Revenue
1.65 billion USD
2026-07-04 · USD
Exact inputs and evidence
- Revenue: 1645000000 USD Source
Fundies. English
WATERS CORP /DE/
EDGARAnnual consolidated revenue for 2025: about USD 3.165B, using the latest reported figures. The previous period, 2024, was about USD 2.958B.
Latest quarter
Operating margin
-5.23%
2026-07-04 · %
Operating cash flow
201 million USD
2026-07-04 · USD
- Cash and cash equivalents
- 539 million USD Source
Exact value
539000000 USD
- Long-term debt including current maturities
- 1.41 billion USD Source
Exact value
1410000000 USD
- Shares outstanding
- 98.2 million shares Source
Exact value
98225000 shares
Reported share-count change
65.05% · 38.7 million shares
Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.
Trailing twelve months
The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.
Net income
166 million USD
2025-06-29 – 2026-07-04
Exact inputs and evidence
Includes later revisions to earlier periods. Annual charts exclude incomplete years.
Latest filing recorded: 2026-08-11.
Financial data available through: 2025-12-31.
Coverage by financial measure
- Revenue: 11 of 11 periods available· newest 2025-12-31
- Operating income: 11 of 11 periods available· newest 2025-12-31
- Net income: 4 of 11 periods available· newest 2025-12-31
- Operating cash flow: 11 of 11 periods available· newest 2025-12-31
- capital expenditure: No compatible figures in this window
- Total assets: 11 of 11 periods available· newest 2025-12-31
- Total liabilities: 11 of 11 periods available· newest 2025-12-31
- Current assets: 11 of 11 periods available· newest 2025-12-31
- Current liabilities: 11 of 11 periods available· newest 2025-12-31
- Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
- Long-term debt including current maturities: 10 of 11 periods available· newest 2025-12-31
- Shares outstanding: 11 of 11 periods available· newest 2025-12-31
Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.
What changed year over year
Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.
Revenue
+7%Prior period
USD 2.96 billion
–
Current period
USD 3.17 billion
–
Exact inputs and evidence
3165286000 − 2958387000 = 206899000 USD
2958387000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source3165286000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Net income
+0.8%Prior period
USD 637.83 million
–
Current period
USD 642.63 million
–
Exact inputs and evidence
642629000 − 637834000 = 4795000 USD
637834000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source642629000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
-14.4%Prior period
USD 762.12 million
–
Current period
USD 652.56 million
–
Exact inputs and evidence
652555000 − 762123000 = -109568000 USD
762123000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source652555000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current sourceShare or cite
The citation records this snapshot. The page link may show a newer release later.
Comparable inputs unavailable for: Capital expenditure.
Where revenue goes
How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.
2025 2025-01-01 – 2025-12-31
- Revenue USD 3.17 billion 100% of revenue
- Cost of revenue USD 1.29 billion 41% of revenue
- Operating expenses USD 1.03 billion 32% of revenue
- Other operating costs Derived USD 47.79 million 1.5% of revenue
- Operating income USD 802.59 million 25% of revenue
- Tax, interest and other Derived USD 159.96 million 5.1% of revenue
- Net income USD 642.63 million 20% of revenue
Cash
- Operating cash flow USD 652.56 million 21% of revenue
- Capital expenditure Unavailable An input is unavailable.
- Free cash flow Derived Unavailable An input is unavailable.
Share of revenue by period
- Net income
- Tax, interest and other
- Operating costs
- 2016 Not shown: operating income or net income is not reported.
- 2017 Not shown: operating income or net income is not reported.
- 2018 Not shown: operating income or net income is not reported.
- 2019 Not shown: operating income or net income is not reported.
- 2020 Not shown: operating income or net income is not reported.
- 2021 Not shown: operating income or net income is not reported.
