🫧 Edgar looked up Waters Corporation ($WAT). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-21. 12 event filings (8-K) in the past twelve months.
🔖 Exposure: revenue $3.2B (FY2025), total debt $1.4B. Experience: revenue up 7.0% on the year, up 3.2% a year over 4 years; operating margin 25.4%, down from 27.9%. Soundness: equity 50.5% of assets, return on equity 25.1%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.9B and $3.6B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $2.8B to $3.8B. A statistical range, not company guidance. Against peers (12 filers, $50M+ revenue, laboratory analytical instruments): operating margin 25.4% against a -1.0% median; growth 7.0% against 1.1%.
| Fiscal year end | 2025-12-31 |
| Revenue | $3.2B |
| Revenue, on the year | 7.0% |
| Revenue, a year over the record | 3.2% |
| Operating margin | 25.4% |
| Operating margin, prior year | 27.9% |
| Net margin | 20.3% |
| Research and development | $196M · 6.2% of revenue |
| Total debt | $1.4B |
| Equity of assets | 50.5% |
| Return on equity | 25.1% |
| Payout of profit | — |
| Dividend per share | — |
| Earnings per share | $10.8 |
| Book value per share | $42.90 |
| Revenue per share | $53.01 |
| Shares outstanding | 59,706,000 |
| Audited years read | 5 |
Peers: the median of 12 filers with $50M+ revenue in laboratory analytical instruments.
Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt.
Sailing speed follows growth: 2.1% a year crosses the harbor in 74 seconds.
No warning signs on the measures below.
Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.
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| Cash conversion (operating cash ÷ revenue) | 20.6% |
| Growth speed (3 years, per year) | 2.1% |
| Revenue swing (std-dev of yearly growth) | 4.0% |
| Cash flow (operating · investing · financing · free) | $653M · −$152M · −$237M · $540M |
| Investment book (cash · short-term · long-term) | $588M · — · — |
| Common dividend | none |
| Equity of assets | 50.5% |
Waters is growing slower than its size class, with steadier revenue. SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class.
Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company
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