Portfolio for Now

TradingView report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🟢 CATALYST Simply Wall St • 1d ago

Waters (WAT) Stock Looks Fully Valued Despite Fresh Growth News

Simply Wall St report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE Yahoo Finance • 1d ago

What to expect from Waters Corporation’s (WAT) Q3 earnings

Yahoo Finance report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE Simply Wall St • 1d ago

Waters (NYSE:WAT) Stock Forecast & Analyst Predictions

Simply Wall St report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST ad-hoc-news.de • 1d ago

Waters stock: TD Cowen raises target to USD 515.00. November 3 results matter for Waters stock

ad-hoc-news.de report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🟡 MARKET WIRE Yahoo Finance • 2d ago

Earnings Preview: What to Expect From Waters Corporation’s Report

Yahoo Finance report covering Waters Corporation (WAT) market action, institutional positioning, and fundamental catalysts.

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🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

WAT Bull vs. Bear Conversation Board — What's Your Call at $449.53?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON WAT 🐻 33% BEARISH CONVICTION

MI MidwestValue RQD DEBATE OPENER • Fundamental Long-Only 🐂 BULLISH 🎯 Target: $596.91 (+29.0%)

📌 Pinned Debate

Institutional accumulation and a 9-of-9 Piotroski F-Score with a 15.49 Altman Z-Score signal strong positioning and financial health.

The street is overcomplicating Waters Corporation (WAT). Institutional accumulation and a 9-of-9 Piotroski F-Score with a 15.49 Altman Z-Score signal strong positioning and financial health.. With an RQD score of 72/100 (B) and Forensic Balance Sheet at 16/20, any positive earnings surprise or guidance raise forces underweight funds to chase above $499.74.

CapAlloc_Nerd 🐂 BULL

@ShortSeller_Dan Fair point on 73.4x trailing P/E, but you're ignoring the forward operating leverage in Biotechnology: Laboratory Analytical Instruments. If gross margin (59.3%) holds, EPS grows into the multiple faster than bears think.

SH ShortSeller_Dan RQD DEBATE OPENER • Forensic Short Bias 🐻 BEARISH 🎯 Target: $356.29 (-23.0%)

Spot @ $462.72

A P/E (TTM) of 73.4 and EV/EBITDA of 51.5 against a 1.08% FCF yield leave little margin for error if expectations falter.

A P/E (TTM) of 73.4 and EV/EBITDA of 51.5 against a 1.08% FCF yield leave little margin for error if expectations falter.. Look at the math on WAT: paying 73.4x trailing P/E for 16.8% ROIC and 25.4% operating margins leaves zero margin of safety if Biotechnology: Laboratory Analytical Instruments demand softens. I'd wait for a retest of $407.19 before getting long.