Waters 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. In early 2026, Waters merged with BD's life science and diagnostics business, which increased its concentration in diagnostics (versus none now) and discovery-related life science tools.
The chart shows the growth of an initial investment of $10,000 in Waters Corp, comparing it to the performance of the S&P 500 index. All prices have been adjusted for splits and dividends.
Returns By Period
Waters Corp (WAT) has returned -19.76% so far this year and -5.71% over the past 12 months. Looking at the last ten years, WAT has achieved an annualized return of 8.60%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
WAT
1M-3.38%
6M-7.10%
YTD-19.76%
1Y-5.71%
5Y-0.19%
10Y8.60%
Benchmark (SPY)
1M-3.85%
6M-2.35%
YTD-4.36%
1Y34.06%
5Y9.80%
10Y12.23%
Monthly Returns
The table below presents the monthly returns of Waters Corp (WAT) with color gradation from worst to best to easily spot seasonal factors.
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
-2.22%
-13.27%
-4.89%
0.77%
2025
11.37%
-7.45%
-2.70%
-5.35%
1.54%
0.98%
-16.98%
5.47%
0.16%
16.28%
16.74%
-5.58%
2024
-3.01%
5.72%
2.20%
-10.46%
-0.27%
-5.74%
15.19%
1.78%
5.03%
-10.27%
2.59%
-3.21%
2023
-4.76%
-5.78%
0.30%
-2.31%
-16.96%
5.41%
3.65%
1.96%
-3.58%
-12.74%
18.24%
17.69%
2022
-14.00%
-4.74%
-1.79%
-2.94%
8.89%
0.42%
9.72%
-17.60%
-9.84%
10.00%
14.07%
-1.95%
2021
6.98%
2.75%
3.02%
5.38%
6.61%
6.99%
12.66%
5.92%
-13.44%
2.44%
-10.78%
13.29%
2020
-4.74%
-14.20%
-6.77%
5.90%
8.38%
-9.54%
18.11%
0.97%
-9.56%
12.96%
3.06%
5.31%
2019
24.26%
4.58%
2.98%
-15.70%
-5.84%
7.07%
-3.68%
0.32%
6.09%
-5.71%
3.85%
5.03%
2018
11.07%
-4.45%
-3.01%
-5.23%
2.26%
-0.27%
2.61%
-3.52%
3.32%
-3.10%
4.46%
-5.49%
2017
4.89%
9.12%
0.12%
8.63%
4.75%
1.82%
-6.24%
5.51%
-2.25%
9.09%
-0.07%
-2.16%
2016
-0.57%
5.10%
2.60%
13.05%
-1.00%
0.68%
-11.57%
-3.29%
-0.04%
Performance Indicators
The charts below present risk-adjusted performance metrics for Waters Corp (WAT) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
Sharpe ratio
Sortino ratio
Omega ratio
Calmar ratio
Martin ratio
sharpe ratio
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of WAT compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
Volatility Chart
The current Waters Corp volatility is 1.95%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses. Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
Income Statement
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2012
2011
Liabilities And Equity (USD)
5.08B
4.55B
4.63B
3.28B
3.09B
2.84B
2.56B
3.73B
5.32B
4.66B
4.27B
3.88B
3.17B
2.72B
Equity Attributable To Parent (USD)
2.56B
1.83B
1.15B
504.49M
367.55M
232.14M
-216.28M
1.57B
2.23B
2.30B
2.06B
1.89B
1.47B
1.23B
Equity Attributable To Noncontrolling Interest (USD)
Becton Dickinson reported Q1 2026 adjusted earnings of $2.91 per share, beating consensus of $2.81, with sales of $5.25 billion slightly above the $5.15 billion consensus. However, the company significantly lowered its fiscal 2026 adjusted earnings guidance to $12.35-$12.65 per share from $14.75-$15.05, citing transition year headwinds in China, vaccines, and Alaris. Multiple analysts cut price targets, with RBC reducing its forecast from $210 to $172, Wells Fargo from $184 to $157, and Piper Sandler from $205 to $170. BDX shares fell 17.44% to $171.23.
Benzinga•Vandana Singh
AI Insight
Waters is mentioned in context of the planned combination with the separated Biosciences and Diagnostic Solutions businesses from Becton Dickinson, but no specific performance data or analyst commentary about Waters itself is provided in the article.
Software stocks extended their rebound with the iShares Expanded Tech-Software Sector ETF jumping over 3%, while the Nasdaq 100 climbed 1% and S&P 500 added 0.7%. Silver led commodities with a 6% rally to $82, while oil jumped 2% and gold rallied 2.5%. Notable gainers included AppLovin Corp surging 14%, Oracle rising 11%, and Palantir Technologies up 7%. Crypto markets lagged with Bitcoin slipping 0.4% to $70,000.
