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WATWaters Corporation

Health care · Lab Instruments · NYSE
WAT quote by TradingView
Headquarters
Milford, MA
Next results
around Feb 8, 2027
Compare with peers → Embed
All key numbers (39, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)3.95Sales (ttm)4.6BNet income (ttm)166.6MSales growth+7.0%EPS growth+0.5%Sales Q/Q+113%
Free cash flow398.8MGross margin59.3%Oper. margin7.1%Net margin3.6%FCF margin8.6%ROE1.1%
ROA0.7%R&D / sales6.2%Dividend-Debt/Eq0.33Curr. ratio1.86Cash539.0M
Op. cash flow (ttm)549.6MEBITDA890.7MEBITDA margin28.1%Net debt4.5BQuick ratio1.62Interest cover11.54
ROIC3.4%Tax rate14.9%Stock pay / sales1.7%Shares out.98.2MShares Y/Y+0.3%Book / share154.66
Cash / share5.49Sales / share47.27Asset turnover0.19Inventory turns2.25Days sales out.96Sales 3Y CAGR+2.1%
Sales 5Y CAGR+6.0%EPS 3Y CAGR-2.8%EPS 5Y CAGR+5.2%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth sped up to +7.0%+0.1% → +7.0% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin narrowed to 25.4%27.9% → 25.4% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

WAT against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
WATPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
+7.0%32nd of 60 · median +7.1%
Net margin
3.6%43rd of 60 · median 9.6%
Return on equity
1.1%50th of 54 · median 13.1%
Free cash flow margin
8.6%42nd of 56 · median 15.5%
Debt / equity (less is better)
0.3311th of 49 · median 0.66
WAT and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
WAT Waters Corporation$4.6B +7.0%59.3%3.6%1.1%8.6%0.33
DXCM Dexcom$5.1B +15.6%63.4%19.4%39.1%21.5%-
IDXX Idexx Laboratories$4.7B +10.4%62.7%25.4%63.2%28.0%0.20
ILMN Illumina, Inc.$4.5B -0.7%67.9%19.7%28.5%23.3%0.57
COO Cooper Companies$4.2B +5.1%65.9%13.5%6.8%16.0%0.31
MTD Mettler Toledo$4.2B +4.0%60.4%22.2%-20.7%-

From $2.8B of sales to $692.8M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $1.6BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $821.7MGross profit to Operating expenses: $807.6MOperating profit to Net profit: $692.8MOperating profit to Tax & other: $128.9MOperating expenses to R&D: $168.4MOperating expenses to SG&A: $639.3M Revenue: $2.8B Revenue$2.8B +18% Y/Y Gross profit: $1.6B · 58% margin Gross profit$1.6B58% margin Cost of revenue: $1.2B · 42% of revenue Cost of revenue$1.2B42% of revenue Operating profit: $821.7M · 29% margin Operating profit$821.7M29% margin +27% Y/Y Operating expenses: $807.6M · 29% of revenue Operating expenses$807.6M29% of revenue Net profit: $692.8M · 25% margin Net profit$692.8M25% margin +33% Y/Y Tax & other: $128.9M · 5% of revenue Tax & other$128.9M5% of revenue R&D: $168.4M · 6% of revenue R&D$168.4M6% of revenue SG&A: $639.3M · 23% of revenue SG&A$639.3M23% of revenue

