Waters (WAT) FCF Margin (2009 - 2026)
Waters (WAT) recorded quarterly FCF Margin of 3.31% in Q2 2026, down 124.61% quarter-over-quarter from 13.47% in Q4 2025, and down 3866.0% on a YoY basis from 0.09% in Q2 2025.
Waters (WAT) FCF Margin (2009 - 2026) Analysis & Trends
Waters' FCF Margin history runs 18 years deep, the most recent figure standing at 3.31% for Q2 2026.
- In Q2 2026, FCF Margin fell 3866.0% year-over-year to 3.31%; the TTM figure through Apr 2026 stood at 7.0% (down 1376.0% YoY), while the FY2025 annual figure was 17.05%, down 389.0% from the prior year.
- FCF Margin was 3.31% for Q2 2026 at Waters, down from 13.47% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 36.78% in Q1 2024 to a low of 3.31% in Q2 2026.
- Historically, FCF Margin has averaged 17.41% across 5 years, with a median of 18.53% in 2025.
- The sharpest annual moves came in 2024 and 2026: FCF Margin soared 735 bps in 2024, then plunged 3866 bps in 2026.
- A 5-year view of FCF Margin shows it stood at 15.9% in 2022, then soared by 45 bps to 23.01% in 2023, then declined by 6 bps to 21.55% in 2024, then tumbled by 37 bps to 13.47% in 2025, then tumbled by 125 bps to 3.31% in 2026.
- The last three FCF Margin figures came in at 3.31% (Q2 2026), 13.47% (Q4 2025), and 20.24% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Waters | 29,902.70 Bn | 29,902.24 Bn | 1.11 Bn | -3.31% |
| 2 | Thermo Fisher Scientific | 175.99 Bn | 172.74 Bn | 7.74 Bn | 7.41% |
| 3 | Danaher | 129.87 Bn | 124.18 Bn | 3.59 Bn | 18.23% |
| 4 | Idexx Laboratories | 44.75 Bn | 44.55 Bn | 722.74 Mn | 22.61% |
| 5 | Agilent Technologies | 37.52 Bn | 35.72 Bn | 990.00 Mn | 10.95% |
| 6 | Iqvia Holdings | 30.91 Bn | 28.94 Bn | 1.36 Bn | 11.83% |
| 7 | Natera | 30.21 Bn | 29.11 Bn | 696.04 Mn | 2.59% |
| 8 | Illumina | 24.19 Bn | 23.04 Bn | 721.00 Mn | 23.01% |
| 9 | Mettler Toledo International | 23.12 Bn | 23.06 Bn | 555.82 Mn | 12.92% |
| 10 | Quest Diagnostics | 21.68 Bn | 21.59 Bn | 942.00 Mn | 5.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 4, 2026 | -3.31% |
| Dec 31, 2025 | 13.47% |
| Sep 27, 2025 | 20.24% |
| Jun 28, 2025 | 2.38% |
| Mar 29, 2025 | 35.35% |
| Dec 31, 2024 | 21.55% |
| Sep 28, 2024 | 24.17% |
| Jun 29, 2024 | 2.60% |
| Mar 30, 2024 | 36.78% |
| Dec 31, 2023 | 23.01% |
| Sep 30, 2023 | 16.83% |
| Dec 31, 2022 | 15.90% |
| Dec 31, 2021 | 20.72% |
| Dec 31, 2020 | 28.02% |
| Sep 26, 2020 | 24.30% |
| Jun 27, 2020 | 29.41% |
| Mar 28, 2020 | 21.62% |
| Dec 31, 2019 | 19.30% |
| Sep 28, 2019 | 17.91% |
| Jun 29, 2019 | 14.60% |