Waters Corporation (WAT) Earnings History
Annual and quarterly earnings data from 1995 to 2025
Loading earnings history...
WAT EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
WAT Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 57.8% | 28.2% | 20.3% |
| 2024 | 59.4% | 27.9% | 21.6% |
| 2023 | 59.6% | 27.7% | 21.7% |
| 2022 | 58.0% | 29.4% | 23.8% |
| 2021 | 58.5% | 29.5% | 24.9% |
Download Data
Export WAT earnings history in CSV or JSON format
Free sign-in required to download data
Waters Corporation (WAT) Earnings Overview
As of May 8, 2026, Waters Corporation (WAT) reported trailing twelve-month net income of $449M, reflecting +0.5% year-over-year growth. The company earned $5.47 per diluted share over the past four quarters, with a net profit margin of 20.3%.
Looking at the long-term picture, WAT's 5-year EPS compound annual growth rate (CAGR) stands at +5.2%, showing solid earnings momentum. The company achieved its highest annual net income of $708M in fiscal 2022.
Waters Corporation maintains industry-leading profitability with a gross margin of 57.8%, operating margin of 28.2%, and net margin of 20.3%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including A ($1.29B net income, 18.8% margin), BRKR (-$12M net income, -0.3% margin), MTSI ($177M net income, -5.6% margin), WAT has outperformed on profitability metrics. Compare WAT vs A →
WAT Earnings vs Peers
Earnings metrics vs comparable public companies
WAT Historical Earnings Data (1995–2025)
31 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $643M | +0.8% | $893M | $10.76 | 20.3% | 28.2% |
| 2024 | $638M | -0.7% | $826M | $10.71 | 21.6% | 27.9% |
| 2023 | $642M | -9.3% | $818M | $10.84 | 21.7% | 27.7% |
| 2022 | $708M | +2.2% | $873M | $11.73 | 23.8% | 29.4% |
| 2021 | $693M | +32.8% | $822M | $11.17 | 24.9% | 29.5% |
| 2020 | $522M | -11.9% | $645M | $8.36 | 22.1% | 27.3% |
| 2019 | $592M | -0.3% | $708M | $8.69 | 24.6% | 29.4% |
| 2018 | $594M | +2823.5% | $740M | $7.65 | 24.5% | 30.6% |
| 2017 | $20M | -96.1% | $662M | $0.25 | 0.9% | 28.7% |
| 2016 | $522M | +11.2% | $625M | $6.41 | 24.1% | 28.8% |
Full WAT Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See WAT's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs WAT Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare WAT vs DBVT
Side-by-side business, growth, and profitability comparison vs DBV Technologies S.A..
Start ComparisonWAT — Frequently Asked Questions
Quick answers to the most common questions about buying WAT stock.
Is WAT growing earnings?
WAT EPS of $5.47 reflects slowing growth at +0.5%, below the 5-year CAGR of +5.2%. TTM net income is $449M. Expansion rate has moderated.
What are WAT's profit margins?
Waters Corporation net margin is +20.3%, with operating margin at +28.2%. Above-average margins indicate pricing power.
How consistent are WAT's earnings?
WAT earnings data spans 1995-2025. The current earnings trend is +0.5% YoY. Historical data enables comparison across business cycles.