Waters Corporation (WAT)
Waters Corporation creates the high-tech analytical tools and software that scientists use to test the purity and safety of medicines and food.
Is Waters Corporation a good stock for a UK beginner?
The honest version: Waters Corporation creates the high-tech analytical tools and software that scientists use to test the purity and safety of medicines and food.
Over about 2 years to 2026-07-31. This is the share price only; any dividends would add to it. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
Expansion into new testing markets like food safety
Long-term shift away from traditional lab testing
What does Waters Corporation do?
Think of Waters as the 'quality control' department for the global pharmaceutical industry. They make sophisticated machines that separate and identify chemical compounds, ensuring that the pills in your cabinet or the food on your plate are exactly what they claim to be. The income flows from selling these expensive instruments plus the ongoing service contracts and chemical supplies needed to keep them running. What really moves the needle here is how much money pharmaceutical companies spend on research and development, as that is where Waters' equipment is most essential.
On our factor screen it looks strongest on growth and momentum, and weakest on income.
- !Pays no dividend - the whole return rides on the share price
- ✓Growing - revenue up about 91% over the year
- !High P/E of 48 - big growth is already priced in
- ✓Low debt - a sturdier balance sheet
- Growth screens high (96/100)
- Essential role in the pharmaceutical supply chain
- High gross margins suggest strong pricing power
- Significant portion of revenue comes from recurring service and supplies
- Value screens low (30/100)
- Income screens low (16/100)
- Economic downturns could lead to cuts in research budgets
- Technological disruption from cheaper or faster testing methods
- Supply chain issues affecting the production of complex machinery
What do Waters Corporation's numbers mean?
How much money does Waters Corporation make?
Revenue and profit by quarter, and how much of each sale turns into profit.
Does Waters Corporation pay a dividend?
No - Waters Corporation doesn't currently pay a dividend, so the whole return would rest on the share price. Plenty of growing companies reinvest their profits instead of paying them out - neither approach is better or worse, they're just different.
When does Waters Corporation report earnings, and how did recent quarters go?
Waters Corporation is next scheduled to report on about 2026-08-04 - dates can move, and we don't predict results; this just tells you when to look.
Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2026-05-05 | $2.31 | $2.70 | Beat +17% |
| 2026-02-09 | $4.51 | $4.53 | In line |
| 2025-11-04 | $3.22 | $3.40 | Beat +5% |
| 2025-08-04 | $2.94 | $2.95 | In line |
| 2025-05-06 | $2.22 | $2.25 | Beat +1% |
| 2025-02-12 | $4.03 | $4.10 | Beat +2% |
Across the last 6 quarters here, Waters Corporation came in ahead of what analysts expected 4 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.
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Moderna, Inc.
Gilead Sciences, Inc.
Regeneron Pharmaceuticals, Inc.What are the scenarios for Waters Corporation?
An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.
What are the pros and cons of Waters Corporation?
How many points the write-up makes each way — a balance check, not a score or verdict.
- Essential role in the pharmaceutical supply chain
- High gross margins suggest strong pricing power
- Significant portion of revenue comes from recurring service and supplies
- High valuation relative to current earnings
- No dividend payments for income-focused investors
- Relies heavily on the spending habits of large pharmaceutical firms
- Economic downturns could lead to cuts in research budgets
- Technological disruption from cheaper or faster testing methods
- Supply chain issues affecting the production of complex machinery
The write-up's own warning lights — if these start happening, the case above changes.
- A sustained drop in pharmaceutical research and development spending
- Loss of market share to lower-cost competitors
Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →
This plain-English summary was auto-generated on 2026-08-01 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.