Key facts, as of
As of October 6, 2026, Waters Corporation (WAT) trades at $436.43, up 33.2% over the past year. Its 52-week range runs from $282.77 to $454.50; the price is 4.0% below that high. It is 4.0% below its all-time high of $454.49, reached in October 2026. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +177.2%, against +312.9% for the S&P 500 (SPY). It sits 19.8% above its 200-day average of $364.15, the usual sign of a long-term uptrend. Its 30-day volatility is 25.2% annualized, which we rate medium risk. It has a trailing P/E of 110.5.
Cite: Portfolio Terminal, "Waters Corporation (WAT) stock analysis", 2026-10-06. https://portfolio-terminal.com/analyse/wat
Where it trades today
trading 89% of the way up its 52-week range
How the price has moved
How far it is from its record
Waters Corporation (WAT) is 4.0% below its all-time high of $454.49, reached in October 2026. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +177.2%, against +312.9% for the S&P 500 (SPY).
What to weigh before acting
What Matters Now
- The read on the stock is often driven by pipeline durability, reimbursement pressure, and whether new launches can offset patent cliffs.
- WAT trades at 110.5x earnings, well above the healthcare average of 22.0x, so the market is already pricing in above-consensus execution.
- WAT carries a beta of 1.15, which means the stock should be judged on how it affects total portfolio swings, not just on standalone upside.
- WAT is in a bullish short-term regime and only 4.0% below its 52-week high, so the question is whether fundamentals can keep pace with that stronger tape.
Portfolio Use Case
- WAT is more useful for investors comparing conviction names inside healthcare than for someone looking for a passive “set and forget” holding.
- The risk profile looks balanced enough for a diversified core-plus portfolio, provided the position size reflects sector concentration.
- The stock becomes more useful when paired with an explicit catalyst watchlist, because sector sentiment can shift quickly around policy, rates, or pipeline news.
What Would Change the View
- A reset in earnings expectations or a faster peer catch-up could compress the premium valuation currently embedded in WAT.
- If the short-term trend rolls over while volume fades, the market may stop paying up for momentum before the fundamentals change.
- Volatility is already above the sector norm, so even a correct long-term thesis can be painful if the position size is too aggressive.
Methodology
- Price, market cap, beta, yield, and liquidity fields for WAT come from Yahoo Finance quote and summary data.
- 30-day volatility is calculated from recent daily returns and annualized using a 252-trading-day convention.
- Sector context uses stored benchmark averages for Healthcare so each page compares the ticker against a stable peer baseline rather than against the whole market.
- Peer comparisons use the Portfolio Terminal coverage set and highlight nearby listed alternatives such as UNH, JNJ, PFE.
Sources
- Yahoo Finance quote dataopen →
Live quote, valuation, beta, yield, and volume fields used for WAT. Last refresh: Oct 6, 2026, 11:07 PM.
- Portfolio Terminal methodologyopen →
Explains how analytics, refresh cadence, and portfolio interpretation work across the product.
- Peer set and coverage context
Comparative context for this page is anchored around nearby tracked names such as UNH, JNJ, PFE.
What Waters Corporation does
Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. The company operates through two segments, Waters and TA. The company designs, manufactures, sells, and services liquid chromatography, as well as mass spectrometry (MS) technology systems and supports products, including chromatography columns, and other consumable products. It also designs, manufactures, sells, and services 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 goods, and healthcare products, as well as for life…
What analysts expect
WAT carries a buy consensus from 23 analysts, with an average price target of $453.26 versus $436.43 today (+3.9%). Targets are estimates and can move quickly after earnings.
Consensus aggregated by Yahoo Finance. Targets are estimates, not forecasts.
How the business is doing
WAT generated $4.64B in trailing revenue (113.4% year over year), with a 3.6% net margin, and -$142.07M of free cash flow, against $4.94B of net debt.
The numbers, year by year
| Fiscal year | Revenue | Gross profit | Operating income | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| 2025 | $3.17B | $1.88B | $802.59M | $642.63M | $10.80 | $539.81M |
| 2024 | $2.96B | $1.76B | $837.92M | $637.83M | $10.75 | $619.64M |
| 2023 | $2.96B | $1.76B | $817.68M | $642.23M | $10.87 | $442.18M |
| 2022 | $2.97B | $1.72B | $883.19M | $707.75M | $11.80 | $428.20M |
When it reports next
Estimates aggregated by Yahoo Finance. Dates move and estimates change until the report lands.
Which ETFs hold it
WAT is in 7 of the 30 ETFs we track. It weighs most in XLV: 0.68% of the fund, holding #32 of 62.
Famous investors who hold it
WAT is in the latest 13F of 1 of the 15 famous investors we follow. Terry Smith (Fundsmith) holds the most of it: 6.25% of the portfolio, position #3 of 41, as of Q2 2026.
How it sits in healthcare
Defensive sector including pharmaceuticals, biotech, medical devices, and healthcare services.
The companies it competes with
WAT beside the healthcare names it is usually measured against.
What the chart is saying
In an uptrend, 4.0% under its 1-year high with no resistance above.
uptrend- Price is 5.7% above its 50-day average and 19.8% above its 200-day.
- The 50-day crossed above the 200-day on 2026-07-01 (a “golden cross”).
- RSI at 59 is neither stretched nor washed out.
- Nothing above has stopped it this year; the nearest floor is $411.41 (-5.7%).
A description of the chart, not advice. Indicators describe what the price has done; none of them knows what it does next.
Questions people ask about it
Is WAT a good investment in 2026?
Waters Corporation trades at a P/E ratio of 110.5, with medium volatility (25.2% annualized). Recent momentum is positive.
What is the risk level of WAT?
Based on 30-day volatility of 25.2%, WAT has MEDIUM risk. Beta of 1.15 indicates higher sensitivity to market movements than average.
Does WAT pay dividends?
Waters Corporation currently does not pay a regular dividend.
How far is WAT from its all-time high?
Waters Corporation is 4.0% below its all-time high of $454.49, reached in October 2026. Over the 10 years to the end of September 2026, with dividends reinvested, it returned +177.2%, against +312.9% for the S&P 500 (SPY).
Which ETFs hold WAT?
7 of the 30 popular ETFs we track hold Waters Corporation. The largest weights: XLV (0.68%), VUG (0.07%), VTV (0.07%), SPY (0.06%) and IVV (0.06%). Measured on each issuer's full holdings file, dated August 31 to September 24, 2026.
How much of VOO is WAT?
0.06%, as of August 31, 2026: WAT is holding #266 of 505 in Vanguard's file for VOO. $1,000 in VOO puts about $0.62 in Waters Corporation.
Which famous investors own WAT?
Terry Smith (6.25% of Fundsmith's 13F), according to their latest Form 13F filings with the SEC (Q2 2026). A 13F lists US long positions 45 days after the quarter ends, so it can be out of date.
What is the analyst price target for WAT?
The average analyst price target for Waters Corporation (WAT) is $453.26 based on 23 analyst estimates, about 3.9% above the current price of $436.43. The published range runs from $349.00 to $515.00.
How much revenue does WAT generate?
Waters Corporation reported $4.64B in trailing twelve-month revenue. Revenue growth is running at 113.4% year over year. Net margin sits at 3.6%. Figures are aggregated from company filings by Yahoo Finance and refresh on an hourly cadence.
Compare WAT with anything
Five years side by side: what $10,000 became, how far each fell, whether they move together.