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
DateValue
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