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Water sells liquid chromatography, mass spectrometry, and thermal analysis tools. These analytical instruments provide essential information on various products, such as their molecular structures and physical properties, to help clients enhance the health and well-being of end users. As a percentage of sales in 2024, Waters generated 58% from biopharmaceutical customers, 31% from industrial clients, and 11% from academic/government institutions.
1991
7.6K+
LTM Revenue $3.0B
LTM EBITDA $1.1B
$21.9B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Waters has a last 12-month revenue (LTM) of $3.0B and a last 12-month EBITDA of $1.1B.
In the most recent fiscal year, Waters achieved revenue of $3.0B and an EBITDA of $1.0B.
Waters expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Waters valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $3.0B | XXX | $3.0B | XXX | XXX | XXX |
| Gross Profit | $1.8B | XXX | $1.8B | XXX | XXX | XXX |
| Gross Margin | 59% | XXX | 59% | XXX | XXX | XXX |
| EBITDA | $1.1B | XXX | $1.0B | XXX | XXX | XXX |
| EBITDA Margin | 36% | XXX | 35% | XXX | XXX | XXX |
| EBIT | $935M | XXX | $838M | XXX | XXX | XXX |
| EBIT Margin | 31% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $733M | XXX | $638M | XXX | XXX | XXX |
| Net Margin | 24% | XXX | 22% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $1.3B | XXX | XXX | XXX |
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As of May 30, 2025, Waters's stock price is $349.
Waters has current market cap of $20.8B, and EV of $21.9B.
See Waters trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $21.9B | $20.8B | XXX | XXX | XXX | XXX | $12.30 |
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Start Free TrialAs of May 30, 2025, Waters has market cap of $20.8B and EV of $21.9B.
Waters's trades at 7.4x EV/Revenue multiple, and 21.2x EV/EBITDA.
Equity research analysts estimate Waters's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Waters has a P/E ratio of 28.4x.
See valuation multiples for Waters and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $20.8B | XXX | $20.8B | XXX | XXX | XXX |
| EV (current) | $21.9B | XXX | $21.9B | XXX | XXX | XXX |
| EV/Revenue | 7.3x | XXX | 7.4x | XXX | XXX | XXX |
| EV/EBITDA | 20.0x | XXX | 21.2x | XXX | XXX | XXX |
| EV/EBIT | 23.5x | XXX | 26.2x | XXX | XXX | XXX |
| EV/Gross Profit | 12.2x | XXX | n/a | XXX | XXX | XXX |
| P/E | 28.4x | XXX | 32.6x | XXX | XXX | XXX |
| EV/FCF | 32.0x | XXX | 35.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialWaters's last 12 month revenue growth is 6%
Waters's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Waters's rule of 40 is 40% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Waters's rule of X is 51% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Waters and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Margin | 36% | XXX | 35% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | 6% | XXX | XXX | XXX |
| Rule of 40 | 40% | XXX | 41% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 51% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 6% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 31% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Australian Clinical Labs | XXX | XXX | XXX | XXX | XXX | XXX |
| Healius | XXX | XXX | XXX | XXX | XXX | XXX |
| Integral Diagnostics | XXX | XXX | XXX | XXX | XXX | XXX |
| Sonic Healthcare | XXX | XXX | XXX | XXX | XXX | XXX |
| Bangkok Dusit Medical Services | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Waters acquired XXX companies to date.
Last acquisition by Waters was XXXXXXXX, XXXXX XXXXX XXXXXX . Waters acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was Waters founded? | Waters was founded in 1991. |
| Where is Waters headquartered? | Waters is headquartered in United States of America. |
| How many employees does Waters have? | As of today, Waters has 7.6K+ employees. |
| Who is the CEO of Waters? | Waters's CEO is Dr. Udit Batra, PhD. |
| Is Waters publicy listed? | Yes, Waters is a public company listed on NYS. |
| What is the stock symbol of Waters? | Waters trades under WAT ticker. |
| When did Waters go public? | Waters went public in 1995. |
| Who are competitors of Waters? | Similar companies to Waters include e.g. Australian Clinical Labs, Healius, Integral Diagnostics, Sonic Healthcare. |
| What is the current market cap of Waters? | Waters's current market cap is $20.8B |
| What is the current revenue of Waters? | Waters's last 12 months revenue is $3.0B. |
| What is the current revenue growth of Waters? | Waters revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Waters? | Current revenue multiple of Waters is 7.3x. |
| Is Waters profitable? | Yes, Waters is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Waters? | Waters's last 12 months EBITDA is $1.1B. |
| What is Waters's EBITDA margin? | Waters's last 12 months EBITDA margin is 36%. |
| What is the current EV/EBITDA multiple of Waters? | Current EBITDA multiple of Waters is 20.0x. |
| What is the current FCF of Waters? | Waters's last 12 months FCF is $685M. |
| What is Waters's FCF margin? | Waters's last 12 months FCF margin is 23%. |
| What is the current EV/FCF multiple of Waters? | Current FCF multiple of Waters is 32.0x. |
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