Waters Corporation Income Statement
WAT / Health Care|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
Waters Corporation reported $3.2B in revenue and $643M in net income for FY2025. Revenue has grown at a 5.5% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 3.41 (safe zone, above 2.9 threshold)
- Strong profit margin: 21.6%
- Strong return on equity: 34.9%
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B | $3.0B | $3.0B | $3.0B | $2.8B | $2.4B | $2.4B | $2.4B | $2.3B | $2.2B | $2.0B | $2.0B | $1.9B | $1.6B | $1.5B |
| Cost of Revenue | $1.3B | $1.2B | $1.2B | $1.2B | $1.2B | $1.0B | $1.0B | $992.6M | $211.1M | $891.5M | $842.7M | $824.9M | $730.5M | $653.3M | $594.9M |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | $271.2M | $1.2B | $1.1B | $990.1M | $903.8M |
| SG&A Expense | $830.4M | $690.1M | $736.0M | $658.0M | $627.0M | $553.7M | $534.8M | $536.9M | $544.4M | $512.3M | $495.7M | $512.7M | $490.0M | $445.5M | $421.4M |
| R&D Expense | $195.7M | $183.0M | $174.9M | $176.2M | $168.4M | $140.8M | $143.0M | $143.4M | $132.6M | $125.2M | $118.5M | $107.7M | $92.3M | $84.3M | $77.2M |
| Operating Income | $802.6M | $826.4M | $817.7M | $873.4M | $821.7M | $645.5M | $708.5M | $739.8M | $662.2M | $625.0M | $567.5M | $517.9M | $528.6M | $449.9M | $394.6M |
| Interest Expense | $69.5M | $89.7M | $98.9M | $48.8M | $44.9M | $49.1M | $48.7M | $48.6M | $56.8M | $44.9M | $36.2M | $34.2M | $22.0M | $13.9M | $11.0M |
| Income Tax | $112.2M | $117.0M | $94.0M | $130.1M | $113.3M | $89.3M | $86.0M | $88.4M | $620.8M | $78.6M | $72.9M | $59.1M | $76.3M | $56.1M | $63.3M |
| Net Income | $642.6M | $637.8M | $642.2M | $707.8M | $692.8M | $521.6M | $592.2M | $593.8M | $20.3M | $521.5M | - | - | - | - | - |
| EPS (Basic) | $10.87 | $11.80 | $11.25 | $8.40 | $8.76 | $7.71 | $0.25 | $6.46 | $5.70 | $5.12 | $5.27 | - | - | - | - |
| EPS (Diluted) | $10.84 | $11.73 | $11.17 | $8.36 | $8.69 | $7.65 | $0.25 | $6.41 | $5.65 | $5.07 | $5.20 | - | - | - | - |
| Shares Outstanding | 59.4M | 59.2K | 59.1M | 60.7M | 62.3M | 62.6M | 73.1M | 79.3M | 80.0M | 81.5M | 83.1M | 84.8M | 86.4M | 89.0M | 91.8M |
| Gross Margin | - | - | - | - | - | - | - | - | - | - | 13.3% | 58.5% | 60.5% | 60.3% | 60.3% |
| Operating Margin | 25.4% | 27.9% | 27.7% | 29.4% | 29.5% | 27.3% | 29.4% | 30.6% | 28.7% | 28.8% | 27.8% | 26.0% | 28.5% | 27.4% | 26.3% |
| Profit Margin | 20.3% | 21.6% | 21.7% | 23.8% | 24.9% | 22.1% | 24.6% | 24.5% | 0.9% | 24.1% | - | - | - | - | - |