Waters (WAT): revenue, EPS, cash flow, P/E
Waters Corporation reported revenue of $1.8B for the quarter to 3 Oct 2026 (Q3 FY26). Trailing P/E 197.5 on the 13 Nov 2026 close.
Waters Corporation fundamentals
- Last close
- 460.25 (13 Nov 2026, Yahoo Finance)
- Market value
- $45.2B (0.10B shares, 10-Q cover 6 Nov 2026, × close)
- P/E, trailing
- 197.5 (460.25 ÷ $2.33 diluted EPS, last four quarters)
- Price to sales
- 8.1 (market value ÷ $5.6B revenue, last four quarters)
- Free cash flow yield
- —
- Dividend yield
- —
- Net cash
- −$3.9B (cash and short-term investments minus debt, 3 Oct 2026)
| Q4 FY25 to 31 Dec 2025 | Q1 FY26 to 4 Apr 2026 | Q2 FY26* to 4 Jul 2026 | Q3 FY26* to 3 Oct 2026 | |
|---|---|---|---|---|
| Revenue | 932.4 | 1267.0 | 1645.0 | 1767.0 |
| Revenue vs a year earlier | — | — | — | — |
| Operating income | 270.5 | -47.0 | -86.0 | 128.0 |
| Operating margin | 29.0% | -3.7% | -5.2% | 7.2% |
| Net income | 225.2 | -72.0 | -136.0 | 81.0 |
| Diluted EPS | $3.77 | $-0.87 | $-1.39 | $0.82 |
| Operating cash flow | — | -3.0 | 201.0 | 117.0 |
| Capital spending | — | 39.0 | 48.0 | 63.0 |
| Free cash flow | — | -42.0 | 153.0 | 54.0 |
| Filing | 10-K, 23 Feb 2026 | 10-Q, 12 May 2026 | 10-Q, 11 Aug 2026 | 10-Q, 10 Nov 2026 |
| FY22 to 31 Dec 2022 | FY23 to 31 Dec 2023 | FY24 to 31 Dec 2024 | FY25 to 31 Dec 2025 | |
|---|---|---|---|---|
| Revenue | 2972.0 | 2956.4 | 2958.4 | 3165.3 |
| Revenue vs a year earlier | +6.7% | -0.5% | +0.1% | +7.0% |
| Operating income | 873.4 | 817.7 | 826.4 | 802.6 |
| Operating margin | 29.4% | 27.7% | 27.9% | 25.4% |
| Net income | 707.8 | 642.2 | 637.8 | 642.6 |
| Diluted EPS | $11.73 | $10.84 | $10.71 | $10.76 |
| Operating cash flow | 611.7 | 602.8 | 762.1 | 652.6 |
| Capital spending | — | 160.6 | 142.5 | 112.7 |
| Free cash flow | — | 442.2 | 619.6 | 539.8 |
| Filing | 10-K, 25 Feb 2025 | 10-K, 23 Feb 2026 | 10-K, 23 Feb 2026 | 10-K, 23 Feb 2026 |
Balance sheet at 3 Oct 2026 (10-Q): cash and short-term investments $593.0M, debt $4.5B, shareholders’ equity $15.3B.
Free cash flow = operating cash flow − capital spending, as PYE Markets calculates it. * Not filed on its own: the year to date minus the earlier quarters, so per-share figures are approximate. Each column shows the latest filing that reports it. Source: SEC EDGAR XBRL company facts; price: Yahoo Finance daily close. Not investment advice.
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