Swipe sideways for the whole flow →

From $3.0B of sales to $707.8M of profit

FY2022, from the 10-K income statement and revenue by product
Waters Instrument Systems to Revenue: $1.2BWaters Service to Revenue: $890.6MTA Instrument Systems to Revenue: $252.3MTA Service to Revenue: $93.2MChemistry Consumables to Revenue: $525.4MRevenue to Gross profit: $1.7BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $873.4MGross profit to Operating expenses: $850.4MOperating profit to Net profit: $707.8MOperating profit to Tax & other: $165.6MOperating expenses to R&D: $176.2MOperating expenses to SG&A: $674.2M Waters Instrument Systems: $1.2B · 41% Waters Instrument Syste…$1.2B41% Waters Service: $890.6M · 30% Waters Service$890.6M30% TA Instrument Systems: $252.3M · 8% TA Instrument Systems$252.3M8% TA Service: $93.2M · 3% TA Service$93.2M3% Chemistry Consumables: $525.4M · 18% Chemistry Consumables$525.4M18% Revenue: $3.0B Revenue$3.0B +7% Y/Y Gross profit: $1.7B · 58% margin Gross profit$1.7B58% margin Cost of revenue: $1.2B · 42% of revenue Cost of revenue$1.2B42% of revenue Operating profit: $873.4M · 29% margin Operating profit$873.4M29% margin +6% Y/Y Operating expenses: $850.4M · 29% of revenue Operating expenses$850.4M29% of revenue Net profit: $707.8M · 24% margin Net profit$707.8M24% margin +2% Y/Y Tax & other: $165.6M · 6% of revenue Tax & other$165.6M6% of revenue R&D: $176.2M · 6% of revenue R&D$176.2M6% of revenue SG&A: $674.2M · 23% of revenue SG&A$674.2M23% of revenue

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From $3.0B of sales to $642.2M of profit

FY2023, from the 10-K income statement
Revenue to Gross profit: $1.8BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $817.7MGross profit to Operating expenses: $943.5MOperating profit to Net profit: $642.2MOperating profit to Tax & other: $175.4MOperating expenses to R&D: $174.9MOperating expenses to Sales, admin & other: $768.6M Revenue: $3.0B Revenue$3.0B −1% Y/Y Gross profit: $1.8B · 60% margin Gross profit$1.8B60% margin Cost of revenue: $1.2B · 40% of revenue Cost of revenue$1.2B40% of revenue Operating profit: $817.7M · 28% margin Operating profit$817.7M28% margin −6% Y/Y Operating expenses: $943.5M · 32% of revenue Operating expenses$943.5M32% of revenue Net profit: $642.2M · 22% margin Net profit$642.2M22% margin −9% Y/Y Tax & other: $175.4M · 6% of revenue Tax & other$175.4M6% of revenue R&D: $174.9M · 6% of revenue R&D$174.9M6% of revenue Sales, admin & other: $768.6M · 26% of revenue Sales, admin & other$768.6M26% of revenue

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From $3.0B of sales to $637.8M of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $1.8BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $826.4MGross profit to Operating expenses: $931.8MOperating profit to Net profit: $637.8MOperating profit to Tax & other: $188.5MOperating expenses to R&D: $183.0MOperating expenses to Sales, admin & other: $748.8M Revenue: $3.0B Revenue$3.0B +0% Y/Y Gross profit: $1.8B · 59% margin Gross profit$1.8B59% margin Cost of revenue: $1.2B · 41% of revenue Cost of revenue$1.2B41% of revenue Operating profit: $826.4M · 28% margin Operating profit$826.4M28% margin +1% Y/Y Operating expenses: $931.8M · 31% of revenue Operating expenses$931.8M31% of revenue Net profit: $637.8M · 22% margin Net profit$637.8M22% margin −1% Y/Y Tax & other: $188.5M · 6% of revenue Tax & other$188.5M6% of revenue R&D: $183.0M · 6% of revenue R&D$183.0M6% of revenue Sales, admin & other: $748.8M · 25% of revenue Sales, admin & other$748.8M25% of revenue

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From $3.2B of sales to $642.6M of profit

