Waters (WAT) Return on Capital Employed (2009 - 2026)

Waters (WAT) recorded quarterly Return on Capital Employed of 4.82% in Q2 2026, down 77.61% quarter-over-quarter from 21.52% in Q4 2025, and down 1856.0% on a YoY basis from 0.27% in Q2 2025.

Waters (WAT) Return on Capital Employed (2009 - 2026) Analysis & Trends

Waters' Return on Capital Employed history runs 16 years deep, the most recent figure standing at 4.82% for Q2 2026.

  • In Q2 2026, Return on Capital Employed fell 1856.0% year-over-year to 4.82%; the TTM figure through Apr 2026 stood at 4.82% (down 1856.0% YoY), while the FY2025 annual figure was 22.44%, up 70.0% from the prior year.
  • Return on Capital Employed was 4.82% for Q2 2026 at Waters, down from 21.52% in the prior quarter.
  • In the past five years, Return on Capital Employed ranged from a high of 23.38% in Q1 2025 to a low of 4.82% in Q2 2026.
  • Historically, Return on Capital Employed has averaged 20.33% across 4 years, with a median of 21.73% in 2023.
  • The sharpest annual moves came in 2025 and 2026: Return on Capital Employed surged 256 bps in 2025, then slumped 1856 bps in 2026.
  • A 4-year view of Return on Capital Employed shows it stood at 21.68% in 2023, then gained by 2 bps to 22.08% in 2024, then dropped by 3 bps to 21.52% in 2025, then sank by 78 bps to 4.82% in 2026.
  • The last three Return on Capital Employed figures came in at 4.82% (Q2 2026), 21.52% (Q4 2025), and 23.3% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 Waters 29,902.70 Bn 29,902.24 Bn 1.11 Bn 4.82%
2 Thermo Fisher Scientific 175.99 Bn 172.74 Bn 7.74 Bn 8.12%
3 Danaher 129.87 Bn 124.18 Bn 3.59 Bn 6.26%
4 Idexx Laboratories 44.75 Bn 44.55 Bn 722.74 Mn 67.98%
5 Agilent Technologies 37.52 Bn 35.72 Bn 990.00 Mn 14.57%
6 Iqvia Holdings 30.91 Bn 28.94 Bn 1.36 Bn 10.24%
7 Natera 30.21 Bn 29.11 Bn 696.04 Mn -3.63%
8 Illumina 24.19 Bn 23.04 Bn 721.00 Mn 16.90%
9 Mettler Toledo International 23.12 Bn 23.06 Bn 555.82 Mn 45.73%
10 Quest Diagnostics 21.68 Bn 21.59 Bn 942.00 Mn 11.27%

Historic Data

Download Data
DateValue
Apr 4, 2026 4.82%
Dec 31, 2025 21.52%
Sep 27, 2025 23.30%
Jun 28, 2025 23.18%
Mar 29, 2025 23.38%
Dec 31, 2024 22.08%
Sep 28, 2024 21.79%
Jun 29, 2024 20.63%
Mar 30, 2024 20.90%
Dec 31, 2023 21.68%
Dec 31, 2020 33.02%
Sep 26, 2020 31.84%
Jun 27, 2020 32.30%
Mar 28, 2020 31.81%
Dec 31, 2019 36.00%
Sep 28, 2019 34.20%
Jun 29, 2019 29.49%
Mar 30, 2019 24.83%
Dec 31, 2018 21.53%
Sep 29, 2018 19.87%