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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 2023, Waters generated 57% from biopharmaceutical customers, 31% from industrial clients, and 12% from academic/government institutions.
1991
7.6K+
LTM Revenue $3.0B
LTM EBITDA $1.1B
$21.2B
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 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| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.0B | XXX | XXX | XXX |
| Gross Profit | $1.7B | $1.8B | XXX | XXX | XXX |
| Gross Margin | 58% | 60% | XXX | XXX | XXX |
| EBITDA | $1.0B | $1.0B | XXX | XXX | XXX |
| EBITDA Margin | 34% | 35% | XXX | XXX | XXX |
| Net Profit | $708M | $642M | XXX | XXX | XXX |
| Net Margin | 24% | 22% | XXX | XXX | XXX |
| Net Debt | $1.1B | $2.0B | XXX | XXX | XXX |
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As of April 15, 2025, Waters's stock price is $334.
Waters has current market cap of $19.9B, and EV of $21.2B.
See Waters trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $21.2B | $19.9B | XXX | XXX | XXX | XXX | $12.15 |
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Sign UpAs of April 15, 2025, Waters has market cap of $19.9B and EV of $21.2B.
Waters's trades at 7.1x LTM EV/Revenue multiple, and 19.6x LTM EBITDA.
Analysts estimate Waters's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Waters and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $21.2B | XXX | XXX | XXX |
| EV/Revenue | 7.2x | XXX | XXX | XXX |
| EV/EBITDA | 20.5x | XXX | XXX | XXX |
| P/E | 31.1x | XXX | XXX | XXX |
| P/E/Growth | 2.2x | XXX | XXX | XXX |
| EV/FCF | 34.3x | 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.
Sign UpWaters's NTM/LTM revenue growth is 3%
Waters's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Waters's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Waters's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Waters and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 0% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 35% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 4% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 38% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.4M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 6% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 31% | XXX | 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 |
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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 |
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Sign Up| 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 $19.9B |
| What is the current revenue of Waters? | Waters's last 12-month revenue is $3.0B. |
| What is the current EBITDA of Waters? | Waters's last 12-month EBITDA is $1.1B. |
| What is the current EV/Revenue multiple of Waters? | Current revenue multiple of Waters is 7.1x. |
| What is the current EV/EBITDA multiple of Waters? | Current EBITDA multiple of Waters is 19.6x. |
| What is the current revenue growth of Waters? | Waters revenue growth between 2023 and 2024 was 0%. |
| Is Waters profitable? | Yes, Waters is EBITDA-positive (as of the last 12 months). |
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