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| Date | Value |
|---|---|
| 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 |