FY2025, from the 10-K income statement and revenue by product
Waters Instrument Systems to Revenue: $1.1BWaters Service to Revenue: $1.1BChemistry consumables to Revenue: $631.5MTA Instrument Systems to Revenue: $243.8MTA Service to Revenue: $108.0MRevenue to Gross profit: $1.9BRevenue to Cost of revenue: $1.3BGross profit to Operating profit: $802.6MGross profit to Operating expenses: $1.1BOperating profit to Net profit: $642.6MOperating profit to Tax & other: $160.0MOperating expenses to R&D: $195.7MOperating expenses to Sales, admin & other: $878.2M Waters Instrument Systems: $1.1B · 35% Waters Instrument Syste…$1.1B35% Waters Service: $1.1B · 34% Waters Service$1.1B34% Chemistry consumables: $631.5M · 20% Chemistry consumables$631.5M20% TA Instrument Systems: $243.8M · 8% TA Instrument Systems$243.8M8% TA Service: $108.0M · 3% TA Service$108.0M3% Revenue: $3.2B Revenue$3.2B +7% Y/Y Gross profit: $1.9B · 59% margin Gross profit$1.9B59% margin Cost of revenue: $1.3B · 41% of revenue Cost of revenue$1.3B41% of revenue Operating profit: $802.6M · 25% margin Operating profit$802.6M25% margin −3% Y/Y Operating expenses: $1.1B · 34% of revenue Operating expenses$1.1B34% of revenue Net profit: $642.6M · 20% margin Net profit$642.6M20% margin +1% Y/Y Tax & other: $160.0M · 5% of revenue Tax & other$160.0M5% of revenue R&D: $195.7M · 6% of revenue R&D$195.7M6% of revenue Sales, admin & other: $878.2M · 28% of revenue Sales, admin & other$878.2M28% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 3
  • !
    Net margin below the peer median3.6% vs 9.6%
  • !
    Return on equity below 15%1.1%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 24.1% → 20.3%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 11.5× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.33 on the latest balance sheet (peer median 0.66)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.86
  • !
    Net debt over 3 years of free cash flow$4.5B net debt, 11.4 years
Debt / equity at each year end, FY2016 to FY2025: 0.85 → 0.55
What the debt is made of ↓

Cash and shareholders

3 of 3
  • ✓
    Free cash flow positive in every one of 3 years$539.8M last year
  • ✓
    Share count down over 5 years−4.3%
  • ✓
    Cash from operations above net income$652.6M vs $642.6M
Free cash flow, FY2016 to FY2025: 442.2M → 539.8M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Jul 4, 2026 · schedule of Dec 31, 2025
Debt: $5.1B Debt$5.1B Long-term debt: $4.9B · 96% Long-term debt$4.9B · 96% Due within a year: $200.0M · 4% Due within a year$200.0M · 4% Next 12 months: $460.0M · 9% Next 12 months$460.0M · 9% Year 3: $50.0M · 1% Year 3$50.0M · 1% Year 4: $300.0M · 6% Year 4$300.0M · 6% Year 5: $200.0M · 4% Year 5$200.0M · 4% After year 5: $400.0M · 8% After year 5$400.0M · 8%

The debt note's own lines, 2025-12-31

Fixed rate $1.3BFloating $100.0M Not stated $3.1B

Line, as the company names itKindRateFixed or floatingAmount
Fixed Interest Rate (Unsecured Debt)Secured–fixed$1.3B
Senior Unsecured NotesSecured–not stated$1.3B
Unsecured DebtSecured–not stated$1.3B
Senior Unsecured Notes Series OSecured2.25%not stated$400.0M
2021 Credit FacilityBank loans–floating$100.0M
Senior Unsecured Notes Series PSecured4.91%not stated$50.0M
Senior Unsecured Notes Series QSecured4.91%not stated$50.0M

From the debt note in the 10-K's XBRL (0001193125-26-062604), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 3.2B Net income 642.6M
FY2016 revenue 2.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-19-060858 FY2016 net income 521.5M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-19-060858 2.2B FY2016 FY2017 revenue 2.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-20-048303 FY2017 net income 20.3M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-20-048303 2.3B FY2017 FY2018 revenue 2.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-21-054385 FY2018 net income 593.8M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-21-054385 2.4B FY2018 FY2019 revenue 2.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-22-051509 FY2019 net income 592.2M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-22-051509 2.4B FY2019 FY2020 revenue 2.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-23-050827 FY2020 net income 521.6M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-23-050827 2.4B FY2020 FY2021 revenue 2.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-24-047491 FY2021 net income 692.8M · NetIncomeLossAvailableToCommonStockholdersBasic, 0001193125-24-047491 2.8B FY2021 FY2022 revenue 3.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-25-034579 FY2022 net income 707.8M · NetIncomeLoss, 0001193125-25-034579 3.0B FY2022 FY2023 revenue 3.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-062604 FY2023 net income 642.2M · NetIncomeLoss, 0001193125-26-062604 3.0B FY2023 FY2024 revenue 3.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-062604 FY2024 net income 637.8M · NetIncomeLoss, 0001193125-26-062604 3.0B FY2024 FY2025 revenue 3.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-26-062604 FY2025 net income 642.6M · NetIncomeLoss, 0001193125-26-062604 3.2B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

