Waters Corporation (WAT)
Health Care · Analytical instruments and life sciences diagnostics
A leading global analytical instruments and life sciences company combining chromatography, mass spectrometry, and diagnostic solutions following a transformative $16.8 billion acquisition of BD's biosciences and diagnostics businesses.
What Waters Corporation does
Waters Corporation is a global leader in analytical instruments and software with over 65 years of innovation in chromatography, mass spectrometry, and thermal analysis. The company designs, manufactures, and services high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), and mass spectrometry systems for pharmaceutical, clinical, industrial, and research applications. In February 2026, Waters completed a transformative $16.8 billion acquisition of Becton Dickinson's biosciences and diagnostic solutions businesses, significantly expanding the company's product portfolio to include flow cytometry instruments, diagnostic specimen collection systems, immunology and cancer research tools, and multiomics solutions.
Themes: ["Life sciences instrumentation","Pharmaceutical R&D and quality assurance","Diagnostic testing and clinical analysis","Flow cytometry and immunology","Proteomics and drug discovery","Food and environmental testing","Cancer research and diagnostics","Healthcare specimen collection","Materials science analysis"]
Fundamentals
- Price$368.13 as of 2026-07-08 close
- Market cap$37.4B as of 2026-07-09
- 1-year return+5.9% as of 2026-07-08 close
- P/E83.17 as of 2026-07-09
- Net margin+11.9% as of 2026-07-09
- Gross margin+55.1% as of 2026-07-09
- ROE+8.0% as of 2026-07-09
- Debt / equity0.34 as of 2026-07-09
- Revenue growth (YoY)+26.4% as of 2026-07-09
- Revenue CAGR (3y)+2.1% SEC XBRL
- Beta1.19 as of 2026-07-09
Key risks (from latest filing)
["Integration risk from the $16.8 billion BDS Business Acquisition of BD's biosciences and diagnostics units, significantly expanding debt and organizational complexity","Currency exposure and foreign exchange headwinds affecting profitability, with recent FX translation losses of $38 million in Q1 2026","High leverage and interest expense burden following acquisition-related debt issuance of approximately $4.0 billion, with interest expense increasing to $48 million in Q1 2026 versus $14 million prior year"]
Fundamentals: Finnhub, as of 2026-07-09. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.