Waters Corporation
Waters Corporation (WAT) designs and manufactures laboratory analytical instruments — notably high-performance liquid chromatography and mass spectrometry systems — used to separate, identify and quantify chemical compounds. Its products, consumables and services serve pharmaceutical, biotech, chemical, food-safety and environmental laboratories worldwide. Revenue typically comprises capital equipment sales and recurring aftermarket consumables and service contracts, which can provide resilient cash flow but remain sensitive to capital spending cycles. Waters benefits from a strong installed base, long product lifecycles and regulatory-driven demand in drug development and quality control. Key considerations for investors include exposure to global pharmaceutical investment, competition from other instrument makers, currency and supply-chain risks, and the ongoing need for R&D. Market cap: $20.79B. This is general information for education, not personalised advice; values can rise or fall and past performance is not a guide.
Why It's Moving
Waters Crushes Q3 Expectations and Lifts Full-Year Guidance, Fueling Investor Optimism
Waters Corporation reported blockbuster Q3 2025 results, with sales hitting $800 million—up 8% and beating guidance—thanks to robust pharma demand and hot new LC-MS products. The company raised its full-year sales growth outlook to 6.7%-7.3% constant currency and non-GAAP EPS to $13.05-$13.15, signaling confidence amid biologics boom and instrument upgrades.
- Pharma segment surged double-digits as instrument replacement cycle hits year two, capturing biologics and novel modality opportunities.
- Q3 GAAP EPS landed at $2.50; Q4 guidance projects 5%-7% sales growth and $4.45-$4.55 non-GAAP EPS, up 9%-11% YoY.
- Wells Fargo hiked price target to $415 from $385, maintaining Equal-Weight amid string of analyst upgrades.
Waters Crushes Q3 Expectations and Lifts Full-Year Guidance, Fueling Investor Optimism
Waters Corporation reported blockbuster Q3 2025 results, with sales hitting $800 million—up 8% and beating guidance—thanks to robust pharma demand and hot new LC-MS products. The company raised its full-year sales growth outlook to 6.7%-7.3% constant currency and non-GAAP EPS to $13.05-$13.15, signaling confidence amid biologics boom and instrument upgrades.
- Pharma segment surged double-digits as instrument replacement cycle hits year two, capturing biologics and novel modality opportunities.
- Q3 GAAP EPS landed at $2.50; Q4 guidance projects 5%-7% sales growth and $4.45-$4.55 non-GAAP EPS, up 9%-11% YoY.
- Wells Fargo hiked price target to $415 from $385, maintaining Equal-Weight amid string of analyst upgrades.
Stock Performance Snapshot
Analyst Rating
Analysts recommend buying Waters Corporation's stock with a target price of $372.85, indicating growth potential.
Financial Health
Waters Corporation is performing well with strong revenue, profits, and cash flow generation.
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Explore BasketWhy You’ll Want to Watch This Stock
Aftermarket Revenue Strength
Consumables and service contracts create steady recurring income that can stabilise revenue, though instrument orders remain cyclical and can vary.
Pharma & Regulation Demand
Demand from drug development and regulatory testing supports long-term need for high-end instruments, but exposure to regulatory cycles and geographic shifts adds variability.
Innovation & Competition
Continued R&D keeps the product line competitive in high-precision analytics, yet heavy R&D spend and rival technologies present execution risks.
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