Waters (WAT) EBITDA Margin (2009 - 2026)
Waters (WAT) posted quarterly EBITDA Margin of 3.71% for Q2 2026, down 2667.0% year-over-year from 0.14% in Q2 2025, and down 112.79% on a QoQ basis from 29.01% in Q4 2025.
Waters (WAT) EBITDA Margin (2009 - 2026) Analysis & Trends
Waters (WAT) has reported EBITDA Margin for 18 consecutive years, with 3.71% the latest figure, recorded in 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 came in at 3.71% for Q2 2026 at Waters, down from 29.01% in the prior quarter.
- The five-year high for EBITDA Margin was 33.49% in Q4 2024, with the low at 3.71% in Q2 2026.
- Average EBITDA Margin over 5 years is 25.47%, with a median of 26.99% recorded in 2023.
- Across the five-year window, EBITDA Margin soared 331 bps in 2024 and sank 2667 bps in 2026, its largest moves.
- Year by year, EBITDA Margin stood at 33.35% in 2022, then fell by 3 bps to 32.24% in 2023, then climbed by 4 bps to 33.49% in 2024, then fell by 13 bps to 29.01% in 2025, then slumped by 113 bps to 3.71% in 2026.
- According to Business Quant data, EBITDA Margin over the past three periods registered 3.71%, 29.01%, and 24.02% for Q2 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waters | 31,055.11 Bn | 31,054.65 Bn | 1.11 Bn | -3.71% |
| 2 | Thermo Fisher Scientific | 191.02 Bn | 187.77 Bn | 7.74 Bn | 16.93% |
| 3 | Danaher | 137.16 Bn | 131.47 Bn | 3.59 Bn | 22.58% |
| 4 | Idexx Laboratories | 42.82 Bn | 42.62 Bn | 722.74 Mn | 31.78% |
| 5 | Natera | 39.09 Bn | 37.99 Bn | 696.04 Mn | -12.21% |
| 6 | Agilent Technologies | 37.61 Bn | 35.81 Bn | 990.00 Mn | 21.74% |
| 7 | Iqvia Holdings | 34.23 Bn | 32.25 Bn | 1.36 Bn | 12.38% |
| 8 | Illumina | 28.14 Bn | 26.98 Bn | 721.00 Mn | 19.16% |
| 9 | Mettler Toledo International | 26.40 Bn | 26.33 Bn | 555.82 Mn | 19.42% |
| 10 | Quest Diagnostics | 23.76 Bn | 23.67 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% |