Waters (WAT) EBITDA Margin (2009 - 2026)
Waters (WAT) recorded quarterly EBITDA Margin of 3.71% in Q2 2026, down 112.79% quarter-over-quarter from 29.01% in Q4 2025, and down 2667.0% on a YoY basis from 0.14% in Q2 2025.
Waters (WAT) EBITDA Margin (2009 - 2026) Analysis & Trends
Waters' EBITDA Margin history runs 18 years deep, the most recent figure standing at 3.71% for Q2 2026.
- In Q2 2026, EBITDA Margin fell 2667.0% year-over-year to 3.71%; the TTM figure through Apr 2026 stood at 16.01% (down 1229.0% YoY), while the FY2025 annual figure was 25.36%, down 258.0% from the prior year.
- EBITDA Margin was 3.71% for Q2 2026 at Waters, down from 29.01% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 33.49% in Q4 2024 to a low of 3.71% in Q2 2026.
- Historically, EBITDA Margin has averaged 25.47% across 5 years, with a median of 26.99% in 2023.
- The sharpest annual moves came in 2024 and 2026: EBITDA Margin soared 331 bps in 2024, then plunged 2667 bps in 2026.
- A 5-year view of EBITDA Margin shows it stood at 33.35% in 2022, then slipped by 3 bps to 32.24% in 2023, then rose by 4 bps to 33.49% in 2024, then slipped by 13 bps to 29.01% in 2025, then sank by 113 bps to 3.71% in 2026.
- The last three EBITDA Margin figures came in at 3.71% (Q2 2026), 29.01% (Q4 2025), and 24.02% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waters | 30,529.42 Bn | 30,528.96 Bn | 1.11 Bn | -3.71% |
| 2 | Thermo Fisher Scientific | 183.75 Bn | 180.50 Bn | 7.74 Bn | 16.93% |
| 3 | Danaher | 133.13 Bn | 127.43 Bn | 3.59 Bn | 22.58% |
| 4 | Idexx Laboratories | 46.14 Bn | 45.94 Bn | 722.74 Mn | 31.78% |
| 5 | Agilent Technologies | 38.20 Bn | 36.39 Bn | 990.00 Mn | 21.74% |
| 6 | Natera | 31.50 Bn | 30.40 Bn | 696.04 Mn | -12.21% |
| 7 | Iqvia Holdings | 31.34 Bn | 29.36 Bn | 1.36 Bn | 12.38% |
| 8 | Illumina | 24.51 Bn | 23.36 Bn | 721.00 Mn | 19.16% |
| 9 | Mettler Toledo International | 23.53 Bn | 23.47 Bn | 555.82 Mn | 19.42% |
| 10 | Quest Diagnostics | 22.51 Bn | 22.42 Bn | 942.00 Mn | 13.78% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 4, 2026 | -3.71% |
| Dec 31, 2025 | 29.01% |
| Sep 27, 2025 | 24.02% |
| Jun 28, 2025 | 24.40% |
| Mar 29, 2025 | 22.96% |
| Dec 31, 2024 | 33.49% |
| Sep 28, 2024 | 28.52% |
| Jun 29, 2024 | 26.69% |
| Mar 30, 2024 | 21.02% |
| Dec 31, 2023 | 32.24% |
| Sep 30, 2023 | 25.21% |
| Jun 30, 2023 | 26.99% |
| Mar 31, 2023 | 25.44% |
| Dec 31, 2022 | 33.35% |
| Sep 30, 2022 | 27.10% |
| Jun 30, 2022 | 27.95% |
| Mar 31, 2022 | 28.31% |
| Dec 31, 2021 | 31.35% |
| Sep 30, 2021 | 29.10% |
| Jun 30, 2021 | 28.82% |