Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
Help & Tutorial 
Cancel anytime
- Chart
- Upturn Summary
- Highlights
- Revenue
- Valuation
Upturn AI SWOT - About
WAT 
Waters Corporation (WAT)
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)
Stock price based on last close (see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
09/15/2025: WAT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
22 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $347.14
1 Year Target Price $347.14
| 6 | Strong Buy |
| 1 | Buy |
| 15 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -13.94% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 09/15/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 17.80B USD | Price to earnings Ratio 26.68 | 1Y Target Price 347.14 |
Price to earnings Ratio 26.68 | 1Y Target Price 347.14 | ||
Volume (30-day avg) 22 | Beta 1.07 | 52 Weeks Range 275.05 - 423.56 | Updated Date 09/15/2025 |
52 Weeks Range 275.05 - 423.56 | Updated Date 09/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 11.21 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 21.71% | Operating Margin (TTM) 26.22% |
Management Effectiveness
Return on Assets (TTM) 11.7% | Return on Equity (TTM) 37.03% |
Valuation
Trailing PE 26.68 | Forward PE 20.79 | Enterprise Value 18753985760 | Price to Sales(TTM) 5.84 |
Enterprise Value 18753985760 | Price to Sales(TTM) 5.84 | ||
Enterprise Value to Revenue 6.16 | Enterprise Value to EBITDA 17.74 | Shares Outstanding 59524100 | Shares Floating 59402701 |
Shares Outstanding 59524100 | Shares Floating 59402701 | ||
Percent Insiders 0.16 | Percent Institutions 99.55 |
Upturn AI SWOT
Waters Corporation
Company Overview
History and Background
Waters Corporation was founded in 1958 by James Logan Waters. Initially focused on liquid chromatography, the company pioneered advancements in analytical technologies. It has grown into a global leader in analytical instruments and software.
Core Business Areas
- Waters Division: Offers high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), mass spectrometry (MS), and related software and services for analytical laboratories.
- TA Instruments Division: Develops and manufactures thermal analysis, rheology, and microcalorimetry instruments used to measure physical and thermal properties of materials.
Leadership and Structure
Udit Batra serves as the President and CEO. The company has a traditional hierarchical structure with functional departments such as R&D, Sales, Marketing, and Operations.
Top Products and Market Share
Key Offerings
- Acquity UPLC Systems: Ultra-Performance Liquid Chromatography systems. Market share difficult to pinpoint exactly, but Waters is a leader in HPLC/UPLC. Competitors include Agilent, Thermo Fisher, and Shimadzu.
- Xevo Mass Spectrometers: Mass Spectrometry systems for compound identification and quantification. Revenue from mass spectrometry is a significant portion of Waters' total revenue. Competitors include Agilent, Thermo Fisher, and Bruker.
- TA Instruments Thermal Analyzers: Instruments for measuring thermal properties. TA instruments makes a large portion of the revenue. Competitors include PerkinElmer, NETZSCH and Setaram.
Market Dynamics
Industry Overview
The analytical instruments industry is driven by pharmaceutical research, environmental testing, food safety, and materials science. The market is characterized by technological innovation and regulatory requirements.
Positioning
Waters Corporation is a leader in liquid chromatography and mass spectrometry. Their competitive advantage lies in innovative technology, a strong brand reputation, and global service network.
Total Addressable Market (TAM)
The global analytical instrumentation market is estimated at ~$70 billion. Waters is positioned to capture a significant share through continued innovation and expansion into related areas.
Upturn SWOT Analysis
Strengths
- Strong Brand Reputation
- Leading Technology in LC and MS
- Global Service Network
- Diverse Product Portfolio
- High Switching Costs for Customers
Weaknesses
- High Price Point of Products
- Dependence on Pharmaceutical Industry
- Slower Growth Compared to Some Competitors
- Exposure to Currency Fluctuations
Opportunities
- Expanding into Emerging Markets
- Developing New Applications for Existing Technologies
- Acquiring Complementary Businesses
- Increased Demand for Biopharmaceutical Analysis
Threats
- Intense Competition
- Technological Disruption
- Economic Downturns
- Regulatory Changes
Competitors and Market Share
Key Competitors
- Agilent Technologies (A)
- Thermo Fisher Scientific (TMO)
- Shimadzu Corp (Shimadzu does not trade on US Exchange)
Competitive Landscape
Waters has a strong position in LC and MS, while Agilent and Thermo Fisher offer broader portfolios. Competition is intense on innovation and pricing.
Major Acquisitions
El-Mul Technologies
- Year: 2023
- Acquisition Price (USD millions): 180
- Strategic Rationale: Expands mass spectrometry capabilities with advanced electron multipliers.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been steady, driven by product innovation and market expansion.
Future Projections: Analysts project continued growth, fueled by biopharmaceutical demand and emerging markets.
Recent Initiatives: Focus on strategic acquisitions and investments in R&D.
Summary
Waters Corporation is a strong player in the analytical instruments market, particularly in liquid chromatography and mass spectrometry. The company benefits from a strong brand and innovative technology but faces competition and dependence on the pharmaceutical industry. Future growth relies on expansion into emerging markets and successful product development. Recent strategic acquisitions are expected to aid in growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Waters Corporation Investor Relations
- SEC Filings (10-K, 10-Q)
- Market Research Reports
- Analyst Reports
Disclaimers:
The information provided is for informational purposes only and does not constitute financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Waters Corporation
Exchange NYSE | Headquaters Milford, MA, United States | ||
IPO Launch date 1995-11-16 | President, CEO & Director Dr. Udit Batra Ph.D. | ||
Sector Healthcare | Industry Diagnostics & Research | Full time employees 7600 | Website https://www.waters.com |
Full time employees 7600 | Website https://www.waters.com | ||
Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. It designs, manufactures, sells, and services thermal analysis, rheometry, and calorimetry instruments; and develops and supplies software-based products that interface with its instruments, as well as other manufacturers' instruments. In addition, the company offers MS technology are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. Further, the company provides thermal analysis, rheometry, and calorimetry instruments for use in predicting the suitability and stability of fine chemicals, pharmaceuticals, water, polymers, metals, and viscous liquids for various industrial, consumer good, and healthcare products, as well as for life science research. Its products are used by clinical, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. The company was founded in 1958 and is headquartered in Milford, Massachusetts.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.