Waters Corporation (WAT) valuation
Waters P/E ratio history
Waters trades at 115.4 times its earnings over the last twelve months and 29.7 times the earnings analysts expect over the next twelve. At its last 3 fiscal year ends its P/E ranged from 21.0 (year to Dec 2016) to 35.3 (year to Dec 2025), with a median of 34.6.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $379.83 | $10.76 | 35.3 | 27.2 |
| Dec 31, 2024 | $370.98 | $10.71 | 34.6 | 29.4 |
| Dec 31, 2023 | $329.23 | — | n/m | — |
| Dec 31, 2022 | $342.58 | — | n/m | — |
| Dec 31, 2021 | $372.60 | — | n/m | 31.6 |
| Dec 31, 2020 | $247.42 | — | n/m | — |
| Dec 31, 2019 | $233.65 | — | n/m | — |
| Dec 31, 2018 | $188.65 | — | n/m | — |
| Dec 31, 2017 | $193.19 | — | n/m | — |
| Dec 31, 2016 | $134.39 | $6.40 | 21.0 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Waters valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| WatersWAT | $45.4B | 115.4 | 29.7 | 9.8 |
| IQVIAIQV | $44.0B | 32.6 | 19.2 | 2.5 |
| Agilent TechnologiesA | $49.4B | 34.4 | 26.5 | 6.7 |
| Mettler ToledoMTD | $33.8B | 37.8 | 33.8 | 8.2 |
| Charles River LaboratoriesCRL | $17.3B | — | 29.8 | 4.3 |
| Bio-TechneTECH | $11.4B | 62.6 | 35.7 | 9.4 |
| Peer median | 36.1 | 29.8 | 6.7 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: WAT financials · WAT returns
No forecast, no recommendation. This page describes Waters Corporation from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.