- 2022 24%71%
- 2023 22%72%
- 2024 22%72%
- 2025 20%75%
Values and sources
| Period | Revenue | Operating costs | Operating income | Tax, interest and other | Net income | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | 2167423000 | 1542384000 Derived | 625039000 | Unavailable | Unavailable | Unavailable | Source
|
| 2017 2017-01-01 – 2017-12-31 | 2309078000 | 1646880000 Derived | 662198000 | Unavailable | Unavailable | Unavailable | Source
|
| 2018 2018-01-01 – 2018-12-31 | 2419929000 | 1680155000 Derived | 739774000 | Unavailable | Unavailable | Unavailable | Source
|
| 2019 2019-01-01 – 2019-12-31 | 2406596000 | 1698139000 Derived | 708457000 | Unavailable | Unavailable | Unavailable | Source
|
| 2020 2020-01-01 – 2020-12-31 | 2365365000 | 1719876000 Derived | 645489000 | Unavailable | Unavailable | Unavailable | Source
|
| 2021 2021-01-01 – 2021-12-31 | 2785874000 | 1964167000 Derived | 821707000 | Unavailable | Unavailable | Unavailable | Source
|
| 2022 2022-01-01 – 2022-12-31 | 2971956000 | 2098561000 Derived | 873395000 | 165640000 Derived | 707755000 | Unavailable | Source
|
| 2023 2023-01-01 – 2023-12-31 | 2956416000 | 2138740000 Derived | 817676000 | 175442000 Derived | 642234000 | Unavailable | Source
|
| 2024 2024-01-01 – 2024-12-31 | 2958387000 | 2132034000 Derived | 826353000 | 188519000 Derived | 637834000 | Unavailable | Source
|
| 2025 2025-01-01 – 2025-12-31 | 3165286000 | 2362698000 Derived | 802588000 | 159959000 Derived | 642629000 | Unavailable | Source
|
Amounts are exact, in USD.
Growth
Sales over time and how quickly they are changing.
Revenue
Revenue reported for each complete financial period.
USD 3.2B 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Revenue | 2167423000 |
|
| 2017 | Revenue | 2309078000 |
|
| 2018 | Revenue | 2419929000 |
|
| 2019 | Revenue | 2406596000 |
|
| 2020 | Revenue | 2365365000 |
|
| 2021 | Revenue | 2785874000 |
|
| 2022 | Revenue | 2971956000 |
|
| 2023 | Revenue | 2956416000 |
|
| 2024 | Revenue | 2958387000 |
|
| 2025 | Revenue | 3165286000 |
|
Revenue growth
Change in revenue from the same financial period one year earlier.
7% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Year over year | 6.1% |
|
| 2017 | Year over year | 6.5% |
|
| 2018 | Year over year | 4.8% |
|
| 2019 | Year over year | -0.6% |
|
| 2020 | Year over year | -1.7% |
|
| 2021 | Year over year | 17.8% |
|
| 2022 | Year over year | 6.7% |
|
| 2023 | Year over year | -0.5% |
|
| 2024 | Year over year | 0.1% |
|
| 2025 | Year over year | 7% |
|
Profit and cash
How much revenue becomes profit, and how much cash operations generate.
Profit margins
Operating income, net income and free cash flow as a share of revenue.
Operating margin 25.4% 2025
Net margin 20.3% 2025
- Operating margin
- Net margin
- Free cash flow margin
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Operating margin | 28.8% |
|
| 2017 | Operating margin | 28.7% |
|
| 2018 | Operating margin | 30.6% |
|
| 2019 | Operating margin | 29.4% |
|
| 2020 | Operating margin | 27.3% |
|
| 2021 | Operating margin | 29.5% |
|
| 2022 | Operating margin | 29.4% |
|
| 2023 | Operating margin | 27.7% |
|
| 2024 | Operating margin | 27.9% |
|
| 2025 | Operating margin | 25.4% |
|
| 2016-12-31 | Net margin | Not reported |
|
| 2017-12-31 | Net margin | Not reported |
|
| 2018-12-31 | Net margin | Not reported |
|
| 2019-12-31 | Net margin | Not reported |
|
| 2020-12-31 | Net margin | Not reported |
|
| 2021-12-31 | Net margin | Not reported |
|
| 2022 | Net margin | 23.8% |
|
| 2023 | Net margin | 21.7% |
|
| 2024 | Net margin | 21.6% |
|
| 2025 | Net margin | 20.3% |
|
| 2016 | Free cash flow margin | Not reported |
|
| 2017 | Free cash flow margin | Not reported |
|
| 2018 | Free cash flow margin | Not reported |
|
| 2019 | Free cash flow margin | Not reported |
|
| 2020 | Free cash flow margin | Not reported |
|
| 2021 | Free cash flow margin | Not reported |
|
| 2022 | Free cash flow margin | Not reported |
|
| 2023 | Free cash flow margin | Not reported |
|
| 2024 | Free cash flow margin | Not reported |
|
| 2025 | Free cash flow margin | Not reported |
|
Operating cash flow
Cash generated by the company’s normal business operations.
USD 652.6M 2025
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Operating cash flow | 642920000 |
|
| 2017 | Operating cash flow | 697640000 |
|
| 2018 | Operating cash flow | 604446000 |
|
| 2019 | Operating cash flow | 643087000 |
|
| 2020 | Operating cash flow | 790507000 |
|
| 2021 | Operating cash flow | 747274000 |
|
| 2022 | Operating cash flow | 611661000 |
|
| 2023 | Operating cash flow | 602809000 |
|
| 2024 | Operating cash flow | 762123000 |
|
| 2025 | Operating cash flow | 652555000 |
|
Free cash flow
Operating cash flow minus capital expenditure for the same period and unit.
