NYSE:WAT
Waters Corp.
Waters Corp.'s revenue grew 7.0% in fiscal 2025 to $3.2B while operating margin fell to 25.4%, its lowest in 10 years. Free cash flow was $539.8M, 17.1% of revenue.Summary generated from Waters Corp.'s SEC filings. Latest annual report filed Feb 23, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$3.2B
Revenue growth+7.0%
Revenue, 5-yr CAGR+6.0%
Gross margin59.3%
Operating margin25.4%
Net margin20.3%
ROIC21.0%
Return on equity29.3%
Debt / equity0.55
Free cash flow$539.8M
FCF margin17.1%
Share count change+0.3%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 2,786 | 2,972 | 2,956 | 2,958 | 3,165 |
| Operating income | 822 | 873 | 818 | 826 | 803 |
| Net income | 693 | 708 | 642 | 638 | 643 |
| Free cash flow | n/a | n/a | 442 | 620 | 540 |
Recent filings
- 4Insider transaction report
Oct 2, 2026 - 4Insider transaction report
Oct 2, 2026 - 8-KDirector or officer change
Aug 21, 2026 - 10-QQuarterly report for the period ended Jul 4, 2026
Aug 11, 2026 - 8-KResults of operations and financial condition
Aug 4, 2026 - 8-KResults of a shareholder vote
May 22, 2026 - 10-QQuarterly report for the period ended Apr 4, 2026
May 12, 2026 - 8-KResults of operations and financial condition
May 5, 2026