Waters Corporation reported Q4 2025 earnings that beat expectations with $932.36M in sales (7% growth) and $4.53 EPS versus consensus of $4.51. However, the stock fell 9.61% on Monday due to weaker-than-expected Q1 2026 guidance of $2.25-$2.35 EPS (vs. consensus $2.52) and conservative full-year 2026 outlook, despite management's optimism about momentum continuing into 2026.
Benzinga•Vandana Singh
AI Insight
Despite beating Q4 earnings expectations and receiving positive analyst commentary from William Blair about leadership position and replacement cycle tailwinds, the stock declined 9.61% due to Q1 2026 guidance of $2.25-$2.35 EPS falling significantly short of the $2.52 consensus estimate, signaling investor disappointment with near-term outlook despite full-year 2026 guidance meeting expectations.
Becton Dickinson reported Q1 2026 adjusted earnings of $2.91 per share, beating consensus of $2.81, with sales of $5.25 billion slightly above expectations. However, the company significantly lowered its fiscal 2026 adjusted earnings guidance from $14.75-$15.05 per share to $12.35-$12.65 per share, well below the consensus of $14.72. The guidance cut follows the company's spinoff and combination of its Biosciences and Diagnostic Solutions business with Waters Corporation.
Benzinga•Vandana Singh
AI Insight
Waters is combining with BD's Biosciences and Diagnostic Solutions business in a transaction expected to close on the day of this article. While the combination represents a strategic milestone, the article provides limited information about Waters' standalone performance or the expected impact of the merger.
The global chromatography market is projected to grow from USD 10.03 billion in 2025 to USD 13.69 billion by 2031 at a CAGR of 5.32%, driven by expanding R&D in pharma/biotech and strict food safety regulations. However, high capital costs limit adoption among smaller entities. Emerging trends include green chromatography and AI-powered method optimization.
GlobeNewswire Inc.•Researchandmarkets.Com
AI Insight
Demonstrated commitment to sustainable practices with 36% reduction in greenhouse gas emissions and is actively developing environmentally-friendly chromatography systems, aligning with the growing green chromatography trend.
Agilent Technologies delivered strong Q4 FY2025 results with $1.86B revenue (9.4% reported growth, 7.2% core growth) and $1.59 non-GAAP EPS, marking the sixth consecutive quarter of sequential core growth acceleration. The company's diversified portfolio spanning chromatography, mass spectrometry, and lab automation, combined with its high-margin CrossLab services business, provides structural resilience during industry downturns. Trading at 23.7x EV/EBITDA with a modest P/E premium to historical averages, Agilent's valuation reflects strong execution, pricing power, and efficient capital allocation through buybacks and strategic acquisitions like BioVectra.
Investing.com•Gurufocus
AI Insight
Referenced as a peer with narrower product focus (primarily HPLC/LCMS). Trades at 22.0x EV/EBITDA and experienced sharper declines during downturns (~8% organic sales decline in Q4 2023), highlighting Agilent's relative resilience and diversification advantages.
William Blair initiated Outperform coverage on Waters Corporation following its merger with Becton Dickinson's Biosciences & Diagnostic Solutions business. The analyst sees greater synergy upside than initially priced in, with EPS accretion of ~$0.10 in 2026 rising to ~$2.70 by 2028. William Blair projects roughly 20% upside by year-end 2026 and believes the $345 million EBITDA synergy target is conservative based on comparable large M&A deals in life sciences.
Benzinga•Vandana Singh
AI Insight
Analyst initiated Outperform rating with 20% upside target by year-end 2026. Strong strategic fit with merger partner, significant EPS accretion expected, and analyst believes synergy targets are conservative based on comparable deals.
The article highlights two investment opportunities in the pharmaceutical and medical device sectors that could benefit from AI-driven drug development: Becton Dickinson (BDX) and the BlackRock Health Sciences Fund (BME), both currently undervalued and offering attractive dividend yields.
Investing.com•Brett Owens
AI Insight
Mentioned as a merger partner with Becton Dickinson, expected to expand market size and growth potential
Fenimore Asset Management completely sold its entire 243,780 shares of Waters Corporation, valued at $85.09 million, representing a full exit from the position during Q3 2025. The sale reflects a strategic portfolio shift amid challenging market conditions for laboratory instrumentation stocks.
The Motley Fool•Adam Palasciano
AI Insight
Stock is down 6.9% YTD, experiencing reduced spending in life sciences and industrial sectors, leading to a complete divestment by Fenimore Asset Management
Healthcare merger and acquisition activity rose 7% in Q3 2025, with 532 deals announced. Physician Medical Groups led with 130 deals, while total deal value reached $63.8 billion, a 111% increase from the previous quarter.
Benzinga•Globe Newswire
AI Insight
Executed a large $17.5 billion acquisition of BD's Biosciences & Diagnostic Solutions business
