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Complete financial analysis of Waters Corporation (WAT) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Waters Corporation, a leading company in the Medical – Diagnostics & Research industry within the Healthcare sector.
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Waters Corporation (WAT)
About Waters Corporation
Waters Corporation, a specialty measurement company, 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 also 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. Its MS technology instruments are used in drug discovery and development comprising clinical trial testing, the analysis of proteins in disease processes, nutritional safety analysis, and environmental testing. The company offers 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 life science, pharmaceutical, biochemical, industrial, nutritional safety, environmental, academic, and governmental customers working in research and development, quality assurance, and other laboratory applications. Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.96B | 2.97B | 2.79B | 2.37B | 2.41B | 2.42B | 2.31B | 2.17B | 2.04B | 1.99B | 1.90B | 1.84B | 1.85B | 1.64B | 1.50B | 1.58B | 1.47B | 1.28B | 1.16B | 1.10B | 958.21M | 889.97M | 859.21M | 795.07M | 704.40M | 618.80M | 465.50M | 391.10M | 333.00M |
| Cost of Revenue | 1.20B | 1.25B | 1.16B | 1.01B | 1.01B | 992.56M | 947.07M | 891.45M | 842.67M | 824.91M | 783.46M | 737.61M | 730.49M | 653.30M | 594.88M | 661.27M | 631.12M | 536.19M | 478.36M | 454.81M | 397.85M | 373.47M | 311.23M | 265.90M | 235.60M | 213.40M | 158.70M | 133.60M | 109.70M |
| Gross Profit | 1.76B | 1.72B | 1.63B | 1.36B | 1.40B | 1.43B | 1.36B | 1.28B | 1.20B | 1.16B | 1.12B | 1.11B | 1.12B | 990.07M | 903.82M | 913.86M | 841.93M | 744.04M | 679.88M | 649.73M | 560.36M | 516.50M | 547.98M | 529.17M | 468.80M | 405.40M | 306.80M | 257.50M | 223.30M |
| Gross Profit Ratio | 59.57% | 58.00% | 58.49% | 57.44% | 58.00% | 58.98% | 58.99% | 58.87% | 58.74% | 58.53% | 58.86% | 59.99% | 60.54% | 60.25% | 60.31% | 58.02% | 57.16% | 58.12% | 58.70% | 58.82% | 58.48% | 58.04% | 63.78% | 66.56% | 66.55% | 65.51% | 65.91% | 65.84% | 67.06% |
| Research & Development | 174.95M | 176.19M | 168.36M | 140.78M | 142.96M | 143.40M | 132.59M | 125.19M | 118.55M | 107.73M | 100.54M | 96.00M | 92.35M | 84.27M | 77.15M | 81.59M | 80.65M | 77.31M | 66.91M | 65.24M | 59.24M | 51.92M | 46.60M | 42.51M | 36.10M | 34.40M | 80.80M | 20.90M | 17.70M |
| General & Administrative | 690.34M | 651.03M | 619.97M | 547.70M | 528.79M | 529.90M | 538.70M | 502.03M | 484.75M | 500.71M | 481.97M | 464.27M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 7.00M | 7.00M | 7.00M | 6.00M | 6.00M | 7.00M | 6.00M | 11.00M | 11.00M | 12.00M | 11.00M | 13.00M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 736.01M | 658.03M | 626.97M | 553.70M | 534.79M | 536.90M | 544.70M | 513.03M | 495.75M | 512.71M | 492.97M | 477.27M | 490.01M | 445.46M | 421.40M | 426.70M | 403.70M | 357.66M | 321.69M | 300.15M | 264.25M | 246.82M | 269.71M | 246.39M | 226.60M | 206.20M | 167.30M | 148.50M | 132.70M |
| Other Expenses | 32.56M | 6.37M | 7.14M | 10.59M | 9.69M | -47.79M | 6.74M | 9.89M | 10.12M | 10.63M | -1.58M | 13.83M | 9.73M | 10.41M | 10.66M | 15.82M | 8.70M | 5.44M | 8.13M | -466.00K | 16.77M | 13.95M | 82.14M | 29.44M | 29.60M | 28.40M | 21.10M | 17.80M | 16.50M |
