Waters Corporation (WAT)
NYSEHealth CareDiagnostics & ResearchSnapshot 2026-07-07
$374.93-1.05%
Close 2026-07-07 · 1-day change
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Track WAT free→Waters Corporation grows revenue over 50% year on year, driven by acquisitions. The company raised full-year 2026 revenue guidance to about $6.42 billion. Adjusted EPS guidance is strong at about $14.5 per share. The acquisition of Becton, Dickinson assets adds $520 million revenue in Q1, boosting growth.
Growth may slow if integration of acquisitions falters. Profit margins could weaken if costs rise. The stock trades expensive with a PE of 27.6, risking valuation pressure if growth disappoints.
The price is about 13% above our fair value near $334 and 16% below the Street median target of $400. Analysts expect 53% revenue growth, which is reflected in the valuation. Our view aligns with this growth but is more conservative than the Street.
Breaks if: Adjusted EPS falls below $13.5 per share
Raise full-year 2026 adjusted EPS guidance to $14.40 to $14.60.
Stated in 2 of last 2 quarters. Adjusted EPS grew from $2.25 in 2025-Q1 to $2.70 in 2026-Q1. The company is raising its full-year 2026 EPS guidance, showing progress in achieving profitability targets.
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“The Company is raising its full-year 2026 adjusted EPS guidance to $14.40 to $14.60.”
“The Company is also raising its full-year 2026 adjusted EPS guidance to $14.40 to $14.60.”
Breaks if: BD asset revenue falls below $480 million in any quarter
Finalize the acquisition of Becton, Dickinson's Biosciences and Diagnostic Solutions businesses.
Stated in 2 of last 2 quarters. Biosciences and Diagnostic Solutions generated $520M in revenue in 2026-Q1. The acquisition of Becton, Dickinson assets is complete, contributing significantly to revenue.
“Waters Corporation announced its financial results for the first quarter of 2026, marking the first reporting period that includes financial results for the Biosciences and Diagnostic Solutions busin…”
“Waters Corporation, today announced its financial results for the first quarter of 2026, marking the first reporting period that includes financial results for the Biosciences and Diagnostic Solution…”
Breaks if: Full-year revenue falls below $6.0 billion
Raise full-year 2026 organic, constant currency revenue growth guidance to 6.5% to 8.0%.
Stated in 2 of last 2 quarters. Revenue grew from $661.7M in 2025-Q1 to $1.267B in 2026-Q1. The company is raising its full-year 2026 revenue guidance, indicating delivering on growth expectations.
“The Company is raising its full-year 2026 organic, constant currency revenue growth guidance to 6.5% to 8.0%.”
“The Company is raising its full-year 2026 organic, constant currency revenue growth guidance to the range of 6.5% to 8.0%.”