Waters (WAT) Operating Income (2009 - 2026)
Waters (WAT) posted quarterly Operating Income of -$47.0 million for Q2 2026, down 130.92% year-over-year from $152.0 million in Q2 2025, and down 117.37% on a QoQ basis from $270.5 million in Q4 2025.
Waters (WAT) Operating Income (2009 - 2026) Analysis & Trends
Waters (WAT) has reported Operating Income for 18 consecutive years, with -$47.0 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Income fell 130.92% year-over-year to -$47.0 million; the TTM figure through Apr 2026 stood at $603.8 million (down 28.5% YoY), while the FY2025 annual figure was $802.6 million, down 2.88% from the prior year.
- Operating Income came in at -$47.0 million for Q2 2026 at Waters, down from $270.5 million in the prior quarter.
- The five-year high for Operating Income was $292.3 million in Q4 2024, with the low at -$47.0 million in Q2 2026.
- Average Operating Income over 5 years is $192.5 million, with a median of $192.1 million recorded in 2025.
- Across the five-year window, Operating Income rose 17.67% in 2024 and sank 130.92% in 2026, its largest moves.
- Year by year, Operating Income stood at $286.3 million in 2022, then fell by 7.71% to $264.2 million in 2023, then gained by 10.61% to $292.3 million in 2024, then fell by 7.44% to $270.5 million in 2025, then slumped by 117.37% to -$47.0 million in 2026.
- According to Business Quant data, Operating Income over the past three periods registered -$47.0 million, $270.5 million, and $192.1 million for Q2 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Waters | 31,055.11 Bn | 31,054.65 Bn | 1.11 Bn | -47.00 Mn |
| 2 | Thermo Fisher Scientific | 191.02 Bn | 187.77 Bn | 7.74 Bn | 1.86 Bn |
| 3 | Danaher | 137.16 Bn | 131.47 Bn | 3.59 Bn | 1.34 Bn |
| 4 | Idexx Laboratories | 42.82 Bn | 42.62 Bn | 722.74 Mn | 362.59 Mn |
| 5 | Natera | 39.09 Bn | 37.99 Bn | 696.04 Mn | -93.52 Mn |
| 6 | Agilent Technologies | 37.61 Bn | 35.81 Bn | 990.00 Mn | 399.00 Mn |
| 7 | Iqvia Holdings | 34.23 Bn | 32.25 Bn | 1.36 Bn | 514.00 Mn |
| 8 | Illumina | 28.14 Bn | 26.98 Bn | 721.00 Mn | 209.00 Mn |
| 9 | Mettler Toledo International | 26.40 Bn | 26.33 Bn | 555.82 Mn | 238.95 Mn |
| 10 | Quest Diagnostics | 23.76 Bn | 23.67 Bn | 942.00 Mn | 399.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 4, 2026 | -47.00 Mn |
| Dec 31, 2025 | 270.52 Mn |
| Sep 27, 2025 | 192.11 Mn |
| Jun 28, 2025 | 188.21 Mn |
| Mar 29, 2025 | 152.00 Mn |
| Dec 31, 2024 | 292.26 Mn |
| Sep 28, 2024 | 211.13 Mn |
| Jun 29, 2024 | 189.11 Mn |
| Mar 30, 2024 | 133.85 Mn |
| Dec 31, 2023 | 264.22 Mn |
| Sep 30, 2023 | 179.43 Mn |
| Jun 30, 2023 | 199.86 Mn |
| Mar 31, 2023 | 174.17 Mn |
| Dec 31, 2022 | 286.28 Mn |
| Sep 30, 2022 | 192.01 Mn |
| Jun 30, 2022 | 199.63 Mn |
| Mar 31, 2022 | 195.47 Mn |
| Dec 31, 2021 | 262.20 Mn |
| Sep 30, 2021 | 191.82 Mn |
| Jun 30, 2021 | 196.42 Mn |