| Operating Expenses | 943.52M | 840.58M | 802.47M | 705.06M | 687.44M | 688.02M | 684.04M | 648.11M | 624.42M | 631.07M | 603.42M | 587.10M | 592.09M | 540.14M | 509.22M | 524.10M | 493.05M | 440.41M | 396.73M | 364.93M | 340.27M | 312.68M | 398.45M | 318.34M | 292.30M | 269.00M | 269.20M | 187.20M | 166.90M |
| Cost & Expenses | 2.14B | 2.09B | 1.96B | 1.71B | 1.70B | 1.68B | 1.63B | 1.54B | 1.47B | 1.46B | 1.39B | 1.32B | 1.32B | 1.19B | 1.10B | 1.19B | 1.12B | 976.59M | 875.08M | 819.73M | 738.12M | 686.15M | 709.68M | 584.24M | 527.90M | 482.40M | 427.90M | 320.80M | 276.60M |
| Interest Income | 16.62M | 11.02M | 12.22M | 16.27M | 22.06M | 38.81M | 36.08M | 20.69M | 10.71M | 7.02M | 4.39M | 4.21M | 2.62M | 1.86M | 3.04M | 0.00 | 0.00 | 0.00 | 19.26M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 98.86M | 37.78M | 32.72M | 32.80M | 26.63M | 9.83M | 20.76M | 24.23M | 25.53M | 27.17M | 25.66M | 23.87M | 19.35M | 12.07M | 7.95M | 17.56M | 25.69M | 32.19M | 8.59M | 0.00 | 0.00 | 5.51M | 2.10M | 10.64M | 9.00M | 34.90M | 30.10M | 39.20M | 39.20M |
| Depreciation & Amortization | 165.91M | 130.42M | 131.68M | 125.36M | 105.30M | 108.41M | 106.00M | 96.45M | 10.12M | 10.63M | 9.92M | 13.83M | 9.73M | 10.41M | 10.66M | 65.27M | 53.32M | 46.16M | 43.69M | 41.93M | 33.85M | 37.19M | 33.95M | 29.44M | 29.60M | 28.40M | 21.10M | 17.80M | 16.50M |
| EBITDA | 1.00B | 1.01B | 958.43M | 777.97M | 822.09M | 799.64M | 783.97M | 725.01M | 668.23M | 638.31M | 597.04M | 584.53M | 597.61M | 514.35M | 454.91M | 475.98M | 402.20M | 360.78M | 326.84M | 337.67M | 253.94M | 241.01M | 183.48M | 240.26M | 206.10M | 164.80M | 58.70M | 88.10M | 72.90M |
| EBITDA Ratio | 33.86% | 34.18% | 35.03% | 33.28% | 33.66% | 33.06% | 33.95% | 29.42% | 28.66% | 27.35% | 27.61% | 28.90% | 29.08% | 28.01% | 27.04% | 29.30% | 27.30% | 28.44% | 28.76% | 29.19% | 27.93% | 29.75% | 30.91% | 30.22% | 29.26% | 29.30% | 16.15% | 28.79% | 24.53% |
| Operating Income | 817.68M | 873.40M | 821.71M | 645.49M | 708.46M | 739.77M | 661.86M | 624.34M | 567.45M | 517.91M | 517.34M | 511.49M | 528.60M | 449.93M | 394.60M | 389.75M | 348.88M | 295.15M | 283.16M | 284.86M | 219.17M | 196.41M | 149.53M | 210.83M | 176.50M | 136.40M | 37.60M | 70.30M | 56.40M |
| Operating Income Ratio | 27.66% | 29.39% | 29.50% | 27.29% | 29.44% | 30.57% | 28.66% | 28.81% | 27.78% | 26.03% | 27.17% | 27.74% | 28.55% | 27.38% | 26.33% | 24.74% | 23.68% | 23.05% | 24.45% | 25.79% | 22.87% | 22.07% | 17.40% | 26.52% | 25.06% | 22.04% | 8.08% | 17.97% | 16.94% |
| Total Other Income/Expenses | -81.43M | -35.55M | -15.51M | -34.58M | -30.22M | -57.63M | -21.10M | -24.93M | -25.53M | -27.17M | -27.24M | -23.87M | -19.35M | -12.07M | -7.95M | -17.56M | -25.69M | -36.78M | -8.59M | 813.00K | 4.51M | -1.00M | -2.10M | 135.00K | -9.00M | -34.90M | -30.10M | -39.20M | -39.20M |
| Income Before Tax | 736.24M | 837.85M | 806.19M | 610.91M | 678.24M | 682.15M | 641.10M | 600.11M | 541.92M | 490.74M | 490.11M | 487.63M | 509.25M | 437.86M | 386.65M | 372.19M | 323.19M | 262.96M | 274.56M | 285.67M | 223.69M | 195.41M | 147.43M | 210.96M | 167.50M | 101.50M | 7.50M | 31.10M | 17.20M |
