Waters (WAT) Operating Expenses (2009 - 2026)

Waters (WAT) posted quarterly Operating Expenses of $1.3 billion for Q2 2026, up 157.65% year-over-year from $510.0 million in Q2 2025, and up 98.54% on a QoQ basis from $661.8 million in Q4 2025.

Waters (WAT) Operating Expenses (2009 - 2026) Analysis & Trends

Waters (WAT) has reported Operating Expenses for 18 consecutive years, with $1.3 billion the latest figure, recorded in Q2 2026.

  • In Q2 2026, Operating Expenses rose 157.65% year-over-year to $1.3 billion; the TTM figure through Apr 2026 stood at $3.2 billion (up 48.04% YoY), while the FY2025 annual figure was $2.4 billion, up 10.82% from the prior year.
  • Operating Expenses came in at $1.3 billion for Q2 2026 at Waters, up from $661.8 million in the prior quarter.
  • The five-year high for Operating Expenses was $1.3 billion in Q2 2026, with the low at $495.1 million in Q1 2022.
  • Average Operating Expenses over 5 years is $590.9 million, with a median of $532.3 million recorded in 2023.
  • Across the five-year window, Operating Expenses dropped 3.94% in 2024 and jumped 157.65% in 2026, its largest moves.
  • Year by year, Operating Expenses stood at $572.2 million in 2022, then declined by 2.97% to $555.3 million in 2023, then climbed by 4.54% to $580.5 million in 2024, then grew by 14.02% to $661.8 million in 2025, then soared by 98.54% to $1.3 billion in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $1.3 billion, $661.8 million, and $607.8 million for Q2 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Waters 31,055.11 Bn 31,054.65 Bn 1.11 Bn 1.31 Bn
2 Thermo Fisher Scientific 191.02 Bn 187.77 Bn 7.74 Bn 9.14 Bn
3 Danaher 137.16 Bn 131.47 Bn 3.59 Bn 2.25 Bn
4 Idexx Laboratories 42.82 Bn 42.62 Bn 722.74 Mn 360.15 Mn
5 Natera 39.09 Bn 37.99 Bn 696.04 Mn 790.16 Mn
6 Agilent Technologies 37.61 Bn 35.81 Bn 990.00 Mn 1.44 Bn
7 Iqvia Holdings 34.23 Bn 32.25 Bn 1.36 Bn 553.00 Mn
8 Illumina 28.14 Bn 26.98 Bn 721.00 Mn 512.00 Mn
9 Mettler Toledo International 26.40 Bn 26.33 Bn 555.82 Mn 316.87 Mn
10 Quest Diagnostics 23.76 Bn 23.67 Bn 942.00 Mn 2.50 Bn

Historic Data

Download Data
DateValue
Apr 4, 2026 1.31 Bn
Dec 31, 2025 661.85 Mn
Sep 27, 2025 607.77 Mn
Jun 28, 2025 583.12 Mn
Mar 29, 2025 510.00 Mn
Dec 31, 2024 580.45 Mn
Sep 28, 2024 529.17 Mn
Jun 29, 2024 519.42 Mn
Mar 30, 2024 502.99 Mn
Dec 31, 2023 555.25 Mn
Sep 30, 2023 532.27 Mn
Jun 30, 2023 540.72 Mn
Mar 31, 2023 510.51 Mn
Dec 31, 2022 572.23 Mn
Sep 30, 2022 516.55 Mn
Jun 30, 2022 514.69 Mn
Mar 31, 2022 495.10 Mn
Dec 31, 2021 574.25 Mn
Sep 30, 2021 467.42 Mn
Jun 30, 2021 485.23 Mn