WAT's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue3.2B
FY2016: 2.2BFY2017: 2.3BFY2018: 2.4BFY2019: 2.4BFY2020: 2.4BFY2021: 2.8BFY2022: 3.0BFY2023: 3.0BFY2024: 3.0BFY2025: 3.2B FY2017FY2019FY2021FY2023FY2025
Net income642.6M
FY2016: 521.5MFY2017: 20.3MFY2018: 593.8MFY2019: 592.2MFY2020: 521.6MFY2021: 692.8MFY2022: 707.8MFY2023: 642.2MFY2024: 637.8MFY2025: 642.6M FY2017FY2019FY2021FY2023FY2025
Free cash flow539.8M
FY2016: -FY2017: -FY2018: -FY2019: -FY2020: -FY2021: -FY2022: -FY2023: 442.2MFY2024: 619.6MFY2025: 539.8M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)10.76
FY2016: 6.41FY2017: 0.25FY2018: 7.65FY2019: 8.69FY2020: 8.36FY2021: 11.17FY2022: 11.73FY2023: 10.84FY2024: 10.71FY2025: 10.76 FY2017FY2019FY2021FY2023FY2025
Diluted shares59.7M
FY2016: 81.4MFY2017: 80.6MFY2018: 77.6MFY2019: 68.2MFY2020: 62.4MFY2021: 62.0MFY2022: 60.3MFY2023: 59.3MFY2024: 59.6MFY2025: 59.7M FY2017FY2019FY2021FY2023FY2025

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Waters Instrument Systems 1.1B34.8% +6.7%
Waters Service 1.1B34.1% +7.3%
Chemistry consumables 631.5M19.9% +11.7%
TA Instrument Systems 243.8M7.7% -1.0%
TA Service 108.0M3.4% +0.2%

10-K 0001193125-26-062604, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
Total Americas 1.2B36.7% +4.1%
Asia 1.0B32.9% +7.3%
United States 965.8M30.5% +3.4%
Europe 963.4M30.4% +10.3%
Asia Other 602.9M19.0% +5.3%
China 437.5M13.8% +10.3%
Americas Other 195.7M6.2% +7.6%