| Income Before Tax Ratio | 24.90% | 28.19% | 28.94% | 25.83% | 28.18% | 28.19% | 27.76% | 27.69% | 26.53% | 24.67% | 25.74% | 26.45% | 27.51% | 26.64% | 25.80% | 23.63% | 21.94% | 20.54% | 23.71% | 25.86% | 23.34% | 21.96% | 17.16% | 26.53% | 23.78% | 16.40% | 1.61% | 7.95% | 5.17% |
| Income Tax Expense | 94.01M | 130.09M | 113.35M | 89.34M | 86.04M | 88.35M | 620.79M | 78.61M | 72.87M | 59.12M | 40.10M | 26.18M | 76.28M | 56.10M | 63.34M | 49.71M | 55.12M | 40.76M | 72.59M | 61.62M | 52.80M | 43.19M | 32.88M | 54.85M | 45.20M | 27.10M | 15.80M | 11.20M | 3.10M |
| Net Income | 642.23M | 707.76M | 692.84M | 521.57M | 592.20M | 593.79M | 20.31M | 521.50M | 469.05M | 431.62M | 450.00M | 461.44M | 432.97M | 381.76M | 323.31M | 322.48M | 268.07M | 222.20M | 201.98M | 224.05M | 170.89M | 147.71M | 114.54M | 145.34M | 122.30M | 74.40M | -8.30M | -2.40M | 2.00M |
| Net Income Ratio | 21.72% | 23.81% | 24.87% | 22.05% | 24.61% | 24.54% | 0.88% | 24.06% | 22.97% | 21.70% | 23.63% | 25.03% | 23.39% | 23.23% | 21.57% | 20.47% | 18.20% | 17.36% | 17.44% | 20.28% | 17.83% | 16.60% | 13.33% | 18.28% | 17.36% | 12.02% | -1.78% | -0.61% | 0.60% |
| EPS | 10.87 | 11.80 | 11.25 | 8.40 | 8.76 | 7.71 | 0.25 | 6.46 | 5.70 | 5.12 | 5.27 | 5.25 | 4.77 | 4.13 | 3.37 | 3.25 | 2.67 | 2.16 | 1.77 | 1.87 | 1.39 | 1.13 | 0.88 | 1.14 | 0.99 | 0.61 | -0.07 | -0.02 | 0.01 |
| EPS Diluted | 10.84 | 11.73 | 11.17 | 8.36 | 8.69 | 7.65 | 0.25 | 6.41 | 5.65 | 5.07 | 5.20 | 5.19 | 4.69 | 4.06 | 3.34 | 3.21 | 2.62 | 2.13 | 1.74 | 1.82 | 1.34 | 1.09 | 0.83 | 1.06 | 0.92 | 0.57 | -0.07 | -0.02 | 0.01 |
| Weighted Avg Shares Out | 59.08M | 59.99M | 61.58M | 62.09M | 67.63M | 76.99M | 79.79M | 80.79M | 82.34M | 84.36M | 85.43M | 87.84M | 90.83M | 92.39M | 95.80M | 99.20M | 100.50M | 102.69M | 114.02M | 119.64M | 123.19M | 130.49M | 130.56M | 127.57M | 123.01M | 119.72M | 116.51M | 120.00M | 110.00M |
| Weighted Avg Shares Out (Dil) | 59.27M | 60.33M | 62.03M | 62.41M | 68.17M | 77.62M | 80.60M | 81.42M | 83.09M | 85.15M | 86.55M | 88.98M | 92.33M | 94.06M | 96.86M | 100.56M | 102.51M | 104.24M | 115.95M | 123.07M | 127.58M | 135.76M | 137.51M | 136.74M | 132.63M | 119.72M | 116.51M | 120.00M | 110.00M |
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Why Is Waters (WAT) Down 2.2% Since Last Earnings Report?
Waters (WAT) reported earnings 30 days ago. What's next for the stock?
Source: https://incomestatements.info
Category: Stock Reports
How did Waters Corporation’s EPS change in 2023?
On a GAAP basis, EPS for fiscal year 2023 was $10.84, compared to $11.73 for fiscal year 2022. On a non-GAAP basis, EPS was $11.75, compared to $12.02 in fiscal year 2022. This includes a headwind of approximately 3% due to unfavorable foreign exchange and a 1% dilution from the Wyatt acquisition.
What were Waters Corporation’s revenue and profits in 2023?
For fiscal year 2023, the Company’s sales were $2,956 million, a decrease of 0.5% as reported, compared to sales of $2,972 million for fiscal year 2022. Currency translation decreased sales by approximately 1%, while the impact of acquisitions increased sales by 2.5%.
How did the Wyatt acquisition affect Waters’ 2023 financials?
In 2023, we completed the largest acquisition in Waters history with Wyatt Technology LLC, which contributed 2.5% to our revenues.