Waters Corporation (WAT)
NYSE · Health Care · market cap 37.66B
Share price
$449.11
At the last nightly close
Intrinsic value
$276.99
Range $211.44 – $274.00 before any credit for growth. The figure above is $211.44 × 1.31, the credit the franchise record earns.
Margin of safety
-38.3%
($276.99 − $449.11) ÷ $449.11
EV / EBIT
41.9
On the median operating profit of 15 fiscal years through 2025.
How these numbers are computed
The valuations are calculated in Python from filed accounts, not written by a language model. Three methods run side by side: earnings power value, which capitalises a normalised operating profit; a free-cash-flow model; and the Graham Number as an asset-side cross-check. The conservative figure above starts from the lower of the first two; the Graham Number never enters it.
The frame gives no credit for growth unless the company has earned it: only a return on invested capital that has beaten the cost of capital year after year earns a growth credit, and that credit is capped. A company that compounds will therefore usually read as expensive against it — that is deliberate. It is a price-discipline floor, not a price target, and it is not a view on what the shares will do.
The EV/EBIT ranking uses the median operating profit of up to fifteen fiscal years — a full cycle — where the free screeners use the last twelve months. When the data cannot support a method, the figure reads n/a rather than a number: a free-cash-flow valuation on a bank, a PEG on erratic earnings, a multiple on a company with no operating profit to speak of.
Fundamentals from SEC EDGAR. Prices, market data and technicals from yfinance. Valuation computed 2026-10-29.
Key metrics
Market position
Annual financials
| Period | Revenue | Operating income | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|
| 2025-FY | 3.17B | 802.6M | 642.6M | 10.80 | 539.8M |
| 2024-FY | 2.96B | 837.9M | 637.8M | 10.75 | 619.6M |
| 2023-FY | 2.96B | 817.7M | 642.2M | 10.87 | 442.2M |
| 2022-FY | 2.97B | 883.2M | 707.8M | 11.80 | 428.2M |
| 2021-FY | 2.79B | 821.7M | 692.8M | 11.17 | n/a |
Filed figures from SEC EDGAR, in the reporting currency.
Next earnings
Recent news
- Waters (NYSE:WAT) - Stock Analysissimplywall.st
- Waters Corporation (WAT) Stock Price, News, Quote & History - Yahoo Financefinance.yahoo.com
- Is Waters Corporation (WAT) Stock a Good Investment? | AAIIaaii.com
- WAT Stock Price Quote | Morningstarmorningstar.com
- WAT Stock Quote Price and Forecast | CNNcnn.com
Headlines link to their source. Sperio does not republish article text.
The figures above are the arithmetic. To see what a board of eight AI agents makes of them — macro, sector, filings, news and a devil's advocate whose only job is to attack the thesis — run the full analysis on WAT.
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This page presents computed figures and filed financial data for information only. It is not investment advice, not a recommendation to buy or sell any security, and not a statement about what these shares will do. Sperio is a research tool, not an investment adviser. Figures are derived automatically from public filings and market data and may be incomplete, out of date or wrong. See the Terms & Disclaimer.