10-K 0001193125-26-062604, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue2.2B2.3B2.4B2.4B2.4B2.8B3.0B3.0B3.0B3.2B
Cost of revenue891.5M947.1M992.6M1.0B1.0B1.2B1.2B1.2B1.2B1.3B
R&D125.2M132.6M143.4M143.0M140.8M168.4M176.2M174.9M183.0M195.7M
SG&A512.3M544.4M536.9M534.8M553.7M627.0M658.0M736.0M690.1M830.4M
Operating income625.0M662.2M739.8M708.5M645.5M821.7M873.4M817.7M826.4M802.6M
Interest expense44.9M56.8M48.6M48.7M49.1M44.9M48.8M98.9M89.7M69.5M
Pretax income600.1M641.1M682.1M678.2M610.9M806.2M837.8M736.2M754.9M754.9M
Income tax78.6M620.8M88.4M86.0M89.3M113.3M130.1M94.0M117.0M112.2M
Net income521.5M20.3M593.8M592.2M521.6M692.8M707.8M642.2M637.8M642.6M
EPS (diluted)6.410.257.658.698.3611.1711.7310.8410.7110.76
Diluted shares81.4M80.6M77.6M68.2M62.4M62.0M60.3M59.3M59.6M59.7M
Depreciation & amortization51.7M61.5M58.0M53.8M68.7M71.6M72.0M84.6M87.0M88.1M
EBITDA676.7M723.6M797.7M762.3M714.2M893.3M945.4M902.3M913.4M890.7M
Operating margin28.8%28.7%30.6%29.4%27.3%29.5%29.4%27.7%27.9%25.4%
Net margin24.1%0.9%24.5%24.6%22.1%24.9%23.8%21.7%21.6%20.3%
Revenue growth-+6.5%+4.8%-0.6%-1.7%+17.8%+6.7%-0.5%+0.1%+7.0%
EPS growth--96.1%+2960%+13.6%-3.8%+33.6%+5.0%-7.6%-1.2%+0.5%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash505.6M642.3M796.3M335.7M436.7M501.2M480.5M395.1M325.4M588.0M
Short-term investments2.3B2.8B938.9M1.4M6.5M68.1M862K898K934K-
Receivables489.3M533.8M568.3M587.7M573.3M612.6M722.9M702.2M733.4M829.0M
Inventory262.7M270.3M291.6M320.6M304.3M356.1M455.7M516.2M477.3M572.0M
Current assets3.6B4.3B2.7B1.3B1.4B1.6B1.8B1.8B1.7B2.1B
Property & equipment337.1M349.3M343.1M417.3M494.0M547.9M582.2M639.1M651.2M642.0M
Goodwill352.1M359.8M355.6M356.1M444.4M437.9M430.3M1.3B1.3B1.3B
Total assets4.7B5.3B3.7B2.6B2.8B3.1B3.3B4.6B4.6B5.1B
Accounts payable67.7M64.5M68.2M49.0M72.2M96.8M93.3M84.7M99.9M104.0M
Current liabilities520.3M606.2M448.9M591.3M805.0M680.5M785.7M789.6M789.8M1.2B
Total debt2.0B2.0B1.1B1.7B1.4B1.5B1.6B2.4B1.6B1.4B
Total liabilities2.4B3.1B2.2B2.8B2.6B2.7B2.8B3.5B2.7B2.5B
Shareholders' equity2.3B2.2B1.6B-216.3M232.1M367.6M504.5M1.2B1.8B2.6B
Retained earnings5.4B5.4B6.0B6.6B7.1B7.8B8.5B9.2B9.8B10.4B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow642.9M697.6M604.4M643.1M790.5M747.3M611.7M602.8M762.1M652.6M
Capital spending-------160.6M142.5M112.7M
Free cash flow-------442.2M619.6M539.8M
Stock-based pay (added back)41.0M39.4M37.5M38.6M36.9M29.9M42.6M36.9M44.7M54.1M
Buybacks325.8M332.5M1.3B2.5B196.4M648.9M626.1M70.3M13.5M14.7M
Acquisitions5.6M-31.5M080.5M001.3B035.1M
Debt raised485.3M1.5B274K925.7M315.0M510.0M205.0M1.5B170.0M70.0M
Debt repaid325.3M1.3B850.4M390.5M640.4M350.0M145.0M670.0M900.0M290.0M
Investing cash flow-487.9M-535.8M1.7B768.8M-264.1M-231.6M-108.0M-1.4B-143.1M-152.3M
Financing cash flow-115.7M-63.9M-2.1B-1.9B-440.5M-438.3M-509.6M755.0M-696.7M-237.2M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)41.0M39.4M37.5M38.6M36.9M29.9M42.6M36.9M44.7M54.1M
Stock-based pay / revenue1.9%1.7%1.6%1.6%1.6%1.1%1.4%1.2%1.5%1.7%
Operating lease cost----38.0M34.0M36.0M38.0M39.0M41.0M
Operating lease cash paid---36.0M38.0M34.0M36.0M38.0M39.0M41.0M
Right-of-use assets--100.0M93.4M93.3M84.7M86.5M84.6M74.2M81.0M
Operating lease liabilities--100.0M94.0M96.0M87.5M88.5M86.8M75.9M84.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on WAT in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/WAT/export.csv") into a cell.