Not enough comparable data to show this history.
Values and sources
| Period | Series | Value(USD) | Source evidence |
|---|---|---|---|
| 2016 | Free cash flow | Unavailable |
|
| 2017 | Free cash flow | Unavailable |
|
| 2018 | Free cash flow | Unavailable |
|
| 2019 | Free cash flow | Unavailable |
|
| 2020 | Free cash flow | Unavailable |
|
| 2021 | Free cash flow | Unavailable |
|
| 2022 | Free cash flow | Unavailable |
|
| 2023 | Free cash flow | Unavailable |
|
| 2024 | Free cash flow | Unavailable |
|
| 2025 | Free cash flow | Unavailable |
|
Balance sheet
Liabilities and short-term ability to meet obligations at each period end.
Liabilities to assets
Total liabilities as a share of total assets.
49.5% 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Liabilities / assets | 50.6% |
|
| 2017 | Liabilities / assets | 58% |
|
| 2018 | Liabilities / assets | 58% |
|
| 2019 | Liabilities / assets | 108.5% |
|
| 2020 | Liabilities / assets | 91.8% |
|
| 2021 | Liabilities / assets | 88.1% |
|
| 2022 | Liabilities / assets | 84.6% |
|
| 2023 | Liabilities / assets | 75.1% |
|
| 2024 | Liabilities / assets | 59.8% |
|
| 2025 | Liabilities / assets | 49.5% |
|
Current assets to current liabilities
Current assets divided by current liabilities.
1.73× 2025
Values and sources
| Period | Series | Value | Source evidence |
|---|---|---|---|
| 2016 | Current assets / current liabilities | 6.99× |
|
| 2017 | Current assets / current liabilities | 7.04× |
|
| 2018 | Current assets / current liabilities | 5.93× |
|
| 2019 | Current assets / current liabilities | 2.22× |
|
| 2020 | Current assets / current liabilities | 1.74× |
|
| 2021 | Current assets / current liabilities | 2.39× |
|
| 2022 | Current assets / current liabilities | 2.24× |
|
| 2023 | Current assets / current liabilities | 2.22× |
|
| 2024 | Current assets / current liabilities | 2.11× |
|
| 2025 | Current assets / current liabilities | 1.73× |
|
Cash generation
Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.
| Period | Net income | Operating cash flow | Capital expenditure | Free cash flow |
|---|---|---|---|---|
| 2016 2016-01-01 – 2016-12-31 | Unavailable Not reported for this period. | USD 642.92 million Exact valueExact value: 642920000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2017 2017-01-01 – 2017-12-31 | Unavailable Not reported for this period. | USD 697.64 million Exact valueExact value: 697640000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2018 2018-01-01 – 2018-12-31 | Unavailable Not reported for this period. | USD 604.45 million Exact valueExact value: 604446000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2019 2019-01-01 – 2019-12-31 | Unavailable Not reported for this period. | USD 643.09 million Exact valueExact value: 643087000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2020 2020-01-01 – 2020-12-31 | Unavailable Not reported for this period. | USD 790.51 million Exact valueExact value: 790507000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2021 2021-01-01 – 2021-12-31 | Unavailable Not reported for this period. | USD 747.27 million Exact valueExact value: 747274000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2022 2022-01-01 – 2022-12-31 | USD 707.76 million Exact valueExact value: 707755000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 611.66 million Exact valueExact value: 611661000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2023 2023-01-01 – 2023-12-31 | USD 642.23 million Exact valueExact value: 642234000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 602.81 million Exact valueExact value: 602809000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2024 2024-01-01 – 2024-12-31 | USD 637.83 million Exact valueExact value: 637834000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 762.12 million Exact valueExact value: 762123000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
| 2025 2025-01-01 – 2025-12-31 | USD 642.63 million Exact valueExact value: 642629000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | USD 652.56 million Exact valueExact value: 652555000 USD Share or citeThe citation records this snapshot. The page link may show a newer release later. | Unavailable Not reported for this period. | Unavailable Free cash flow cannot be calculated because Capital expenditure is unavailable for this period. |
Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.
Dataset coverage and company identifiers
Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.
133 filings · 7,183 latest values · 7,183 originally reported values
Dataset published . Source filing dates and reporting periods are shown separately.
Identifiers: 0001000697, 1000697, WAT, edgar:1000697
Also known as WATERS CORP /DE/, Waters Corporation