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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Waters (WAT) Net Margin (2016 - 2025)

Waters has reported Net Margin over the past 16 years, most recently at 24.16% for Q4 2025.

  • Quarterly results put Net Margin at 24.16% for Q4 2025, down 236.0% from a year ago — trailing twelve months through Dec 2025 was 20.3% (down 126.0% YoY), and the annual figure for FY2025 was 20.3%, down 126.0%.
  • Net Margin for Q4 2025 was 24.16% at Waters, up from 18.62% in the prior quarter.
  • Over the last five years, Net Margin for WAT hit a ceiling of 26.51% in Q4 2024 and a floor of 16.05% in Q1 2024.
  • Median Net Margin over the past 5 years was 22.55% (2022), compared with a mean of 22.24%.
  • Biggest five-year swings in Net Margin: skyrocketed 1282bps in 2021 and later tumbled -454bps in 2024.
  • Waters' Net Margin stood at 25.85% in 2021, then increased by 2bps to 26.45% in 2022, then dropped by 0bps to 26.38% in 2023, then increased by 0bps to 26.51% in 2024, then decreased by -9bps to 24.16% in 2025.
  • The last three reported values for Net Margin were 24.16% (Q4 2025), 18.62% (Q3 2025), and 19.07% (Q2 2025) per Business Quant data.